All You Need To Know Going Into Trade On May 18
Asian stocks opened firmer Tuesday as investors weighed a pick-up in virus cases in the region against the pace of economic growth as economies reopen. U.S. futures rose.
Benchmarks climbed in Japan, Australia and South Korea. Nasdaq 100 futures outperformed. Earlier, technology and communication services stocks led the benchmark S&P 500 lower, while energy shares rose.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 1% to 15,109 as of 7:30 a.m.
Oil held an advance to a two-year high as rising optimism around a demand recovery in regions such as the U.S. offset Covid-19 flare-ups in parts of Asia.
Bitcoin fluctuated following a volatile weekend that saw comments from Tesla Inc.’s Elon Musk whipsaw prices. Coinbase Global Inc. fell to a record low and below the reference price used in its April direct listing. Gold traded near its highest in almost four months.
Meanwhile, Hong Kong added Singapore to its list of high-risk nations as cases rose in the city-state, with the highly transmissible strain of Covid-19 that surfaced in India becoming more prominent among the growing number of unlinked cases.
Stocks To Watch
- Bharat Forge: To purchase a 49% stake in its subsidiary, Kalyani Strategic Systems, for Rs 32.97 crore. Currently, the company holds a 51% stake in KSSL. After this acquisition, KSSL shall become a wholly-owned subsidiary of the company.
- HCL Technologies: Announced expansion of investment in the United Kingdom with the hiring of 1000 technology professionals to support its clients in the U.K. and around the world.
- Zuari Agro Chemicals: Company said its Goa fertiliser plant has been hit by the cyclonic storm Tauktae. It is assessing damages by the cyclone to the plant. There could be a potential delay in restarting ammonia, urea plants.
- Apollo Tyres: Company says the Perambra plant in Kerala will be closed till May 23 in view of the local restrictions due to Covid-19.
- Union Bank of India: Board approved raising up to Rs 1,750 crore through a qualified institutional placement at a floor price of Rs 35.6 per share. The share sale was authorised to open on May 17.
- Kotak Mahindra Bank: Acquired 1.3 crore equity shares, representing 46.7% of the issued and paid-up equity share capital of Kotak Mahindra Pension Fund Limited from Kotak Mahindra Asset Management Company Limited for Rs 12.71 crore. After this acquisition, the bank's shareholding in KMPFL will increase from 4.3% to 51%. Also, KMPFL has now become a direct subsidiary of the bank.
- Garden Reach Shipbuilders And Engineers: Suspended operations at all units in West Bengal till May 30 to comply with state Covid order.
- Strides Pharma Sciences: Promoter pledge reduced by 38%. Currently, the overall promoter group pledge stands at 25.98% of the promoter holding and 7.71% of the paid-up capital of the company as compared to 41.96% of the promoter holding and 12.45% of the paid-up capital as of May 7.
- Hemisphere Properties India: Board has allotted 10 crore Non-Cumulative Redeemable Preference Shares of Rs 10 each at par aggregating to Rs 100 crore on a private placement basis to the Promoter President of India.
- Skipper: To keep its offices and manufacturing units in West Bengal shut till May 30 to comply with state Covid order.
- Nifty Earnings: Tata Motors
- Non-Nifty Earnings: Aarti Industries, Abbott India, Astral, Brigade Enterprises, Canara Bank, Chalet Hotels, GlaxoSmithKline Pharmaceuticals, Gujarat Alkalies & Chemicals, Jyothy Labs, Manappuram Finance, Minda Corp, PI Industries, Torrent Pharmaceuticals.
