Stocks To Watch: Tata Chemicals, Poonawalla Fincorp, KEC International, Indian Oil Corp
Tata Chemicals reports net loss and misses estimates in Q4 results, while KEC International bags Rs 1,036-crore orders across verticals.
The stocks of Tata Chemicals Ltd. and Poonawalla Fincorp Ltd. will be in focus after it announced its quarterly earnings on Monday. In addition, Indian Oil Corp., Havells India and Procter & Gamble Hygiene will be in the spotlight as it announce its quarterly results.
KEC International Ltd. has won orders worth Rs 1,036 crore across various businesses. The company has received transmission and distribution projects in the Middle East and the US.
The Reserve Bank of India has directed all lenders to review their practices that have to do with the disbursal of loans and the charging of interest, according to a circular released on Monday.
Markets in Asia-Pacific region climbed on Tuesday, taking cues from overnight gains on Wall Street. Investors await China's manufacturing activity data.
The Nikkei 225 was trading 484.26 points or 1.28% higher at 38,419.02 as of 06:38 a.m. In Japan, market participant speculated that the government might have intervened to support the yen after it surged back from record low against the U.S. Dollar, Bloomberg reported.
The KOSPI index was 21.35 points or 0.79% higher at 2,708.79, and the S&P ASX 200 was 7.90 points or 0.10% up at 7,645.30 as of 06:41 a.m.
U.S. stocks rose as a solid earnings season kept the market afloat despite bets the Federal Reserve will be forced to leave interest rates higher for longer, Bloomberg said.
The S&P 500 Index and Nasdaq Composite rose by 0.32% and 0.35%, respectively, as of Monday. The Dow Jones Industrial Average rose by 0.38%.
Brent crude was trading 0.10% lower at $88.30 a barrel. Gold was down 0.04% to $2,334.77 an ounce.
The GIFT Nifty was trading 10.50 points or 0.05% higher at 22,781.00 as of 06:40 a.m.
India's benchmark stock indices rebounded from Friday's drop to close nearly 1% higher on Monday, led by a rally in the banking, power and oil and gas sectors.
The Nifty settled 215.10 points, or 0.96%, higher at 22,635.05, and the Sensex rose 941.12 points, or 1.28%, to end at 74,671.28.
Overseas investors turned net buyers of Indian equities on Monday after five consecutive sessions of selling. Foreign portfolio investors mopped up stocks worth Rs 169.1 crore and domestic institutional investors stayed net buyers for the sixth day and bought equities worth Rs 692.1 crore, according to provisional data from the National Stock Exchange.
The Indian currency closed 12 paise weaker against the U.S. dollar at 83.47.
Earnings in Focus
Indian Oil Corp., REC Ltd., Havells India Ltd., Indus Towers Ltd. REC Ltd., Cholamandalam Investment and Finance Co., Indus Towers Ltd., Procter & Gamble Hygiene & Health Care Ltd., Sona BLW and Precision Forgings Ltd., Star Health and Allied Insurance Co., Exide Industries Ltd., Vedant Fashions Ltd., Five-Star Business Finance Ltd., Castrol India Ltd., IndiaMART InterMESH Ltd., Nuvoco Vistas Corp., Newgen Software Technologies Ltd., Gravita India Ltd., Symphony Ltd., Neogen Chemicals Ltd., Adani Total Gas Ltd., Central Bank Of India, and IFCI Ltd.
Earnings Post Market Hours
Tata Chemicals (Consolidated, YoY)
Revenue down 21.15% at Rs 3475 crore vs Rs 4407 crore (Bloomberg estimate Rs 3,873 crore).
Ebitda down 54.09% at Rs 443 crore vs Rs 965 crore (Bloomberg estimate Rs 519 crore).
Margin down 914 bps at 12.74% vs 21.89%, (Bloomberg estimate 13.4%).
Net loss at Rs 841 crore vs profit of Rs 692 crore (Bloomberg estimate Rs 182 crore).
Approved funds raise worth Rs 2,000 crore via bonds.
Recommended dividend of Rs 15 per share.
Poonawalla Fincorp (Standalone, YoY)
Total Income up 58.6% at Rs 922 crore vs Rs 581 crore.
Net profit up 83.57% at Rs 332 crore vs Rs 181 crore (Bloomberg estimate Rs 275.5 crore).
Vesuvius India (Standalone, YoY)
Revenue up 23.22% at Rs 453 crore vs Rs 368 crore.
Ebitda up 72.6% at Rs 94.97 crore vs Rs 55.02 crore.
Margin up 599 bps at 20.94% vs 14.95%.
Net profit up 58.72% at Rs 92.22 crore vs Rs 58.1 crore.
Shoppers Stop (Consolidated, YoY)
Revenue up 13.25% at Rs 1046 crore vs Rs 924 crore (Bloomberg estimate Rs 1011 crore).
Ebitda up 7.72% at Rs 167 crore vs Rs 155 crore (Bloomberg estimate Rs 174 crore).
Margin down 81 bps at 15.93% vs 16.74% (Bloomberg estimate 17.2%).
Net profit up 62.55% at Rs 23.18 crore vs Rs 14.26 crore (Bloomberg estimate Rs 3.5 crore).
Birlasoft (Consolidated, QoQ)
Revenue up 1.45% at Rs 1,363 crore vs Rs 1343 crore (Bloomberg estimate Rs 1,369 crore).
EBIT up 3.82% at Rs 201 crore vs Rs 193 crore (Bloomberg estimate Rs 202.3 crore).
Margin up 33 bps at 14.72% vs 14.38% (Bloomberg estimate 14.78%).
Net profit up 11.81% at Rs 180.08 crore vs Rs 161.05 crore, (Bloomberg estimate Rs 164 crore).
Board recommends final dividend of Rs 4 per share.
