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Sensex, Nifty End Volatile Session Flat As Slump In Titan, IndusInd Counters Gains In Airtel, Adani, SBI Life

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Sensex, Nifty End Volatile Session Flat As Slump In Titan, IndusInd Counters Gains In Airtel, Adani, SBI Life
A trader types on a keyboard while monitoring financial data figures at a trading floor. (Photographer: Alex Kraus/Bloomberg)
5 years ago
Reliance Industries, IndusInd Bank, Yes Bank, Ajanta Pharma, Indian Hotels may react as the companies reported quarterly results after the market closed Friday.Kotak Mahindra Bank, Tata Chemicals, L&T Technology, SBI Life are among the companies scheduled to report earnings Monday. Foreign investors bought net Rs 1,440 crore of stocks on April 29, according to the NSDL website.
May 03, 2021 15:38 (IST)
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The local stock market opened lower at the start of the week after Prime Minister Narendra Modi’s party lost elections in the key states of West Bengal, Tamil Nadu and Kerala.

The results add to growing signs of disappointment over Modi’s handling of the world’s worst Covid-19 outbreak, one that has overwhelmed India’s healthcare system as beds and oxygen supplies run out.

May 03, 2021 15:31 (IST)
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May 03, 2021 15:23 (IST)
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Bharat Heavy Electricals Ltd. rose 12%. Trading in the company's call options was eight times the average. Trading volume was triple the average for this time of day.

  • The stock was the best performer among its peers.
  • Trading volume was 120.2 million shares, triple the 20-day average of 46.9 million shares for this time of day.
  • Trading in the company's call options totalled 21,453 contracts, compared with the average of 2,695 over the past 20 days. Trading in the company's put options totalled 3,929 contracts, compared with the average of 973 over the same period.
  • Stock advanced 139% in the past 52 weeks, compared with a 251% increase for the company's Bloomberg peers.
  • Analysts have three buy, nine hold, and 19 sell recommendations on the stock.

May 03, 2021 14:57 (IST)
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SBI Life reported net income for the fourth quarter that missed the average analyst estimate.

  • Net income Rs 532 crore, +0.4% YoY, estimate Rs 624 crore (Bloomberg Consensus)
  • Net premium income Rs 15,560 crore, +31% y/y
  • Value of new business Rs 2330 crore

COMMENTARY AND CONTEXT

  • FY21 value of new business increased 16% to Rs 2,330 crore
  • FY21 VoNB margin increased by 170 bps to 20.4%

May 03, 2021 14:07 (IST)
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Steel Smashes Records as China Intensifies Emissions Crackdown

May 03, 2021 14:00 (IST)
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What Zomato’s IPO Filing Reveals About Its Business

May 03, 2021 13:32 (IST)
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ICICI Direct view

  • Domestic sugar prices have increased 7%-8% in last one month mainly due to high summer demand while cane crushing season ended without any major surprise on production, ICICI Direct’s Research Analyst Sanjay Manyal wrote in a note last week
  • Manyal expects domestic sugar prices to remain above level of 34 rupees per kilogram given aggressive exports and diversion of sugarcane toward ethanol production
  • Current prices are above cost of production for Indian millers
  • “We believe global raw sugar prices can easily cross 20 cents/lb in the next six months given Brazil is expected to witness 20% production decline in 2021-22 season”

May 03, 2021 13:25 (IST)
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Read the full report here

May 03, 2021 13:04 (IST)
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COMMENTARY AND CONTEXT

  • Provision Coverage Ratio at 96.9%
  • Made additional Covid-19 provision of Rs 500 crore
  • Bank is progressing on realising business synergies with LIC

May 03, 2021 12:12 (IST)
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Traders Tiptoeing Into May Dial Back Emerging-Market Bull Case

May 03, 2021 12:08 (IST)
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Two-wheeler maker, Bajaj Auto Ltd sold a total of 3,89,016 units in April, the company said in an exchange filing on Monday. Bajaj Auto's sales rose 5% over last month led by a surge in exports. Year-on-Year, the sales are not comparable.

