Stock Market Today: Sensex, Nifty Fall For The Second Day As RIL, HUL, HDFC Bank Drag
Sensex closed down 184 points or 0.31% at 59,727.01 while Nifty was lower by 47 points or 0.26% at 17,660.15.
KEY HIGHLIGHTS
FPIs Stay Net Seller For The Second Straight Day
Overseas investors in Indian equities remained net seller for the second day in a row on Tuesday.
Foreign portfolio investors offloaded equities worth 810.60 crore, according to data from the National Stock Exchange. They snapped a ten-day buying streak on Monday.
Domestic institutional investors were net buyers for the second straight day and bought stocks worth Rs 401.66 crore, the NSE data showed.
Foreign institutions have remained net sellers and have offloaded Rs 46,941.71 crore worth of stocks so far in 2023.
Yield On The 10-Year Declines
The yield on the 10-year bond closed 3 bps lower at 7.20% on Tuesday. It closed at 7.23% on Monday.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency depreciated about 7 paise to close at 82.04 against the greenback on Tuesday.
The rupee closed at 81.97 on Monday.
Source: Bloomberg
Sensex, Nifty Decline For The Second Consecutive Day
Indian equity benchmarks ended lower for the second consecutive session on Tuesday, after snapping 30-month-long winning streak on Monday. Pharmaceutical and real estate shares were the top sectoral gainers in trade, whereas, power and telecom stocks fell.
Asian markets traded lower as investors weighed Chinese data that pointed to an uneven recovery, as well as the possibility of further policy tightening by the Federal Reserve and other central banks. China’s economy grew at a faster pace last quarter than economists forecast as consumers ramped up spending, but the recovery was uneven with industrial activity relatively subdued.
Europe’s Stoxx 600 benchmark edged higher, with luxury companies seen benefiting from increased consumer spending in China. Contracts on the S&P 500 and Nasdaq 100 were little changed, after closing almost unchanged on Monday.
The S&P BSE Sensex Index closed down 184 points or 0.31% at 59,727.01 while the NSE Nifty 50 Index was lower by 47 points or 0.26% at 17,660.15.
Divi's Laboratories Ltd., HCL Technologies Ltd., Maruti Suzuki India Ltd., Nestle India Ltd., IndusInd Bank Ltd. were positively contributing to the change in the Nifty 50 Index.
Whereas, Reliance Industries Ltd., Hindustan Unilever Ltd., HDFC Bank Ltd., JSW Steel Ltd., and Power Grid Corp of India Ltd. were negatively adding to the change.
Most Adani Group company stocks declined n trade, except Adani Total Gas Ltd. which rose in trade.
The broader market indices ended higher; S&P BSE MidCap Index was up by 0.52%, whereas S&P BSE SmallCap Index was higher by 0.22%.
Eleven out of the 19 sectors compiled by BSE declined while eight sectors advanced in trade.
The market breadth was skewed in the favour of the buyers. About 1,910 stocks rose 1,623 declined, and 120 remained unchanged on the BSE.
Stocks At 52-Week High Intraday
Pharmaceutical Companies Lead The Rally
Shares of pharmaceutical companies were trading higher on Tuesday as the NSE Nifty Pharma Index rose 1.59%, as compared to a 0.40% decline in the NSE Nifty 50.
Sixteen out of the 20 constituents compiled by the gauge advanced, whereas, four stocks declined in trade.
Lupin Ltd., Divi's Laboratories Ltd., Biocon Ltd., Aurobindo Pharma Ltd., Glenmark Pharmaceuticals Ltd., Pfizer Ltd., Zydus Lifesciences Ltd., Cipla Ltd., Ipca Laboratories Ltd., Granules India Ltd., and Laurus Labs Ltd. rose over 1% in trade.
Source: NSE
Schaeffler India Shares Decline As Revenue Falls Sequentially
Shares of decline India Ltd. fell after it reported a sequential decline of 5.6% in the revenue from operations for the first quarter of the calendar year. The revenue grew 8% on an annual basis to Rs 1,693.60 crore.
