Stock Market Today: All You Need To Know Going Into Trade On May 30
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Asian markets were poised for a cautious open on Tuesday as White House and Republican congressional leaders stepped up lobbying to ensure Congress passes a debt-accord to head off a U.S. default.
Futures for Japan and Australia pointed to the slimmest of moves when those two markets open, while contracts for Hong Kong suggest more declines. A key gauge of Chinese shares is within a whisker of a bear market as a wobbling economic recovery, intensifying geopolitical tensions and a weaker yuan kept investors away.
Contracts on the S&P 500 and Nasdaq 100 rose 0.3% and 0.5%, respectively, as they opened in Asia after each making small gains Monday in holiday-thinned trading. U.S. markets were closed for Memorial Day. European stocks wavered in muted holiday-affected trading Monday.
Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.77%. Crude was trading above $77-mark, while Bitcoin traded around 28,000-level.
At 05:33 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, up 0.02% at 18,694.5.
Domestic benchmarks held on to steady gains to end higher as U.S. lawmakers reached a debt ceiling limit settlement, with NBFC and consumer durable stocks leading the advance. The Indian rupee closed lower against the U.S. dollar as it faced a stronger greenback in the overseas markets.
Foreign investors were net buyers for the sixth day and bought equities worth Rs 1,758.2 crore. On the other hand, domestic institutional investors were buyers for the seventh straight day and bought Rs 853.57 crore worth of equities, the NSE data showed.
Earnings Fineprint
Torrent Power Q4 FY23 (Consolidated, YoY)
Revenue up 61.3% at Rs 6,037.9 crore (Bloomberg estimate: Rs 6,721.8 crore)
Ebitda up 10.1% at Rs 1,090.4 crore (Bloomberg estimate: Rs 1,306.3 crore)
Ebitda margin at 18.1% vs 26.5% (Bloomberg estimate: 19.4%)
Net profit of Rs 483.9 crore vs net loss of Rs 487.37 crore (Bloomberg estimate: Rs 568.1 crore)
The consolidated revenue for the quarter under review includes sale of regassified liquified natural gas of Rs 506.1 crore. The company will pay a final dividend of Rs 4 per share for the fiscal 2023, with a total outgo of Rs 192.3 crore.
Adani Transmission Q4 FY23 (Consolidated, YoY)
Revenue up 12.9% at Rs 3,357.7 crore (Bloomberg estimate: Rs 3,185.6 crore)
Ebitda up 27.3% at Rs 1,203.2 crore (Bloomberg estimate: Rs 1,715.1 crore)
Ebitda margin at 35.8% vs 31.8% (Bloomberg estimate: 53.8%)
Net profit up 85.5% at Rs 439.6 crore (Bloomberg estimate: Rs 717.5 crore)
KNR Constructions Q4 FY23 (Consolidated, YoY)
Revenue up 13% at Rs 1,245.3 crore (Bloomberg estimate: Rs 1,068 crore)
Ebitda down 11.8% at Rs 245.97 crore (Bloomberg estimate: Rs 349.2 crore)
Ebitda margin at 19.8% vs 25.3% (Bloomberg estimate: 25.6%)
Net profit up 5.8% at Rs 147.27 crore (Bloomberg estimate: Rs 585 crore)
The company announced a final dividend of Rs 0.25 per share for the fiscal 2023.
Sobha Q4 FY23 (Consolidated, YoY)
Revenues up 70.3% at Rs 1,209.9 crore (Bloomberg estimate: Rs 831.9 crore)
Ebitda up 49% at Rs 115.6 crore (Bloomberg estimate: Rs 118.3 crore)
Ebitda margin at 9.5% vs 10.9% (Bloomberg estimate: 14.2%)
Net profit up 242.2% at Rs 48.6 crore (Bloomberg estimate: Rs 44.6 crore)
The board recommended a dividend of Rs 3 per share for the fiscal 2023.
