Stock markets all around the world will remain shut on Saturday, while the Indian market will remain open as the national bourses conduct a special trading session for an easy switch over to a disaster recovery site.
US stocks wavered near record highs after a rally that put the market on track for its longest streak of weekly gains since February, Bloomberg said.
The S&P 500 Index fell 0.05% and the Nasdaq 100 rose by 0.03% as of 11:44 a.m. New York time. The Dow Jones Industrial Average rose by 0.08%.
Brent crude was trading 0.41% higher at $83.61 a barrel. Gold rose 1.27% to $2,407.07 an ounce.
Indian benchmark equity indices gained the most this week since the week-ended Feb. 2. Today, they ended higher for the second consecutive session, led by gains in Mahindra & Mahindra Ltd., Reliance Industries Ltd., and HDFC Bank Ltd.
The Nifty ended higher by 60.95 points, or 0.27%, at 22,464.80, while the Sensex gained 253.31 points, or 0.34%, to close at 73,917.03.
Overseas investors turned net buyers on Friday after eleven days of selling. Foreign portfolio investors bought stocks worth Rs 1,616.79 crore and domestic institutional investors stayed net buyers for the nineteenth day and mopped up equities worth Rs 1,556.25 crore, according to provisional data from the National Stock Exchange.
The Indian currency strengthened by 17 paise to close at 83.33 against the U.S. dollar.
Special Trading Session: Here's All You Need To Know
For the second time this year, the Indian stock exchanges will conduct a special live trading session on Saturday in a bid to switch over to a disaster recovery site.
On the National Stock Exchange and the BSE, the first special session went live on March 2 without any discrepancies and ended the session on a record closing level.
The special session will test the preparedness of the exchanges in case of any unexpected event during a normal trading session.
In case of any emergency, like a security breach, market operations can be temporarily relocated to a disaster recovery site to ensure continuity of normal operations.
Equity Segment
Trading Session 1 From Primary Site
Block deal window open time: 8:45 a.m.
Block deal window close time: 9:00 a.m.
Pre-open open time: 9:00 a.m.
Pre-open close time: 9:08 a.m.
Normal market open time: 9:15 a.m.
Normal market close time: 10:00 a.m.
Trading session 2 From Disaster Recovery Site
Pre-open open time: 11:15 a.m.
Pre-open close time: 11:23 a.m.
Normal market open time: 11:30 a.m.
Normal market close time: 12:30 p.m.
Closing session open time: 12:40 p.m.
Closing session close time: 12:50 p.m.
Trade modification end time: 1 p.m.
Futures And Options Segment
Trading Session 1 From Primary Site
Normal market open time: 9:15 a.m.
Normal market close time: 10:00 a.m.
Trading Session 2 From Disaster Recovery Site
Normal market open time: 11:30 a.m.
Normal market close time: 12:30 p.m.
Trade modification end time: 12:40 p.m.
Changes In Price Bands For Special Session
All securities will have a maximum price band of 5%.
Securities already in the 2% or lower price band shall continue to be available in the respective bands.
Price bands of 5% will be applicable to all close-ended mutual funds.
All futures contracts shall have a daily operating range of 5%.
No flexing of securities or futures contracts shall be applicable on that day.
The price band for equity segments and futures contracts, which will be applicable at the start of the day, shall be applicable at DR.
Any changes in price bands of option contracts due to market factors up to the close time at the primary site would be carried forward to the disaster recovery site.
Earnings Post Market Hours
JSW Steel Q4 FY24 (Consolidated, YoY)
Revenue down 1.5% at Rs 46,269 crore vs Rs 46,962 crore (Bloomberg estimate Rs 44,676 crore).
Ebitda down 22.9% at Rs 6,124 crore vs Rs 7,939 crore (Bloomberg estimate Rs 6,155 crore).
Margin at 13.2% vs 16.9% (Bloomberg estimate 13.8%).
Net profit down 64.7% at Rs 1,322 crore vs Rs 3,741 crore (Bloomberg estimate Rs 1,661 crore).
Zydus Lifesciences Q4 FY24 (Consolidated, YoY)
Revenue up 10.4% at Rs 5,534 crore vs Rs 5,011 crore (Bloomberg estimate Rs 5380 crore).
Ebitda up 23.7% at Rs 1,625 crore vs Rs 1,314 crore (Bloomberg estimate Rs 1550 crore).
Margin at 29.4% vs 26.2% (Bloomberg estimate 28.8%).
Net profit up 299% at Rs 1,182 crore vs Rs 297 crore (Bloomberg estimate Rs 1,034 crore).
Phoenix Mills Q4 FY24 (Consolidated, YoY)
Revenue up 79.1% at Rs 1,306 crore vs Rs 729 crore (Bloomberg estimate Rs 900 crore).
Ebitda up 45.5% at Rs 627 crore vs Rs 431 crore (Bloomberg estimate 520 crore).
Margin at 48% vs 59% (Bloomberg estimate Rs 57.7%).
Net profit up 34% at Rs 392 crore vs Rs 292 crore (Bloomberg estimate Rs 246 crore).
