Stocks To Watch: UltraTech, Maruti Suzuki, HCLTech, ICICI Bank, Yes Bank
Here are the stocks to watch before going into trade today.
The stocks of Maruti Suzuki Ltd., HCLTech Ltd., Yes Bank Ltd. and ICICI Bank Ltd. will be in focus after it announced its quarterly earnings. In addition, UltraTech Cement Ltd., Tata Chemicals Ltd. and KPIT Technologies Ltd. will be in the spotlight as it announces its quarterly results.
AU Small Finance Bank Ltd. and Equitas Small Finance Bank Ltd. will also be in focus after the Reserve Bank of India issued guidelines on Friday for SFBs that are looking to convert into universal banks through on-tap licensing.
Adani Global Ltd., Mauritius, has acquired a 49% stake in Adani Esyasoft Smart Solutions Ltd., Abu Dhabi, from UAE-based Esyasoft Holding Ltd. for $24,500 or about Rs 20 lakh, it said in an exchange filing on Friday.
Most markets in Asia-Pacific region extended gains on Monday as stocks on Wall Street after the Federal Reserve's preferred inflation gauge rose in line with expectation.
The KOSPI index was trading 17.33 points or 0.65% higher at 2,673.66, and the S&P ASX 200 was 44.30 points or 0.58% up at 7,620.20 as of 06:27 a.m.
Wall Street breathed a sigh of relief after the recent economic data did not further erode the case for rate cuts this year, Bloomberg said. A rally in the world’s largest technology companies also lifted stocks.
The S&P 500 Index and Nasdaq Composite rose by 1.02% and 2.03%, respectively, as of Friday. The Dow Jones Industrial Average rose 0.40%.
Brent crude was trading 0.77% lower at $88.81 a barrel. Gold declined 0.26% to $2,331.90 an ounce.
The GIFT Nifty was trading 13 point or 0.06% higher at 22,646.50 as of 06:30 a.m.
India's benchmark stock indices ended lower on Friday, snapping a six-day rally, as Bajaj Finance Ltd., Larsen & Toubro Ltd., and ICICI Bank dragged. However, the benchmarks on a weekly basis closed higher.
The NSE Nifty 50 settled 150.40 points, or 0.67%, lower at 22,419.95, and the S&P Sensex declined 609.28 points, or 0.82%, to end at 73,730.16.
Overseas investors remained net sellers of Indian equities on Friday for the fifth consecutive session. Foreign portfolio investors offloaded stocks worth Rs 3,408.9 crore and domestic institutional investors stayed net buyers for the fifth day and mopped up equities worth Rs 4,356.8 crore, according to provisional data from the National Stock Exchange.
The Indian currency closed 2 paise weaker against the US dollar at Rs 83.35.
Earnings Post Market Hours
Maruti Suzuki (Standalone YoY)
Revenue up 19% at Rs 38,235 crore vs Rs 32,048 crore (Bloomberg estimate of Rs 38,459 crore).
Ebitda up 40% at Rs 4,685 crore vs Rs 3,350 crore (Bloomberg estimate of Rs 4,940 crore).
Margin at 12.3% vs 10.5% (Bloomberg estimate of 12.8%).
Net profit up 48% at Rs 3,878 crore vs Rs 2,624 crore (Bloomberg estimate of Rs 3,839 crore).
Board recommended final dividend of Rs 125 per share.
SBI Life Q4FY24 (YoY)
Net premium income up 26% at Rs 25,116 crore vs Rs 19,897 crore.
Net profit up 4% YoY at Rs 811 crore vs Rs 777 crore (Bloomberg estimate of Rs 689 crore).
APE up 17% at Rs 5,330 crore vs 4550 crores.
VNB up 5% at Rs 1,510 crore vs Rs 1440 crore.
VNB margin down 3.3% at 28.3% vs 31.6%.
HCL Tech (Consolidated, QoQ)
Revenue up 0.18% at Rs 28,499 crore vs Rs 28,446 crore (Bloomberg estimate Rs 4,123 crore).
EBIT down 10.98% at Rs 5,024 crore vs Rs 5644 crore (Bloomberg estimate Rs 5,266 crore).
Margin down 221 bps at 17.62% vs 19.84% (Bloomberg estimate 18%).
Net profit down 8.18% at Rs 3,995 crore vs Rs 4,351 crore (Bloomberg estimate Rs 4,123 crore).
Board approves a dividend of Rs 18 per share.
Bajaj Holdings and Investment (Standalone, YoY)
Total income at Rs 1258 crore vs Rs 96.35 crore.
Net profit at Rs 1204 crore vs Rs 45 crore.
Board recommends final dividend of Rs 21 per share.
SBI Cards and Payment Services (YoY)
Total income up 14.24% at Rs 4474 crore vs Rs 3,916 crore, (Bloomberg estimate Rs 3,639 crore).
Net profit up 11.04% at Rs 662 crore vs Rs 596 crore, (Bloomberg estimate 577 crore).
Board declares interim dividend of Rs 2.5 per share.
Aditya Birla Sun Life AMC (Standalone, YoY)
Total income up 33.92% at Rs 434 crore vs Rs 324 crore (Bloomberg estimate Rs 347.5 crore).
Net profit up 53.74% at Rs 206.66 crore vs Rs 134.42 crore (Bloomberg estimate Rs 190 crore).
Board recommends dividend of Rs 13.5 per share.
Usha Martin (Consolidated, YoY).
Revenue down 3.07% at Rs 829 crore vs Rs 855 crore.
Ebitda down 1.59% at Rs 151 crore vs Rs 154 crore.
