Stock Market Today: All You Need To Know Going Into Trade On May 19
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
A gauge of Asian equities was pulled lower by Chinese shares amid weakness in Hong Kong-listed technology stocks. US futures rose on hopes that lawmakers in Washington will avert a first-ever US default.
Shares in Australia, South Korea and Japan advanced, with the gain for the Topix placing the index on course for its best week since November and a fresh 33-year high.
Alibaba Group Holding Ltd. was among the biggest decliners in Hong Kong after sales disappointed, adding to signs that China’s post-Covid rebound is faltering. The yuan weakened further to push the offshore currency to levels not seen since late last year.
Contracts for the S&P 500 climbed after the index ended Thursday at the highest level in nine months. Nasdaq 100 futures also rose after the tech-heavy gauge rose nearly 2% in a rally that pushed down Wall Street’s fear gauge, the Cboe Volatility Index.
At 9:01 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 0.21% at 18,216.5.
Meanwhile, the U.S. stocks were trading higher even as the deadlock over raising the debt ceiling continued. The S&P 500 was up 0.3%, whereas the Nasdaq 100 rose 1% by 2:22 p.m. in New York. The yield on 10-year Treasuries advanced seven basis points to 3.64%.
Crude price dipped 1.6%, while gold price fell 1.2%. Meanwhile, Bitcoin fell 2.8% to trade around $26,600 level.
Domestic benchmarks fared poorly for the third straight day with realty, services, power, oil and gas stocks leading the decline.
The Indian rupee closed lower against the U.S. dollar for the second day as it faced a strong greenback in the overseas market and tepid domestic equities back home.
Foreign investors were net buyers for the sixteenth straight day and bought equities worth Rs 970.18 crore. On the other hand, domestic institutional investors were sellers for the third straight day and offloaded stocks worth Rs 849.96 crore, the NSE data showed.
InterGlobe Aviation Q4 FY23 Highlights (YoY):
Revenue rose 77% to Rs 14,160.60 crore (Bloomberg estimate: Rs 13,757.43 crore)
Ebitdar rose 1,627% to Rs 2,966.50 crore (Bloomberg estimate: Rs 2,635.26 crore)
Ebitdar margin stood at 20.9% vs 2.1% (Bloomberg estimate: 19.2%)
Net profit of Rs 919.20 crore vs Rs 1,681.80 crore loss (Bloomberg estimate: Rs 898.40 crore profit)
Tata Elxsi Q4 FY23 (QoQ)
Revenue up 2.47% at Rs 837.92 crore (Bloomberg estimate: Rs 868.02 crore)
EBIT up 1.43% at Rs 228.65 crore (Bloomberg estimate: Rs 237.03 crore)
EBIT margin at 27.29% vs 27.57% (Bloomberg estimate: 27.3%)
Net profit up 3.51% at Rs 201.52 crore (Bloomberg estimate: Rs 193.75 crore)
The board approved final dividend of Rs 60.60 per share for the financial year 2022-23.
UNO Minda Q4 FY23 (Consolidated, YoY)
Revenues up 19.62% at Rs 2,888.97 crore (Bloomberg estimate: Rs 3,022.15 crore)
Ebitda up 15.89% at Rs 319.28 crore (Bloomberg estimate: Rs 353.77 crore)
Ebitda margin at 11.05% vs 11.41% (Bloomberg estimate: 11.7%)
Net profit up 24.25% at Rs 194.06 crore (Bloomberg estimate: Rs 179.36 crore)
The board has recommended a final dividend of Rs 1 per share for the fiscal 2022-23. It also approved raising up to Rs 1,500 crore through issue of debt securities via public or private placement.
The board also approved investing additional €1.1 million (over Rs 9.80 crore) in wholly owned subsidiary Global Mazinkert.
PI Industries Q4 FY23 (Consolidated, YoY)
Revenue up 12.21% at Rs 1,565.60 crore (Bloomberg estimate: Rs 1,632.46 crore)
Ebitda up 12.39% at Rs 342.8 crore (Bloomberg estimate: Rs 400.88 crore)
Ebitda margin at 21.9% vs 21.86% (Bloomberg estimate: 24.6%)
Net profit up 37.28% at Rs 280.60 crore (Bloomberg estimate: Rs 312.53 crore)
The board recommended final dividend of Rs 5.50 per share.
United Spirits Q4 FY23 (Standalone, YoY)
Revenues down 0.27% at Rs 2,494 crore.
