All You Need To Know Going Into Trade On May 29
Here’s a quick look at all that could influence equities today.
Stocks in Asia dropped after an afternoon sell-off on Wall Street as investors gauge the warning signals flashing in the bond market, where sovereign yields have slumped to multi-year lows.
Japan’s Topix index opened 1 percent lower, with losses more modest in Australia and South Korea. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.14 percent to 11,912 as of 7 a.m.
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Here’s a quick look at all that could influence equities today.
U.S Market Check
- U.S. stocks fell to the lowest since March as a rally in 10-year Treasuries rekindled concern that a key recession signal has started to flash warnings amid what could be a protracted trade dispute with China.
- Japan’s Topix index fell 1 percent.
- Australia’s S&P/ASX 200 Index dropped 0.3 percent.
- South Korea’s Kospi index lost 0.2 percent.
- Futures on the S&P 500 fell 0.3 percent.
- Brent crude fell 0.36 percent to $68.35 per barrel.
- West Texas Intermediate crude slid 0.6 percent to $58.79 a barrel.
- Gold was at $1,281.14 an ounce.
London Metal Exchange
- Copper ended higher for the second consecutive trading session, up 0.08 percent.
- Aluminium ended higher for the third consecutive trading session, up 0.39 percent.
- Nickel resumed declined after a one-day rally, closed 1.84 percent lower.
- Lead ended little changed.
- Tin ended lower for the second day, down 0.52 percent.
- Zinc ended higher for the second consecutive trading session, up 0.08 percent.
Key Events To Watch This Week
- China provides a first peek at its May economic performance on Friday, with economists anticipating the official manufacturing PMI will tick down to 49.9 — a contraction — amid the worsening trade war with the U.S.
- U.S. first-quarter revised GDP data are due Thursday.
Stocks To Watch
- Indiabulls Housing Finance: Board said that the company has completed issuance and allotment of notes aggregating to $350 million under its Secured Euro Medium Term Note Program.
- IRB Infra Developers: Hapur Moradabad Project received an appointment date from competent authority. Toll collection and construction on the project to start from May 29. The company received work orders for operation and maintenance for project SPVs of its trust for a further period of 10 years.
- Meghmani Organics clarified that news of fire breaking out in its Dahej plant, which is being circulated in social media is fake and no incident has taken place. The company said that it has filed a police complaint in Ahmedabad. To expand it agrochemical production capacity by 10,800 MT at a cost Rs 127 crore. The project will contribute turnover of Rs 200 crore in full year of operation.
- DHFL clarified on the news of look-out notice issued against promoters stating that the promoters have not received any kind of such communication.
- Aksh Optfibre: Care Ratings changed its rating from ‘BBB’ to ‘D’. The reason for decline in rating is on-going delays in debt servicing along with ongoing development of Letter of credit. The delays are on account of stressed liquidity position primarily due to delayed realization from government customers leading to cash flow mismatches.
- Karur Vyasa Bank: Received RBI nod for appointment of NS Srinath as Part-Time Non-Executive Chairman till May 2022. The company entered in to binding term sheet with Centrum Wealth Management to establish a JV to provide wealth management services.
- Great Eastern Shipping to consider share buy-back on June 1.
- Mindtree opened its off-shore delivery centre in the U.S.
