Tata Consultancy Services Ltd. will be in focus on Monday trade after record dealmaking propelled the IT major in what was a year of slowdown for the wider Indian information technology services industry. Net profit rose 12.7% sequentially, while the top line saw a rise of 1.1%.
Power Grid Corp. will consider a mega fundraising plan in a board meeting on April 17, while Ami Organics Ltd.'s board approved a capital raise through QIP.
India's benchmark stock indices erased earlier losses to close little changed on Friday, led by gains in rate-sensitive realty and banking stocks after the Reserve Bank of India kept the rate unchanged at policy. This helped the indices clock their third weekly gain.
The NSE Nifty 50 settled 10.85 points, or 0.048%, higher at 22,525.50, and the S&P BSE Sensex gained 20.59 points, or 0.028%, to end at 74,248.22.
Overseas investors turned net sellers of Indian equities on Friday. Foreign portfolio investors offloaded stocks worth Rs 8,027 crore and domestic institutional investors remained net buyers and mopped up equities worth Rs 6,341.5 crore, according to provisional data from the National Stock Exchange.
The Indian currency weakened by 23 paise to close at Rs 83.42 against the US dollar.
Markets in Asia-Pacific region fell in early trade Monday on risk off sentiment as geopolitical tension heightened after Iran's attack on Israel over the weekend.
The Nikkei 225 was trading 654.04 points or 1.65% lower at 38,869.51, and the KOSPI was trading 28.47 points or 1.06% down at 2,653.35 as of 06:28 a.m.
Amid risks such a geopolitical conflicts, investors pull out their money from risk assets, and shift it to safe haven assets like dollar, US Treasuries, and Gold.
The global financial world was roiled by a flare-up in geopolitical risks that sent U.S. stocks sliding—while spurring a flight to the safest corners of the market from bonds to gold and the dollar. Oil rallied, Bloomberg said.
The S&P 500 index and Nasdaq Composite fell by 1.46% and 1.62%, respectively, as on Friday. The Dow Jones Industrial Average declined by 1.24%.
Brent crude was trading 0.05% higher at $90.50 a barrel. Gold gained 0.37% to trade at $2,353.13 an ounce.
The GIFT Nifty was trading 0.5 points up at 22,450.00 as of 06:31 a.m.
Earnings Post market Hours
TCS Consolidated (QoQ)
Revenue up 1.1% at Rs 61,237 crore vs Rs 60,583 crore (Bloomberg estimate Rs 61,451.3 crore).
EBIT up 5.03% at Rs 15,918 crore vs Rs 15,155 crore (Bloomberg estimate Rs 15,548.3 crore).
Margin up 97 bps at 25.99% vs 25.01% (Bloomberg estimate 25.3%).
Net profit up 12.66% at Rs 12,502 crore vs Rs 11,097 crore. (Bloomberg estimate Rs 12,034.2 crore).
Declared dividend of Rs 28 per share.
Anand Rathi Wealth
Revenue up 28.91% at Rs 184.28 crore vs Rs 142.95 crore.
AUM up 52% at Rs 59,351 crore vs 38,993 crores.
Ebitda up 20.27%at Rs 73.14 crore vs Rs 60.81 crore.
Margin down 284 bps at 39.68% vs 42.53%
Net profit up 33.16% at Rs 56.86 crore vs Rs 42.7 crore.
Declare the dividend of Rs 9 per share.
Proposed the buyback of shares at Rs 4,450 for a total consideration not exceeding 164.65 crore.
Stocks To Watch
Power Grid Corp.: The company will consider raising up to Rs 12,000 crore via NCDs on a private placement basis in a board meeting on April 17.
Patanjali Foods: The company said segmental volume in Q4 experienced mid-single-digit growth (YoY) and revenue from the edible oil segment in Q4 showed modest single-digit growth compared to the previous quarter.
Reliance Power: The company has transferred its 45 MW wind power project located in Maharashtra to JSW Renewable Energy for a consideration of Rs 132.39 crore.
Ami Organics: The company approved the raising of funds up to Rs 500 crore through QIP.
Engineers India: The company signed an MoU with Detect Technologies for AI-based monitoring of construction sites.
ISMT: The company received two orders worth Rs 343.7 crore from ONDC for the supply of casing pipes.
Zuari Industries: NCLT gave the nod to merge Zuari Sugar and Power with the company.
Bharti Hexacom: Sanjeev Kumar and Surajit Mandol resigned from the board effective today.
Granules: U.S. FDA inspected at Andhra Pradesh facility between April 8-12 and ended with zero observations.
Rail Vikas Nigam: The company received a letter of acceptance for works in connection with new line project of Araria - Galgalia of N.F. Railway. The project cost is Rs 95 crore.
Zaggle Prepaid: The company signed an agreement with Eversub India to provide employee expense & benefits management platform Zaggle Save.
Bulk Deal
Subex: Ashapura Commodities sold 36.81 lakh shares (0.65%) at Rs 30.64 apiece.
Pledge Share Details
Apollo Micro Systems: Promoter Karunakar Reddy Baddam revoked a pledged 1.1 crore shares on April 11.
Who’s Meeting Whom
IKIO Lighting: To meet analysts and investors on April 18.
GPT Healthcare: To meet analysts and investors on April 18.
Medi Assist Healthcare Services: To meet analysts and investors on April 15.
Tega Industries: To meet analysts and investors on April 18.
Trading Tweaks
Price Band changes from 5% to 20%: Adani Power.
Price Band changes from 20% to 10%: Reliance Infrastructure.
Moved out short-term ASM framework: Technocraft Industries (India), Best Agrolife.
F&O Cues
Nifty April futures down by 0.92% to 22,601.45 at a premium of 82.05 points.
Nifty April futures open interest down by 4.8%.
Nifty Bank April futures down by 0.64% to 48,714.10 at a premium of 149.55 points.
Nifty Bank April futures open interest down by 8.8%.
Nifty Options April 18 Expiry: Maximum Call open interest at 22,700 and Maximum Put open interest at 22,200.
Bank Nifty Options April 16 Expiry: Maximum Call Open Interest at 49,000 and Maximum Put open interest at 48,000.
Securities in ban period: Balrampur Chini Mills, GNFC, Hindustan Copper, IDEA, India Cements, Metropolis, National Aluminium, Piramal Enterprises, Zee Entertainment Enterprise.
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