Stocks To Watch: Lupin, IGL, Mankind Pharma, Raymond, Castrol, Nazara, Eveready, Apollo Tyres, Godrej Agrovet

Asian equity futures pointed to a mixed start for the region’s stocks on Tuesday after U.S. shares eked out small gains as traders weighed the outlook for interest rates and debt-ceiling talks.

Contracts for Japanese stocks edged up while those for Australia and Hong Kong pointed lower. The S&P 500 ended the day fractionally higher after jumping 1.9% Friday to halt its longest losing streak since February.

Futures for the S&P 500 and Nasdaq 100 opened slightly lower in Asia. The tech-heavy Nasdaq 100 had advanced 0.25% as AI-capable chipmakers Advanced Micro Devices Inc. and Nvidia Corp. rose alongside Google-parent Alphabet Inc.

Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.51%. Crude prices rose 2% to trade above $77-mark, while Bitcoin declined below 28,000-level.

At 5:27 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 0.27% at 18,300.

Domestic benchmark indices—the BSE Sensex and NSE Nifty 50—closed over 1% higher with private banks, NBFCs, realty and auto stocks leading the rally.

The Indian rupee closed flat against the U.S. dollar after paring early gains on the back of rising crude oil prices.

Foreign investors were net buyers for the eighth day in a row and bought equities worth Rs 2,123.76 crore. On the other hand, domestic institutional investors turned buyers after a day and bought stocks worth Rs 245.27 crore, the NSE data showed.

Pidilite Industries Q4 FY23 (Consolidated, YoY)

• Revenue up 7.27% at Rs 2,689.25 crore (Bloomberg estimates: Rs 2,735.43 crore)

• Ebitda up 14.48% at Rs 459.16 crore (Bloomberg estimates: Rs 494.65 crore)

• Ebitda margin at 17.07% vs 16% (Bloomberg estimates: 18.1%)

• Net profit up 11.28% at Rs 283.03 crore (Bloomberg estimates: Rs 283.14 crore)

The board recommended a dividend of Rs 11 per share for the fiscal 2023. The company has decided to discontinue operations of the Sargent Art Division in a phased manner. The division posted a revenue of Rs 128.80 crore and loss before tax of Rs 5.2 crore in the recently concluded fiscal. Meanwhile, NK Parekh has stepped down as the non-executive vice-chairman of the company, and Apurva N Parekh has been designated as the executive vice-chairman, these changes come into effect from May 8, 2023.

Kalpataru Power Transmission Q4 FY23 (Consolidated, YoY)

• Revenue up 18.07% at Rs 4,882 crore (Bloomberg estimates: Rs 4,479.47 crore)

• Ebitda up 9.93% at Rs 332 crore (Bloomberg estimates: Rs 396.66 crore)

• Ebitda margin at 6.8% vs 7.3% (Bloomberg estimates: 8.9%)

• Net profit up 45.79% at Rs 156 crore (Bloomberg estimates: Rs 152.58 crore)

The company declared a final dividend of Rs 7 per share for the fiscal 2023. The board approved raising Rs 300 crore via non-convertible debentures in one or more tranches.

Mahanagar Gas Q4 FY23 (YoY)

• Revenue up 49.19% at Rs 1,771.81 crore (Bloomberg estimate: Rs 1634.55 crore)

• Ebitda up 80.86% at Rs 389.70 crore (Bloomberg estimate: Rs 308.94 crore)

• Ebitda margin at 21.99% vs 18.14% (Bloomberg estimate: 18.9%)

• Net profit up 103.95% at Rs 268.81 crore (Bloomberg estimate: Rs 206.35 crore)

The company approved a final dividend of Rs 16 per share for the financial year 2022-23.

Birlasoft Q4 FY23 (Consolidated, QoQ)

• Revenue up 0.36% at Rs 1,226.38 crore (Bloomberg estimate: Rs 1,217 crore)

• EBIT at Rs 146 crore versus EBIT loss of Rs 136 crore (Bloomberg estimate: Rs 143.82 crore)

• EBIT margin at 11.90% (Bloomberg estimate: 11.82%)

• Net profit at Rs 112.16 crore vs net loss of Rs 16.36 crore (Bloomberg estimate: Rs 109 crore)

The company has declared a dividend of Rs 2 per share.

