Stock Market Today: All You Need To Know Going Into Trade On May 27
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Share indices in the Asia-Pacific markets gained in early trade Monday, tracking Wall Street as risk appetite among traders rebounded on expectation that the U.S. inflation print for May is likely to come lower than expected.
The Nikkei 225 was 56.58 points or 0.15% higher at 38,702.69, and the S&P ASX 200 was 48.70 points or 0.63% higher at 7,776.30 as of 06:33 a.m.
University of Michigan's data showed consumers are expecting inflation to fall to 3.3% on the year in May from 3.5% expected earlier in the month.
The S&P 500 Index and Nasdaq Composite rose by 0.70% and 1.10%, respectively, as of Friday. The Dow Jones Industrial Average rose by 0.01%. Markets in the US and the UK will be closed on Monday on account of Memorial Day.
Brent crude was trading 0.10% higher at $82.22 a barrel. Gold was higher by 0.07% at $2,335.38 an ounce.
The GIFT Nifty was trading 9 points or 0.04% lower at 2,335.38 as of 06:38 a.m.
After scaling fresh highs in early trade, India's benchmark indices settled flat on Friday as ITC Ltd., Reliance Industries Ltd., and Tata Consultancy Services Ltd. declined. The rise in shares of HDFC Bank Ltd., Larsen & Toubro Ltd., and Bharti Airtel Ltd. supported the benchmarks.
The NSE Nifty 50 settled 10.55 points, or 0.05%, lower at 22,957.10, and the S&P BSE Sensex ended 7.65 points, or 0.010%, down at 75,410.39.
Overseas investors turned net sellers of Indian equities after a day on Friday. Foreign portfolio investors offloaded stocks worth Rs 944.8 crore; domestic institutional investors stayed net buyers for the fourth straight session and mopped up equities worth Rs 2,320.3 crore, the NSE data showed.
The Indian rupee strengthened by 19 paise to close at 83.09 against the US dollar.
Earnings in Focus
Astrazeneca Pharma India, Automotive Axles, Borosil Renewables, Career Point, DCM, DCM Shriram Industries, Elgi Equipment, Electronics Mart, Flair Writing, HBL Power, Hercules Hoist, Indo Count Industries, IFB Industries, Indowind Energy, Jindal Worldwide, Juniper Hotels, Kirloskar Industries, Krystal Integrated Services, Life Insurance Corporation, Likhita Infrastructure, Lumax Auto Technologies, MSTC, Natco Pharma, National Aluminium, NIBE, NMDC, Nova Agritech, NMDC Steel, Parle Industries, Ruchira Papers, Saksoft, Sigachi Industries, Sumitomo Chemical, TARC, TVS Supply chain Solutions, Usha Martin, Vishnu Prakash R Pungalia, and West Coast Mills.
Earnings Post Market Hours
Torrent Pharmaceuticals Q4 FY24 (Consolidated, YoY)
Revenue up 10.2% at Rs 2,745 crore versus Rs 2,491 crore (Bloomberg estimate Rs 2,780 crore).
Ebitda up 21.5% at Rs 883 crore versus Rs 727 crore (Bloomberg estimate Rs 896 crore).
Margin at 32.2% versus 29.2% (Bloomberg estimate 32.2%).
Net profit up 56.4% at Rs 449 crore versus Rs 287 crore (Bloomberg estimate Rs 449 crore).
Board recommends final dividend of Rs 6 per share.
To raised up to Rs 500 crore.
United Spirits Q4 FY24 (Consolidated, YoY)
Revenue up 11.2% at Rs 2,783 crore versus Rs 2,503 crore (Bloomberg estimate Rs 2,678 crore).
Ebitda up 42.1% at Rs 334 crore versus Rs 235 crore (Bloomberg estimate Rs 339 crore).
Margin at 12% versus 9.4% (Bloomberg estimate 12.7%).
Net profit up 136% at Rs 241 crore vs Rs 102 crore (Bloomberg estimate Rs 238 crore).
Board recommends final dividend of Rs 5 per share.
Narayana Hrudayalaya Q4 FY24 (Consolidated, YoY)
Revenue up 4.7% at Rs 1,279 crore versus Rs 1,222 crore.
Ebitda up 6.8% at Rs 295 crore versus Rs 276 crore.
Margin at 23% versus 22.6%.
Net profit up 10.1% at Rs 191 crore versus Rs 173 crore.
Board recommends final dividend of Rs 4 per share.
