Stock Market Today: All You Need To Know Going Into Trade On May 16

Asian markets are poised for a mixed opening as traders continue to look for clues of any breakthrough in Washington’s stagnant negotiations to avert a US default. While Japan and Hong Kong futures pointed to early gains, Australian stocks were set to open flat.

U.S. stock market traded in a tight range on Monday, with equities making small gains ahead of a meeting between President Joe Biden and House Speaker Kevin McCarthy. Both factions have been sending mixed signals, while Treasury Secretary Janet Yellen reiterated her department could run out of cash as soon as June 1 unless Congress raises or suspends the federal debt limit.

China’s central bank’s move to inject more long-term liquidity into the financial system for the sixth month may finally deliver a post-pandemic boost to economic growth. The mood is different in Japan, with Goldman Sachs Group Inc. saying solid fundamentals and expectations for structural changes “justify a bullish stance” on the nation’s equities, as the Topix approaches its highest level since August 1990.

Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.59%. Crude edged above $75-mark, while Bitcoin advanced above 27,000-level.

At 5:20 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 0.22% at 18,443.5.

Domestic benchmarks rallied for the second day—closing at their highest levels since mid-December 2022—supported by the rise in real estate and media stocks.

The Indian rupee closed lower against the U.S. dollar as the greenback grew stronger in the overseas market.

Foreign investors were net buyers for the thirteenth straight day and bought equities worth Rs 1,685.29 crore. On the other hand, domestic institutional investors turned buyers, snapping a three-day selling streak, and bought stocks worth Rs 191.20 crore, the NSE data showed.

Pfizer Q4 FY23 (Consolidated, YoY)

• Revenue up 4% at Rs 573 crore (Bloomberg estimate: Rs 552 crore)

• Ebitda up 10% at Rs 182 crore (Bloomberg estimate: Rs 177 crore)

• Ebitda margin at 31.8% Vs 30.1% (Bloomberg estimate: 32%)

• Net profit up 3% at Rs 130 crore (Bloomberg estimate: Rs 130 crore)

• The board recommended a final dividend of Rs 35 per share for the fiscal 2023. It also announced a special dividend of Rs 5 a share in view of the gain on sale of business undertaking at Thane.

PVR Inox Q4 FY23 (Consolidated, QoQ)

• Revenue up 22% at Rs 1,143.17 crore (Bloomberg estimate: Rs 1,070.53 crore)

• Ebitda down 9% at Rs 263.87 crore (Bloomberg estimate: Rs 286.61 crore)

• Ebitda margin at 23.1% vs 30.7% (Bloomberg estimate: 26.8%)

• Net loss at Rs 333.37 crore vs net profit of Rs 16.15 crore (Bloomberg estimate: Rs 66.03 crore net loss)

• The board approved raising Rs 100 crore via non-convertible debentures on a private placement basis in one or more tranches.

Berger Paints India Q4 FY23 (Consolidated, YoY)

• Revenue up 11.71% at Rs 2,443.63 crore (Bloomberg estimate: Rs 2,467.34 crore)

• Ebitda up 6.44% at Rs 368.76 crore (Bloomberg estimate: Rs 375.40 crore)

• Ebitda margin at 15.09% vs 15.84% (Bloomberg estimate: 15.21%)

• Net profit down 15.56% at Rs 186.01 crore (Bloomberg estimate: Rs 228.79 crore)

• The board recommended a dividend of Rs 3.20 per share for the fiscal 2023.

Procter & Gamble Health Q3 FY23 (YoY)

• Revenue up 19.83% at Rs 320.92 crore

• Ebitda up 15.84% at Rs 79.66 crore

• Ebitda margin at 24.82% vs 25.68%

• Net profit up 15.7% at Rs 59.19 crore

Coromandel Q4 FY23 (Consolidated, YoY)

• Revenue up 29.55% at Rs 5,475.82 crore (Bloomberg estimate: Rs 5,506.41 crore)

• Ebitda up 6.2% at Rs 403.23 crore (Bloomberg estimate: Rs 449.52 crore)

• Ebitda margins at 7.36% vs 8.98% (Bloomberg estimate: 8.2%)

• Net profit down 14.96% at Rs 246.44 crore (Bloomberg estimate: Rs 312.55 crore)

• The board recommended a final dividend of Rs 6 per share.

