Stocks To Watch: HUL, LTIMindtree, Axis Bank, Tata Consumer, ICICI Prudential

Tata Consumer Products Ltd. will be in focus on Wednesday after it reported a 22.53% decline in net profit and an 8.51% jump in revenue. The stocks of ICICI Prudential Life Insurance Co. and Multi Commodity Exchange of India Ltd. will also be in focus.

In addition, Axis Bank Ltd., Hindustan Unilever Ltd., and LTIMindtree Ltd. will be in the spotlight as it announces its quarterly earnings.

Mahindra and Mahindra Financial Services Ltd. on Tuesday approved raising of borrowing limit to Rs 1.3 lakh crore by way of issue of NCDs or any other securities or instrument in one or more tranches.

Ambuja Cements Ltd. has completed the acquisition of a cement grinding unit in Tamil Nadu's Tuticorin. The unit has a capacity of 1.5 million tonne per annum. The Adani Group cement-maker had entered into a definitive agreement with My Home Industries Pvt. earlier this month to buy the cement grinding unit for Rs 413.75 crore.

Markets in Asia-Pacific region rose, tracking overnight gains on Wall Street and as a declining business activity in the world's largest economy supported hopes of rate cuts by the Federal Reserve this year.

The Nikkei 225 was trading 736.35 points or 1.96% higher at 38,288.51, and the KOSPI Index was trading 44.76 points or 1.71% up at 2,667.78 as of 06:48 a.m.

Investors also wait for the Australia's inflation figure which is due to be published later today.

A rally in tech heavyweights lifted the broader US stock market, with the group’s high-stakes earnings seen by Wall Street investors as a major test of the bull run in equities, Bloomberg said.

The S&P 500 Index and Nasdaq Composite rose 1.20% and 1.59% respectively as of Tuesday. The Dow Jones Industrial Average rose 0.69%.

Brent crude was trading 0.09% higher at $88.51 a barrel. Gold fell 0.09% to $2,319.87 an ounce.

The GIFT Nifty was trading 36.5 points or 0.16% higher at 22,461.00 as of 06:43 a.m.

India's benchmark equity indices ended a little higher on Tuesday as shares of Bharti Airtel Ltd. led the gains, but the upside was limited due to losses in Reliance Industries Ltd.

The NSE Nifty 50 closed 31.60 points, or 0.14%, up at 22,368.00, while the S&P BSE Sensex ended 89.83 points, or 0.12%, higher at 73,738.45.

Overseas investors stayed net sellers on Tuesday for the second consecutive day. Foreign portfolio investors offloaded stocks worth Rs 3,044.54 crore and domestic institutional investors stayed net buyers for the second day and mopped up equities worth Rs 2,918.94 crore, according to provisional data from the National Stock Exchange.

The Indian currency strengthened by 3 paise to close at Rs 83.34 against the US dollar.

Tata Consumer Products (Consolidated, YoY)

• Revenue up 8.51% at Rs 3,927 crore vs Rs 3,619 crore (Bloomberg estimate Rs 4,003 crore).

• Ebitda up 23.04% at Rs 630 crore vs Rs 512 crore (Bloomberg estimate Rs 614 crore).

• Margin up 189 bps at 16.03% vs 14.13% (Bloomberg estimate 15.30%).

• Net profit down 22.53% at Rs 268 crore vs Rs 346 crore (Bloomberg estimate Rs 343 crore).

• Board recommends dividend of Rs 7.75 per share.

• Exceptional loss of Rs 216 crore.

ICICI Prudential (Consolidated, YoY)

• Net premium income up 17.09% at Rs 14,788 crore vs Rs 12,629 crore.

• VNB Margin 21.46% vs 31.97%.

• VNB down 26.45% Rs 776 crore vs 1,055 crores.

• APE up 9.6% Rs 3,616 crore vs 3,299 crores.

• Net profit down 25.95% at Rs 174 crore vs Rs 235 crore (Bloomberg estimate Rs 231 crore).

• Board approved the final dividend of Rs 0.6 per share.

Tata Elxsi (Consolidated, QoQ)

• Revenue down 0.91% at Rs 906 crore vs Rs 914 crore (Bloomberg estimate Rs 940 crore).

• EBIT down 4.49% at Rs 234 crore vs Rs 245 crore (Bloomberg estimate Rs 279 crore).

• Margin down 96 bps at 25.79% vs 26.76% (Bloomberg estimate Rs 29.7%).

• Net profit down 4.6% at Rs 197 crore vs Rs 206 crore (Bloomberg estimate Rs 207 crore).

• Board declared dividend of Rs 70 per share.

MCX (Consolidated, YoY)

• Total income up 29.22% at Rs 199 crore vs Rs 154 crore.

• Net profit up 1,512.29% at Rs 87.87 crore vs Rs 5.45 crore.

360 ONE WAM (Consolidated, YoY)

• Total income up 97.92% at Rs 1,051 crore vs Rs 531 crore (Bloomberg estimate Rs 477 crore).

• Net profit up 56.77% at Rs 243 crore vs Rs 155 crore (Bloomberg estimate Rs 191 crore).

• The board approved the interim dividend of 3.5 per share for financial year 2024‐25.

Cyient DLM (Consolidated, YoY)

• Revenue up 30.42% at Rs 362 crore vs Rs 277 crore (Bloomberg estimate 361 crore).

• Ebitda up 18.96% at Rs 38.01 crore vs Rs 31.95 crore (Bloomberg estimate Rs 37.2 crore).

• Margin down 101 bps at 10.5% vs 11.51% (Bloomberg estimate Rs 10.3%).

• Net profit up 80.5% at Rs 22.74 crore vs Rs 12.59 crore (Bloomberg estimate: Rs 23.85 crore).

