Share Market Highlights 15 May 2024: Sensex, NSE index decline ahead of US inflation data; Coal India spikes up 4%

The benchmark BSE Sensex fell 117.58 points, or 0.16%, to 72,987.03, while the broader NSE index lost 21.1 points, or 0.09%, to 22,196.75, dragged by top private lender HDFC Bank and consumer stocks, ahead of a key U.S. inflation reading.

Rupee sidestepped gains in its broader Asian peers to end barely changed on Wednesday, as traders awaited the U.S. consumer inflation data for cues on when the Federal Reserve may kick off rate cuts. 

The rupee closed at 83.50 against the U.S. dollar, compared to its previous close of 83.51. The dollar index slipped 0.2% to 104.8. 

Most Asian currencies rose, with the Philippine peso up 0.6% and leading gains. The offshore Chinese yuan strengthened 0.2% as well.

Naysaa Securities Ltd changed its name to Meghna Infracon Infrastructure Ltd, approved by the Registrar of Companies. Shares were up by 2.48% to ₹299.50 on the BSE.

Top gainers: 

Coal India (4.12%), Cipla (3.67%), Bharat petroleum corporation (2.99%), Bharti Airtel (2%), Power Grid corporation (1.73%)

Top losers:

Asian paints (-1.83%), Tata Motors (-1.85%), Bajaj Auto (-1.77%), Eicher motors (-1.67%), HDFC Bank (-1.42%)

BSE Sensex was down by 0.17 per cent or 130.65 points to 72,968 while the NSE Nifty was at 22,199.20 down by 0.08 per cent or 20.95 points. A total of 3,924 stocks were actively traded, 2,208 advanced, while 1,583 declined and 133 stocks remained unchanged where 179 stocks hit a 52 week high and 32 stocks hit a 52 week low on the BSE at 3.18 pm.

Thyrocare Technologies Ltd., trading at ₹648 with a market cap of ₹3431 crore and 52-week high/low at ₹723/442, disappoints with its recent financial results. Revenue from Operations stands at ₹154.3 crore, below the expected ₹149.8 crore, with a Q-o-Q increase of 14.5% and Y-o-Y increase of 13.5%. EBIDTA is reported at ₹33.8 crore, lower than the anticipated ₹38.4 crore, showing a Q-o-Q growth of 7% and YoY growth of 36.9%. EBITDA Margin at 21.9% falls short of the expected 25.7%, with QoQ and YoY margins at 23.4% and 18.2% respectively. Adj. PAT is recorded at ₹17.8 crore, missing the estimated ₹22.6 crore, with QoQ and YoY values at ₹15.4 crore and ₹12.6 crore respectively. The Quarter EPS stands at ₹3.4. Additionally, the stock is trading at a P/E ratio of 34.4x FY25E EPS, reflecting a challenging outlook.

Arrow Greentech Ltd was granted a patent for a process allowing application of multiple medications on wound bands. The patented technology enables medicated bands to deliver medications for treating different types of wounds. The shares were up by 2.19% to ₹506 on the BSE.

Hindustan Copper reported an accident at its Kolihan Copper mine in Rajasthan on May 14, 2024. The incident, caused by a rope snapping and cage collision during man winding, resulted in one fatality and fourteen serious injuries.

Keystone Realtors Ltd posted revenue of ₹2,222 crore, EBITDA of ₹163 crore, and PAT at ₹112 crore in the fourth quarter of FY24. The shares were up by 1.68% at ₹682.65 on the BSE 

In a big blow to Brightcom Group (BCG), a digital marketing solutions company, the National Stock Exchange (NSE) has suspended trading of the company’s shares with effect from June 14, 2024.

“The company has not complied with the SEBI regulations concerning submission of financial results for two consecutive quarters (September and December 2023 quarters). Hence the trading of the company’s securities shall be suspended with effect from June 14, 2024,” the NSE said in a circular on Wednesday.

“The suspension will continue till such time the company complies with the SEBI’s Master Circular dated July 11, 2023. After 15 days of the suspension, trading in the securities of the company would be allowed on trade on the first trading day of every week for six months,” it said.

The Hyderabad-based company was under the SEBI scanner for over two years for listing violations and for concealing information, non-compliance, and violating other norms. 

The market regulator said that the firm understated expenditure and overstated profits for five years beginning 2014-15. It observed that the scale of fraud was large and the company tried to camouflage accounting entries to the tune of Rs 1,280 crore during the period.

The company’s share touched the lower circuit of Rs 12.27 on the Bombay Stock Exchange (BSE) on Wednesday. On the NSE, it touched a low of Rs 12.25 during the day.

Bengal Steel Industries Ltd’s promoter group member, Hindusthan Udyog Ltd, plans to sell up to 7,000 equity shares, constituting 0.14 per cent of the company’s paid-up share capital. The shares were up by 33.33 per cent at ₹0.04 on the BSE.

Manali Petrochemical Ltd’s shares were up after the company’s subsidiary, PennWhite Ltd, appointed KRAHN UK Ltd as its UK distributor for silicone oils, effective immediately. This partnership aims to expand PennWhite’s presence in the UK and Ireland markets, offering products and improved supply options for industrial customers. The shares were up by 4.37 per cent at Rs 79 on the BSE.

Royal Sense Ltd has launched the STERGIC HIV 1+2 Triline Ab Rapid Test Kit, catering to the domestic market. It offers a diagnostic tool to detect HIV antibodies. The kit aims to enhance diagnostic capabilities and improve patient care. The shares were down by 2.32 per cent at Rs 120 on the BSE.

Panama Petrochem Limited’s subsidiary, Panol Industries RMC FZE, signed a 25-year Lease Agreement with RAK Maritime City Free Zone Authority in the UAE for a plot of land. The agreement includes petrochemical manufacturing and trading activities, with an annual consideration subject to a 4% increase each year. The shares were up by 1.88% to ₹332.60 on the BSE.

BSE Sensex declined by 105.38 pts or 0.14 per cent to trade at 72,999.23 as of 12.31 pm, and Nifty 50 traded at 22,212.05, down by 5.80 pts or 0.03 per cent.

Majority of the sectoral indices continued to trade positive. Nifty PSU Bank was up 1.67 per cent at 7,178.00. Nifty auto slipped 0.52 per cent at 22,755.20. 

Metalyst Forgings Limited’s resolution plan gains approval from the NCLT, Mumbai Bench, under the Insolvency and Bankruptcy Code, 2016. Shares trade flat on the BSE.

Rajnish Retail Limited launched an Urban Saloon in Mumbai. The company decided to expand portfolio by venturing into the beauty and wellness industry. The shares were up by 2% to ₹88.43 on the BSE.

SEBI has granted Life Insurance Corporation of India (LIC) additional time of three years to achieve 10 per cent public shareholding.

Currently, the government has a 96.50 per cent shareholding in India’s largest life insurer, with the balance (3.50 per cent) being public shareholding.

This unique fund is designed to capitalise on identifying the market opportunities, aiming for long-term capital growth through undervalued or overlooked opportunities, per the AMC.

161 stocks hit 52 week high and 20 stocks hit 52 week low on the BSE at 12.15 pm

Major gainers on the NSE include- Cipla (3.68%), Coal India (3.13%), NTPC (1.25%), Mahindra and Mahindra (1.20%), Dr Reddy’s laboratories (1.13%)

Major losers include- Eicher Motors (-2.19%), Sun Pharmaceuticals Industries (-1.47%), Bajaj Auto (-1.32%), HDFC Bank (-1.17%), Britannia industries (-1.13%)

Mahindra & Mahindra Ltd was penalised ₹74,200 by the Deputy Commissioner, Begumpet, Telangana, under the Central Goods and Services Tax Act, 2017, for the Financial Year 2020-21. The company intends to appeal the order. The shares were up by 1.11% to Rs 2295.80 on the BSE.

Aadhar Housing Finance, a major player in the low-income housing segment, witnessed a flat listing on the stock exchanges. The company’s shares debuted at Rs. 315, exactly matching its issue price.

This performance fell short of pre-listing expectations, which were fuelled by strong investor interest and a grey market premium (GMP) suggesting a 15-20% gain. While the IPO itself was oversubscribed a significant 27 times, the lacklustre listing raises questions about investor sentiment and future prospects.

The low-income housing segment is growing, but the industry is competitive. Investors might be seeking more clarity on Aadhar’s competitive edge and long-term growth strategy.

However, the strong financials, dominant market position, and extensive branch network remain attractive attributes, and investors may expect growth in the long term.

