Stocks To Watch: LIC, Vodafone Idea, Zee, Oil India, Strides Pharma, Emami, Adani Ports, Nykaa, Wipro

Stocks to watch before going into trade today.

<div class="paragraphs"><p>Stock market trend&nbsp;financial graph on a computer screen.&nbsp; (Photo: Freepik)</p></div>
Stock market trend financial graph on a computer screen.  (Photo: Freepik)

U.S. stock futures opened higher at the start of Asian trading as risk sentiment turned positive following a sharp jump in sales forecasts from Nvidia Corp., the world’s most valuable chipmaker.

Nasdaq 100 futures rallied 1.6%, following a 0.5% drop in the underlying index on Wednesday amid concerns over the debt-ceiling impasse in the U.S. and the risk of another rate hike from the Federal Reserve. Contracts for the S&P 500 jumped 0.6%.

As per Bloomberg, before Nvidia's 27% surge in after-hours trading, major Asia equity indices had looked likely to decline on Thursday, with futures lower for Hong Kong, Japan and Australia.

The S&P 500 fell 0.7% on Wednesday, led by losses in financials and real estate, as negotiations over the U.S. debt ceiling continued without a deal. Minutes from the Fed’s meeting in early May showing policymakers were split on the path for U.S. interest rates further knocked sentiment.

Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.73%. Crude was trading above $78-mark, while Bitcoin traded below 27,000-level.

At 05:45 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, down 0.19% at 18,250.

Domestic benchmark indices ended their three-day rally to close lower as the HDFC twins and Adani Enterprises Ltd. dragged. Meanwhile, the Indian rupee closed higher against the U.S. dollar for the second day in a row on the back of substantial forex inflows.

Foreign investors were net buyers for the third straight day and bought equities worth Rs 1,185.84 crore. On the other hand, domestic institutional investors were buyers for the fourth straight day and bought stocks worth Rs 300.93 crore, the NSE data showed.

Stocks To Watch: LIC, Vodafone Idea, Zee, Oil India, Strides Pharma, Emami, Adani Ports, Nykaa, Wipro

Earnings Fineprint

Life Corporation of India Q4 FY23 (Standalone, YoY)

  • Revenue down 7% at Rs 2 lakh crore

  • Net premium down 8% at Rs 1.3 lakh crore

  • Solvency ratio rose to 187% from 185%

  • Net profit up 4.7 times at Rs 13,428 crore

  • The board recommended a dividend of Rs 3 per share.

National Aluminium Co. Q4 FY23 (Consolidated, YoY)

  • Revenue down 15.62% at Rs 3,670.86 crore (Bloomberg estimate: Rs 3,121.40 crore)

  • Ebitda down 52.88% at Rs 766.52 crore (Bloomberg estimate: Rs 440.90 crore)

  • Ebitda margin at 20.88% vs 37.39% (Bloomberg estimate: 14.1%)

  • Net profit down 51.73% at Rs 495 crore (Bloomberg estimate: Rs 182.2 crore)

  • Share of loss of joint ventures increased to Rs 26.88 crore from Rs 22 lakh in the year-ago period.

FSN E-Commerce Ventures Q4 FY23 (Consolidated figures, YoY)

  • Revenue up 34% at Rs 1,301.73 crore (Bloomberg estimate: Rs 1,350.99 crore)

  • Ebitda up 84% to Rs 70.70 crore (Bloomberg estimate: Rs 70.7 crore)

  • Ebitda margin at 5.4% Vs 4% (Bloomberg estimate: 5.2%)

  • Net profit fell 72% at Rs 2.41 crore (Bloomberg estimate: Rs 7.6 crore)

Oil India Q4 FY23 (Consolidated, YoY)

  • Revenues down 1.1% at Rs 7,855.23 crore

  • Ebitda down 8.43% at Rs 3,507.4 crore

  • Ebitda margin at 44.65% vs 48.23%

  • Net profit down 21.67% at Rs 1,979.74 crore

  • The company declared a final dividend of Rs 5.50 per share.

Aptech Q4 FY23 (Consolidated, YoY)

  • Revenue up 175.66% at Rs 178.46 crore

  • Ebitda up 260.89% at Rs 34.97 crore

  • Ebitda margin at 19.6% vs 14.97%

  • Net profit up 30.53% at Rs 33.35 crore

  • The board approved issue of bonus shares in the ratio of 2:5. The company has declared an interim dividend of Rs 6 per share for the fiscal 2023.

Gujarat Pipavav Port Q4 FY23 (Consolidated, YoY)

  • Revenue up 6.86% at Rs 234.73 crore

  • Ebitda up 1.30% at Rs 129.95 crore

  • Ebitda margin at 55.36% vs 58.4%

  • Net profit up 30.75% at Rs 97.32 crore

  • The company incurred net exceptional item of Rs 49.77 crore during the March quarter due to losses from cyclone Tauktae. The company declared a dividend of Rs 3.40 per share.