Kansai Nerolac Paints Q4 FY23 (Consolidated, YoY)

• Revenue up 12.82% at Rs 1,733.59 crore (Bloomberg estimates: Rs 1,719.90 crore)

• Ebitda up 100.33% at Rs 168.12 crore (Bloomberg estimates: Rs 193.08 crore)

• Ebitda margin at 9.7% vs 5.46% (Bloomberg estimates: 11.2%)

• Net profit up 279.18% at Rs 93.77 crore (Bloomberg estimates: Rs 122.10 crore)

The company declared a dividend of Rs 2.70 per share for the fiscal 2023. The board approved issue of bonus shares in the ratio 1:2, taking the share capital from 53.89 crores share to 80.83 crore shares. Shigeki Takahara has resigned as a non-executive director, with effect from June 26, and will be replaced by Pravin D Chaudhari.

Aarti Industries Q4 FY23 (Consolidated, YoY)

• Revenue up 15.24% at Rs 1,656 crore (Bloomberg estimates: Rs 1,713.13 crore)

• Ebitda down 3.82% at Rs 252 crore (Bloomberg estimates: Rs 286.90 crore)

• Ebitda margin at 15.22% vs 18.23% (Bloomberg estimates: 16.7%)

• Net profit up 2.05% at Rs 149 crore (Bloomberg estimates: Rs 131.81 crore)

The board recommended a final dividend of Rs 1.50 per share for the fiscal ended March 2023.

Apollo Pipes Q4 FY23 (YoY)

• Revenue up 1.81% at Rs 251.94 crore (Bloomberg estimates: Rs 241 crore)

• Ebitda up 3.74% at Rs 29.43 crore (Bloomberg estimates: Rs 27.87 crore)

• Ebitda margin at 11.68% vs 11.46% (Bloomberg estimates: 11.6%)

• Net profit down 3.65% at Rs 15.03 crore (Bloomberg estimates: Rs 14.33 crore)

The company declared a final dividend of Rs 0.60 per share for the fiscal ended March 2023.

Sterling Tools Q4 FY23 (Consolidated, YoY)

• Revenue up 24.93% at Rs 211.67 crore

• Ebitda up 29.67% at Rs 22.42 crore

• Ebitda margin at 10.59% vs 10.20%

• Net profit up 13.08% at Rs 7.78 crore

The board recommended a final dividend of Rs 2 per share.

Andhra Paper Q4 FY23 (YoY)

• Revenue up 38.56% at Rs 590.16 crore

• Ebitda up 179.54% at Rs 228.61 crore

• Ebitda margin at 38.74% vs 19.2%

• Net profit up 167.93% at Rs 153.9 crore

The board of directors recommended a final dividend of Rs 12.50 per share.

Carborundum Universal Q4 FY23 (Consolidated, YoY)

• Revenue up 38% at Rs 1,199.62 crore (Bloomberg estimates: Rs 1,203.93 crore)

• Ebitda up 71.59% at Rs 190.33 crore (Bloomberg estimates: Rs 180.4 crore)

• Ebitda margin at 15.87% vs 12.76% (Bloomberg estimates: 15%)

• Net profit up 140.43% at Rs 137.12 crore (Bloomberg estimates: Rs 100.2 crore)

The directors approved a final dividend of Rs 2 per share for the fiscal 2023.

VIP Industries Q4 FY23 (Consolidated, YoY)

• Revenue up 26.6% at Rs 450.57 crore (Bloomberg estimates: Rs 477.97 crore)

• Ebitda up 97.3% at Rs 64.28 crore (Bloomberg estimates: Rs 66.23 crore)

• Ebitda margin at 14.27% vs 9.15% (Bloomberg estimates: 13.9%

• Net loss of Rs 4.26 cr vs net profit of Rs 12.39 crore (Bloomberg estimates: Rs 32.93 crore profit)

The company reported an exceptional expense of Rs 47.21 crore during the March quarter.

HFCL Q4 FY23 (Consolidated, YoY)

• Revenue up 21.13% at Rs 1,432.98 crore

• Ebitda up 24.44% at Rs 154.43 crore

• Ebitda margin at 10.78% vs 10.49%

• Net profit up 9.95% at Rs 71.82 crore

The company declared a dividend of Rs 0.20 per share, to be paid out of its profits.

Ugar Sugar Works Q4 FY23 (Consolidated, YoY)

• Revenue up 67.45% at Rs 608.47 crore

• Ebitda up 267.09% at Rs 105.06 crore

• Ebitda margin at 17.27% vs 7.88%

• Net profit up 339.76% at Rs 65.26 crore vs Rs 14.84 crore

The board recommended 50% as dividend for the fiscal 2023 out of current year’s profits.