To raise up to Rs 1,200 crore via debt.
NTPC Q4 FY24 (Consolidated, YoY)
Revenue up 7.6% at Rs 47,622 crore versus Rs 44,253 crore (Bloomberg estimate Rs 45,278 crore).
Ebitda up 18.9% at Rs 14,195 crore versus Rs 11,943 crore (Bloomberg estimate Rs 13,115 crore).
Margin up 281 bps at 29.8% versus 27% (Bloomberg estimate 29%).
Net profit up 33.2% at Rs 6,490 crore versus Rs 4,872 crore (Bloomberg estimate Rs 5,331 crore).
Board recommends final dividend of Rs 3.25 per share.
Glenmark Pharmaceuticals Q4 FY24 (Consolidated, YoY)
Revenue up 2.1% at Rs 3,063 crore versus Rs 3,001 crore (Bloomberg estimate Rs 3,331 crore).
Ebitda up 26.7% at Rs 504 crore versus Rs 398 crore (Bloomberg estimate Rs 513 crore).
Margin at 16.5% versus 13.3% (Bloomberg estimate 15.4%).
Net loss of Rs 1,218 crore versus loss of Rs 428 crore (Bloomberg estimate Rs 198 crore).
Exceptional loss of Rs 447 crore versus Exceptional loss Rs 800 crore.
Hindustan Copper Q4 FY24 (Consolidated, QoQ)
Revenue up 1% at Rs 565 crore versus Rs 560 crore.
Ebitda up 21.6% at Rs 226 crore versus Rs 186 crore .
Margin at 40% versus 33.2%.
Net profit down 6% at Rs 124 crore versus Rs 132 crore.
Kolte-Patil Developers Q4 FY24 (Consolidated, YoY)
Revenue down 34% at Rs 526 crore versus Rs 797 crore (Bloomberg estimate Rs 605 crore).
Ebitda loss at Rs 18 crore versus Ebitda of Rs 173 crore (Bloomberg estimate Rs 85 crore).
Net loss of Rs 26 crore versus profit of Rs 121 crore (Bloomberg estimate profit of Rs 72 crore).
ZF Commercial Vehicle Control Systems India Q4 FY24 (Consolidated, YoY)
Revenue down 1.9% at Rs 956 crore versus Rs 977 crore (Bloomberg estimate Rs 1,037 crore).
Ebitda up 1.4% at Rs 146 crore versus Rs 144 crore (Bloomberg estimate Rs 152 crore).
Margin at 15.2% versus 14.7% (Bloomberg estimate 14.7%).
Net profit down 1% at Rs 100 crore versus Rs 101 crore. (Bloomberg estimate Rs 116 crore).
Board recommends dividend of Rs 17 per share.
Cochin Shipyard Q4 FY24 (Consolidated, YoY)
Revenue up 114% at Rs 1286 crore versus Rs 600 crore.
Ebitda at Rs 288 crore versus Ebitda loss of Rs 67 crore.
Margin at 22.4%.
Net profit 564% at Rs 259 crore versus Rs 39 crore.
Sun TV Network Q4 FY24 (Consolidated, YoY)
Revenue up 14.4% at Rs 961 crore versus Rs 840 crore.
Ebitda up 5% at Rs 523 crore versus Rs 498 crore.
Margin down 484 bps at 54.4% versus 59.2%.
Net profit up 9.1% at Rs 415 crore versus Rs 380 crore.
Karnataka Bank Q4 FY24 (Consolidated, YoY)
Net profit down 22% at Rs 274 crore versus Rs 354 crore (Bloomberg estimate Rs 315 crore).
NII down 3% at 834 crore versus 860 crore.
Gross NPA at 3.53% versus 3.64 (QoQ).
Net NPA at 1.58% versus 1.55% (QoQ).
Bosch Q4 FY24 (Consolidated, YoY)
Revenue up 4.2% at Rs 4,233 crore versus Rs 4,063 crore.
Ebitda up 6.7% at Rs 557 crore versus Rs 522 crore.
Margin at 13.2% versus 12.9%.
Net profit up 41.7% at Rs 564 crore versus Rs 398 crore.
Indiabulls Housing Finance Q4 FY24 (Consolidated, YoY)
Net profit up 21.3% at Rs 319 crore versus Rs 263 crore.
Total income up 8.6% at Rs 2,255 crore versus Rs 2,077 crore.