Sales snapshot (Y-o-Y)

  • Total domestic sales fell 30% over last month to 1,26,579 units in April.
  • Total exports rose 48% to 2,21,603 units in April.
  • Total commercial vehicle sales rose 1.3% to 39,843 units in April.

May 03, 2021 11:50 (IST)
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Shares of Varun Beverages jumped as much as 6.3% after it reported net income for the first quarter that beat the average analyst estimate.

  • Net income Rs 129 crore vs. Rs 54.92 crore y/y, Bloomberg estimate Rs 119 crore
  • Revenue Rs 2,270 crore, +34% YoY, Bloomberg estimate Rs 2,121 crore
  • Q1 Ebitda Rs 382 crore vs Bloomberg estimate Rs 355 crore
  • Total costs Rs 2,080 crore, +26% y/y
  • Approves free share issue
  • Approves one free share for 2 held

May 03, 2021 11:41 (IST)
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Read more here

May 03, 2021 10:15 (IST)
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Shares of the lender fell as much as 8.2%, making it a third straight session of losses. Trading in the company's put options was triple the average while trading volume was five times the average for this time of day.

AU Small Finance reported net income for the fourth quarter that missed the average analyst estimate.

  • Net income Rs 169 crore, +39% y/y, estimate Rs 214 crore (Bloomberg consensus)
  • Gross non-performing assets 4.25% vs. 0.99% QoQ
  • Net interest income Rs 656 crore, +18% YoY
  • Provisions Rs 178 crore, -37% QoQ

Spark Capital Advisors analyst Abhinesh Vijayaraj cut the recommendation to sell from reduce.

  • Price target set to Rs 850, implies an 8.6% decrease from the last price. AU Small Finance average price target is Rs 1,094.65.

Nirmal Bang Institutional Equities analyst Sonal Gandhi cut the recommendation to accumulate from buy.

  • Price target set to Rs 990, implies a 6.8% increase from last price. AU Small Finance average Price target is Rs 1,070.28.

May 03, 2021 10:12 (IST)
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Coal India reported sales for April of 54.1 million tonnes, 38.4% higher YoY.

  • April shipments were, however, 9.4% lower than March
  • April production 41.9 million tonnes, +3.7% y/y, -48.4% MoM

May 03, 2021 10:11 (IST)
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Warren Buffett Wants to Make You Happier, Smarter and Richer

May 03, 2021 10:00 (IST)
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KPR Mill Ltd. rose 12%. Trading volume was six times the average for this time of day.

  • The stock was the best performer among its peers.
  • Trading volume was 119,603 shares, six times the 20-day average of 18,771 shares for this time of day.
  • The relative strength index on the stock was above 70, indicating it may be overbought.
  • KPR Mill trades at 19 times its estimated earnings per share for the coming year. It trades at 21 times trailing EPS.
  • Analysts have four buy, no hold, and no sell recommendations on the stock.
  • The price target of 1,413.33 rupees represents an 8.8% decrease from the last price

May 03, 2021 09:59 (IST)
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Godrej Properties reported a net loss for the fourth quarter of Rs 192 crore vs. a profit Rs 102 crore YoY.

  • Net loss Rs 192 crore vs. profit Rs 102 crore YoY
  • Revenue Rs 433 crore, -63% YoY, estimate Rs 427 crore (Bloomberg Consensus)
  • Ebitda loss Rs 79 crore vs. profit Rs 253 crore YoY
  • Total costs Rs 633 crore, -41% y/y
  • Other income Rs 143 crore, +14% y/y

Commentary

  • FY21 total booking value Rs 6,730 crore and booking volume 10.81 million sq ft, up 14% and 23% respectively
  • “Given our robust launch pipeline, strong balance sheet, and interesting new project acquisition opportunities, we expect a strong FY22,” Executive Chairman Pirojsha Godrej says
  • Excluding one-off charges, Q4 Ebitda would be Rs 118 crore and net income Rs 37 crore

May 03, 2021 09:42 (IST)
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For more brokerage views, click here

May 03, 2021 09:36 (IST)
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UBS Expects Record IPO Year for India Despite Covid-19 Crisis

May 03, 2021 09:16 (IST)
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May 03, 2021 08:46 (IST)
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All You Need To Know Going Into Trade On May 3

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