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Stocks To Watch: Biocon, JSW Energy, Ashok Leyland, Nykaa, Ipca Labs, Adani Green, Cummins India

Stocks to watch before going into trade today.

<div class="paragraphs"><p>National Stock Exchange. (Source: Vijay Sartape/BQ Prime)</p></div>
National Stock Exchange. (Source: Vijay Sartape/BQ Prime)

Asian stocks were poised to decline Wednesday as negotiations over raising the U.S. debt ceiling remained at an impasse, sapping sentiment for risk taking.

Futures for equity benchmarks in Hong Kong, Japan and Australia were all down at least 0.5%, following drops of more than 1% for the S&P 500 and Nasdaq 100.

Contracts for the S&P 500 and the Nasdaq 100 increased about 0.3%, an index of Asian shares also rose 0.3% and Euro Stoxx 50 futures climbed 0.2%.

In the U.S., debt negotiations continued but progress appeared limited, with some House Republicans questioning the urgency of a deadline imposed by Treasury Secretary Janet Yellen for when the government will start missing debt payments.

Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.70%. Crude was trading below $77-mark, while Bitcoin advanced above 27,000-level.

At 05:42 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, down up 0.44% at 18,280.

Domestic benchmarks closed marginally higher as Adani Group stocks led the gains while private banks dragged.

Meanwhile, the Indian rupee snapped its four-day decline against U.S. dollar following marginal rise in domestic equities.

Foreign investors were net buyers for the second day and bought equities worth Rs 182.51 crore. On the other hand, domestic institutional investors were buyers for the third straight day and bought stocks worth Rs 397.29 crore, the NSE data showed.

Stocks To Watch: Biocon, JSW Energy, Ashok Leyland, Nykaa, Ipca Labs, Adani Green, Cummins India

Earnings

NMDC Q4 FY23 (Consolidated, YoY)

  • Revenue down 13.76% at Rs 5,851.37 crore (Bloomberg estimate: Rs 5,510.02 crore)

  • Ebitda down 20.63% at Rs 2,162.35 crore (Bloomberg estimate: Rs 1,993.93 crore)

  • Ebitda margin at 36.95% vs 40.15% (Bloomberg estimate: 36.2%)

  • Net profit up 21.7% at Rs 2,271.53 crore (Bloomberg estimate: Rs 1,480.20 crore)

  • The company reported exceptional income of Rs 1,237.27 crore during the period under review. The board approved Rs 2.85 per share for the fiscal 2023.

Biocon Q4 FY23 (Consolidated, YoY)

  • Revenue up 57% at Rs 3,773 crore (Bloomberg estimate: Rs 3,615 crore)

  • Ebitda up 69% to Rs 997 crore (Bloomberg estimate: Rs 862 crore)

  • Ebitda margin at 26.4% vs 24.6% (Bloomberg estimate: 23.9%)

  • Net profit up 31% to Rs 313 crore (Bloomberg estimate: Rs 270 crore)

  • The board declared a final dividend of Rs 1.50 per share for the fiscal ended 2023.

JSW Energy Q4 FY23 (Consolidated, YoY)

  • Revenue up 9.39% at Rs 2,669.97 crore (Bloomberg estimate: Rs 2,267.85 crore)

  • Ebitda down 34.14% at Rs 745.32 crore (Bloomberg estimate: Rs 605.7 crore)

  • Ebitda margin at 27.91% vs 46.37% (Bloomberg estimate: 26.7%)

  • Net profit down 67.86% at Rs 282.03 crore (Bloomberg estimate: Rs 171.15 crore)

  • The company will pay a dividend of Rs 2 per share for the fiscal 2023. It also approved reappointment of Sajjan Jindal as chairman and managing director for five years, effective Jan. 1, 2024.

Dixon Technologies Q4 FY23 (Consolidated, YoY)

  • Revenue up 3.82% at Rs 3,065.45 crore (Bloomberg estimate: Rs 2,923.87 crore)

  • Ebitda up 32.23% at Rs 156.29 crore (Bloomberg estimate: Rs 136.44 crore)

  • Ebitda margin at 5.1% vs 4% (Bloomberg estimate: 4.7%)

  • Net profit up 27.7% at Rs 80.62 crore (Bloomberg estimate: Rs 70.7 crore)

  • The board has recommended a final dividend of Rs 3 per share.

Amara Raja Batteries Q4 FY23 (Consolidated, YoY)

  • Revenue up 11.39% at Rs 2,429.44 crore (Bloomberg estimate: Rs 2,622.80 crore)

  • Ebitda up 7.79% at Rs 237.34 crore (Bloomberg estimate: Rs 378.50 crore)

  • Ebitda margin at 9.77% vs 10.1% (Bloomberg estimate: 14.4%)

  • Net profit up 41.04% at Rs 139.42 crore (Bloomberg estimate: Rs 177.2 crore)

  • The company reported net exception loss of Rs 47.65 crore in the quarter on account of a fire at its Chittoor facility. It will pay a final dividend of Rs 3.20 per share for the fiscal 2022-23.

