Share Market Highlights 16 May 2024: Sensex gains 676 pts; Nifty settles above 22,400

The rupee stayed range-bound and settled 4 paise lower at 83.50 (provisional) against the US dollar on Thursday, weighed down by unabated foreign fund outflows amid investors’ weak appetite for riskier assets.

However, a firm trend in domestic equities supported the local unit and restricted its losses, forex traders said.

The rupee remains under pressure due to ongoing elections and foreign fund outflows, and the same shall subside once the results are out, they added.

Hindustan Aeronautics Ltd (HAL) reported a rise in fourth-quarter profit on Thursday, helped by demand for its aircraft from the country’s defence ministry.

Consolidated net profit rose 52 per cent year-on-year to ₹4,309 crore for the three months ended March 31.

Mahindra & Mahindra on Thursday reported a 4 per cent increase in consolidated profit after tax (PAT) to ₹2,754 crore for the March quarter, driven by strong performance of its automotive and farm sector segments.

The company had posted a consolidated PAT of ₹2,637 crore in the January-March quarter of the 2022-23 fiscal, M&M said in a regulatory filing.

BSE Sensex closed higher by 676.69 pts, or 0.93 per cent, at 73,663.72, while the broader NSE Nifty50 ended at 22,403.85, 203.30 pts or, 0.92 per cent, higher.

Mahindra & Mahindra, Tata Consumers, Bharti Airtel, LTI Mindtree and Tech Mahindra were top gainers on the NSE, while Maruti, SBI, Tata Motors, Power Grid Corporation, and BPCL were top losers on Thursday’s trade.

HAL stock surged 10 per cent on the NSE closing at ₹4,637.90 after Q4 results. 

Mahindra & Mahindra closed at ₹2,393.90, higher by 3.98 per cent.

Artemis Medicare Services Ltd. has raised ₹330 crore funding in the form of compulsorily convertible debentures (CCDs) from International Finance Corporation (IFC), a member of the World Bank Group.

Artemis Medicare Services stock rose 2.46 per cent on the BSE to close at ₹187.70, show provisional data on the exchange.

Shares of Oberoi Realty climbed nearly 9 per cent on Thursday’s trade. The company’s consolidated net profit for the March quarter of 2024 increased 64 per cent and announced plans to raise up to ₹4,000 crore through issuance of equity shares and non-convertible debentures. Read more

Top gainers include Mahindra and Mahindra (3.50%), Tata consumers (2.93%), Tech Mahindra (2.75%), Bharti Airtel (2.75%), Ltimindtree (2.49%)

Top losers include Maruti Suzuki (-2.13%), Dr Reddy laboratories (-0.99%), Tata Motors (-0.96%), State Bank of India (-0.91%), Bharat Petroleum Corporation (-0.82%)

Of 3,945 stocks that were actively traded on the BSE at 3.25 pm, 2,083 advanced, 1,726 declined and 140 stocks remained unchanged, where 193 stocks hit a 52-week high and 30 stocks hit a 52-week low. 

“The swift rise in silver prices is primarily due to its unique industrial properties, which set it apart from gold. Key industrial metals like Copper, Aluminium, Zinc, and Lead prices have risen sharply since April on worries over supply threat. This has prompted speculators to bet largely on silver. In addition, a record high gold prices, escalating geopolitical tensions and hopes of US interest rate cuts also aided the sentiments.

The ongoing momentum-driven buying is likely to extend in the immediate run driven by a robust rally in gold and other industrial metals. Expectations of interest rate cuts, escalating geopolitical tensions, and enduring inflation concerns could help prices stay firm in the immediate run. Investors can add silver into their portfolio but should be limited to below 5 percent. Periodic buying in small quantities is advised for greater benefits. Investors should also consider that silver prices can be highly volatile due to speculation, which can lead to short term price surges. Silver is one of the most volatile precious metals and its volatility can be twice or thrice greater than gold in some days.

Nowadays silver is largely used in industrial applications. Almost 50 percent of silver produced globally is used for industrial areas. The electoral and thermal conductivity of the metal makes it an ideal material for automobile and solar industries. China plays an increasingly important role in the global silver market. The country is a major player in various industries, including electronics, solar energy, and manufacturing in which silver is widely used. Therefore growth in this sector in the country contributes to the demand for the commodity in the long run.”

Info Edge India Ltd’s Q4 results show a 7.9% revenue growth to ₹608.3 crore with an operating profit of ₹224.8 crore, up 8.9% from the previous year. Stock trades at ₹5846.90 down by 1.59% on the BSE.

