Stock Market Today: All You Need To Know Going Into Trade On May 31

Asian markets are poised to slide Wednesday after momentum in U.S. equities faded and Congress considered the debt accord that’s needed to head off a catastrophic default.

Futures for Japan and Australia suggested small declines while contracts for Hong Kong fell more than 1%. Purchasing manager index data for China will be watched for any signs of change in the economy’s wobbly recovery, which has weighed on its share markets and currency.

The S&P 500 closed little changed Tuesday, while remaining slightly above 4,200. Energy companies dragged on the index as oil sank below $70 a barrel.

The Nasdaq 100 added 0.4% to extend this year’s surge to 31%, while ending off its high for the day as investors assessed the artificial-intelligence hype that’s boosted the index. Nvidia Corp. hovered near $1 trillion in value after announcing several AI-related products.

Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.69%. Crude declined 4% below $76-mark, while Bitcoin was below 28,000-level.

At 05:35 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, down 0.29% at 18,675.5.

Domestic benchmark indices closed in green for the fourth straight day, supported by advances in Kotak Mahindra Bank Ltd., Infosys Ltd., and Axis Bank Ltd. The Indian rupee closed lower against the U.S. dollar for the second day in a row as it faced a stronger greenback.

Foreign investors were net buyers for the seventh straight day and bought equities worth Rs 2,085.62 crore. On the other hand, domestic institutional investors turned sellers, snapping a seven-day buying streak and sold Rs 438.93 crore worth of equities.

Adani Ports and Special Economic Zone Q4 FY23 (Consolidated, YoY)

• Revenue up 40% at Rs 5,797 crore (Bloomberg estimate: Rs 5,067.4 crore)

• EBITDA up 59% at Rs 3,270.7 crore (Bloomberg estimate: Rs 3,107.2 crore)

• EBITDA margin at 56.4% vs 49.7% (Bloomberg estimate: 61.3%)

• Net profit up 5% at Rs 1,159 crore (Bloomberg estimate: Rs 1,557 crore)

• The company reported an impairment of Rs 1,273.38 crore during the March quarter on account of urgent sale of Myanmar assets, declared as exceptional items. The board recommended a dividend of Rs 5 per share for the fiscal 2023.

Aegis Logistics Q4 FY23 (Consolidated, YoY)

• Revenues up 2.42% at Rs 2,154.47 crore (Bloomberg estimate: Rs 2,238 crore)

• Ebitda up 41.6% at Rs 202.6 crore (Bloomberg estimate: Rs 223.1 crore)

• Ebitda margin at 9.4% vs 6.8% (Bloomberg estimate: 10%)

• Net profit up 56% at Rs 159.32 crore (Bloomberg estimate: Rs 132.6 crore)

• The board approved a final dividend of Rs 1.25 per share for the fiscal 2023.

Prestige Estate Projects Q4 FY23 (Consolidated, YoY)

• Revenue 9.64% at Rs 2,631.8 crore (Bloomberg estimate: Rs 1,923.5 crore)

• Ebitda up 36.5% at Rs 681.8 crore (Bloomberg estimate: Rs 431.4 crore)

• Ebitda margin at 25.9% vs 20.8% (Bloomberg estimate: 22.4%)

• Net profit down 46.5% at Rs 505.4 crore (Bloomberg estimate: Rs 132.32 crore)

• The group recorded one-time gains of Rs 11.9 crore during the quarter under review, against Rs 807.9 crore exceptional gain in the year-ago period. The board approved a final dividend of Rs 1.50 per share for the fiscal 2023. It also approved raising Rs 2,000 crore via non-convertible debentures.

Welspun Corp Q4 FY23 (Consolidated, YoY)

• Revenue up 102.4% at Rs 4,070.15 crore (Bloomberg estimate: Rs 3,150.7 crore)

• Ebitda up 490.6% at Rs 420.6 crore (Bloomberg estimate: Rs 260.1 crore)

• Ebitda margin at 10.3% vs 3.5% (Bloomberg estimate: 8.3%)

• Net profit down 8.91% at Rs 240.1 crore (Bloomberg estimate: Rs 116.1 crore)

• The company reported 89% rise in total expenses at Rs 3,835.6 crore, with finance cost rising 216% to Rs 94.7 crore and depreciation growing 44% to Rs 91.2 crore.

