An employee walks past electronic ticker boards that indicate the latest stock figures inside the atrium at the National Stock Exchange. (Photographer: Dhiraj Singh/Bloomberg)

Nifty Halts Three-Day Upmove Dragged By Metals

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Closing Bell

Indian equity benchmarks halted their three-day upmove as gains in Kotak Mahindra Bank, ITC and HDFC were offset by losses in Vedanta, Hindalco and Tata Steel.

The S&P BSE Sensex was little changed at 35,176.42 while the NSE Nifty 50 index fell 0.2 percent or 21 points to 10,718.05.

Seventeen out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Metal index’s 3.4 percent drop. On the flipside, the S&P BSE Energy index was the top sectoral gainer, up 0.2 percent.

The mid- and small-cap shares underperformed their larger counterparts as the S&P BSE MidCap and S&P BSE SmallCap indices fell over a percent each.

Find Out All That You Missed During The Day On Countdown

Binani Industries Rises After NCLT Asks Lenders To Consider Revised UltraTech Offer

Shares of the Mumbai-based cement maker rose as much as 10 percent to Rs 94.

Binani Cement Ltd.’s committee of creditors were today directed by the National Company Law Tribunal to consider a revised offer from UltraTech Cement Ltd.

The Kolkata bench of the NCLT asked UltraTech to place a fresh bid before Binani Cement’s resolution professional in three days and extended the resolution process till June 24. The 270-day period for Binani Cement’s insolvency process would have ended in April, had the NCLT not provided this extension.

Also Read: Binani Cement Lenders Asked To Consider Revised UltraTech Offer

Fab Four Stocks Of The Day

  • Som Distilleries: The Bhopal-based beer and whiskey maker rose as much as 7.08 percent to record high of Rs 299.55 after its net profit more than doubled in March quarter.
  • Kotak Mahindra Bank: The Mumbai-based private sector lender rose as much as 6.4 percent to record high of Rs 1,288. CLSA has maintained 'outperform' on the stock and has hiked target price to Rs 1,360 from Rs 1,210.
  • Fortis Healthcare: The Delhi-based hospital chain operator rose to fresh two-month high after IHH Healthcare and Burman’s and Munjal’s revised their offers in the race for the country’s second-largest hospital chain.
  • Equitas Holdings: The Chennai-based non-banking finance company rose 6 percent to Rs 163.80. Trading volume was 6.5 times its 20-day average.

Adani Enterprises Falls Most In Nearly Nine Months

  • Shares of the Gujarat-based coal mining and cargo handling company fell as much as 11 percent, the most since August 2017, to Rs 124.20.

Marico Falls After net Profit Misses Estimates In Q4

Shares of the Mumbai-based cooking oil maker fell 3.2 percent to Rs 322.05 after it missed Bloomberg consensus estimates in March quarter.

Key earnings highlights:

  • Net profit at Rs 181 crore versus Rs Bloomberg estimate of Rs 198 crore
  • Consolidated net profit up 7.1 percent at Rs 181 crore versus Rs 168.7 crore (YoY)
  • Revenue at Rs 1,480 crore versus Bloomberg estimate of Rs 1,526 crore
  • Revenue up 12.6 percent at Rs 1,480.1 crore versus Rs 1,314.6 crore (YoY)
  • Consolidated margin at 17 percent versus 19.7 percent (YoY)
  • Consolidated EBITDA down 2.4 percent at Rs 252.3 crore versus Rs 258.6 crore (YoY)
  • Other income at Rs 22.88 crore

Kansai Nerolac Fourth Quarter Profit Misses Estimates

Shares of the Mumbai-based paint maker fell 0.11 percent to Rs 500.40 after it missed Bloomberg consensus estimates in March quarter.

Key earnings highlights:

  • Net profit at Rs 106 crore versus Bloomberg estimate of Rs 124 crore
  • Net profit down 8.6 percent at Rs 106 crore versus Rs 116 crore (YoY)
  • Revenue up 3.6 percent at Rs 1,098.27 crore versus Rs 1,060 crore (YoY)
  • Standalone margin at 15.3 percent versus 17.4 percent (YoY)
  • Standalone EBITDA up 2.9 percent at Rs 168.7 crore versus Rs 164 crore (YoY)

Hero MotoCorp Falls After March Quarter Earnings

Shares of the Delhi-based two-wheeler maker fell 1.6 percent to Rs 3,671 after it reported March quarter earnings.

