Stock Market Today: Nifty, Sensex End Higher For Second Day As HDFC Bank Ltd., ICICI Bank Lead Gains

• The local currency weakened by 3 paise to close at 83.52 against the U.S dollar.

• It closed at 83.49 on Friday.

Source: Bloomberg

India's benchmark indices recovered from the day's low to end higher for a second consecutive session as heavyweight HDFC Bank Ltd., ICICI Bank Ltd., and Tata Consultancy Services Ltd. rose.

The NSE Nifty 50 settled 48.85 points or 0.22% higher at 22,104.05, and the S&P BSE Sensex ended 111.66 points or 0.15% higher at 72,776.13.

During the day, the NSE Nifty 50 declined 1.06%, or 234.15 points, to 21,821.05, and the S&P BSE Sensex fell 1.10%, or 798.46 points, to 71,866.01.

The NSE Nifty 50 recovered nearly 299 points from the day's low, and the S&P BSE recouped 910.12 points.

"Indian equities commenced the week on a tepid note and in the opening trade itself, the Index lost its psychological support of 22,000 to test crucial support of 21,830. After oscillating around the support level, a V-shaped recovery was seen in the markets which pushed the Index higher to reclaim the level of 22,000. With gains of 48.85 points, Nifty50 settled the day at 22,104.05," said Aditya Gaggar, director, Progressive Shares.

Pharma and Metal counters contributed the most in the recovery followed by Banking counters while the Auto sector was in the reverse gear in today's trade. Disparity was seen in the Broader markets where Midcaps gained over 0.40% to outperform the Benchmark Index while Smallcaps ended the session in red and underperformed. On the daily time frame, the Index successfully held its support of 21,830 and reversed to form a bullish candlestick pattern. As per the pattern, it seems that the short-term bottom is placed. Once the Index gives a convincing move above the immediate hurdle of 22,250, then we can consider a reversal of the trend.

HDFC Bank Ltd., ICICI Bank Ltd., Tata Consultancy Services Ltd., Asian Paints Ltd., and Cipla Ltd. added to the index.

Tata Motors Ltd., Reliance Industries Ltd., Bharti Airtel Ltd., State Bank of India, and NTPC weighed on the benchmark.

On NSE, seven sectors out of 12 ended higher, and five ended lower. The NSE Nifty Auto was the worst performing sector. The NSE Nifty Pharma index was the best performing sector.

Broader markets ended on a mixed note. The S&P BSE Midcap ended 0.36% higher, and the S&P BSE Smallcap settled 0.23% lower.

On BSE, seven sectors declined and thirteen advanced out 20. The S&P BSE Auto was the worst performing sector, and the S&P BSE Services emerged as the top performing sector

Market breadth was skewed in favour of the sellers. Around 2,176 stocks declined, 1,780 stocks advanced, and 131 remained unchanged on BSE.

• Revenue rose 21.65% to Rs 252.52 crore from Rs 207.57 crore

• Ebitda grew 41.16% to Rs 35.97 crore from Rs 25.48 crore

• Margin rose 196 basis points to 14.24% from 12.27%

• Net profit rose 58.35% to Rs 21.03 crore from Rs 13.28 crore

• Revenue rose 16.17% to Rs 106.9 crore from Rs 92.02 crore

• Ebit rose 9.57% to Rs 35.35 crore from Rs 32.26 crore

• Ebit margin fell 198 basis points to 33.06% from 35.05%

• Net profit rose 23.22% to Rs 38.25 crore from Rs 31.04 crore

• Board approves final dividend of Rs 3.5/share

• Reported revenue rose 32% to Rs 12,079 crore

• Reported net profit rose 33% to Rs 812 crore

• MF quarterly average AUM rose 21% to Rs 3.32 lakh crore

• NBFC disbursements rose 16% to Rs 18,123 crore

• NBFC loan portfolio rose 31% to Rs 1.06 lakh crore

BEML Ltd. jumped over 14% on Monday after the company reported nearly 63% surge in its net profit.

Its consolidated annual net profit grew 62.84% on the year to Rs 256.8 crore in January-March from Rs 157.7 crore.

BEML Ltd. jumped 14.33% to Rs. 3,670.00, the highest level since May 3. It was trading 12.81% higher at Rs 3,616.95 as of 2:37 p.m., as compared to 0.29% advance in the NSE Nifty 50 index.

The scrip gained 157.12% in 12 months, and on year-to-date basis, it has risen 27.95%. Total traded volume so far in the day stood at 11 times its 30-day average. The relative strength index was at 60.32.

Out of five analysts tracking the company, three maintain a 'buy' rating, one recommend a 'hold,' and one suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside/downside of 18.2%.