Aurionpro Transit, a subsidiary of Aurionpro, has facilitated the integration of its app-based and ORS ticketing solution with Google Wallet. Read more

Lincoln Pharmaceuticals Ltd, a Gujarat-based healthcare company reported a 28 per cent growth in net profit for the year ending March 31, 2024, an official release stated here Thursday. Read more

Lead futures on the Multi Commodity Exchange (MCX) have been hovering around a substantial resistance in the ₹194-196 price band. While there has not been a bearish reversal yet, the bulls, too, have not been successful in pushing the contract above the resistance. It is now trading around ₹195. Read more

Brookfield India Real Estate Trust reported an 89 per cent increase in net operating income in the fourth quarter of FY24 on the back of robust leasing and rent escalations. Read more

Mahindra and Mahindra Ltd reported a consolidated PAT of ₹11,269 crore, up 25%, in FY24. The company has declared a dividend of ₹21.10 per share, up 30%. The stocks trade at ₹2,315, up by 0.58% on the BSE.

BSE Sensex declined by 109.15 pts or 0.15 per cent at 72,877.88 as of 12.35 pm, and Nifty 50 dropped 32.95 pts or 0.15 per cent at 22,167.60.

Sectoral indices traded in a mix. Nifty realty rose 1.27 per cent to trade at 977.25 as of 12.37 pm. Nifty PSU Bank declined by 1.29 per cent to trade at 7,068.05 and nifty bank slid by 0.26 per cent at 47,565.20.

The major gainers on the NSE were Bharti Airtel (1.93 per cent), Tech Mahindra (1.53%), LTIMindtree (1.21%), Infosys (1.17%), and Tata Consumer Products (0.80%). Meanwhile, Maruti (-2.59%), Tata Motos (-1.89%), Power Grid (-1.81%), SBI (-1.44%), and Bajaj Auto (-1.37%) were top decliners..

Aurionpro Solutions Ltd’s subsidiary Aurionpro Transit partnered with Google to integrate its app-based and ORS ticketing solution with Google Wallet. Stock trades at ₹2531 down by 2.41% on the BSE.

Mphasis Limited granted 7,500 stock options to an employee under the ESOP 2016 plan, effective May 14, 2024, at an exercise price of ₹2,300 per stock option. The options vest over 5 years and are exercisable within 60 months from the date of vesting. The shares were up by 3.08% to ₹2343 on the BSE.

Lincoln Pharmaceuticals Ltd reported financial performance in FY 2023-24, with a net profit of ₹93.37 crore, EBITDA of ₹134.33 crore. The company recommended a dividend of 18% per share for the fiscal year. Stocks trade at ₹583 down by 2.52% on the BSE.

Sunshield Chemicals Limited completed capacity enhancement and modernization projects, including debottlenecking of EO/Theic unit. The shares were up by 13.85% to Rs 888.50 on the BSE.

Persistent Systems achieved Premier Services Partner status with Snowflake, to enhance data management and analytics capabilities. This partnership enables client data journeys and maximized business value through Snowflake’s Data Cloud. The shares were up by 0.46% to ₹3496 on the BSE.

Top gainers on the NSE include - Bhari Airtel (1.87%), Tech Mahindra (1.71%), Ltimindtree (1.26%), Infosys (1.21%), Tata consumer products (1.06%)

Top losers include- Maruti Suzuki (-2.44%), Tata motors (-1.78%), Power grid corporation (-1.64%), Bajaj Auto (-1.38%), State Bank of India (-1.38%)

A total of 3,834 stocks were actively traded, 2,043 advanced, while 1,656 declined and 135 stocks remained unchanged where 171 stocks hit a 52 week high and 26 stocks hit a 52 week low on the BSE at 12.42 pm

Cosmo First Limited is incorporating a wholly owned Indian subsidiary named Zigly Pet Ventured Ltd. in preparation of the transfer of Company’s Pet care business. The shares were up by 2.03% to ₹593 on the BSE.

CI Industries Limited allotted 7415 Non-Convertible Redeemable Preference Shares (NCRPS) on a private placement basis. The shares were issued at a face value of Rs 100 each, with a premium of Rs 300 each, to individuals belonging to the Promoter and Promoter Group. The shares were up by 1.53% to Rs 1457 on the BSE.

Titagarh Rail Systems stock rose over 7 per cent on Thursday’s trade after Q4 results.

The company reported its consolidated net profit for the quarter ended March 2024 at ₹78.94 crore as against ₹48.23 crore in the corresponding quarter last year. Its consolidated revenue from operations stood at ₹1,052 crore for the quarter ended March 2024 as against ₹974.2 crore in the corresponding quarter last year.

Titagarh board had recommended dividend of 40 per cent (i.e. ₹0.80) per equity share of ₹2 each for the financial year 2023-2024.

Cyient DLM Limited granted 2,15,240 stock units under its RSU Scheme 2023, as approved by the Nomination and Remuneration Committee. The shares were up by 0.59% to Rs 669.20 on the BSE.

