Stocks To Watch: L&T, Dr Reddy's, Bosch, Apollo Tyres, Lupin, Nazara Tech, Eveready, Godrej Consumer
Stocks to watch before going into market today.
Asian equities look poised for a cautious open on Wednesday ahead of a critical inflation report from the U.S.
Futures for benchmarks in Japan and Australia suggested small declines for those markets while contracts for Hong Kong indicated a slight gain. Futures for the S&P 500 and Nasdaq 100 were fractionally higher in Asia after the indexes fell 0.5% and 0.7%, respectively, on Tuesday.
U.S. gauges have been stuck in narrow trading ranges as investors weigh the potential end of the Federal Reserve’s interest rate hikes against the possibility of an economic slowdown
Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.51%. Crude prices traded around $77-mark, while Bitcoin declined below 28,000-level.
At 6:00 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 0.02% at 18,307.5.
Domestic benchmarks—BSE Sensex and NSE Nifty 50—closed mostly unchanged, with decline in PSU banks and realty stocks countering the advance in IT, auto and pharma stocks.
The Indian rupee closed lower against the U.S. dollar amid a stronger greenback and tepid domestic equities.
Foreign investors were net buyers for the ninth day in a row and bought equities worth Rs 1,942.19 crore. On the other hand, domestic institutional investors turned buyers after a day and bought stocks worth Rs 404.70 crore, the NSE data showed.
Earnings
Apollo Tyres Q4 FY23 (Consolidated, YoY)
Revenue up 11.99% at Rs 6,247.33 crore (Bloomberg estimate: Rs 6,227.97 crore)
Ebitda up 59.4% at Rs 998.45 crore (Bloomberg estimate: Rs 919.30 crore)
Ebitda margin at 15.98% vs 11.23% (Bloomberg estimate: 14.8%)
Net profit up 276.73% at Rs 427.4 crore (Bloomberg estimate: Rs 315.96 crore)
The board recommended a final dividend of Rs 4 per share and special dividend of Rs 0.50 per share, aggregating to Rs 4.50 per share and a total outgo of Rs 285.80 crore. It also approved fixation of tenure of Onkar Kanwar as chairman for five years, effective from Feb. 1, 2023 to Jan. 31, 2028. It also approved the reappointment of Neeraj Kanwar as managing director and Satish Sharma as whole-time director for five years from April 1, 2024 to March 31, 2029.
Lupin Q4 FY23 (Consolidated, YoY)
Revenue up 14.09% at Rs 4,430.08 crore (Bloomberg estimate: Rs 4432.85 crore)
Ebitda up 165.38% at Rs 604.05 crore (Bloomberg estimate: Rs 491.15 crore)
Ebitda margin at 13.64 % vs 5.86% (Bloomberg estimate: 11.1%)
Net profit of Rs 235.96 crore vs net loss of Rs 517.98 crore (Bloomberg estimate: Rs 307.15 crore)
The company announced a dividend of Rs 4 per share.
Nuvoco Vistas Corporation Q4 FY23 (Consolidated, YoY)
Revenue down 0.06% at Rs 2,928.5 crore (Bloomberg estimate: Rs 3,091.54 crore)
Ebitda down 11.48% at Rs 380.44 crore (Bloomberg estimate: Rs 407.26 crore)
Ebitda margin at 13% vs 14.67% (Bloomberg estimate: 13.2%)
Net profit up 590.69% at Rs 201.06 crore (Bloomberg estimate: Rs 44.54 crore)
Birla Corporation Q4 FY23 (Consolidated, YoY)
Revenues up 8.76% at Rs 2,462.57 crore (Bloomberg estimate: Rs 2,397.17 crore)
Ebitda down 0.86% at Rs 274.33 crore (Bloomberg estimate: Rs 269.51 crore)
Ebitda margin at 11.14% vs 12.22% (Bloomberg estimate: 11.2%)
Net profit down 23.52% at Rs 84.95 crore (Bloomberg estimate: Rs 54.08 crore)
The board recommended a dividend of Rs 2.50 per share for the fiscal ended March 2023. It also approved raising Rs 200 crore via non-convertible debentures on private placement basis.
Godrej Agrovet Q4 FY23 (Consolidated, YoY)
Revenue up 0.68% at Rs 2,094.99 crore (Bloomberg estimate: Rs 2,202.36 crore)
Ebitda down 55.91% at Rs 74.62 crore (Bloomberg estimate: Rs 126.60 crore)
Ebitda margin at 3.56% vs 8.13% (Bloomberg estimate: 5.7%)
Net profit down 74.63% at Rs 31.02 crore (Bloomberg estimate: Rs 56 crore)
The company declared a final dividend of Rs 9.50 crore for the fiscal 2023.
