Stocks declined along with bonds on Friday amid inflation, rising borrowing costs and China's Covid-19 lockdowns.
Equities in Hong Kong and China fell while Japan was mixed. U.S. futures declined as risk aversion swept away a relief rally after Federal Reserve's rate decision.
The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, fell over 1.5% to 16,432 points as of 6:45 am.
Nymex crude remains near $108 a barrel amid supply concerns following European Union proposal to sanction Russian oil. Bitcoin hovered around $39,600.
Earnings Post Market Hours
Marico Q4 FY22 (Consolidated, YoY)
Revenue up 7% at Rs 2,161 crore Vs Rs 2012 crore (Bloomberg Estimate: Rs 2,175 crore)
EBITDA up 8% to Rs 346 crore Vs Rs 319 crore (Bloomberg Estimate: Rs 359.24 crore)
EBITDA Margins at 16% Vs 15.9% (Bloomberg Estimate: 16.5%)
Net profit up 15% to Rs 251 crore from Rs 219 crore (Bloomberg Estimate: Rs 258.17 crore)
Adani Transmission Q4 FY22 (Consolidated, QoQ)
Revenue fell 2.19% at Rs 2,556.09 crore Vs Rs 2,613.35 crore (Bloomberg Estimate: Rs 2,951.1 crore)
EBITDA fell 6.04% at Rs 955.31 crore Vs Rs 900.88 crore (Bloomberg Estimate: Rs 1,051.9 crore)
EBITDA margin 32% Vs 30.9% (Bloomberg Estimate: 35.6%)
Net profit fell 14.02% at Rs 229.59 crore Vs Rs 267.03 crore (Bloomberg Estimate: Rs 238.4 crore)
TVS Motor Q4 FY22 (Standalone, YoY)
Revenue up 3.92% at Rs 5,530.31 crore Vs Rs 5,321.93 crore (Bloomberg Estimate: 5,645.7 crore)
EBITDA up 3.86% at Rs 556.82 crore Vs Rs 536.11 crore (Bloomberg Estimate: Rs 558.4 crore)
EBITDA margin remains flat at 10.07% (Bloomberg Estimate: 9.8%)
Net profit fell 5.1% at Rs 274.5 crore Vs Rs 289.24 crore (Bloomberg Estimate: Rs 262 crore)
Voltas Q4 FY22 (Consolidated, YoY)
Revenue up 0.56% at Rs 2,666.58 crore Vs Rs 2,651.66 crore (Bloomberg Estimate: Rs 2,703.1 crore)
EBITDA fell 21.08% at Rs 261.01 crore Vs Rs 330.73 crore (Bloomberg Estimate: Rs 297 crore)
EBITDA margin 9.79% Vs 12.47% (Bloomberg Estimate: 10.9%)
Net profit fell 23.15% at Rs 182.7 crore Vs Rs 237.73 crore (Bloomberg Estimate: 230.3 crore)
Recommended dividend of Rs 5.5 per share of face value of Rs 1 each
CEAT Q4 FY22 (Consolidated, YoY)
Revenue up 13.2% at Rs 2,591.99 crore Vs Rs 2,289.72 crore (Bloomberg Estimate: Rs 2,438 crore)
EBITDA 28.12% at Rs 187.50 crore Vs Rs 260.84 crore (Bloomberg Estimate: Rs 139.5 crore)
EBITDA margin 7.23% Vs 11.39% (Bloomberg Estimate: 5.72%)
Net profit fell 83.48% at Rs 25.25 crore Vs Rs 152.8 crore (Bloomberg Estimate: Loss of Rs 9.46 crore)
Recommended final dividend of Rs 3 per share of face value of Rs 10 each
DCM Shriram Q4 FY22 (Consolidated, YoY)
Revenue up 31.3% at Rs 2,855.62 crore Vs Rs 2,174.92 crore
EBITDA up 78.78% at Rs 616.92 crore Vs Rs 345.07 crore
EBITDA margin 21.6% Vs 15.87%
Net profit up 73.5% at Rs 401.19 crore Vs Rs 231.24 crore
Recommended final dividend of Rs 4.9 per share of face value of Rs 2 each
Cholamandalam Q4 FY22 (Standalone, YoY)
Revenue up 4.84% at Rs 2,580.34 crore Vs Rs 2,461.15 crore
EBIT up 40.44% at Rs 1,949.16 crore Vs Rs 1387.92 crore
EBIT margin 75.54% Vs 56.39%
Net profit up 183.53% at Rs 689.58 crore Vs Rs 243.21 crore
Recommended final dividend of Rs 0.7 per share of face value of Rs 2 each
Blue Star Q4 FY22 (Consolidated, YoY)
Revenue up 39.5% at Rs 2,247.58 crore Vs Rs 1,611.56 crore
EBITDA up 33.84% at Rs 142.95 crore Vs Rs 106.81 crore
EBITDA margin 6.36% Vs 6.63%
Net profit up 12.16% at Rs 76.16 crore Vs Rs 67.9 crore
Recommended dividend of Rs 10 per share of face value of Rs 2 each
Blue Dart Express Q4 FY22 (Consolidated, QoQ)
Revenue fell 7.08% at Rs 1,165.91 crore Vs Rs 1,254.75 crore
EBIT up 16.82% at Rs 199.28 crore Vs Rs 170.58 crore
EBIT margin 17.09% Vs 13.59%
Net profit up 10.98% at Rs 136.97 crore Vs Rs 123.42 crore
Sona BLW Precision Forgings Q4 FY22 (Consolidated, YoY)
Revenue up 1.98% at Rs 550.01 crore Vs Rs 539.34 crore
EBITDA fell 3.36% at Rs 135.38 crore Vs Rs 140.08 crore
EBITDA margin 24.61% Vs 25.97%
Net profit up 75.5% at Rs 104.65 crore Vs Rs 59.63 crore
Recommended final dividend of Rs 0.77 per share of face value of Rs 10 each
Procter & Gamble Health Q4 FY22 (Consolidated, YoY)
Revenue up 22.21% at Rs 267.82 crore Vs Rs 219.15 crore
EBITDA 123.8% at Rs 68.77 crore Vs Rs 30.73 crore
EBITDA margin 25.68% Vs 14.02%
Net profit up 224.41% at Rs 51.16 crore Vs Rs 15.77 crore
Recommended interim dividend of Rs 41 per share of face value of Rs 10 each.