Astral Q4 FY23 (Consolidated, YoY)

• Revenue up 8.31% at Rs 1,506.2 crore (Bloomberg estimate: Rs 1,489.87 crore)

• Ebitda up 45.87% at Rs 311 crore (Bloomberg estimate: Rs 247.97 crore)

• Ebitda margin at 20.64% vs 15.33% (Bloomberg estimate: 16.6%)

• Net profit up 43.1% at Rs 206.2 crore (Bloomberg estimate: Rs 149.09 crore)

• The company announced a final dividend of Rs 2.25 per share for the fiscal ended March 2023. The board approved appointment of Kairav Engineer as whole-time director and redesignation of Hiranand Savlani as additional director. Both directors have been appointed for a period of five years, effective July 1.

PCBL Q4 FY23 (Consolidated, YoY)

• Revenue up 12.72% at Rs 1,373.81 crore

• Ebitda up 36.84% at Rs 183.83 crore

• Ebitda margin at 13.38% vs 11.02%

• Net profit up 15.88% at Rs 102.28 crore

Uttam Sugar Mills Q4 FY23 (Consolidated, YoY)

• Revenue up 7.55% at Rs 527.42 crore

• Ebitda up 15.89% at Rs 111.71 crore

• Ebitda margin at 21.18% vs 19.66%

• Net profit up 14.64% at Rs 70 crore

• The board recommended a dividend of 6.5% on Series-I non-cumulative redeemable preference shares and 10% on Series-II non-cumulative redeemable preference shares for FY23. It also approved a dividend of Rs 2.50 per equity share.

• Bharti Airtel, LIC Housing Finance, Max Healthcare Institute, Bank of Baroda, Indian Oil Corporation, Jindal Steel & Power, JK Paper, Creditaccess Grameen, Alicon Castalloy, Amber Enterprises India, Aurionpro Solutions, Automotive Axles, Chemplast Sanmar, EIH Associated Hotels, Excel Industries, Granules India, Indo Rama Synthetics (India), Jubilant Ingrevia, Kajaria Ceramics, Kaynes Technology India, Metropolis Healthcare, Morepen Laboratories, MPS, Mukand, Navneet Education, Oberoi Realty, Paras Defence And Space Technologies, Prakash Industries, Redington, Safari Industries (India), Shanti Educational Initiatives, Sirca Paints India, Siyaram Silk Mills, Triveni Turbine, TV Today Network, V-Mart Retail

• Ultratech Cement: Ultratech Nathdwara Cement, the company’s wholly owned subsidiary commissioned a brownfield cement facility with annual capacity of 0.8 million tonnes in Neem Ka Thana, Rajasthan. The company’s total grey cement manufacturing capacity now stands at 129.95 million tonnes per annum.

• Wipro: The company will integrate its cloud computing framework with Google Cloud’s Rapid Migration Program, together with artificial intelligence and automated tooling, to accelerate cloud adoption among its clients.

• HCL Technologies: The company expanded its partnership with SAP, becoming a customer of and a global strategic service partner for SAP SuccessFactors Human Experience Management Suite.

• NIIT: The company bought remaining 10% stake in RPS Consulting for a fixed consideration of Rs 15 crore, and a performance based earnout consideration of up to Rs. 3.71 crore, payable over the next two years. NIIT now owns 100% stake in RPS Consulting.

• Punjab & Sind Bank: The bank will hike marginal cost of funds based lending rates for overnight, one-month, and six-month tenures in the range of 5-10 basis points. Lending rates for three-month and one-year tenures have been kept unchanged.

• HDFC Bank/HDFC: Markets regulator SEBI has approved change in control of HDFC Capital Advisors, a subsidiary of HDFC and a co-investment portfolio manager, pursuant to the merger of the two companies.

• Vedanta: The company appointed Sonal Shrivastava as the chief financial officer, effective June 1, it said in a statement.

• Affle (India): Sector Investment Funds Plc bought 1.69 lakh shares (0.13%), Goldman Sachs (Singapore) Pte ODI sold 1.69 lakh shares (0.13%) at Rs 919.85 per share.

