Stocks To Watch: Tata Steel, NBCC, Brigade Enterprises, Alkem Laboratories

The stocks of NBCC Ltd., Brigade Enterprises Ltd. and Medplus Health Services Ltd. will be in focus after it announced its quarterly earnings on Tuesday. In addition, Tata Steel Ltd., Alkem Laboratories Ltd. and Deepak Fertilisers and Petrochemicals Ltd. will be in the spotlight as it announces its quarterly results.

ICRA Ltd. has upgraded the long-term rating of Adani Total Gas Ltd. to 'AA' with a stable outlook citing improved financial risk profile, backed by continued growth in sales volume that has led to a higher scale of operations and better profitability.

Hindalco Industries Ltd.'s American subsidiary Novelis plans to raise up to $945 million through an initial public offering, as it prepares for its stock market debut on the New York Stock Exchange.

Most Asian benchmarks declined as investors await the inflation reading from Australia, and as caution rose about the Federal Reserve's policy path going forward.

The Nikkei 225 was trading 23.87 points or 0.1% lower at 38,831.50, and the S&P ASX 200 was trading 53.80 points or 0.7% down at 7,712.90 as of 06:50 a.m.

The S&P 500 Index and Nasdaq Composite rose 0.02% and 0.59%, respectively, as of Tuesday. The Dow Jones Industrial Average fell by 0.55%.

Earlier on Tuesday, the Nasdaq Composite rose 0.66% to a fresh high of 17,032.66, tracking sharp gains in shares of chipmaker Nvidia Corp.

Brent crude was trading 0.23% higher at $84.45 a barrel. Gold fell 0.15% to $2,357.71 an ounce.

The GIFT Nifty was trading 26 points or 0.11% down at 22,839.00 as of 06:53 a.m.

India's benchmark stock indices ended lower for the second consecutive session on Tuesday, tracking losses in shares of Reliance Industries Ltd. and Bharti Airtel Ltd. The NSE Nifty 50 closed 44.30 points, or 0.19%, lower at 22,888.15, and the S&P BSE Sensex ended 220.05 points, or 0.29%, down at 75,170.45.

Overseas investors turned net buyers of Indian equities on Tuesday after two consecutive sessions of selling. Foreign portfolio investors mopped up stocks worth Rs 65.6 crore and domestic institutional investors remained net buyers for the seventh straight day and mopped up equities worth Rs 3,231.7 crore, according to provisional data from the National Stock Exchange.

The Indian currency weakened by 4 paise to close at Rs 83.18 against the US dollar.

Tata Steel, Alkem Laboratories, Deepak Fertilisers & Petrochemicals Corporation, IPCA Laboratories, Shriram Properties, Mahanagar Telephone Nigam, Mazagon Dock Shipbuilders, NOCIL, Ahluwalia Contracts (India), AVG Logistics, Bata India, Cummins India, Dredging Corporation of India, Droneacharya Aerial Innovations, Entero Healthcare Solutions, Federal-Mogul Goetze, Genus Power Infrastructure, Globus Spirits, GMR Airports Infrastructure, G R Infraprojects, Garware Hi-Tech Films, Gufic Biosciences, Heidelberg Cement India, Heritage Foods, The Hi-Tech Gears, Indegene, Innova Captab, Ion Exchange, ISGEC Heavy Engineering, IST, Jet Freight Logistics, Jindal Poly Films, Jubilant Pharmova, Khaitan (India), KIOCL, KNR Construction, Lemon Tree Hotels, Liberty Shoes, Maithan Alloys, Mishra Dhatu Nigam, M. K. Proteins, Nahar Spinning Mills, Neil Industries, Optiemus Infracom, Red Tape, RHI Magnesita India, Royal Orchid Hotels, RPP Infra Projects, RRIL, Rattanindia Enterprises, Sakthi Sugars, Samhi Hotels, SJVN, SMS Pharmaceuticals, Suprajit Engineering, Zuari Industries.

NBCC India Q4 FY24 (Consolidated, YoY)

• Revenue up 43.1% at Rs 4,025 crore versus Rs 2,813 crore (Bloomberg estimate Rs 3,583 crore).

• Ebitda at Rs 243 crore versus Rs 104 crore (Bloomberg estimate Rs 137.3 crore).

• Margin at 6% versus 3.7% (3.8%).

• Net profit up 24.5% at Rs 141 crore versus Rs 114 crore (Bloomberg estimate Rs 108.8 crore).

Brigade Enterprises Q4 FY24 (Consolidated, YoY)

• Revenue up 102.04% at Rs 1702 crore versus Rs 843 crore (Bloomberg estimate Rs 1,159 crore).

• Ebitda up 114.24%at Rs 432.73 crore versus Rs 201.98 crore (Bloomberg estimate Rs 286 crore).

• Margin up 144 bps at 25.41% versus 23.97% (Bloomberg estimate 24.7%).

• Net profit up 234.22% at Rs 210.86 crore versus Rs 63.09 crore (Bloomberg estimate Rs 89.66 crore).

• Board recommends final dividend of Rs 2 per share.

Medplus Health Services Q4 FY24 (Consolidated, YoY)

• Revenue up 19% at Rs 1,490 crore versus Rs 1,253 crore (Bloomberg estimate Rs 1489 crore).

• Ebitda up 29.7% at Rs 106 crore versus Rs 82 crore (Bloomberg estimate Rs 83.57 crore).

• Margin at 7.1% versus 6.5% (Bloomberg estimate 5.6%).

• Net profit up 26.4% at Rs 34 crore versus Rs 27 crore (Bloomberg estimate Rs 18.3 crore).