(Nirmal Bang Retail Research)

Result improved 

Revenue from Operations came at Rs. 327.9 Cr (11.7% QoQ, 32.5% YoY) vs QoQ Rs. 293.6 Cr, YoY Rs. 247.5 Cr 

EBIDTA came at Rs. 48.6 Cr (10.3% QoQ, 19.9% YoY) vs QoQ Rs. 44.1 Cr, YoY Rs. 40.6 Cr 

EBITDA Margin came at 14.8% vs QoQ 15%, YoY 16.4% 

Adj. PAT came at Rs. 40.4 Cr vs QoQ Rs. 13.3 Cr, YoY Rs. 24.8 Cr 

Quarter EPS is Rs. 12.6 

Stock is trading at P/E of 25.8x FY25E EPS

(Nirmal Bang Retail Research) 

Result marginally Below Expectation 

Revenue from Operations came at Rs. 121.3 Cr (5.2% QoQ, 13.3% YoY) vs expectation of Rs. 127.7 Cr, QoQ Rs. 115.3 Cr, YoY Rs. 107 Cr 

EBIDTA came at Rs. 104.6 Cr (5.9% QoQ, 12.3% YoY) vs expectation of Rs. 110 Cr, QoQ Rs. 98.8 Cr, YoY Rs. 93.1 Cr 

EBITDA Margin came at 86.2% vs expectation of 86.1%, QoQ 85.7%, YoY 87% 

Adj. PAT came at Rs. 96.7 Cr vs expectation of Rs. 98.4 Cr, QoQ Rs. 91.8 Cr, YoY Rs. 88.3 Cr 

Quarter EPS is Rs. 1.1 

Stock is trading at P/E of 33.5x FY25E EPS

(Nirmal Bang Retail Research)

Sales volume came at 570k MT vs QoQ 512K MT YoY 508K MT 

Result inline with Expectation 

Revenue from Operations came at Rs. 9454 Cr (3.6% QoQ, -3.2% YoY) vs expectation of Rs. 9497 Cr, QoQ Rs. 9127.5 Cr, YoY Rs. 9765.1 Cr 

EBIDTA came at Rs. 1035.2 Cr (-16.9% QoQ, -9.5% YoY) vs expectation of Rs. 1075.8 Cr, QoQ Rs. 1246.2 Cr, YoY Rs. 1143.9 Cr 

EBITDA Margin came at 10.9% vs expectation of 11.3%, QoQ 13.7%, YoY 11.7% 

Adj. PAT came at Rs. 502.4 Cr vs expectation of Rs. 565.9 Cr, QoQ Rs. 692.3 Cr, YoY Rs. 765.8 Cr 

Quarter EPS is Rs. 6.1 

Stock is trading at EV/EBITDA of 8.6x FY26 EBITDA

(Nirmal Bang Retail Research)

Result is marginally above expectations 

Revenue from Operations came at Rs. 5446 Cr (14.7% QoQ, 35.6% YoY) vs expectation of Rs. 4864.3 Cr, QoQ Rs. 4746.9 Cr, YoY Rs. 4016.3 Cr 

EBIDTA came at Rs. 509.7 Cr (6.3% QoQ, 20.3% YoY) vs expectation of Rs. 492.8 Cr, QoQ Rs. 479.3 Cr, YoY Rs. 423.8 Cr 

EBITDA Margin came at 9.4% vs expectation of 10.1%, QoQ 10.1%, YoY 10.6% 

Adj. PAT came at Rs. 187.4 Cr vs expectation of Rs. 243.2 Cr, QoQ Rs. 212.8 Cr, YoY Rs. 177.7 Cr 

Quarter EPS is Rs. 3 

Stock is trading at P/E of 16.1x FY25E EPS

(Nirmal Bang Retail Research) 

Sales volume came at 4.35mnT vs QoQ 3.44mnT YoY 3.91mnT 

Result improved 

Revenue from Operations came at Rs. 415.9 Cr (35.8% QoQ, -2.8% YoY) vs QoQ Rs. 306.3 Cr, YoY Rs. 428.1 Cr 

EBIDTA came at Rs. 128.3 Cr (43.4% QoQ, -3.2% YoY) vs QoQ Rs. 89.4 Cr, YoY Rs. 132.5 Cr 

EBITDA Margin came at 30.8% vs QoQ 29.2%, YoY 31% 

Adj. PAT came at Rs. 91.2 Cr vs QoQ Rs. 54.1 Cr, YoY Rs. 80.9 Cr 

Quarter EPS is Rs. 4.5 

Stock is trading at EV/EBITDA of 8.7x FY26 EBITDA

(Nirmal Bang Retail Research)

Result is in-line with expectations 

Revenue from Operations came at Rs. 950.7 Cr (-11.2% QoQ, 11.9% YoY) vs expectation of Rs. 992.6 Cr, QoQ Rs. 1071 Cr, YoY Rs. 849.7 Cr 

EBIDTA came at Rs. 169.9 Cr (5.8% QoQ, 22.4% YoY) vs expectation of Rs. 168.6 Cr, QoQ Rs. 160.6 Cr, YoY Rs. 138.8 Cr 

