Stocks To Watch: Lupin, Gujarat Gas, Dr Reddy's Laboratories, JSW Energy
Here are the stocks to watch before going into trade today.
The stocks of Lupin Ltd., Gujarat Gas Ltd. and Gujarat Fluorochem Ltd. will be in focus after it announced its quarterly earnings on Monday. In addition, Dr. Reddy's Laboratories Ltd., JSW Energy Ltd. and Jindal Saw Ltd. will be in the spotlight as it announces its quarterly results.
Telecom operators Reliance Jio Infocomm Ltd., Bharti Airtel Ltd., and Vodafone Idea Ltd. have submitted their application to bid for Rs 96,317 crore spectrum auction, which is scheduled to start from June 6, reported PTI.
Zee Media Corp. on Monday said its CEO Abhay Ojha has been terminated with effect from May 4.
Markets in Asia-Pacific region extended gains on Tuesday taking cues from overnight gains on Wall Street as risk sentiment improved on hopes that the Federal Reserve will cut interest rates this year.
The Nikkei 225 was 521.80 points or 1.36% higher at 38,757.87, and the S&P ASX 200 was trading 41.00 points or 0.53% up at 7,723.40 as of 06:15 a.m.
In Asia, investors also await for the Reserve Bank of Australia's policy decision, scheduled to be published today. The central bank is expected to keep benchmark rate steady at 4.35%.
The S&P 500 Index and Nasdaq Composite rose by 1.03% and 1.19%, respectively, as of Monday. The Dow Jones Industrial Average rose by 0.46%.
Brent crude was trading 0.58% higher at $83.81 a barrel. Gold rose 0.12% to $2,326.86 an ounce.
The GIFT Nifty was trading flat at 22,590.00 as of 06:19 a.m.
India's benchmark stock indices ended little changed amid a volatile session on Monday, even as a steep correction in public sector banks left the Nifty 50 down for the second day in a row, while the Sensex closed marginally higher.
Titan Co., State Bank of India, and Reliance Industries Ltd. shares weighed on the indices, but Kotak Mahindra Bank Ltd.'s gains helped to limit the losses.
The NSE Nifty 50 closed 33.15 points, or 0.15%, lower at 22,442.7, while the S&P BSE Sensex ended 17.39 points, or 0.02%, higher at 73,895.54.
Overseas investors stayed net sellers on Monday for the third straight day. Foreign portfolio investors sold stocks worth Rs 2,168.75 crore and domestic institutional investors stayed net buyers for the ninth day, according to provisional data from the National Stock Exchange.
The Indian currency closed 6 paise weaker against the US dollar at Rs 83.49.
Earnings in Focus
Dr. Reddy’s Laboratories, JSW Energy, Pidilite Industries, SRF, PB Fintech, United Breweries, Voltas, IRB Infrastructure developer, Max Financial Services, Indraprastha Gas, CreditAccess Grameen, Sonata Software, Kajaria Ceramics, KEC International, Jupiter Wagons, Navin Fluorine International, Chambal Fertilizers, Graphite India, Century Textiles, and Industries, IDFC, Jindal Saw, Latent View Analytics.
Earnings Post Market Hours
Lupin - (Consolidated, YoY)
Revenue up 11.97% at Rs 4,961 crore vs Rs 4,430 crore (Bloomberg estimate Rs 5092 crore).
Ebitda up 72.51% at Rs 996 crore vs Rs 578 crore (Bloomberg estimate Rs 996 crore).
Margin up 705 bps at 20.09% vs 13.04% (Bloomberg estimate Rs 19.6%).
Net profit up 0.79% at Rs 439 crore vs Rs 436 crore (Bloomberg estimate Rs 520 crore).
Board recommends dividend of Rs 8 per share.
Gujarat Gas - (Consolidated, QOQ)
Revenue up 5.13% at Rs 4,134 crore vs Rs 3,929 crore (Bloomberg estimate Rs 4,041 crore).
Ebitda up 47.51% at Rs 591 crore vs Rs 401 crore (Bloomberg estimate Rs 462 crore).
Margin up 409 bps at 14.29% vs 10.19%, (Bloomberg estimate 11.4%).
Net profit up 85.72% at Rs 410 crore vs Rs 221 crore (Bloomberg estimate Rs 306 crore).
Exceptional income item of Rs 55.69 crore.
Gujarat Fluorochem - (Consolidated, YoY)
Revenue down 23% at Rs 1,133 crore vs Rs 1,471 crore (Bloomberg estimate Rs 1073 crore).
Ebitda down 55.5% at Rs 229 crore vs Rs 515 crore (Bloomberg estimate Rs 233 crore).
Margin at 20.2% vs 35% (Bloomberg estimate 21.7%).