Board recommends final dividend of Rs 5 per share.
Rail Vikas Nigam Q4 FY24 (Consolidated, YoY)
Revenue up 17.4% at Rs 6,714 crore vs Rs 5,720 crore (Bloomberg estimate Rs 6,323 crore).
Ebitda up 22% at Rs 456 crore vs Rs 374 crore (Bloomberg estimate Rs 401 crore).
Margin at 6.8% vs 6.5% (Bloomberg estimate 6.4%).
Net profit up 22% at Rs 478 crore vs Rs 359 crore (Bloomberg estimate Rs 400 crore).
Bandhan Bank Q4 FY24 (Standalone, YoY)
Net profit at Rs 55 crore vs Rs 808 crore (Bloomberg estimate Rs 890 crore).
Provisions at Rs 1,774 crore vs Rs 735 crore.
NII up 16% at Rs 2,866 crore vs Rs 2,472 crore.
Gross NPA at 3.84% vs 7.02% QoQ.
Net NPA at 1.11% vs 1.17% QoQ.
Zee Entertainment Enterprises Q4 FY24 (Consolidated, QoQ)
Revenue up 6.1% at Rs 2170 crore vs Rs 2046 crore (Bloomberg estimate Rs 2010 crore).
Ebitda up 0.47% at Rs 210 crore vs Rs 209 crore (Bloomberg estimate Rs 130 crore).
Margin at 9.7% vs 10.2% (Bloomberg estimate 6.5%).
Net profit down 77% at Rs 12 crore vs Rs 53 crore (Bloomberg estimate Rs 68 crore).
Exceptional items at Rs 37.6 crore vs Rs 60.3 crore.
Pfizer Q4 FY24 (Consolidated, YoY)
Revenue down 4.6% at Rs 547 crore vs Rs 573 crore (Bloomberg estimate Rs 550 crore).
Ebitda up 4.2% at Rs 189 crore vs Rs 182 crore (Bloomberg estimate Rs 170 crore).
Margin at 34.7% vs 31.8% (Bloomberg estimate Rs 31%).
Net profit up 38% at Rs 179 crore vs Rs 130 crore (Bloomberg estimate Rs 135 crore).
Balkrishna Industries Q4 FY24 (Consolidated, YoY)
Revenue up 15.8% at Rs 2,682 crore vs Rs 2,317 crore (Bloomberg estimate Rs 2404 crore).
Ebitda up 42% at Rs 681 crore vs Rs 480 crore (Bloomberg estimate Rs 596 crore).
Margin at 25.4% vs 20.7% (Bloomberg estimate 24.8%).
Net profit up 87.3% at Rs 487 crore vs Rs 260 crore (Bloomberg estimate Rs 360 crore).
Board recommended final dividend of Rs 4 per share.
Sobha Q4 FY24 (Consolidated, YoY)
Revenue down 37% at Rs 763 crore vs Rs 1,210 crore (Bloomberg estimate Rs 1180 crore).
Ebitda down 46% at Rs 63 crore vs Rs 116 crore (Bloomberg estimate Rs 144 crore).
Ebitda margin at 8.2% vs 9.6% (Bloomberg estimate 12.2%).
Net profit down 86% at Rs 7 crore vs Rs 49 crore (Bloomberg estimate Rs 52.1 crore).
NHPC Q4 FY24 (Consolidated, YoY)
Revenue down 6.9% at Rs 1,888 crore vs Rs 2,029 crore (Bloomberg estimate Rs 1833 crore).
Ebitda down 1.4% at Rs 885 crore vs Rs 898 crore (Bloomberg estimate Rs 922 crore).
Margin at 47% vs 44.3% (Bloomberg estimate 50.3%).
Net profit down 18% at Rs 611 crore vs Rs 745 crore (Bloomberg estimate Rs 648 crore).
Vinati Organics Q4 FY24 (Consolidated, YoY)
Revenue up 6% at Rs 550 crore vs Rs 519 crore (Bloomberg estimate Rs 488 crore).
Ebitda up 1.8% at Rs 150 crore vs Rs 147 crore (Bloomberg estimate Rs 132 crore).
Margin at 27.2% vs 28.4% (Bloomberg estimate 27%).
Net profit down 0.6% at Rs 104 crore vs Rs 105 crore (Bloomberg estimate Rs 88 crore).
Global Health Q4 FY24 (Consolidated, YoY)
Revenue up 14.4% at Rs 809 crore vs Rs 707 crore (Bloomberg estimate Rs 878 crore).
Ebitda up 7.7% at Rs 179 crore vs Rs 166 crore (Bloomberg estimate Rs 229 crore).
Margin at 22.2% vs 23.5% (Bloomberg estimate 26.1%).
Net profit up 5.2% at Rs 127 crore vs Rs 102 crore (Bloomberg estimate 138 crore).
Godrej Industries Q4 FY24 (Consolidated, YoY)
Revenue down 6% at Rs 4,567 crore vs Rs 4,852 crore.
Ebitda down 23.5% at Rs 458 crore vs Rs 599 crore.
Margin at 10% vs 12.3%.