• Revenue fell 15% to Rs 14,078 crore from Rs16,569 crore

• Ebitda margin fell 330 basis points to 13.1% from 16.4%

• Ebitda fell 32% Rs 1,848 crore from Rs 2,722 crore

• Net loss at Rs 80 crore vs profit of Rs1,080 crore

• One time loss of Rs 105 crore in Q4

• Revenue up 19% at Rs 4,490 crore from Rs 3,778 crore

• Ebitda down 8.3% at Rs 451 crore from Rs 492 crore

• Margin fell 300 basis points to 10% from 13%

• Net profit down 43% at Rs 271 crore from Rs 477 crore

• Revenue rose 17.35% to Rs 276.12 crore from Rs 235.29 crore

• Ebitda rose 32.75% to Rs 53.22 crore from Rs 40.09 crore

• Margin rose 223 basis points to 19.27% from 17.03%

• Net profit rose 44.01% to Rs 44.07 crore from Rs 30.6 crore

• Revenue rose 2.46% to Rs 548.8 crore from Rs 535.6 crore

• Ebitda rose 5.01 to Rs 94.98 crore from Rs 90.45 crore

• Margin rose 41 basis points to 17.3% from 16.88%

• Net profit rose 19.77% to Rs 75.7 crore from Rs 63.2 crore

• Board recommends dividend of Rs 60/share

The NSE Nifty Bank recovered 472.25 points from the day's low. It was trading 61.45 points or 0.13% higher at 47,482.55 as of 12:36 p.m.

• KPI Green Energy Ltd. approved raising up to Rs 1,000 crore via QIP

Source: Exchange filing

• Total production at 70,025 units, up 19%

• Total sales at 68,614 units, up 13%

• Total exports at 1,857 units, up 2%

Source: Exchange filing

• Revenue up 11% to Rs 4,398 crore from Rs 3,953 crore

• Ebitda up 24% at Rs 989 crore from Rs 798 crore

• Margin up 230 bps at 22.5% from 20.2%

• Net profit up 25 X% at Rs 548 crore from Rs 439 crore

• Thangamayil Jewellery saw 45% YoY growth in Akshaya Tritiya sales in May 2024

• Highest ever Akshaya Tritiya sales at Rs 157.3 crore in 2024 vs Rs 108.5 crore in 2023

• Gold sales volumes rose 24.5% YoY

Source: Exchange filing

• Risk appetite through higher loan growth to remain a consideration for banks' creditworthiness

• Sustainable risk-adjusted returns also important

• Past volatility weighed heavily on banks' performance in a weaker operating environment

• Asset quality pressures from the previous credit cycle now subsiding

• RBI's recent measures reinforced improvements in governance, risk management etc.

• Measures fostered caution towards risk-taking, but effectiveness yet to be proven

• Bharti Airtel Ltd. signed a pact with Google Cloud for collaboration on cloud adoption and gen AI solutions.

• More than 300 employees to be trained to on both Google Cloud and digital services.

Source: Exchange filing

Sharda Cropchem Ltd. rose to over two-month high on Monday after the company surprised the street with its better-than-expect fourth quarter earning.

The pesticide producer's consolidated net profit fell 27.84% on the year to Rs 143 crore during January-March, which is higher than Rs 63 crore net profit a Bloomberg Survey forecasted.

Sharda Cropchem Ltd. rose as much as 9.40% to Rs 395.00, the highest level since Feb 2. It was trading 7.82% higher at Rs 389.30 as compared to 0.43% decline in the NSE Nifty 50 index as of 11:45 a.m.

The scrip declined 22.73% in 12 months, and on year-to-date basis, it has declined 13.06%. Total traded volume so far in the day stood at 21 times its 30-day average. The relative strength index was at 66.57.

Out of seven analysts tracking the company, four maintain a 'buy' rating, three recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies an upside of 18.5%.

Shares of Cipla Ltd. surged over 6% on Monday after the drugmaker's consolidated net profit in the fourth quarter of financial year 2024 beat analysts' estimates.

Cipla's stock rose as much as 6.45% during the day to Rs 1,425.95 apiece on the NSE. It was trading 5.53% higher at Rs 1,413.6 per share, compared to a 0.89% decline in the benchmark Nifty at 10:34 a.m.

The share price has risen 53.2% in the last 12 months and 10% on a year-to-date basis. The total traded volume so far in the day stood at 15 times its 30-day average. The relative strength index was at 51.

Twenty-six out of the 38 analysts tracking the company have a 'buy' rating on the stock, six recommend 'hold' and as many suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 4.4%.

Shares of Piramal Pharma Ltd. surged to a 52-week high on Monday after the company's profit doubled in the fourth quarter.

Shares of Piramal Pharma rose as much as 10.8% before paring gains to trade 7.01% higher at 10:08 a.m., compared to a 0.94% decline in the benchmark Nifty 50.

