Stocks To Watch: Torrent Power, Allcargo Logistics, Adani Transmission, Ipca, ONGC, BHEL, RIL, HDFC, IRCTC

U.S. stock futures advanced as appetite for risk taking returned to global markets following the deal between President Joe Biden and House Speaker Kevin McCarthy on the U.S. debt ceiling. Contracts for the S&P 500 and Nasdaq 100 both gained about 0.5% as trading opened in Asia on Monday.

Futures for benchmarks in Japan and Australia pointed upward and a gauge of U.S.-listed Chinese stocks rallied on Friday in a positive sign for Hong Kong traders returning from a long weekend.

The agreement struck by Biden and McCarthy over the weekend needs to be passed by Congress, with the clock ticking down on June 5, when Treasury Secretary Janet Yellen has said cash will run out. There is plenty in the deal that Democrats and Republicans won’t like. U.S. markets are closed on Monday for a holiday, as are those in the U.K. and some parts of Europe.

Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.80%. Crude was trading above $77-mark, while Bitcoin gained 2% to trade around 28,000-level.

At 5:21 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, up 0.46% at 18,632.5.

Domestic benchmarks closed in green for the second day in a row, rising around 1%, with media, FMCG and IT stocks leading the rally. The Indian rupee closed higher against the U.S. dollar on the back of forex inflows and positive domestic equities.

Foreign investors were net buyers for the fifth straight day and bought equities worth Rs 350.15 crore. On the other hand, domestic institutional investors were buyers for the sixth straight day and bought Rs 1,840.98 crore worth of equities, the NSE data showed.

ONGC Q4 FY23 (Consolidated, YoY)

• Revenues up 5.2% at Rs 1,64,066.72 crore

• EBITDA down 14.05% at Rs 20,996.73 crore

• EBITDA margin at 14.57% vs 18.11%

• Net profit down 52.73% at Rs 5,701.46 crore

• On standalone basis, the company incurred a loss of Rs 247.70 crore (estimated Rs 10,598.08 crore profit), compared with Rs 8,859.54 crore a year ago, on account of provisions to the tune of Rs 9,235.11 made towards disputed taxes. The company declared a dividend of Rs 0.5 per share for the fiscal 2023.

Bharat Heavy Electricals Q4 FY23 (Consolidated, YoY)

• Revenue up 2.05% at Rs 8,226.99 crore (Bloomberg estimate: Rs 7,718.75 crore)

• Ebitda down 14.39% at Rs 986.15 crore (Bloomberg estimate: Rs 1,424.60 crore)

• Ebitda margin at 11.99% vs 14.29% (Bloomberg estimate: 18.5%)

• Net profit down 33.04% at Rs 611 crore (Bloomberg estimate: Rs 918.30 crore)

• The board recommended a final dividend of Rs 0.40 per share for fiscal 2023.

NCC Q4 FY23 (Consolidated, YoY)

• Revenue up 42.32% at Rs 4,949.03 crore

• Ebitda up 72.26% at Rs 464.61 crore

• Ebitda margin at 9.39% vs 7.76%

• Net profit down 13.21% at Rs 202.97 crore

• The company made provision to the tune of Rs 14.37 crore for obligation on sale of investment. Sanjay Pusarla has been appointed chief financial officer, effective June 1, in place of K Krishna Rao. The board approved a dividend of Rs 2.20 per share.

Chambal Fertilisers and Chemicals Q4 FY23 (Consolidated, YoY)

• Revenue up 8.81% at Rs 3,598.67 crore (Bloomberg estimate: Rs 4,934.53 crore)

• Ebitda down 69.17% at Rs 111.44 crore (Bloomberg estimate: Rs 470.77 crore)

• Ebitda margin at 3.1% vs 10.93% (Bloomberg estimate: 9.5%)

• Net profit down 61.45% at Rs 93.98 crore (Bloomberg estimate: Rs 238 crore)

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

PNC Infratech Q4 FY23 (Consolidated, YoY)

• Revenue up 3.54% at Rs 2,304.85 crore

• Ebitda down 14.52% at Rs 410.61 crore

• Ebitda margin at 17.82% vs 21.58%

• Net profit down 40.94% at Rs 145.98 crore

• The board recommended a dividend of Rs 0.50 per share for fiscal 2023.

Maharashtra Seamless Q4 FY23 (Consolidated, YoY)

• Revenues up 14.31% at Rs 1,632.86 crore (Bloomberg estimate: Rs 1,457)

• Ebitda up 85% at Rs 321.42 crore (Bloomberg estimate: Rs 251.60 crore)

• Ebitda margin at 19.68% vs 12.16% (Bloomberg estimate: 17.3%)

• Net profit down 5.94% at Rs 372.69 crore (Bloomberg estimate: Rs 160.50 crore)

• The company declared Rs 83.17 crore as provisions written back due to amalgamation. Deferred tax outgo for the period also jumped to Rs 11.47 crore, compared with Rs 5.14 crore in the year-ago period. The board recommended a dividend of Rs 5 for the fiscal 2023. It elevated Anuj Kumar Jaiswal as chief financial officer, effective June 1, in place of Sarat Kumar Mohanty.

