Stocks To Watch: Tata Motors, Zomato, Jindal Steel, UPL, Piramal Pharma
Here are the stocks to watch before going into trade today.
Stocks of Tata Motors Ltd., Kalyan Jewellers Ltd. and Piramal Pharma Ltd. will be in focus after it announced its quarterly earnings on Friday. In addition, Zomato Ltd., Aarti Pharmalabs Ltd. and Varun Beverages Ltd. will be in the spotlight as it announces its quarterly results.
The Securities and Exchange Board of India has opened a preliminary enquiry related to the delisting of ICICI Securities Ltd., after more than 100 shareholders filed a class action suit in a tribunal against the plan, according to people with knowledge of the matter.
Bijith Bhaskar—who heads cards, digital payments, prepaid solutions, consumer finance, and e-commerce and merchant ecosystems at ICICI Bank Ltd.—has resigned from his position, the bank said in an exchange filing on Friday.
Most markets in Asia-Pacific countries fell in early trade Monday as investors assess inflation data from China, and await for Japan's PPI.
The Nikkei 225 was trading 59.53 points or 0.16% lower at 38,169.58, and the S&P ASX 200 was 9.90 points or 0.13% down at 7,739.10 as of 06:46 a.m.
The US stock market lost traction and bond yields rose after data pointed to an economy that is slowing amid stubborn inflationary pressures, posing a challenge to the outlook of Federal Reserve rate cuts, Bloomberg said.
The S&P 500 and Dow Jones Industrial settled 0.16% and 0.32% higher respectively on Friday. The Nasdaq Composite ended 0.03% lower.
Brent crude was trading 0.34% lower at $82.45 a barrel. Gold fell 0.04% to $2,359.61 an ounce.
The GIFT Nifty was trading 25.5 points or 0.12% higher at 22,082.50 as of 06:47 a.m.
India's benchmark equity indices logged their worst week in nearly two months as they declined around 2% this week. On Friday, the indices ended higher after five sessions, led by gains in Bharat Petroleum Corp. and Hero MotoCorp Ltd.
The Nifty ended 0.44%, or 97.10 points, higher at 22,054.60 and the Sensex rose 248.45 points, or 0.34%, to close at 72,652.62.
Overseas investors remained net sellers of Indian equities for the seventh consecutive session on Friday. Foreign portfolio investors offloaded stocks worth Rs 2,117.5 crore and domestic institutional investors stayed net buyers for 14 straight sessions and mopped up equities worth Rs 2,709.8 crore, according to provisional data from the National Stock Exchange.
The Indian currency strengthened by 2 paise to close at Rs 83.49 against the US dollar.
Earnings in Focus
UPL, Jindal Steel & Power, Zomato, DLF, GIC Housing Finance, Inox India, Varun Beverages, Aarti Pharmalabs, Aditya Birla Capital, Cera Sanitaryware, Chalet Hotels, Ethos, Electrosteel Castings, CE Info Systems, Sanofi India, Tube Investments Of India
Aarti Pharmalabs, Aditya Birla Capital, Alembic, Bombay Burmah Trading Corp, BLS E-Services, Cera Sanitaryware, Chalet Hotels, DLF, Ethos, Electrosteel Castings, GIC Housing Finance, INOX India, Jindal Steel and Power, C.E. Info Systems, Sanofi India, Tube Investments of India, UPL, Varun Beverages, Zomato.
Earnings Post Market Hours
Tata Motors (Consolidated, YoY)
Revenue up 13.26% at Rs 1.19 lakh crore vs Rs 1.05 crore (Bloomberg estimate Rs 1.21 lakh crore).
Ebitda up 32.81% at Rs 16,995 crore vs Rs 12,795 crore, (Bloomberg estimate Rs 17,407 crore).
Margin up 208 bps at 14.16% vs 12.07%, (Bloomberg estimate 14.4%).
Net profit up 218.93% at Rs 17,529 crore vs Rs 5,496 crore, (Bloomberg estimate 6,967 crore).
Note: Deferred tax write-back of Rs 9,478 crore vs Rs 1,737 crore.
Kalyan Jewellers (Consolidated, YOY)
Revenue up 34.09% at Rs 4535 crore vs Rs 3388 crore, (Bloomberg estimate Rs 4506 crore).
Ebitda up 19.27% at Rs 306 crore vs Rs 257 crore, (Bloomberg estimate Rs 315 crore).
Margin down 83 bps at 6.75% vs 7.59%, (Bloomberg estimate 7%).
Net profit up 97% at Rs 137 crore vs Rs 69.79 crore, (Bloomberg estimate Rs 140 crore).
TCI Express (Consolidated, YoY)
Revenue down 2.81% at Rs 317 crore vs Rs 326 crore, (Bloomberg estimate Rs 328 crore).