Margin up 27 bps at 18.27% vs 18%.
Net profit up 0.95% at Rs 106.33 crore vs Rs 105.32 crore.
Board recommends dividend of Rs 2.75 per share.
Mahindra Lifespace Developers (Consolidated, YoY)
Revenue down 94.41% at Rs 14.29 crore vs Rs 255.37 crore (Bloomberg estimate Rs 267.5 crore).
EBITDA loss at Rs 54.1 crore vs loss of Rs 27.37 crore (Bloomberg estimate Rs 11 crore).
Net profit at Rs 71.48 crore vs Rs 54 lakh (Bloomberg estimate 36.35 crore).
Board recommends final dividend of Rs 2.65 per share.
Craftsman Automation Q4 FY24 (Consolidated, YoY)
Revenue up 12.7% at Rs 1,105 crore vs Rs 980 crore
Ebitda up 9.8% at Rs 207 crore vs Rs 188 crore
Margin at 18.7% vs 19.2%
Net profit down 12.1% at Rs 70.5 crore vs Rs 80.2 crore
Note- Income Tax at 25% vs 12%
ICICI Bank Q4 FY24 (Standalone)
Net profit up 17% to Rs 10,707 crore (YoY).
Net interest income up 8% to Rs 19,093 crore (YoY).
Gross NPA was 2.16% vs 2.30% (QoQ).
Net NPA at 0.42% vs 0.44% (QoQ).
IDFC First Bank Q4 FY24 (Standalone)
Net profit up 9.8% at Rs 724 crore vs Rs 803 crore (YoY).
Net interest income up 24% to Rs 4,469 crore vs Rs 3,597 crore (YoY).
Gross NPA at 1.88% vs 2.04% (QoQ).
NNPA at 0.60% vs 0.68% (QoQ).
Jaiprakash Power Ventures
Revenue up 9.7% at Rs 1,514.83 crore
Ebitda up 3.2x at Rs 727.77 crore
Ebitda margin at 47.9% vs 16.4%
Net profit at Rs 588.79 crore vs net loss of Rs 43.99 crore
Earnings in Focus
UltraTech Cement Ltd., Trent Ltd., KPIT Technologies Ltd., Poonawala Fincorp Ltd., Tata Chemicals Ltd., Birlasoft Ltd., PNB Housing Finance Ltd., KFIN Technologies Ltd., Can Fin Homes Ltd., Shoppers Stop Ltd., Vesuvius India Ltd., Spandana Sphoorty Financial Ltd., Rossari Biotech Ltd., UCO Bank, Gillette India Ltd.
Stocks to Watch
Small Finance Banks: The RBI has invited applications from small finance banks meeting specified criteria, including a minimum net worth of Rs 1,000 crore, for becoming regular or universal banks. There are about a dozen SFBs, including AU Small Finance Bank, Equitas Small Finance Bank, and Ujjivan Small Finance Bank.
HCL Technologies: HCL Software, the software business unit of HCL Tech announced that it has been selected by the State Bank of India for their Mar Tech solution as part of SBI’s digital transformation program.
Apollo Hospitals Enterprise: The company’s arm Apollo HealthCo to raise Rs 2,475 crore from Advent International and integrate Keimed over the next 24-30 months.
Adani Enterprises: The company's Mauritius-based arm completed the acquisition of a 49% stake in Abu Dhabi-based Adani Esyasoft Smart Solutions for $24,500.
Patanjali Foods: The company received a proposal to acquire a non-food business from Patanjali Ayurved.
NDTV: The company reported a 59% growth in revenue YoY in the fourth quarter. Its digital arm witnessed a significant increase of 39% in global traffic in March 2024.
AMI Organics: The company approved raising to Rs 99 crore via preferential issue of shares.
Cipla: The company arm Cipla Health completed the purchase of cosmetics and personal care business from Ivia Beaute.
Hinduja Global Solutions: The company arm acquired a 51% stake in Seven Star Balaji Broadband. Seven Star Balaji Broadband is now the step-down arm of the company.
Macrotech Developers: NCLT has approved a resolution plan for V Hotels in which the company will pay Rs 900 crore under the resolution plan for V Hotels over 270 days; the First tranche of Rs 90 crore has already been remitted.
Lloyds Enterprises: The company has invested a 26% stake in Adithya Power.
CESC: The company has successfully acquired a 100% stake in Bhadla 3 SKP Green Ventures from SKP Green Ventures for a total sale consideration of Rs 3.84 crore. The target company is involved in developing a 300 MW capacity renewable solar park in Rajasthan.
Bulk Deal
Vodafone Idea: ATC Telecom Infrastructure sold 144 crore shares (2.95%) at Rs 12.78 apiece, while Citigroup Global Markets Mauritius bought 49.12 crore shares (0.98%) at Rs 12.7 apiece.
Trading Tweaks
Moved into short-term ASM framework: Vesuvius India
Moved out of short-term ASM framework: GMR Power and Urban Infra, Manorama Industries,
Price Band change from 20% to 10%: Kirloskar Pneumatic.
F&O Cues
Nifty May futures down by 0.35% to 22,556 at a premium of 136.05 points.
Nifty May futures open interest down by 9.2%.
Nifty Bank May futures down by 0.32% to 48,380 at a premium of 179 points.
Nifty Bank May futures open interest down by 6%.
Nifty Options May 2 Expiry: Maximum Call open interest at 23,500 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 48,000.
Securities in ban period: Idea.
Money Market Update
The Indian currency closed 2 paise weaker against the U.S. Dollar at 83.35.
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