Karnataka Bank Q4 FY23 (Standalone)

• Net interest income up 31.01% at Rs 860.05 crore (YoY)

• Net profit up 171.38% at Rs 353.75 crore (YoY)

• GNPA ratio at 3.74% vs 3.28% (QoQ)

• NNPA ratio at 1.7% vs 1.66% (QoQ)

• Operating profit before provisions and contingencies increased to Rs 685.76 crore, against Rs 380.12 crore in the year-ago period. Meanwhile, tax expense came down to Rs 78.75 crore, compared with Rs 153.86 crore. The board recommended a dividend of Rs 5 per share for fiscal 2023.

Sunteck Realty Q4 FY23 (Consolidated, YoY)

• Revenue down 68.51% at Rs 48.88 crore (Bloomberg estimate: Rs 215.05 crore)

• Ebitda loss of Rs -9.1 crore vs Ebitda profit of Rs 5.89 crore (Bloomberg estimate: Rs 52.2 crore Ebitda profit)

• Net loss widened to Rs 27.94 crore against loss of Rs 4.31 crore (Bloomberg estimate: Rs 20.25 crore profit)

• Cost of construction and development went up to Rs 683.11 crore, compared to Rs 228.36 crore. The company declared final dividend of Rs 1.50 per share for fiscal 2023. The board approved raising Rs 2,250 crore through debt and equity.

Ion Exchange (India) Q4 FY23 (Consolidated, YoY)

• Revenue up 30.45% at Rs 647.48 crore

• Ebitda up 11.97% at Rs 106.37 crore

• Ebitda margins at 16.43% vs 19.14%

• Net profit down 2.42% at Rs 81.19 crore

• Deferred tax credit decline to Rs 1 lakh from Rs 2.55 in the year-ago period. The board has declared a dividend of Rs 12.50 per share.

City Union Bank Q4 FY23 (Standalone)

• Net interest income up 2.71% at Rs 514.26 crore (YoY)

• Net profit up 4.35% at Rs 218.04 crore (YoY) (Bloomberg estimate: Rs 233.18 crore)

• GNPA ratio at 4.37% vs 4.62% (QoQ)

• NNPA ratio at 2.36% vs 2.67% (QoQ)

• The board recommended a dividend of Rs 1 per share.

Indigo Paints Q4 FY23 (Consolidated, YoY)

• Revenue up 12.86% at Rs 325.47 crore (Bloomberg estimate: Rs- 323.27 crore)

• Ebitda up 34.43% at Rs 71.73 crore (Bloomberg estimate: Rs 60.03 crore)

• Ebitda margin at 22.04% vs 18.5% (Bloomberg estimate: 18.6%)

• Net profit up 40.73% at Rs 48.68 crore (Bloomberg estimate: Rs 36 crore)

• The company recommended a final dividend of Rs 3.50 per share.

Shree Renuka Sugars Q4 FY23 (Consolidated, YoY)

• Revenue up 7.16% at Rs 2,328.50 crore

• Ebitda down 11.26% at Rs 256.8 crore

• Ebitda margin at 11.03% vs 13.32%

• Net profit down 71.92% at Rs 44.6 crore vs Rs 158.8 crore

• The net profit in the year ago period benefitted from a deferred tax credit of Rs 18.2 crore. The board noted the signing of non-binding term sheet for acquisition of 100% share in an Uttar Pradesh-based sugar manufacturing company.

