Stocks To Watch: Coal India, CEAT, Britannia Industries, Tata Technologies, Bajaj Finance
Here are the stocks to watch before going into trade today.
The stocks of Coal India Ltd., CEAT Ltd. and Coforge Ltd. will be in focus after it announced its quarterly earnings on Thursday. In addition, Titan Ltd., Britannia Industries Ltd. and Tata Technologies Ltd. will be in the spotlight as it announce its quarterly results.
The Reserve Bank of India, on Thursday, lifted restrictions on Bajaj Finance Ltd.'s eCOM and online digital Insta EMI Card products with immediate effect, according to an exchange filing from the lender.
Max Estates Ltd. has agreed to develop a housing project in Gurugram with a gross development value of around Rs 9,000 crore.
Most benchmarks in Asia-Pacific markets rose tracking Wall Street as investors shift their focus to U.S. employment report release after Federal Reserve's policy meet.
The KOSPI index 13.37 points or 0.50% higher at 2,697.02 as of 06:38 a.m. The S&P ASX 200 was 33.80 points or 0.45% higher at 7,620.80. Markets in Japan and Mainland China are closed.
U.S. employment data will be crucial as it'll provide insight into the job market, which has been resilient, defying decade high interest rates.
The world’s biggest technology companies drove a rebound in US stocks ahead of Apple Inc.’s earnings, with Wall Street also gearing up for Friday’s jobs report, Bloomberg said.
The S&P 500 Index and Nasdaq 100 rose by 0.91% and 1.51%, respectively, as of Thursday. The Dow Jones Industrial Average rose by 0.85%.
Brent crude was trading 0.29% higher at $83.96 a barrel. Gold fell 0.04% to $2,304.73 an ounce.
The GIFT Nifty was trading 4.5 points or 0.02% higher at 22,895.50 as of 6:37 a.m.
India's benchmark equity indices ended Thursday on a positive note, with gains led by HDFC Bank Ltd. and Power Grid Corp. of India, but the upside was limited due to losses in the shares of ICICI Bank Ltd. and Kotak Mahindra Bank Ltd.
The NSE Nifty 50 ended 52.30 points up, or 0.23%, at 22,657.15, and the S&P BSE Sensex gained 128.33 points, or 0.17%, to close at 74,611.11.
Overseas investors turned net sellers on Thursday after two days of buying. Foreign portfolio investors sold stocks worth Rs 964.47 crore and domestic institutional investors stayed net buyers for the eighth day and mopped up equities worth Rs 1,352.44 crore, according to provisional data from the National Stock Exchange.
The Indian currency closed 3 paise weaker against the U.S. dollar at 83.47.
Earnings in Focus
Titan, Britannia Industries, Adani Green Energy, Godrej Properties, MRF, Mangalore Refinery and Petrochemicals, Carborundum Universal, Inox Wind, Aptus Value Housing Finance, First Source Solutions, Raymond, Go Fashion India, Aarti Drugs, Tatva Chintan Pharma Chemical, and HFCL.
Earnings Post Market Hours
Coal India - (Consolidated, YoY)
Revenue down 1.95% at Rs 37,410 crore vs Rs 38,152 crore (Bloomberg estimate Rs 36,909 crore.
Ebitda up 21.47% at Rs 11,338 crore vs Rs 9,333 crore (Bloomberg estimate of Rs 10,132 crore).
Margin up 584 bps at 30.3% vs 24.46% (Bloomberg estimate of 27.5%).
Net profit up 25.78% at Rs 8,640 crore vs Rs 6,869 crore (Bloomberg estimate Rs7,617 crore).
Board recommends final dividend of Rs 5 per share.
Coforge - (Consolidated, QOQ)
Revenue up 1.51% at Rs 2,358 crore vs Rs 2,323 crore (Bloomberg estimate 2,385 crore).
EBIT down 4.1% at Rs 301 crore vs Rs 314 crore (Bloomberg estimate Rs 372 crore).
EBIT down 74 bps margin at 12.76% vs 13.51% (Bloomberg estimate 15.61%).
Net profit down 5.6% at Rs 229 crore vs Rs 243 crore (Bloomberg estimate 280 crore).
