Stock Market Today: All You Need To Know Going Into Trade On May 23

Stocks in the Asia Pacific region were trading mixed on Thursday after the US benchmarks fell on the Federal Reserve's desire to keep interest rates elevated for longer.

The Nikkei 225 was trading 154 points or 0.40% higher at 38,771, while the S&P ASX 200 was 82 points or 1.06% down at 7764 as of 06:32 a.m. Meanwhile, South Korea's benchmark was down 0.39%.

While US equity fell after the release of the FOMC minutes, their futures rose following robust results from Nvidia Corp.

The S&P 500 fell 0.27%, and the Nasdaq Composite declined 0.18%, as of Wednesday. The Dow Jones Industrial Average was down by 0.51%.

Brent crude was trading 0.48% lower at $81.51 a barrel. Gold was higher by 0.10% at $2,381.17 an ounce.

The GIFT Nifty was trading 13 points or 0.06% higher at 22637 as of 06:35 a.m.

India's benchmark stock indices ended the range-bound session higher, tracking gains in shares of Reliance Industries Ltd., Infosys Ltd., and Hindustan Unilever Ltd.

The NSE Nifty 50 ended 68.75 points, or 0.31%, higher at 22,597.80. It settled higher for the fifth consecutive session and recorded the longest winning streak since April 25. The S&P BSE Sensex closed 267.75 points up, or 0.36%, at 74,221.06.

Overseas investors in Indian equities remained net sellers on Wednesday for the third straight session. Foreign portfolio investors offloaded stocks worth Rs 686 crore and domestic institutional investors remained net buyers for the second day and mopped up equities worth Rs 962 crore, according to provisional data from the National Stock Exchange.

The Indian currency strengthened by 3 paise to close at 83.28 against the US dollar.

ITC, Interglobe Aviation, Page Industries, Fortis Healthcare, Bayer Crop science, CESC, Finolex Cables, Bikaji Foods International, PCBL, JK Lakshmi Cement, Tega Industries, Saregama India, Orchid Pharma, Gabriel India, Steel Strips Wheels, Subros, Johnson Controls Hitachi Air, Sandhar Technologies, Barbeque Nation Hospitality, Tata Investment Corp, and Schneider Electric Infrastructure.

Here are the earnings estimates of major companies that are scheduled to announce their results on Tuesday:

Jubilant FoodWorks Q4 FY24 (Consolidated, YoY)

• Revenue up 24% at Rs 1,573 crore vs Rs 1,270 crore (Bloomberg estimate Rs 1,331 crore).

• Ebitda up 24.6% at Rs 310 crore vs Rs 249 crore (Bloomberg estimate Rs 274 crore).

• Margin at 19.7% vs 19.6% (Bloomberg estimate 20.6%).

• Net profit at Rs 208 crore vs Rs 29 crore (Bloomberg estimate Rs 50 crore).

Minda Corporation Q4 FY24 (Consolidated, YoY)

• Revenue up 13.1% at Rs 1,215 crore vs Rs 1,075 crore (Bloomberg estimate Rs 1,200 crore).

• Ebitda up 18.5% at Rs 139 crore vs Rs 117 crore (Bloomberg estimate Rs 134 crore).

• Margin at 11.4% vs 10.9% (Bloomberg estimate 11.2%).

• Net profit down 42% at Rs 71 crore vs Rs 122 crore (Bloomberg estimate Rs 60.25 crore).

FSN E-Commerce Ventures Q4 FY24 (Consolidated, QoQ)

• Revenue up 28.1% at Rs 1,668 crore vs Rs 1,789 crore (Bloomberg estimate Rs 1,631 crore).

• Ebitda up 32% at Rs 93 crore vs Rs 99 crore (Bloomberg estimate Rs 88.43 crore).

• Margin at 5.6% vs 5.5% (Bloomberg estimate 5.4%).

• Net profit at Rs 9 crore vs Rs 17 crore (Bloomberg estimate Rs 13.27 crore).

Petronet LNG Q4 FY24 (Consolidated, QoQ)

• Revenue down 6.5% at Rs 13,793 crore vs Rs 14,747 crore.

• Ebitda down 35.3% at Rs 1,104 crore vs Rs 1,705 crore.

• Margin at 8% vs 11.6%.

• Net profit down 37% at Rs 764 crore vs Rs 1,213 crore.

GMM Pfaudler Q4 FY24 (Consolidated, YoY)

• Revenue down 14.5% at Rs 741 crore vs Rs 866 crore (Bloomberg estimate Rs 925 crore).

• Ebitda down 3.8% at Rs 91 crore vs Rs 94 crore (Bloomberg estimate Rs 148 crore).

• Margin at 12.3% vs 10.9% (Bloomberg estimate 16%).