EBITDA Margin came at 17.9% vs expectation of 17%, QoQ 15%, YoY 16.3% 

Adj. PAT came at Rs. 148.2 Cr vs expectation of Rs. 142.9 Cr, QoQ Rs. 127.9 Cr, YoY Rs. 112 Cr 

Quarter EPS is Rs. 167.6 

Stock is trading at P/E of 72.7x FY25E EPS

(Nirmal Bang Retail Research)

Result is marginally above expectations due to decline in NPA 

NII came at Rs. 2286.5 Cr vs expectation of Rs. 2077 Cr, YoY Rs. 2027.4 Cr, QoQ Rs. 2146 Cr 

PBP came at Rs. 1904.1 Cr vs expectation of Rs. 1798.6 Cr, YoY Rs. 1751.5 Cr, QoQ Rs. 1884.6 Cr 

Provision came at Rs. 427.9 Cr vs expectation of Rs. 379.6 Cr, YoY Rs. 306.8 Cr, QoQ Rs. 435.8 Cr 

PAT came at Rs. 1090.8 Cr vs expectation of Rs. 1162.3 Cr, YoY Rs. 1180.3 Cr, QoQ Rs. 1162.9 Cr 

Reported PAT is lower due to higher tax rate at 26.1% in Q4 against steady state 19.7% in previous quarters 

Adj. PAT would be at Rs. 1185 Cr, in-line with expectation 

Loan book was at Rs. 2,86,844 Cr (+2.0% QoQ, +4.3% YoY) 

Individual Home Loan portfolio was up 7% YoY at Rs. 2,78,808 

Disbursement came at Rs. 18232 Cr (+14% YoY) 

Gross NPA (%) came at 3.3% vs QoQ 4.3% 

Net NPA (%) came at 1.6% vs QoQ 2.2% 

Quarter EPS is Rs. 19.8 

Stock is trading at P/E of 13.1x FY25E EPS & 1.1x trailing P/BV

The government has slashed windfall tax on domestically produced crude oil to ₹5,700 per tonne, from ₹8,400 per tonne, with effect from Thursday.

The tax is levied in the form of Special Additional Excise Duty (SAED).

The SAED on the export of diesel, petrol and jet fuel or ATF, has been retained at ‘nil’.

The new rates are effective from May 16, an official notification said.

Happiest Minds Technologies Ltd has announced its partnership with Solvio, a salesforce consulting firm.

Through the collaboration, Happiest Minds is focused on delivering salesforce implementations, transforming client engagements, and increasing operational efficiencies.

Joseph Anantharaju, Executive Vice Chairman, Happiest Minds, said, “We are excited by the potential to swiftly expand our salesforce business and enhance our capabilities.”

NCC stock surged over 7 per cent on the NSE on Thursday after the company’s Q4 financial results. 

The company reported its consolidated net profit for the quarter ended March 2024 at ₹238.74 crore as against ₹202.97 crore in the corresponding quarter last year. 

Brokerages have been bullish on the stock. Analysts of Centrum Institutional Research pointed out that the company delivered strong results yet again with revenue and PAT growth of 41 per cent and 42 per cent, respectively, for 3QFY24. “Higher execution in JJM projects and building and electrical division resulted in a substantial 13 per cent beat on our expectations,” they said.

Happiest Minds Technologies partnered with Solvio to offer next-gen Salesforce solutions globally, aiming to enhance client engagements and operational efficiencies. The shares were up by 1.23% to ₹819.75 on the BSE.

Rushil Decor Limited expanded into the South American market, targeting the global MDF demand. The company informed, with exports to 50 countries, the move follows a 9% growth in Q1 2024, contributing 28% to total revenue, amidst projections of a USD 29.9 billion global MDF market by 2027. The shares were up by 7.35% to ₹322.60 on the BSE.

Bank Nifty opened today’s session with a considerable gap-up at 47,946 versus yesterday’s close of 47,687. But after marking a high of 48,002 in early trade, the index quickly changed direction. It is now hovering around yesterday’s closing level. The chart shows clear signs of bearishness.

The Nifty 50 May futures contract can oscillate between 22,200 and 22,400. A breakout on either side of this range will give clarity on the next move

Prices of non-ferrous metals climbed on Thursday, backed by a softer dollar after U.S. inflation showed signs of slowing, making greenback-priced commodities cheaper for holders of other currencies.

Three-month copper on the London Metal Exchange (LME) was up 1.6% at $10,381.50 per metric ton, as of 0436 GMT, while the most-traded June copper contract on the Shanghai Futures Exchange (SHFE) advanced 1.1% to 82,520 yuan ($11,435.54) a ton.