The stock has risen 122% in the last 12 months and 14.6% year-to-date. Total traded volume so far in the day stood at 19 times its 30-day average. The relative strength index was at 68.

All seven analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 3.7%.

Shares of Bank of India declined 12.43% to Rs 121.50, the lowest level since Jan 12.

The scrip gained 55.51% in 12 months, and on year-to-date basis, it has risen 8.7%. Total traded volume so far in the day stood at 5.0 times its 30-day average. The relative strength index was at 29.41, which implied the stock is oversold.

Out of five analysts tracking the company, three maintain a 'buy' rating, one recommends a 'hold,' and one suggests 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 28.4%.

Shares of Neuland Laboratories Ltd. tumbled nearly 15% to the lowest since April 9 on Monday after its profit declined 20% in the quarter ended March 2024, but beat analysts' estimates.

Shares of Neuland Laboratories fell 14.73% to Rs 6,088.10 apiece, touching the lowest level since April 9. It was trading 14.6% lower at Rs 6,124.50 as of 10:28 a.m., compared to 0.82% decline the NSE Nifty 50 index.

The scrip gained 106.86% in 12 months and 16.21% so far this year. The total traded volume so far in the day stood at 7.5 times its 30-day average. The relative strength index was at 33.34.

Both the analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 33.8%.

Indegene Ltd., listed today on NSE, declined 19.53% to Rs 527.10. It was the listed at Rs 655.00. As of 10:43 a.m., the stock was 19.01% lower at Rs 530.50, as compared to 1.02% decline in the NSE Nifty 50 index.

Home Minister Amit Shah is not so worried about markets' recent fall. Benchmarks have declined more in the past as well, thus linking their movements directly to elections isn't wise, he said in an interview with Vikas Bhadauria, national affairs editor, NDTV India

The India NSE Volatility jumped 10.80% to 21.41, the highest level since Oct 3, 2022. As of 10:15 a.m., the index was 12.87% higher at 20.86.

Tata Motors Ltd.'s Ebitda during January-March rose 32.81% on the year to Rs 16,995 crore compared to Rs 17,407 crore analysts forecasted in a Bloomberg's survey.

Tata Motors Ltd.'s shares declined as much as 8.27% to Rs 960.10 apiece, the lowest level since April 19. It was trading 7.89% lower at Rs 963.65 apiece, as of 09:56 a.m. This compares to a 0.87% decline in the NSE Nifty 50 Index.

It has risen 83.10% in 12 months. Total traded volume so far in the day stood at 12 times its 30-day average. The relative strength index was at 43.71

Out of 34 analysts tracking the company, 21 maintain a 'buy' rating, six recommend a 'hold,' and seven suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 10.3%.

• On NSE, Indegene listed at Rs 655, 44.91% premium

• On BSE, the company's stock listed at RS 659.70, 45.95% premium

Shares of ABB India Ltd. rose as much as 8.54% to Rs 7,791.50, the highest level since its listing on Jan 8, 2010. It was trading 6.86% higher at Rs 7,670.15 as of 09:44 a.m., as compared to 0.91%T decline in the NSE Nifty 50 index.

The company's net profit surged 87.54% on the year to Rs 459 crore during January-March.

India's benchmark erased gains from previous session at open as share prices of Tata Motors Ltd., Reliance Industries Ltd. dragged.

As of 09:23 a.m., the NSE Nifty 50 was trading 114.75 points or 0.52% lower at 21,940.45, and the S&P BSE Sensex was 428.10 points or 0.59% down at 72,236.37.

The NSE Nifty 50 index opened at 22,033.05, compared to Friday's close of 22,055.2. The S&P BSE Sensex opened at 72,481.62 as compared to previous close of 72,664.47.

"We are of the view that, the short-term texture of the market is still on the weak side but due to temporary oversold conditions, we could see one pullback rally from the current levels," said Amol Athawale, vice president, technical research, Kotak Securities.

For traders now, 22,000/72,500 and 21,950/72,300 are important support levels. Above the same, the market could bounce back up to 22,200/73,000, Athawale said.

Further upside may also continue which could life the market till 50 day SMA or 22y,300/73300. On the flip side, fresh selling possible only after dismissal of 21,950/72,300, below which the market could correct till 21800-21700/71800-71500. For Bank Nifty, after a sharp correction currently it is trading near 50 day SMA. For the traders 47,500 would be the key level to watch out, above the same it could bounce back till 20 day SMA or 48200. On the flip side, below 47,500 the chances of hitting 47,100-47,000 would turn bright, he added.

Tata Motors Ltd., Reliance Industries Ltd., Larsen & Toubro Ltd., Infosys Ltd., and Mahindra & Mahindra Ltd. dragged the benchmark.