Indus Towers Q4 FY22 (Consolidated, QoQ)
Revenue up 2.03% at Rs 711.63 crore Vs Rs 692.74 crore
EBITDA up 9.87% at Rs 406.98 crore Vs Rs 370.41 crore
EBITDA margin 57.19% Vs 53.47%
Net profit up 16.41% at Rs 182.85 crore Vs Rs 157.08 crore
Happiest Minds Q4 FY22 (Consolidated, QoQ)
Revenue up 5.86% at Rs 300.57 crore Vs Rs 283.94 crore
EBIT up 4.6% at Rs 62.83 crore Vs Rs 60.07 crore
EBIT margin 20.9% Vs 21.16%
Net profit up 6.52% at Rs 52.11 crore Vs Rs 48.92 crore
Recommended final dividend of Rs 2 of face value of Rs 2 each
Stocks To Watch
Wipro/HFCL: The company has entered into a partnership with HFCL to engineer a variety of 5G transport products that include Cell Site Router, DU (Distributed Unit) Aggregation Router, and CU (Centralized Unit) Aggregation Router.
Kotak Mahindra Bank: The bank has hiked deposit rates for one year and above deposits by 30-35 basis points effective Friday. It has also appointed Shanti Ekambaram as whole-time director.
Future Enterprises: The company has completed the sale of 25% stake in its General Insurance Joint Venture, Future Generali India Insurance to JV partner Generali Participations Netherlands for Rs 1,266.07 crore. Post completion of the transaction, the company continues to hold (directly and indirectly) 24.91% shares in the JV.
Phoenix Mills: The company has increased its stake in Classic Mall Development to 100% from 50% earlier. It has paid Rs 936 crore to acquire the 50% stake held by Crest Ventures and Escort Developers.
Earnings: Reliance Industries, Tata Power, Federal Bank, Canara Bank, CSB Bank, Grindwell Norton, Shipping Corporation of India, Paushak, HIL., Paisalo Digital, Great Eastern Shipping, Sundaram Clayton, Vesuvius India, Apollo Pipes, Apollo Tricoat Tubes, Greenpanel Industries, Bajaj Consumer
Offerings
LIC IPO: Subscription to resume on day three. The offer was subscribed 103% on day two. The issue will be open for subscription on Saturday and Sunday (May 7 and May 8) as well.
Pledged Shares Details
Steel Strips Wheels: Promoter & Director Dheeraj Garg revoked a pledge of 1 lakh shares on May 4.
Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 4.2 lakh shares on April 29.
Who's Meeting Whom
Tata Consumer Products: To meet investors on May 6.
DCM Shriram: To meet analysts and investors on May 9.
Go Fashion: To meet investors on May 9.
PVR: To meet analysts and investors on May 9.
HIL: To meet analysts and investors on May 10.
Suven Pharma: To meet investors on May 10.
Aarti Drugs: To meet analysts and investors on May 10.
Cosmo Films: To meet analysts and investors on May 10.
Stylam Industries: To meet investors on May 11.
Trading Tweaks
Price Band Revised From 20% To 10%: Network 18 Media & Investments, TV18 Broadcast
Record Date Interim Dividend: Sarda Energy & Minerals
Record Date Buy Back: Sarda Energy & Minerals
Ex-Date Interim Dividend: Crisil
Ex-Date Interim Dividend: Vedanta
Ex-Date Distribution: Embassy Office Parks REIT
Move Into Short-Term ASM Framework: Network18 Media & Investments, TV18 Broadcast
Move Out Of Short-Term ASM Framework: HBL Power Systems
Money Market Update
The rupee ended Rs 76.26 at against the U.S. Dollar on Thursday as compared to Wednesday's closing of 76.42.
F&O Cues
Nifty May futures ended at 16,681, a discount of 1.65 points.
Nifty May futures shed 3.69% and 7,928 shares in Open Interest.
Nifty Bank May futures ended at 35,192.50, a discount of 40.35 points.
Nifty Bank May futures shed 4.21% and 4,926 shares in Open Interest.
Research Reports
Stock Market Strategy - Markets Tumble Amid Global Risk-Off; India Outperforming: Motilal Oswal
RBI Monetary Policy Review - Hike In The Repo Rate, CRR Much Required At This Point: CareEdge
Varroc Engineering - Lighting Business Divestment; A Paradigm Shift In RoCE: ICICI Securities
MPC's Inter-Meeting Rate Hike -Countering Commodity Inflation: ICICI Securities
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