Board approved fourth interim dividend of Rs 19 per share.
Signs share purchase agreement to acquire up to 54% stake in Cigniti Tech.
KEI Industries - (Consolidated, YoY)
Revenue up 18.76% at Rs 2319 crore vs Rs 1953 crore (Bloomberg estimate Rs 2,347 crore).
Ebitda up 20.96% at Rs 245 crore vs Rs 202 crore.
Margin up 19 bps at 10.54% vs 10.35%.
Net profit up 22% at Rs 168 crore vs Rs 138.09 crore (Bloomberg estimate Rs 172 crore).
Ajanta Pharma - (Consolidated, YoY)
Revenue up 19.53% at Rs 1,054.08 crore vs Rs 882 crore (Bloomberg estimate Rs 1,034 crore).
Ebitda up 86.32% at Rs 278 crore vs Rs 149 crore (Bloomberg estimate Rs 250 crore).
Margin up 946 bps at 26.4% vs 16.93% (Bloomberg estimate 24.1%).
Net profit up 65.82% at Rs 203 crore vs Rs 122 crore (Bloomberg estimate Rs 187 crore).
Astec Lifesciences - (Consolidated, YoY)
Revenue up 21.08% at Rs 154 crore vs Rs 127 crore (Bloomberg estimate Rs 154.2 crore).
Ebitda up 135.43% at Rs 12.69 crore vs RFs 5.39 crore (Bloomberg estimate Rs 10.4 crore).
Margin up 400 bps at 8.25% vs 4.24% (Bloomberg estimate 6.7%).
Net loss at Rs 0.96 crore vs net loss of Rs 4.97 crore (Bloomberg estimate: Net loss of Rs 1 crore).
Railtel Corp of India - (Consolidated, QoQ)
Revenue up 24.58% at Rs 833 crore vs Rs 668 crore.
Ebitda down 10.06% at Rs 116 crore vs Rs 130 crore.
Margin down 539 bps at 13.99% vs 19.39%.
Net profit up 24.76% at Rs 77.53 crore vs Rs 62.14 crore.
CIE Automotive India - (Consolidated, YoY)
Revenue down 0.55% at Rs 2427 crore vs Rs 2,440 crore (Bloomberg estimate Rs 2,441 crore).
Ebitda down 5.27% at Rs 361 crore vs Rs 381 crore, (Bloomberg estimate Rs 372 crore).
Margin down 74 bps at 14.85% vs 15.59%, (Bloomberg estimate 15.2%).
Net profit down 17.42% at Rs 231 crore vs Rs 280 crore, (Bloomberg estimate 208 crore).
Blue Dart Express - (Consolidated, YoY)
Revenue up 8.73% at Rs 1,323 crore vs Rs 1216 crore, (Bloomberg estimate Rs 1,331 crore).
Ebitda up 13.41% at Rs 226 crore vs Rs 199 crore (Bloomberg estimate Rs 193 crore).
Margin up 70 bps at 17.08% vs 16.37%, (Bloomberg estimate 14.5%).
Net profit up 12.01% at Rs 77.78 crore vs Rs 69.44 crore (Bloomberg estimate Rs 65.8 crore).
Board recommends dividend of Rs 25 per share.
JBM Auto - (Consolidated, YoY)
Revenue up 38.17% at Rs 1,332 crore vs Rs 964 crore (Bloomberg estimate Rs 1,346 crore).
Ebitda down 20.04% at Rs 65.49 crore vs Rs 81.91 crore (Bloomberg estimate Rs 156 crore).
Margin down 358 bps at 4.91% vs 8.49% (Bloomberg estimate 11.6%).
Net profit down 62.21% at Rs 10.13 crore vs Rs 26.81 crore (Bloomberg estimate Rs 48.66 crore).
CEAT - (Consolidated, YoY)
Revenue up 4.07% at Rs 2992 crore vs Rs 2875 crore (Bloomberg estimate Rs 3,055 crore).
Ebitda at Rs 392 crore vs Rs 368 crore, up 6.44% (Bloomberg estimate Rs 454 crore).