Affle India Q4 FY24 (Consolidated, QoQ)
Revenue up 1.5% at Rs 506 crore versus Rs 499 crore (Bloomberg estimate Rs 492 crore).
EBIT down 0.5% at Rs 78.8 crore versus Rs 78.2 crore (Bloomberg estimate Rs 76.18 crore).
Margin down 31 bps at 15.4% versus 15.7% (Bloomberg estimate 15.49%).
Net profit up 13.9% at Rs 87 crore versus Rs 77 crore (Bloomberg estimate Rs 76.56 crore).
Lumax Industries Q4 FY24 (Consolidated, YoY)
Revenue up 22.1% at Rs 743 crore versus Rs 608 crore (Bloomberg estimate Rs 689 crore).
Ebitda up 34.72% at Rs 66 crore versus Rs 49 crore (Bloomberg estimate Rs 65.5 crore).
Margin at 8.9% versus 8% (Bloomberg estimate 9.5%).
Net profit up 73.9% at Rs 36 crore versus Rs 21 crore (Bloomberg estimate Rs 30.7 crore).
Board recommended of final dividend of Rs 35 per share.
NTPC Q4 Result: Net Profit Rises 33%
Stocks to Watch
Indian Oil Corporation: The company acquired a 100% stake in Mercator Petroleum for Rs 154 crore.
TVS Motor Company: The company announced the launch of the TVS HLX 125 with 5-gears in Tanzania.
NTPC: The company's Q4 coal plant PLF was at 79.77% vs. 80.32% YoY, Q4 commercial generation was at 92.967 BU vs. 89.445 BU YoY and Q4 captive mine coal output at 7.87 MT vs 6.48 MT YoY. The company gave in-principle approval for incorporation of a wholly owned subsidiary company for undertaking Nuclear Energy Business, subject to the approval of its administrative Ministry.
Godrej Properties: The company clarified on the reports on the Mumbai project that it has not received communication from any concerned authority citing non-compliance.
Tata Steel: The NCLT of Kolkata Bench approved the scheme of amalgamation with Indian Steel & Wire Products The approval is pending from the Mumbai NCLT bench.
RVNL: The company emerged as the lowest bidder for the construction project worth Rs 187 crore from MMRCL.
Vodafone Idea: The deal to sell Firefly Networks' stake to Manipura Digital Infrastructure is terminated due to non-fulfillment of certain conditions.
Bosch: The company approved the sale of OE/OES diagnosis business from Mobility Aftermarket to ETAS Automotive for Rs 45.6 crore.
Macrotech Developers: The company acquired the remaining 50% stake of Siddhivinayak Realties arm for Rs 415.6 crore.
Dr Reddy’s: The company’s Russia-based arm in a pact with Novartis Pharma to sell anti-diabetes products in Russia.
Sparc: The board approved raising Rs 1,800 crore and accepted the resignation of CFO Chetan Rajpara effective June 5 and appointed Anup Rathi as CFO effective June 6.
IPO Offering
Awfis Space Solutions: The public issue was subscribed to 11.41 times on day 3. The bids were led institutional investors (3.39 times), non-institutional investors (20.99 times), retail investors (21.11 times) and portion reserved for employees (10.48 times).
Bulk deals
Blue Clouds Solutions: Supraja Business Consultants Private Limited sold 20 lakh shares (0.91%) at Rs 69.38 apiece.
Gokul Agro Resources: Promoter Ritika Infracon bought 34,900 shares on May 23.
Pledge Share Details
Prime Focus: Promoter Naresh Mahendranath Malhotra created a pledge of 2.11 crore shares on May 24.
Insider Details
Adani Enterprises: Promoter Emerging Market Investment DMCC bought 7.2 lakh shares on May 21.
Trading Tweaks
Moved out of short-term ASM framework: Jupiter Wagons.
F&O Cues
Nifty May futures up by 0.06% to 23,019.6 at a premium of 62.5 points.
Nifty May futures open interest up by 5.02%.
Nifty Bank May futures up by 0.42% to 49,045.15 at a premium of 73.5 points.
Nifty Bank May futures open interest down by 2.46%.
Nifty Options May 30 Expiry: Maximum Call open interest at 24,000 and Maximum Put open interest at 23,000.
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: Biocon, Bandhan Bank, GNFC, Hindustan Copper, Vodafone idea, India Cements, National Aluminium, Piramal Enterprises, PNB.
Money Market Update
The Indian rupee strengthened by 19 paise to close at 83.09 against the US dollar.
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