As per the exchange filing, the net profit for the quarter was Rs 219.40 crore and net profit margin stood at 13%.
Shares of Schaeffler India Ltd. fell 1.99% % to Rs 2,970.5 apiece, as of 2:12 p.m., in trade on Monday compared to the decline in the benchmark, NSE Nifty 50 Index by 0.4%.
The stock declined as much as 3.11% intraday, the most in a week since April 11, 2022 . Total traded volume stood at 2.8 times its 30-day average. The relative strength index was at 55.4.
Out of the seven analysts tracking the company, three maintain a 'buy' rating, three recommend a 'hold' and one suggests to 'sell' the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential upside of 5.9%.
Source: Bloomberg, Exchange filing
European Markets Trade Higher
Tata Chemicals Falls The Most In Over Six Months On Soda Ash Price Cut
Shares of Tata Chemicals Ltd. rose after it cut the soda ash prices by 3-4% in India effective from April 17, 2023.
"The cut comes amid falling soda ash prices in China since mid-March, as the market reacts to the unexpected news of substantial capacity addition in Inner Mongolia from May 2023. We see this as an incremental negative for soda ash prices, though uncertainties remain around demand and supply and will need monitoring," said Kotak Institutional Equities in a note.
The brokerage maintains a 'buy' rating on the stock with the fair value pegged at Rs 1,210.
Shares of Tata Chemicals Ltd. fell 6.14% % to Rs 930 apiece, as of 1:09 p.m., in trade on Monday compared to the decline in the benchmark, NSE Nifty 50 Index by 0.02%.
The stock declined as much as 6.54% intraday, the most in over six months since Sept. 26, 2022 . Total traded volume stood at 14 times its 30-day average. The relative strength index was at 35.7.
Out of the nine analysts tracking the company, seven maintain a 'buy' rating, two recommend a 'hold' and three suggest to 'sell' the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential upside of 20.1%.
Source: Bloomberg, Exchange filing
Stocks In Focus: Infosys, CEAT, Tata Chemicals And More
BNP Paribas' Views On Markets & Buzzing Sectors: Talking Point
Sensex, Nifty Trade Marginally Lower As RIL, HUL JSW Steel Drag; Realty Stocks Gain
Indian equity benchmarks pared the morning gains after opening higher and held on to marginal losses through midday on Tuesday. While, the I.T. stocks were volatil, realty stocks led the rally and media stocks declined the most in trade.
Most Asian markets declined as investors focused on patches of weakness in China’s economic data even as the overall picture was solid. The possibility of further Federal Reserve policy tightening also weighed on sentiment.
Shares in mainland China eked out tiny gains, while benchmarks in Hong Kong, South Korea and Australia all declined. China’s economy grew at a faster pace last quarter than economists forecast as consumers ramped up spending, but the recovery was uneven with industrial activity relatively subdued.
Futures for European contracts pointed to gains, while U.S. equity contracts were little changed.
As of 12:18 p.m., the S&P BSE Sensex Index was down 82 points or 0.14% at 59,828.36 while the NSE Nifty 50 Index was lower by 22 points or 0.12% at 17,684.95.
Titan Co., Power Grid Corp of India Ltd., Tata Consultancy Services Ltd., JSW Steel Ltd., Hindustan Unilever Ltd., and Reliance Industries Ltd. were negatively contributing to the change in the Nifty 50 Index.
Whereas, IndusInd Bank Ltd., Maruti Suzuki India Ltd., HCL Technologies Ltd., Nestle India Ltd., and State Bank of India were positively adding to the change.
Most Adani Group company stocks declined n trade, except Adani Total Gas Ltd. which rose in trade.
The broader market indices opened higher; S&P BSE MidCap Index was up by 0.52%, whereas S&P BSE SmallCap Index was higher by 0.36%.
Seven out of the 19 sectors compiled by BSE declined while 12 sectors advanced in trade.