Vishnu Chemicals Limited’s monitoring agency for qualified institutional placement of equity shares submitted the report for the quarter ended March 31, 2024. The report pertains to the placement of shares amounting to ₹200 crore. The shares were down by 0.29% to ₹294.55 on the BSE.

The Bank Nifty May Futures (47,910) contract seems to be stuck in between 47,800 and 48,200. It is now currently near the lower end of the range at 47,910. A breakout on either side of 47,800-48,200 is needed to get clarity on the next move.

The Nifty 50 May Futures (22,245) is down 0.28 per cent. The price action indicates that the contract is getting sellers around 22,400. That leaves the intraday outlook negative. The contract can fall to 22,150-22,100 during the day. To negate this fall, the contract has to rise above 22,300 from here.

Niyogin Fintech Limited approved the acquisition of ‘SuperScan’, an AI-enabled toolkit, aiming to enhance operations and drive profitability. The company’s revenue grew in FY24, reaching ₹194.3 crore, up 79% YoY. The shares were down by 1.18% to ₹72.68 on the BSE.

ICICI Lombard General Insurance Company Limited received IRDAI approval for appointing Rakesh Jha as the Chairperson of the Board, effective from June 30, 2024, for a term of 5 years. The shares were down by 1.24% to ₹1661.50 on the BSE.

TBO Tek, the global travel and tourism industry player, witnessed a stellar debut on the stock exchanges, exceeding pre-listing expectations by a significant margin. The company is listed at Rs. 1426 per share, translating to a remarkable 55% premium over its issue price of Rs. 920. This strong performance underscores the immense investor confidence in TBO Tek’s robust technological foundation and its potential for continued growth in the online travel sector.

TBO Tek has a robust technological foundation. The company’s modular and scalable platform positions it for efficient operations and data utilization in a dynamic digital travel landscape. The company’s business model fosters efficient growth, further adding to its attractiveness for investors.

TBO Tek’s strong listing signifies a promising future. Investors may hold their position by keeping a stop loss at Rs 1290.

Easy Trip Planners Ltd. partnered with Google Wallet to enhance travel experience, offering integration and access to boarding passes. Android users can download Google Wallet app, log in with Google credentials, and add boarding passes after booking tickets on EaseMyTrip.com to simplify the travel process. The shares were down by 0.36% to ₹43.82 on the BSE.

Colgate-Palmolive (India) Ltd. | CMP Rs. 2818 | M Cap Rs. 76656 Cr | 52 W H/L 2961/1568

Result is above expectations

Revenue from Operations came at Rs. 1490 Cr (6.8% QoQ, 10.3% YoY) vs expectation of Rs. 1468.1 Cr, QoQ Rs. 1395.7 Cr, YoY Rs. 1350.6 Cr

EBIDTA came at Rs. 532.2 Cr (13.6% QoQ, 17.8% YoY) vs expectation of Rs. 504.2 Cr, QoQ Rs. 468.4 Cr, YoY Rs. 451.9 Cr

EBITDA Margin came at 35.7% vs expectation of 34.3%, QoQ 33.6%, YoY 33.5%

Adj. PAT came at Rs. 379.8 Cr vs expectation of Rs. 359.8 Cr, QoQ Rs. 330.1 Cr, YoY Rs. 318.1 Cr

Quarter EPS is Rs. 14

Stock is trading at P/E of 49.5x FY26E EPS

Surya Roshni Ltd. | CMP Rs. 549 | M Cap Rs. 5976 Cr | 52 W H/L 842/364

Revenue from Operations came at Rs. 2080.5 Cr (7.4% QoQ, -3.3% YoY) vs QoQ Rs. 1937.8 Cr, YoY Rs. 2151.3 Cr

EBIDTA came at Rs. 165.9 Cr (7.3% QoQ, -34.3% YoY) vs QoQ Rs. 154.6 Cr, YoY Rs. 252.5 Cr

EBITDA Margin came at 8% vs QoQ 8%, YoY 11.7%

Adj. PAT came at Rs. 103.9 Cr vs QoQ Rs. 90.1 Cr, YoY Rs. 155.6 Cr

Quarter EPS is Rs. 9.5

Stock is trading at P/E of 12.7x FY25E EPS

BSE Sensex rose by 103.62 pts or 0.14 per cent at 73,208.23 as of 9.20 am, and Nifty 50 was up 43.85 pts or 0.2 per cent at 22,261.70.

The majority of sectoral indices traded in green, except for realty stocks, and financial services. Nifty PSU Bank increased 1.28 per cent to trade at 7,150.75. Meanwhile, Nifty bank was up 0.06 per cent at 47,887.25.

Major gainers on the NSE include- Cipla (3.22%), Adani Enterprises (1.68%), Ntpc (1.66%), Coal India (1.65%), Hindalco industries (1.54%)

Major losers include HDFC Life Insurance Company (-0.77%), Eicher Motors (-0.64%), Shri Ram Finance (-0.61%), HDFC Bank (-0.58%), Ultratech Cement (-0.43%)

Of 3,060 stocks actively traded on the BSE, 2,314 advanced, while 638 declined and 108 stocks remained unchanged, where 91 stocks hit a 52-week high and 10 stocks hit a 52-week.

Shares of Aadhar Housing Finance will make their debut on the bourses on Wednesday. The company has fixed the IPO price at ₹315, at the upper end of the price range of ₹300-315. Read more

Shares of TBO Tek will be listed on the bourses today. The company has fixed the price at ₹920, the upper end of the price band ₹875-920. Analysts expect a healthy listing as the initial public offering of the global travel and tourism industry player, TBO Tek was subscribed 86.70 times. Read more

Crude oil futures traded higher on Wednesday morning as the industry data showed decline in oil inventories in the US. At 9.14 am on Wednesday, July Brent oil futures were at $82.92, up by 0.66 per cent, and June crude oil futures on WTI (West Texas Intermediate) were at $78.60, up by 0.74 per cent. May crude oil futures were trading at ₹6566 on the Multi Commodity Exchange (MCX) during the initial hour of trading on Wednesday morning against the previous close of ₹6512, up by 0.83 per cent, and June futures were trading at ₹6548 against the previous close of ₹6498, up by 0.77 per cent.

GIC Housing Finance Ltd. -S | CMP Rs. 209 | M Cap Rs. 1125 Cr | 52 W H/L 292/157

(Nirmal Bang Retail Research)

Result Ok. Company had writeback of provision

Loan cook came at Rs. 9985 Cr (-3% YoY)

NII came at Rs. 83.6 Cr vs YoY Rs. 97.5 Cr, QoQ Rs. 82.9 Cr

PBP came at Rs. 57 Cr vs YoY Rs. 70.7 Cr, QoQ Rs. 55.6 Cr

Provision came at Rs. -22.1 Cr vs YoY Rs. -6.8 Cr, QoQ Rs. 13.3 Cr

PAT came at Rs. 53.6 Cr vs YoY Rs. 52.3 Cr, QoQ Rs. 35.6 Cr

Gross NPA (%) came at 3.72% vs QoQ 4.41%

Net NPA (%) came at 2.51% vs QoQ 2.79%

Quarter EPS is Rs. 9.9

Stock is trading at 0.6x trailing P/BV

Electrosteel Castings Ltd. | CMP Rs. 167 | M Cap Rs. 9924 Cr | 52 W H/L 208/38

(Nirmal Bang Retail Research)

Result is declining

Revenue from Operations came at Rs. 2004.3 Cr (7.2% QoQ, 7% YoY) vs QoQ Rs. 1869.4 Cr, YoY Rs. 1872.4 Cr

EBIDTA came at Rs. 311.3 Cr (-23.4% QoQ, 61.5% YoY) vs QoQ Rs. 406.4 Cr, YoY Rs. 192.7 Cr

EBITDA Margin came at 15.5% vs QoQ 21.7%, YoY 10.3%

Adj. PAT came at Rs. 227.1 Cr vs QoQ Rs. 263.4 Cr, YoY Rs. 89.4 Cr

Quarter EPS is Rs. 3.8

Stock is trading at P/E of 11.7x FY25E EPS

Albert David Ltd. | CMP Rs. 1165 | M Cap Rs. 665 Cr | 52 W H/L 1608/555

(Nirmal Bang Retail Research)

Result is ok

Revenue from Operations came at Rs. 89.1 Cr (0.9% QoQ, 9.4% YoY) vs QoQ Rs. 88.3 Cr, YoY Rs. 81.4 Cr

EBIDTA came at Rs. 9.6 Cr (14.5% QoQ, -0.3% YoY) vs QoQ Rs. 8.4 Cr, YoY Rs. 9.6 Cr

