All You Need To Know Going Into Trade On May 28
Asian stocks and U.S. equity futures rose early Friday after solid U.S. economic data and President Joe Biden’s federal spending plans spurred a rally on Wall Street in cyclical shares.
Japan led gains, jumping more than 1%, with South Korea and Australia also up. S&P 500 and Nasdaq 100 futures advanced. The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.25% to 15,453 as of 7:15 a.m.
The 10-year U.S. Treasury yield advanced past 1.61% amid the growth optimism and focus on debt supply risks to fund spending.
A gauge of the dollar was steady and the yen declined amid month-end rebalancing. The yuan is in focus after China’s central bank said the exchange rate can’t be used as a tool to spur exports or to offset the impact of commodity price surges.
Elsewhere, oil climbed to a more than two-year peak and the Bloomberg Commodity Spot Index rose the most in about two weeks. Bitcoin continued to trade below the $40,000 level.
Results Post Market Hours
Eicher Motors Q4FY21 (Consolidated, QoQ)
- Revenue up 4% at Rs 2,940 crore Vs Rs 2,828 crore (Bloomberg estimate: Rs 2,903 crore)
- Profit down 1% at Rs 526 crore Vs Rs 533 crore (estimate: Rs 566 crore)
- Ebitda down 6% at Rs 634 crore Vs Rs 673 crore (estimate: Rs 655 crore)
- Margins at 21.6% Vs 23.8% (estimate: 22.6%)
- Approved dividend of Rs 17 per share
Sun Pharmaceutical Industries Q4FY21 (Consolidated, QoQ)
- Revenue down 4% at Rs 8,522.90 crore Vs Rs 8,836.70 crore (Bloomberg estimate: Rs 8,716 crore)
- Net profit down 52% at Rs 894.10 crore Vs Rs 1,852.40 crore (estimate: Rs 1,375 crore)
- Ebitda down 15% at Rs 2,048.30 crore Vs Rs 2,406.10 crore (estimate: Rs 2,096 crore)
- Ebitda margin 24% Vs 27.2% (estimate: 24%)
- India sales up 12.9% at Rs Rs 2,670.9 crore (YoY)
- U.S. finished dosage sales down 1.3% at $370 million (YoY)
- Rest of World sales up 5.5% at $163 million (YoY)
- Recommended payment of final dividend of Rs 2 per share
Dixon Technologies Q4FY21 (Consolidated, QoQ)
- Revenue down 3% at Rs 2,109.71 crore Vs Rs 2,182.78 crore (Bloomberg estimate: Rs 2,015.3)
- Net profit down 28% at Rs 44.26 crore Vs Rs 61.59 crore (estimate: Rs 54.5 crore)
- Ebitda down 21% at Rs 79.81 crore Vs Rs 100.5 crore (estimate: Rs 98.1 crore)
- Ebitda margin at 3.8% Vs 4.6% (estimate: 4.86%)
- Recommended final dividend of Re 1 per share
- Approved up to Rs 500 crore fund raising plan
Metropolis Healthcare Q4FY21 (Consolidated, QoQ)
- Revenue up 6.17% at Rs 291.73 crore Vs Rs 274.77 crore (Bloomberg estimate: Rs 289.8 crore)
- Net profit up 4.75% at Rs 61.34 crore Vs Rs 58.56 crore (estimate: Rs 60.25 crore)
- Ebitda up 11.27% at Rs 96.39 crore Vs Rs 86.63 crore (estimate: Rs 89.28 crore)
- Ebitda margin at 33% Vs 31.50% (estimate: 30.80%)
Redington (India) Q4FY21 (Consolidated, QoQ)
- Revenue down 9% at Rs 15,503.94 crore Vs Rs 16,980.84 crore
- Net profit up 60% at Rs 302.51 crore Vs Rs 189.30 crore
- Ebitda up 0.23% at Rs 425.10 crore Vs Rs 424.11 crore
- Ebitda margin at 2.7% Vs 2.5%
- Recommended a final dividend of Rs 11.60 per share
HEG Q4FY21 (Consolidated, QoQ)
- Revenue up 19% at Rs 380.48 crore Vs Rs 319.59 crore
- Net loss at Rs 16.08 crore Vs Rs 0.80 crore
- Ebitda loss at Rs 4.69 crore Vs Rs 1.27 crore
- Recommended a final dividend of Rs 3 per share
SH Kelkar And Company Q4FY21 (Consolidated, QoQ)
- Revenue up 5.03% at Rs 396.98 crore Vs Rs 377.97 crore
- Net profit up 14.53% at Rs 40.11 crore Vs Rs 35.02 crore
- Ebitda up 0.58% at Rs 67.11 crore Vs Rs 66.72 crore
- Ebitda margin at 16.90% Vs 17.70%
Stocks To Watch
- Hester Biosciences: An MOU has been signed between Bharat Biotech International and Gujarat Covid Vaccine Consortium for contract manufacturing the drug substance for Covaxin. GCVC comprises of Gujarat Biotechnology Research Centre, Hester Biosciences and Omnibrx Biotechnologies. Hester has estimated an outlay of Rs 40 crore for this project. The drug substance would be available from August 2021.