Torrent Power, Allcargo Logistics, Adani Transmission, Ipca Laboratories, NHPC, KNR Constructions, Natco Pharma, Indian Railway Catering and Tourism Corporation, Sobha, Suprajit Engineering, Heidelbergcement India, Jamna Auto Industries, SML Isuzu, NIIT, Campus Activewear, NOCIL, Techno Electric & Engineering Company, Stove Kraft, Andrew Yule & Company, Asian Star Co., BCL Industries, Bengal & Assam Company, Best Agrolife, Confidence Petroleum India, Cosmo First, Dynamatic Technologies, Elpro International, Eureka Forbes, Evans Electric, Force Motors, Gensol Engineering, Gujarat Industries Power Co., Goodyear India, Gufic Biosciences, Hardwyn India, Hemisphere Properties India, Hikal, HLE Glascoat, ISGEC Heavy Engineering, ITI, Jindal Poly Films, Jubilant Pharmova, Kovai Medical Center & Hospital, La Opala RG, Monte Carlo Fashions, Mahanagar Telephone Nigam, NBCC (India), National Fertilizers, New India Assurance Company, Pilani Investment and Industries Corporation, Pitti Engineering, Privi Speciality Chemicals, Rico Auto Industries, Rattanindia Enterprises, Rail Vikas Nigam, Sanmit Infra, Shivalik Rasayan, Shriram Properties, Speciality Restaurants, Steel Exchange India, Sunflag Iron & Steel Co., TGV Sraac, Technocraft Industries (India), Tijaria Polypipes, Time Technoplast, Tine Agro, Tips Films, Tirth Plastic, Tirupati Fincorp, Titan Biotech, Titan Securities, Tamilnadu Steel Tubes, Trade Wings, Transglobe Foods, Trans-Freight Containers, Trescon, Tirupati Tyres, TV Vision, Ucal Fuel Systems, Unifinz Capital India, Uday Jewellery Industries, United Drilling Tools, Unijolly Investments Co., Unishire Urban Infra, Unistar Multimedia, Univa Foods, UR Sugar Industries, Vadilal Industries, Vadilal Enterprises, Valencia Nutrition, Valley Magnesite Company, Vama Industries, Vamshi Rubber, Vaswani Industries, Vedant Asset, Vedavaag Systems, Velan Hotels, Venus Remedies, Veranda Learning Solutions, Vibrant Global Capital, Veer Global Infraconstruction, Viceroy Hotels, Vijaya Diagnostic Centre, Vikram Thermo (India), Viksit Engineering, Vineet Laboratories, Virat Crane Industries, Virgo Global, Visa Steel, Visu International, Vivid Mercantile, VMS Industries, Virtuoso Optoelectronics, Vasundhara Rasayans, Veeram Securities, Wallfort Financial Services, Welcure Drugs & Pharmaceuticals, Williamson Magor & Company, Wim Plast, Winsome Yarns, Western Ministil, Women Networks, Worldwide Aluminium, Yash Management & Satellite, Yashraj Containeurs, Yuken India, Ardi Investment & Trading, Dhanvantri Jeevan Rekha, Zee Media Corporation, Zenith Health Care, Zenith Steel Pipes & Industries, Hindustan Housing Co., Hindusthan Udyog, Sheraton Properties & Finance, Speedage Commercials.

• Reliance Industries: Reliance Consumer Product, the FMCG arm of the company, partnered with U.S.-based General Mills to launch international corn chips snacks brand Alan’s Bugles in India.

• Tata Motors: Moody’s Investor Service changed the outlook for the company to positive from stable. Robust credit metrics led to Moody’s affirming its B1 rating to the company.

• Central Bank of India: RBI imposed a penalty of Rs 84.50 lakh on Central Bank of India for failing to report certain accounts as fraud and recovering SMS alert charges from customers on flat basis.

• HDFC: Market regulator SEBI has granted final approval for the proposed change in control of HDFC Capital Advisers in its capacity of an investment manager of the HCARE Funds and investment manager cum sponsor of HDFC Build Tech Fund.

• Lupin: The company received approval from Health Canada to market generic version of tiotropium bromide inhalation powder under the name Spiriva for treatment of chronic obstructive pulmonary disease in Canada.

• Godrej Properties: The company increased stake in Wonder City Buildcon to 100% from 74%, acquiring 2.9 crore shares (26% of overall shareholding) for Rs 45.13 lakh.

• RITES/Power Finance Corporation: RITES and Power Finance Corporation signed an MoU  to explore avenues of mutual collaboration for consultancy works in transport and logistics, energy, water and sanitation, communication, social and commercial infrastructure.

• GAIL/Axis Bank: GAIL (India) has partnered with Axis Bank to digitise bank guarantees under Society for Worldwide Interbank Financial Telecommunication.

• PB Fintech: Tencent Cloud Europe B.V sold 94.16 lakh shares (2.09%) at Rs 596.66 apiece and Societe Generale bought 22.64 lakh shares (0.50%) at Rs 596.30 apiece.

• Jtekt India: Nippon Mutual Fund bought 54.73 lakh shares (2.23%) at Rs 121.25 apiece.

• SML Isuzu: Jupiter India sold 1.13 lakh shares (0.78%) at Rs 1,020.71 apiece.

• Mukand: Promoter group Baroda Industries bought 50,000 shares between May 24-25.

• Som Distilleries & Breweries: Promoter Deepak Arora bought 10,500 shares on May 24.

• PSP Projects: Promoter and director Prahaladbhai S Patel bought 25,000 shares on May 24.

• Price Band Revised From 10% to 5%: Andhra Cements

• Ex-Date Final Dividend: Anand Rathi Wealth

• Record Date Final Dividend: Anand Rathi Wealth

• Ex-Date Interim Dividend: IRB Infrastructure Developers, MM Forgings

• Record Date Interim Dividend: IRB Infrastructure Developers, MM Forgings

• Move Out of Short-Term ASM Framework: Kirloskar Brothers, GE T&D India, Aurionpro Solutions

• HCL Technologies: To meet analyst and investors between June 5-16.

• Persistent Systems: To meet analyst and investors on May 29 and 30.

• IIFL Finance: To meet analyst and investors on May 31.

• Ahluwalia Contracts: To meet analyst and investors on May 29.

Nifty June futures ended at 18,570.20, a premium of 149.95 points.

Nifty June futures rose 9.59% and 16,756 shares in Open Interest.

Nifty Bank June futures ended at 44,070, a premium of 333.65 points.

Nifty Bank June futures rose 1.62% and 1,341 shares in Open Interest.

Securities added to the ban period: Nil

Securities removed from the ban period: Nil

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