Stock Market Today: All You Need To Know Going Into Trade On May 22
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Most stocks in the Asia-Pacific region were trading lower despite their Wall Street peers rising to a record high on Tuesday, ahead of Nvidia Corp.'s quarterly results.
The Nikkei 225 was trading 150 points or 0.39% lower at 38,798, while the S&P ASX 200 was 21.13 points or 0.27% up at 7,872 as of 06:17 a.m. Meanwhile, South Korea's benchmark was down 0.10% in early trade.
In the US, the S&P 500 rose to another record ahead of results from giant chipmaker Nvidia Corp. that traders see as a gauge for the sustainability of the bull market, Bloomberg reported.
The S&P 500 Index rose 0.25%, and the Nasdaq Composite rose 0.22%, as of Monday. The Dow Jones Industrial Average was up by 0.17%.
Brent crude was trading 0.51% lower at $82.46 a barrel. Gold was higher by 0.03% at $ 2,421.86 an ounce.
The GIFT Nifty was trading 8.50 points or 0.04% higher at 22,626.5 as of 06:24 a.m.
India’s benchmark indices ended on a mixed note on Tuesday as Tata Steel Ltd. and Hindalco Industries Ltd. rose, while ICICI Bank Ltd. and HDFC Bank Ltd. declined.
The NSE Nifty 50 closed 27.05 points, or 0.12%, higher at 22,529.05, and the S&P BSE Sensex ended 52.62 points, or 0.071%, lower at 73,953.31.
Overseas investors in Indian equities remained net sellers on Monday for the second straight session.
Foreign portfolio investors offloaded stocks worth Rs 1,874.5 crore; domestic institutional investors turned net buyers after a day of selling and mopped up equities worth Rs 3,549 crore, the NSE data showed.
The Indian currency strengthened by 2 paise to close at 83.31 against the U.S. dollar.
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Earnings in Focus
Sun Pharmaceutical Industries, Power Grid Corporation, Grasim Industries, Max Healthcare Institute, Torrent Power, FSN E-Commerce Ventures, Petronet LNG, New India Assurance, Jubilant Foodworks, Metro Brands, Gland Pharma, One 97 Communications, Sundram Fasteners, Ramco Cements, Gujarat Pipavav Port, Garden Reach Shipbuilders, Minda Corp., Star Cement, HEG, Avanti Feeds, Indigo Paints, GMM Pfaudler, DB Corp., Teamlease Services, Ashoka Buildcon, PG Electroplast, and Kaveri Seeds.
Here are the earnings estimates of major companies that are scheduled to announce their results on Tuesday:
Earnings Post Market Hours
Bharat Heavy Electricals Q4 FY24 (Consolidated, YoY)
Revenue up 0.4% at Rs 8,260 crore vs Rs 8,227 crore.
Ebitda down 30.6% at Rs 728 crore vs Rs 1,049 crore
Margin at 8.8% vs 12.8%.
Net profit down 25.6% at Rs 490 crore vs Rs 658 crore.
VA Tech Wabag Q4 FY24 (Consolidated, YoY)
Revenue up 0.8% at Rs 934 crore vs Rs 927 crore (Bloomberg estimate Rs 1,094 crore).
Ebitda up 6.5% at Rs 116 crore vs Rs 108 crore.
Margin at 12.4% vs 11.7%.
Net profit at Rs 78 crore vs loss of Rs 112 crore.
Eris Lifesciences Q4 FY24 (Consolidated, YoY)
Revenue up 36.8% at Rs 551 crore vs Rs 403 crore (Bloomberg estimate Rs 508 crore).
Ebitda up 25% at Rs 148 crore vs Rs 119 crore (Bloomberg estimate Rs 177 crore).
Margin at 27% vs 29.5% (Bloomberg estimate 34.9%).
Net profit up 29.5% at Rs 80 crore vs Rs 61 crore (Bloomberg estimate Rs 91 crore).
