All You Need To Know Going Into Trade On May 10
Asian stocks and U.S. equity futures gained Monday after the S&P 500 hit a record on weak jobs data that added to the case for ongoing stimulus.
Shares advanced in Japan, Australia and South Korea. Gasoline jumped as much as 4.2% before paring some of the increase, with U.S. operator Colonial Pipeline providing no timeline for a restart following a shutdown late Friday due to a ransomware attack.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.8% to 14,990 as of 7:05 a.m.
Iron ore futures in Singapore surged on strong demand from China.
The dollar held losses after tumbling Friday, while the pound was the top performer among the Group of 10 currencies.
Earnings Post Market Hours
Ultratech Cement Q4FY21 (Consolidated, QoQ)
- Revenues up 17.5% at Rs 14,405.6 crore Vs Rs 12,262 crore (Bloomberg Estimate: Rs 13,460.2 crore)
- Net profit up 12% at Rs 1,775.23 crore Vs Rs 1,584.3 crore (Estimate: Rs 1,644.9 crore)
- Ebitda up 18.9% at Rs 3,690.4 crore Vs Rs 3,102.2 crore (Estimate: Rs 3,152.1 crore)
- Ebitda margins at 25.6% Vs 25.3%
- Reduced net debt/Ebitda ratio to 0.55x from 1.72x as on March 31, 2020
- Recommended dividend of Rs 37 per share
- To create additional capacity in markets of the east, central and north
- Board earlier sanctioned capacity expansion plans of 19.5 MT via mix of brownfield and greenfield expansions
Bandhan Bank Q4FY21 (YoY)
- Net profit down 80% at Rs 103.03 crore (Bloomberg Estimate: Rs 947 crore)
- Net interest income up 4.6% Rs 1,757 crore. (Estimate: Rs 2,094 crore)
- Provisions surged 93% to Rs 1,594.3 crore
- Gross NPA at 6.81% vs 7.1% (proforma) in December quarter
- Bank wrote-off Rs 1,926 crore, without which NPAs ratios would have been higher
Avenue Supermarts Q4FY21 (Standalone, QoQ)
- Revenue down 2% at Rs 7,303 crore (Bloomberg estimate: Rs 7,237 crore)
- Net profit down 8% at Rs 434.95 crore (Estimate: Rs 371.6 crore)
- EBITDA down 11% at Rs 616.61 crore (Estimate: Rs 556.9 crore)
- Margin at 8.4% Vs 9.3% (Estimate: 7.7%)
- Company says more than 80% stores impacted by Covid restrictions
Kansai Nerolac Q4FY21 (Consolidated, QoQ)
- Revenues down 8% at Rs 1,459.57 crore Vs Rs 1,592.55 crore
- Net profit down 39% at Rs 124.28 crore Vs Rs 204.79 crore
- Ebitda down 30% at Rs 213.45 crore Vs Rs 304.44 crore
- Ebitda margins at 14.62% Vs 19.1%
- Recommended a final dividend of Rs 4 per share for FY21
Great Eastern Shipping Q4FY21 (Consolidated, QoQ)
- Revenues down 2% at Rs 739.95 crore Vs Rs 753.24 crore
- Net profit down 49% at Rs 49.01 crore Vs Rs 176.33 crore
- Ebitda down 28% at Rs 233.47 crore Vs Rs 324.91 crore
- Margins at 31.6% Vs 43.1%
- Recommended final dividend of Rs 9 per share for FY21
- Approved the issue of NCDs upto an amount not exceeding Rs 1,000 crore by way of private placement
Navin Fluorine International Q4FY21 (Consolidated, QoQ)
- Revenue up 9% at Rs 336.42 crore Vs Rs 309.09 crore
- PAT up 30% at Rs 73.22 crore Vs Rs 56.44 crore
- Ebitda up 6% at Rs 84.24 crore Vs Rs 79.18 crore
- Ebitda margins at 25.04% Vs 25.63%
- Recommended final dividend of Rs 6 per share.
Cholamandalam Investment and Finance Company Q4FY21 (Consolidated, YoY)
- NII up 32% at Rs 1,359.82 crore Vs Rs 1,029.99 crore
- Net profit up 4.77x at Rs 245.13 crore Vs Rs 42.45 crore
- Total AUM up 14% at Rs 76,529 crore Vs Rs 66,943 crore
- Additional Covid Provision of Rs 350 crore created in Q4. Total Covid provision created in FY21 at Rs 566 crore. Total Covid provision as of March 31 at Rs 1,100 crore
- Aggregate disbursements up 43% at Rs 8,071 crore Vs Rs 5,663 crore
- Recommended issue of secured and unsecured NCDs of up to Rs 30,000 crore by way of a private placement, in one or more tranches.