Key earnings highlights:

  • Standalone net profit at Rs 967 crore versus Bloomberg estimate of Rs 958 crore
  • Standalone net profit up 34.7 percent at Rs 967 crore versus Rs 718 crore (YoY)
  • Standalone revenue at Rs 8,564 crore versus Bloomberg estimate of Rs 8,541 crore
  • Standalone revenue up 23.7 percent at Rs 8,564 crore versus Rs 6,923 crore (YoY)
  • Standalone EBITDA at Rs 1,370 crore versus Bloomberg estimate of Rs 1,379 crore
  • Standalone EBITDA up 43.2 percent at Rs 1,370 crore versus Rs 957.4 crore (YoY)
  • Standalone margin at 16 percent versus Bloomberg estimate of 16.1 percent
  • Standalone margin at 16 percent versus 13.8 percent (YoY)

European Stocks Edge Higher

Stocks gained in Europe after they declined in Asia, as many investors returned from holidays to digest the latest earnings reports and shift their focus to the Federal Reserve’s imminent rate decision. The dollar dropped and gold climbed.

Century Textiles' March Quarter Profit More Than Doubles

Shares of the Mumbai-based cement and cotton textile maker pared losses after its March quarter net profit more than doubled in the March quarter.

  • Net profit up 195 percent at Rs 109 crore versus Rs 36.83 crore (YoY)
  • Revenue at down 5.36 percent at Rs 2,087.28 crore versus Rs 2,205 crore (YoY)
  • EBITDA up 29.4 percent at Rs 208.8 crore versus Rs 161.3 crore (YoY)
  • EBITDA margin at 10 percent versus 8.1 percent (YoY)
  • Announces dividend of Rs 6.5 per share

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Market Check: Sensex Rises Over 100 Points Led By Kotak, HDFC Bank

  • Indian equity benchmarks broke out of range-bound trading led by Kotak Mahindra Bank, HDFC Bank and Reliance Industries.
  • The S&P BSE Sensex rose 0.39 percent or 137 points to 35,296 and the NSE Nifty 50 index gained 0.2 percent or 24 points to 10,763.
  • The overall market breadth was marginally negative as 1,364 shares were declining while 1,152 were advancing on BSE,
  • Twelve out of 19 sector gauges compiled by BSE were trading lower led by the S&P BSE Metal exchange's 2.6 percent drop. On the flipside, the S&P BSE FMCG index was the top sectoral gainer, up 0.8 percent.

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Stocks Moving On Heavy Volumes

  • 3M India: The Bangalore-based container and packaging company rose 0.37 percent to Rs 20,600. Trading volume was 30.1 times its 20-day average.
  • PC Jeweller: The Delhi-based jeweller fell 23 percent to Rs 110. Trading volume was 9.3 times its 20-day average.
  • Equitas Holdings: The Chennai-based non-banking finance company rose 6 percent to Rs 163.80. Trading volume was 6.5 times its 20-day average.
  • Marico: The Mumbai-based cooking oil maker rose 3 percent to record high of Rs 343. Trading volume was 5.7 times its 20-day average.

Sugar Makers Rally On Report That Cabinet Approves Subsidy For Mills

Shares of sugar manufacturers rallied after the Union Cabinet approved subsidy for sugar mills, news agency Cogencis reported sources.

  • Kothari Sugars rose 5.4 percent
  • Mawana Sugars rose 4.13 percent
  • KM Sugar Mills rose 3.14 percent
  • Avadh Sugar & Energy rose 2.8 percent
  • Dalmia Bharat Sugar rose 2.5 percent
  • Uttam Sugar Mills rose 2.8 percent
  • Bajaj Hindusthan Sugar up 1.7 percent
  • Poni Sugars Erode up 1.6 percent

Ramco Systems Rises After Winning Contract From P&N Bank

Shares of the Chennai-based IT company rose 2.5 percent to Rs 477.55 after it won a contract from Australia’s P&N Bank for payroll transformation, the company said in an exchange filing.