Nifty Earnings To Watch
- Power Grid Corporation of India
- Mahindra & Mahindra
Other Earnings To Watch
- Power Finance Corporation
- Aban Offshore
- Adani Enterprises
- Adani Power
- Andhra Cements
- Havells India
- Finolex Cables
- Reliance Power
- Glenmark Pharmaceuticals
- Lemon Tree Hotels
- Speciality Restaurants
- Maharashtra Seamless
- GMR Infrastructure
- V-Guard Industries
- NBCC (India)
- GPT Infraprojects
- Grindwell Norton
- IPCA Laboratories
- ISGEC Heavy Engineering
- Jagran Prakashan
- Karda Constructions
- Kiri Industries
- TTK Prestige
- Gufic Biosciences
- Gujarat Narmada Valley Fertilizers and Chemicals
- Harrisons Malayalam
- Apar Industries
- Balmer Lawrie & Company
- United Spirits
- Bharat Electronics
- Cadila Healthcare
- CIL Nova Petrochemicals
- CL Educate
- Dynamatic Technologies
- Excel Crop Care
- Excel Realty N Infra
- Fertilizers and Chemicals Travancore
- Garden Reach Shipbuilders & Engineers
- Hawkins Cookers
- Hindustan Tin Works
- IFB Industries
- India Tourism Development Corporation
- Indian Hume Pipe Company
- Indoco Remedies
- Ind-Swift Laboratories
- IOL Chemicals and Pharmaceuticals
- Kirloskar Electric Company
- Kohinoor Foods
- Max India
- MIRC Electronics
- Mishra Dhatu Nigam
- NACL Industries
- Nava Bharat Ventures
- PC Jeweller
- Rail Vikas Nigam
- Repco Home Finance
- Rico Auto Industries
- Ruchi Soya Industries
- SMS Lifesciences India
- Titagarh Wagons
- Tourism Finance Corporation of India
- Ujaas Energy
- Vadilal Industries
- Wheels India
- Zenlabs Ethica
Earnings Reaction To Watch
Shalimar Paints (Q4, YoY)
- Revenue up 48.7 percent to Rs 89.5 crore.
- Net loss of Rs 43.3 crore versus net loss of Rs 16.1 crore.
- Ebitda loss of Rs 35.5 crore versus Ebitda loss of Rs 10.3 crore.
- Exceptional loss of Rs 11.6 crore.
- Other expenses up 2.8 times to Rs 40.9 crore.
S Chand (Q4, YoY)
- Revenue down 31.4 percent to Rs 449.1 crore.
- Net profit down 45.8 percent to Rs 12.2 crore.
- Ebitda down 45.4 percent to Rs 182.7 crore.
- Margin at 40.7 percent versus 51.1 percent.
Federal Mogul Goetze India (Q4, YoY)
- Revenue down 2.3 percent to Rs 320.3 crore.
- Net profit down 20.3 percent to Rs 17.7 crore.
- Ebitda down 8.6 percent to Rs 48.7 crore.
- Margin at 15.2 percent versus 16.3 percent
- Inventory gain of Rs 18.3 crore in base quarter.
- Depreciation expenses up 23 percent to Rs 21 crore.
Himatsingka Seide (Q4, YoY)
- Revenue up 22.6 percent to Rs 690.9 crore.
- Net profit down 3.8 percent to Rs 48.4 crore.
- Ebitda up 11.8 percent to Rs 138.6 crore.
- Margin at 20.1 percent versus 22 percent.
- Deferred tax reversal of Rs 18.7 crore.
- Finance cost up 41 percent and depreciation cost up 40 percent.
KDDL (Q4, YoY)
- Revenue up 8.8 percent to Rs 150.2 crore.
- Net profit down 59.7 percent to Rs 2.5 crore.
- Ebitda down 3.8 percent to Rs 12.6 crore.
- Margin at 8.4 percent versus 9.5 percent.
- Inventory gain of Rs 11.6 crore.
Sun Pharma (Q4, YoY)
- Revenue up 2.7 percent to Rs 7,163.9 crore.
- Net profit down 52.6 percent to Rs 635.9 crore.
- Ebitda down 39.6 percent to Rs 1,016.8 crore.
- Margin at 14.2 percent versus 24.1 percent.
- Inventory gain of Rs 425.4 crore.
- RM as percent of sales at 29 percent versus 16 percent.
- India sales down 44 percent to Rs 1,101 crore.
- One-time impact of Rs 1,085 crore related to change in distribution of India business impacted topline and operational performance of the company.
- Sudhir Valia steps down from post of whole-time director to non-executive with effect from May 29.
IRB Infra (Q4, YoY)
- Revenue up 40.9 percent to Rs 1,948.3 crore.
- Net profit down 13.2 percent to Rs 208.01 crore.
- Ebitda up 15.4 percent to Rs 760.1 crore.
- Margin at 39 percent versus 47.6 percent.
NMDC (Q4, YoY)
- Revenue down 6.2 percent to Rs 3,643.3 crore.
- Net profit up 31.5 percent to Rs 1,453.8 crore.
- Ebitda up 10.1 percent to Rs 2,092.3 crore.
- Margin at 57.4 percent versus 49 percent.
- Sales volume stood flat at 10.4 MT.