Cipla Ltd., Sun Pharmaceutical Industries Ltd., Adani Ports & Special Economic Zones Ltd., Kotak Mahindra Bank Ltd., and ITC Ltd. added to the index.

On NSE, 10 sectors out of 12 opened in red, while two rose. The NSE Nifty Auto index declined nearly 2% during open to become the worst performing sector. The NSE Nifty Pharma was the best performing sector.

Broader markets were also trading lower on BSE. The S&P BSE Midcap was 0.96% lower, and the S&P BSE Smallcap was 1.06% down.

On BSE, 19 sectors out of 20 declined, and one advanced. The S&P BSE Auto was the worst performing sector, and the S&P BSE Healthcare was the best performing sector.

Market breadth was skewed in favour of sellers. Around 2,079 stocks declined, and 1,055 stocks advanced, and 150 stocks remained unchanged on BSE.

• Motilal Oswal kept 'Buy' with target price Rs 7,850 which implied 28% upside

• Strong delivery continues; gains market share further

• Ebitda came in 15% higher than estimates with wires segment above 15%

• Market share improved by 200 bps to 25% in W&C according to management

• Raise EPS estimates by 5% each for FY25 and FY26, considering higher growth

At pre-open, the NSE Nifty 50 was 27.25 points or 0.12% lower at 22,027.95, and the S&P BSE Sensex was 187.82 points or 0.26% lower at 72,476.65.

• The yield on the 10-year bond opened flat at 7.12%.

• It closed at 7.13% on Friday.

Source: Bloomberg

• The local currency opened flat at 83.50 against the U.S. dollar.

Source: Bloomberg

• Biocon Ltd. has signed a semi-exclusive distribution and supply deal with Medix for commercialisation of Liraglutide in Mexico.

Source: Exchange filing

• Witnessing continued robust momentum in footfalls & revenue from the beginning of FY25

• Traction continued during Akshaya Tritiya, registering strong footfalls from existing as well as new customers

• Saw robust retail revenue growth across gold & studded segments in India and Middle East

• Saw early double-digit same-store-sales-growth in YoY terms for first 40 days of April

Source: Exchange filing

• Citi Research maintained a 'Buy' with a target price of Rs1,650, which implied a 23% upside.

• The fourth quarter Ebitda came 4% below Citi est as higher opex offset improvement in gross margins

• India growth was tepid at 7% YoY due to weakness in consumer segment

• India remains one of key priorities for capital allocation

• Mgmt guided Ebitda margin at 24.5%-25.5% for FY25E

• Believe co is prepared well for post gRevlimid scenario

• Pipeline of respiratory, Injectables may help to mitigate impact of decline in gRevlimid.

• USFDA inspection on Goa facility expected in 2QFY25, remediation is on for Indore facility

• Trade generics may see some disruption in 1QFY25 due to change in distribution model

• Raises FY25-27E EPS by 4-7%, factoring in margin guidance and some additional assets in US

• WA Tech Wabag repeat order of about $49 million from Kathmandu Upatyaka Khanepani funded by Asian Development Bank.

• Order for 3 waste water treatment plants in Nepal to be completed over 24 months.

Source: Exchange filing

• U.S. Dollar Index at 105.36

• U.S. 10-year bond yield at 4.49%

• Brent crude down 0.57% at $77.81 per barrel

• Nymex crude down 0.63% at $82.72 per barrel 

• Bitcoin was up 0.22% at $61,410.07

• The GIFT Nifty trades 29.5 points or 0.13% higher at 22,086.50 as of 7:38 a.m.

• Nuvama kept 'reduce' on Tata Motors with a target price Rs 940 apiece, which implied a downside of 10%.

• The Q4 miss due to lower CV, PV numbers; JLR/CV business to moderate.

• JLR Order book exhaustion and high base should lead to single-digit growth in FY25.

• Muted showing in India CV is likely due to loss of share to railways.

• Building in a moderate revenue/Ebitda CAGR of 8%/13% over FY24–26.

• Elara Capital maintains an 'accumulate' rating with target price Rs 1,100 apiece, which implies an upside of 5%.

• In-line results; near-term outlook muted.

• Margin expands 190 bps YoY; JLR EBIT margin widens 40 bps QoQ to 9.1%.

• Weak CV with slow Q1 and PV outlook; JLR FY25 EBIT guidance flat YoY.

• Factor in 2% JLR volume CAGR over FY26, with EBIT 9.3%

• Flat India CV Volumes with monitoring margins

• Citi Research maintains a 'buy' with target price Rs 5,300, up from Rs 4,600, upside 14%

• Strong results, outlook is positive.

• Management expecting double-digit YoY growth in the middleweight bikes segment.