SAIL Falls Over 4% After Block Deal

  • Shares of the state-run steel producer fell 4.25 percent to Rs 74.35 after 30 lakh shares changed hands in a block.

Buyers and sellers were not immediately known

Source: Bloomberg

Cyient Surges To Record High On Heavy Volumes

Shares of the Hyderabad-based IT company rose 8 percent to record high of Rs 822 as trading volume more than doubled.

Trading volume was 2.2 time its 20-day average.

Som Distilleries Hits Record High As Profit More Than Doubles In Q4

Shares of the Bhopal-based beer and whiskey maker rose as much as 7.08 percent to record high of Rs 299.55 after its net profit more than doubled in March quarter.

Key earnings highlights:

  • Net sales up 50.3 percent at Rs 101.3 crore versus 67.4 crore
  • EBITDA up 140 percent at Rs 16.8 crore versus Rs 7 crore
  • EBITDA margins at 16.6 percent versus 10.4 percent
  • Net profit up 152 percent at Rs 6.3 crore versus Rs 2.5 crore
  • Raw material costs up 19.8 percent at Rs 52 crore versus Rs 43.4 crore
  • RM costs/revenues at 44 percent versus 54 percent

Speaking to BloombergQuint on March quarter earnings J K Arora, CMD, Som Distilleries & Breweries said that he expects company to maintain 50 percent sales growth going forward.

Key conversation highlights:

  • Will be able to serve only three states in the south with the new plant in Karnataka
  • Currently running at full capacity
  • U.S. is a very important market
  • Initial response from U.S. has been very good
  • For this year focus is on digital marketing in Karnataka
  • Consumer response has been phenomenal in new markets

Kotak Mahindra Bank Surges 5% On Heavy Volumes

Shares of the Uday Kotak-led private sector bank rose as much as 5.46 percent to record high of Rs 1,277.25 on the back of heavy volumes. Trading volume was 8.4 times its 20-day average.

Meanwhile, BSE has sought clarification from Kotak Mahindra Bank on a news report appearing in Financial Express quoting “Kotak Mahindra Bank to acquire Axis Bank soon”.

Find Out About Investment Prospects For Repco Home, Yes Bank On Hot Money

Nifty PSU Bank Index Falls Nearly 2% Dragged By Bank Of Baroda

Shares of the government-owned lenders were facing selling pressure dragged by Indian Bank, Union Bank of India and Bank of Baroda.

Gauge of state-run lenders — Nifty PSU Bank index fell 1.9 percent.

Find Out About Q4 Scorecard For India Glycols, Som Distilleries & IRB InvIT On Trend Spotting

PC Jeweller Extends Losses To Eighth Day, Slumps Over 60%

Shares of the Delhi-based jeweller extended decline to eighth day. The stock has slumped over 60 percent in last eight trading sessions.

In today's trade, the stock fell as much as 18 percent to Rs 118.55, its lowest level in over three years.

F&O Check: Nifty 10,800 Call Most Active On NSE

Nifty 10,800 strike price call was among the most active option contracts on the NSE.

Premium on the contract fell 5 percent to Rs 117.20. Over 1.5 lakh shares were added to the open interest which stood at 33.06 lakh shares.

Click here to see the complete options chain

Find About Expert Views On Benchmarks & Stocks On The F&O Show

India’s Manufacturing Activity Rises Marginally In April

India’s manufacturing sector activity improved marginally in April, driven by a rise in new business orders amid favourable demand conditions and easing inflationary pressures.

The Nikkei India Manufacturing Purchasing Managers Index rose to 51.6 last month from 51 in March, according to a statement by IHS Markit, which compiles the index. A reading below 50 indicates contraction and a number above it signals expansion. This is the ninth consecutive month that the manufacturing PMI remained above the 50-point-mark.

Source: Press Trust of India

Ashok Leyland Pares Losses After April Sales Jump 79%

Shares of the Chennai-based commercial vehicle maker pared losses and was little changed at Rs 164.40 after its sales rose 79 percent in April.

