Stock Market Today: All You Need To Know Going Into Trade On May 17
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Asian markets were set for a mixed start to trading while U.S. contracts posted muted gains after leaders in Washington expressed cautious optimism about a bipartisan deal after debt-ceiling talks
Stocks futures for Australia and Hong Kong fell while Japanese contracts ticked higher, indicating further gains for the country’s share benchmarks after the Topix Index closed at the highest level in 33 years on Tuesday. Wall Street strategists pointed to the country’s corporate reforms and loose monetary policy as reasons for further optimism.
U.S. stock futures traded in the green in early trading after the Nasdaq 100 managed a small advance and the broader S&P fell following a rapid decline in the final minutes of trade.
Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.53%. Crude was below $75-mark, while Bitcoin advanced above 27,000-level.
At 5:45 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 0.13% at 18,306.
Domestic benchmarks ended their two-day rally as decline in HDFC twins weighed upon the indices.
The Indian rupee gained against the U.S. dollar on the back of forex inflows and softening crude prices.
Foreign investors were net buyers for the fourteenth straight day and bought equities worth Rs 1,406.86 crore. On the other hand, domestic institutional investors turned sellers after a day and sold stocks worth Rs 886.17 crore, the NSE data showed.
Bharti Airtel Q4 Results: Key Highlights (QoQ)
Revenue up 0.47% at Rs 36,009 crore (Bloomberg estimate: Rs 36,743.82 crore)
Ebitda up 1.42% at Rs 18,982 crore (Bloomberg estimate: Rs 18,887.35 crore)
Ebitda margin at 52.17% vs 47.74% (Bloomberg estimate: 51.4%)
Net profit up 61.68% at Rs 4,226 crore (Bloomberg estimate: Rs 2,881.46 crore)
The company announced a final dividend of Rs 4 per share for the fiscal 2022-23.
Jindal Steel & Power Q4 FY23 (Consolidated, YoY)
Revenues down 4.52% at Rs 13,691.93 crore (Bloomberg estimate: Rs 13,431.82 crore)
Ebitda down 28.76% at Rs 2,187.28 crore (Bloomberg estimate: Rs 2,520.76 crore)
Ebitda margin at 15.97% vs 21.41% (Bloomberg estimate: 18.8%)
Net profit down 78.9% at Rs 465.66 crore (Bloomberg estimate: Rs 1,160.56 crore)
The company declared a final dividend of Rs 2 for the fiscal 2023.
Redington Q4 FY23 (Consolidated, YoY)
Revenues up 26.28% at Rs 21,848.59 crore (Bloomberg estimate: Rs 20,886.67 crore)
Ebitda up 10.73% at Rs 543.15 crore (Bloomberg estimate: Rs 556 crore)
Ebitda margin at 2.49% vs 2.84% (Bloomberg estimate: 2.7%)
Net profit down 7.64% at Rs 328.39 crore (Bloomberg estimate: Rs 352.68 crore)
The board approved a dividend of Rs 7.20 per share for the financial year 2022-23.
Oberoi Realty Q4 FY23 (Consolidated, YoY)
Revenue up 16.75% at Rs 961.43 crore (Bloomberg estimate: Rs 1,149.87 crore)
Ebitda up 4.81% at Rs 368.70 crore (Bloomberg estimate: Rs 600.60 crore)
Ebitda margin at 38.35% vs 42.72% (Bloomberg estimate: 52.2%)
Net profit up 106.71% at Rs 480.29 crore (Bloomberg estimate: Rs 411.69 crore)
The board approved a dividend of Rs 4 per share for the fiscal 2023. It also approved issue of non-convertible debentures worth Rs 1,500 crore on private placement basis.
Siyaram Silk Mills Q4 FY23 (Consolidated, YoY)
Revenue up 10.69% at Rs 695.43 crore
Ebitda up 3.36% at Rs 121.35 crore
Ebitda margin at 17.45% vs 18.69%
Net profit up 7.27% at Rs 88.14 crore
The board recommended a final dividend of Rs 4 per share for the fiscal ended 2023.
