Stocks To Watch: Bharti Airtel, Zomato, DLF, Apollo Tyres, Jindal Steel
Here are the stocks to watch before going into trade today.
Bharti Airtel Ltd. and Zomato Ltd. will be in focus on Tuesday as the telecom company is due to report its quarterly earnings, while the food aggregator announced that it will withdraw a regulatory licence for payments.
Apart from them, DLF Ltd. and Jindal Steel and Power Ltd. will also be in the spotlight as they announced their earnings.
Share indices in Asia-Pacific region were trading on a mixed note early Tuesday as market participants await US PPI data, and Federal Reserve Chair Jerome Powell's speech.
The Nikkei 225 was trading 160.05 points or 0.42% higher at 38,339.51, and the KOSPI index was 0.46 points or 0.02% lower at 2,726.75. The S&P ASX 200 was 20.00 points or 0.26% down at 7,730.00 as of 06:45.
Fed Chair Jerome Powell and European Central Bank's Governing Council member Klaas Knot will speak later today. Market participants will monitor the speech for fresh clues on the US central bank's next policy move.
Also, investors will look forward to the release of US Producer Price Index print for April, which is expected to show demand for final goods rose 0.3% on the quarter from 0.2% in March, according to a Bloomberg's survey.
US stocks fluctuated at the start of the week, which will bring inflation data seen as key in shaping the outlook for Federal Reserve policy, according to Bloomberg.
The S&P 500 Index fell 0.02%, and the Nasdaq Composite rose 0.29%, as of Monday. The Dow Jones Industrial Average fell by 0.21%.
Brent crude was trading 0.24% higher at $83.60 a barrel. Gold was higher by 0.06% at $2,337.82 an ounce.
The GIFT Nifty was trading 30 points or 0.11% higher at 22,243.00 as of 06:55 a.m.
India's benchmark stock indices recovered from the day's low to end higher for a second consecutive session on Monday, led by gains in heavyweights HDFC Bank Ltd., ICICI Bank Ltd., and Tata Consultancy Services Ltd.
The Nifty 50 ended 48.85 points, or 0.22%, higher at 22,104.05, and the Sensex gained 111.66 points, or 0.15%, to close at 72,776.13.
Overseas investors remained net sellers of Indian equities for the eighth consecutive session on Monday. Foreign portfolio investors offloaded stocks worth Rs 4,498.9 crore, while domestic institutional investors stayed net buyers for 15 straight sessions and mopped up equities worth Rs 3,562.7 crore, the NSE data showed.
The Indian rupee weakened by 3 paise to close at Rs 83.52 against the US dollar.
Earnings In Focus
Bharti Airtel, Siemens, Shree Cement, Colgate Palmolive (India), Oberoi Realty, AIA Engineering, Apollo Tyres, Apar Industries, Radico Khaitan, Devyani International, Shyam Metalics and Energy, PVR Inox, Bajaj Electricals, Zydus Wellness, Safari Industries India, Archean Chemical Industries, Jubilant Ingrevia, VMART Retail, Thyrocare Technologies, Sagar Cements, Repco Home Finance, Patanjali Foods, BASF India, BLS International, Kirloskar Brothers.
Earnings Post Market Hours
DLF Q4 FY24 - (Consolidated, YOY)
Revenue up 46.63% at Rs 2,135 crore vs Rs 1,456 crore (Bloomberg estimate Rs 1,845 crore)
Ebitda up 89.25%at Rs 754.38 crore vs Rs 399 crore (Bloomberg estimate Rs 545 crore)
Margin up 795 bps at 35.33% vs 27.37% (Bloomberg estimate 29.6%)
Net profit up 61.4% at Rs 920 crore vs Rs 570 crore (Bloomberg estimate Rs 644 crore)
Board approved the appointment of Ashok Kumar Tyagi as CFO in addition to position of MD.
Board recommended dividend of Rs 5 per share.
Chalet Hotels Q4 FY24 - (Consolidated, YOY)
Revenue up 23.8% at Rs 418 crore vs Rs 338 crore, (Bloomberg estimate Rs 453 crore)
Ebitda up 20% at Rs 183 crore vs Rs 152 crore, (Bloomberg estimate Rs 204 crore)
Margin at 43.7% vs 45.1% (Bloomberg estimate 45%)
Net profit at Rs 82 crore vs Rs 37 crore (Bloomberg estimate Rs 90 crore)
Jindal Steel and Power Q4 FY24 - (Consolidated, YOY)
Revenue down 1.5% at Rs 13,487 crore vs Rs 13692 crore (Bloomberg estimate Rs 11,896 crore)
Ebitda up 11.75% at Rs 2,444 crore vs Rs 2187 crore (Bloomberg estimate Rs 2398 crore)
Margin up 214 bps at 18.12% vs 15.97% (Bloomberg estimate 10.20%)
Net profit up 100.45% at Rs 933 crore vs Rs 466 crore (Bloomberg estimate Rs 1,133 crore)
Note: Exceptional loss Rs 153 crore in Q4 FY23.