• VECV outlook cautious due to elections, cuts estimates by 11% in FY25.

• Increase RE estimate by 6–7% over FY26.

• Changes target P/E multiple for Royal Enfield to 30x from 29x.

• Emkay Global Research kept a 'sell' on Eicher Motors with target price Rs 3,400, which implies a downside of 27%.

• In-line quarter; growth concerns remain.

• Growth remains a challenge with recent Himalayan launch yet to take off meaningfully

• Concerns around incremental growth potential from upcoming 450cc launches, given segment’s limited size.

• Replacement/upgrade demand for RE remains elusive.

• Raises FY26 EPS by 5% on two-wheeler recovery and margin improvement.

• Jefferies maintains 'buy' on TCI Express with a target price of Rs 1,825 per share, 67.6% upside from the previous close.

• Q4 Ebitda missed estimates as volumes bottomed out.

• Volume growth guidance of 10–12% for FY25.

• Pharma, textile, lifestyle products have been under pressure.

• On a low base, FY25 to do better than guidance.

• FY24 capital expenditure lower as management looks to conserve cash.

• Expects 25% FY24–27 EPS CAGR with over 20% return on equity.

• Nomura maintains a 'neutral' rating on Mahanagar Gas at Rs 4,610 target, which implies a 20% upside.

• The Q4 Ebitda missed estimates by 3% on higher overhead costs.

• Ebitda per tonne at Rs 1.075 on weaker pricing

• Higher input gas costs due to lower APM allocation of 74% vs 78% in Q3.

• FY25 capex guidance of Rs 900–1,000 crore.

• Raises FY25/26 Ebitda estimates by 8%/5%.

• Factor higher volumes of 3.9 mscmd in FY25.

• Benign near-term outlook on healthy volume growth aided by UEPL and newer GAs.

• Citi upgraded the company to 'buy', with a target price of Rs 1,550 apiece, 18.6% upside from the previous close.

• Fourth-quarter Ebitda of 6% below brokerage estimates on higher-than-expected decline in margins.

• Risk/reward has turned attractive following 15% stock correction.

• Management expects higher nearer-term volume growth at 6–7% compound annual growth rate.

• Regulatory concerns are now largely priced in.

• Lowers FY25–26 Ebitda estimates by 4–5% on slightly lower margin assumptions.

• Motilal Oswal maintained 'Buy' on ABB India with a Target Price Rs 8,500 from Rs 7,500.

• The target price implied an 18% upside.

• ABB India numbers were much ahead of estimates, strong margin improvement

• Revenue was largely in line with our estimate

• Ebitda margin at all-time-high of 18.3%

• Margin led by superior product mix, services revenue and exports

• Margins have surprised positively across segments

• Further scope for margin improvement

• Raise our margin estimates to 17.4%/17.3%/16.6% for CY24/CY25/CY26

• PAT CAGR of 30% over CY23-26

• Valuations imply 70x P/E on Jun’26E EPS

• Jefferies retains 'buy' on ABB with a target price of Rs 8,845 apiece, 27% upside from the previous close.

• Ebitda was a 52% beat year-on-year, no one-offs.

• Renewables, a moderate growth area versus high growth earlier.

• Revises earnings per share for 2024, 2025 by 1–4%.

• Motilal Oswal maintains 'buy' on the lender with a target price of Rs 300, 18% upside from the previous close.

• Net profit in line with estimates, driven by higher other income.

• Net interest margin improved 17 basis points quarter on quarter, partly supported by recoveries.

• High provisioning expenses as the bank further provided for aviation exposure.

• Bank expects 12–14% loan growth in FY25.

• Raises FY25/FY26 earnings-per-share estimates by 1.9%/2.8% on account for stable margin, contained provisions.

• Estimates FY26 return on asset and return on equity of 1.22% and 17.3%, respectively.

• Motilal Oswal maintains 'buy' on the company with the target price at Rs 1,650 apiece, 16% upside from the previous close.

• Positive gross margin trends across brands due to a benign raw material basket.

• Maintains a cautious stance on quick service restaurants for the near term on ongoing demand challenges.

• KFC's store addition to sustain in FY25.

• Pizza Hut's store addition to be muted as management aims to fix profitability metrics.

• Expects stability in growth metrics, and better unit economics in the second half of FY25.

• Estimates 4%/6% profit-before-tax margin for FY25/FY26.

• Emkay downgrades Sapphire Foods to 'add' from 'buy' with a target price of Rs 1,600 apiece, 12% upside from the previous close.

• Stock downgrade on the expectation of muted trends in the first half of FY25 across formats.

• Gross margin expanded 90 basis points, led by benign raw material costs.

• Cuts FY25/26 Ebitda estimates by 16%/6%.

• Faster same-store growth recovery remains potential upside to estimates.