• Apollo Tyres, Lupin, SRF, Indraprastha Gas, Nuvoco Vistas Corporation, Birla Corporation, Godrej Agrovet, Raymond, Castrol India, Westlife Foodworld, Chalet Hotels, Poly Medicure, Nazara Technologies, Shanthi Gears, Matrimony.com, Elantas Beck India, Eveready Industries India, Five-Star Business Finance, Ganesh Housing Corporation, Hatsun Agro Product, JM Financial, Jaiprakash Power Ventures, KSB, Latent View Analytics, Man Infraconstruction, Manorama Industries, Rain Industries, Reliance Infrastructure, Shipping Corporation of India, Stovec Industries, Suven Life Sciences, TD Power Systems

• Godrej Consumer Products: The company has completed the acquisition of Raymond Consumer Care by way of a slump sale.

• Greenply Industries: The company announced a joint venture with Netherlands-based Samet BV on a 1:1 shareholding basis to manufacture and sell functional furniture hardware through a manufacturing facility in India.

• Dev Information Technology: The company received an order worth Rs from Gujarat State Fertilizers & Chemicals for installation, supply, commission, implementation and maintenance of enterprise class mailing solution at the latter’s head office.

• JSW Steel: The board of directors will convene on May 19 to consider a dividend on the company’s shares, raising long-term funds via qualified institutions placement of permissible securities, issuance of non-convertible senior unsecured fixed rate bonds in the international markets and issuance of redeemable non-convertible debentures, or other permissible means.

• Ami Organics: The company’s board will meet on May 13 to consider the recommendation of a final dividend for the financial year 2022-23.

• Easy Trip Planners: The company’s board approved identification and acquisition of certain entities and companies in domestic and overseas jurisdictions to drive inorganic growth. It also approved incorporation of a wholly owned subsidiary for venturing into the general insurance business.

• Nexus Select Trust REIT: India’s first retail REIT will open on May 9, and continue till May 11. The company plans to raise Rs 3,200 crore from the maiden share sale, including fresh issuance of shares worth Rs 1,400 crore and an offer for sale portion, where shareholders will offload stake worth Rs 1,800 crore. The price band for the issue has been fixed at Rs 95-100 apiece. A day before the IPO opens, on May 8, the company raised 1,439.99 crore from 20 anchor investors.

• Mankind Pharma: The shares of the company will be listed on the exchanges on Tuesday at an issue price of Rs 1,080 per share. The IPO was subscribed 15.32 times on its final day, with institutional investors leading the demand at 49.16 times subscription. The HNI portion was subscribed 3.8 times and the retail portion was subscribed 92%.

• IndoStar Capital Finance: Carnelian Asset Advisors bought 8.2 lakh shares (0.66%) at Rs 124.40 apiece.

• Godrej Consumer Products: To meet investors and analysts on May 11.

• Om Infra: To meet investors and analysts on May 9.

• Ex-Date Interim Dividend: Oracle Financial Services Software, Ramkrishna Forgings

• Record Date Interim Dividend: Oracle Financial Services Software, Ramkrishna Forgings

• Price Band Revised From 10% To 5%: Rail Vikas Nigam

• Move Into Short-Term ASM Framework: GE T&D India, Aurionpro Solutions, Vadilal Industries

• Nifty May futures ended at 18,317.50, a premium of 187.80 points.

• Nifty May futures rose 6.79% and 13,761 shares in Open Interest.

• Nifty Bank May futures ended at 43,330, a premium of 617.80 points.

• Nifty Bank May futures rose 2.98% and 2,746 shares in Open Interest.

• Securities added to the ban period: Bharat Heavy Electricals, Manappuram Finance, Gujarat Narmada Valley Fertilizers & Chemicals

• Securities removed from the ban period: Nil

• Here Are The Top Investment Ideas For May 2023 Recommended By Motilal Oswal

• Nexus Select Trust IPO - Leading Retail Asset Platform: ICICI Direct

• Gujarat Gas — Intense Competition From Propane Is On: Prabhudas Lilladher

• Manappuram Finance - Clarifications Appear Plausible; Stock Trades Attractive: Motilal Oswal

• Vesuvius India - Focus On Aggressive Capacity Expansion: Systematix