Approved the final dividend of Rs 2 per share.
Sanofi India Q1 - (Consolidated, QoQ)
Revenue up 5.54% at Rs 732 crore vs Rs 694 crore (Bloomberg estimate Rs 761 crore)
Ebitda up 16.8% at Rs 219 crore vs Rs 187 crore, (Bloomberg estimate Rs 215 crore)
Margin up 288 bps at 29.88% vs 27%, (Bloomberg estimate 28.2%)
Net profit down 0.79% at Rs 137 crore vs Rs 138 crore, (Bloomberg estimate Rs 157 crore)
Electrosteel Castings Q4 FY24 (Consolidated, YOY)
Revenue up 7% at Rs 2,004 crore vs Rs 1,872 crore
EBITDA up 61.5% at Rs 311 crore vs Rs 193 crore
Margin at 15.5% vs 10.3%
Net profit at Rs 227 crore vs Rs 89 crore
Aarti Pharmalabs Q4 FY24 - (Consolidated, YOY)
Revenue at Rs 506 crore vs Rs 485 crore, up 4.26%
Ebitda at Rs 118 crore vs Rs 79.99 crore, up 46.91%
Margin up 674 bps at 23.23% vs 16.49%.
Net profit up 52.2% at Rs 65.25 crore vs Rs 42.87 crore.
GIC Housing Finance Q4 FY24 (YoY)
Total income down 7.61% at Rs 266 crore vs Rs 287 crore,
Net profit up 2.48% at Rs 53.59 crore vs Rs 52.29 crore,
Stocks to Watch
Hero MotoCorp: The company joined ONDC network to offer parts and accessories to customers on the digital platform.
Vedanta: The company will consider raising funds via issue of equity shares via FPO, rights issue or other ways on May 16. Unit Cairn Oil and Gas's reserves and resources portfolio grew by 19% YoY to 1.4 billion barrels of oil equivalent.
Maruti Suzuki: The company introduced 2 new variants in FRONX priced at Rs 8.93 lakh and Rs 9.43 lakh.
Zomato: Arm ZPPL will voluntarily surrender the certificate of authorization issued by RBI to operate as an online payment aggregator and also to withdraw the application to operate as the issuer of pre-paid payment instruments.
Shriram Finance: The board approved the sale of entire stake in arm Shriram Housing Finance to Mango Crest & Warburg Pincus. Warburg Pincus to buy unit for Rs 4,630 crore.
Rail Vikas Nigam: The company received an order worth of Rs 239 crore.
Coromandel International: The company through its arm acquired an additional 7% stake in Chennai-based drone manufacturing company Dhaksha Unmanned Systems for Rs 150 crores.
Manali Petrochem: The company board approved setting up additional manufacturing facilities in western India.
Bulk Deals
Great Eastern Shipping: Nalanda India Equity Fund sold 20 lakh shares (1.4%) at Rs 950.25 apiece, Ghisallo Master Fund LP bought 19.58 lakh shares (1.37%) at Rs 950 apiece.
Anant Raj Industries: Axis Mutual Fund Axis Small Cap Fund bought 26 lakh shares (0.8%) at Rs 368 apiece.
Trading Tweaks
Moved out of short-term ASM framework: Abans Holdings, Kirloskar Electric Company.
Price band change from 20% to 10%: Kirloskar Electric Company.
Ex/record dividend: Gravita India, Godrej Consumer Products, Omax Autos.
F&O Cues
Nifty May futures up by 0.38% to 22,201 a premium of 96.95 points.
Nifty May futures open interest down by 0.7%.
Nifty Bank May futures up by 0.98% to 48,003.7 at a premium of 249 points.
Nifty Bank May futures open interest down by 3.7%.
Nifty Options May 16 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 21,000.
Bank Nifty Options May 15 Expiry: Maximum Call Open Interest at 48,000 and Maximum Put open interest at 46,000.
Securities in ban period: Balrampur Chini Mills, Canara Bank, GMR Infra, Hindustan Copper, Vodafone Idea, Piramal Enterprise, PNB, Sail, Zee Entertainment Enterprise.