Godawari Power & ISPAT Q4 FY24 (Consolidated, YoY)
Revenue up 16.2% at Rs 1,530 crore vs Rs 1,317 crore.
Ebitda up 19.2% at Rs 329 crore vs Rs 276 crore.
Margin at 21.5% vs 21%.
Net profit up 29% at Rs 219 crore vs Rs 170 crore.
FIEM Industries Q4 FY24 (Consolidated, YoY)
Revenue up 27.8% at Rs 558 crore vs Rs 436 crore.
Ebitda up 23.9% at Rs 75 crore vs Rs 60 crore .
Margin at 13.4% vs 13.9%.
Net profit up 21.6% at Rs 46 crore vs Rs 38 crore.
Action Construction Equipment Q4 FY24 (Consolidated, YoY)
Revenue up 36.2% at Rs 836 crore vs Rs 614 crore.
Ebitda up 76.9% at Rs 130 crore vs Rs 73 crore.
Margin at 15.5% vs 11.9%.
Net profit at Rs 98 crore vs Rs 47 crore.
JK Tyre and Industries Q4 FY24 (Consolidated, YoY)
Revenue up 1.8% at Rs 3,698 crore vs Rs 3,632 crore (Bloomberg estimate Rs 3,834 crore).
Ebitda up 27.9% at Rs 481 crore vs Rs 376 crore (Bloomberg estimate Rs 574 crore).
Margin at 13% vs 10.4% (Bloomberg estimate Rs 15%).
Net profit up 53.9% at Rs 172 crore vs Rs 112 crore (Bloomberg estimate Rs 236 crore).
Ircon International Q4 FY24 (Consolidated, YoY)
Revenue down 1% at Rs 3,743 crore vs Rs 3,781 crore.
Ebitda up 56.3% at Rs 286 crore vs Rs 183 crore.
Margin at 7.6% vs 4.8%.
Net profit down 3.8% at Rs 247 crore vs Rs 256 crore.
Dollar Industries Q4 FY24 (Consolidated, YoY)
Revenue up 23% at Rs 500 crore vs Rs 406 crore (Bloomberg estimate Rs 491 crore).
Ebitda at Rs 57 crore vs Rs 11 crore (Bloomberg estimate Rs 54.2 crore).
Margin at 11.4% vs 2.8% (Bloomberg estimate 11%).
Net profit at Rs 34 crore vs Rs 46 lakh (Bloomberg estimate Rs 37 crore).
Metropolis Healthcare Q4 FY24 (Consolidated, YoY)
Revenue up 17.2% at Rs 331 crore vs Rs 283 crore (Bloomberg estimate Rs 308 crore).
Ebitda up 13.8% at Rs 80 crore vs Rs 70 crore (Bloomberg estimate Rs 77.6 crore).
Margin at 24.2% vs 24.9% (Bloomberg estimate 25.2%).
Net profit up 9.1% at Rs 37 crore vs Rs 33 crore (Bloomberg estimate Rs 38 crore).
GE T&D India Q4 FY24 (Consolidated, YoY)
Revenue up 30% at Rs 914 crore vs Rs 703 crore (Bloomberge estimate Rs 860 crore).
Ebitda at Rs 111 crore vs Rs 28 crore (Bloomberg estimate Rs 72 crore).
Margin at 12.1% vs 4% (Bloomberg estimate Rs 8.4%).
Net profit of Rs 66 crore vs loss of Rs 15 crore (Bloomberg estimate Rs 52 crore).
Hitachi Energy India Q4 FY24 (Consolidated, YoY)
Revenue up 27% at Rs 1,695 crore vs Rs 1,334 crore (Bloomberg estimate Rs 1,508 crore).
Ebitda up 91.4% at Rs 182 crore vs Rs 95 crore (Bloomberg estimate Rs 114 crore).
