Stocks To Watch: Infosys, Bajaj Auto, Paytm, Zee, Vodafone Idea, HDFC Life Insurance
Here are the stocks to watch before going into trade today.
Infosys Ltd. and Bajaj Auto Ltd. will be in focus on Thursday as the two companies are set to report their quarterly earnings.
Paytm has refuted reports on the deferral of the licence application of Paytm Payment Services Ltd., while Zee Entertainment Enterprises Ltd. has withdrawn the Zee-Sony merger implementation application filed before the National Company Law Tribunal.
India's benchmark stock indices extended losses for the third consecutive session on Tuesday as geopolitical concerns weighed on investor sentiment. The indices were dragged by banks and information technology stocks, especially Infosys and ICICI Bank Ltd.
The NSE Nifty 50 ended 124.6 points, or 0.56%, lower at 22,147.9, and the S&P BSE Sensex declined 456.1 points, or 0.62%, to close at 72,943.68.
Overseas investors stayed net sellers on Tuesday for the third consecutive day. Foreign portfolio investors offloaded stocks worth Rs 4,468 crore and domestic institutional investors remained net buyers for the sixth day and mopped up equities worth Rs 2,040 crore, according to provisional data from the National Stock Exchange.
The Indian currency weakened by 9 paise to close at Rs 83.54 against the US dollar.
Most share indices in Asia-Pacific were trading higher as investors look forward earnings of big tech firms.
The Nikkei 225 was trading 130.19 points or 0.34% lower at 37,831.61, and the KOSPI index was trading 31.48 points or 1.22% higher at 2,615.66. The S&P ASX 200 was trading 27.50 points or 0.36% higher at 7,633.10 as of 06:26 a.m.
Taiwan Manufacturing Co., Tokyo Electron Ltd. will be reporting its quarterly results on Thursday, Bloomberg reported.
The US bond market remained under pressure, with traders sifting through a slew of remarks from Federal Reserve speakers on speculation that policymakers will be in no rush to cut rates, Bloomberg said.
The S&P 500 index and Nasdaq Composite fell by 0.58% and 1.15%, respectively, as of Wednesday. The Dow Jones Industrial Average declined by 0.12%.
Brent crude was trading 0.07% higher at $87.36 a barrel. Gold rose 0.37% to $2,369.67 an ounce.
The GIFT Nifty was trading 30.5 points or 0.14% down at 22,123.00.
Earnings Post Market Hours
Tata Communications (Consolidated, QoQ)
Revenue up 1.0% at Rs 5,692 crore vs Rs 5,633 crore.
Ebitda down 6.9% at Rs 1,056 crore vs Rs 1,134 crore.
Margin at 18.6% vs 20.1%.
Net profit up 613.7% at Rs 321.5 crore vs Rs 45.1 crore.
Note: PAT jump on account of lower exceptional costs compared to Q3 (52.1 crore vs 185.5 crore in Q3) and lower tax expense.
ICICI Lombard (YoY)
Total income up 3% at Rs 5,162 crore vs Rs 5,003 crore.
Net Profit up 19% at Rs 519 crore vs Rs 437 crore.
Angel One (Consolidated, YoY)
Revenue up 64% at Rs 1,357 crore vs Rs 826 crore.
Net Profit up 27% at Rs 340 crore vs Rs 267 crore.
Just Dial (Consolidated, QoQ)
Revenue up 16.2% at Rs 318.9 crore vs Rs 274.4 crore.
Ebitda up 58.9% at Rs 119.4 crore vs Rs 75.1 crore.
Margin at 37.4% vs 27.3%.
Net profit up 38.4% at Rs 115.7 crore vs Rs 83.6 crore.
Hathway Cable & Datacom Q4FY24 (Consolidated, YoY)
Revenue up 7.4% at Rs 493 crore vs Rs 459 crore.
Ebitda up 27.1% at Rs 80.2 crore vs Rs 63.1 crore.
Margin at 16.3% vs 13.7%.
Net profit at Rs 34.6 crore vs loss of Rs 14.6 crore.
Earnings In Focus
Infosys, Bajaj Auto, HDFC Life Insurance, ICICI Securities, Mastek, National Standard (India), Network18 Media and Investments, Oriental Hotels, Swaraj Engines, TV18 Broadcast, Accelya Solutions India.
Stocks To Watch
One 97 Communications: Paytm has refuted reports on the deferral of the license application of Paytm Payment Services. The company has not received any communication suggesting a deferral or penalties with regard to Paytm Payment Services license application.
Vodafone Idea: The company successfully closed the anchor book allocation of 490 crore equity shares at Rs 11 per share for its upcoming public offer. Anchor investors have bought 491 crore shares at Rs 11 each. GQG has invested Rs 1,348 crore, Fidelity Rs 774 crore, and Redwheel Funds has put in Rs 281 crore.
Infosys: The company announced a successful collaboration with Proximus, Belgium’s leading digital services and communications solutions provider to standardize its existing processes on the ServiceNow platform and transform its customer service management operations.
Zee Entertainment Enterprises: The company announced its decision to withdraw the merger implementation application filed before the National Company Law Tribunal. This will enable the company to continue to aggressively pursue all its claims against Sony in the ongoing arbitration proceedings at the Singapore International Arbitration Centre and in other forums. NSE has excluded the company from the derivatives segment.