Ebitda down 17.17% at Rs 44.84 crore vs Rs 54.14 crore, (Bloomberg estimate Rs 51 crore).
Margin down 245 bps at 14.14% vs 16.59%, (Bloomberg estimate 15.6%).
Net profit down 17.84% at Rs 31.59 crore vs Rs 38.45 crore, (Bloomberg estimate 35.04 crore).
Dilip Buildcon (Consolidated, YOY)
Revenue up 18.46% at Rs 3365 core vs Rs 2841 crore.
Ebitda up 93.9%at Rs 329 crore vs Rs 170 crore.
Margin up 381 bps at 9.79% vs 5.98%.
Net profit up 24.04% at Rs 287 crore vs Rs 231 crore.
Q1 Earnings ABB India (YOY)
Revenue up 27.75% at Rs 3080 crore vs Rs 2411 crore.
Ebitda at up 98.09% Rs 565 crore vs Rs 285 crore.
Margin up 651 bps at 18.34% vs 11.83%.
Net profit up 87.54% at Rs 459 crore vs Rs 245 crore.
VIP Industries (Consolidated, YoY)
Revenue up 14.6% at Rs 516 crore vs Rs 451 crore (Bloomberg estimate Rs 513 crore).
Ebitda down 87.8% at Rs 8 crore vs Rs 64 crore (Bloomberg estimate Rs 49 crore).
Margin at 1.5% vs 14.3% (Bloomberg estimate 9.6%).
Net loss of Rs 24 crore vs loss of Rs 4.3 crore (Bloomberg estimate).
Neuland Laboratories (Consolidated, YoY)
Revenue down 5.4% at Rs 385 crore vs Rs 407 crore (Bloomberg estimate Rs 415 crore).
Ebitda down 10.8% at Rs 107 crore vs Rs 120 crore.
Margin at 27.8% vs 29.5%.
Net profit down 20% at Rs 67.6 crore vs Rs 84.5 crore (Bloomberg estimate 24.4 crore).
Cholamandalam Financial (Consolidated, YOY)
Total income up 35.53% at Rs 7158 crore vs Rs 5,281 crore.
Net profit up 26.97% at Rs 1144 crore vs Rs 901 crore.
Bank Of India (YoY)
NII up 7% at Rs 5,936 crore vs Rs 5,524 crore.
Net profit up 6.55% at Rs 1,439 crore vs Rs 1350 crore.
Gross NPA at 4.98% vs 5.35% (QoQ).
Net NPA at 1.22% vs 1.41% (QoQ).
Thermax (Consolidated, YoY)
Revenue up 19.59% at Rs 2764 crore vs Rs 2311 crore.
EBITDA up 36.64% at Rs 273 crore Rs 200 crore.
Margin up 123 bps at 9.88% vs 8.65%.
Net profit up 20.08% at Rs 187 crore vs Rs 156 crore.
Sharda Cropchem (Consolidated, YoY)
Revenue down 11.46% at Rs 1312 crore vs Rs 1481 crore, (Bloomberg estimate Rs 1043 crore).
Ebitda down 19.92% at Rs 255 crore vs Rs 318 crore, (Bloomberg estimate Rs 139 crore).
Margin down 205 bps at 19.42% vs 21.47%, (Bloomberg estimate 13.3%).
Net profit down 27.84% at Rs 143 crore vs Rs 199 crore, (Bloomberg estimate Rs 63 crore).
Aarti Industries (Consolidated, YoY)
Revenue up 7.06% at Rs 1773 crore vs Rs 1656 crore, (Bloomberg estimate Rs 1,851 crore).
Ebitda up 12.3% at Rs 283 crore vs Rs 252 crore, (Bloomberg estimate Rs 289 crore).
Margin up 74 bps at 15.96% vs 15.21%, (Bloomberg estimate 15.6%).
Net profit down 11.4% at Rs 132 crore vs Rs 149 crore, (Bloomberg estimate Rs 131 crore).
Syrma SGS Technology (Consolidated, YOY)
Revenue up 66.89% at Rs 1134 crore vs Rs 680 crore, (Bloomberg estimate Rs 973 crore).
Ebitda up 29.29% at Rs 73.66 crore vs Rs 56.97 crore, (Bloomberg estimate Rs 80 crore).
Margin down 188 bps at 6.49% vs 8.38%, (Bloomberg estimate 8.2%).
Net profit up 5.43% at Rs 45.21 crore vs Rs 42.88 crore, (Bloomberg estimate Rs 45 crore).
Punjab and Sind Bank (YoY)
NII up 1% at Rs 689 crore vs Rs 684 crore.
Net down 69.5% profit at Rs 139 crore vs Rs 457 crore, down 69.5%.
Gross NPA at 5.43% vs 5.70% (QoQ).
Net NPA at 1.63% vs 1.80% (QoQ).