- TCS: Completed the acquisition of GE’s stake in Tata Consultancy Services Saudi Arabia on May 26.
- Navneet Education: Approved buyback of shares from the open market at a maximum price of Rs 100 per share for an aggregate amount of up to Rs 50 crore.
- UCO Bank: Approved raising up to Rs 3000 crore equity capital via Follow on Public Offer, Qualified Institutional Placement, preferential issue etc
- Panacea Biotech: To consider raising funds in June 2 meeting.
- Authum Investment & Infrastructure: Approved raising of funds up to Rs 500 crore by way of QIP, preferential allotment. The company has also approved a sub-division of one share of the face value of Rs 10 each fully paid up into 10 shares of Re 1 each fully paid up.
- India Grid Trust: Net profit down 28% quarter-on-quarter at Rs 67.90 crore Vs Rs 94.50 crore. Q4FY21 distribution up 3.3% at Rs 3.10 per unit. FY22 distribution guidance raised to Rs 12.75 per unit.
- Delta Corp: The casinos operated by the company and its subsidiaries in Goa will remain closed till June 15 as the state government has extended the lockdown due to a surge in Covid-19 cases.
- Nifty Earnings: Mahindra & Mahindra
- Non-Nifty Earnings: Max Healthcare Institute, NACL Industries, Navkar Corporation, NCC, NESCO, OnMobile Global, Rajapalayam Mills, REC, Reliance Infrastructure, Renaissance Global, 3M INDIA, Aditya Birla Fashion and Retail, Action Construction Equipment, Ador Welding, Associated Alcohols & Breweries, Bengal & Assam Company, Camlin Fine Sciences, Central Bank Of India, Confidence Petroleum India, Dilip Buildcon, Deepak Fertilisers & Petrochemicals Corporation, Prataap Snacks, Excel Industries, Force Motors, Genus Power Infrastructures, Glenmark Pharmaceuticals, GMM Pfaudler, Gulf Oil Lubricants India, Heidelbergcement India, Hinduja Global Solutions, Indian Bank, India Nippon Electricals, Ipca Laboratories, ITD Cementation India, Jagran Prakashan, Jindal Poly Films, Kama Holdings, Kanoria Chemicals & Industries, RSWM, SMS Pharmaceuticals, Sudarshan Chemical Industries, Sumitomo Chemical India, Time Technoplast, TV Today Network, Ujjivan Financial Services, V-Mart Retail, WPIL
- Steel Authority: Cut to Neutral at JPMorgan; price target Rs 135
- Tata Elxsi: Cut to Add at HDFC Securities; price target Rs 3,450
- NMDC: Cut to Neutral at JPMorgan; price target Rs 200
- JSW Steel: Cut to Neutral at JPMorgan; price target Rs 700
- Hindustan Zinc: Cut to Underweight at JPMorgan; price target Rs 277
- Cadila Health: Cut to Hold at Jefferies; price target Rs 585.53
- CAMS: Cut to Reduce at HDFC Securities; price target Rs 1,980
- Persistent Systems: Cut to Add at HDFC Securities
- IDBI Bank: Affirmed at BB by S&P
Pledge Share Details
- Adani Enterprises: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 5.50 lakh shares between May 25-26.