• Net profit down 13.9% at Rs 29 crore vs Rs 33 crore (Bloomberg estimate Rs 75 crore).

Garden Reach Shipbuilders & Engineers Q4 FY24 (Consolidated, YoY)

• Revenue up 69% at Rs 1,016 crore vs Rs 601 crore (Bloomberg estimate Rs 824 crore).

• Ebitda at Rs 91 crore vs Rs 20 crore (Bloomberg estimate Rs 58 crore).

• Margin at 8.9% vs 3.4% (Bloomberg estimate Rs 7.1%).

• Net profit at Rs 112 crore vs Rs 55 crore (Bloomberg estimate Rs 102 crore).

HEG Q4 FY24 (Consolidated, YoY) 

• Revenue down 11.4% at Rs 547 crore vs Rs 617 crore.

• Ebitda down 65.3% at Rs 43 crore vs Rs 123 crore.

• Margin at 7.8% vs 20%.

• Net profit down 67% at Rs 33 crore vs Rs 100 crore.

Torrent Power Q4 FY24 (Consolidated, YoY) 

• Revenue up 8.1% at Rs 6,529 crore vs Rs 6,038 crore (Bloomberg estimate Rs 7,092 crore).

• Ebitda up 1.7% at Rs 1,109 crore vs Rs 1,090 crore (Bloomberg estimate Rs 1,231 crore).

• Margin at 17% vs 18.1% (Bloomberg estimate 17.4%).

• Net profit down 7.6% at Rs 447 crore vs Rs 484 crore (Bloomberg estimate Rs 509 crore).

Gland Pharma Q4 FY24 (Consolidated, YoY) 

• Revenue up 96% at Rs 1,537 crore vs Rs 785 crore (Bloomberg estimate Rs 1,532 crore).

• Ebitda at Rs 359 crore vs Rs 168 crore (Bloomberg estimate Rs 362 crore).

• Margin at 23.3% vs 21.5% (Bloomberg estimate 23.6%).

• Net profit up 2.43 times to Rs 192 crore (Bloomberg estimate Rs 239 crore).

Ramco Cements Q4 FY24 (Consolidated, YoY) 

• Revenue up 4.1% at Rs 2,678 crore vs Rs 2,573 crore (Bloomberg estimate Rs 2,503 crore).

• Ebitda up 1.8% at Rs 419 crore vs Rs 412 crore (Bloomberg estimate Rs 463 crore).

• Margin at 15.6% vs 16% (Bloomberg estimate 18.5%).

• Net profit down 14.6% at Rs 129 crore vs Rs 151 crore (Bloomberg estimate Rs 135 crore).

• Board recommends dividend of Rs 2.5 per share.

Star Cement Q4 FY24 (Consolidated, YoY)  

• Revenue up 10.2% at Rs 914 crore vs Rs 829 crore (Bloomberg estimate Rs 900 crore).

• Ebitda up 8.2% at Rs 180 crore vs Rs 166 crore (Bloomberg estimate Rs 180 crore).

• Margin at 19.7% vs 20% (Bloomberg estimate 20%).

• Net profit down 8.8% at Rs 88 crore vs Rs 96 crore (Bloomberg estimate Rs 99 crore).

Power Grid Corporation Of India Q4 FY24 (Consolidated, YoY)  

• Revenue down 2.5% at Rs 11,978 crore vs Rs 12,286 crore (Bloomberg estimate Rs 10,594 crore).

• Ebitda down 7.6% at Rs 10,099 crore vs Rs 10,931 crore.

• Margin at 84.3% vs 89%.

• Net profit down 3.6% at Rs 4,166 crore vs Rs 4,323 crore (Bloomberg estimate Rs 4,160 crore).

• Board recommends final dividend of Rs 2.75 per share.

Metro Brands Q4 FY24 (Consolidated, YoY)   

• Revenue up 7.1% at Rs 583 crore vs Rs 544 crore (Bloomberg estimate Rs 596 crore) .

• Ebitda up 10.5% at Rs 159 crore vs Rs 144 crore (Bloomberg estimate Rs 156 crore).

• Margin at 27.2% vs 26.4% (Bloomberg estimate 26.2%).

• Net profit at Rs 156 crore vs Rs 69 crore (Bloomberg estimate Rs 71 crore).

Sundram Fasteners Q4 FY24 (Consolidated, YoY) 

• Revenue up 1.3% at Rs 1,466 crore vs Rs 1,448 crore (Bloomberg estimate Rs 1,434 crore).

• Ebitda up 0.6% at Rs 228 crore vs Rs 227 crore (Bloomberg estimate Rs 222 crore).

• Margin at 15.6% vs 15.7% (Bloomberg estimate 15.4%).