- Recommended final dividend of 70 paise per share
Godrej Agrovet Q4FY21 (Consolidated, QoQ)
- Revenue down 4% at Rs 1,462.48 crore Vs Rs 1,526.15 crore
- Net profit down 8% at Rs 56.59 crore Vs Rs 61.60 crore
- Ebitda flat at Rs 112.24 crore Vs Rs 112.43 crore
- Ebitda margins at 7.7% Vs 7.4%
- Recommended final dividend Rs 8 per share for FY21
Stocks To Watch
- Hero MotoCorp: To extend the shutdown at its manufacturing facilities across India, global parts centre and R&D facility in Jaipur till May 16. This is the third extension of the shutdown by Hero MotoCorp.
- Maruti Suzuki India: Has extended the maintenance shutdown till May 16, keeping in view the current pandemic situation.
- HPCL: Has issued unsecured, non-convertible, non-cumulative, taxable debentures of Rs 10 lakh each aggregating to Rs 1,950 crore on a private placement basis to fund capital expenditure. The coupon rate has been fixed at 6.63% per annum.
- InterGlobe Aviation: Board has decided that the company should continue to explore all options to increase its liquidity, including by way of a QIP.
- SBI: IRDAI has imposed a penalty of Rs 30 lakh on SBI General lnsurance Company due to non-compliance in minimum obligations under motor third-party business. The penalty has been imposed for violation of Section 32D of lnsurance Act, 1938.
- Tata Power: Board to consider issuing NCDs, bonds and other debt securities on a private placement basis on May 12.
- Everest Industries: Has appointed Pramod Nair as Chief Financial Officer with effect from May 11.
- Gati: Board has approved issuance of up to 10.23 lakh shares at a price of Rs 97.75 per share aggregating up to Rs 10 crore and up to 71.61 lakh warrants at a price of Rs 97.75 per warrants aggregating up to Rs 69.99 crore to Allcargo Logistics, the promoter of the company on preferential issue basis.
- Earnings to watch: Chambal Fertilizers & Chemicals, HFCL Ltd., HSIL Ltd., Intellect Design Arena, JMC Projects, PPAP Automotive, Venky’s India Ltd., Zydus Wellness Ltd.
- Fincare Small Finance Bank files DRHP, seeks to raise up to Rs 1,330 crore in IPO
- Dabur India cut to Hold at Prabhudas Lilladher; cut to Hold at IDBI Capital Market; price target Rs 526
- HDFC raised to Buy at IDBI Capital Market; price target 2,950 rupees
- Hero MotoCorp raised to Accumulate at Dolat Capital
- SBI Life raised to Buy at KR Choksey; price target Rs 1,200
- SRF cut to Hold at Systematix Shares & Stocks; price target Rs 6,414
- India Ratings: Darling Digital cut; Highway Industries raised
Pledge Share Details
- Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked pledge of 7.50 lakh shares on May 5.
As reported on May 7.
- SBI Life Insurance Company: CA Emerald Investments sold 4.10 crore shares (4.10%) at Rs 960 per share.
- Filatex India: Penguin Trading & Agencies bought 30.06 lakh shares (1.36%) at Rs 92.84 per share.
- NCC: Promoter Sirisha Projects bought 18.13 lakh shares between March 2-4. Promoters (ASN Raju, Alluri Raju and AAV Raju) sold 18.13 lakh shares between March 2-4.
Who's Meeting Whom
- Inflbeam Avenues: To meet Napean Capital on May 10.
- Record Date Stock Split: Vaibhav Global
- Price Band Revised From 20% To 10%: Apcotex Industries, Bajaj Hindusthan Sugar
- Move Into Short-Term ASM Framework: Dish TV India, R Systems International, Nureca
- Move Out Of Short-Term ASM Framework: Bharat Rasayan, Ashapura Minechem
- Move Into ASM Framework: Praj Industries
- Move Out Of ASM Framework: Sterlite Technologies, HFCL, HLE Glascoat
Money Market Update
- The rupee ended at 73.51 against the U.S. Dollar on Friday as compared to Thursday's closing of 73.77.
- Nifty May futures ended at 14,860; premium of 55.65 points.
- Nifty May futures shed 0.02% and 33 shares in Open Interest
- Nifty Bank May futures ended at 33,005.05; premium of 100.55 points
- Nifty Bank May futures added 2.04% and 1,145 shares in Open Interest
- Securities that continue to be on the ban list: Sun TV, Tata Chemicals and BHEL.
- Securities added to the ban list: NALCO.