Margin at 10.7% vs 7.1% (Bloomberg estimate 7.6%).
Net profit at Rs 114 crore vs Rs 51 crore (Bloomberg estimate Rs 67 crore).
Laxmi Organic Industries Q4 FY24 (Consolidated, YoY)
Revenue up 8.4% at Rs 792 crore vs Rs 730 crore (Bloomberg estimate Rs 712 crore).
Ebitda up 55.2% at Rs 90 crore vs Rs 58 crore (Bloomberg estimate Rs 60 crore).
Margin at 11.4% vs 7.9% (Bloomberg estimate 8.4%).
Net profit up 82.5% at Rs 44 crore vs Rs 24 crore (Bloomberg estimate Rs 28 crore).
Gujarat State Fertilizers & Chemicals Q4 FY24 (Consolidated, YoY)
Revenue down 17.6% at Rs 1965 crore vs Rs 2384 crore.
Ebitda down 92.1% at Rs 26 crore vs Rs 326 crore.
Margin at 1.3% vs 13.7%.
Net profit down 89.1% at Rs 24 crore vs Rs 225 crore.
Mayur Uniquoters Q4 FY24 (Consolidated, YoY)
Revenue up 14.3% at Rs 221 crore vs Rs 193 crore.
Ebitda up 17.2% at Rs 41 crore vs Rs 35 crore.
Margin at 18.7% vs 18.2%.
Net profit up 37.8% at Rs 32 crore vs Rs 23 crore.
Maharashtra Seamless Q4 FY24 (Consolidated, YoY)
Revenue down 25.6% at Rs 1,215 crore vs Rs 1,633 crore (Bloomberg estimate Rs 1,378 crore).
Ebitda down 14.4% at Rs 275 crore vs Rs 321 crore (Bloomberg estimate Rs 313 crore).
Margin at 22.6% vs 19.7% (Bloomberg estimate 22.7%).
Net profit down 41.4% at Rs 218 crore vs Rs 373 crore (Bloomberg estimate Rs 229 crore).
Sheela Foam Q4 FY24 (Consolidated, YoY)
Revenue up 16% at Rs 845 crore vs Rs 729 crore (Bloomberg estimate Rs 875 crore).
Ebitda up 3% at Rs 81 crore vs Rs 78 crore (Bloomberg estimate Rs 84.3 crore).
Margin at 9.5% vs 10.7% (Bloomberg estimate Rs 9.6%).
Net profit up 49.5% at Rs 65 crore vs Rs 44 crore, (Bloomberg estimate Rs 54 crore).
Galaxy Surfactants Q4FY24 Results (Consolidated YoY)
Revenue down 5.2% at Rs 929 crore vs Rs 980 crore (Bloomberg Estimate: Rs 957 crore).
Ebitda down 24.4% at Rs 102 crore vs Rs 135 crore (Bloomberg Estimate: Rs 119 crore).
Margin at 10.9% vs 13.7% (Bloomberg Estimate: 12.40%).
Net profit down 14.4% at Rs 78 crore vs Rs 91 crore (Bloomberg Estimate: Rs 75 crore).
Gulf Oil Lubricants India Q4 FY24 (Consolidated, YoY)
Revenue up 9.8% at Rs 870 crore vs Rs 792 crore.
Ebitda up 34% at Rs 117 crore vs Rs 88 crore.
Margin at 13.5% vs 11%.
Net profit up 40% at Rs 87 crore vs Rs 62 crore.
PI Industries Q4 FY24 (Consolidated, YoY)
Revenue up 11.2% at Rs 1,741 crore vs Rs 1,566 crore (Bloomberg estimate Rs 1,968 crore).
Ebitda up 29% at Rs 442 crore vs Rs 343 crore (Bloomberg estimate Rs 498 crore).
Margin at 25.4% vs 22% (Bloomberg estimate 25.3%).