The dollar skidded to multi-month lows after U.S. core inflation hit its slowest in three years, pulling forward expectations for rate cuts in the world’s biggest economy and drawing bets that the U.S. currency may have peaked, for now. - Reuters

Schaeffler India launched a digital campaign for LuK, its aftermarket brand for clutches and drivetrain components, it focuses on empowering commercial vehicle fleets, the campaign aims to provide repair solutions for next-gen fleet owners. The stock trades at ₹3949.40 up by 0.74% on the BSE.

State Bank of India (SBI) has increased interest rates on retail domestic term deposits (Below ₹2 crore) by 25-75 basis points on deposits of less than one year tenor. 

India’s largest bank also increased interest rates on domestic bulk term deposits (Rs. 2 crore and above) by 10-50 basis points on five out of eight maturity buckets. 

The new interest rates are effective from May 15, 2024. This deposit rate hike comes against the backdrop of credit growth outstripping deposit growth.

SecureKloud Technologies appointed Venkateswaran Krishnamurthy as Chief 

Revenue Officer. The shares were down by 1.16% to ₹39.93 on the BSE.

Major gainers on the NSE include - Bharti Airtel (1.97%), Infosys (1.90%), Adani ports (1.73%), Ltimindtree (1.71%), Tech Mahindra (1.71%)

Major losers include - Maruti Suzuki (-1.75%), Tata motors (-1.28%), Shriram finance (-1.11%), Cipla (-0.96%), Power grid corporation of India (-0.81%)

A total of 2,862 stocks were actively traded, 2,122 advanced, while 637 declined and 103 stocks remained unchanged where 91 stocks hit a 52 week high and 16 stocks hit a 52 week low on the BSE at 9.33 am

The Mines Ministry has opened an enquiry into the collapse of a lift at a mine owned by Hindustan Copper at Khetri (in Rajasthan). The accident led to one fatality and 14 others were seriously injury in the incident.

The Indian Bureau of Mines has also issued an advisory to owners and managers of all underground metalliferous mines for safety of mine workers.

Indian benchmark indices, Sensex and Nifty, started Thursday’s trading session on a positive note, following a global equities rally fueled by a softer-than-expected U.S. consumer inflation report, which increased expectations of at least two interest rate cuts in 2024. 

The BSE Sensex rose by 322.90 points to 73,309.93, while the NSE Nifty climbed 95.55 points to 22,296.10.

Wall Street indexes achieved record closing highs as U.S. consumer prices in April increased less than anticipated, indicating a potential decline in inflation.

Asian markets responded positively to the inflation data, leading to lower U.S. Treasury yields and a weaker dollar.

The performance of the U.S.-rate sensitive information technology sector will be closely monitored, as Indian IT companies derive a significant portion of their revenue from the United States. The sector closed down 0.02% on Wednesday, halting a two-day winning streak.

Crude oil futures traded higher on Thursday morning as the official data showed decline in crude oil inventories in the US. At 9.07 am on Thursday, July Brent oil futures were at $83.13, up by 0.46 per cent, and June crude oil futures on WTI (West Texas Intermediate) were at $79.07, up by 0.56 per cent. May crude oil futures were trading at ₹6595 on Multi Commodity Exchange (MCX) during the initial hour of trading on Thursday morning against the previous close of ₹6551, up by 0.67 per cent, and June futures were trading at ₹6571 against the previous close of ₹6535, up by 0.55 per cent.

Transport Corp: Net profit at Rs 103 cr vs Rs 26 cr (YoY), Revenue at Rs 1079 cr vs Rs 979 cr (YoY)

Honeywell Automation: Net profit at Rs 148 cr vs Rs 112 cr (YoY) , Revenue at Rs 951 cr vs Rs 850 cr. (YoY) 

Somany Ceramics: Net profit at Rs 34 cr vs Rs 24 cr (YoY) , Revenue at Rs 732 cr vs Rs 675 cr. (YoY) 

Titagarh Rail: Net profit up 64% at ₹79 cr vs ₹48.2 cr, Revenue up 8% at ₹1,052.4 cr vs ₹974.2 cr (YoY)

CMS: Net profit up 14.3% at ₹91.4 cr vs ₹80 cr, Revenue up 25.1% at ₹627 cr vs ₹501 cr (YoY)

Mankind: Net profit up 65.1% at ₹471.2 cr vs ₹285.4 cr, Revenue up 19% At ₹2,441.1 Cr Vs ₹2,052.7 Cr (YoY) 

Pricol: Net profit up 39.3% at ₹41.5 cr vs ₹29.8 cr, Revenue up 11.1% at ₹566.2 cr vs ₹509.7 cr (YoY) 

Medi Assist: Net Profit at Rs 25.8 cr Vs Rs 17.1 cr, Revenue at Rs 167 cr vs Rs 136 cr (YoY) 

M&M: Company says XUV 3XO registers over 50,000 bookings within 60 minutes 

Eicher Motors: Company’s unit VE Commercial Vehicles enters into joint venture agreement with I Triangle Info tech.