Huhtamaki (Consolidated, YoY)

• Revenue down 7.79% at Rs 610 crore vs Rs 661.5 crore (Bloomberg estimate Rs 643.5 crore).

• Ebitda down 19.33% at Rs 41.29 crore vs Rs 51.19 crore (Bloomberg estimate Rs 37.2 crore).

• Margin down 96 bps at 6.76% vs 7.73% (Bloomberg estimate 9.7%).

• Net profit down 26.73% at Rs 26 crore vs Rs 35.49 crore (Bloomberg estimate Rs 39.2 crore).

Axis Bank Ltd., Hindustan Unilever Ltd., LTIMindtree Ltd., Dalmia Bharat Ltd., Macrotech Developers Ltd., The Indian Hotels Co., AU Small Finance Bank Ltd., Oracle Financial Services Software Ltd., Equitas Small Finance Bank Ltd., Syngene International Ltd., DCB Bank Ltd., Nippon Life India Asset Management Ltd., Supreme Petrochem Ltd., Chennai Petroleum Corp. and Anant Raj Ltd.

• Mahindra and Mahindra Financial Services: The company approved raising of borrowing limit to Rs 1.3 lakh crore from 1.1 lakh crore by way of issue of NCDs or any other securities or instrument in one or more tranches, subject to approval of the shareholders of the company.

• NHPC: The company signed a supplementary joint venture agreement with JV Partners of National High Power Test laboratory i.e., NTPC, Powergrid, DVC, CPRI, and NHPTL for the sale of a partial stake in NHPTL for a consideration of Rs 1.31 crore.

• Puravankara: The company received bids to redevelop a residential project in Mumbai project GDV estimated at Rs 2,000 crore.

• Ambuja Cement: The company completed the acquisition of a 1.5 MTPA grinding unit in Tamil Nadu.

• Rama Steel Tubes: The board approved the raising of funds up to Rs 500 crore by way of a further public offer.

• Shakti Pumps: The company further invested Rs 5.08 crore in its wholly-owned subsidiary Shakti EV Mobility. The consolidated investment is Rs 32 crore.

• Dr Reddy's Laboratories: The company issued a voluntary recall of six lots of Sapropterin Dihydrochloride powder due to decreased potency.

• Lupin: USFDA classified the company’s Aurangabad facility as Voluntary Action Indicated on its inspection from March 6-15.

• Sudarshan Chemical Industries: The company introduced a new product “Sumica Gold 42631” for domestic and international markets.

• Gokaldas Exports: The company approved the issue price of Rs 775 per share which is a discount of 1.9% on the floor price of Rs 789.99 per equity share.

• Century Plyboards: The company completed the disposal and transfer of the entire stake in Singapore-based unit CSPL. Century Ply Laos and Century Huesoulin Plywood Lao both subsidiaries of CSPL, also cease to be step-down subsidiaries of the company from the said date.

• SBI Cards: The company launched retail credit card SBI Card MILES.

• SEAMEC: The company entered an MoU with Zamil Offshore services company for an extension of the Charter Hire of Vessel “SEAMEC SWORDFISH” for a further period of 30 days with effect from 24 Apr. 2024.

• Summit Securities: The company entered into an agreement with Kojak Knits to sell Instant’s entire shareholding in its wholly owned subsidiary, Sudarshan Electronics and TV for Rs 2.27 crore.

• UCO Bank: The company’s board will meet on April 29 to consider fund raising.

• Sakuma Exports: The company successfully entered a significant contract worth Rs 150 crore for the supply of sugar to the Northeast, West Bengal, and Bihar regions.

• JNK India: The public issue was subscribed to 0.49 times on day 1. The bids were led by institutional investors (0.67 times), non-institutional investors (0.25 times), retail investors (0.48 times).

• Waaree Technologies: Camellia Tradex bought 59,150 shares (0.54%) at Rs 1804.1 apiece.

• Bandhan Bank: Marshall Wace Investment Strategies - Eureka Fund sold 1.21 crore shares (0.75%) at Rs 180.8 apiece, while Societe Generale bought 1.21 crore shares (0.75%) at Rs 180.8 apiece.

• Bank of Baroda: Societe Generale bought 3.26 crore shares (0.63%) at Rs 261.3 apiece while Marshall Wace Investment Strategies sold 3.26 crore (0.63%) at Rs 261.3 apiece.

• Manappuram Finance: Societe Generale bought 73.58 lakh shares (0.86%) at Rs 191 apiece, while Marshall Wace Investment Strategies sold 73.58 lakh shares (0.86%) at Rs 191 apiece.

• Moved into short-term ASM framework: Automotive Stampings and Assemblies, Bajel Projects, IRM Energy, VA Tech Wabag.

• Price Band change from 20% to 10%: Tejas Networks.

• Price Band change from 10% to 5%: Sterling and Wilson Renewable Energy.

• Ex/record special dividend:  Huhtamaki India.

• Ex/ record stock split: Bharat Bijlee.

• Nifty April futures up by 0.06% to 22,371.05 at a premium of 3.05 points.

• Nifty April futures open interest down by 8.8%.

• Nifty Bank April futures down by 0.06% to 47,962.2 at a discount of 8.25 points.

• Nifty Bank April futures open interest down by 28.6%.

• Nifty Options April 25 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 22,000.

• Bank Nifty Options April 24 Expiry: Maximum Call Open Interest at 48,000 and Maximum Put open interest at 47,000.

• Securities in ban period: Hindustan Copper, Idea, Zee Entertainment Enterprise.

The Indian currency strengthened by 3 paise to close at 83.34 against the U.S. Dollar.

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