Net profit up 31.7% at Rs 370 crore vs Rs 281 crore (Bloomberg estimate Rs 376 crore).
Board recommends final dividend of Rs 9 per share.
ALSO READ
BHEL Q4 Results: Profit Down 25.6%
Stocks to Watch
TVS Motor: The company launched the TVS iQube electric scooter in Sri Lanka.
Suyog Telematics: The company signed a 15-year pact with BSNL for the rollout of sites across India.
Indoco Remedies: The company received final approval from the USFDA for an abbreviated new drug application for pregabalin capsules.
Biocon: The company’s arm, Biocon Biologics, announced that the USFDA has approved the company's first-to-file application for Yesafili.
G R Infraprojects: The company emerged as the lowest bidder for the Pune Ring Road project worth Rs 1,997 crore and the Wardha Expressway road project worth Rs 2,350 crore.
Royal Orchid Hotels: The company to open a 5-star resort in Kevadia, Gujarat.
Reliance Industries: The company signed a license agreement with Nel Hydrogen Electrolyser in which the company will get an exclusive license for Nel’s alkaline electrolysers in India and allow RIL to manufacture Nel’s alkaline electrolysers for captive purposes globally.
United Spirits: The company’s Nanded unit received notice from the Water Resources Department to pay water charges of Rs 345.45 crore. The company has filed a petition in the Bombay High Court for the same.
HG Infra Engineering: The company emerged as the lowest bidder for two MSRDC projects worth Rs 4,142 crore.
PNC Infratech: The company emerged as the lowest bidder for two road projects worth Rs 4,994 crore from MSRDC.
IPO Offering
Awfis Space Solutions: The company will offer its shares for bidding on Wednesday. The price band is set from Rs 364 to Rs 383 per share apiece. The Rs 598.93 crore IPO is combination of fresh issue of Rs 128 crore and rest offer for sale. The company has raised Rs 268 crore from anchor investors.
Bulk Deals
Protean eGov Technologies: HDFC Bank sold 12.94 lakh shares (3.2%), while Nippon India Mutual Fund bought 12.78 lakh shares (3.16%) at Rs 1,160 apiece.
Aptus Value Housing Finance: JIH LI LLC sold 1.01 crore shares (2.03%) at Rs 294.73 apiece Westbridge Crossover Fund LLC sold 2.47 crore shares (4.96%) at Rs 294.15 apiece, while East Bridge Capital Master Fund I bought 43.18 lakh shares (0.86%) at Rs 294 apiece, SBI Mutual Fund bought 182.32 lakh shares (3.65%) at Rs 294 apiece.
Trading Tweaks
Moved into short-term ASM framework: Frog Cellsat.
Moved out of short-term ASM framework: Hindustan Zinc.
Price Band change from 10% to 5%: Seamec Consultants.
Price Band change from 20% to 10%: Bharat Bijlee, Hindustan Zinc
Ex/record dividend: State Bank of India, Ponni Sugars, Colgate Palmolive, Trent, Oberoi Realty, The Great Eastern Shipping, Sula Vineyards.
F&O Cues
Nifty May futures up by 0.2% to 22,605.9 at a premium of 76.85 points.
Nifty May futures open interest up by 0.05%.
Nifty Bank May futures down by 0.4% to 48,153.1 at a premium of 104.9 points.
Nifty Bank May futures open interest up by 0.28%.
Nifty Options May 23 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 22,500.
Bank Nifty Options May 22 Expiry: Maximum Call Open Interest at 48,000 and Maximum Put open interest at 48,000.
Securities in ban period: Aditya Birla Capital, Balarampur Chini Mills, Bandhan Bank, Biocon, GMR Infra, Granules, Vodafone Idea, Indian Energy Exchange, India Cements, National Alunimium, Piramal Enterprises, PNB, Zee Entertainment Enterprise.
Money Market Update
The Indian currency strengthened by 2 paise to close at 83.31 against the U.S dollar.