  • Total sales up 79 percent at 12,677 units versus 7,090 units (YoY)
  • Total sales at 12,677 units versus BloombergQuint estimate of 14,750 units
  • M&HCV sales up 98 percent at 8,968 units versus 4,532 units (YoY)
  • LCV sales up 45 percent at 3,709 units versus 2,558 units (YoY)

BHEL Gains On Order Win

Shares of the state-run heavy electrical equipment maker rose as much as 2 percent to Rs 89.55.

The company received 900 MW Nepal hydropower project orders, according to its exchange filing.

L&T To Sell Electrical And Automation Unit To Schneider Electric; Shares Gain

Shares of the construction giant rose as much as 1.7 percent while that of Schneider Electric Infrastructure surged as much as 19 percent, the most in nearly four years, to Rs 133.85.

L&T has plans to sell electrical and automation division to Schneider for Rs 14,000 crore, according to its stock exchange notification.

Tata Motors Gains As Commercial Vehicle Sales More Than Double In April

Shares of the Mumbai-based auto maker rose as much as 3.3 percent to Rs 351.65 after its commercial vehicle sales more than doubled in April.

Tata Motors has registered a growth of 86 percent in auto sales for April at 53,511 units as against 28,844 units over last year due to the continued strong sales performance of its commercial and passenger vehicles business in the domestic market.

Interglobe Aviation Falls On SEBI Probe Into Disclosure Delay

Shares of the budget carrier fell as much as 3.69 percent to Rs 1,351 after market regulator — SEBI is examining the cause for the worst drop in seven months in InterGlobe Aviation shares before the operator of the nation’s largest airline announced the resignation of its president, Bloomberg reported citing people with knowledge of the matter.

HCL Technologies Falls Sharply After March Quarter Earnings

Shares of the country's third largest IT outsourcing firm fell as much as 5 percent, the most in nearly six months, to Rs 1,000.05 after its revenue guidance for FY19, excluding acquisition, failed to meet Street expectations.

Meanwhile, HCL Technologies Ltd.'s profit matched analyst estimates in the March quarter.

Net profit stood at Rs 2,227 crore, a growth of 1.5 percent compared to the December quarter, according to the exchange filing. That's in-line with the Rs 2,248 crore profit estimated by analysts tracked by Bloomberg.

Also Read: HCL Technologies Q4 Profit Meets Estimates 

Reliance Group Shares Gain Led By Reliance Communications

Shares of Anil Ambani-led companies were trading higher led by gains in Reliance Communications.

  • Reliance Communications up 14 percent
  • Reliance Naval and Engineering up 7 percent
  • Reliance Infra up 2 percent
  • Reliance Capital up 2.3 percent
  • Reliance Home Finance up 3.9 percent
  • Reliance Nippon Life Asset Management up 0.37 percent

SEBI Probing IndiGo Stock Drop Ahead Of Ghosh's Exit

  • SEBI is investigating the 6.1 percent drop in InterGlobe Aviation's shares on Friday.
  • Regulator is also probing the reasons behind the delay in the disclosure of Aditya Ghosh’s exit by the company.

Source: Bloomberg

Bajaj Auto Gains As Sales Rise For Ninth Straight Month

Shares of the Pune-based two- and three-wheeler maker rose as much as 3.08 percent, the most in nearly five months, to Rs 3,043.40 after its sales rose ninth month in a row, driven by healthy growth in commercial vehicles segment.

The two- and three-wheeler maker sold 4.15 lakh units last month, an increase of 26 percent from the year-ago period, the Pune-based company said in a statement today.

Key sales highlights:

  • Motorcycle sales rose 19 percent to 3.49 lakh units.
  • Commercial vehicle sales rose 83 percent to 65,551 units; its highest monthly sales.
  • Domestic sales rose 29 percent to 2.29 lakh units.
  • Exports rose 22 percent to 1.85 lakh units.

Also Read: April Auto Sales: Automakers Start FY19 On A High

Opening Bell

Indian equity benchmarks edged higher led by auto stocks which rose after auto companies matched or beat BloombergQuint's consensus estimates.

The S&P BSE Sensex rose 0.3 percent or 110 points to 35,272 and the NSE Nifty 50 index gained 0.2 percent or 19 points to 10,758.

