Stock Market Today: All You Need To Know Going Into Trade On May 24

Markets in Asia-Pacific declined, tracking overnight losses on Wall Street as stronger than anticipated economic data compelled traders to push their rate cut expectation further.

The Nikkei 225 was trading 536.32 points or 1.37% lower at 38,566.90, and the S&P ASX 200 was trading 66.90 points or 0.86% down at 7,744.90 as of 06:51 a.m.

The U.S. S&P Global Flash Composite Purchasing Managers Index rose to 54.4 in May from 51.3 in April, topping all estimates by Bloomberg. A reading above 50 indicates expansion, and below hints contraction in activity.

Bonds sold off as data showed US business activity accelerated amid a pickup in inflation that will likely keep the Federal Reserve on hold. An earlier rally in stocks waned, though Nvidia Corp. jumped on a solid outlook, Bloomberg said.

The S&P 500 Index and Nasdaq Composite fell 0.74% and 0.39%, respectively, as of Thursday. The Dow Jones Industrial Average fell by 1.53%.

Brent crude was trading flat at $81.36 a barrel. Gold rose 0.03% to $2,330.05 an ounce.

The GIFT Nifty was trading 11 points or 0.05% lower at 22,949.00 as of 06:54 a.m.

India's benchmark indices ended at a record high on Thursday after the Reserve Bank of India approved the highest-ever dividend of Rs 2.11 lakh crore to the government. The NSE Nifty 50 gained 369.85 points, or 1.64%, to end at its highest closing of 22,967.65. The S&P BSE Sensex ended 1,196.98 points, or 1.61%, higher at 75,418.04, a record closing high.

Overseas investors turned net buyers on Thursday after three days of selling. Foreign portfolio investors bought stocks worth Rs 4,670.95 crore and domestic institutional investors stayed net buyers for three straight sessions and mopped up equities worth Rs 146.51 crore, according to provisional data from the National Stock Exchange.

The Indian currency and bond markets were closed on the occasion of Buddha Poornima.

NTPC, Hindalco Industries, BOSCH, Torrent Pharmaceuticals, United Spirits, Ashok Leyland, ZF Commercial Vehicle, Glenmark Pharmaceuticals, Manappuram Finance, Affle India, Century Plyboards India, PNC Infratech, Karnataka Bank, Jamna Auto Industries, Nazara Technologies, Aditya Vision, Kolte Patil Developers, PSP Projects, Lumax Industries, Housing and Urban Development Corp, Hindustan Copper, and EID Parry India.

Interglobe Aviation Q4 FY24 (Consolidated, YoY)

• Revenue up 26% Rs 17,825 crore versus Rs 14,161 crore (Bloomberg estimate Rs 16,860 crore).

• Ebitdar up 66% at Rs 4,159 crore versus Rs 2,499 crore (Bloomberg estimate Rs 3,826 crore).

• Margin at 23.3% versus 17.6% (Bloomberg estimate Rs 22.7%).

• Net profit up 106.2% at Rs 1,895 crore versus Rs 919 crore (Bloomberg estimate Rs 1,916 crore).

JK Lakshmi Cement Q4 FY24 (Consolidated, YoY)

• Revenue down 4.4% at Rs 1,781 crore versus Rs 1,862 crore (Bloomberg estimate Rs 1,928 crore).

• Ebitda up 44.6% at Rs 337 crore versus Rs 233 crore (Bloomberg estimate Rs 283 crore).

• Margin at 18.9% versus 12.5% (Bloomberg estimate 14.7%).

• Net profit up 41.1% at Rs 162 crore versus Rs 115 crore (Bloomberg estimate Rs 143 crore).

Honasa Consumer Q4 FY24 (Consolidated, YoY)

• Revenue up 21.5% at Rs 471 crore versus Rs 388 crore.

• Ebitda at Rs 33 crore versus Ebitda loss of Rs 3 crore.

• Margin at 7%.

• Net profit at Rs 30 crore versus loss of Rs 162 crore.