Spandana Sphoorty Financial (Standalone, YoY)
Total income up 32.49% at Rs 670 crore vs Rs 505 crore.
Net profit up 5.15% at Rs 122.2 crore vs Rs 116.21 crore (Bloomberg estimate Rs 130 crore).
UCO Bank (Standalone, YoY)
Net profit down 9% YoY at Rs 526 crore vs Rs 581 crore.
NII at up 11% Rs 2,187 crore vs Rs 1,972 crore.
Gross NPA at 3.46% vs 3.85% QoQ.
Net NPA at 0.89% vs 0.98% QoQ.
Board recommends dividend of Rs 0.28 per share.
Gillette India (YoY)
Revenue up 9.96% at Rs 681 crore vs Rs 619 crore (Bloomberg estimate Rs 660 crore).
Ebitda up 19.91% at Rs 160 crore vs Rs 134 crore (Bloomberg estimate Rs 157 crore.
Margin up 195 bps at 23.55% vs 21.59% (Bloomberg estimate 23.8%).
Net profit down 3.51% at Rs 99.09 crore vs Rs 103 crore. (Bloomberg estimate Rs 104.3 crore).
KFIN Technologies (Consolidated, QoQ)
Revenue up 4.38% at Rs 228.3 crore vs Rs 219 crore.
EBIT up 6.47% at Rs 89.95 crore vs Rs 84.48 crore.
Margin up 77 bps at 39.39% vs 38.62%.
Net profit up 11.43% at Rs 74.46 crore vs Rs 66.82 crore.
Recommends final dividend of Rs 5.75 per share.
Can Fin Homes (YoY)
Total income up 21.37% at Rs 928 crore vs Rs 764 crore.
Net profit up 26.07% at Rs 209 crore vs Rs 166 crore (Bloomberg estimate Rs 206.3 crore).
Board recommended final dividend of Rs 4 per share.
Rossari Biotech (Consolidated, YoY)
Revenue up 16.31% at Rs 473 crore vs 406 crore (Bloomberg estimate Rs 485.4 crore).
Ebitda up 16.62% at Rs 63.57 crore vs Rs 54.51 crore (Bloomberg estimate Rs 66.1 crore).
Margin up 3 bps at 13.44% vs 13.41%, (Bloomberg estimate 13.6%).
Net profit up 17.7% at Rs 34.1 crore vs Rs 28.97 crore (Bloomberg estimate Rs 35.6 crore).
Stocks to Watch
NMDC: The company increased prices of lump ore by Rs 400 per tonne to Rs 6,200 per tonne and fines by Rs 200 per tonne to Rs 5,260 per tonne.
KEC International: The company received new orders worth Rs 1,036 crore across various businesses. The company has received transmission and distribution projects in the Middle East and the US.
Wipro: The company announced the launch of its own Lab45 Think Tank to help enterprise leaders and Wipro customers prepare for a future with emerging technologies. Lab45’s Think Tank will study the impact of emerging technologies such as generative AI, space technology, spatial and quantum computing, IoT, etc. on business, people, and the planet.
Tata Elxsi: Tata Power Community Development Trust has partnered with the company to drive its "Pay Autention" initiative forward.
Coromandel International: The company commenced activity to set up its 1000-crore plus phosphoric acid and sulfuric acid plants at Kakinada, Andhra Pradesh.
Rites: The company received a letter of acceptance worth $111 million from Bangladesh Railway for the supply of passenger carriages.
Rail Vikas Nigam: The KRDCL-RVNL joint venture received a letter of acceptance worth Rs 439 crore for the redevelopment of Thiruvananthapuram station.
Rashtriya Chemicals and Fertilizers: The Ministry of Chemicals approved the revised investment worth Rs 2,170 crore by the company in Talcher Fertilizers. Talcher Fertilizers is a JV between the company, GAIL, Coal India, and Fertilizer Corp.
Thomas Cook: The company and SOTC successfully operated their inaugural charter to Bhutan from Bengaluru on April 27 and the flight was operated at 100% capacity. This exceptional delivery underscores the robust demand from Bengaluru and Karnataka for premium destination experiences.
Bajel Projects: The company redesignated MD Rajesh Ganesh as MD and CEO.
IDBI Bank: The company received a tax order worth Rs 349 crore, including interest and penalty, from Maharashtra GST authorities.
PC JEWELLER: SBI seeks to withdraw the petition against the company on account of agreed settlement terms.
Capri Global Capital: The company has appointed L. V. Prabhakar as Chairman of the Board.
Listing
JNK India: The company's shares will debut on the stock exchanges on Tuesday at an issue price of Rs 415 apiece. The Rs 649.47 crore IPO was subscribed 28.13 times on its third and final day.
Bulk Deal
Protean eGov Technologies: IIFL Special Opportunities Fund sold 10 lakh shares (2.47%) at Rs 1,222 apiece, while PLUSTUS Wealth Management LLP bought 5 lakh shares (1.23%) at Rs 1,220 apiece.
Trading Tweaks
Moved into short-term ASM framework: Aegis Logistics, Kirloskar Pneumatic, Lux Industries.
Moved out of short-term ASM framework: Exicom Tele-Systems,
Price Band change from 20% to 10%: Yuken India.
F&O Cues
Nifty may futures up by 0.84% to 22,745.15 at a premium of 101.75 points.
Nifty May futures open interest up by 4.29%.
Nifty Bank May futures up by 2.45% to 49,563.85 at a premium of 139.8 points.
Nifty Bank May futures open interest up by 30.81%.
Nifty Options May 2 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 22,500.
Bank Nifty Options April 30 Expiry: Maximum Call Open Interest at 50,000 and Maximum Put open interest at 47,000.
Securities in ban period: Biocon, Idea.
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