- Adani Ports and Special Economic Zone: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 29.50 lakh shares on May 26.
- Adani Transmission: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 40.50 lakh shares on May 26.
- Emami: Promoter Sneha Gardens revoked pledge of 1.50 lakh shares on May 25.
As reported on May 27.
- Adani Total Gas: Integrated Core Strategies (Asia) Pte sold 62.87 lakh shares (0.57%) at Rs 1,349.97 per share.
- Adani Transmission: Integrated Core Strategies (Asia) Pte sold 61.65 lakh shares (0.56%) at Rs 1,434.8 per share.
- Adani Enterprises: Integrated Core Strategies (Asia) Pte sold 72.09 lakh shares (0.66%) at Rs 1,323.97 per share.
- Rupa & Company: GMO Emerging Markets Fund bought 15 lakh shares (1.89%) at Rs 331 per share. Abakkus Emerging Opportunities Fund-1 bought 4 lakh shares (0.50%) at Rs 331 per share. Girika Advisory Services LLP sold 6.83 lakh shares (0.86%) at Rs 352.13 per share and sold another 19 lakh shares (2.39%) at Rs 331 per share.
- Globus Spirits: Templeton Strategic Emerging Markets Fund IV LDC sold 6 lakh shares (2.08%) at Rs 342.16 per share.
- Bharat Electronics: Integrated Core Strategies (Asia) Pte sold 2.85 crore shares (1.17%) at Rs 148.43 per share.
- Cholamandalam Investment and Finance Company: Integrated Core Strategies (Asia) Pte sold 78.75 lakh shares (0.96%) at Rs 537.32 per share.
- Take Solutions: Shriram Group Executives Welfare Trust sold 15.71 lakh shares (1.06%) at Rs 72.22 per share.
- Zee Entertainment Enterprises: Integrated Core Strategies (Asia) Pte bought 2.31 crore shares (2.41%) at Rs 209.88 per share. Societe Generale bought 48.90 lakh shares (0.51%) at Rs 209.35 per share.
- Apollo Tyres: Promoter PTL Enterprises bought 3.71 lakh shares between May 24-25.
- Ultramarine & Pigments: Promoters (Sridhar Sundararajan, Jayalakshmi Venkataraman and S Narayan) sold 14,000 shares on May 26.
- Kabra Extrusiontechnik: Promoters (Kolsite Industries and Shreevallabh Kabra) bought 71,000 shares between May 24-25.
- Vardhman Special Steels: Promoter Sachit Jain bought 3,000 shares between May 25-27.
Who’s Meeting Whom
- Multi Commodity Exchange of India: To meet Aberdeen Standard Investment on June 1
- Price Band Revised From 10% To 5%: Reliance Infrastructure
- Price Band Revised From 20% To 10%: Coffee Day Enterprises
- Move Into Short-Term ASM Framework: PG Electroplast, Coffee Day Enterprises, Lux Industries, Barbeque Nation Hospitality, Wockhardt, HSIL
- Move Out Of Short-Term ASM Framework: Venky's (India)
- Move Into ASM Framework: Jamna Auto Industries, Newgen Software Technologies
- Ex-Date Interim Dividend: Indiabulls Housing Finance
- Ex-Date Dividend: Tata Coffee, JM Financial
- Ex-Date AGM: Jet Airways (India), JM Financial
- Record Date Income Distribution: IndInfravit Trust
- Record Date Final Dividend: Cigniti Technologies
Money Market Update
- The rupee ended at 72.59 against the U.S. dollar on Thursday as compared to Tuesday's closing of 72.78.
- Nifty May futures ended at 15,401; premium of 63.15 points.
- Nifty May futures added 35.08% and 34,173 shares in Open Interest
- Nifty Bank May futures ended at 35,095; premium of 0.05 points
- Nifty Bank May futures shed 56.72% and 22,116 shares in Open Interest
- Securities removed from ban list: Amara Raja Batteries and Canara Bank