JB Chemicals & Pharmaceuticals Q4 FY23 (Consolidated, YoY)

  • Revenues up 22.05% at Rs 762.32 crore (Bloomberg estimate: Rs 762.30 crore)

  • EBITDA up 31% at Rs 163.64 crore (Bloomberg estimate: Rs 174.78 crore)

  • Ebitda margin at 21.47% vs 20% (Bloomberg estimate: 22.9%)

  • Net profit up 3.13% at Rs 87.63 crore (Bloomberg estimate: Rs 101.62 crore)

  • The board approved split of equity shares of face value Rs 2 each into shares of face value of Rs 1 each. It also declared a final dividend of Rs 9.25 per share for the fiscal 2023.

Bayer CropScience Q4 FY23 (Consolidated, YoY)

  • Revenue up 1.99% at Rs 982.5 crore

  • Ebitda up 2.54% at Rs 205.80 crore

  • Ebitda margin at 20.95% vs 20.83%

  • Net profit up 3.8% at Rs 158.5 crore

  • The company received exceptional gain of Rs 31 crore from sale of its environmental science business. The company has declared a final dividend of Rs 30 per share, amounting to an outgo of Rs 134.80 crore.

Prudent Corporate Advisory Services Q4 FY23 (Consolidated, YoY)

  • Revenue up 36.62% at Rs 176.97 crore (Bloomberg estimate: Rs 167.80 crore)

  • Ebitda up 73.18% at Rs 58.5 crore

  • Ebitda margin at 33.06% vs 26.08%

  • Net profit up 81.55% at Rs 41.23 crore (Bloomberg estimate: Rs 30.1 crore)

  • The board announced a final dividend of Rs 1.5 per share.

Trident Q4 FY23 (Consolidated, YoY)

  • Revenues down 15.86% at Rs 1,573.25 crore

  • Ebitda down 20.48% at Rs 268.52 crore

  • Ebitda margin at 17.07% vs 18.09%

  • Net profit down 27.91% at Rs 130.66 crore

  • The company declared first interim dividend of Rs 0.36 per share for the fiscal 2024, with June 1 as record date.

Venus Pipes & Tubes Q4 FY23 (YoY)

  • Revenue up 59.99% at Rs 176.28 crore

  • Ebitda up 57.17% at  Rs 21.58 crore

  • Ebitda margin at 12.24% vs 12.46%

  • Net profit up 66.42% at Rs 13.43 crore

  • The board recommended a final dividend of Rs 0.5 per share for the fiscal 2023.

Tamil Nadu Newsprint & Papers Q4 FY23 (YoY)

  • Revenue up 3.9% at Rs 1,427.29 crore

  • Ebitda up 146.07% at Rs 275.03 crore

  • Ebitda margin at 19.27% vs 8.14%

  • Net profit up 358.24% at Rs 102.83 crore

  • The board announced a dividend of Rs 5 per share for fiscal 2023.

Nava Q4 FY23 (Consolidated, YoY)

  • Revenues down 13.28% at Rs 881.44 crore

  • Ebitda down 13.79% at Rs 347.22 crore

  • Ebitda margin at 39.39% vs 39.62%

  • Net profit down 9.52% at Rs 246.66 crore

Lakshmi Machine Works Q4 FY23 (Consolidated, YoY)

  • Revenue up 30.5% at Rs 1,303.04 crore

  • Ebitda up 30.44% at Rs 118.26 crore

  • Ebitda margin at 9.08% vs 9.08%

  • Net profit up 13.74% at Rs 94.1 crore

  • The company will pay a dividend of Rs 98.50 per share.

Rupa & Co. Q4 FY23 (Consolidated, YoY)

  • Revenues down 8.52% at Rs 401.91 crore

  • Ebitda down 62.93% at Rs 27.15 crore

  • Ebitda margin at 6.76% vs 16.67%

  • Net profit down 61.71% at Rs 18.69 crore

  • The board recommended a dividend of Rs 3 per share.

ZF Commercial Vehicle Control Systems India Q4 FY23 (Consolidated, YoY)

  • Revenue up 24.98% at Rs 977.28 crore

  • Ebitda up 61.73% at Rs 143.99 crore

  • Ebitda margin at 14.73% vs 11.39%

  • Net profit up 78.82% at Rs 101.21 crore

  • The company will pay a dividend of Rs 13 per share for fiscal 2023.