IRCTC Q4 FY24 (Consolidated, YoY)

• Revenue up 19.7% at Rs 1,155 crore versus Rs 965 crore (Bloomberg estimate Rs 1,146 crore).

• Ebitda up 11.7% at Rs 362 crore versus Rs 325 crore (Bloomberg estimate Rs 394 crore).

• Margin at 31.4% versus 33.6% (Bloomberg estimate 34.3%).

• Net profit up 1.9% at Rs 284 crore versus Rs 279 crore (Bloomberg estimate Rs 311 crore).

• Board recommends final dividend of Rs 4 per share.

Aditya Birla Fashion And Retail Q4 FY24 (Consolidated, YoY)

• Revenue up 18.3% at Rs 3,407 crore versus Rs 2,880 crore (Bloomberg estimate Rs 3,337 crore).

• Ebitda up 47.1% at Rs 284 crore versus Rs 193 crore.

• Margin at 8.3% versus 6.7%.

• Net loss of Rs 266 crore versus loss of Rs 195 crore (Bloomberg estimate net loss Rs 259 crore).

Amara Raja Energy And Mobility Q4 FY24 (Consolidated, YoY)

• Revenue up 19.52% at Rs 2,908 crore versus Rs 2433 crore.

• Ebitda up 16.24%at Rs 410.26 crore versus Rs 352.93 crore.

• Margin down 39 bps at 14.1% versus 14.5%.

• Net profit up 61.97% at Rs 230 crore versus Rs 142 crore.

Gujarat Narmada Valley Fertilizers and Chemicals Q4 FY24 (Consolidated, YoY)

• Revenue down 7.1% at Rs 2,110 crore versus Rs 2,271 crore.

• Ebitda down 60.7% at Rs 145 crore versus Rs 369 crore.

• Margin down 937 bps at 6.9% versus 16.2%.

• Net profit down 61.3% at Rs 130 crore versus Rs 336 crore.

• Board recommends dividend of Rs 16.5 per share.

• Mahindra And Mahindra Financial Services: The company has approved the issuance of bonds on a private placement basis up to Rs 2,000 crore with green shoe options up to Rs 500 crore.

• Adani Total Gas: The Rating Agency ICRA has upgraded the long-term rating to AA, outlook stable, and re-affirms short-term rating at A1+.

• Oil India: The company signed a MoU with HPCL to collaborate on conventional & alternative energy portfolios.

• Wipro: The company to transform, and modernise the IT operations of Close Brothers.

• SpiceJet: Delhi High Court grants time to return two aircraft and engines along with technical records by June 17.

• Grasim Industries: Birla Group holdings increase their stake to 23.18% from 19.10%.

• Havells India: The company has incorporated a Joint Venture between Havells International Inc. and KRUT LED, LLC to Market and sell lighting products and solutions owned by Havells India Limited within the United States of America.

• IKIO Lighting: Subhash Chand Agrawal, CFO and KMP of the company has resigned from the position effective from Jun. 30, 2024.

• TCPL Packaging: The company is to set up a greenfield facility in Chennai for manufacturing folding cartons, aiming at enhancing the company’s PAN India presence and improving its capability to serve both new and existing customers.

• PNC Infratech: The company received a bonus worth Rs 56.4 crore for early completion of the EPC project.

• Hindware Home Innovation: The company appointed Naveen Malik as the CEO of the company.

• Timken India: Timken Singapore Pte sold 50 lakh shares (6.64%) while Government of Singapore bought 28.49 lakh shares (3.78%), Nippon India Mutual Fund bought 4.21 lakh shares (0.55%), Monetary Authority of Singapore bought 3.51 lakh shares (0.46%) and among others at Rs 3913.35 apiece.

• Inox Wind: Inox Wind Energy Limited sold 5.5 crore shares (16.87%) at Rs 150.58 apiece while Morgan Stanley Asia Singapore Pte bought 83.16 lakh shares (2.54%) at Rs 150 apiece, Okoworld Okovision Classic bought 35 lakh shares (1.07%) at Rs 150 apiece, Goldman Sachs (Singapore) Pte bought 26 lakh shares (0.79%) at Rs 150 apiece and BNP Paribas Arbitrage bought 16.5 lakh shares (0.5%) at Rs 150 apiece and among other buyers.

• Aarti Drugs: Blend Fund 2 bought 5.11 lakh shares (0.55%) at Rs 484.97 apiece, while Mirik Rajendra Gogri sold 4.68 lakh shares (0.5%) at Rs 485.5 apiece.

• Concord Biotech: 1575773 Ontario Inc sold 35.48 lakh shares (3.39%) at Rs 1361.26 apiece, while Norges Bank on Account of The Government Pension Fund Global bought 6 lakh shares (0.57%) at Rs 1386.95 apiece.

• Hatsun AgroProduct: Promoter R G Chandramogan created a pledge for 63.72 lakh shares on May 27.

• Price Band Change from 20% to 10%: Bharat Dynamics.

• Ex/record dividend: Trident, CMS Info System.

• Moved out of short-term ASM framework: Honeywell Automation India, Ram Ratna Wires.

• Nifty May futures down by 0.25% to 22937.25 at a premium of 49.1 points.

• Nifty May futures open interest down by 15%.

• Nifty Bank May futures down by 0.34% to 49,182.8 at a premium of 40.65 points.

• Nifty Bank May futures open interest down by 20.12%.

• Nifty Options May 30 Expiry: Maximum Call open interest at 24,000 and Maximum Put open interest at 22,500.

• Bank Nifty Options May 29 Expiry: Maximum Call Open Interest at 50,000 and Maximum Put open interest at 48,000.

• Securities in ban period: Aditya Birla Fashion, Biocon, Hindustan Copper, Vodafone idea, Piramal Enterprises.

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