- Krsnaa Diagnostics Seeks Sebi Approval for IPO
Earnings Post Market Hours
Bharti Airtel Q4FY21 (Consolidated, QoQ)
- Revenues down 2.9% at Rs 25,747.3 crore Vs Rs 26,517.8 crore (BBG Estimate: Rs 26,165 crore)
- Net profit down 11.1% at Rs 759.2 crore Vs Rs 853.6 crore (BBG Estimate: Rs 958.8 crore)
- Ebitda up 2.3% at Rs Rs 12,331.9 crore Vs Rs 12,053 crore (BBG Estimate: Rs 12,626 crore)
- Ebitda margin at 47.9% Vs 45.5% (BBG Estimate: 48.3%)
- Overall customer base stands at 471 million across 16 countries
- Total Capex spend for the quarter of Rs 6,846 crore
Gland Pharma Q4FY21 (Consolidated, QoQ)
- Revenue up 3% at Rs 887.70 crore Vs Rs 859.40 crore
- Net profit up 28% at Rs 260.40 crore Vs Rs 204.10 crore
- Ebitda up 24% at Rs 327.60 crore Vs Rs 264.10 crore
- Ebitda margin at 36.9% Vs 30.7%
Gujarat Narmada Valley Fertilizers & Chemicals Q4FY21 (QoQ)
- Revenue up 15% at Rs 1,733.03 crore Vs Rs 1,508.24 crore
- Net profit up 29% at Rs 308.91 crore Vs Rs 240.12 crore
- Ebitda up 30% at Rs 470.41 crore Vs Rs 362.95 crore
- Ebitda margin at 27.1% Vs 24.1%
- Recommended a dividend of Rs 8 per share for FY21
Orient Cement Q4FY21 (QoQ)
- Revenue up 38% at Rs 831.61 crore Vs Rs 604.61 crore
- Net profit up 85% at Rs 99.87 crore Vs Rs 53.88 crore
- Ebitda up 48% at Rs 202.52 crore Vs Rs 136.68 crore
- Ebitda margin at 24.4% Vs 22.6%
- Recommended a final dividend of Rs 1.50 per share
Who’s Meeting Whom
- Indian Energy Exchange: To meet DSP Mutual Fund and JK Capital Management on May 18.
- Infibeam Avenues: To meet Motilal Oswal Fintech on May 21.
- INOX Leisure: To meet VEC investments on May 19.
- Panacea Biotech: Adar Cyrus Poonawalla sold 31.57 lakh shares (5.15%) at Rs 373.85 to Serum Institute of India Pvt. Ltd.
- PVR: BofA Securities Europe SA bought 3.49 lakh shares (0.57%) at Rs 1,169.2 apiece.
- Ex-Date Interim Dividend: Coforge, Caplin Point Laboratories, Sundram Fasteners
- Ex-Date Final Dividend: Visaka Industries
- Ex-Date Amalgamation And Spin Off: Meghmani Organics
- Record Date Interim Dividend: Oracle Financial Services Software
- Price Band Revised From 20% To 10%: Best Agrolife, Venky's (India)
- Move Into Short-Term ASM Framework: Nxtdigital, Sanghvi Movers, NACL Industries, Nath Bio-Genes (India), Centrum Capital
- Move Out Of Short-Term ASM Framework: Best Agrolife, Great Eastern Shipping Company, MPS, Nureca
- Move Into ASM Framework: Nureca, Great Eastern Shipping Company
Pledge Share Details
- Ajanta Pharma: Promoter Aayush Agrawal revoked pledge of 1.30 lakh shares on May 11.
- Cigniti Technologies: Promoter C Rajeswari created a pledge of 10 lakh shares on May 12.
As reported on May 17.
- Godrej Agrovet: Promoter Godrej Industries bought 49,172 shares on May 11.
Money Market Update
The rupee ended at 73.21 against the U.S. Dollar on Monday as compared to Friday's closing of 73.28.
- Nifty May futures ended at 14,955.40; premium of 32.25 points.
- Nifty May futures added 0.96% and 1,429 shares in Open Interest
- Nifty Bank May futures ended at 33,580; premium of 120.75 points
- Nifty Bank May futures added 16.40% and 9,761 shares in Open Interest
- Securities that continue to be on the ban list: BHEL, Cadila Healthcare, Canara Bank, PNB, SAIL and Sun TV