All You Need To Know Going Into Trade On April 28
Asian stocks opened on a cautious note Wednesday as investors considered a renewed rise in Treasury yields, a jump in commodity prices and a raft of earnings from U.S. technology heavyweights.
Shares posted modest gains in Japan but slipped in South Korea. U.S. contracts were steady after the Nasdaq 100 dropped for the first time in three sessions amid declines in heavyweights such as Tesla Inc.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 14,659, as of 7 a.m.
The S&P 500 closed little changed after swinging between gains and losses. Bonds weakened, with 10-year Treasury yields advancing back above 1.6% as investors await the Federal Reserve’s policy decision.
A market gauge of inflation expectations over the next decade hit an eight-year high amid the rally in commodities. Oil climbed after OPEC+ projected a strong recovery beyond the near-term setbacks to demand from India’s Covid-19 surge.
Stocks To Watch
- Info Edge (India): Zomato Ltd. has proposed an initial public offering comprising the sale of new shares and an offer for sale by Info Edge (India). The board of Info Edge has approved participating in the OFS aggregating up to Rs 7,500 million (Rs 750 crore); details to be specified in Zomato prospectus.
- Lupin: Ligand, Lupin settle patent suit on Evomela cancer drug
- Future Lifestyle Fashions: Board has approved a resolution plan to restructure the existing secured financial debt from the bankers of the company. The debt raised through the company's NCDs under Series IV is also part of the existing debt and is proposed to be restructured.
- Bank Of India: Board to meet on April 30 to consider a proposal to raise capital by way of a further issue of equity shares and BASEL III Compliant Additional Tier-1, Tier-II bonds.
- Nifty Earning: Bajaj Finserv
- Non-Nifty Earnings: Biocon, Bombay Dyeing & Manufacturing Co, Carborundum Universal, Chennai Petroleum Corporation, GHCL, Hathway Cable & Datacom, KPIT Technologies, KPR Mill, KSB, Maharashtra Scooters, Mastek, Shree Digvijay Cement Co, SIS, Sundaram-Clayton, Tata Communications, UTI Asset Management Company
Earnings Post Market Hours
Axis Bank Q4FY21
- Net Profit at Rs 2,677 crore Vs Net loss of Rs 1,388 crore (Bloomberg Estimate: Rs 1,912 crore)
- NII up 11% Rs 7,555 crore Vs Rs 6,808 crore (Bloomberg Estimate: Rs 7,011 crore)
- GNPA at 3.7% Vs 4.55% (QoQ)
- NNPA at 1.5% Vs 1.19% (QoQ)
- Restructured loans worth Rs 844.6 crore under a one-time restructuring scheme of the RBI
- Fresh slippages at Rs 5,285 crore
- Recoveries and upgrades at Rs 3,642 crore
- Write-offs at Rs 5,553 crore
- Provision coverage ratio (including write-offs) at 88%
Bajaj Finance Q4FY21 (Consolidated, YoY)
- Net profit up 42% at Rs 1,346.64 crore Vs Rs 948 crore
- Revenue down 5.2% at Rs 6,850.62 crore Vs Rs 7,226.55 crore
- NII down 2.4% at Rs 4,569 crore Vs Rs 4,684 crore
- GNPA at 1.79% vs 2.86% (QoQ)
- NNPA at 0.75% vs 1.22% (QoQ)
- AUM up 3.9% at Rs 1,52,947 crore Vs Rs 1,47,200 crore
Britannia Industries Q4FY21 (Consolidated, YoY)
- Revenues up 9% at Rs 3,130.75 crore Vs Rs 2,867.70 crore (Bloomberg Estimate: Rs 3,109.2 crore)
- Net profit down 3% at Rs 364.32 crore Vs Rs 374.75 crore (Bloomberg Estimate: Rs 416.9 crore)
- Ebitda up 11% at Rs 505.39 crore Vs Rs 454.28 crore (Bloomberg Estimate: Rs 564.8 crore)
- Margins at 16.1% Vs 15.8% (Bloomberg Estimate: 18.16%)
United Breweries Q4FY21 (Consolidated, YoY)
- Revenue up 17% at Rs 3,618.09 crore Vs Rs 3,099.91 crore
- Net profit up 133% at Rs 97.53 crore Vs Rs 41.82 crore
- Ebitda up 97% at Rs 262.30 crore Vs Rs 133.02 crore
- Ebitda Margins at 7.2% Vs 4.3%
- Q4 volumes up 9%
- Gross margin during the quarter were higher by 109 basis points on account of higher revenues due to price increases and better state-mix.