Net profit down 70% at Rs 101 crore vs Rs 332 crore (Bloomberg estimate Rs 99 crore).
Board proposes final dividend of Rs 3 per share.
DCM Shriram - (Consolidated, YoY)
Revenue down 11.15% at Rs 2,399 crore vs Rs 2,720 crore.
Ebitda down 23.38% at Rs 265 crore vs Rs 346 crore.
Margin down 167 bps at 11.05% vs 12.72%.
Net profit down 36.89% at Rs 118 crore vs Rs 187 crore.
Recommended final dividend of Rs 2.6 per share.
Route Mobile - (Consolidated, YoY)
Revenue up 0.82% at Rs 1,017 crore vs Rs 1,008 crore (Bloomberg estimate Rs 1,055 crore).
Ebitda down 4.94% at Rs 125 crore vs Rs 132 crore (Bloomberg estimate Rs 130 crore).
Margin down 74 bps at 12.33% vs 13.08% (Bloomberg estimate 12.3%).
Net profit down 8.54% at Rs 95.16 crore vs Rs 104.05 crore (Bloomberg estimate Rs 91.1 crore).
Board recommends final dividend of Rs 2 per share.
Exceptional Item of Rs 1.8 crore.
Godrej Consumer Products - (Consolidated, YoY)
Revenue up 5.81% at Rs 3,386 crore vs Rs 3,200 crore (Bloomberg estimate Rs 3,361 crore).
Ebitda loss at Rs 1,239 crore vs EBITDA of Rs 664 crore (Bloomberg estimate Rs 742 crore).
Net loss at Rs 1,893 crore vs profit of Rs 452 crore (Bloomberg estimate Rs 507 crore).
Declared interim dividend of Rs 10 per share.
Note: Loss on Exceptional item of Rs 2,376 crore.
Fusion Micro Finance – (YoY)
Total income up 29.66% at Rs 675 crore vs Rs 521 crore.
Net profit up 15.86% at Rs 133 crore vs Rs 115 crore.
Board recommended final dividend of Rs 2 per share.
Prudent Corporate Advisory - (YoY)
Total income up 39.83% at Rs 195 crore vs Rs 140 crore (Bloomberg Estimate Rs 227 crore).
Net profit up 60.96% at Rs 31.92 crore vs Rs 19.83 crore (Bloomberg Estimate Rs 38.5 crore).
Stocks to Watch
Wipro: The company collaborated with Microsoft to Launch a Suite of Generative AI-powered virtual Assistants for Financial Services.
Zee Media: The company announced the cessation of Abhay Ojha as CEO.
Lupin: The company received US FDA approval for Travoprost Ophthalmic Solution USP. Travoprost Ophthalmic is used for the reduction of elevated intraocular pressure.
Bajaj Healthcare: The company appointed Dayashankar Patel as the CFO and KMP of the company, effective today.
Mastek: The company announced its iConniX portfolio to enable Gen AI-led innovation across industries.
Firstsource Solutions: The company announced Hasit Trivedi as President & Chief Digital and AI Officer.
Tube Investments: The company to subscribe shares aggregating to Rs 580 crore of TI Clean Mobility.
Gujarat Gas: The company approved the appointment of Rajesh Sivadasan as the Chief Financial Officer and Key Managerial Personnel.
Orient Electric: The company commenced commercial production from its greenfield manufacturing plant at Hyderabad, Telangana.
Bajaj Finserv: The company Bajaj Alliance GIC recorded a Gross Direct Premium underwritten at Rs 2,389 crore for the month of April and Bajaj Allianz Life Insurance company's new business premium stood at Rs 689 crore.
Adani Total Gas: The company clarified that Dharma LNG is not part of the company’s corporate structure.
Gillette India: LV Vaidyanathan resigned as MD effective April 30.
Tamilnad Mercantile Bank: The company increased MCLR by 10-15 bps across tenures effective May 7.
IPO Offering
Indegene: The public issue was subscribed to 1.67 times on day 1. The bids were led by institutional investors (0.05 times), non-institutional investors (4.14 times), retail investors (1.5 times).
Trading Tweaks
F&O Cues
Nifty May futures down by 0.05% to 22,550 at a premium of 107.3 points.
Nifty May futures open interest up by 5.7%.
Nifty Bank May futures down by 0.07% to 49,045 at a premium of 149.7 points.
Nifty Bank May futures open interest up by 2.4%.
Nifty Options May 9 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 22,000.
Bank Nifty Options May 8 Expiry: Maximum Call Open Interest at 49,500 and Maximum Put open interest at 48,500.
Securities in ban period: Aditya Birla Fashion, Balrampur Chini Mills, Biocon, GMR Infra, Vodafone Idea, Sail.
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