Torrent Pharmaceuticals Q4 FY23 (Consolidated, YoY)

• Revenue up 16.9% at Rs 2,491 crore (Bloomberg estimate: Rs 2,474.3 crore)

• Ebitda up 29.6% at Rs 727 crore (Bloomberg estimate: Rs 728.6 crore)

• Ebitda margin at 29.2% vs 26.3% (Bloomberg estimate: 29.4%)

• Net profit of Rs 287 crore vs net loss of Rs 118 crore (Bloomberg estimate: Rs 322.2 crore profit)

• The board approved raising Rs 5,000 crore via debt. The company will pay a final dividend of Rs 8 per share for the fiscal 2023.

Patanjali Foods Q4 FY23 (Standalone, YoY)

• Revenue up 18.1% at Rs 7,872.92 crore

• Ebitda down 19.6% at Rs 326.3 crore

• Ebitda margin at 4.14% vs 6.09%

• Net profit up 12.4% at Rs 263.71 crore

• The board announced a dividend of Rs 6 per share for the fiscal 2023.

Graphite India Q4 FY23 (Consolidated, YoY)

• Revenue down 3.43% at Rs 815 crore (Bloomberg estimate: Rs 722.3 crore)

• Ebitda down 29.5% at Rs 62 crore (Bloomberg estimate: Rs 82 crore)

• Ebitda margin at 7.61% vs 10.4% (Bloomberg estimate: 11.4%

• Net profit down 69.5% at Rs 29 crore (Bloomberg estimate: Rs 71.7 crore)

• The board recommended a dividend of Rs 8.50 per share for the fiscal 2023.

Action Construction Equipment Q4 FY23 (Consolidated, YoY)

• Revenue 20.2% at Rs 613.8 crore (Bloomberg estimate: Rs 561.9 crore)

• Ebitda up 55.2% at Rs 73.3 crore

• Ebita margin at 11.9% vs 9.25%

• Net profit up 33.1% at Rs 47.2 crore (Bloomberg estimate: Rs 47.2 crore)

• The company will pay a dividend of Rs 1 per share

Greenply Industries Q4 FY23 (Consolidated, YoY)

• Revenue up 4.59% at Rs 469.15 crore (Bloomberg estimate: Rs 452.6 crore)

• Ebitda up 6.85% at Rs 47.6 crore (Bloomberg estimate: Rs 38.2 crore)

• Ebitda margin at 10.1% vs 9.93% (Bloomberg estimate: 8.4%)

• Net profit down 61.8% at Rs 11.1 crore (Bloomberg estimate: Rs 18.1 crore)

• The company reported a loss of Rs 16.6 crore due to disposal of assets by Greenply Industries (Myanmar). The board recommended a dividend of Rs 0.50 per share.

Lemon Tree Hotels Q4 FY23 (Consolidated, YoY)

• Revenue up 111.4% at Rs 252.7 crore (Bloomberg estimate: Rs 250.3 crore)

• Ebitda up 385.9% at Rs 141.9 crore (Bloomberg estimate: Rs 136.5 crore)

• Ebitda margin at 56.2% vs 24.4% (Bloomberg estimate: 54.5%)

• Net profit of Rs 59 crore vs net loss of Rs 39.16 crore (Bloomberg estimate: Rs 47.6 crore)

KRBL Q4 FY23 (Consolidated, YoY)

• Revenue up 29.6% at Rs 1,279.7 crore

• Ebitda down 11.5% at Rs 143.9 crore

• Ebitda margin at 11.2% vs 16.5%

• Net profit up 8.18% at Rs 118 crore

Mankind Pharma Q4 FY23 (Consolidated, YoY)

• Revenue up 18.9% at Rs 2,052.7 crore

• Ebitda up 46.3% at Rs 416.7 crore

• Ebitda margin at 20.3% vs 16.5%

• Net profit up 52.4% at Rs 293.7 crore

• HDFC Asset Management Company: Keki Mistry has expressed the desire not to be re-appointed as non-executive director of the company, and will retire after the upcoming AGM on June 26.

• Coal India: The company will increase prices of high-grade coal by 8%, applicable across subsidiaries, leading to revenue rising by additional Rs 2,703 crore during the current fiscal.

• Mahindra & Mahindra: The company incorporated subsidiary Mahindra Last Mile Mobility to manage its three-wheeler and small commercial vehicle business. The auto major also incorporated a step-down subsidiary Icarus Hybren to run the renewable energy production and distribution business.

• Axis Bank: The board appointed former RBI deputy governor NS Vishwanathan as additional director for a period of four years, up to May 29, 2027.