Castrol India Q4 FY23 (Consolidated, YoY)
Revenue up 4.71% at Rs 1,293.89 crore (Bloomberg estimate: Rs 1,384.10 crore)
Ebitda down 6.99% at Rs 295.03 crore (Bloomberg estimate: Rs 328.95 crore)
Ebitda margin at 22.8% vs 25.67% (Bloomberg estimate: 23.80%)
Net profit down 11.34% at Rs 202.5 crore (Bloomberg estimate: Rs 247.90 crore)
Poly Medicure Q4 FY23 (Consolidated, YoY)
Revenue up 19% at Rs 307 crore (Bloomberg estimate: Rs 305 crore)
Ebitda up 36% to Rs 86 crore (Bloomberg estimate: Rs 75 crore)
Ebitda margin at 27.9% vs 24.5% (Bloomberg estimate: 24.6%)
Net profit up 63% at Rs 59 crore (Bloomberg estimate: Rs 50 crore)
The company announced a dividend of Rs 3 per share for the fiscal 2023.
Nazara Technologies Q4 FY23 (Consolidated, QoQ)
Revenue down 8.1% at Rs 289.30 crore (Bloomberg estimate: Rs 296.15 crore)
Ebit down 25.83% at Rs 11.20 crore
Ebit margin at 3.87% vs 4.8%
Net profit up 92% at Rs 9.4 crore (Bloomberg estimate: Rs 16.23 crore)
Eveready Industries Q4 FY23 (Consolidated, YoY)
Revenue up 18.63% at Rs 286.17 crore
Ebitda profit of Rs 1.03 crore vs Ebitda loss of Rs 35.64 crore
Ebitda margin at 0.36%
Net loss narrows 62.53% to Rs 14.39 crore
Results
Larsen & Toubro, Dr Reddy's Laboratories, Gujarat Gas, Godrej Consumer Products, Prism Johnson, Procter & Gamble Hygiene & Health Care, Relaxo Footwears, Sanofi India, Sagar Cements, Cera Sanitaryware, BASF India, Bosch, Escorts Kubota, Gokul Agro Resources, HG Infra Engineering, JBM Auto, Kabra Extrusiontechnik, MAS Financial Services, Novartis India, Orchid Pharma, Pricol, Ratnamani Metals & Tubes, Venky's (India)
Stocks To Watch
IRB Infrastructure Developers: The company reported 18.76% year-on-year increase in toll collection during April 2023 at Rs 388.42 crore. Toll collection by wholly owned subsidiaries increased 16.5% year-on-year to Rs 194.52 crore, while that by joint ventures entities under IRB Infrastructure Trust grew 4.3% to Rs 193.90 crore.
Raymond: The company will raise Rs 2,200 crore by issuing non-convertible debentures to Raymond Consumer Care for repayment of external debt.
Greaves Cotton: The company completed first stage of acquisition of 60% shareholding in Excel Controlinkage.
Nazara Technologies: The company will invest Rs 15 crore in subsidiary Next Wave Multimedia by acquiring 19.5% stake from promoters.
Hindustan Petroleum Corporation/Life Insurance Corporation of India: The insurance major increased its shareholding in the state-run refiner to 5.013% from 4.901%.
Bulk Deals
IndoStar Capital Finance: Rosy Blue India bought 6.43 lakh shares (0.52%) at Rs 130.59 per share.
Krsnaa Diagnostics: ACM Global Fund VCC bought 6.91 lakh shares (2.2%), Somerset Indus Healthcare Fund I sold 8.91 lakh shares (2.84%) at Rs 495.27 apiece.
Who’s Meeting Whom
Persistent Systems: To meet investors and analysts on May 10.
Can Fin Homes: To meet investors and analysts on May 15, 16 and 24.
Gabriel India: To meet investors and analysts on May 10.
Trading Tweaks
Ex-Date Interim Dividend: Coforge, Laurus Labs
Ex-Date Income Distribution: Mindspace Business Parks REIT
Ex-Date Buy Back of Shares: Welspun India
Record Date Interim Dividend: Coforge, Laurus Labs
Record Date Income Distribution: Mindspace Business Parks REIT
Record Date Buy Back of Shares: Welspun India
Price Band Revised From 20% To 10%:
Move Into Short-Term ASM Framework: Patel Engineering
Move Into Short-Term ASM Framework: AGI Greenpac, Kirloskar Electric Company
Insider Trading
Rajnish Wellness: Promoter Rajnish Kumar Singh bought 2 lakh shares on May 8.
F&O Cues
Nifty May futures ended at 18,305, a discount of 5.4 points.
Nifty May futures rose 3.99% and 8,635 shares in Open Interest.
Nifty Bank May futures ended at 43,201, a discount of 114.95 points.
Nifty Bank May futures fell 5.66% and 5,375 shares in Open Interest.
Securities added to the ban period: Bharat Heavy Electricals, Canara Bank, Manappuram Finance, Gujarat Narmada Valley Fertilizers & Chemicals
Securities removed from the ban period: Nil