Indian Railways Catering and Tourism Corporation Q4 (Standalone, YoY)
Revenue rose 39.7% to Rs 965 crore (Bloomberg estimate: Rs 891.7 crore)
Ebitda rose 16.5% to Rs 324.6 crore (Bloomberg estimate: Rs 326.6 crore)
Ebitda margin stood at 33.6% vs 40.3% (Bloomberg estimate: 36.6%)
Net Profit rose 30% to Rs 278.8 crore (Bloomberg estimate: Rs 248.2 crore)
The company reported exceptional gain to the tune of Rs 25.9 crore for the quarter under review, compared to exceptional loss of Rs 4 crore in the year-ago period. The company will pay a final dividend of Rs 2 per share for the fiscal 2023.
Rail Vikas Nigam Q4 FY23 (Consolidated, YoY)
Revenue down 11.1% at Rs 5,719.8 crore
Ebitda down 8.3% at Rs 374.37 crore
Ebitda margin at 6.5% vs 6.3%
Net profit down 5% at Rs 359.2 crore
The board recommended a final dividend of Rs 0.36 per share.
NBCC (India) Q4 FY23 (Consolidated, YoY)
Revenue up 14.3% at Rs 2,790 crore
Ebitda up 43% at Rs 104.3 crore
Ebitda margin at 3.7% vs 3%
Net profit up 176.5% at Rs 113.6 crore
The company reported net exception expenses of Rs 4.77 crore during the March quarter, down from 72.9 crore in the year-ago period. Finance costs came down to Rs 95,000 from Rs 1.4 crore crore during the quarter under review. The board recommended a final dividend of Rs 0.54 per share.
Hikal Q4 FY23 (Consolidated, YoY)
Revenue up 8.55% at Rs 545.3 crore
Ebitda up 44.3% at Rs 88 crore
Ebitda margin at 16.1% vs 12.1%
Net profit up 73.8% at Rs 36 crore
The board recommended a final dividend of Rs 0.3 per share for the fiscal 2023.
Jamna Auto Industries Q4 FY23 (Consolidated, YoY)
Revenue down 1.3% at Rs 347.75 crore (Bloomberg estimate: Rs 623 crore)
Ebitda down 7% at Rs 82 crore (Bloomberg estimate: Rs 70.2 crore)
Ebitda margin at 12.9% vs 14.1% (Bloomberg estimate: 11.2%)
Net profit down 7.7% at Rs 52.5 crore (Bloomberg estimate: Rs 44.5 crore)
The board recommended a final dividend of Rs 1.10 per share.
NOCIL Q4 FY23 (Consolidated, YoY)
Revenue down 15.1% at Rs 392.72 crore (Bloomberg estimate: Rs 376.2 crore)
Ebitda down 55.7% at Rs 49 crore (Bloomberg estimate: Rs 44.9 crore)
Ebitda margin at 12.5% vs 23.9% (Bloomberg estimate: 11.9%)
Net profit down 58.6% at Rs 28.38 crore (Bloomberg estimate: Rs 27 crore)
The company will pay a final dividend of Rs 3 per share.
Campus Activewear Q4 FY23 (Consolidated, YoY)
Revenue down 1.3% at Rs 347.75 crore
Ebitda down 27.9% at Rs 56.5 crore
Ebitda margin at 16.3% vs 22.3%
Net profit down 0.09% at Rs 22.9 crore
Tax expenses went down as the company received deferred tax credit of Rs 5.89 crore. Sanjay Chabra has been appointed as the chief financial officer of the company, effective June 1, while Piyush Singh has been elevated to the position of chief operating officer.
IGSEC Heavy Engineering Q4 FY23 (Consolidated, YoY)
Revenue up 28% at Rs 2,042.7 crore
Ebitda up 54.3% at Rs 164.39 crore
Ebitda margin at 8.04% vs 6.67%
Net profit up 137.7% at Rs 93.16 crore
The board recommended a dividend of Rs 3 per share.
Speciality Restaurants Q4 FY23 (Consolidated, YoY)
Revenues up 21.9% at Rs 87.5 crore
Ebitda up 64.1% at Rs 13.7 crore
Ebitda margin at 15.6% vs 11.6%
Net profit up 1794.1% at Rs 55.31 crore
The company received tax credit of Rs 35.04 crore during the quarter under review. It also reported reversal of impairment charge of Rs 8.39 crore taken on account of Covid-19 pandemic, marked as exceptional item. The board approved a dividend of Rs 2.50 per share.