Thirteen out of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Auto index's 0.8 percent gain. On the flipside, the S&P BSE Metal index was the top sectoral loser, down 0.6 percent.

Bajaj Auto Sales Jump 26% In April

  • Bajaj Auto sold 4,15,168 units in April versus 3,29,800 units, up 25.88 percent (YoY)
  • Bajaj Auto exported 1,85,704 units versus 1,51,913 units, up 22 percent (YoY)

Found Schneider Electric As Best Fit For Division: L&T On Divesting E&A Business

In an exclusive conversation with BloombergQuint SN Subrahmanyan, MD and CEO of Larsen & Toubro said it did not feel E&A business would be part of the future growth strategy of the company.

Key conversation highlights:

  • There were 3-4 MNCs which had shown interest in acquiring E&A business
  • Residual business will be housed in the defence vertical of the company
  • Found Schneider Electric as the best fit for the division
  • Need approval from CCI
  • 3-4 international companies had shown interest
  • Sale took time due to due diligence
  • Will decide on fund usage when it comes in

Also Read: L&T To Sell Electrical Unit To Schneider As It Sharpens Focus On Core Business

HCL Tech Meets Estimates In Q4; Sees Revenue Growth Of 9.5-11.5% In FY19

The country's third largest IT outsourcing firm reported March quarter earnings which came mostly in-line with Bloomberg consensus estimates.

Key earnings highlights:

  • Revenue up 2.9 percent at Rs 13,179 crore versus Rs 12,808 crore (QoQ); Bloomberg estimate of Rs 13,201 crore
  • Net profit up 1.5 percent at Rs 2,227 crore versus Rs 2,194 crore (QoQ); Bloomberg estimate of Rs 2,249 crore
  • Consolidated EBIT up 2.9 percent at Rs 2,583 crore versus Rs 2,510 crore (QoQ); Bloomberg estimate of Rs 2,610 crore
  • Revenue in constant currency; up 1.2 percent (QoQ)
  • Dollar revenue at $2,038 million versus $1,988 million; up 2.5 percent (QoQ)
  • FY19 revenues are expected to grow between 9.5 to 11.5 percent in constant currency terms
  • FY19 expected operating margin (EBIT) range is from 19.5 percent to 20.5 percent.

Money Market Heads Up: Shorter Maturity Bonds Set To Rally; Rupee Seen Opening At 66.84

India’s shorter-maturity bonds are set to rally today after authorities scrapped a rule that prevented foreigners from investing in debt of less than three years residual maturity.

Overseas investors will also be allowed to hold up to 30 percent of the outstanding of any single government security versus 20 percent earlier.

Later in the day, RBI will auction Rs 7,000 crore of 91-day treasury bills and Rs 4,000 crore each of 182- and 364-day T-bills.

Implied opening from forwards suggest onshore spot rupee may start trading around 66.84.

Brokerage Radar

CLSA On Kotak Mahindra Bank

  • Maintained ‘Outperform’; hiked price target to Rs 1,360 from Rs 1,210.
  • March quarter’s net profit below estimates due to higher investment provisions.
  • Healthy CASA growth, but topline lagged due to NIM pressure.
  • Asset quality stable; would watch out for unsecured lending.
  • Expect 24 percent compounded growth rate in net profit over the fiscal 2018-2021, led by topline rise and stable credit costs.

Citi On Kotak Mahindra Bank

  • Maintained ‘Buy’; hiked price target to Rs 1,430 from Rs 1,230.
  • March quarter earnings reported strong growth trends across bank and subsidiaries.
  • Subsidiaries on strong footing.
  • Kotak is steadily gaining market share in main banking business.
  • Kotak is one of the better diversified financial services play.

Macquarie On HDFC

  • Maintained ‘Outperform’ with price target of Rs 2,305
  • March quarter’s net profit was inline with estimates adjusted for one-offs.
  • HDFC going down the market chain to deliver growth.
  • Catalyst: HDFC AMC IPO and increase in stake in HDFC Bank.
  • Return of AUM growth could only drive core-book value re-rating.