• Nuvama retains 'buy' on Sapphire Foods at Rs 1,812 target (27% upside)

• The stock stays top pick on KFC's stability.

• Its Q4 revenue in line with brokerage estimates

• Management to slow down Pizza Hut store expansion in order to revive the brand.

• Better growth prospects in Sri Lanka with economy/political milieu stabilising.

• The brokerage cuts FY25.26 Ebitda estimates by 3%/4%.

• Nifty May futures up by 1.43% to 22,140 at a premium of 84.8 points.

• Nifty May futures open interest down by 3.7%.

• Nifty Bank May futures down by 1.05% to a premium of 186.15 points.

• Nifty Bank May futures open interest down by 1.02%.

• Nifty Options May 16 Expiry: Maximum call open interest at 23,000 and maximum put open interest at 21,000.

• Bank Nifty Options May 15 Expiry: Maximum call open interest at 48,000 and maximum put open interest at 45,000.

• Securities in ban period: Balrampur Chini Mills, Canara Bank, GMR Infra, Hindustan Copper, Vodafone Idea, PNB, SAIL, Zee Entertainment Enterprises.

The Indian currency strengthened by 2 paise to close at Rs 83.49 against the US dollar on Friday.

• Steel Exchange of India: Vizag Profiles sold 59 lakh shares (0.49%) at Rs 13.25 apiece.

• Moved into short-term ASM framework: Allsec Technologies, Cartrade Tech, Future Consumer,

• Ex/record dividend: Aptech, HDFC Bank, Transformers and Rectifiers, Bank of Maharashtra, Ramkrishna Forgings, UCO Bank, DCB Bank.

• Indegene: The company's shares will debut on the stock exchanges on Monday at an issue price of Rs 452 apiece. The Rs 1,841.8-crore IPO was subscribed 69.91 times on its third and final day.

• TBO Tek: The public issue was subscribed to 86.7 times on day 3. The bids were led by institutional investors (125.51 times), non-institutional investors (50.6 times), retail investors (25.74 times), and portion reserved for employees (17.82 times).

• Aadhar Housing Finance: The public issue was subscribed 25.49 times on day 3. The bids were led by institutional investors (72.78 times), non-institutional investors (16.5 times), retail investors (2.46 times), and portion reserved for employees (6.52 times).

• Vedanta: The company's unit, CIHL, acquired an additional 46.57% stake in AvanStrate for 12.2 billion yen.

• Wipro: The company appointed Vinay Firake as CEO for the Asia Pacific, India, Middle East, and Africa strategic market unit.

• Lupin: The US Court has lifted a temporary restraining order for Mirabegron ER Tablets. The shipment of the product has now resumed.

• Housing & Urban Development Corp.: The company is in a pact with Surat Integrated Transportation Development Corp. for the development of the Surat Multi-Modal Transportation Hub.

• Aditya Birla Fashion and Retail: The company’s arm, Clothing Retail, allotted shares worth Rs 100 crore. The company’s stake in the arm stands at 85.54%, up from 80% earlier.

• Andhra Paper: The company is in a pact with Sweden-based Valmet AB for the supply and commissioning of a tissue paper production line.

• Lemon Tree Hotels: The company signed a pact for an upcoming 60-room hotel in Bareilly, Uttar Pradesh.

• Nuvama Wealth Management: Mihir Nanavati resigned from the position of CFO effective May 14. The company appointed Bharat Kalsi as CFO effective May 15.

• Prestige Estates Projects: Venkata Narayana K resigned from the position of CEO.

UPL, Jindal Steel & Power, Zomato, DLF, GIC Housing Finance, Inox India, Varun Beverages, Aarti Pharmalabs, Aditya Birla Capital, Cera Sanitaryware, Chalet Hotels, Ethos, Electrosteel Castings, CE Info Systems, Sanofi India, Tube Investments Of India

Aarti Pharmalabs, Aditya Birla Capital, Alembic, Bombay Burmah Trading Corp, BLS E-Services, Cera Sanitaryware, Chalet Hotels, DLF, Ethos, Electrosteel Castings, GIC Housing Finance, INOX India, Jindal Steel and Power, C.E. Info Systems, Sanofi India, Tube Investments of India, UPL, Varun Beverages, and Zomato.

Tata Motors (Consolidated, YoY)

• Revenue up 13.26% at Rs 1.19 lakh crore vs Rs 1.05 crore (Bloomberg estimate Rs 1.21 lakh crore).

• Ebitda up 32.81% at Rs 16,995 crore vs Rs 12,795 crore, (Bloomberg estimate Rs 17,407 crore).

• Margin up 208 bps at 14.16% vs 12.07%, (Bloomberg estimate 14.4%).