Q4 Results Today
Patanjali Foods, Adani Ports and Special Economic Zone, Apollo Hospitals Enterprise, Welspun Corp, Torrent Pharmaceuticals, Aegis Logistics, Prestige Estates Projects, Mazagon Dock Shipbuilders, V-Guard Industries, Rhi Magnesita India, Graphite India, Action Construction Equipment, FIEM Industries, Greenply Industries, Lemon Tree Hotels, 3M India, Authum Investment & Infrastructure, Arvind Fashions, Astrazeneca Pharma India, Black Box, Brightcom Group, DB Realty, Dollar Industries, EID-Parry (India), Gujarat Mineral Development Corporation, Indiabulls Real Estate, Indo Count Industries, India Pesticides, Jindal Worldwide, KIOCL, KRBL, Landmark Cars, Lux Industries, Mankind Pharma, Marksans Pharma, Mkventures Capital, MMTC, PC Jeweller, Prime Focus, PTC Industries, Rajesh Exports, Ramky Infrastructure, Rashtriya Chemicals & Fertilizers, Reliance Infrastructure, Suzlon Energy, Uflex
Block Deals
The Ramco Cements: Sharadha Deepa bought 2.83 lakh shares (0.11%) and Rajapalayam Mills sold 2.83 lakh shares (0.11%) at Rs 880 apiece.
Gravita India: Nomura Funds Ireland bought 4 lakh shares (0.57%), Employee Provident Fund 5.5 lakh shares (0.79%), the Nomura Trust bought 7.50 lakh shares (1.08%), the MTBJ account Nomura India bought 15 lakh shares (2.17%) and Rajat Agrawal sold 32 lakh shares (4.6%) at Rs 565 apiece.
Bulk Deals
Clean Science and Technology: Think India Opportunities Master Fund bought 8.82 lakh shares (0.83%), Nilima Krishnakumar B sold 8.78 lakh shares (0.82%), Asha Ashok B sold 18.65 lakh shares (1.75%) and Asha Ashok S sold 9.84 lakh shares (0.92%) at Rs 1406 apiece.
Who’s Meeting Whom
Thyrocare Technologies: To meet analyst and investors on May 30 and 31.
Nazara Technologies: To meet analyst and investors on June 2.
CESC: To meet analyst and investors on June 1.
Tata Communications: To meet analyst and investors on May 31.
PI Industries: To meet analyst and investors on May 30 and June 9.
ITC: To meet analyst and investors on June 1.
Mahindra & Mahindra: To meet analyst and investors on May 30 and June 1.
Trading Tweaks
Price Band Revised From 20% to 10%: Nucleus Software Exports
Ex-Date Special Dividend: ITC
Record Date Special Dividend: ITC
Ex-Date Interim Dividend: Vedanta
Record-Date Interim Dividend: Vedanta
Ex-Date Final Dividend: Rallis India
Record-Date Final Dividend: Rallis India
Move Into Short-Term ASM Framework: NDTV
Move Out of Short-Term ASM Framework: The Anup Engineering
Insider Trading
Bajaj Finserv: Promoter group Sheetal Bajaj sold 21,000 shares and promoter group Nirav Trust Nivraj Bajaj bought 21,000 shares on May 24.
F&O Cues
Nifty June futures ended at 18,674.85 a premium of 101.55 points.
Nifty June futures rose 0.16% and 311 shares in Open Interest.
Nifty Bank June futures ended at 44,365 a premium of 296.70 points.
Nifty Bank June futures fell 0.98% and 825 shares in Open Interest.
Securities added to the ban period: Nil
Securities removed from the ban period: Nil
Money Market Updates
Rupee closed 0.07% lower against the U.S. dollar at Rs 82.63 on Monday, compared to Friday’s close of 82.57.
Disclaimer: AMG Media Networks Ltd., a subsidiary of Adani Enterprises Ltd., holds 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.