Ebitda down 21% at Rs 338 crore.
Ebitda margin at 13.6% vs 17.1%.
Net profit down 7.4% at Rs 204 crore.
Container Corporation of India Q4 FY23 (Consolidated, YoY)
Revenue rose 6% to Rs 2,184.33 crore
Ebitda rose 8% to Rs 451 crore
Ebitda margin at 20.7% vs 20.3%
Net Profit rose 8% to Rs 279.40 crore
The company declared a final dividend of Rs 2 per share for the fiscal 2023.
Bata India Q4 FY23 (Consolidated, YoY)
Revenues up 17.04% at Rs 778.59 crore
Ebitda up 12.29% at Rs 182.07 crore
Ebitda margin at 23.38% vs 24.37%
Net profit up 4.22% at Rs 65.62 crore
The board declared a final dividend of Rs 13.50 per share.
Gland Pharma Q4 FY23 (Consolidated, YoY)
Revenue down 29% at Rs 785 crore (Bloomberg estimate: Rs 1,114 crore)
Ebitda down 52% to Rs 168 crore (Bloomberg estimate: Rs 351 crore)
Ebitda margin at 21.5% vs 31.6% (Bloomberg estimate: 31.5%)
Net profit down 72% to Rs 79 crore (Bloomberg estimate: Rs 269 crore)
The company recorded an exceptional cost of Rs 56.46 crore during the quarter under review.
Krishna Institute of Medical Sciences Q4 FY23 (Consolidated, YoY)
Revenue up 54.68% at Rs 575.93 crore (Bloomberg estimate: Rs 531.20 crore)
Ebitda up 43.7% at Rs 163.23 crore (Bloomberg estimate: Rs 158.50 crore)
Ebitda margin at 28.34% vs 30.51% (Bloomberg estimate: Rs 29.8%)
Net profit up 15.59% at Rs 93.27 crore (Bloomberg estimate: Rs 83.83 crore)
Vikas Maheshwari has resigned from the position of chief financial officer of the company, effective close of business hours on May 31. A Rajender, finance controller will discharge the functions of CFO in the interim.
PTC India Financial Services Q4 FY23 (Consolidated)
Interest income down 16.19% at Rs 186.27 crore (YoY)
Net profit up 45.75% at Rs 36.41 crore (YoY)
Gross stage 3 ratio at 13.59% vs 11.99% (QoQ)
Net stage 3 ratio at 8% vs 6.93% (QoQ)
The board recommended a dividend of Rs 1 per share for the fiscal 2023.
Universal Cables Q4 FY23 (Consolidated, YoY)
Revenues down 1.91% at Rs 582.87 crore
Ebitda up 8.33% at Rs 51.77 crore
Ebitda margin at 8.88% vs 8.04%
Net profit up 31.94% at Rs 41.06 crore
The company announced a dividend of Rs 3 per share for the financial year 2022-23.
Gulf Oil Lubricants India Q4 FY23 (Consolidated, YoY)
Revenue up 23.97% at Rs 792.05 crore (Bloomberg estimate: Rs 824.65 crore)
Ebitda down 1.74% at Rs 87.54 crore (Bloomberg estimate: Rs 95.95 crore)
Ebitda margin at 11.05% vs 13.94% (Bloomberg estimate: 11.6%)
Net profit down 1.91% at Rs 62.16 crore (Bloomberg estimate: Rs 69.35 crore)
The board approved a final dividend of Rs 25 per share for the fiscal 2023.
PNB Housing Finance Q4 FY23 (Consolidated)
Interest income up 22.3% at Rs 1,589.23 crore (YoY)
Net profit up 64.73% at Rs 279.28 crore (YoY)
GNPA ratio at 3.83% vs 4.86% (QoQ)
NNPA ratio at 2.76% vs 3.22% (QoQ)
JSW Steel, NTPC, Punjab National Bank, Power Grid Corporation of India, Glenmark Pharmaceuticals, Muthoot Finance, Bandhan Bank, Alkem Laboratories, Zomato, Delhivery, JK Lakshmi Cement, Crompton Greaves Consumer Electricals, IRB Infrastructure Developers, Abbott India, Narayana Hrudayalaya, EPL, Route Mobile, VA Tech Wabag, Star Cement, Sun TV Network, Elgi Equipments, Cochin Shipyard, Vinati Organics, DB Corp, Saregama India, Rategain Travel Technologies, Arvind Smartspaces, Abans Holdings, Aditya Vision, Dalmia Bharat Sugar and Industries, Dilip Buildcon, DCX Systems, Gati, Godrej Industries, Hindustan Copper, India Infrastructure Trust, Kirloskar Oil Engines, Max Ventures And Industries, Mayur Uniquoters, Minda Corporation, Motherson Sumi Wiring India, NLC India, RPSG Ventures, Share India Securities, TAJGVK Hotels & Resorts, Ultramarine & Pigments, Valiant Organics, Waaree Renewable Technologies, Welspun Enterprises, WPIL, West Coast Paper Mills
Stocks To Watch
Pfizer: The company initiated voluntary recall of all batches of Magnex, Magnex Forte, Zosyn and Magnamycin after an out-of-specification was observed at the manufacturing facility of its contract manufacturer for the recalled products, Astral SteriTech. The recall will have an impact on the company’s revenue and profitability.