Net loss of Rs 25 crore vs net profit of Rs 562 crore.
Balrampur Chini Mills Q4 FY24 (Consolidated, YoY)
Revenue down 4% at Rs 1,434 crore vs Rs 1,492 crore (Bloomberg estimate Rs 1091 crore).
Ebitda at Rs 345 crore vs Rs 404 crore, down 14.7% (Bloomberg estimate Rs 362 crore).
Margin at 24% vs 27.1% (Bloomberg estimate 33.2%).
Net profit down 20.1% at Rs 203 crore vs Rs 254 crore (Bloomberg estimate Rs 220 crore).
Kirloskar Ferrous Industries Q4 FY24 (Consolidated, YoY)
Revenue down 2% at Rs 1,536 crore vs Rs 1,566 crore.
Ebitda down 25.3% at Rs 165 crore vs Rs 221 crore.
Margin at 10.7% vs 14.1%.
Net profit down 81.3% at Rs 18 crore vs Rs 95 crore.
Sudarshan Chemical Industries Q4 FY24 (Consolidated, YoY)
Revenue up 10.6% at Rs 764 crore vs RS 691 crore.
Ebitda up 40.6% at Rs 119 crore vs Rs 85 crore.
Margin at 15.6% vs 12.3%.
Net profit up 78.2% at Rs 58 crore vs Rs 33 crore.
Delhivery Q4 FY24 (Consolidated, YoY)
Revenue up 11.6% at Rs 2,076 crore vs Rs 1,860 crore (Bloomberg estimate Rs 2,134 crore).
Ebitda at Rs 46 crore vs Rs 13 crore (Bloomberg estimate Rs 62 crore).
Margin at 2.2% vs 0.7% (Bloomberg estimate 2.9%).
Net loss of Rs 68 crore vs loss of Rs 159 crore (Bloomberg estimate net loss of Rs 24 crore).
Astral Q4 FY24 (Consolidated, YoY)
Revenue up 8% at Rs 1,625 crore vs Rs 1,506 crore (Bloomberg estimate Rs 1,663 crore).
Ebitda down 5.6% at Rs 292 crore vs Rs 309 crore (Bloomberg estimate Rs 200 crore).
Margin at 17.9% vs 20.5% (Bloomberg estimate Rs 18.1%).
Net profit down 12.1% at Rs 181 crore vs Rs 206 crore (Bloomberg estimate Rs 189 crore).
Shipping Corporation of India Q4 FY24 (Consolidated, YoY)
Revenue down 0.4% at Rs 1,413 crore vs Rs 1,418 crore.
Ebitda down 12.4% at Rs 407 crore vs Rs 465 crore.
Margin at 28.8% vs 32.8%.
Net profit down 19.1% at Rs 307 crore vs Rs 380 crore.
Stocks To Watch
Wipro: The company has appointed Sanjeev Jain as its chief operating officer in place of Amit Chaudary.
Dr. Reddy's Laboratories: USFDA completed inspection at Visakhapatnam facilities between May 8 and May 17 and issued Form 483 with 2 observations.
Nestle India: The majority of shareholders rejected the company’s proposal to raise the royalty fee.
Dalmia Bharat: The company’s arm commenced production at the Tamil Nadu cement plant of 1 MTPA. The company’s total cement manufacturing capacity is now at 45.6 MTPA.
Centrum Capital: The board approved the appointment of Shailendra Apte as CFO effective June 1 in place of Sriram Venkatasubramanian.
Delhivery: The board approved the liquidation of the UK-based arm Delhivery Corp. and also approved the incorporation of the wholly owned subsidiary Delhivery Robotics India.
Block Deals
PB Fintech: Yashish Dahiya sold 54 lakh shares (1.19%), Alok Bansal sold 29.7 lakh shares (0.65%), while Societe Generale-Odi bought 15.95 lakh shares (0.35%), Morgan Stanley Asia (Singapore) PTE-ODI bought 14.65 lakh shares (0.32%) and among others at Rs 1325.15 apiece.
Bulk deal
Thirumalai Chemicals: Nilesh Kishor Shah bought 5.23 lakh shares (0.51%) at Rs 263.92 apiece.
Trading Tweaks
Moved out of short-term ASM framework: Allsec technologies, Cartrade tech, Suraj Estates Developers.
Moved into short-term ASM framework: Honeywell Automation India, Semac Consultants.
F&O Cues
Nifty May futures up by 0.23% to 22,497.7 at a premium of 31.6 points.
Nifty May futures open interest down by 2.3%.
Nifty Bank May futures up by 0.29% to 48,195.1 at a premium of 79.45 points.
Nifty Bank May futures open interest up by 0.45%.
Nifty Options May 23 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 21,500.
Bank Nifty Options May 22 Expiry: Maximum Call Open Interest at 50,000 and Maximum Put open interest at 48,000.
Securities in ban period: AB Capital, Balrampur Chini Mills, Bandhan Bank, Biocon, Birlasoft, GMR Infra, Granules, Hindustan Copper, Vodafone Idea, India Cements, Piramal Enterprise, Sail, Zee Entertainment Enterprise.
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