EBITDA Margin came at 10.7% vs QoQ 9.5%, YoY 11.8%

Adj. PAT came at Rs. 12.9 Cr vs QoQ Rs. 18.7 Cr, YoY Rs. 3.7 Cr

Quarter EPS is Rs. 22.6

Stock is trading at P/E of 8.8x TTM EPS

Ethos Ltd. | CMP Rs. 2303 | M Cap Rs. 5638 Cr | 52 W H/L 3044/1200

(Nirmal Bang Retail Research)

Result has improved

Revenue from Operations came at Rs. 252.5 Cr (-10.2% QoQ, 21.7% YoY) vs QoQ Rs. 281.2 Cr, YoY Rs. 207.6 Cr

EBIDTA came at Rs. 36 Cr (-19.2% QoQ, 41.2% YoY) vs QoQ Rs. 44.5 Cr, YoY Rs. 25.5 Cr

EBITDA Margin came at 14.2% vs QoQ 15.8%, YoY 12.3%

Adj. PAT came at Rs. 21 Cr vs QoQ Rs. 25.5 Cr, YoY Rs. 13.3 Cr

Quarter EPS is Rs. 8.6

Stock is trading at P/E of 50.9x FY25E EPS

Aditya Birla Capital Ltd. - C | CMP Rs. 221 | M Cap Rs. 57460 Cr | 52 W H/L 209/155

(Nirmal Bang Retail Research)

Result has improved on the back of strong performance from NBFC, Life Insurance, General Insurance and stock broking; while performance of AMC and HFC was muted

Segment Revenue

NBFC revenue came at Rs. 3471 Cr vs YoY Rs. 2491 Cr, QoQ Rs. 3346 Cr

Life insurance revenue came at Rs. 6171 Cr vs YoY Rs. 4997 Cr, QoQ Rs. 4580 Cr

Asset Management revenue came at Rs. 437 Cr vs YoY Rs. 328 Cr, QoQ Rs. 421 Cr

General insurance Broking revenue came at Rs. 160 Cr vs YoY Rs. 63 Cr, QoQ Rs. 216 Cr

Stock Broking revenue came at Rs. 116 Cr vs YoY Rs. 67 Cr, QoQ Rs. 102 Cr

Health insurance revenue came at Rs. 1213 Cr vs YoY Rs. 798 Cr, QoQ Rs. 792 Cr

Other Financial Services revenue came at Rs. 570 Cr vs YoY Rs. 41 Cr, QoQ Rs. 132 Cr

Total Income came at Rs. 12633.8 Cr vs YoY Rs. 9161.6 Cr, QoQ Rs. 10059.9 Cr

PBT came at Rs. 1612.1 Cr vs YoY Rs. 832 Cr, QoQ Rs. 1050 Cr

PBT includes a one off component of Rs. 486 Cr pertaining to sale of shares of ABSL AMC to comply with the 75% promoter holding norm.

Excluding this the PBT would have been at Rs. 1126 Cr vs YoY Rs. 832 Cr, QoQ Rs. 1050 Cr

Quarter EPS is Rs. 4.8

Stock is trading at P/E of 16.3x FY25E EPS & 2.1x trailing P/BV

Power Finance Corp, Mankind Pharma, Jindal Stainless, Dixon Technologies, Honeywell Automation, LIC Housing Finance, Redington, Jyothy Labs, NCC, Clean Sciences and Technology, Asahi India Glass, Titagarh Rail Systems, Indian Energy Exchange, Granules India, CMS Info Systems, Transport Corporation of India, Moil, Paradeep Phosphates, ICRA, Pricol, Pitti Engineering, Somany Ceramics, NLC India, and Trident.

Earnings Post Market Hours 

Bharti Airtel Q4 FY24 (Consolidated, QoQ) 

Revenue down 0.8% at Rs 37,599 crore vs Rs 37,899 crore, (Bloomberg estimate Rs 38,607 crore) 

EBITDA down 2.3% at Rs 19,365 crore vs Rs 19,815 crore, (Bloomberg estimate Rs 20,480 crore)

EBITDA MARGIN AT 51.5% VS 52.3% (Bloomberg estimate 53%) 

NET PROFIT down 28% at Rs 2,068 crore VS Rs 2,876 crore, (Bloomberg estimate Rs 3,274 crore) 

Final dividend of Rs 8 per share. 

Siemens India Q2 (Consolidated, YoY)

Revenue up 18.4% at Rs 5750 crore vs Rs 4,858 crore, (Bloomberg estimate Rs 5,566 crore) 

EBITDA up 41.4% at Rs 878 crore vs Rs 621 crore, (Bloomberg estimate Rs 697 crore) 

Margin at 15.3% vs 12.8% (Bloomberg estimate 12.5%)

Net profit up 70.2% at Rs 803 crore vs Rs 472 crore, (Bloomberg estimate Rs 548 crore) 

Announced capex of over Rs 1,000 crore for expansion of operations. 

Approved the demerger of Energy Business into a separate listed legal entity. 

Share Entitlement Ratio fixed at 1:1

Shree Cement Q4 FY24 (Consolidated, YoY)

Revenue up 6.5% at Rs 5,433 crore vs Rs 5,100 crore, (Bloomberg estimate Rs 5,147 crore) 

EBITDA up 59.9% at Rs 1,422 crore vs Rs 889 crore, (Bloomberg estimate Rs 1,212 crore) 

Margin at 26.2% vs 17.4% (Bloomberg estimate 23.6%)

Net profit up 28.7% at Rs 676 crore vs Rs 525 crore, (Bloomberg estimate Rs 592 crore) 

Colgate Q4 FY24 (Consolidated, YoY)

Revenue up 10.4% at Rs 1,481 crore vs Rs 1,342 crore, (Bloomberg estimate Rs 1,468 crore) 

EBITDA up 18% at Rs 523 crore vs Rs 443 crore, (Bloomberg estimate Rs 504 crore)

Margin at 35.3% vs 33% (Bloomberg estimate 34.3%) 

Net profit up 20.1% at Rs 380 crore vs Rs 316 crore, (Bloomberg estimate Rs 360 crore) 

Board declares 2nd interim dividend of Rs 26 per share. 

Board also declares special interim dividend of Rs 10 per share.

Oberoi Realty Q4 FY24 (Consolidated, YoY)

Revenue up 36.8% at Rs 1,315 crore vs Rs 961 crore, (Bloomberg estimate Rs 1,301 crore) 

Ebitda at Rs 789 crore vs Rs 369 crore (Bloomberg estimate Rs 592 crore) 

Margin at 60% vs 38.3% (Bloomberg estimate 45.5%)

Net profit up 64.1% at Rs 788 crore vs Rs 480 crore, (Bloomberg estimate Rs 461 crore) 

Board declares interim dividend of Rs 2 per share. 

Approved the equity raise of Rs 2,000 crore and debt raise of Rs 2,000 crore. 

Radico Khaitan Q4 FY24 (Consolidated, YoY)

Revenue up 15.4% at Rs 1,078 crore vs Rs 832 crore (Bloomberg estimate Rs 1,136 crore) 

EBITDA up 55.3% at Rs 123 crore vs Rs 79 crore, (Bloomberg estimate Rs 143 crore) 

Margin at 11.4% vs 9.5% (Bloomberg estimate 12.6%)

Net profit up 26.4% at Rs 54 crore vs Rs 43 crore (Bloomberg estimate Rs 61 crore) 

Apollo Tyres Q4 FY24 (Consolidated, YoY)

Revenue up 0.2% at Rs 6,258 crore vs Rs 6,247 crore, (Bloomberg estimate Rs 6,427 crore) 

Ebitda up 3% at Rs 1,028 crore vs Rs 998 crore, (Bloomberg estimate Rs 1,133 crore)

Ebitda Margin at 16.4% VS 16% (Bloomberg estimate 17.6%) 

Net Profit down 14% at Rs 354 crore VS Rs 410 crore, (Bloomberg estimate Rs 457 crore) 

Recommended dividend of Rs 6 per share. 

Patanjali Foods Q4 FY24 (Consolidated, YoY)

Revenue up 4.4% at Rs 8,222 crore vs Rs 7,873 crore.

EBITDA up 14% at Rs 371 crore vs Rs 326 crore. 

EBITDA margin at 4.5% vs 4.1% YoY. 

Net profit Down 22% at Rs 206 crore vs Rs 264 crore. 

Board declared an interim dividend of Rs 6 per share. 