Amber Enterprises India Q4 FY23 (Consolidated, YoY)
Revenue up 55.04% at Rs 3,002.62 crore (Bloomberg estimate: Rs 2,130.91 crore)
Ebitda up 62.43% at Rs 203.51 crore (Bloomberg estimate: Rs 152.98 crore)
Ebitda margin at 6.78% vs 6.47% (Bloomberg estimate: 7.2%)
Net profit up 82.29% at Rs 108.10 crore (Bloomberg estimate: Rs 71.07 crore)
Metropolis Healthcare Q4 FY23 (Consolidated, YoY)
Revenue down 8% at Rs 283 crore (Bloomberg estimate: Rs 298 crore)
Ebitda down 6% to Rs 70 crore (Bloomberg estimate: Rs 75 crore)
Ebitda margin at 24.9% vs 24.5% (Bloomberg estimate: 25.2%)
Net profit down 17% to Rs 33 crore (Bloomberg estimate: Rs 38 crore)
Creditaccess Grameen (Consolidated)
Net interest income up 32.7% at Rs 689.90 crore (YoY)
Net profit up 86.4% at Rs 296.60 crore (YoY) (Bloomberg estimate: Rs 244.95 crore)
GNPA ratio at 1.21% vs 1.71% (QoQ)
NNPA ratio at 0.42% vs 0.59% (QoQ)
Q4 Results Today
Jindal Stainless, Jindal Saw, Quess Corp, JK Tyre & Industries, Thermax, Deepak Fertilisers & Petrochemicals Corporation, Endurance Technologies, Teamlease Services, Sterlite Technologies, Jubilant Foodworks, SKF India, Honeywell Automation India, Sheela Foam, Glaxosmithkline Pharmaceuticals, Timken India, Devyani International, Zydus Wellness, Railtel Corporation Of India, Restaurant Brands Asia, Eris Lifesciences, Sanghi Industries, MTAR Technologies, Anup Engineering, Electrosteel Castings, Hester Biosciences, JSW Ispat Special Products, Jyoti Resins & Adhesives, MM Forgings, Paradeep Phosphates, Permanent Magnets, REC, Sandur Manganese & Iron Ores, Shivalik Bimetal Controls, Thirumalai Chemicals, Vaibhav Global, Whirlpool Of India
Stocks To Watch: Airtel, Paytm, JSPL, Metropolis Healthcare, Jindal Stainless, Zydus In Focus
Bharat Petroleum Corporation: The company will set up an ethylene cracker project at Bina Refinery in Madhya Pradesh with a capex outlay of Rs 49,000 crore. It will set up 50 MW wind power plant for captive consumption at Bina Refinery and Mumbai Refinery in Maharashtra, with total project cost of Rs 978 crore. It will also build petroleum oil lubricants and lube oil base stock storage installations worth Rs 1,903 crore, with receipt pipelines at Rasayani in Maharashtra.
MRF: The company has signed a purchase agreement with First Energy 4 for acquisition of 19.1% stake and purchasing solar power. The acquisition will be done for a cash consideration of Rs 1,3.09 crore.
Aurobindo Pharma: The company received tentative approval from U.S. FDA for its Abacavir tablets, used in treatment of HIV infection.
KPI Green Energy: The company and its subsidiary KPIG Energia received commissioning certificates from Gujarat Energy Development Agency for solar power projects with a cumulative capacity of 10.18 MW, to be set up for five clients.
One 97 Communications: The parent company of Paytm appointed Bhavesh Gupta as president and chief operating officer.
Reliance Industries: Jio-bp, the fuel vending joint venture between Reliance Industries and bp, launched premium diesel fuel at a price below that charged by state-run oil companies.
Who’s Meeting Whom
Mahindra Logistics: To meet analysts and investors in May 17.
Som Distilleries and Breweries: To meet analysts and investors in May 17.
Nazara Technologies: To meet analysts and investors in May 17, May 19 and May 22.
Shoppers Stop: To meet analysts and investors in May 17.
Symphony: To meet analysts and investors in May 17.
Zomato Starts Its Own UPI Offering
Ex-Date Final Dividend: Foseco India
Ex-Date Special Dividend: Foseco India
Move Into Short-Term ASM Framework: Zensar Technologies
Move Out of Short-Term ASM Framework: Vadilal Industries, Black Box, SML Isuzu.
Pledge Share Details
Steel Exchange India: Promoter group Umashiv Garments revoked a pledge of 1 crore shares, promoter group Vizag Profiles revoked a pledge of 1 crore, promoter group Umashiv Garments created a pledge of 1 crore between May 10-11.
Ethos: Promoter Yashovardhan Saboo sold 1.50 lakh shares, promoter group Anuradha Saboo sold 50,000 shares on May 15.
Nifty May futures ended at 18,325.10, a discount of 92.45 points.
Nifty May futures fell 0.07% and 173 shares in Open Interest.
Nifty Bank May futures ended at 43,880.65, a discount of 119.15 points.
Nifty Bank May futures fell 3.11% and 2,892 shares in Open Interest.
Securities added to the ban period: Balrampur Chini Mills, Punjab National Bank, Gujarat Narmada Valley Fertilizers & Chemicals, Delta Corp
Securities removed from the ban period: Bharat Heavy Electricals
Money Market Updates
Rupee closed 0.43% higher against the U.S. dollar at Rs 81.83 on Tuesday, compared to Monday’s close of 82.18.
Jindal Stainless - Transient Decline Provides Fresh Opportunity: ICICI Securities
India Healthcare - Weathered Storms To Emerge Stronger: ICICI Securities Re-Initiates Coverage
Equitas Small Finance Bank — Poised To Tap Growth Opportunities In MFI, SFB Loans: HDFC Securities
Infra Sector - NHAI Awards 6,003 Km Of Highway Projects In FY23; Asset Monetisation In Focus: Motilal Oswal