Credit Suisse On HDFC

  • Maintained ‘Outperform’ with a price target of Rs 2,250.
  • March quarter results were inline on the back of healthy assets under management and strong loan growth.
  • Retail loan growth picking up; Core profitability remains strong.
  • Steady AUM growth; stable spreads.
  • Asset quality trends remained benign.

HSBC On Hindustan Zinc

  • Maintained ‘Buy’; hiked price target to Rs 390 from Rs 370.
  • Operating income during March quarter was broadly in-line.
  • Tightening Zinc market and rising silver output support robust outlook.
  • Raise operating income estimates for the current and the next financial year to factor in higher silver guidance and weak Indian rupee.

Investec On Hindustan Zinc

  • Maintained ‘Buy’; cut price target to Rs 409 from Rs 413.
  • March quarter’s operating income was in-line; volume guidance increased till March 2020.
  • No final dividend was a disappointment.
  • Expect strong volume growth, lower cost and ramp-up in silver production.
  • Silver business to surprise and drive re-rating.

CLSA On Tata Motors

  • Maintained ‘Sell’ with a price target of Rs 330.
  • JLR’s German peers are raising their R&D spends to decade highs.
  • JLR needs to invest rapidly to keep pace with peers.
  • Investment pressures coming in weak demand and product cycle.
  • Cashflows to remain weak even in the current and the next financial year.

Credit Suisse on Indian packaged food sector

  • Branded foods market to grow 5 times to $200 billion in next ten years
  • Catalysts in place to drive sustained inflection in packaged foods
  • Affordability of packaged foods has improved significantly
  • Nestle and Britannia equally well placed
  • Nestle: Maintain ‘outperform’; Target price hiked to Rs 10,500 from Rs 9,600
  • Britannia: Maintain ‘outperform’; Target price hiked to Rs 5,850 from Rs 5,550
  • GSK Consumer: Maintain ‘outperform’ with target price of Rs 7,100

BQ Heads Up!

Stocks To Watch

  • IHH raises Fortis Healthcare bid to Rs 175 per share.
  • Munjals-Burmans increase Fortis offer to Rs 1,800 crore.
  • M&M to acquire up to 10 percent equity in Canada's Resson Aerospace Corp for about Rs 34.5 crore.
  • Max, Exide Life shortlisted for IDBI Federal Life Insurance stake sale; valuation likely to be over Rs 6,000 crore: Economic Times.
  • L&T will sell electrical and automation division to Schneider for Rs 14,000 crore.
  • BHEL gets 900 MW Nepal Hydropower project orders.
  • Mahindra Lifespaces joint venture gets multi-product notification for its special economic zones.
  • Lakshmi Vilas Bank sets one-year MCLR at 9.45 percent from May 1.
  • Mastek wins contract for U.K. Home Office Biometrics.
  • Maithan Alloys to set up 1.2 lakh tonne per annum ferro alloy plant in West Bengal.
  • Grasim Industries partially commissioned its expanded Vilayat facility.
  • MOIL says Ferro grade & fines prices have been reduced by 15 percent in Q1. 5 percent discount on 4 specific grade and prices of chemical grades of ore decreased by 7.5 percent.
  • Sudhir Valia to infuse Rs 3,510 crore into Jaypee Infra projects in Noida: Financial Express.

April Auto Sales Snapshot

  • Maruti Suzuki total sales at 1,72,986 units (BQ estimate at 1,67,500 units)
  • M&M total sales at 48,097 units (BQ estimate at 48,000 units)
  • M&M total tractor sales at 30,925 units
  • Eicher Royal Enfield sales at 76,187 Units (BQ estimate at 76,000 units)
  • Tata Motors domestic sales at 53,511 units (BQ estimate at 52,500 units)
  • Escorts total sales up 26.3 percent at 6,186 units versus 4,899 units
  • TVS Motor total sales up 24 percent at 3,04,795 units versus 2,46,310 units (BQ estimate at 3,05,000 units)

Also Read: April Auto Sales: Automakers Start FY19 On A High

Nifty Earnings To Watch

  • HCL Technologies
  • Hero MotoCorp

Others

  • Ajanta Pharma
  • Astec Lifesciences
  • Century Textiles & Industries
  • HT Media
  • Interglobe Aviation
  • International Paper APPM
  • JM Financial
  • Kansai Nerolac Paints
  • Marico
  • Siemens
  • Tata Power
  • Welspun Corp