The market breadth was skewed in the favour of the buyers. About 1,947 stocks rose 1401 declined, and 131 remained unchanged on the BSE.
Infosys, I.T. Stocks Struggle Amid Volatility After A Day Of Steep Fall
Shares of information technology services companies were volatile in trade after I.T. majors TCS Ltd. and Infosys Ltd. reported weak numbers in the quarter ended March 2023.
IT were trading lower on Monday as the NSE Nifty IT Index declined 0.13%, as compared to a 0.14% decline in the NSE Nifty 50.
Six out of the 10 constituents compiled by the gauge advanced, whereas, Persistent Systems Ltd.,TCS Ltd., LTIMindtree Ltd., and Tech Mahindra Ltd. declined.
Coforge Ltd., Mphasis Ltd., Wipro Ltd. L&T Technology Services Ltd., and Infosys Ltd. advanced less than a percent, whereas, HCL Technologies Ltd. was up 1.85% ahead of Q4 earnings results.
Shares of Infosys Ltd. were volatile in trade on Tuesday as it suwng between gains and losses after falling the most in 3.5 years in trade on Monday.
It rose 0.18% to Rs 1,260.55 apiece, as of 11:27 a.m., in trade on Tuesday compared to the advance in the benchmark, NSE Nifty 50 Index by 0.15%.
The stock gained as much as 0.93% intraday, the most since April 12, 2023. Total traded volume stood at 1.8 times its 30-day average. The relative strength index was at 25.8, implying that the stock maybe oversold.
Out of the 49 analysts tracking the company, 31 maintain a 'buy' rating, nine recommend a 'hold' and nine suggest to 'sell' the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential upside of 18.3%.
Source: Bloomberg
Sona Comstar Shares Rise As 6.99 Lakh Shares Change Hands In Multiple Large Trades
Shares of Sona BLW Precision Forgings Ltd. rose after multiple block deals in the first half the trading session on Tuesday, as reported by Cogencis.
As of 10:40 a.m.; about 6,98,482 equity shares changed hands in multiple trades for approximately Rs 32.31 crore.
Shares of Sona BLW Precision Forgings Ltd. jumped 2.09% to Rs 468.8 apiece, as of 11:05 a.m., in trade on Monday compared to the decline in the benchmark, NSE Nifty 50 Index by 0.15%.
The stock rose as much as 2.55% intraday. Total traded volume stood at 0.4 times its 30-day average. The relative strength index was at 68.4.
Out of the 17 analysts tracking the company, 12 maintain a 'buy' rating, two recommend a 'hold' and three suggest to 'sell' the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential upside of 11%.
Source: Bloomberg, Cogencis
Rupee Weakens Against The U.S. Dollar
I.T. Stocks Trade Mixed
Shares of information technology services companies were trading lower on Monday as the NSE Nifty IT Index declined 0.34%, as compared to a 0.16% decline in the NSE Nifty 50.
Six out of the 10 constituents compiled by the gauge advanced, whereas, L&T Technology Services Ltd., TCS Ltd., LTIMindtree Ltd., and Tech Mahindra Ltd. declined.
HCL Technologies Ltd., Coforge Ltd., and Mphasis Ltd., Persistent System Ltd., Wipro Ltd. and Infosys Ltd. advanced in trade.
Source: NSE
Just Dial Climbs 7% As Q4 Profit Rises On Gains From 'Other Income'
Shares of Justdial Ltd. rose the most in 13 weeks in trade as the company reported a 11% jump in profits owing to the gains from other income of about Rs 74.1 crore, in the last quarter of the fiscal 2023.
Justdial Ltd. posted a consolidated net profit of Rs 83.6 crore in the fourth quarter of fiscal 2023, rising 11% as compared with the previous quarter.
Since its acquisition by Reliance Retail in July 2021, Justdial has witnessed a growth in profit every year. The company ended fiscal 2023 with a net profit of Rs 162.7 crore, as against a profit of Rs 70.8 crore in FY22.