• Net profit up 5.4% at Rs 134 crore vs Rs 127 crore (Bloomberg estimate Rs 120 crore).

• Board declared second interim dividend of Rs 4.17 per share.

PG Electroplast Q4 FY24 (Consolidated, YoY) 

• Revenue up 30% at Rs 1,077 crore vs Rs 828 crore (Bloomberg estimate Rs 1,124 crore).

• Ebitda up 53.7% at Rs 116 crore vs Rs 76 crore (Bloomberg estimate Rs 88.6 crore).

• Margin at 10.8% vs 9.1% (7.9%).

• Net profit up 73.2% at Rs 70 crore vs Rs 40 crore (Bloomberg estimate Rs 56.57 crore).

Grasim Industries Q4 FY24 (Consolidated, YoY)

• Revenue up 12.7% at Rs 37,727 crore vs Rs 33,462 crore.

• Ebitda up 28.7% at Rs 7,892 crore vs Rs 6,131 crore.

• Margin at 20.9% vs 18.3%.

• Net profit up 15.5% at Rs 2,722 crore vs Rs 2,356 crore.

New India Assurance Company Q4 FY24 (Consolidated, YoY)

• Total income up 13.9% at Rs 10,875 crore vs Rs 9,548 crore.

• Net profit at Rs 308 crore vs Rs 144 crore.

• FSN E-Commerce: The board approved the acquisition of the western wear and accessories business from Nykaa Fashion, approved the transfer of a 100% stake held in Iluminar Media to Nykaa Fashion and gave principal approval for the merger of Iluminar Media into Nykaa Fashion.

• AllCargo Logistics: The company’s arm, ECU Worldwide, acquired a 25% stake in Fair Trade for €2.9 million.

• Jubilant Foodworks: The company approved a further investment of Rs 30 crore in the Bangladesh unit.

• Oil India: The company signed a new long-term definitive agreement for the transportation of additional petroleum products through OIL’s Numaligarh-Siliguri Product Pipeline following the commissioning of the Numaligarh Refinery Expansion Project.

• Powergrid: The board approved raising up to a Rs 5,000 crore term loan /credit line from the Consortium of Bankers.

• Go Digit General Insurance: The company's shares will debut on the stock exchanges on Thursday at an issue price of Rs 272 apiece. The Rs 2,614.65 crore IPO was subscribed 9.6 times on its third and final day.

• Awfis Space Solutions: The public issue was subscribed to 2.02 times on day 1. The bids were led institutional investors (0.3 times), non-institutional investors (2.76 times), and retail investors (6.03 times).

• Apollo Tyres: White Iris Investment sold 2.24 crore shares (3.46%), while ICICI Prudential Mutual Fund bought 41.89 lakh shares (0.65%), Morgan Stanley Asia Singapore PTE bought 40.14 lakh shares (0.63%), Mirae Asset Mutual Fund bought 31.42 lakh shares (0.49%) and among others at Rs 477 apiece.

• Granules India: Krishna Prasad Chigurupati sold 75 lakh shares (3.09%) at Rs 405.08 apiece, while Massachusetts Institute of Technology bought 25.93 lakh shares (1.06%) at Rs 405.1 apiece, Axis Mutual Fund bought 25.26 lakh shares (1.04%) at Rs 405.1 apiece. Fidelity Funds India Focus Fund bought 10.93 lakh shares (0.45%) and among others at Rs 405 apiece.

• Aarti Pharmlabs: Quant Mutual Fund bought 10.51 lakh shares (1.15%) at Rs 575.83 apiece, while Baron Emerging Markets Fund sold 8.61 lakh shares (0.95%) at Rs 573 apiece.

• Moved into short-term ASM framework: Honeywell Automation India, Seamec Consultants.

• Moved out of short-term ASM framework: Allsec Technologies, Cartrade Technologies, Suraj Estate Developers.

• Nifty May futures up by 0.27% to 22,657.95 at a premium of 60.15 points.

• Nifty May futures open interest down by 1.23%.

• Nifty Bank May futures down by 0.17% to 47,974.1 at a premium of 192.15 points.

• Nifty Bank May futures open interest down by 6%.

• Nifty Options May 23 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 22,000.

• Bank Nifty Options May 29 Expiry: Maximum Call Open Interest at 48,000 and Maximum Put open interest at 48,000.

• Securities in ban period: Aditya Birla Capital, Balarampur Chini Mills, Bandhan Bank, Biocon, Hindustan Copper, Vodafone Idea, Indian Energy Exchange, India Cements, Metropolis Healthcare, National Aluminium, Piramal Enterprises, PNB, and Zee Entertainment Enterprise.

The Indian currency strengthened by 3 paise to close at 83.28 against the US dollar.