Margin up 29 bps at 13.08% vs 12.79% (Bloomberg estimate 14.9%).
Net profit down 22.76% at Rs 102.27 crore vs Rs 132.42 crore (Bloomberg estimate Rs 169 crore).
Board recommends final dividend of Rs 30 per share.
Stocks to Watch
Bajaj Finance: The Reserve Bank of India lifted restrictions on the company’s eCOM and online digital Insta EMI Card products with immediate effect.
Adani Energy: The company is in a pact with Windson Project to acquire Pointleap Projects for Rs 13.15 crore.
Max Estates: The company arm signed an agreement for a residential development project in Gurugram with a GDV potential of over Rs 9,000 crore.
UGRO Capital: The company plans to raise Rs 1,323 crore via CCDs and warrants and acquire 'MyShubhLife' for an aggregate consideration of Rs 45 crore.
Mazagon Dock Shipbuilders: The company received an international shipbuilding order worth $42 million to construct three hybrid-powered vessels.
Hindustan Unilever: HUL appointed Vipul Mathur as Executive Director, Personal Care, effective June 1st.
Wipro: The company will implement Wipro’s Medicare Prescription Payment Plan platform for the upcoming open enrollment period.
Indian Energy Exchange: The company achieved 9,044 MU overall volume in April, marking a 14.1% YoY increase, and REC volume at 618 MU, up 211% YoY.
Jubilant Pharmova: The company appointed Harsher Singh as CEO of the Radio pharma business.
Gujarat Industries Power: The company entered into a loan agreement worth 2,832 crore with the national bank for financing infrastructure and development.
Moil: The company reported April production up 22% YoY and sales up 17% YoY.
KEI Industries: The company partnered with BRUGG to produce EHV cables up to 400 kV.
Zydus Lifesciences: The company to sell shares worth Rs 282 crore of JV Bayer Zydus Pharma. Bayer Zydus Pharma to cease to be a JV of the company post the stake sale.
Birla Corporation: The company approved the restructuring of the scope of the second phase expansion of the existing capacity of the grinding cement plant in Uttar Pradesh. The expansion will feature an investment of Rs 425 crore.
Suzlon Energy: The company approved the merger of Suzlon Global Services with the company.
TVS Holdings: The company is to acquire the remaining 10.74% stake in Emerald Haven Realty from Sandwood Investments for Rs 41.16 crore.
Aptech: The board approved the amalgamation of Arm MEL Training and Assessments, Aptech Ventures, and Aptech Investment Enhancers to merge with the company.
Goodyear India: CFO Manish Mundra resigned effective June 30.
Bulk Deals
Cyient: HDFC Mutual Fund bought 11.33 lakh shares (1.02%) at Rs 1,800 apiece.
Car Trade Tech: CMDB LI sold 3.75 lakh shares (0.8%) at Rs 710.08 apiece.
Inox Green Energy Services: Sixteenth Street Asian Gems Fund bought 40 lakh shares (1.36%) at Rs 144.5 apiece.
Zaggle Prepaid Ocean Services: Ventureast Proactive Fund sold 22.27 lakh shares (1.82%) at Rs 302 apiece while ICICI Prudential Mutual fund bought 11.58 lakh shares (0.95%) at Rs 302 apiece.
Trading Tweaks
Moved out of short-term ASM framework: Bajel Projects, IRM Energy, VA Tech Wabag.
Price Band change from 20% to 5%: Semac Consultants.
Ex/record dividend: Sanofi India.
F&O Cues
Nifty May futures up by 0.27% to 22,773.95 at a premium of 125.75 points.
Nifty May futures open interest up by 2.52%.
Nifty Bank May futures down by 0.12% to 49,388.35 at a premium of 157.03 points.
Nifty Bank May futures open interest down by 4.06%.
Nifty Options May 9 Expiry: Maximum Call open interest at 23,500 and Maximum Put open interest at 22,000.
Bank Nifty Options May 8 Expiry: Maximum Call Open Interest at 49,500 and Maximum Put open interest at 49,000.
Securities in ban period: Aditya Birla Fashion, Biocon, Vodafone Idea.
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