Johnson Controls Q4 FY24 (YoY)

• Revenue up 40.9% at Rs 772 crore versus Rs 548 crore (Bloomberg estimate Rs 666 crore).

• Ebitda at Rs 81 crore versus Rs 23 crore (Bloomberg estimate Rs 45.23 crore).

• Margin at 10.6% versus 4.3% (Bloomberg estimate 6.8%).

• Net profit at Rs 49 crore versus loss of Rs 1 crore (Bloomberg estimate Rs 15.35 crore).

Bikaji Foods International Q4 FY24 (Consolidated, YoY)

• Revenue up 32.9% at Rs 614 crore versus Rs 462 crore (Bloomberg estimate Rs 602 crore).

• Ebitda up 160% at Rs 161 crore versus Rs 62 crore (Bloomberg estimate Rs 143 crore).

• Margin at 26.2% versus 13.4% (Bloomberg estimate 23.8%).

• Net profit up 197% at Rs 116 crore versus Rs 39 crore (Bloomberg estimate 103.5 crore).

Gabriel India Q4 FY24 (Consolidated, QoQ)

• Revenue up 12.5% at Rs 917 crore versus Rs 815 crore (Bloomberg estimate Rs 840 crore).

• Ebitda up 14.7% at Rs 80 crore versus Rs 70 crore.

• Margin at 8.8% versus 8.6%.

• Net profit up 18.9% at Rs 49 crore versus Rs 41 crore (Bloomberg estimate Rs 46.15 crore).

Sandhar Technologies Q4 FY24 (Consolidated, YoY)

• Revenue up 20% at Rs 918 crore versus Rs 765 crore (Bloomberg estimate Rs 884 crore).

• Ebitda up 45.2% at Rs 98 crore versus Rs 68 crore.

• Margin at 10.7% versus 8.8%.

• Net profit up 45.1% at Rs 36 crore versus Rs 25 crore (Bloomberg estimate Rs 25.2 crore).

Fortis Healthcare Q4 FY24 (Consolidated, YoY)

• Revenue up 8.7% at Rs 1,786 crore versus Rs 1,643 crore (Bloomberg estimate Rs 1,797 crore).

• Ebitda up 40.7% at Rs 381 crore versus Rs 271 crore (Bloomberg estimate Rs 335 crore).

• Margin at 21.3% versus 16.5% (Bloomberg estimate 18.6%).

• Net profit up 47% at Rs 203 crore versus Rs 138 crore (Bloomberg estimate Rs 167 crore).

Schneider Electric Infrastructure Q4 FY24 (YoY)

• Revenue up 14.9% at Rs 472 crore versus Rs 411 crore.

• Ebitda up 20.1% at Rs 73 crore versus Rs 61 crore.

• Margin at 15.5% versus 14.8%.

• Net profit down 92.7% at Rs 3 crore versus Rs 45 crore.

Barbeque Nation Hospitality Q4 FY24 (Consolidated, YoY)

• Revenue up 6.4% at Rs 298 crore versus Rs 280 crore (Bloomberg estimate Rs 292 crore).

• Ebitda up 37.3% at Rs 55 crore versus Rs 40 crore (Bloomberg estimate Rs 52.35 crore).

• Margin at 18.4% versus 14.2% (Bloomberg estimate Rs 17.9%).

• Net loss of Rs 4 lakh versus loss of Rs 12 crore (Bloomberg estimate net loss of Rs 6.25 crore).

Bayer Cropscience Q4 FY24 (YoY)

• Revenue down 19.5% at Rs 792 crore versus Rs 983 crore (Bloomberg estimate 1,004 crore).

• Ebitda down 53.1% at Rs 97 crore versus Rs 206 crore (Bloomberg estimate 221 crore).

• Margin at 12.2% versus 21% (Bloomberg estimate 22%).

• Net profit down 39.4% at Rs 96 crore versus Rs 159 crore (Bloomberg estimate Rs 137 crore).

Orchid Pharma Q4 FY24 (Consolidated, YoY)

• Revenue up 3.4% at Rs 217 crore versus Rs 210 crore (Bloomberg estimate Rs 252 crore).