Oil upstream stocks: Windfall Tax on crude oil cut to ₹5,700/t from ₹8,400/t 

Aadhar Housing: Blue Diamond bought 23,00,000 Shares at Rs 315/ Share 

Infosys: SAPE marsys in pact for customer engagement platform

Arrow Green: Company announced grant of process for making medicated bands which allow application of more than one medication for delivery to the wound and bands made by them 

Quick Heal: Company partners with EET Group for cybersecurity solutions in Europe 

TVS Motor: Company introduces operations in Italy

Easy trip planners: company partners with google wallet to elevate travel experience 

Berger Paints: Net profit up 19.5% at ₹222.6 cr vs ₹185.7 cr, Revenue up 3.1% at ₹2,520.3 cr vs ₹2,443.6 cr (YoY)

NCC: Net profit at Rs 187 cr vs Rs 178 cr (YoY), Revenue at Rs. 5646 cr vs Rs 4016 cr. (YoY)

Kokuyo Camlin: Net profit at Rs 10 cr vs Rs 9 cr (YoY), Revenue at Rs.217 cr vs Rs 216 cr. (YoY)

Jindal Stainless: Net profit at Rs 501 cr vs Rs 716 cr (YoY) , Revenue at Rs 9454 cr vs Rs 9765 cr. (YoY) 

DLF: Company says guidance for fiscal ‘24-’25 is Rs. 17, 000 crores in sales 

Paradeep Phosphates: Net profit at Rs 21.5 cr vs Rs 10 cr, Revenue at Rs 2242 cr vs Rs 3644 cr. (YoY)

Redington: Net profit up 10% at ₹325.6 cr vs ₹310.1 cr, Revenue up 2.7% at ₹22,433.4 cr vs ₹21,848.6 cr (YoY) 

LIC Housing: Net profit down 7.6% at ₹1,090.8 cr vs ₹1,180 cr, NII up 12.4% at ₹2,237.6 cr vs ₹1,990.3 cr (YoY) 

MOIL: Net profit up 12.6% at ₹91.1 cr vs ₹81 cr, Revenue down 2.8% at ₹416 cr vs ₹428.1 cr (YoY)

Goa Carbon: Net profit up 77.4% at ₹9.4 cr vs ₹5.3 cr, Revenue down 43.5% at ₹178.5 cr vs ₹316 cr (YoY) 

Dixon Tech: Net profit at Rs 98.5 cr vs Rs 79 cr (YoY) , Revenue at Rs 4658 cr vs Rs 3065 cr. (YoY) 

*Signature:*Net profit at ₹41.0 cr vs ₹7.7 cr, Revenue at ₹694 cr vs ₹705 cr (YoY)

Star Cement: NCLT approves amalgamation of 3 units of Star Cement with arm Star Cement Meghalaya.

SBI: Company Hikes DEPOSIT Rates Deposit rates hiked by 0.25% - 0.75% 

JK Cement: Company’s board approves re-appointment of Raghavpat Singhania as MD for 5 years w.e.f. June 17, 2025. 

HDFC Life Insurance: Company declares all-time high bonus of ₹3,722 crore

Bajaj finance: Company allotted NCD’S worth up to 13.05B Rupees 

NLC India: Net profit down 86.2% at ₹114.2 cr vs ₹830 cr, Revenue down 31% at ₹3,540 cr vs ₹5,134 cr (YoY)

Visaka: Net profit at Rs 1.0 cr vs Rs 4.0 cr, Revenue at Rs 396 cr vs Rs 452 cr (YoY)

Silver prices increased, helped by a weaker dollar and lower Treasury yields, after data showed that US inflation was slowing, increasing predictions for a Fed interest rate decrease. The U.S. CPI increased 0.3% last month after rising 0.4% in March and February, indicating that inflation resumed its downward trend at the start of the second quarter, boosting financial market expectations for a September interest rate cut. Federal Reserve policymakers, who were waiting for renewed progress on inflation before lowering borrowing costs, received some encouraging evidence in the form of a government report indicating that inflation dropped slightly in April. Austan Goolsbee, president of the Chicago Federal Reserve Bank, expressed optimism that inflation will continue to fall.

Gold rose beyond $2,390 an ounce aided by a weaker dollar and lower Treasury yields following the latest US CPI data, which indicated a slowdown, raising prospects of a Federal Reserve interest rate decrease. Monthly inflation fell to 0.3%, slightly lower than expected, while 12-month headline inflation fell to 3.4% and core inflation to 3.6%, in line with expectations. Furthermore, retail sales were unchanged for the month, against market estimates of a 0.4% increase, indicating a slowdown in consumer demand. Investors are now pricing in a 75% chance of a Fed rate cut in September and 85% in November. 

Brookfield India Real Estate Trust (BIRET) has signed binding agreements to acquire a 50 per cent stake in four Grade A assets from Bharti Enterprises, the company said in a statement. 