• Net profit up 218.93% at Rs 17,529 crore vs Rs 5,496 crore, (Bloomberg estimate 6,967 crore).

• Note: Deferred tax write-back of Rs 9,478 crore vs Rs 1,737 crore.

Kalyan Jewellers (Consolidated, YOY)

• Revenue up 34.09% at Rs 4535 crore vs Rs 3388 crore, (Bloomberg estimate Rs 4506 crore).

• Ebitda up 19.27% at Rs 306 crore vs Rs 257 crore, (Bloomberg estimate Rs 315 crore).

• Margin down 83 bps at 6.75% vs 7.59%, (Bloomberg estimate 7%).

• Net profit up 97% at Rs 137 crore vs Rs 69.79 crore, (Bloomberg estimate Rs 140 crore).

TCI Express (Consolidated, YoY)

• Revenue down 2.81% at Rs 317 crore vs Rs 326 crore, (Bloomberg estimate Rs 328 crore).

• Ebitda down 17.17% at Rs 44.84 crore vs Rs 54.14 crore, (Bloomberg estimate Rs 51 crore).

• Margin down 245 bps at 14.14% vs 16.59%, (Bloomberg estimate 15.6%).

• Net profit down 17.84% at Rs 31.59 crore vs Rs 38.45 crore, (Bloomberg estimate 35.04 crore).

Dilip Buildcon (Consolidated, YOY)

• Revenue up 18.46% at Rs 3365 core vs Rs 2841 crore.

• Ebitda up 93.9%at Rs 329 crore vs Rs 170 crore.

• Margin up 381 bps at 9.79% vs 5.98%.

• Net profit up 24.04% at Rs 287 crore vs Rs 231 crore.

Q1 Earnings ABB India (YOY)

• Revenue up 27.75% at Rs 3080 crore vs Rs 2411 crore.

• Ebitda at up 98.09% Rs 565 crore vs Rs 285 crore.

• Margin up 651 bps at 18.34% vs 11.83%.

• Net profit up 87.54% at Rs 459 crore vs Rs 245 crore.

VIP Industries (Consolidated, YoY)

• Revenue up 14.6% at Rs 516 crore vs Rs 451 crore (Bloomberg estimate Rs 513 crore).

• Ebitda down 87.8% at Rs 8 crore vs Rs 64 crore (Bloomberg estimate Rs 49 crore).

• Margin at 1.5% vs 14.3% (Bloomberg estimate 9.6%).

• Net loss of Rs 24 crore vs loss of Rs 4.3 crore (Bloomberg estimate).

Neuland Laboratories (Consolidated, YoY)

• Revenue down 5.4% at Rs 385 crore vs Rs 407 crore (Bloomberg estimate Rs 415 crore).

• Ebitda down 10.8% at Rs 107 crore vs Rs 120 crore.

• Margin at 27.8% vs 29.5%.

• Net profit down 20% at Rs 67.6 crore vs Rs 84.5 crore (Bloomberg estimate 24.4 crore).

Cholamandalam Financial (Consolidated, YOY)

• Total income up 35.53% at Rs 7158 crore vs Rs 5,281 crore.

• Net profit up 26.97% at Rs 1144 crore vs Rs 901 crore.

Bank Of India (YoY)

• NII up 7% at Rs 5,936 crore vs Rs 5,524 crore.

• Net profit up 6.55% at Rs 1,439 crore vs Rs 1350 crore.

• Gross NPA at 4.98% vs 5.35% (QoQ).

• Net NPA at 1.22% vs 1.41% (QoQ).

Thermax (Consolidated, YoY)

• Revenue up 19.59% at Rs 2764 crore vs Rs 2311 crore.

• Ebitda up 36.64% at Rs 273 crore Rs 200 crore.

• Margin up 123 bps at 9.88% vs 8.65%.

• Net profit up 20.08% at Rs 187 crore vs Rs 156 crore.

Sharda Cropchem (Consolidated, YoY)

• Revenue down 11.46% at Rs 1312 crore vs Rs 1481 crore, (Bloomberg estimate Rs 1043 crore).

• Ebitda down 19.92% at Rs 255 crore vs Rs 318 crore, (Bloomberg estimate Rs 139 crore).

• Margin down 205 bps at 19.42% vs 21.47%, (Bloomberg estimate 13.3%).

• Net profit down 27.84% at Rs 143 crore vs Rs 199 crore, (Bloomberg estimate Rs 63 crore).

Aarti Industries (Consolidated, YoY)

• Revenue up 7.06% at Rs 1773 crore vs Rs 1656 crore, (Bloomberg estimate Rs 1,851 crore).

• Ebitda up 12.3% at Rs 283 crore vs Rs 252 crore, (Bloomberg estimate Rs 289 crore).

• Margin up 74 bps at 15.96% vs 15.21%, (Bloomberg estimate 15.6%).