Union Bank of India (Standalone, YoY)
NII at Rs 9436 vs Rs 8250, up 14%.
Gross NPA at 4.76% vs 4.83% (QoQ).
Net NPA at 1.03% vs 1.08% (QoQ).
Net profit up 18.98% at Rs 3310 crore vs Rs 2782 crore.
Board recommends dividend of Rs 3.6 per share.
Piramal Pharma (Consolidated, YoY)
Revenue up 17.96% at Rs 2552 crore vs Rs 2163 crore (Bloomberg estimate Rs 2482 crore).
EBITDA up 51.08% at Rs 531 crore vs Rs 351 crore, (Bloomberg estimate Rs 469 crore).
Margin up 455 bps at 20.79% vs 16.23%, (Bloomberg estimate 18.9%)
Net profit up 102.09% at Rs 101 crore vs Rs 50 crore, (Bloomberg estimate Rs 208 crore)
AMI Organics - (Consolidated, YoY)
Revenue up 20.69% at Rs 225 crore vs Rs 186 crore, (Bloomberg estimate Rs 213 crore)
Ebitda up 5.6% at Rs 43.14 crore vs Rs 40.85 crore, (Bloomberg estimate Rs 34.28 crore).
Margin down 273 bps at 19.17% vs 21.91%, (Bloomberg estimate 16.1%).
Net profit down 5.62% at Rs 25.67 crore vs Rs 27.2 crore, (Bloomberg estimate Rs 23.4 crore).
Finolex Industries (Consolidated, YoY)
Revenue up 8.26% at Rs 1,235 crore vs Rs 1141 crore, (Bloomberg estimate Rs 1,192 crore).
Ebitda down 3.9% at Rs 209 crore vs Rs 217 crore, (Bloomberg estimate Rs 180 crore).
Margin down 214 bps at 16.91% vs 19.05%, (Bloomberg estimate 15.1%).
Net profit down 0.96% at Rs 165 crore vs Rs 166 crore, (Bloomberg estimate Rs 144 crore).
Stocks to Watch
Vedanta: The company’s unit CIHL acquired an additional 46.57% stake in AvanStrate for JPY 12.2 billion.
Wipro: The company appointed Vinay Firake as CEO for the Asia Pacific, India, Middle East, and Africa strategic market unit.
Lupin: US Court has lifted temporary restraining order for Mirabegron ER Tablets. The shipment of the product has now resumed.
Housing & Urban Development Corporation: The company is in a pact with Surat Integrated Transportation Development Corp for the development of the Surat Multi-Modal Transportation Hub.
Aditya Birla Fashion and Retail: The company’s arm Clothing Retail allotted shares worth Rs 100 crore company. The company’s stake in the arm stands at 85.54% from 80% earlier.
Andhra Paper: The company is in a pact with Sweden-based Valmet AB for the supply and commissioning of a tissue paper production line.
Lemon Tree Hotels: The company signed a pact for an upcoming 60-room hotel in Bareilly, Uttar Pradesh.
Nuvama Wealth Management: Mihir Nanavati resigned from the position of CFO effective May 14. The company appointed Bharat Kalsi as CFO effective May 15.
Prestige Estates Projects: Venkata Narayana K resigned from the position of CEO.
New Listing
Indegene: The company's shares will debut on the stock exchanges on Monday at an issue price of Rs 452 apiece. The Rs 1,841.76-crore IPO was subscribed 69.91 times on its third and final day.
IPO Offering
TBO Tek: The public issue was subscribed to 86.7 times on day 3. The bids were led by institutional investors (125.51 times), non-institutional investors (50.6 times), retail investors (25.74 times) and portion reserved for Employees (17.82 times).
Aadhar Housing Finance: The public issue was subscribed to 25.49 times on day 3. The bids were led by institutional investors (72.78 times), non-institutional investors (16.5 times), retail investors (2.46 times) and portion reserved for Employees (6.52 times).
Bulk Deals
Steel Exchange of India: Vizag Profiles sold 59 lakh shares (0.49%) at Rs 13.25 apiece.
Trading Tweaks
Moved into short-term ASM framework: Allsec Technologies, Cartrade Technolgies, Future Consumer,
Ex/record dividend: Aptech, HDFC Bank, Transformers and Rectifiers, Bank of Maharashtra, Ramkrishna Forgings, UCO Bank, DCB Bank.
F&O Cues
Nifty May futures up by 1.43% to 22,140 at a premium of 84.8 points.
Nifty May futures open interest down by 3.7%.
Nifty Bank May futures down by 1.05% to at a premium of 186.15 points.
Nifty Bank May futures open interest down by 1.02%.
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 45,000.
Securities in ban period: Balrampur Chini Mills, Canara Bank, GMR Infra, Hindustan Copper, Vodafone Idea, PNB, Sail, Zee Entertainment Enterprise.