V-Mart Retail Q4 FY24 (Consolidated, YoY)

Revenue at up 12.6% Rs 669 crore vs Rs 594 crore, (Bloomberg estimate Rs 669 crore) 

EBITDA up 75.6% at Rs 40 crore vs Rs 23 crore, (Bloomberg estimate Rs 48 crore) 

Margin at 6% vs 3.9% (Bloomberg estimate Rs 7.2%) 

Net loss of Rs 39 crore vs loss of Rs 37 crore. (Bloomberg estimate loss Rs 30 crore)

Bharti Hexacom Q4 FY24 (QoQ)

Revenue up 3.7% at Rs 1,868 crore vs Rs 1,801 crore, 

EBIT up 6.1% at Rs 878 crore vs Rs 823 crore, 

EBIT margin at 47% vs 46% 

Net profit up 5% at Rs 223 crore vs Rs 213 crore. 

Archean Chemical Q4 FY24 (Consolidated, YoY)

Revenue down 25.8% at Rs 284 crore vs Rs 382 crore (Bloomberg estimate Rs 349 crore) 

EBITDA down 55.2% at Rs 87 crore vs Rs 194 crore, (Bloomberg estimate Rs 122 crore) 

Margin at 30.7% vs 50.8% (Bloomberg estimate 35.1%)

Net profit down 57.9% at Rs 58 crore vs Rs 137 crore, (Bloomberg estimate Rs 84 crore) 

Repco Home Finance Q4 (YoY)

Net profit up 32% at Rs 108 crore vs Rs 82 crore 

Total income up 15% at Rs 397 crore vs Rs 345 crore

Stocks To Watch 

MSCI May Review: MSCI Inc. has added 13 Indian stocks to its Global Standard Index under quarterly review for May. 

Mahindra & Mahindra: The company arm Mahindra Holdings sold the entire 30.8% stake in the New Delhi Centre for Sight for Rs 425 crore.

Aurionpro Solutions: The Board recommended a bonus issue in the ratio of 1:1. 

The New India Assurance: The company appointed Vimal Kumar Jain as CFO and Pooran Kumar Tulsiani as CIO. 

Bigbloc Construction: The company announced a temporary shutdown of the Umargam plant for 45–60 days.

IPO Offering

Go Digit General Insurance: The company will offer its shares for bidding on Wednesday. The price band is set from Rs 258 to Rs 272 per share apiece. The Rs 2,614.65 crore IPO is combination of fresh issue of Rs 1,125 crore and rest offer for sale. The company has raised Rs 1,176 crore from anchor investors.

New Listing 

TBO Tek: The company’s shares will debut on the stock exchanges on Wednesday at an issue price of Rs 920 apiece. The Rs 1550-crore IPO was subscribed 86.7 times on its third and final day. 

*Aadhar Housing Finance:*The company’s shares will debut on the stock exchanges on Wednesday at an issue price of Rs 315 apiece. The Rs 3,000-crore IPO was subscribed 25.49 times on its third and final day.

Insider Trades 

Jindal Saw: Promoter Shradha Jatia bought 18,700 equity shares on May 10. 

Trading Tweaks

Moved out of short-term ASM framework: Vedanta. 

Moved into short-term ASM framework: Hindustan Zinc.

Ex/record dividend: IRB Infrastructure Developers, Hindustan Zinc, Coforge, Aptus Value Housing Finance India. 

Ex/record Stock Split: Canara Bank. 

Ex/record right issue: Solara Active Pharma.

F&O BAN

1\u0009BALRAMCHIN

2\u0009BSOFT

3\u0009CANBK

4\u0009GMRINFRA

5\u0009HINDCOPPER

6\u0009IDEA

7\u0009PEL

8\u0009SAIL

9\u0009ZEEL

Flash GDP q/q, Industrial Production m/m from Euro Zone and Core CPI m/m, Core Retail Sales m/m, CPI m/m, CPI y/y, Retail Sales m/m from US Zone.

Gold surged above $2,355, as investors absorbed new US PPI data while waiting for the CPI statistics. Producer prices grew more than expected in April, although the March data was substantially revised lower, providing investors with some relief. Fed Chair Powell maintained that inflation is falling more slowly than expected, which will keep the central bank on hold for a longer term. Meanwhile, escalating global geopolitical tensions are supporting the metal’s safe-haven appeal, with reports indicating that Israeli tanks are pushing deeper into Rafah, Russia opening a new front in Ukraine, and new sanctions raising concerns about trade alliance fragmentation. 

Silver rose as the dollar fell and bond yields fell, despite data showing a larger-than-expected increase in US producer price inflation, dimming chances for an early interest rate cut by the Federal Reserve. U.S. producer prices rose more than expected in April, driven by robust growth in the costs of services and goods, showing that inflation remained high early in the second quarter. Meanwhile, Fed Chair Jerome Powell said he expects US inflation to continue falling through 2024, as it did last year, and that the Fed is unlikely to raise interest rates again. Loretta Mester, President of the Federal Reserve Bank of Cleveland, stated that it was acceptable for the Fed to leave interest rates unchanged while it waited for indications that price pressures were reducing further. 

The ₹2,615-crore IPO of Go Digit General Insurance Limited, a digital full-stack company, opens today for the public at a price band of ₹258-272. The market lot is 55 shares.

The issue is a mix of a fresh issue of 4.14 crore shares worth ₹1,125 crore and an offer for sale of 5.48 crore shares for ₹1,489.65 crore. The IPO will close on May 17.

At least 75 per cent of the issue is reserved for qualified institutional buyers, while up to 15 per cent for non-institutional bidders, and a maximum of 10 per cent for retail investors.

Tata Consultancy Services Ltd.

Dividend Per Share Rs.28

Previous day Closing Price – Rs. 3901.95

Ex-Dividend 16 May 2024 (Tomorrow)

Last date for Cum-Dividend Today

Symbol: AADHARHFC 

Series: Equity “B Group” 

BSE Code: 544176 

ISIN: INE883F01010 

Face Value: Rs 10/- 

Issued Price: Rs 315/- per share

Symbol: TBOTEK 

Series: Equity “B Group” 

BSE Code: 544174 

ISIN: INE673O01025 

Face Value: Rs 1/- 

Issued Price: Rs 920/- per share

Jefferies On Bharti Airtel

Buy Call, Target Rs 1,590 From 1,300

Q4 Saw Strong Subscriber Additions, Mix Improvement & Higher Mobile ARPU

Surprising Positively FCF To Rise As Capex Moderates

Raise Rev/EBITDA Est By Up To 5% To Factor The Beat & Higher Subscriber Additions

Over FY24-FY27, To Deliver 15/16% CAGR In India Rev/EBITDA Along With Moderating Capex

Support Deleveraging Of $6 Bn Over FY25-26 Which In Turn Will Boost Stock Returns

MS on Bharti Airtel

Overweight Call, Target Rs 1,330

India Mobile Business Beat Vs Est On Revenues & EBITDA

India Mobile Biz Beat Led By Better Subs Additions & Slightly Better ARPU

100% Increase In Dividend/Sh For FY24; Stable Net Debt QoQ Despite Strong OCF

UBS on Bharti Airtel

Neutral, TP Rs 1310

Net adds surprise +vely although ARPU growth muted

Consol EBITDA 5% below UBSe.

Net income largely impacted due to devaluation in Naira

Monitor commentary on capex, 5G rollout progress & potential tariff hikes in FY25

GS on Bharti Airtel

Buy

Another robust qtr

While India capex remains elevated at c.30% of revenues (due to elevated 5G roll-outs), Bharti generated US$2 bn+ of FCF in FY24

See room for meaningful improvement in Bharti’s FCF profile

Jefferies on Bharti Hexacom

Buy Call, Target Rs 1,200 From 1,080

Strong Growth Story Unfolding

Q4 Rev, Up 8% YoY, EBITDA, Up 14% YoY & Profits, Up 10% YoY Were All Ahead Of Est

Higher Than Est Subscriber Additions, ARPUs & Incremental EBITDA Margin Surprised Positively

Raise Our Est By Upto 9%

Expect Hexacom To Deliver 17%/23%/77% CAGR In Rev/EBITDA & Profit Over FY24-27

Bharti Hexacom Is The Best Way To Invest In Improving Telecom Tariffs In India

Nomura on Shree Cements

Buy Call, Target Rs 33,400

Beats All Expectations; Records Highest EBITDA/tonne Again

Q4 Better-Than-Expected Realisation Delivers Strong Beat

Co’s reported EBITDA/t came in higher than Ultratech’s for 3rd quarter in a row

Targets 68.5 mt Capacity Expansion By End Of FY25

To Invest Rs 4,500 Cr On Expansion In FY25

MS on Shree Cements

Overweight Call, Target Rs 30,000

Volumes Were In-Line But Realisations Were Better, Driving Revenue Beat

Await Clarity On Power Sales, Which Looks To Have Accelerated During Qtr

Good Show On Raw Materials Costs & ‘Other’ Opex, Drove EBITDA Beat

Jefferies on Shree Cements

Hold Call, Target Rs 29,500

Reported 49% YoY Ebitda Growth To, A 17% Beat Vs Estimate

Co reported industry-leading (blended) EBITDA/T , flat QoQ

Beat Was On Better Topline & Lower Costs

Like For Like Cement Realisation Dipped 6%QoQ/ 3% YoY (In-line)

Q4 Vols Grew 8% YoY, Tad Below Industry Growth.

