Stocks To Watch: RIL, Vodafone Idea, Tata Consumer, Patel Engineering, Indian Overseas Bank

Reliance Industries Ltd. will be in focus on Tuesday after it reported an 8.2% rise in net profit and a 5.6% jump in revenue. The stocks of Tejas Network Ltd. and Rallis Ltd. will also be in focus. In addition, Tata Consumer Products Ltd. will be in the spotlight as it announces its quarterly earnings.

Construction company Patel Engineering Ltd. launched its qualified institutional placement on Monday to raise up to Rs 400 crore. The indicative price has been set at Rs 56.53 apiece, representing a discount of 10.06% to the last closing price. The floor price is Rs 59.5.

Indian Overseas Bank has approved a fundraise of up to Rs 6,000 crore via debt and equity instruments. The bank will raise Rs 5,000 crore through follow-on public offer, rights issue, qualified institutional placement and preferential issue, according to an exchange filing on Monday.

Markets in Asia-Pacific region rose for second day in a row on Tuesday ahead of the release of business figures around the globe, and on anticipation of positive earnings from Big Tech.

The Nikkei 225 was trading 218.87 points or 0.58% higher at 37,657.48, and the S&P ASX 200 was trading 35.30 points or 0.46% up at 7,684.50 as of 06:43 a.m.

US stocks rebounded on Monday, with Corporate America kicking off the busiest week for first-quarter earnings that will be key in shaping the outlook for equities, reported Bloomberg.

The S&P 500 Index and Nasdaq Composite rose 0.87% and 1.11%, respectively, as of Tuesday. The Dow Jones Industrial Average rose by 0.67%.

Brent crude was trading 0.46% higher at $87.42 a barrel. Gold was higher by 0.30% at $2,334.32 an ounce.

The GIFT Nifty was trading 31.5 points or 0.14% lower at 22,426.00 as of 6:45 a.m.

India's benchmark stock indices ended higher for the second day on Monday, led by gains in shares of ICICI Bank Ltd., Larsen & Toubro Ltd., and Infosys Ltd.

The NSE Nifty 50 settled 189.40 points, or 0.86%, higher at 22,336.40, and the S&P BSE Sensex gained 560.29 points, or 0.77%, to end at 73,648.62.

Overseas investors turned net sellers after a day on Monday. Foreign portfolio investors offloaded stocks worth Rs 2,915.2 crore and domestic institutional investors turned net buyers after a day and mopped up equities worth Rs 3,542.9 crore, the NSE data showed.

The Indian rupee strengthened by 10 paise to close at Rs 83.37 against the US dollar.

Reliance Industries (Consolidated, QoQ)

• Revenue at Rs 2.37 lakh crore vs Rs 2.25 lakh crore (Bloomberg estimate Rs 2.36 lakh crore).

• Ebitda at Rs 42,536 crore vs Rs 40,656 crore (Bloomberg estimate Rs 42,423 crore).

• Margin at 18% vs 18.06% (Bloomberg estimate 18%).

• Net profit at Rs 21,243 crore vs Rs 17,265 crore (Bloomberg estimate Rs 19,727 crore).

Reliance Jio (Consolidated, QoQ)

• Revenue up 2.32% at Rs 25,959 crore vs Rs 25,368 crore.

• Ebitda up 2.52% at Rs 13,612 crore vs Rs 13,277 crore.

• Margin up 9 bps at 52.43% vs 52.33%.

• Net profit up 2.47% at Rs 5,337 crore vs Rs 5,208 crore.

Reliance Retail (Consolidated, YoY)

• Net profit up 11.7% to Rs 2,698 crore Vs Rs 2,415 crore.

• Revenue up 9.8% to Rs 67,610 crore Vs Rs 61,559 crore.

• Ebitda up 18.1% to Rs 5,623 crore Vs Rs 4,769 crore.

• Margins at 8.6% Vs 8%.

Tejas Network (Consolidated, YoY)

• Revenue up 343.29% at Rs 1,327 crore vs Rs 299 crore (Bloomberg estimate Rs 804 crore).

• Ebitda at Rs 306.5 crore vs loss of Rs 8.19 crore (Bloomberg estimate Rs 61 crore).

• Margin at 23.09% (Bloomberg estimate 7.5%).

• Net profit at Rs 146.78 crore vs loss of Rs 11.47 crore (Bloomberg estimate net loss of Rs 3 crore).

Rallis India (Consolidated, YoY)

• Revenue down 16.64% at Rs 436 crore vs Rs 523 crore.

• Ebitda at Rs 6 crore vs loss of Rs 64 crore.

• Margin at 1.37%.

• Net loss at Rs 21 crore vs loss of Rs 69 crore.

• Board approved the dividend of Rs 2.5 per share.

Mahindra Logistics (Consolidated, YoY)

• Revenue up 14% at Rs 1,450 crore vs Rs 1,272 crore (Bloomberg estimate Rs 1,419 crore).

• Ebitda down 11.15% at Rs 56.61 crore vs Rs 63.72 crore (Bloomberg estimate Rs 60 crore).

• Margin down 110 bps at 3.9% vs 5% (Bloomberg estimate 4.2%).