Just Dial Q4 FY23 (Consolidated, QoQ)
Revenue up 5% at Rs 232.5 crore vs Rs 221.4 crore
Ebitda up 36% at Rs 33.2 crore vs Rs 24.4 crore
Net profit up 11% at Rs 83.6 crore vs Rs 75.3 crore (Inclusive of other income of Rs 74.1 crore)
Ebita margin at 14.2% vs 11%
Shares of Just Dial Bank Ltd. jumped 5.85% to Rs 687.65 apiece, as of 10:28 a.m., in trade on Monday compared to the decline in the benchmark, NSE Nifty 50 Index by 0.26%.
The stock rose as much as 7.44% intraday, the most in over 13 months since Jan. 16, 2023.
Total traded volume stood at 36.7 times its 30-day average. The relative strength index was at 80, implying that the stock maybe overbought.
Out of the 14 analysts tracking the company, 10 maintain a 'buy' rating, two recommend a 'hold' and two suggest to 'sell' the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential upside of 2%.
Source: Bloomberg, Exchange filing
Network18 Shares Fall Over 7% As Q4 Losses Widen
Shares of Network18 Media and Investments Ltd. fell the most in over three weeks after slipping into losses in the March quarter as revenue growth fell.
The media company, which is part of Reliance Industries Ltd., recorded a loss of Rs 36.78 crore in the three months ended March 31, as against a profit of Rs 61.85 crore in the year-ago period. Revenue fell 8.5% year-on-year to Rs 1,484 crore.
Network18 Media & Investments Q4 FY23 (Consolidated, YoY)
Revenue down 8.5% at Rs 1,484 crore vs Rs 1,621.09 crore
EBITDA down 78.5% at Rs 57.19 crore vs Rs 265.79 crore
EBIDTA margin at 3.85% vs 16.4%
Net loss of Rs 36.78 crore vs net profit of Rs 61.85 crore
Shares of Network18 Media and Investments Ltd. fell 2.88% to Rs 55.7 apiece, as of 10:05 a.m., in trade on Tuesday compared to the decline in the benchmark, NSE Nifty 50 Index by 0.15%.
The stock declined as much as 7.32% intraday, the most in over three weeks since March 24, 2023. Total traded volume stood at 2.6 times its 30-day average. The relative strength index was at 48.
Hathway Cable and Datacom Shares Drop Most In 11 Weeks On Reporting Losses In Q4
Shares of Hathway Cable and Datacom Ltd. plunged the most in over 11 weeks after the company reported net losses in the quarter that ended March 2023, as compared to the same quarter last year.
The company slid into losses of upto Rs 14.62 crore compared to net profit of Rs 28.42 crore in the same quarter of the previous fiscal.
Company's revenue grew by 2.41% to Rs 459.59 crore as compared to Rs 448.79 crore in the last quarter of the previous fical 2022.
Hathway Cable and Datacom Q4 FY23 (Consolidated, YoY)
Revenues up 2.41% at Rs 459.59 crore vs Rs 448.79 crore
Ebitda down 31.86% at Rs 63.1 crore vs Rs 926.1 crore
Ebitda margins at 13.73% vs 20.64%
Net loss of Rs 14.62 crore vs net profit of Rs 28.42 crore.
Shares of Hathway Cable and Datacom Ltd. fell 2.64% to Rs 12.9 apiece, as of 9:49 p.m., in trade on Tuesday compared to the decline in the benchmark, NSE Nifty 50 Index by 0.04%.
The stock declined as much as 5.28% intraday, the most in over 11 weeks since Jan. 27, 2023. Total traded volume stood at 4.6 times its 30-day average. The relative strength index was at 33.
Source: Bloomberg, Exchange filing
Angel One Shares Surge The Most On Six Weeks As Q4 Revenue Beats Estimate
Shares of Angel One Ltd. rose the most in six weeks as per the Bloomberg data as the company's revenue beat analyst estimates in the fourth quarter of the 2023 fiscal.