• Net profit down 11.4% at Rs 132 crore vs Rs 149 crore, (Bloomberg estimate Rs 131 crore).

Syrma SGS Technology (Consolidated, YOY)

• Revenue up 66.89% at Rs 1134 crore vs Rs 680 crore, (Bloomberg estimate Rs 973 crore).

• Ebitda up 29.29% at Rs 73.66 crore vs Rs 56.97 crore, (Bloomberg estimate Rs 80 crore).

• Margin down 188 bps at 6.49% vs 8.38%, (Bloomberg estimate 8.2%).

• Net profit up 5.43% at Rs 45.21 crore vs Rs 42.88 crore, (Bloomberg estimate Rs 45 crore).

Punjab and Sind Bank (YoY)

• NII up 1% at Rs 689 crore vs Rs 684 crore.

• Net down 69.5% profit at Rs 139 crore vs Rs 457 crore, down 69.5%.

• Gross NPA at 5.43% vs 5.70% (QoQ).

• Net NPA at 1.63% vs 1.80% (QoQ).

Union Bank of India (Standalone, YoY)

• NII at Rs 9436 vs Rs 8250, up 14%.

• Gross NPA at 4.76% vs 4.83% (QoQ).

• Net NPA at 1.03% vs 1.08% (QoQ).

• Net profit up 18.98% at Rs 3310 crore vs Rs 2782 crore.

• Board recommends dividend of Rs 3.6 per share.

Piramal Pharma (Consolidated, YoY)

• Revenue up 17.96% at Rs 2552 crore vs Rs 2163 crore (Bloomberg estimate Rs 2482 crore).

• Ebitda up 51.08% at Rs 531 crore vs Rs 351 crore, (Bloomberg estimate Rs 469 crore).

• Margin up 455 bps at 20.79% vs 16.23%, (Bloomberg estimate 18.9%)

• Net profit up 102.09% at Rs 101 crore vs Rs 50 crore, (Bloomberg estimate Rs 208 crore)

AMI Organics - (Consolidated, YoY)

• Revenue up 20.69% at Rs 225 crore vs Rs 186 crore, (Bloomberg estimate Rs 213 crore)

• Ebitda up 5.6% at Rs 43.14 crore vs Rs 40.85 crore, (Bloomberg estimate Rs 34.28 crore).

• Margin down 273 bps at 19.17% vs 21.91%, (Bloomberg estimate 16.1%).

• Net profit down 5.62% at Rs 25.67 crore vs Rs 27.2 crore, (Bloomberg estimate Rs 23.4 crore).

Finolex Industries (Consolidated, YoY)

• Revenue up 8.26% at Rs 1,235 crore vs Rs 1141 crore, (Bloomberg estimate Rs 1,192 crore).

• Ebitda down 3.9% at Rs 209 crore vs Rs 217 crore, (Bloomberg estimate Rs 180 crore).

• Margin down 214 bps at 16.91% vs 19.05%, (Bloomberg estimate 15.1%).

• Net profit down 0.96% at Rs 165 crore vs Rs 166 crore, (Bloomberg estimate Rs 144 crore).

Most markets in the Asia-Pacific countries fell in early trade Monday as investors assess inflation data from China and await Japan's PPI.

The Nikkei 225 was trading 59.53 points or 0.16% lower at 38,169.58, and the S&P ASX 200 was 9.90 points or 0.13% down at 7,739.10 as of 06:46 a.m.

The US stock market lost traction and bond yields rose after data pointed to an economy that is slowing amid stubborn inflationary pressures, posing a challenge to the outlook of Federal Reserve rate cuts, Bloomberg said.

The S&P 500 and Dow Jones Industrial settled 0.16% and 0.32% higher respectively on Friday. The Nasdaq Composite ended 0.03% lower.

Brent crude was trading 0.34% lower at $82.45 a barrel. Gold fell 0.04% to $2,359.61 an ounce.

The GIFT Nifty was trading 25.5 points or 0.12% higher at 22,082.50 as of 06:47 a.m.

India's benchmark equity indices logged their worst week in nearly two months as they declined around 2% this week. On Friday, the indices ended higher after five sessions, led by gains in Bharat Petroleum Corp. and Hero MotoCorp Ltd.

The Nifty ended 0.44%, or 97.10 points, higher at 22,054.60 and the Sensex rose 248.45 points, or 0.34%, to close at 72,652.62.

Overseas investors remained net sellers of Indian equities for the seventh consecutive session on Friday. Foreign portfolio investors offloaded stocks worth Rs 2,117.5 crore and domestic institutional investors stayed net buyers for fourteen straight sessions and mopped up equities worth Rs 2,709.8 crore, according to provisional data from the National Stock Exchange.