Co Targets 12 mtpa Expansion In FY25, Taking Capacity To 65.8 mtpa

HSBC on PVR

Downgrade To Hold, Target Cut To Rs 1,520

PVR Reported Its Weakest Quarter Of FY24 (Below Consensus)

Subdued Occupancy Rate Weighed On Its Margin

Q1FY25 Has Started On A Weak Note

Q2 Faces A High Base; Expect Any Meaningful Growth Recovery Only In H2FY25

Box Office Consistency Essential For Any Meaningful Rerating

Nomura on AIA Eng

Reduce Call, Target Rs 3,580

In-line Results; Muted Earnings Prospects

Cut FY25 /FY26 EPS by 3%/6% Led By Volumes

Forecast Modest 3% EPS CAGR Over FY24-26

Jefferies on Siemens

Buy Call, Target Raised To Rs 8,000

Q2FY24 EBITDA Was 11% Higher Given Better Revenues & Margins

Going Forward, See Co Benefiting From Sizeable Power Transmission Capex Ordering

Capex Should Lead To Operating Leverage Surprises With Higher Capacity Utilisation

Incred on Siemens

Add Call, Target Raised To Rs 7,565

Strong Q2FY24 EBITDA Beat On Est

EBITDA Margin Improved By 249 bps YoY To 15.3%.

Energy Biz To Be Demerged In Ratio Of 1:1 & Become A Separate Listed Entity

Energy Biz Demerger Likely To Be Completed By CY25

UBS on Chemical Sector (Initiate coverage)

Think investors may be ignoring strong niche positions & growth opportunities within context of worst global destocking cycle over past 30 years

See signs of modest volume recovery

Structural growth on capability enhancement and supply chain diversification

End of destocking may aid volumes; prices subdued on excess capacity

Initiate Buy on PI Ind,TP Rs 4800

Prefer given its strong growth, management track record, less volatile biz &potential scale up of pharma biz

Initiate Buy on Navin– TP Rs 4250

Co leveraging growth opportunities in agrochem, CDMO& 3rd/4th-gen refrigerants

Initiate Sell on AArti Ind– TP Rs 615

Greater cyclical dependancy & debt levels coupled with high near-term EBITDA guidance

Initiate Sell on Gujarat Fluor– TP Rs 3000

Exposed to Chinese overcapacity in fluoropolymers while its EV biz still in nascent stage

15 May 2024

Derivative Segment

* Dixon Technologies.

* Granules India Ltd.

* Indian Energy Exchange.

* LIC Housing Finance.

* Power Finance Corporation.

Cash Segment

* Asahi India Glass Ltd.

* Clean Science And Tech.

* Cosmo First Ltd.

* Honeywell Automation.

* Jindal Stainless Ltd.

* Jyothy Labs Ltd.

* Mankind Pharma Ltd.

* MOIL Ltd.

* NCC Ltd.

* NLC India Ltd.

* Redington Ltd.

* Trident Ltd.

16 May 2024

Derivative Segment

* Biocon Ltd.

* Container Corporation.

* Crompton Greaves.

* GAIL (India) Ltd.

* Hindustan Aeronautics.

* Info Edge (India) Ltd.

* Mahindra & Mahindra.

* Vodafone Idea Ltd.

Cash Segment

* Akzo Nobel India Ltd.

* Caplin Point Laboratories.

* eClerx Services Ltd.

* Endurance Technologies.

* Infibeam Avenues Ltd.

* JK Paper Ltd.

* Kaynes Technology.

* KIMS

* Motherson Sumi.

* Prince Pipes.

* Prism Johnson.

* Ratnamani Metals.

* Restaurant Brands.

* Solar Industries.

* Triveni Turbine Ltd.

* V-Guard Industries.

17 May 2024

Derivative Segment

* Astral Ltd.

* Balkrishna Industries.

* Balrampur Chini.

* Bandhan Bank Ltd.

* JSW Steel Ltd.

* Zee Entertainment.

* Zydus Lifesciences.

Cash Segment

* Amber Enterprises.

* Delhivery Ltd.

* Glaxosmithkline Pharma.

* Global Health Ltd.

* Godrej Industries Ltd.

* JB Chemicals.

* NHPC Ltd.

* Pfizer Ltd.

* Poly Medicure Ltd.

* Polyplex Corporation.

* Rail Vikas Nigam Ltd.

* Rashtriya Chemicals.

* Shipping Corporation.

* Sobha Ltd.

* The Phoenix Mills Ltd.

* Varroc Engineering Ltd.

* Vinati Organics Ltd.

18 May 2024

Derivative Segment

Nil

Cash Segment

* Anupam Rasayan.

* Data Patterns (India).

* Gujarat Ambuja Exports.

* Ujjivan Small Finance Bank.

19 May 2024

Derivative Segment

Nil

Cash Segment

* Rainbow Children’s Medicare.

20 May 2024

Derivative Segment

* Bharat Electronics.

* City Union Bank Ltd.

* Deepak Nitrite Ltd.

* Oil & Natural Gas Corp.

* Steel Authority Of India.

* The India Cements Ltd.

Cash Segment

* IRFC.

* KRBL Ltd.

* Nesco Ltd.

* Oil India Ltd.

* Triveni Engineering.

* Whirlpool Of India.

21 May 2024

Derivative Segment

* Bharat Heavy Electricals Ltd.

* NMDC Ltd.

* PI Industries Ltd.

Cash Segment

* Aether Industries Ltd.

* Gujarat State Fertilizers & Chemicals Ltd.

* Hitachi Energy India Ltd.

* NMDC Steel Ltd.

22 May 2024

Derivative Segment

* Grasim Industries Ltd.

* Jubilant FoodWorks Ltd.

* Petronet LNG Ltd.

* Sun Pharmaceutical Industries Ltd.

* The Ramco Cements Ltd.

Cash Segment

* Avanti Feeds Ltd.

* Ester Industries Ltd.

* FSN E-Commerce Ventures Ltd.

* Gland Pharma Ltd.

* GMM Pfaudler Ltd.

* Gujarat Pipavav Port Ltd.

* HEG Ltd.

* Indigo Paints Ltd.

* Star Cement Ltd.

23 May 2024

Derivative Segment

* ITC Ltd.

* Page Industries Ltd.

Cash Segment

* Bikaji Foods International Ltd.

* Esab India Ltd.

* Vaibhav Global Ltd.

24 May 2024

Derivative Segment

* Ashok Leyland Ltd.

* Bosch Ltd.

* Hindalco Industries Ltd.

* Hindustan Copper Ltd.

* Manappuram Finance Ltd.

* Torrent Pharmaceuticals Ltd.

* United Spirits Ltd.

Cash Segment

* Jamna Auto Industries Ltd.

* JM Financial Ltd.

27 May 2024

Derivative Segment

Nil

Cash Segment

* Elgi Equipments Ltd.

* Lakshmi Machine Works Ltd.

* Natco Pharma Ltd.

* Sumitomo Chemical India Ltd.

28 May 2024

Derivative Segment

* Aditya Birla Fashion and Retail Ltd.

Cash Segment

* Amara Raja Energy & Mobility Ltd.

* Medplus Health Services Ltd.

* TTK Prestige Ltd.

29 May 2024

Derivative Segment

* Cummins India Ltd.

* Ipca Laboratories Ltd.

* Samvardhana Motherson International Ltd.

Cash Segment

* Deepak Fertilisers And Petrochemicals Corporation Ltd.

* Emami Ltd.

* RHI Magnesita India Ltd.

30 May 2024

Derivative Segment

* Apollo Hospitals Enterprise Ltd.