The company reported a 21.29% jump in its revenue on an annual basis to Rs 825.74 crore, in the quarter that ended March, 2023 as compared to Rs 680.81 crore in the same quarter of the previous fiscal. The analysts polled by Bloomberg estimated the Q4 revenue at Rs 627.83 crore.
Angel One Ltd.'s net profit also grew by 30.4% in the said quarter as compared to Rs 204.76 crore in the fourth quarter of FY22. Additionally, the board approved a final dividend of Rs 4 per share for the 2023 fiscal.
Angel One Q4 FY23 (Consolidated, YoY)
Revenues up 21.29% at Rs 825.74 crore vs Rs 680.81 crore (Bloomberg estimate: Rs 627.83 crore)
Ebitda up 29.89% at Rs 384.97 crore (Bloomberg estimate: Rs 328.97 crore)
Ebitda margin at 46.62% vs 43.53%
Net profit up 30.4% at Rs 266.91 crore vs Rs 204.76 crore
The board approved final dividend of Rs 4 per share for the 2023 fiscal.
Shares of Angel One Ltd. rose 3.93% to Rs 1,326.95 apiece, as of 9:36 p.m., in trade on Tuesday compared to the advance in the benchmark, NSE Nifty 50 Index by 0.12%.
The stock gained as much as 6.43% intraday, the most in over six weeks since March 3, 2023. Total traded volume stood at 11.4 times its 30-day average. The relative strength index was at 76, implying that the stock maybe overbought.
Eight analysts tracking the company, maintain a 'buy' rating on the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential upside of 22.3%.
Source: Bloomberg, Exchange filing
Infosys Shares Rise After Falling The Most In Three Years
Shares of Infosys Ltd. rose 0.29% to Rs 1,261.95 apiece, as of 9:25 p.m., in trade on Tuesday compared to the advance in the benchmark, NSE Nifty 50 Index by 0.11%.
The stock gained as much as 0.93% intraday, the most since April 12, 2023. Total traded volume stood at 2.3 times its 30-day average. The relative strength index was at 27, implying that the stock maybe oversold.
Out of the 49 analysts tracking the company, 31 maintain a 'buy' rating, nine recommend a 'hold' and nine suggest to 'sell' the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential upside of 17.7%.
Source: Bloomberg
Broader Markets Open Higher
The broader market indices opened higher; S&P BSE MidCap Index was up by 0.26%, whereas S&P BSE SmallCap Index was higher by 0.33%.
Sixteen out of the 20 sectors compiled by BSE advanced while four sectors declined in trade.
The market breadth was skewed in the favour of the buyers. About 1,696 stocks rose 645 declined, and 99 remained unchanged on the BSE.
Source: BSE
All Adani Group Company Stocks Advance
All Adani Group Company stocks advanced in trade with Adani Total Gas Ltd., NDTV Ltd., Adani Transmission Ltd. gaining the most.
Top Contributors To The Nifty 50 Index
Cipla Ltd/India Ltd., Sun Pharmaceutical Industries Ltd., ITC Ltd., HDFC Bank Ltd., Tata Consultancy Services Ltd., and Hindustan Unilever Ltd. were negatively contributing to the change in the Nifty 50 Index.
Whereas, Maruti Suzuki India Ltd., IndusInd Bank Ltd., Nestle India Ltd., Larsen & Toubro Ltd., Axis Bank Ltd., were positively adding to the change.
Sensex, Nifty Open With Slim Gains
Indian equity benchmarks advanced at the opening bell on Tuesday after the longest gaining streak in 30 months on Monday.
Asian stocks pared earlier losses after data from China showed the economic recovery is gaining traction.
Shares on mainland China eked out gains, while benchmarks in Hong Kong, South Korea and Australia trimmed their declines. China’s economy grew at a faster pace than expected in the first quarter as consumers ramped up spending following an end of Covid restrictions.
