All You Need To Know Going Into Trade On April 29
Asian stocks were steady Thursday after robust earnings from technology heavyweights and ahead of U.S. President Biden’s first speech to Congress.
The dollar slid further after the Federal Reserve signalled it’s not ready to consider scaling back policy support. Australia’s benchmark edged up. South Korea erased an earlier gain, with Samsung Electronics Co. dragging on the index despite first-quarter profit topping estimates.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 14,907.50, as of 7 a.m. Nasdaq 100 futures outperformed after Apple Inc. crushed revenue estimates and Facebook Inc. reported gains in sales and users.
Earlier, key U.S. stock benchmarks ended lower, with the S&P 500 Index failing to hold gains on Fed Chair Jerome Powell’s assertion that asset purchases aren’t about to be trimmed.
Elsewhere, crude oil was stable after gaining on a confident demand outlook from OPEC+, despite the threat from India’s Covid-19 crisis.
Stocks To Watch
- Adani Enterprises: Board to meet on May 5 to consider renewing enabling limit for raising funds by issue of equity shares, convertible bonds through QIP, GDR, ADR, FCCBs, FCEBs, convertible securities.
- Affle (India): Board has approved the opening of QIP of equity shares of face value of Rs 10 each from April 28. The floor price for the issue is Rs 5,422.94 per equity share. Further, a meeting of the Fund Raising Committee will be held on or after May 4 to consider and approve the issue price.
- Dishman Carbogen Amcis: The company’s wholly-owned subsidiary, Carbogen Amcis AG., Switzerland has entered into a co-investment agreement of more than CHF 15 million with a Japan-based key client to build a site extension at its Bubendorf site in Switzerland.
- Indiamart Intermesh: The company through its wholly-owned subsidiary, Tradezeal Online, will acquire 26% of the share capital of Shipway Technology, and 3.02% of the share capital of Truckhall in addition to 22% of the share capital already held by it. The wholly-owned subsidiary will acquire 100 shares and 4,088 Compulsorily Convertible Preference Shares of Shipway Technology at Rs 18.20 crore and will purchase 1,779 shares of Truckhall for Rs 1.33 crore.
- ONGC: Intends to invite foreign companies as strategic partners to explore new areas, and develop discovered fields in India. The company is aggressively pursuing deepwater, shallow water projects on the east and west coast, despite uneconomical gas prices. It plans to acquire much larger acreage through new auction rounds. ONGC has formed separate gas vertical to increase activities in the gas sector and is also augmenting its renewable portfolio. The company wants to concentrate on areas where the expected risk-reward payoff offers better business opportunities for growth. Further, the ONGC Videsh consortium has put the LNG project in Mozambique on hold due to force majeure.
- RattanIndia: To invest Rs 150 crore in electric vehicle maker Revolt Intellicorp. The company has acquired a 33.3% stake in Revolt and will see its stake increasing to 43% after the conversion of warrants. Revolt, which makes electric motorcycles, will deploy the capital to expand the distributor and service network across 35 cities in India. As part of the deal, RattanIndia will have a 50% board presence in Revolt Intellicorp; its Chairman Rajiv Rattan will be the chairman of the board of Revolt. The deal is likely to be completed in 18 months.
- Nifty Earnings: Bajaj Auto, Hindustan Unilever, Titan Company
- Non-Nifty Earnings: Ambuja Cements, Zensar Technologies, AAVAS Financiers, Aptech, Agro Tech Foods, AU Small Finance Bank, Bajaj Holdings & Investment, Cigniti Technologies, Coromandel International, Dalmia Bharat, Embassy Office Parks REIT, Equitas Small Finance Bank, Exide Industries, Indiamart Intermesh, Inox Leisure, Kirloskar Pneumatic Co, L&T Finance Holdings, Laurus Labs, Mahindra CIE Automotive, Mahindra Logistics, Motilal Oswal Financial Services, Persistent Systems, Rain Industries, Shriram Transport Finance Co, Sterlite Technologies, Tata Coffee
- PowerGrid InvIT IPO at Rs 99-100 per unit opens for sale; closes May 3
Earnings Post Market Hours
Tata Communications Q4FY21 (Consolidated, YoY)
- Revenue down 7% Rs 4,073.25 crore vs Rs 4,397.89 crore
- Net profit at Rs 299.23 crore vs net loss of Rs 274.99 crore
- Ebitda up 17% at Rs 1,015.19 crore vs Rs 868.84 crore
- Ebitda margins at 24.9% vs 19.8%
- Recommended a dividend of Rs 14 per share for FY21
Hathway Cable & Datacom (Consolidated, YoY)
- Net profit up 47% at Rs 72.14 crore vs Rs 49.08 crore
- Revenue down 4% to Rs 438.71 crore vs Rs 455.68 crore
- Ebitda down 6% at Rs 113.52 crore vs Rs 120.33 crore
- Ebitda margin at 25.9% vs 26.4%
GHCL Q4FY21 (Consolidated, YoY)
- Revenue up 10% at Rs 826.33 crore vs Rs 750.07 crore
- Net profit up 31% at Rs 111.14 crore vs Rs 84.86 crore
- Ebitda up 25% at Rs 194.85 crore vs Rs 155.96 crore
- Ebitda margins at 23.6% vs 20.8%
- Recommended dividend of Rs 5.50 per share for FY21
Pledge Share Details
- Max Financial Services: Promoter Max Ventures Investment Holdings revoked pledge of 51,250 shares on April 22.
As reported on April 28.
- EPL: Smallcap World Fund Inc sold 31.36 lakh shares (0.99%) at Rs 221.51 per share and sold another 31 lakh shares (0.98%) at Rs 221.50 per share.
- Heritage Foods: Unifi Capital sold 4.33 lakh shares (0.93%) at Rs 367.48 per share.
- Ex-Date Final Dividend And Interim Dividend: Nestle India
- Ex-Date Interim Dividend And Special Dividend: HCL Technologies
- Ex-Date Interim Dividend: Angel Broking
- Price Band Revised From 20% To 10%: Hikal
- Move Into ASM Framework: Balaji Amines, Arvind
- Move Into Short-Term ASM Framework: Macrotech Developers, Panacea Biotec, Lemon Tree Hotels, Everest Kanto Cylinder, Jay Bharat Maruti, Oriental Aromatics
- Move Out Of Short-Term ASM Framework: Tamilnadu PetroProducts, 5Paisa Capital
Money Market Update
- The rupee ended at 74.36 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 74.66.
- Nifty April futures ended at 14,846.45; discount of 18.1 points.
- Nifty April futures shed 16.64% and 18,666 shares in Open Interest
- Nifty Bank April futures ended at 33,669.95; discount of 52.85 points
- Nifty Bank April futures shed 28.91% and 19,106 shares in Open Interest
- Securities that continue to be on the ban list: SAIL