• Aurobindo Pharma: The company received tentative new drug application approval from U.S. FDA for HIV drugs Dolutegravir, Entricitabine and Tenofovir Alafenamide tablets.

• Sun Pharmaceuticals Industries: The company received approval from China’s National Medical Products Administration for its new drug application of tildrakizumab injection used to treat moderate-to-severe plaque psoriasis.

• Lupin: The company entered a strategic collaboration with Enzene Biosciences to launch Cetuximab in India, used in treatment of head and neck cancer.

• Welspun Enterprises: Welspun Enterprises bought 10 lakh shares (0.72%) at Rs 151 apiece.

• Krishna Institute of Medical Sciences: General Atlantic Singapore sold 23.2 lakh shares (2.89%) at Rs 1,600 apiece.

• Kalpataru Power Transmission: Kalpataru construction sold 10 lakh shares (0.61%), Paraj Mofatraj Munot sold 73.24 lakh shares (4.50%), Kalpataru Viniyog LLP sold 13.1 lakh shares (0.80%) and ICICI Prudential Mutual Fund bought 14.95 lakh shares (0.92%) at Rs 485 apiece.

• JSW Steel: To meet analyst and investors on May 31, June 6 and June 7.

• Punjab National Bank: To meet analyst and investors on May 31.

• KPIT Technologies: To meet analyst and investors on May 31.

• One 97 Communications: To meet analyst and investors between June 5-15.

• FSN E-Commerce Ventures: To meet analyst and investors on June 16.

• Gokaldas Exports: To meet analyst and investors on May 31.

• Safari Industries (India): To meet analyst and investors on May 31.

• J.K.Cement: To meet analyst and investors on June 5 for a week.

• Ex-Date Bonus Issue: Macrotech Developers

• Record Date Bonus Issue: Macrotech Developers

• Ex-Date Interim Dividend: DB Corp

• Record Date Interim Dividend: DB Corp

• Ex-Date Dividend: State Bank of India

• Record Date Dividend: State Bank of India

• Ex-Date Income Distribution: Powergrid Infrastructure Investment Trust

• Record Date Income Distribution: Powergrid Infrastructure Investment Trust

• Move Into Short-Term ASM Framework: Schneider Electric Infrastructure, Nucleus Software Exports

• Kirloskar Oil Engines: Promoter group Ambar Gautam Kulkarni sold 64.92 lakh shares, promoter Jyotsna Gautam Kulkarni sold 12.98 crore shares, promoter group Nihal Gautam Kulkarni sold 66.52 lakh shares, promoter group Alpana Rahul Kirloskar bought 77,817 shares promoter group Mrinalini Shreekant Kirloskar sold 1.34 lakh shares, promoter group Navsai Investments bought 77,818 shares and promoter group Suman Chandrakant Kirloskar sold 21,427 shares between March 9-May 26.

• Mukand: Promoter group Baroda Industries bought 50,148 shares on May 26.

• Som Distilleries & Breweries: Promoter Arora bought 10,000 shares on May 29.

• Gati: Promoter group TCI Finance sold 25,000 shares on May 25.

• Gravita India: Promoter and director Rajat Agrawal sold 32 lakh shares on May 29.

• PSP Projects: Promoter and director Prahaladbhai S Patel bought 25,000 shares on May 26.

• Star Cements: Promoter group Rahul Chamaria sold 82,691 shares, promoter group Sachin Chamaria sold 1.08 lakh shares and promoter group Laxmi Chamaria sold one lakh shares on May 25.

• Jindal Steel & Power: Promoter group Siddeshwari Tradex created a pledge of 11 lakh shares on May 29.

• Sun Pharmaceutical Industries: Promoter group released a pledge of 1.19 lakh shares on May 06.

• Emami: Promoter group Suraj Finvest created a pledge 81 lakh shares on May 25.

• WPIL: Promoter group VN Enterprises released a pledge of 1.25 lakh shares on May 29.

• Nifty June futures ended at 18,720, a premium of 46.30 points.

• Nifty June futures rose 3.62% and 6,935 shares in Open Interest.

• Nifty Bank June futures ended at 44,496, a premium of 128.10 points.

• Nifty Bank June futures rose 1.78% and 1,475 shares in Open Interest.

• Securities added to the ban period: Nil

• Securities removed from the ban period: Nil

• Rupee closed 0.11% lower against the U.S. dollar at Rs 82.72 on Tuesday, compared to Monday’s close of 82.63.

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