Ashok Leyland Q4 FY23 (Standalone, YoY)

  • Revenue rose 33% to Rs 11,625.7 crore (Bloomberg estimate: Rs 11,298.31 crore)

  • Ebitda rose 64% to Rs 1,275.8 crore (Bloomberg estimate: Rs 1,168.24 crore)

  • EBITDA margin stood at 11% Vs 8.9% (Bloomberg estimate: 10.3%)

  • Net profit fell 17% to Rs 751.4 crore (Bloomberg estimate: Rs 629.16 crore)

  • The board recommended a dividend of Rs 2.60 per share for the fiscal ended 2023.

Thyrocare Technologies Q4 FY23 (Consolidated, YoY)

  • Revenue up 4.07% at Rs 135.88 crore (Bloomberg estimate: Rs 136.2 crore)

  • Ebitda down 34.32% at Rs 24.69 crore (Bloomberg estimate: Rs 33.75 crore)

  • Ebitda margin at 18.17% vs 28.79% (Bloomberg estimate: 24.8%)

  • Net profit down 41.2% at Rs 12.49 crore (Bloomberg estimate: Rs 20 crore)

Galaxy Surfactants Q4 FY23 (Consolidated, YoY)

  • Revenue down 7.45% at Rs 974.47 crore (Bloomberg estimate: Rs 1,094.65 crore)

  • Ebitda down 7.21% at Rs 134.51 crore (Bloomberg estimate: Rs 150.42 crore)

  • Ebitda margin at 13.8% vs 13.77% (Bloomberg estimate: 13.7%)

  • Net profit down 7.99% at Rs 90.53 crore (Bloomberg estimate: Rs 111.03 crore)

  • The board recommended a final dividend of Rs 4 per share for fiscal 2023.

Polyplex Corporation Q4 FY23 (Consolidated. YoY)

  • Revenue down 11.6% at Rs 1,667.07 crore

  • Ebitda down 85.39% at Rs 55.37 crore

  • Ebitda margin at 3.32% vs 20.1%

  • Net profit down 93.34% at Rs 20.27 crore

  • The company will pay a final dividend of Rs 3 per share for fiscal 2023.

Metro Brands Q4 FY23 (Consolidated, YoY)

  • Revenue up 34.97% at Rs 544.13 crore (Bloomberg estimate: Rs 528.73 crore)

  • Ebitda up 10.57% at Rs 143.56 crore (Bloomberg estimate: Rs 163.13 crore)

  • Ebitda margin at 26.38% vs 32.21% (Bloomberg estimate: 30.9%)

  • Net profit down 1.12% at Rs 68.74 crore (Bloomberg estimate: Rs 79.06 crore)

Bikaji Foods International Q4 FY23 (Consolidated, YoY)

  • Revenue up 15.49% at Rs 462.26 crore (Bloomberg estimate: Rs 511.60 crore)

  • Ebitda up 52.39% at Rs 61.84 crore (Bloomberg estimate: Rs 55.80 crore)

  • Ebitda margin at 13.38% vs 10.14% (Bloomberg estimate: 10.9%)

  • Net profit up 57.12% at Rs 38.29 crore (Bloomberg estimate: Rs 33 crore)

  • The board recommended a final dividend of Rs 0.75 per share.

Linde India Q4 FY23 (Consolidated, YoY)

  • Revenue up 17.96% at Rs 630.24 crore

  • Ebitda up 41.03% at Rs 185.75 crore

  • Ebitda margin at 29.47% vs 24.65%

  • Net profit up 50.42% at Rs 99.25 crore

  • The company announced a dividend of Rs 12 per share, including special dividend of Rs 7.5 per share, for 15 months ended March 2023.

Opinion
Adani-Hindenburg Row: GQG's Rajiv Jain Not Surprised With Supreme Court Panel Report — BQ Exclusive

Results

Hindalco Industries, Shyam Metalics and Energy, National Aluminium Co., Piramal Pharma, Cummins India, FSN E-Commerce Ventures, Avanti Feeds, Bayer CropScience, Brigade Enterprises, JB Chemicals & Pharmaceuticals, Pennar Industries, Fine Organic Industries, Garden Reach Shipbuilders & Engineers, Caplin Point Laboratories, Prudent Corporate Advisory Services, ICRA, Wonderla Holidays, Aptech, Ashoka Buildcon, Bannari Amman Sugars, Bigbloc Construction, Gujarat Pipavav Port, GRM Overseas, Hawkins Cookers, Hindware Home Innovation, India Cements, India Glycols, IRCON International, India Tourism Development Corporation, KCP, Kingfa Science & Technology (India), Lakshmi Machine Works, Life Insurance Corporation of India, Marathon Nextgen Realty, Moschip Technologies, Nava, Nesco, Oil India, Hitachi Energy India, Rupa & Company, Sadhana Nitrochem, Sanghvi Movers, Seamec, Tamil Nadu Newsprint & Papers, Trident, Titagarh Wagons, Venus Pipes & Tubes, Welspun Specialty Solutions, ZF Commercial Vehicle Control Systems India