Jefferies on Siemens: Maintain Buy on Company, raise target price at Rs 8000/Sh (Positive)

Incred on Siemens: Maintain Buy on Company, raise target price at Rs 7565/Sh (Positive)

Nuvama on Siemens: Maintain Buy on Company, target price at Rs 7700/Sh (Positive)

MS on Bharti Airtel: Maintain Overweight on Company, target price at Rs 1330/Sh (Positive)

Jefferies on Bharti Airtel: Maintain Buy on Company, raise target price at Rs 1590/Sh (Positive)

BofA on Bharti Airtel: Maintain Buy on Company, raise target price at Rs 1430/Sh (Positive)

UBS on Bharti Airtel: Maintain Buy on Company, target price at Rs 1310/Sh (Positive)

MS on Shree Cement: Maintain Overweight on Company, target price at Rs 30000/Sh (Positive)

Nomura on Shree Cement: Maintain Buy on Company, raise target price at Rs 33400/Sh (Positive)

UBS on PI Ind: Initiate Buy on Company, target price at Rs 4800/Sh (Positive)

UBS on Navin Flourine: Initiate Buy on Company, target price at Rs 4250/Sh (Positive)

JP Morgan on Blue Jet: Initiate Neutral on Company, target price at Rs 360/Sh (Neutral)

Nomura on AIA: Maintain Reduce on Company, target price at Rs 3580/Sh (Neutral)

UBS on Aarti Ind: Initiate Sell on Company, target price at Rs 615/Sh (Neutral)

UBS on Gujarat Flouro: Initiate Sell on Company, target price at Rs 3000/Sh (Neutral)

JP Morgan on Apollo Tyre: Maintain Neutral on Company, target price at Rs 535/Sh (Neutral)

Macquarie on Shree Cem: Maintain Neutral on Company, target price at Rs 27034/Sh (Neutral)

Jefferies on Shree Cem: Maintain Hold on Company, target price at Rs 29500/Sh (Neutral)

Citi on JK Cem: Maintain Sell on Company, target price at Rs 3550/Sh (Neutral)

Nuvama on Devyani: Maintain Buy on Company, target price at Rs 212/Sh (Neutral)

Emkay on Devyani: Maintain Reduce on Company, target price at Rs 160/Sh (Neutral)

Amid mixed global cues, domestic markets are expected to open on flat note. At 22,370, Nifty futures in Gift City signals a flat-to-positive opening against Nifty futures closing of 22,308 .

However, the unabated selling by foreign instistuional investors is a cause for concern, said analysts. According to them, with the lack of triggers, activity will be centred around individual stocks. 

FPIs remained net sellers for the ninth consecutive session on Tuesday. They offloaded stocks worth ₹4,065.5 crore, according to provisional data from the exchanges.

Siemens: Net profit at Rs 803 cr vs poll Rs 548 cr, Revenue at Rs 5750 cr vs poll of Rs 5566 cr

Kirlos Bros: Net profit at ₹142.7 cr vs ₹90.7 cr (YoY), Revenue 9% at ₹1,224 cr vs ₹1,124 cr (YoY)

Radico: Net Profit at Rs 54 cr Vs Rs 43 cr, Revenue at Rs 1079 cr vs Rs 832 cr (YoY) 

Thyrocare: Net Profit at Rs 17.2 cr Vs Rs 12.5 cr, Revenue at Rs 154 cr vs Rs 136 cr (YoY) 

Bharti Hexa: Net Profit at Rs 223 cr Vs Rs 202 cr, Revenue at Rs 1868 cr vs Rs 1733 cr (YoY) 

Oberoi: Net Profit at Rs 788 cr Vs Rs 480 cr, Revenue at Rs 1315 cr vs Rs 961 cr (YoY)

Safari: Net Profit at Rs 43.2 cr Vs Rs 38.0 cr, Revenue at Rs 365 cr vs Rs 303 cr (YoY) 

Repco Home: Net Profit at Rs 113.7 cr Vs Rs 84.0 cr, NII at Rs 163 cr vs Rs 147 cr (YoY)

Shree Cement: Net Profit at ₹ 661.8 cr vs poll ₹ 608 cr, Revenue at ₹5,101 cr vs poll ₹ 4,945 cr

Colgate: Net profit at Rs 379.8 cr vs poll of Rs 365 cr, Revenue at Rs 1,490 cr vs poll of Rs 1,486 cr 

Apar Industries: Company has recommended a Final dividend of Rs.51 per share

Infosys: Company in multi-year pact with UAE’s First Abu Dhabi Bank to optimize and modernize IT infra 

Shyam Metaliks: Approved CAPEX of RS 700cr for production of flat rolled aluminum products 

*RBL Bank:*Company receives RBI’s approval for Quant Money Managers Ltd acquisition 

*IndiGo:*Company plans to expand regional network with order of 100 smaller planes 

Shilpa Med: Clinical trial completed of liver disease treatment drug

Aurionpro: Approved Issue of Bonus Shares in the ratio of 1: 1 

Bharti Airtel: Net Profit at Rs 2068 crore versus poll of Rs 2050 crore, Revenues at Rs 37599.0 crore versus poll of Rs 38315 crore 

AIA Engg: Net profit at ₹260.5 cr vs ₹268.2 cr (YoY), Revenue at ₹1,150 cr vs ₹1,274 cr (YoY) 

CE Info: Net profit at Rs 38 cr vs Rs 31 cr, Revenue at Rs 107.0 cr vs Rs 92.0 cr 

Jubilant Ingre: Net profit at Rs 29 cr vs Rs 39 cr, Revenue at Rs 1074.0 cr vs Rs 966.0 cr 

BLS INTL: Net profit at ₹85.45 cr vs ₹76.73 cr, Revenue at ₹448 cr vs ₹449 cr (YoY)

Shyam Metalics: Net profit at ₹220. Cr vs ₹254.2 cr, Revenue at ₹3,606 cr vs ₹3,428 cr (YoY) 

Nilkamal: Net profit at ₹36 cr vs ₹48 cr, Revenue at ₹834 cr vs ₹829 cr (QoQ)

Surya Roshni: Net profit at ₹103.9 cr vs ₹155.5 cr, Revenue at ₹2,080 cr vs ₹2,151 cr (YoY) 

Patanjali: Net profit at ₹206.3 cr vs ₹263.7 cr, Revenue at ₹8222 cr vs ₹7873 cr (YoY) 

*Apollo Tyres:*Net profit at ₹354 cr vs ₹410.3 cr, Revenue at ₹6,258 cr vs ₹6,247.3 cr (YoY)

*Andhra Paper:*Company approves splitting each share into 5 

M&M: Mahindra Holdings to sell its 30.84% stake in New Delhi Centre For Sight for Rs 425.4 crore to Space Investments, Defati Investments & Infinity Partners 

*Siemens India:*Company announces capex of over Rs 1,000 crore for expansion of operations. 

Big Bloc Construction: Company announces temporary shutdown of Umargam plant for 45-60 days 

Cipla: Promoter Group looking to sell upto 2.53% stake in Cipla via block deal, offer size at ₹2,637 cr

IOL CP: Net profit at Rs 27.6 cr vs Rs 64.8 cr, Revenue at Rs 504 cr vs Rs 587 cr (YoY)

Butterfly: Net loss at Rs 19.8 cr vs Rs 1.6 cr, Revenue at Rs 166 cr vs Rs 187 cr (YoY) 

Dalmia Sugar: Net profit at Rs 91.0 cr vs Rs 125.0 cr, Revenue at Rs 750 cr vs Rs 1149 cr (YoY) 

Speciality: Net profit at Rs 3 cr vs Rs 56 cr, Revenue at Rs 96 cr vs Rs 88 cr (YoY)

VMart: Net loss at Rs 39 cr vs Rs 37 cr, Revenue at Rs 669 cr vs Rs 594 cr (YoY)

DCM Nouvelle: A fire at one of the cotton warehouses of the Company at Hisar Plant

Fitch Ratings has affirmed Indian Railway Finance Corporation Limited’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at ‘BBB-’. The Outlook is Stable, in line with that of the Indian sovereign (BBB-/Stable). Fitch has also affirmed IRFC’s USD7 billion global medium-term note programme and outstanding senior unsecured note rating at ‘BBB-’.

WhiteOak Capital Mutual Fund today announced the launch of their new fund offer (NFO) - ‘WhiteOak Capital Special Opportunities Fund’, an open-ended equity scheme that will be following special situations theme. The NFO opens on 15th May and closes on 29th May, 2024.

Cipla’s promoter group is looking to sell up to 2.53 per cent stake in Cipla through a block deal at an offer size of ₹2,637 crore, sources told businessline. The price range is expected to be between ₹1,289.50 and ₹1,357.35, per sources.