The acquisition includes marquee commercial properties totalling 3.3 million square feet at an enterprise value of ₹6,000 crore. 

The total equity consideration for the 50 per cent stake will be fulfilled through a preferential allotment of units in BIRET to Bharti at ₹300 per unit. 

(Nirmal Bang Retail Research) 

Result has improved\ 

Revenue from Operations came at Rs. 413.3 Cr (13.1% QoQ, 13.9% YoY) vs QoQ Rs. 365.6 Cr, YoY Rs. 362.8 Cr 

EBIDTA came at Rs. 52.6 Cr (5.9% QoQ, 18.1% YoY) vs QoQ Rs. 49.7 Cr, YoY Rs. 44.6 Cr 

EBITDA Margin came at 12.7% vs QoQ 13.6%, YoY 12.3% 

Adj. PAT came at Rs. 13.2 Cr vs QoQ Rs. 11.9 Cr, YoY Rs. 11.3 Cr 

Quarter EPS is Rs. 2.1 

Stock is trading at P/E of 55.5x TTM EPS

(Nirmal Bang Retail Research)

Result is ok 

Revenue from Operations came at Rs. 526.5 Cr (7% QoQ, 22.2% YoY) vs QoQ Rs. 491.9 Cr, YoY Rs. 430.9 Cr 

EBIDTA came at Rs. 3.8 Cr (-163.4% QoQ, -635.2% YoY) vs QoQ Rs. -6 Cr, YoY Rs. -0.7 Cr 

EBITDA Margin came at 0.7% vs QoQ -1.2%, YoY -0.2% 

Adj. PAT came at Rs. -20.5 Cr vs QoQ Rs. -23 Cr, YoY Rs. -12.8 Cr 

Quarter EPS is Rs. -2 

Stock is trading at P/E of -69.7x TTM EPS

(Nirmal Bang Retail Research)

Result ok 

Revenue from Operations came at Rs. 2242.7 Cr (-13.6% QoQ, -38.5% YoY) vs QoQ Rs. 2595 Cr, YoY Rs. 3643.9 Cr 

EBIDTA came at Rs. 148.1 Cr (-47.6% QoQ, 63.4% YoY) vs QoQ Rs. 282.5 Cr, YoY Rs. 90.6 Cr 

EBITDA Margin came at 6.6% vs QoQ 10.9%, YoY 2.5% 

Adj. PAT came at Rs. 21.5 Cr vs QoQ Rs. 108.9 Cr, YoY Rs. 10 Cr 

Quarter EPS is Rs. 0.3 

Stock is trading at P/E of 7.3x FY26E EPS

(Nirmal Bang Retail Research)

Result is marginally below expectations

Revenue from Operations came at Rs. 660 Cr (-2.6% QoQ, 7% YoY) vs expectation of Rs. 675.1 Cr, QoQ Rs. 677.5 Cr, YoY Rs. 617 Cr

EBIDTA came at Rs. 108.4 Cr (-8.6% QoQ, 18.8% YoY) vs expectation of Rs. 113 Cr, QoQ Rs. 118.6 Cr, YoY Rs. 91.3 Cr

EBITDA Margin came at 16.4% vs expectation of 16.7%, QoQ 17.5%, YoY 14.8%

Adj. PAT came at Rs. 78.2 Cr vs expectation of Rs. 85.7 Cr, QoQ Rs. 90.9 Cr, YoY Rs. 59 Cr

Quarter EPS is Rs. 2.1

Stock is trading at P/E of 32.3x FY26E EPS

(Nirmal Bang Retail Research)

Result is in-line with expectations 

Revenue from Operations came at Rs. 227.5 Cr (16.8% QoQ, 4.9% YoY) vs expectation of Rs. 212.4 Cr, QoQ Rs. 194.7 Cr, YoY Rs. 216.9 Cr 

EBIDTA came at Rs. 94.5 Cr (9.1% QoQ, -10.1% YoY) vs expectation of Rs. 91.1 Cr, QoQ Rs. 86.6 Cr, YoY Rs. 105.1 Cr 

EBITDA Margin came at 41.5% vs expectation of 42.9%, QoQ 44.5%, YoY 48.5% 

Adj. PAT came at Rs. 70.3 Cr vs expectation of Rs. 67.3 Cr, QoQ Rs. 62.6 Cr, YoY Rs. 80.5 Cr 

Quarter EPS is Rs. 6.6 

Stock is trading at P/E of 31.7x FY26E EPS

(Nirmal Bang Retail Research) 

Result has improved 

Revenue from Operations came at Rs. 1105 Cr (5.9% QoQ, 3% YoY) vs QoQ Rs. 1043.6 Cr, YoY Rs. 1072.4 Cr 

EBIDTA came at Rs. 180.4 Cr (10.4% QoQ, 5.8% YoY) vs QoQ Rs. 163.4 Cr, YoY Rs. 170.5 Cr 