Stocks To Watch

  • Ipca Laboratories/Lyka Labs: Ipca Laboratories has increased its shareholding in Lyka Labs by 9.76% in two tranches. It bought 44 lakh shares at Rs 139.50 apiece on March 15 and April 18. Ipca now holds 1.20 crore share of Lyka, or 36.34% of latter’s overall shareholding.

  • Wipro: The company will integrate Google Cloud’s full suite of Generative AI products and services with its own AI intellectual property to bring the same to its clients.

  • NTPC: The power company aims to add 16 GW of renewable capacity by the fiscal ended 2026, the management said during its recent earnings call.

  • Shriram Properties: The company has acquired 100% development rights for an ongoing project at Chennai through its wholly owned subsidiary Shrivision Elevations. The project has a revenue potential of Rs 1,200 crore over next five years.

  • Century Textiles: The company will raise Rs 400 crore via non-convertible debentures on private placement basis.

  • Adani Green Energy: The board meeting scheduled on May 24 to consider raising funds was cancelled due to non-availability of directors. The next date of meeting will be announced later.

  • Punjab National Bank: The bank appointed Amit Srivastava as its group chief risk officer.  

Block Deals

  • Eicher Motors: Siddhartha Lal Trust bought 28,470 shares (0.01%), Siddhartha Vikram Lal sold 28,470 shares (0.01%) at Rs 3,597 apiece.

  • Syrma SGS Technology: Norges Bank on account of the Government Pension Fund Global bought 38 lakh shares (2.15%), Union Mutual Fund bought 5.24 lakh shares (0.3%), Neuberger Berman Emerging Markets Equity Master Fund LP bought 25 lakh shares (1.41%), Sanjiv Narayan sold 15 lakh shares (0.85%), South Asia Growth Fund II Holdings, LLC sold 53.24 lakh shares (3.01%) at Rs 351.9 apiece.

  • Dish TV India: The company recommended appointment of COO Manoj Dobhal as CEO-designate in place of Anil Kumar Dua and advised management to seek prior approval of Ministry of Information and Broadcasting for his appointment as CEO.

Bulk Deals

  • SpiceJet: Nuvama Wealth Finance sold 68.4 lakh shares (1.14%) at Rs 24.88 apiece.

  • CARE Ratings: Jyotsna Gautam Kulkarni sold 1.67 lakh shares (0.56%) at Rs 668.91 apiece.

Trading Tweaks

  • Price Band Revised From 10% to 5%: Adani Wilmar

  • Price Band Revised From 20% to 10%: Refex Industries

  • Ex-Date Interim Dividend: Great Eastern Shipping Company, Manappuram Finance

  • Record Date Interim Dividend: Great Eastern Shipping Company, Manappuram Finance

  • Ex-Date Income Distribution: National Highways Infra Trust

  • Record Date Income Distribution: National Highways Infra Trust

  • Ex-Date Final Dividend: Rossari Biotech

  • Record Date Final Dividend: Rossari Biotech

  • Move Into Short-Term ASM Framework: Gland Pharma, Kaynes Technology India and Kokuyo Camlin

  • Move Out of Short-Term ASM Framework: Manorama Industries and Raymond

Who’s Meeting Whom

  • Adani Transmission: To meet analyst and investors on May 25 and June 6-7.

  • Delhivery: To meet analyst and investors on May 24

  • CreditAccess Grameen: To meet analyst and investors on May 24.

  • Maruti Suzuki India: To meet analyst and investors on May 25.

  • Bharat Forge: To meet analyst and investors on May 24.

F&O Cues

  • Nifty May futures ended at 18,358.10 a premium of 26.75 points.

  • Nifty May futures fell 11.80% and 22,832 shares in Open Interest.

  • Nifty Bank May futures ended at 43,945 a premium of 22.15 points.

  • Nifty Bank May futures fell 7.92% and 6,296 shares in Open Interest.

  • Securities added to the ban period: Indiabulls Housing Finance, Delta Corp

  • Securities removed from the ban period: L&T Finance Holdings, Manappuram Finance.

Stocks To Watch: Biocon, JSW Energy, Ashok Leyland, Nykaa, Ipca Labs, Adani Green, Cummins India

Disclaimer: AMG Media Networks Ltd., a subsidiary of Adani Enterprises Ltd., holds 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.