All You Need To Know Going Into Trade On May 24
Asian stocks and U.S. equity futures made a steady start early Monday as traders weighed the volatile slump in cryptocurrencies and the inflation outlook.
Shares edged higher in Japan but fluctuated in Australia and South Korea. S&P 500 futures posted modest gains after U.S. stocks closed mixed Friday. The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, fell 0.45% to 15,157.50 as of 6:55 a.m.
Bitcoin advanced to about $35,500 following another weekend of big price swings.
The stalling commodities boom remains in focus as China tries to temper prices. Oil traded above $63 a barrel amid further signs the U.S. is recovering from the pandemic.
Earnings Post Market Hours
JSW Steel Q4FY21 (Consolidated, QoQ)
- Revenue up 23.2% at Rs 26,934 crore Vs Rs 21,859 crore (Bloomberg estimate: Rs 26,009.6 crore)
- Net profit up 56.6% at Rs 4,198 crore Vs Rs 2,681 crore (estimate: Rs 4,325 crore)
- Ebitda up 43.9% at Rs 9,280 crore Vs Rs 6,450 crore (estimate: Rs 7,952 crore)
- Margin at 34.4% Vs 29.5%
- Approved dividend of Rs 6.50 per share
- Approved issuance of NCDs for Rs 7,000 crore
- Approved up to Rs 7,000 crore equity shares/convertible securities issue
- Approved issuance of equity shares on right basis for Rs 5,000 crore
Shree Cement (Standalone, QoQ)
- Revenue up 19% at Rs 3,930.81 crore Vs Rs 3,309.43 crore
- Net profit up 23% at Rs 767.65 crore Vs Rs 626.23 crore
- Ebitda up 8% at Rs 1,177.16 crore Vs Rs 1,088.95 crore
- Ebitda margin at 29.9% Vs 32.9%
- Recommended final dividend of Rs 60 per share
Godrej Industries Q4 (Consolidated, QoQ)
- Revenue up 11% at Rs 2,610.69 crore Vs Rs 2,356.47 crore
- Net loss at Rs 15.81 crore Vs net profit of Rs 131.93 crore
- Ebitda loss at Rs 15.97 crore Vs Ebitda gain of Rs 92.3 crore
Dr Lal Pathlabs (Consolidated, QoQ)
- Revenue down 5% at Rs 431 crore Vs Rs 452.40 crore
- Net profit down 12% at Rs 83.40 crore Vs Rs 94.50 crore
- Ebitda down 12% at Rs 122 crore Vs Rs 138.8 crore
- Ebitda margin at 28.31% Vs 30.68%
- Recommended final dividend of Rs 8 per share. The record date for the same is July 22.
Container Corporation Of India (Consolidated, QoQ)
- Revenue up 11% at Rs 1,956.69 crore Vs Rs 1,766.89 crore
- Net profit down 89% at Rs 25.64 crore Vs Rs 234.27 crore
- Ebitda down 48% at Rs 195.68 crore Vs Rs 376.07 crore
- Ebitda margin at 10% Vs 21.3%
- Declared a final dividend of Rs 2 per share
Birlasoft Q4FY21 (Consolidated, QoQ)
- Revenue up 3% at Rs 902.80 crore Vs Rs 880.70 crore
- Net profit up 3% at Rs 98.90 crore Vs Rs 96.30 crore
- Ebitda up 5% at Rs 152.20 crore Vs Rs 144.30 crore
- Ebitda margin at 16.9% Vs 16.4%
- Recommended a final dividend of Rs 2.50 per share
United Spirits Q4FY21 (Standalone, QoQ)
- Revenue down 7% at Rs 7,672.10 crore Vs Rs 8226 crore
- Net profit down 27% at Rs 167.30 crore Vs Rs 229.90 crore
- Ebitda up 7% at Rs 411.80 crore Vs Rs 383.80 crore
- Ebitda margin at 5.4% Vs 4.7%
Crompton Greaves Consumer Electricals Q4FY21 (Standalone, QoQ)
- Revenue up 15% at Rs 1,515.26 crore Vs Rs 1,323.13 crore
- Net profit up 67% at Rs 246.52 crore Vs Rs 147.43 crore
- Ebitda up 15% at Rs 224.83 crore Vs Rs 195.18 crore
- Ebitda margin flat at 14.8%
- Recommended payment of dividend of Rs 2.50 per share
Shoppers Stop Q4FY21 (Standalone, QoQ)
- Revenue down 5% at Rs 671.15 crore Vs Rs 707.60 crore
- Net loss at Rs 37.09 crore Vs Rs 20.71 crore
- Ebitda up 1% at Rs 95.56 crore Vs Rs 94.92 crore
- Ebitda margin at 14.2% Vs 13.4%
Amara Raja Batteries Q4FY21 (Standalone, QoQ)
- Revenue up 7% at Rs 2,102.70 crore Vs Rs 1,960.12 crore
- Net profit down 2% at Rs 189.48 crore Vs Rs 193.19 crore
- Ebitda up 3% at Rs 316.50 crore Vs Rs 306.39 crore
- Ebitda margin at 15.1% Vs 15.6%
- Recommended a final dividend of Rs 6 per share
Stocks To Watch
- Tata Steel to replace ONGC in S&P BSE Sensex from June 21.
- InterGlobe Aviation: IndiGo has selected CFM International's LEAP-1A engines to power its fleet of 310 new Airbus A320neo, A321neo, and A321XLR aircraft. The agreement includes 620 new installed engines and associated spare engines, as well as a long-term, multi-year service agreement. The engines for the A320neo family aircraft will be delivered from 2023 onwards.