The possibility of further Federal Reserve policy tightening constrained U.S. stocks on Monday, with the S&P 500 erasing losses in afternoon trading and the tech-heavy Nasdaq 100 underperforming major equity benchmarks.
At pre-open, the S&P BSE Sensex Index was up 81 points or 0.13% at 59,991.38 while the NSE Nifty 50 Index was higher by 60 points or 0.34% at 17,766.60.
Sensex, Nifty Rise At Pre-Open
At pre-open, the S&P BSE Sensex Index was up 81 points or 0.13% at 59,991.38 while the NSE Nifty 50 Index was higher by 60 points or 0.34% at 17,766.60.
Source: Bloomberg
Yield On The 10-Year Bond Flat
The yield on the 10-year bond opened flat at 7.24% on Tuesday.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency depreciated about 4 paise to open at 82.01 against the greenback on Tuesday.
The rupee closed at 81.97 on Monday.
Source: Bloomberg
Nifty Breadth Remained Weak Despite Positive Close: Trade Setup
Global Cues
U.S. Dollar Index at 102
U.S. 10-year bond yield at 3.59%
Brent crude up 0.40% to $85.10 per barrel
Nymex crude up 0.42% to $81.17 per barrel
Dow Jones Futures up 0.03% at 34,139
S&P 500 Futures up 0.01% at 4,177
Nasdaq Futures down 0.07 at 13,177.25
SGX Nifty down 0.19% at 17,730 as of 8:12 a.m.
Bitcoin down 0.19% at $29,403.79
Trading Tweaks
Price Band Revised From 20% To 5%: Allcargo Logistics
Price Band Revised From 20% To 10%: Fertilizers and Chemicals Travancore
Price Band Revised From 40% To 20%: SEPC
Ex-Date Spin Off: Allcargo Logistics
Record Date Spin Off: Allcargo Logistics
Ex-Date Interim Dividend: Dhampur Sugar Mills, Muthoot Finance
Record Date Interim Dividend: Dhampur Sugar Mills, Muthoot Finance
Ex-Date Special Dividend: Dhampur Sugar Mills
Record Date Special Dividend: Dhampur Sugar Mills
Move Into Short-Term ASM Framework: Prime Focus
Move Out Short-Term ASM Framework: SML Isuzu
Bulk Deals
360 One Wam: FIH Mauritius Investments sold 49.96 lakh shares (1.4%) at Rs 420.03 apiece.
Block Deals
Zee Entertainment Enterprises: Segantii India Mauritius bought 90.2 lakh shares (0.94%), Morgan Stanley Asia Singapore bought 1.58 crore shares (1.65%), Goldman Sachs Singapore Pte ODI bought 64.2 lakh shares (0.67%), OFI Global China Fund sold 4.91 crore shares (5.11%) at Rs 2.04.5 apiece.
Poonawalla Fincorp: ABSL Umbrella UCITS Fund bought 3.56 lakh shares (0.04%), Aditya Birla Sun Life Mutual Fund bought 72.94 lakh shares (0.94%), Plutus Wealth Management bought 17.24 lakh shares (0.22%), Sanjay Chamria sold 83 lakh shares (1.08%) and Mayank Poddar sold 17 lakh shares (0.22%) at Rs 290 apiece.
Offerings: Avalon Technologies Listing
Avalon Technologies: The shares of the electronics manufacturer will be listed on the stock exchanges on April 18. The issue price for the same has been pegged at Rs 436 per share. The company’s initial share sale, which continued from April 3 to 6, was subscribed 2.21 times, with institutional investors leading demand.
Stocks To Watch: Jubilant Food, Bank of Maharashtra, Kolte-Patil, Subex, IIFL Finance In Focus
Jubilant FoodWorks: Coca-Cola India acquired a 15% stake in the company’s associate Hashtag Loyalty, which raised Rs 104.68 crore at a pre-money valuation. The company’s stake in Hashtag has been reduced to 29.75% from 35%.