Ambuja Cements: The Adani family infused an additional Rs 8,339 crore, taking total infusion to Rs 20,000 crore under the warrants program; increasing stake to 70.3% from 63.2%.
Power Grid: The company has approved raising funds up to Rs 12,000 crore via bonds in FY25.
IIFL Finance: The company approved a right issue of an amount not exceeding Rs 1,500 crore at an offer price of Rs 300 per share. Rights issue to open on April 30, close on May 14.
Adani Enterprises: The company’s step-down unit incorporated a Joint Venture King Power Ospree in Singapore.
Power Grid Corporation of India: The company was declared a successful bidder for the inter-state transmission system.
Sunteck Realty: The company reported a 20% annual growth in its sale bookings to Rs 1,915 crore in the FY24 on strong housing demand. The collections stood at 296 crores, down 10% YoY/32% QoQ in Q4 FY24, while Rs 1,236 down 1.12% for the financial year 2024. The company has 7 large projects in the Mumbai Metropolitan Region with a Gross Development Value of approximately Rs 30,000 crore.
PC Jeweller: The company is to raise Rs 1,500 crore through rights issue, while Rs 500 crore will be raised through fully convertible warrants.
Kirloskar Ferrous Industries: The has restarted operations of the Hiriyur mini blast furnace.
Brigade Enterprises: The company achieved highest ever the pre-sales of Rs 6,013 crore in FY 24 and Rs 2,243 crore in Q4 and collections stood at Rs 5,915 crore up 9% YoY.
Biocon: The drugmaker signed an exclusive licensing and supply agreement for generic Ozempic (Semaglutide) commercialization in Brazil with Biomm S.A.
Happiest Minds Technologies: The company announced the new GenAI chatbot - ‘hAPPI’ developed for a unit for Happiest Health. The chatbot represents a significant advancement in providing personalized and informative interactions for users in the healthcare domain.
Shilpa Medicare: The company’s Telangana unit was inspected by AGES, Austria from Jan 22 to Jan 26 and received GMP Certification from Ages, Austria.
Andhra Paper: The company's manufacturing operations are temporarily shut at the Kadiyam unit due non-availability of pulp from the manufacturing unit at Rajahmundry where an illegal strike has been ongoing since April 2.
Krishna Institute of Medical Sciences: The company’s arm received a demand notice worth Rs 307 crore from the Income Tax department for AY23.
TARC: The company achieved its highest-ever FY 24 presales of Rs 1,612 crore up 200% YoY and Q4 pre-sales stood at Rs 1,281 crore 600% up company achieved its highest annual collection to date Rs 415 crore.
Wardwizard Innovations And Mobility: The company dispatched over 3,800 units up 1.5% YoY/ 88% MoM in the month of March.
Shoppers Stop: The company partnered with Love Child by Masaba to launch an exclusive shop-in-shop at R City Mall, Ghatkopar.
Kamat Hotels: The company to launched IRA by Orchid hotels in Ayodhya to expand presence in Uttar Pradesh.
Bulk Deal
Coffee Day Enterprise: Tikri Investments bought 40 lakh shares (1.89%) at Rs 70.94 apiece.
Who’s Meeting Whom
Navin Fluorine International: To meet analysts and investors on April 18.
Trading Tweaks
Moved into short-term ASM framework: Ashiana Housing, Exide Industries.
Moved out of short-term ASM framework: Genesys International Corporation, GOCL Corporation.
Price Band change from 10% to 5%: Purvankara.
Ex/record AGM: Vesuvius India.
F&O Cues
Nifty April futures down by 0.65% to 22,200.75 at a premium of 52.85 points.
Nifty April futures open interest down by 5.06%.
Nifty Bank April futures down by 0.29% to 47,660.95 at a premium of 176.15 points.
Nifty Bank April futures open interest down by 1.09%.
Nifty Options April 18 Expiry: Maximum Call open interest at 22,500 and Maximum Put open interest at 22,000.
Bank Nifty Options April 16 Expiry: Maximum Call Open Interest at 47,500 and Maximum Put open interest at 47,400.
Securities in ban period: Balrampur Chini Mills, Bandhan Bank, GNFC, Hindustan Copper, Idea, Metropolis, National Aluminium, Piramal Enterprises, SAIL, Zee Entertainment Enterprise.
Research Reports
India Politics - BJP’s 2024 Manifesto Promises Policy Continuity: Motilal Oswal
Iran-Israel Conflict Could Lead To Oil, Gas Supply Crunch: Motilal Oswal
Internet Q4 Results Preview - Quick Commerce To Continue Leading The Way: ICICI Securities
Life Insurance Q4 Results Preview - Margin Softness To Persist: DRChoksey
Healthcare Q4 Results Preview - Set For Strong Volume Driven Growth: ICICI Securities
Cement Q4 Results Preview - Weak Pricing Dampens Industry Margin: HDFC Securities
Automobiless Q4 Results Preview - Premiumisation Is The Way To Go: HDFC Securities
Pharma, Healthcare Q4 Results Preview - Domestic Business Marred By Weak Seasonality: Yes Securities
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