- Hero MotoCorp: To resume production at all manufacturing plants in India from May 24. Single-shift operations to resume at Rajasthan, Gujarat, Andhra Pradesh plants. Single-shift operations resumed in Haryana, Uttarakhand on May 17.
- JSW Steel: Media reports saying that we are weighing a bid for Liberty Steel’s assets in the U.K. are “speculative” and “misleading”, the company said.
- GHCL: Suspended operations at Yarn division plants at Paravai and Manaparai in Tamil Nadu due to the lockdown in the state. The plants will remain closed from May 24 till May 31.
- Natco Pharma: The company’s marketing partner, Breckenridge Pharmaceutical Inc., has received final approval for its Abbreviated New Drug Application for Everolimus Tablets from the U.S. FDA. It also received final approval for Lenalidomide Capsules. Further, the company has initiated a Phase-III clinical trial of Molnupiravir capsules for Covid-19. Its first patient was dosed on May 21 in Yashoda Hospitals, Hyderabad. The Phase-III clinical trial is planned in 32 hospitals across India and initiated to evaluate the efficacy and safety of Molnupiravir Capsules in mild Covid-19 patients.
- Bharat Parenterals: Received license and authorisation from Drugs Controller General of India and Central Drugs Standard Control Organisation for the manufacturing and marketing of Favipiravir Oral Suspension l00mg/ml, which will be used to treat Covid-19.
- UCO Bank: Board to meet on May 27 to consider a proposal for raising of equity capital through various modes such as FPO, QIP, preferential issue etc.
- IDBI Bank: Terminated the rating engagements with S&P Global Ratings and Fitch Ratings as MTN Bonds fully repaid.
- Vedanta: Evaluating SEBI order imposing a penalty on Cairn India.
- Wockhardt: Approved raising up to Rs 150 crore via issuance of NCDs on a private placement basis.
- Nifty Earnings: Grasim Industries
- Non-Nifty Earnings: ADF Foods, Balaji Amines, Barbeque-Nation Hospitality, Dalmia Bharat Sugar and Industries, IG Petrochemicals, India Cements, JK Paper, JSW Holdings, Karda Constructions, Lakshmi Machine Works, Mahanagar Gas, Poly Medicure, The Ramco Cements, Ramco Industries, Shanthi Gears
Pledge Share Details
- Sun Pharmaceutical Industries: Promoter Shanghvi Finance revoked pledge of 15.14 lakh shares between May 18-19.
- Mangalore Chemicals & Fertilizers: Promoter Zuari Agro Chemicals created pledge of 46.55 lakh shares between May 17-19.
- Emami: Promoters (Sneha Enclave and Sneha Gardens) revoked pledge of 4.96 lakh shares on May 19.
- Jindal Steel & Power: Promoters (Opelina Sustainable Services and OPJ Trading) revoked pledge of 11.30 lakh shares between May 19-20.
As reported on May 21.
- SMC Global Securities: Millennium Investment and Acquisition Company Inc sold 6.11 lakh shares (0.54%) at Rs 71.64 per share.
- Music Broadcast: Marcellus Investment Managers sold 31.29 lakh shares (0.91%) at Rs 23.14 per share.
- Den Networks: Broad Street Investments (Singapore) Pte. sold 41.38 lakh shares (0.87%) at Rs 46.26 per share.
- Max Healthcare Institute: WF Asian Reconnaissance Fund sold 82.50 lakh shares (0.85%) at Rs 227.07 per share.
- Godrej Agrovet: Promoter Godrej Industries bought 12,105 shares on May 18.
- Varun Beverages: Promoter Varun Jaipuria sold 16.88 lakh shares on May 21.
Who's Meeting Whom
- Indian Energy Exchange: To meet Aberdeen Standard Life (Singapore) and ICICI Prudential Life on May 24.
- Kirloskar Oil Engines: To meet Abakkus Asset Manager LLP on May 24.
- Ex-Date Buyback: Welspun India
- Ex-Date Dividend: Welspun India
- Ex-Date Interim Dividend: Kennametal India
- Ex-Date Stock Split: Emerald Leisures
- Price Band Revised From 10% To 5%: Ruchi Soya Industries
- Price Band Revised From 20% To 10%: HFCL, VLS Finance
- Move Into Short-Term ASM Framework: Pokarna, VLS Finance, Automotive Axles, Dhunseri Ventures, Take Solutions, The Investment Trust Of India
- Move Out Of Short-Term ASM Framework: Gufic Biosciences, Southern Petrochemicals Industries Corporation, Kopran, Uniphos Enterprises, Oriental Aromatics
- Move Into ASM Framework: Goldiam International, Orient Cement, Saregama India, CG Power and Industrial Solutions, Trident, Jayaswal Neco Industries, Ruchi Soya Industries
- Move Out Of ASM Framework: Olectra Greentech, Amber Enterprises India, Polyplex Corporation, Phillips Carbon Black, Borosil Renewables, Emami, JK Cement, Lakshmi Machine Works, PC Jeweller, Zen Technologies, RPSG Ventures
Money Market Update
- The rupee ended at 72.83 against the U.S. Dollar on Friday as compared to Thursday's closing of 73.11.
- Nifty May futures ended at 15,222; premium of 46.7 points.
- Nifty May futures shed 4.78% and 6,654 shares in Open Interest
- Nifty Bank May futures ended at 34,850; premium of 243.1 points
- Nifty Bank May futures added 19.18% and 10,857 shares in Open Interest
- Securities that continue to be on the ban list: BHEL, Jindal Steel & Power, Nalco, PNB and SAIL
- Securities out of the ban list: Cadila Healthcare