• Cholamandalam Investment and Finance Company: Sector Investment Funds Plc bought 2.68 lakh shares (0.03%), Goldman Sachs (Singapore) Pte ODI sold 2.68 lakh shares (0.03%) at Rs 1,004.85 apiece.

• Devyani International: Sector Investment Funds Plc bought 9.07 lakh shares (0.08%), Goldman Sachs (Singapore) Pte ODI sold 9.07 lakh shares (0.08%) at Rs 176.50 apiece.

• Jubilant Foodworks: Sector Investment Funds Plc bought 5.7 lakh shares (0.09%), Goldman Sachs (Singapore) Pte ODI sold 5.7 lakh shares (0.09%) at Rs 467.40 apiece.

• Titan Co.: Sector Investment Funds Plc bought 1.2 lakh shares (0.01%), Goldman Sachs (Singapore) Pte ODI sold 1.2 lakh shares (0.01%) at Rs 2,773.25 apiece.

• Varun Beverages: Sector Investment Funds Plc bought 2.71 lakh shares (0.04%), Goldman Sachs (Singapore) Pte ODI sold 2.71 lakh shares (0.04%) at Rs 1,557.20 apiece.

• Home First Finance Company India: Norges Bank on account of Government Pension Fund Global bought 21 lakh shares (2.38%), Societe Generale bought 7.10 lakh shares (0.8%), Orange Clove Investment sold 18.85 lakh shares (2.14%), Aether Mauritius sold 11.31 lakh shares (1.29%) at Rs 700 apiece, True North Fund sold 16.97 lakh shares (1.92%) at Rs 700.97 apiece.

• Ethos: Yashovarshan Saboo sold 1.5 lakh shares (0.64%) at Rs 1253.83 apiece.

• Saksoft: Premier Investment Fund sold 5.65 lakh shares (0.53%) at Rs 200.92 apiece.

• Aptus Value Housing Finance India: To meet analyst and investors on May 16.

• VIP Industries: To meet analyst and investors on May 17.

• Finotex Chemical: To meet analyst and investors on May 23.

• Sterling Tools: To meet analyst and investors on May 17.

• Kirloskar Pneumatic Company: To meet analyst and investors on May 17.

• Craftsman Automation: To meet analyst and investors on May 16 and June 8.

• Coal India: To meet analyst and investors on May 17.

• Nippon Life India Asset Management: To meet analyst and investors on May 16, May 26 and June 2.

• Pidilite Industries: To meet analyst and investors on May 16.

• Price Band Revised From 20% To 10%: Aurionpro Solutions, Datamatics Global Services

• Ex-Date Final Dividend: HDFC Bank, GM Breweries Limited

• Record Date Final Dividend: HDFC Bank

• Ex-Date Interim Dividend: HDFC, Sundram Fasteners

• Record Date Interim Dividend: HDFC, Sundram Fasteners

• Move Into Short-Term ASM Framework: Manorama Industries

• Move Out of Short-Term ASM Framework: IOL Chemicals and Pharmaceuticals

• Inox Wind: Promoter Inox Wind Energy revoked a pledge of 39.54 lakh shares on May 9.

• Nifty May futures ended at 18,411.35, a premium of 77.95 points.

• Nifty May futures rose 1.53% and 3,356 shares in Open Interest.

• Nifty Bank May futures ended at 43,996, a premium of 238.85 points.

• Nifty Bank May futures rose 3.53% and 3,171 shares in Open Interest.

• Securities added to the ban period: Bharat Heavy Electricals, Punjab National Bank, Gujarat Narmada Valley Fertilizers & Chemicals, Delta Corp

• Securities removed from the ban period: Canara Bank, Manappuram Finance

• Rupee closed 0.16% lower against the U.S. dollar at Rs 82.30 on Monday, compared to Friday’s close of 82.17.

• Ipca Labs - Long Road Ahead For U.S. FDA Compliance: Motilal Oswal

• Ambuja Cement - Walking The Talk: ICICI Securities

• AVG Logistics - Well-Poised To Tap Growth Opportunities In The Logistics Sector: Systematix

• Poly Medicure - Strong Revenue Growth Coupled With Margin Expansion: Systematix

• KNR Construction - Recent Order Inflows Boost Dwindling Order Book: Motilal Oswal