Mahindra & Mahindra said that Mahindra Holdings, wholly owned subsidiary of the company, to sell its 30.83 per cent stake in New Delhi Centre for Sight Ltd for ₹425.4 crore to Space Investments, Defati Investments & Infinity Partners.

Quick service restaurant operator Devyani International Ltd (DIL) and cinema exhibitor PVR INOX on Tuesday said they will jointly establish a company for development and operation of food courts within shopping malls in India. This partnership will empower DIL and PVR INOX to reach a wider audience and expand their market presence, the two firms said in a joint statement.

Siemens Ltd said on Tuesday it will demerge its energy business into a separate listed entity to focus on core businesses that meet the demands of shareholders at its German parent, Siemens AG. Siemens Ltd in December 2023 had said that it was exploring a spin-off of its energy business at the behest of some of its stakeholders. Siemens Energy sold an 18 per cent stake in the Indian entity to Siemens AG for about €2.1 billion to enable the demerger. The German engineering group had spun off and listed Siemens Energy in 2020. Shareholders of Siemens Ltd will receive one share of Siemens Energy India for every share held, the company said.

Results Calendar: A2Z Infra Engineering Limited, Abc Gas (International) Ltd., Aik Pipes And Polymers Ltd., Amanaya Ventures Ltd., Arihant Superstructures Limited, Asahi India Glass Ltd., Bharat Seats Ltd., Bmw Industries Ltd., BN Holdings Ltd., Cantabil Retail India Ltd., Clean Science And Technology Ltd., CMS Info Systems Ltd., Containerway International Ltd., Cosmic CRF Ltd., Cosmo First Ltd., CSL Finance Ltd., Deccan Bearings Ltd., Deep Industries Ltd., Dixon Technologies (India) Ltd., Delton Cables Ltd., Duncan Engineering Ltd., Esaar (India) Ltd., Finkurve Financial Services Ltd., Freshtrop Fruits Ltd., Ganges Securities Ltd., Gccl Infrastructure & Projects Ltd., Goa Carbon Ltd., Gokul Agro Resources Ltd., Granules India Ltd., Gtl Ltd., Gujarat Credit Corporation Ltd., Honeywell Automation India Ltd., Hpl Electric & Power Ltd., Indian Energy Exchange Ltd., Jhandewalas Foods Ltd., Jost’s Engineering Co. Ltd., Jindal Stainless Ltd., Jyothy Labs Ltd., Kisan Mouldings Ltd., Kokuyo Camlin Ltd., Kusam Electrical Industries Ltd., Lic Housing Finance Ltd., Mankind Pharma Ltd., Medi Assist Healthcare Services Ltd., Megasoft Ltd., Modella Woollens Ltd., Moil Ltd., Mukand Ltd., Nagarjuna Fertilizers And Chemicals Ltd., National Plastic Technologies Ltd., Ncc Limited, Nectar Lifesciences Ltd., Nirlon Ltd., Nlc India Ltd., Nureca Ltd., Omkar Overseas Ltd., Palash Securities Ltd., Panabyte Technologies Ltd., Paradeep Phosphates Ltd., Power Finance Corporation Ltd., Pitti Engineering Ltd., Premco Global Ltd., Pricol Ltd., Rama Vision Ltd., Rane Holdings Ltd., Redington Ltd., Regent Enterprises Ltd., R&B Denims Ltd., Keystone Realtors Ltd., Sandur Manganese & Iron Ores Ltd., Sbc Exports Ltd., Sea Tv Network Ltd., Sequent Scientific Ltd., Sicagen India Ltd., Signatureglobal (India) Ltd., Snl Bearings Ltd., Somany Ceramics Ltd., Shriram Asset Management Co. Ltd., Step Two Corporation Ltd., Transport Corporation Of India Ltd., Thomas Cook (India) Ltd., Tijaria Polypipes Ltd., Thirumalai Chemicals Ltd., Titagarh Rail Systems Ltd., Trf Ltd., Tuticorin Alkali Chemicals And Fertilizers Ltd., Umiya Tubes Ltd., U. Y. Fincorp Ltd., Vaxfab Enterprises Ltd.,Visaka Industries Ltd., Wonder Electricals Ltd., Welspun Investments And Commercials Ltd.

The Initial Public Offer (IPO) of Piotex Industries Limited received an overwhelming response from the investors as it recorded 108 times subscription until the final day of bidding. The leading yarn and cotton bale supplier aimed to raise Rs. 14.47 crore from the issue that was floated between May 10 and 14, 2024.

The Non-Institutional Investors (NII) quota was subscribed 122 times and the Retail Individual Investors (RII) quota was subscribed 94 times, bringing the overall subscription to 108 times until the final day of bidding on Tuesday, May 14, 2024.

The price band of the issue was fixed at Rs. 94/- per Equity Share with a face value of Rs. 10 apiece. The IPO comprised a fresh issue of 15.4 lakh Equity Shares with a face value of Rs. 10/- through the book-building route. The minimum lot size for the application is 1,200 Equity Shares. The company is proposed to be listed on BSE SME.

Beeline Capital Advisors Private Limited is the sole Book Running Lead Manager, and Cameo Corporate Services Limited is the Registrar for the issue.

Piotex Industries proposes to utilize the net proceeds from the IPO to fund its working capital requirements, general corporate purposes and meet issue expenses.

This trend is driven by factors such as perceived safety, attractive returns, and the convenience offered by ETFs.

“There is a growing appetite for investing in gold ETFs (exchange-traded funds), which are increasingly being considered as safe investments governed by tight regulations,” says Ashwini Kumar, Senior Vice President and Head Market Data, ICRA Analytics, “Furthermore, a significant number of these ETFs have delivered exceptional one-year returns exceeding 18%.”

“Buying physical gold comes with its fair share of risk, including storage, theft and impurities, thereby impacting the returns. Gold ETFs are comparatively safer as they are governed by tight regulations and are traded on exchanges on a real-time basis. Moreover, the price of gold and its returns in an ETF is the same as physical gold, and the cost of buying a gold ETF is lower as compared to buying the yellow metal.” he added. 

According to data available on the AMFI (Association of Mutual Funds in India) website, gold ETFs witnessed net inflows to the tune of around Rs 2028.05 crore during the January-March 2024 period, as against net outflows of Rs 300.58 crore January-March 2023. The net inflows have increased by nearly 60.59 per cent from Rs 1262.91 crore registered during the October-December 2023 period. The net assets under management (AUM) under gold ETF as on March 31, 2024, grew by nearly 37 per cent to touch Rs 31,224 crore, as against Rs 22,737 crore in the same period last year. As of April 30, 2024, the net AUM under gold ETF increased by 43 per cent to touch Rs 32,789 crore, as compared with Rs 22,950 crore in the same period last year.

Investing in US markets has become increasingly popular among Indian investors as more and more individuals have started realizing the benefits of diversifying their investments geographically. However, filing tax returns for US investing was a cumbersome process as besides capital gains, investors are also required to furnish a series of Schedules that outline an investor’s foreign asset holdings. To simplify the process, Vested started offering easy Tax Documents to its customers starting in 2020.

Now, to further simplify the US tax filing process for Indians, Vested has announced the integration of ClearTax on its platform.

