Stocks To Watch Today: Gland Pharma, JSPL, JSW Energy, TVS Motor, L&T Technology

Stocks and bonds fell Friday after Federal Reserve Chair Jerome Powell hinted a two or more half percentage-point interest-rate increases in the upcoming policy meeting. Powell said a 50bps rake hike will be on the table for the May Bank at an IMF-hosted panel on Thursday.

A possible three consecutive half-point Fed interest-rate hikes would represent the sharpest tightening in 40 years.

Shares declined in Japan, Australia and South Korea, while U.S. futures fell, after Wall Street logged losses, dragged by energy and technology stocks. The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, fell over 1% to 17,220 points as of 6:40 a.m.

The dollar held a rally and Nymex crude remained above $103 a barrel. Bitcoin hovered around $40,500.

• Jindal Steel and Power: The company said that its offices in in Delhi and Gurugram were visited by officials from Enforcement Directorate for seeking business related information.

• JSW Energy: The company’s subsidiary JSW Neo Energy has signed a memorandum of understanding with Government of Telangana for setting up 1,500 MW capacity of Hydro Pumped Storage Project.

• RailTel: The company has received a work order from National Informatics Centre Services Incorporated in relation to assignment of work of immigration visa and foreigner registration and tracking at a total cost of Rs. 29.75 crore.

• TVS Motor: The company will invest an addition £100 million in Norton Motorcycle, which was acquired in 2020.

• L&T Technology Services: The company was awarded over $100 million electric air mobility deal from Jaunt Air Mobility. As part of the contract, LTTS will open an Engineering and R&D Centre in Québec Province for the next-gen electric aircraft manufacturer to provide engineering services for the Jaunt Journey eVTOL air taxi.

• 3I Infotech: The company signed a premium high margin Digital Business Process Services transformational deal worth Rs 12 crore with an insurance company.

• NTPC: Collaborates with Delhi Jal Board to convert waste into energy.

Earnings: Hindustan Zinc, MMTC, Tata Metaliks, Tejas Networks

HCL Technologies Q4 FY22 (Consolidated, QoQ)

• Revenue up 1.19% at Rs 22,597 crore Vs Rs 22,331 crore (Bloomberg Estimate: Rs 22,669.9 crore)

• EBIT fell Rs 4.42% at Rs 4,069 crore Vs Rs 4,257 crore (Bloomberg Estimate: Rs 4,128.7 crore)

• EBIT margin 18% Vs 19.1% (Bloomberg Estimate: 18.21%)

• Net profit up 4.39% at Rs 3,593 crore Vs Rs 3,442 crore (Bloomberg Estimate: 3,354.3 crore)

ICICI Lombard Q4 FY22 (Consolidated, YoY)

• Revenue up 33% at Rs 4,636 crore Vs Rs 3,489 crore

• Net premiums up 27% at Rs 3,318 crore Vs Rs 2,616 crore

• EBITDA up 29% at Rs 1,010 crore Vs Rs 782 crore

• EBITDA margin at 21.8% Vs 22.4%

• Solvency ratio at 2.46 Vs 2.9

• Approved dividend of Rs 5 per share of face value of Rs 10

Tata Communications Q4 FY22 (Consolidated, QoQ)

• Revenue up 4.8% at Rs 1,725.28 crore Vs Rs 1,657.7 crore

• EBITDA fell 12.3% at Rs 443.58 crore Vs Rs 505.74 crore

• EBITDA margin 25.71% Vs 30.51%

• Net profit up 58% at Rs 356.5 crore Vs Rs 225.51 crore

• Approved final dividend of Rs 20.7 per share.

L&T Technology Services Q4 FY22 (Consolidated, QoQ)

• Revenue up 4.07% at Rs 1,756.1 crore Vs Rs 1,687.5 crore

• EBIT up 4.13% at Rs 327.4 crore Vs Rs 314.4 crore

• EBIT Margin 18.64% Vs 18.63%

• Net profit up 5.31% at Rs 262 crore Vs Rs 248.8 crore

• Approved final dividend of Rs 15 per share of face value of Rs 2

• Approved scheme of amalgamation of Esencia Technologies, Graphene Semiconductor Services and Seastar Labs with the company.

Cyient Q4 FY22 (Consolidated, QoQ)

• Revenue fell 0.19% at Rs 1,181.2 crore Vs Rs 1,183.4 crore

• EBIT Margin up 3.86% at Rs 169.5 crore Vs Rs 163.2 crore

• EBIT Margin 14.35% Vs 13.79%

• Net profit up 17% at Rs 154.2 crore Vs Rs 131.8 crore

Rallis India Q4 FY22 (Consolidated, YoY)

• Revenue up 7.7% at Rs 507.54 crore Vs Rs 471.26 crore

• EBITDA fell 116.03% at a negative Rs 2.84 crore Vs Rs 17.72 crore

• EBIT Margin -0.56% Vs 3.76%

• Net loss at Rs 14.19 crore Vs Net profit of Rs 8.12 crore

• Approved dividend of Rs 3 per share.

Crisil Q4 FY22 (Consolidated, QoQ)

• Revenue fell 15.7% at Rs 595 crore Vs Rs 706 crore

• EBIT fell 10.4% at Rs 151.04 crore Vs Rs 167.89 crore

• EBIT margin 25.39% Vs 23.78

• Net profit fell 28% at Rs 121.62 crore Vs Rs 168.63 crore

• Max Financial Services: Max Ventures Investment Holding created a pledge on 50,000 shares on April 19.

• Mangalore Chemicals & Fertilizers: Zuari Agro revoked a pledge on 8 lakh shares on April 19.

• Gland Pharma: Nicomac Machinery sold 53.79 lakh shares (3.27%) as Rs 3,200.66 apiece.

• HBL Power Systems Limited: Banyantree Growth Capital sold 18 lakhs shares (0.65%) at Rs 69.77 apiece

Price Band Revised From 10% To 5%: Alkali Metals, VIP Clothing

Price Band Revised From 20% To 10%: Archies, Chennai Petroleum, MRPL

Price Band Revised From 20% To 5%: Walchandnagar Industries

Ex-Date Buyback: GAIL

Ex-Date Interim Dividend: Nestle India

Move Into Short-Term ASM Framework: Navkar Corporation, Time Technoplast

Move Out Of Short-Term ASM Framework: Lyka Labs, Mindteck (India), Jaiprakash Associates, Siti Networks