Teamlease Services(Q4, QoQ)
- Revenue down 1 percent to Rs 1,168.6 crore.
- Net Income up 3 percent to Rs 26 crore.
- Ebitda up 4 percent to Rs 25.5 crore.
- Margin at 2.2 percent versus 2.1 percent.
Aurobindo Pharma (Q4, YoY)
- Revenue up 30.7 percent to Rs 5,292.2 crore.
- Net profit up 10.8 percent to Rs 585.4 crore.
- Ebitda up 31.9 percent to Rs 1.060.3 crore.
- Margin flat at 20 percent versus 19.9 percent.
- Exceptional loss of Rs 36.2 crore.
- Finance Costs up 2 times to Rs 50.1 crore.
- Board approved the amalgamation of six arms with self.
- Formulations segment revenue up 34.6 percent to Rs 4,373.6 crore.
- API segment revenue up 14.6 percent to Rs 916.8 crore.
Lakshmi Vilas Bank (Q4, YoY)
- Net Interest Income up 16.4 percent to Rs 140.2 crore.
- Net loss of Rs 264.4 crore versus net loss of Rs 622.3 crore.
- Provisions of Rs 301.2 crore versus Rs 880.4 crore.
- GNPA at 15.3 percent versus 13.95 percent. (QoQ)
- NNPA at 7.49 percent versus 7.64 percent. (QoQ)
Pfizer (Q4, YoY)
- Revenue up 3 percent to Rs 535.6 crore.
- Net profit up 4.7 percent to Rs 109.47 crore.
- Ebitda up 9 percent to Rs 150.9 crore.
- Margin at 28.2 percent versus 26.6 percent.
- Lower employee cost and stable raw material cost aided operational performance.
Ircon International (Q4, YoY)
- Revenue up 2.4 percent to Rs 1,532.8 crore.
- Net profit down 55.8 percent to Rs 95.59 crore.
- Ebitda down 32.1 percent to Rs 157.43 crore.
- Margin at 10.3 percent versus 15.5 percent.
3M India (Q4, YoY)
- Revenue up 1.5 percent to Rs 689.2 crore.
- Net profit down 37.5 percent to Rs 58.14 crore.
- Ebitda down 4.5 percent to Rs 98.1 crore.
- Margin at 14.2 percent versus 22.1 percent.
- Higher depreciation, lower other income and revenue weighed on bottom-line numbers.
- Other income was down by 74 percent (YoY).
Asian Granito (Q4, YoY)
- Revenue down 5.7 percent to Rs 369.2 crore.
- Net profit down 65.8 percent to Rs 5.8 crore.
- Ebitda down 33.7 percent to Rs 24.1 crore.
- Margin at 6.5 percent versus 9.2 percent.
Man Industries (Q4, YoY)
- Revenue down 50 percent to Rs 244.7 crore.
- Net profit down 94 percent to Rs 1.6 crore.
- Ebitda loss of Rs 10.7 crore versus Ebitda profit of Rs 61.6 crore.
Navkar Corporation (Q4, YoY)
- Revenue up 13 percent to Rs 130.1 crore.
- Net profit down 63.2 percent to Rs 10.2 crore.
- Ebitda down 23 percent to Rs 38.1 crore.
- Margin at 29.3 percent versus 43 percent.
- Finance cost up three times to Rs 12.7 crore.
- Operating expenses as percent of sales at 54 percent versus 39 percent.
Gujarat A lakhalies & Chemicals (Q4, YoY)
- Revenue up 17.7 percent to Rs 820.6 crore.
- Net profit down 23.2 percent to Rs 169.8 crore.
- Ebitda down 6.6 percent to Rs 273.5 crore.
- Margin at 33.3 percent versus 42 percent
- Other income of Rs 60 crore in base quarter.
- Board approves appointment of Vinayak Kudtarkar as CFO with effect from June 1.
Himadri Speciality Chemicals (Q4, YoY)
- Revenue up 5.9 percent to Rs 583.4 crore.
- Net profit up 1.3 percent to Rs 72.2 crore.
- Ebitda down 0.8 percent to Rs 123.3 crore.
- Margin at 21.1 percent versus 22.6 percent.
- Board re-appoints Bankey Lal Choudhary as MD till April 2020.