* BALRAMCHIN

* BSOFT

* CANBANK

* GMRINFRA

* HINDCOPPER

* PEL

* VODAFONE IDEA

* SAIL

* ZEEL

Researchbytes Events Update

As of 07:19 AM Wednesday 15 May 2024

Can set alert for them at www.researchbytes.com 

9:30 AM Patanjali Foods

Dial: +91 22 6280 1309

Weblink: https://tinyurl.com/2cv69mvs

10:00 AM Sagar Cement

(Results)

Weblink: https://tinyurl.com/329fnxe4

10:30 AM Colgate

Weblink: https://tinyurl.com/29hpj287

10:30 AM OnMobile Global

Dial: +91 22 6280 1107

Weblink: https://tinyurl.com/mv2atzcs

10:30 AM KDDL

Dial: +91 22 6280 1309

Weblink: https://tinyurl.com/tr5e9kr5

11:00 AM Shree Cement

Dial: +91 22 6280 1144 

Weblink: https://tinyurl.com/2p9xw3nd

11:00 AM Avadh Sugar

(Results, Investor/Analyst Presentation, Press Release )

Dial: +91 22 6280 1256

Weblink: https://tinyurl.com/56nt65jz

11:00 AM Ideaforge Techn

Dial: +91 22 6280 1550

Weblink: https://tinyurl.com/5btfh4a3

11:30 AM SanjivParant

Dial: +91 22 6280 1268

Weblink: https://tinyurl.com/5frvxyvp

12:00 PM Speciality Rest

Dial: +91 22 6280 1144

Weblink: https://tinyurl.com/4me8k7ps

12:00 PM Surya Roshni

Dial: +91 22 6280 1309

Weblink: https://tinyurl.com/3yzfda89

12:00 PM ZIM Laboratorie

Dial: +91 22 6280 1557

1:00 PM Beta Drugs

Dial: 022 6280 1143

Weblink: https://tinyurl.com/mr3mdxfu

2:00 PM Magadh Sugar

Dial: +91 22 6280 1256

Weblink: https://tinyurl.com/ydxwfe8n

2:30 PM Bharti Airtel

(Press Release )

Weblink: https://tinyurl.com/zz7bd28b

2:30 PM Eco Recycling

Dial: +91 22 6280 1239 

Weblink: https://tinyurl.com/y3zttmyy

3:00 PM V-Mart Retail

Weblink: https://tinyurl.com/m5dnmcwn

3:00 PM Kirloskar Brothers

Dial: +91 22 6280 1309 

Weblink: https://tinyurl.com/a4tfcjx9

3:30 PM Apollo Tyres

No Contact Available

Please check again for details @ www.researchbytes.com 

3:30 PM Power Finance

*Analyst Meet:*Jio World Convention Centre Meeting Suite No. 104 A & B, Gate 20, Bandra Kurla Complex, Bandra (EAST), Mumbai 400098

4:00 PM Rulka Electroni

Weblink: https://tinyurl.com/f2c372wb

( Hosted by Fortuna PR )

4:00 PM Radico Khaitan

Dial: +91 22 6280 1116 

Weblink: https://tinyurl.com/2s4ybbh7

4:00 PM Advanced Enzyme

Dial: + 91 22 6280 1403

Weblink: https://tinyurl.com/3w9dz7rx

4:00 PM BLS International Services

Dial: +91 22 6280 1107

Weblink: https://tinyurl.com/2pthu92p

4:00 PM Clean Science and Technol

Dial: +91 22 6280 1145

Weblink: https://tinyurl.com/m6cbzmjr

4:00 PM Oberoi Realty

Dial: +91 22 6280 1244 

Weblink: https://tinyurl.com/ywkhd4eh

4:00 PM Aarti Pharmalab

Dial: +91 22 6280 1341

Weblink: https://tinyurl.com/5xvm7jsf

( Hosted by Valorem )

4:00 PM Aurionpro Sol

Dial: +91 22 6280 1341

Weblink: https://tinyurl.com/29w2f26s

( Hosted by Adfactors )

4:00 PM Abans Holdings

Dial: +91 22 6280 1341

Weblink: https://tinyurl.com/58vbuzwm

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4:00 PM PDS Limited

Dial: +91 22 6280 1490

Weblink: https://tinyurl.com/43z26dw5

4:00 PM Man Infra

Dial: +91 22 6280 1557

Weblink: https://tinyurl.com/2ekvbhnv

5:00 PM Somany Ceramics

Dial: +91 22 6280 1317

Weblink: https://tinyurl.com/2na6236u

5:00 PM Keystone Realto

Dial: +91 22 6280 1145 

Weblink: https://tinyurl.com/3pwr2s46

5:00 PM Edelweiss Fin Serv

Dial: +91 22 6280 1284

Weblink: https://tinyurl.com/3m99e8nd

5:00 PM Granules India

Dial: +91 22 6280 1550

Weblink: https://tinyurl.com/mtrmxjuv

5:00 PM NCC

Dial: +91 22 62801366

Weblink: https://tinyurl.com/5n7n988s

5:00 PM Dixon Technolog

Dial: +91 22 62801384

Weblink: https://tinyurl.com/yyj5h83t

5:30 PM Niyogin Fintech

Dial: 022 6280 1555

Weblink: https://tinyurl.com/2s3f52b4

ADDITIONS

AB AMC, ALOK IND, AZAD ENG, CHOICE INT, DILIP BUILDCON, DOMS, DYNAMATIC TECH, EMUDHRA, FORCE MOTOR, GILLETTE, GREENLAM, HAPPY FORGINGS, HUDCO, IGL, INOX INDIA, JUNIPER HOTELS, PAYTM, ORCHID, PURAVANKARA, R R KABEL

SANGHVI MOVERS

DELETIONS

ALOK IN, BOROSIL, BRIGHTCOM, DREAMFOLKS , FORCE MOTORS, GREAVES COTTON, HINDWARE HOME , INDOCO REMEDIES, NEXUS SELECT TRUST, PB FINTECH, PHOENIX MILLS, POLYPLEX, RAJRATAN GLOBAL, SHARDA CROPCHEM, TATVA CHINTAN

ADDITIONS

BOSCH 

CANARA BANK 

INDUS TOWERS 

JINDAL STAINLESS

JSW ENERGY

MANKIND PHARMA

NHPC

PB FINTECH

PHOENIX MILLS

SOLAR INDUSTRIES INDIA

SUNDARAM FINANCE

THERMAX

TORRENT POWER

DELETIONS

BERGER PAINTS

INDRAPRASTHA GAS

ONE 97 COMMUNICATIONS (PAYTM)

Dynatrace, Inc. (Pre market) (Sector- Technology) 

Sportradar Group AG (Pre market) (Sector- Technology) 

MakeMyTrip Limited (Pre market) (Sector- Entertainment) 

Cisco Systems, Inc. (Post market) (Sector- Technology) 

ZTO Express (Cayman) Inc. (Post market) (Sector- Logistics) 

Grab Holdings Limited (Post market) (Sector- Technology)

Hong Kong and Korea -- Market Holiday

14:30 EURO Final GDP q/q (Expected: 0.30% versus 0.30%)

18:00 U.S. CPI m/m (Expected: 0.40% versus 0.40%)

18:00 U.S. Retail Sales m/m (Expected: 0.40% versus 0.70%)

Initiating coverage in order of preference: PI, Navin, Aarti, GFL

PI Industries (Buy, Rs 4,800), Navin (Buy, Rs 4,250), Aarti (Sell, Rs 615) and Gujarat Fluorochemicals (Sell, Rs 3,000).

Safari Industries – Q4 FY24 First Cut- CMP- ₹2045- Mcap- Rs 9,900 crore 

‘Best-ever gross margins’

Safari Industries reported a revenue growth of 20.7% YoY to Rs. 36.54 crore (largely in line with our estimates). Strong growth across channels continues to drive growth (VIP topline growth of 14.4%, value segment growth of 31% YoY)

The company reported its best-ever gross margins at 50.6% as against 47.9% YoY (+270bps QoQ), despite a sharp improvement in gross margins, OPM contracted by 100bps YoY to 18.3%. Other expenses for the quarter grew by 48% YoY. EBITDA for the quarter stood at Rs. 669mn, a growth of 14.7% YoY.

PAT for the quarter stood at Rs.432mn, a growth of 13.4% YoY.

Outlook

Safari continues to see robust growth, driven by robust growth in the value segment, while gross margins continue to reach new highs. While overall margins saw a decline it remains at good levels. We continue to hold a positive view on the stock with a target price of Rs. 2,320. we reassess our stance shortly

Provisional Cash Rs. In Crs.

FII/FPI: NET SELL: -4065.52 

(9988.34 - 14053.86) 

DII: NET BUY: +3527.86 

(11455.11 - 7927.25)

Market Indices

NIFTY 50 : 22,217.85

⬆️+113.80/+0.51%

SENSEX : 73,104.61

⬆️+328.48/+0.45%

BANKNIFTY :47,859.45

⬆️+105.35/+0.22%

INDIAVIX: 20.19

⬇️-0.41/-1.98%

Rising stocks: 1776

_Falling stocks: 474

Top 3 stock gainers(NIFTY 500): 

▪️Cochin Shipyard(⬆️+12.38%)

▪️Finolex (⬆️+11.11%)

▪️Railtel (⬆️+9.56%)

Top 3 stock losers(NIFTY 500): 

▪️Tube Investment (⬇️-4.51%)

▪️UPL (⬇️-4.50%)

▪️Cipla (⬇️-4.05%)

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI

The stock of Amara Raja Energy & Mobility witnessed a sharp rally in April. But after registering a record high of ₹1,202 towards the end of last month, it lost some momentum.

On the daily chart, the scrip has formed a morning star candlestick pattern, indicating that the uptrend is set to resume.