- Has recommended a dividend of 50 paise per share for FY21
TVS Motor Q4FY21 (Standalone, YoY)
- Revenue up 53% at Rs 5,321.93 crore Vs Rs 3,481.42 crore
- Net profit at Rs 289.24 crore Vs Rs 73.87 crore
- Ebitda up 119% at Rs 536.11 crore Vs Rs 244.85 crore
- Ebitda margin at 10.1% Vs 7%
Nippon India Life AMC Q4FY21 (Consolidated, YoY)
- Revenue up 10% at Rs 301.90 crore Vs Rs 274.50 crore
- Net profit at Rs 166.77 crore Vs Rs 3.72 crore
- Assets under management at Rs 3.55 lakh crore
- Share of equity assets as % of AUM rose to 40.6% from 39.1 (QoQ)
- Has recommended a final dividend of Rs 5 per share
HDFC AMC Q4FY21 (YoY)
- Revenue up 6% at Rs 502.93 crore Vs Rs 476.13 crore
- Net profit up 27% at Rs 316.08 crore Vs Rs 249.83 crore
- Quarterly Average AUM up 12% at Rs 4.15 lakh crore Vs Rs 3.69 lakh crore
- Number of live individual accounts down 5% at 8.86 million Vs 9.34 million
- Has recommended a dividend of Rs 34 per share for FY21
Pledge Share Details
- Emami: Promoter Sneha Gardens revoked pledge of 25.90 lakh shares on April 23.
- Kesoram Industries: Promoter Manav Investment & Trading Company revoked pledge of 43.19 lakh shares on April 23.
- Mangalore Chemicals & Fertilizers: Promoter Zuari Agro Chemicals created a pledge of 10.25 lakh shares between April 23-26.
As reported on April 27.
- Jammu & Kashmir Bank: East Bridge Capital Master Fund I sold 70 lakh shares (0.98%) at Rs 23.67 per share.
- Lux Industries: Nippon India Mutual Fund bought 2.50 lakh shares (0.99%) at Rs 1,875 per share.
- Hathway Cable & Datacom: Government of Singapore Investment Corporation Pte bought 1.60 crore shares (0.91%) at Rs 22.22 per share.
- Federal-Mogul Goetze (India): GDN Investments sold 4 lakh shares (0.72%) at Rs 281.25 per share.
- Record Date Interim Dividend: Easy Trip Planners, Zuari Global
- Record Date Bonus Issue: Waa Solar
- Price Band Revised From 20% To 10%: Alkyl Amines Chemicals, Gulshan Polyols, Vimta Labs
- Move Into ASM Framework: Digispice Technologies, Kanoria Chemicals & Industries, Dynemic Products, Kajaria Ceramics, Mahindra Lifespace Developers, TIPS Industries
- Move Into Short-Term ASM Framework: Hikal, Aarti Surfactants, AstraZeneca Pharma India
- Move Out Of Short-Term ASM Framework: Vidhi Specialty Food Ingredients, Bliss GVS Pharma
Money Market Update
- The rupee ended at 74.66 against the U.S. dollar on Tuesday as compared to Monday's closing of 74.73.
- Most dollar/Asia non-deliverable forwards climbed as Treasury yields rose, sending the greenback higher; Indian rupee forwards defied Asian peers amid aid pledges from world leaders on vaccine and raw materials.
- Nifty April futures ended at 14,645.05; discount of 8 points.
- Nifty April futures shed 11.54% and 14,645 shares in Open Interest
- Nifty Bank April futures ended at 32,767; premium of 31.65 points
- Nifty Bank April futures shed 5.82% and 4,088 shares in Open Interest
- Securities that continue to be on the ban list: SAIL
- Securities out of the ban list: Sun TV and Indiabulls Housing Finance.