• Net loss at Rs 12.85 crore vs loss of Rs 0.82 crore (Bloomberg estimate loss of Rs 9 crore).

• Recommended the final dividend of Rs. 2.50 per share.

• Approved Ee-appointment of Rampraveen Swaminathan as MD and CEO for 5 years effective Feb. 4, 2025.

Hatsun Agro Product (Consolidated, YoY)

• Revenue up 14.38% at Rs 2,047 crore vs Rs 1,789 crore.

• Ebitda up 46.78% at Rs 230 crore vs Rs 156 crore.

• Margin up 247 bps at 11.21% vs 8.74%.

• Net profit up 108.76% at Rs 52.15 crore vs Rs 24.98 crore.

Tata Consumer Products Ltd., ICICI Prudential Life Insurance Company Ltd., Tata Elxsi Ltd., Mahindra & Mahindra Financial Services Ltd., MCX Ltd., Huhtamaki India Ltd., Cyient DLM Ltd. and 360 One WAM Ltd.

• Indian Overseas Bank: The company to raise up to Rs 1,000 crore via debt and Rs 5,000 crore via equity.

• Patel Engineering: The board approved the opening of the QIP issue at a floor price of Rs 59.5 per share which is a 10% discount to the current market price. The company may offer a discount of up to 5% on floor price.

• Wipro: The company's step-down unit Synchrony Global has been voluntarily dissolved effective today.

• Hero MotoCorp: CTO Arun Jaura resigned from his position effective April 30.

• IndusInd Bank: The company launched the pilot of programmable central bank digital currency in collaboration with Circularity Innovation Hub India.

• R R Kabel: The Board approved the termination of Dinesh Aggarwal as CEO effective today. The roles and responsibilities of the CEO will be taken over by Shreegopal Rameshwarlal Kabra, MD of the company.

• KP Energy: The company received 9 MW wind power project order from Bhathwari Technologies.

• Pantanjali Foods: The company incorporated two wholly owned subsidiaries Contemporary Agro and Rishikrishi Farming for Rs 20 lakh each.

• HPL Electric and Power: The company launched new product HPL Fans in SAARC Countries, Middle East and African Countries.

• Redtape: The company commenced online operational activity from its new warehouse situated in Bhiwandi.

IPO Offering

• JNK India: The company will offer its shares for bidding on Tuesday. The price band is set from Rs 395 to Rs 415 per share apiece. The Rs 649.47 crore IPO is combination of fresh issue of Rs 300 crore and rest offer for sale. The company has raised Rs 194 crore from anchor investors.

• Vodafone Idea: The Fund offer was subscribed to 6.36 times on day 3. The bids were led by institutional investors (17.56 times), non-institutional investors (4.13 times), retail investors (0.92 times).

• Indraprastha Medical Corp: Quant Mutual Fund - Quant Small Cap Fund bought 5.5 lakh shares (0.59%) at Rs 249.59 apiece.

• Rama Steel Tubes: Bansal Shashi sold 80 lakh shares (1.57%) at Rs 12.7 apiece.

• Moved into short-term ASM framework: Dhani Services, Likhitha Infrastructure, Premier Explosives, Solara Active Pharma Sciences, Yuken India

• Moved out of short-term ASM framework: Dynacons Systems and Solutions, IIFL Finance, Kaushalya Infrastructure Development Corp.

• Price Band change from 20% to 10%: Premier Explosives, Solara Active Pharma Sciences.

• Price Band change from 10% to 5%: Bajel Projects, Hind Rectifiers, Manorama Industries, Ramco Systems.

• Price Band change from 20% to 5%: Latent View Analytics, Paramount Communications.

• Ex/ record rights issue: IIFL Finance

• Ex/record special dividend:  Aster DM

• Ex/ record bonus issue: Anup Engineering

F&O Cues

• Nifty April futures up by 1.2% to 22,358.2 at a premium of 21.8 points.

• Nifty April futures open interest down by 6.8%.

• Nifty Bank April futures up by 0.94% to 47,989.1 at a premium of 64.2 points.

• Nifty Bank April futures open interest down by 15.7%.

• Nifty Options April 25 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 22,000.

• Bank Nifty Options April 24 Expiry: Maximum Call Open Interest at 49,000 and Maximum Put open interest at 45,000.

• Securities in ban period: Biocon, Hindustan Copper, Idea, Piramal Enterprises, SAIL, Zee Entertainment Enterprise.

The Indian rupee strengthened by 10 paise to close at 83.37 against the U.S. Dollar.

• Coal India - Volume Ramp-Up, Cost Savings To Drive Growth; Initiating With A Buy: Anand Rathi

• Gujarat State Petronet - Tariff Order; PNGRB Throws Up A Negative Surprise: ICICI Securities

• Indus Towers - Baking In Vodafone Idea Capex; Unfavorable Risk-Reward Still Towering: ICICI Securities

• Page Industries - All Eyes On Inventory Liquidation; The Moat Remains Unchanged: Motilal Oswal

• City Union Bank - Winds Of Change; Growth Bottoming Out: ICICI Securities