Bank of Maharashtra: The bank hiked lending rates for tenors across the board by 10 basis points, with effect from April 15.
Kolte-Patil Developers: The company allotted zero-coupon debentures worth Rs 206.5 crore with a tenure of 10 years to Japan’s Marubeni Corp. The funds will be used for the company’s general corporate purposes.
Subex: Vinod Kumar Padmanabhan has requested an early retirement from the office of managing director and chief executive officer. He will step down from the post at the close of business hours on May 1. Nisha Dutta will occupy the position of chief executive officer for one year, effective May 2.
IIFL Finance: The company will consider a proposal to raise funds via non-convertible debentures through private placement as well as the financial results for the three months and year ended March 2023.
Q4 Results Today
ICICI Lombard General Insurance Company, Accelya Solutions India, Schaeffler India, Tata Coffee, Crisil
Earnings Fineprint
Network18 Media & Investments Q4 FY23 (Consolidated, YoY)
Revenue down 8.5% at Rs 1,484 crore
Ebitda down 78.5% at Rs 57.19 crore
Ebitda margin at 3.85% vs 16.4%
Net loss of Rs 36.78 crore vs net profit of Rs 61.85 crore
TV18 Broadcast Q4 FY23 (Consolidated, YoY)
Revenue down 6.03% to Rs 1,405.90 crore (Bloomberg estimate: Rs 1,380 crore)
Ebitda down 69.62% to Rs 77.16 crore (Bloomberg estimate: 101.7 crore)
Ebitda margin at 5.48% vs 16.97% (Bloomberg estimate: 7.4%)
Profit down 75.49% to Rs 35.19 crore
Just Dial Q4 FY23 (Consolidated, QoQ)
Revenue up 5% at Rs 232.5 crore
Ebitda up 36% at Rs 33.2 crore
Ebitda margin at 14.2% vs 11%
Net profit up 11% at Rs 83.6 crore
The net profit includes other income of Rs 74.1 crore during the period.
Angel One Q4 FY23 (Consolidated, YoY)
Revenues up 21.29% at Rs 825.74 crore
Ebitda up 29.89% at Rs 384.97 crore
Ebitda margin at 46.62% vs 43.53%
Net profit up 30.4% at Rs 266.91 crore
The board approved final dividend of Rs 4 per share for the 2023 fiscal.
Hathway Cable and Datacom Q4 FY23 (Consolidated, YoY)
Revenues up 2.41% at Rs 459.59 crore
Ebitda down 31.86% at Rs 63.1 crore
Ebitda margins at 13.73% vs 20.64%
Net loss of Rs 14.62 crore vs net profit of Rs 28.35 crore.
The board appointed Tavinderjit Singh Panesar as CEO of the company, effective April 18, 2023.
SGX Nifty Signals A Muted Open For Benchmarks
Asian markets moved on a cautious note on Tuesday ahead of key economic data from China and after stocks on Wall Street eked out small gains late in the session.
Shares were higher in Japan, while benchmarks fell in Hong Kong, South Korea, and Australia. Much of the focus is on the strength of China’s recovery, with figures due soon projected to show the economy expanded 4% in the first quarter from a year earlier.
The yield on the 10-year Treasury note in the U.S. was trading at 3.59%. Crude oil prices traded above the $85 mark, while Bitcoin was below the $30,000 level.
At 8:12 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 0.19% at 17,730.
Benchmark indices—Sensex and Nifty—ended their nine-day long rally as weak quarterly results from IT major Infosys Ltd. weighed them down.
The Indian rupee lost its shine against the U.S. dollar, tracking weakness in domestic equities and a stronger greenback overseas.
Foreign investors turned net sellers on Monday, after a ten-day buying spree, and offloaded equities worth Rs 533.2 crore. On the other hand, domestic institutional investors turned net buyers, snapping a three-day selling streak, and mopped up stocks worth Rs 269.6 crore, according to NSE data.