Earnings Reaction To Watch

Hindustan Zinc Q4 YoY

  • Revenue flat at Rs 6,277 crore
  • Net profit down 18 percent at Rs 2,505 crore versus Rs 3,057 crore
  • EBITDA down 3 percent at Rs 3,620 crore versus Rs 3,743 crore
  • Margins at 57.7 percent versus 59.8 percent

CEAT Q4 YoY

  • Revenues up 14 percent at Rs 1,674 crore versus Rs 1,471.5 crore
  • Net profit up 17 percent at Rs 77 crore versus Rs 66 crore
  • EBITDA up 50 percent at Rs 198 crore versus Rs 132 crore
  • Margins at 11.8 percent versus 9 percent

Alicon Castalloy Q4 YoY

  • Revenues up 43 percent at Rs 298 crore versus Rs 208 crore
  • Net profit up 62.5 percent at Rs 13 crore versus Rs 8 crore
  • EBITDA up 45 percent at Rs 37 crore versus Rs 25.5 crore
  • Margins at 12.4 percent versus 12.3 percent

KPR Mills Q4 YoY

  • Revenues up 5 percent at Rs 820.5 crore versus Rs 783 crore
  • Net profit up 1 percent at Rs 73 crore versus Rs 72 crore
  • EBITDA up 7.5 percent at Rs 150.5 crore versus Rs 140 crore
  • Margins at 18.3 percent versus 17.9 percent

Container Corp Q4 YoY

  • Revenue up 2 percent to Rs 1,641 crore versus Rs 1,606 crore
  • EBITDA down 14 percent to Rs 428.5 crore versus Rs 497 crore
  • EBITDA margin at 26.1 percent versus 30.9 percent
  • Net profit down 12.5 percent to Rs 294 crore versus Rs 336 crore
  • Board declared dividend of Rs 7.5 per share
  • Recommends stock split in ratio 1:2

F&O Cues

  • Nifty May Futures closed trading at 10,780.3 with a premium of 41 points versus 31.8 points
  • May series-Nifty open interest (OI) up 2 percent, Bank Nifty OI down 3 percent
  • India VIX ended at 12.36, up 2.8 percent
  • Max OI for May series call at 11,000 strike price call option, OI at 56.8 lakh shares, up 11 percent
  • Max OI for May series put at 10,500 strike price put option, OI at 37.5 lakh shares

Trading Tweaks

  • Lasa Supergenerics circuit filter revised to 10 percent
  • Bhushan Steel circuit filter revised to 5 percent
  • 5Paisa Capital, Kingfa Science & Technology (India), Vimta Labs out of T group.
  • MMTC last trading day before going ex-bonus

Talking Points

Good Morning!

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India fell 0.1 percent to 10,753 as of 7:30 a.m.

Asian stocks were mixed as trading resumed in several key markets after holidays, while the dollar steadied close to a near four-month high. Positive results from Apple Inc. boosted Nasdaq futures.

Equities in Japan dipped at the open while those in Australia advanced. Technology shares were mixed even as revenue and profit at the iPhone maker beat analysts’ estimates, lifting its shares in post-market U.S. trading.

These are some key events to watch this week:

  • The Federal Open Market Committee ends its two-day meeting Wednesday.
  • Payroll gains in the U.S. probably picked up in April, with the unemployment rate forecast to drop to 4 percent, according to surveys of economists.
  • Earnings season continues with HSBC Holdings Inc. and Tesla Inc.

Bonds

  • The yield on 10-year Treasuries fell less than one basis point to 2.96 percent.
  • Japan’s 10-year yield fell less than one basis point to 0.039 percent.
  • Australia’s 10-year yield rose one basis point to 2.765 percent.

Commodities

  • West Texas Intermediate crude rose 0.3 percent to $67.43 a barrel.
  • Gold rose 0.3 percent to $1,307.13 an ounce.
  • LME copper gained 0.7 percent to $6,790.00 per metric ton.
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