• Ebitda down 27.1% at Rs 29 crore versus Rs 40 crore (Bloomberg estimate Rs 40.4 crore).

• Margin at 13.3% versus 18.9% (Bloomberg estimate 16%).

• Net profit down 44.3% at Rs 33 crore versus Rs 59 crore (Bloomberg estimate Rs 34 crore).

• UPL: The company and Aarti Industries entered a joint venture for the manufacturing and marketing of specialty chemicals that find application in multiple downstream industries. The JV Company is expected to commence commercial supplies by Q1 FY 2026–27, with a peak annual revenue potential of Rs. 400–500 crores in the next 2–3 years.

• Vodafone Idea: The company has clarified that they are in discussion with Ericsson and other network vendors for 5G network gear.

• Wipro: The company appointed Sarat Chand as regional MD of Northern Europe.

• Sun Pharmaceutical Industries: Taro shareholders have approved the merger agreement with the company.

• Brigade Enterprises: The company signed a joint development agreement for a residential project with a GDV of Rs 720 crore on Old Madras Road, Bengaluru.

• Transformers and Rectifiers: The company received an export order worth Rs 161 crore from AL Anwaar, an order worth Rs 179 crore from Adani Group and Rs 19 crore from L&T.

• Zee Entertainment Enterprises: The company seeks a termination fee of $90 million from Culver Max and Bangla Entertainment to terminate the merger cooperation agreement on account of a breach by Culver Max and BEPL.

• Awfis Space Solutions: The public issue was subscribed to 4.28 times on day 2. The bids were led institutional investors (0.32 times), non-institutional investors (6.82 times), and retail investors (12.27 times) and portion reserved for employees (6.81 times).

• Star Health and Allied Insurance: APIS Growth sold 1.52 crore shares (2.61%), Mio Iv Star sold 140.17 lakh shares (2.39%), Mio Star sold 61.34 lakh shares (1.05%), Roc Star Investment Trust sold 59.08 lakh shares (1.01%), while ICICI Prudential Life Insurance bought 1.17 crore shares (2%), HDFC Mutual Fund bought 56.08 lakh shares (0.95%), East Bridge Capital Master Fund I Ltd bought 55 lakh shares (0.94%), Plutus Wealth Management LLP bought 30 lakh shares (0.51%) and among others at Rs 535 apiece.

• Coforge: New World Fund Inc bought 3.22 lakh shares (0.52%) at Rs 5073.66 apiece.

• Mayur Uniquoters: Unifi Capital Private Limited - Blended Rangoli sold 3 lakh shares (0.68%) at Rs 550.5 apiece.

• Krystal Integrated Services: Black Hawk Properties sold 75,000 shares (0.54%) at Rs 710 apiece.

• Chambal Fertilizers and Chemicals: Promoter Zuari Industries created a pledge for 15 lakh shares on May 17.

• Usha Martin: Promoter Peterhouse Investments India sold 2 lakh shares on May 21.

• Price band changes from 20% to 10%: Garden Reach Shipbuilders and Engineers.

• Ex/record dividend: Vedanta, Tata Consumer Products

• Ex/record Split: Bharat Dynamics, Som Distilleries & Breweries.

• Ex/record Bonus: GM Breweries, Inox Wind.

• Moved out of short-term ASM framework: Dynamic Cables, Exicom Tele-Systems, Sun pharma advanced research.

• Nifty May futures up by 1.54% to 23,002.7 at a premium of 32.55 points.

• Nifty May futures open interest up by 5.16%.

• Nifty Bank May futures up by 1.85% to 48,838.65 at a premium of 70.05 points.

• Nifty Bank May futures open interest down by 3,4%.

• Nifty Options May 30 Expiry: Maximum Call open interest at 24,000 and Maximum Put open interest at 21,000.

• Bank Nifty Options May 29 Expiry: Maximum Call Open Interest at 50,000 and Maximum Put open interest at 48,000.

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

Disclaimer: NDTV is a subsidiary of AMG Media Networks Ltd, an Adani Group Company.