Nazara Technologies: Nodwin Gaming, a subsidiary of the company, signed definitive and binding agreements to raise $28 million (Rs 232 crore) from existing investors—Nazara, Krafton and JetSynthesys—and new ones.
Vedant Fashions: Promoter Ravi Modi Family Trust will exercise the oversubscription option in the ongoing offer for sale after the non-retail investors placed bids for 223.80% of the portion reserved for them on the first day. The promoter will offload 2.88% additional stake under the greenshoe option.
Rail Vikas Nigam: The company has formed a joint venture, Indore MMLP Pvt., with National Highways Logistics Management and Madhya Pradesh Industrial Development Corporation to build multi modal logistics parks under the Bharatmala Project. RVNL is receiving Rs 77.62 crore for rail connectivity, NHLML is receiving Rs 186.97 crore towards MMLP land, road connectivity and other works, and MPIDC is receiving Rs 88.68 crore for MMLP land.
Wipro: The company entered a five-year business partnership with ServiceNow to invest in and introduce new offerings to market to drive business transformation for clients.
South Indian Bank: The bank hiked marginal cost of funds based lending rates across tenures in the range of 5-10 basis points, effective May 20.
Rattanindia Enterprises: The company appointed Vinu Balwant Saini has chief financial officer, effective May 20.
Apollo Pipes: Homedge Infracon bought 4.84 lakh shares (1.23%) and Sanjay Gupta sold 4.84 lakh shares (1.23%) at Rs 625 apiece.
Urgo Capital: Surya Vanshi Commotrade bought 8.19 lakh shares (1.06%) at Rs 187 apiece.
JK Tyre & Industries: Navodya Enterprises sold 16.22 lakh shares (0.65%) at Rs 186.8 apiece.
Who’s Meeting Whom
Piramal Enterprises: To meet analyst and investors on May 24, 26 and 29.
Cigniti Technologies: To meet analyst and investors on May 19.
Price Band Revised From 20% to 10%: GE T&D India
Ex-Date Interim Dividend: Man Infraconstruction, Colgate-Palmolive, Home First Finance Company India, JM Financial, Advanced Enzyme Technologies, Alicon Castalloy, Rain Industries
Record Date Interim Dividend: Man Infraconstruction, Alicon Castalloy, Rain Industries
Ex-Date Final Dividend: Tata Consumer Products
Move Into Short-Term ASM Framework: Shakti Pumps (India), Kirloskar Brothers
Pledge Shares Details
Usha Martin: Promoter Brij Investments revoked of pledge 16.16 lakh shares and Promoter UMIL Share & Stock Broking Services 3.80 crore shares on May 16.
Mangalore Chemical & Fertilizers: Promoter Zuari Agro Chemicals created a pledge of 21.10 lakh shares on May 15.
Nifty May futures ended at 18,180, a discount of 44.50 points.
Nifty May futures fell 0.23% and 487 shares in Open Interest.
Nifty Bank May futures ended at 43,807, a premium of 86.60 points.
Nifty Bank May futures fell 0.36% and 301 shares in Open Interest.
Securities added to the ban period: Balrampur Chini Mills, Punjab National Bank, Gujarat Narmada Valley Fertilizers & Chemicals, Delta Corp, Aditya Birla Fashion and Retail, LIC Housing Finance, Manappuram Finance and L&T Finance Holdings
Securities removed from the ban period: Nil
Money Market Updates
Rupee closed 0.25% lower against the U.S. dollar at Rs 82.59 on Thursday, compared to Wednesday’s close of 82.39.