Titagarh Wagons Q4 FY23 (Consolidated, YoY)

  • Revenue up 131% at Rs 974.21 crore vs Rs 422.18 crore

  • Ebitda up 108% at Rs 95.51 crore vs Rs 45.94 crore (Bloomberg estimate: Rs 76.4 crore)

  • Ebitda margin at 9.8% vs 10.9%

  • Net profit up 114% Rs 48 crore vs Rs 22.46 crore

  • The board recommended a final dividend of Rs 0.50 per equity share of Rs. 2/- each. Q4 profit was aided by no loss from the discontinued operations of its subsidiaries, Titagarh Firema, Tiagarh Wagons AFR France and TSPL.

Q4 Results Today

Vodafone Idea, Gujarat State Fertilizers & Chemicals, Zee Entertainment Enterprises, Infibeam Avenues, ITD Cementation India, AIA Engineering, Triveni Engineering & Industries, Medplus Health Services, Page Industries, Strides Pharma Science, Heritage Foods, Emami, GMM Pfaudler, Bharat Dynamics, Prince Pipes and Fittings, Eclerx Services, Kolte-Patil Developers. Subros, Gokaldas Exports, HealthCare Global Enterprises, Indostar Capital Finance, Voltamp Transformers, Dhanuka Agritech, Mrs Bectors Food Specialities, Harsha Engineers International, Carysil, Indian Energy Exchange, Ashapura Minechem, Axiscades Technologies, Balmer Lawrie & Co., Black Box, John Cockerill India, Disa India, Esab India, Expleo Solutions, Ganesha Ecosphere, General Insurance Corporation of India, Globus Spirits, HBL Power Systems, Hindustan Oil Exploration Co., IFCI, Igarashi Motors India, Ingersoll-Rand (India), Indian Railway Finance Corporation, Jai Corp, Manali Petrochemical, Mishra Dhatu Nigam, Pokarna, Radico Khaitan, Reliance Infrastructure, Rolex Rings, Saksoft, Sandhar Technologies, SEPC, Shilpa Medicare, Suven Pharmaceuticals, TTK Prestige, Uniparts India.

Stocks To Watch

Adani Ports and Special Economic Zone: The company will make long-term investment of $10 billion in Vietnam, including $3 billion in ports and wind and solar power projects.

Wipro: The company’s Engineering Edge business line partnered with automated mobility sensor software provider Spartan Radar to build advanced vehicle solutions. Wipro Ventures, the corporate investment arm of the company has invested in Spartan Radar’s B round funding.

Bulk Deals

  • Mahindra CIE Automotive: Mahindra & Mahindra sold 1.21 crore shares (3.19%) at Rs 447.65 apiece.

  • Safari Industries (India): Elevation Capital VI FII Holdings sold 2.98 lakh shares (1.25%) at Rs 2,550 apiece.

Mahindra CIE Automotive Shares Jump 9% As Promoter Sells Entire Stake

Insider Trading

  • Mukand: Promoter group Baroda Industries bought 55,000 shares between May 22-23.

  • Usha Martin: Promoter Peterhouse Investments sold one lakh shares on May 23.

  • Linc: Promoter Deepak Jalan bought 5,000 shares, promoter group Sarita Jalan bought 2,500 shares and promoter group sold Suraj Mal Jalan 7,500 shares on May 22.

  • PSP Projects: Promoter and director Prahaladbhai S Patel bought 50,000 shares on May 22.

Trading Tweaks

  • Ex-Date Interim Dividend: Trent, Kennametal India

  • Record Date Interim Dividend: Trent, Kennametal India

  • Ex-Date Final Dividend: Kansai Nerolac Paints

  • Move Into Short-Term ASM Framework: Adani Enterprises, Refex Industries,

  • Move Out of Short-Term ASM Framework: Zensar Technologies

Who’s Meeting Whom

  • Tata Steel: To meet analyst and investors on May 25.

  • UltraTech Cement: To meet analyst and investors on May 25.

  • Union Bank of India: To meet analyst and investors on May 26.

  • IIFL Finance: To meet analyst and investors on May 25.

F&O Cues

  • Nifty May futures ended at 18,300.30, a discount of 65.50 points.

  • Nifty May futures fell 25.56% and 43,596 shares in Open Interest.

  • Nifty Bank May futures ended at 43,713, a discount of 268.50 points.

  • Nifty Bank May futures fell 18.37% and 13,458 shares in Open Interest.

  • Securities added to the ban period:  Indiabulls Housing Finance, Delta Corp

  • Securities removed from the ban period: Nil

Stocks To Watch: LIC, Vodafone Idea, Zee, Oil India, Strides Pharma, Emami, Adani Ports, Nykaa, Wipro

Disclaimer: AMG Media Networks Ltd., a subsidiary of Adani Enterprises Ltd., holds a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.