EBITDA Margin came at 16.3% vs QoQ 15.7%, YoY 15.9% 

Adj. PAT came at Rs. 73.9 Cr vs QoQ Rs. 63.4 Cr, YoY Rs. 68.9 Cr 

Quarter EPS is Rs. 3 

Stock is trading at P/E of 45.8x TTM EPS 

(Nirmal Bang Retail Research)

Result is below expectations 

Revenue from Operations came at Rs. 154.3 Cr (14.5% QoQ, 13.5% YoY) vs expectation of Rs. 149.8 Cr, QoQ Rs. 134.7 Cr, YoY Rs. 135.9 Cr 

EBIDTA came at Rs. 33.8 Cr (7% QoQ, 36.9% YoY) vs expectation of Rs. 38.4 Cr, QoQ Rs. 31.6 Cr, YoY Rs. 24.7 Cr 

EBITDA Margin came at 21.9% vs expectation of 25.7%, QoQ 23.4%, YoY 18.2% 

Adj. PAT came at Rs. 17.8 Cr vs expectation of Rs. 22.6 Cr, QoQ Rs. 15.4 Cr, YoY Rs. 12.6 Cr 

Quarter EPS is Rs. 3.4 

Stock is trading at P/E of 34.4x FY25E EPS

Vardhman Polytex Ltd.

Stock Split Rs.10/- to Rs.1/-

Previous day Closing Price – Rs. 105.64

Ex - Stock Split 17 May 2024 (Tomorrow)

Last day trade for before split Today

Titan Intech Ltd

Bonus issue 3:5

Previous day Closing Price – Rs. 103.72

Ex Bonus 17 May 2024 (Tomorrow)

Last date Trade for Before Bonus Today

Today

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 India.

* KIMS

* Motherson Sumi.

* Prince Pipes.

* Prism Johnson Ltd.

* Ratnamani Metals.

* Restaurant Brands.

* Solar Industries India.

* Triveni Turbine Ltd.

* V-Guard Industries.

17 May 2024

Derivative Segment

* Astral Ltd.

* Balkrishna Industries.

* Balrampur Chini Mills.

* Bandhan Bank Ltd.

* JSW Steel Ltd.

* Zee Entertainment.

* Zydus Lifesciences Ltd.

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 Ltd.

* 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 India.

* Data Patterns (India) Ltd.

* Gujarat Ambuja Exports.

* Trident Ltd.

* Ujjivan Small Finance Bank.

19 May 2024

Derivative Segment

Nil

Cash Segment

* Rainbow Children’s Medicare Ltd.

20 May 2024

Derivative Segment

* Bharat Electronics Ltd.

* City Union Bank Ltd.

* Deepak Nitrite Ltd.

* Oil & Natural Gas Corporation Ltd.

* Steel Authority Of India Ltd.

* The India Cements Ltd.

Cash Segment

* Indian Railway Finance Corporation Ltd.

* KRBL Ltd.

* Nesco Ltd.

* Oil India Ltd.

* Triveni Engineering & Industries Ltd.

* Whirlpool Of India Ltd.

21 May 2024

Derivative Segment

* Bharat Heavy Electricals Ltd.

* Metropolis Healthcare Ltd.

* NMDC Ltd.

* PI Industries Ltd.

Cash Segment

* Aether Industries Ltd.

* Eris Lifesciences Ltd.

* Galaxy Surfactants Ltd.

* Gujarat State Fertilizers & Chemicals Ltd.

* Hitachi Energy India Ltd.

* Ircon International Ltd.

* JK Tyre & Industries Ltd.

* Laxmi Organic Industries Ltd.

* NMDC Steel Ltd.

* Religare Enterprises Ltd.

* Sheela Foam 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.

* Minda Corporation Ltd.

* Star Cement Ltd.

* Sundram Fasteners Ltd.

* The New India Assurance Company Ltd.

23 May 2024

Derivative Segment

* ITC Ltd.

* Page Industries Ltd.

Cash Segment

* Bayer CropScience Ltd.

* Bikaji Foods International Ltd.

* Esab India Ltd.

* JK Lakshmi Cement Ltd.

* PCBL Ltd.

* Tata Investment Corporation Ltd.

* Vaibhav Global Ltd.

24 May 2024

Derivative Segment

* Ashok Leyland Ltd.

* Bosch Ltd.

* Glenmark Pharmaceuticals 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.

* PNC Infratech Ltd.

27 May 2024

Derivative Segment

* National Aluminium Company Ltd.

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.

* Indian Railway Catering And Tourism Corporation Ltd.

Cash Segment

* Amara Raja Energy & Mobility Ltd.

* Medplus Health Services Ltd.

* NBCC (India) 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.

Cash Segment

* Swan Energy Ltd.

Ex-Dividend 17 May 2024 (Tomorrow)

Last date for Cum-Dividend Today

Ador Fontech Ltd.

Dividend Per Share Rs.6

Previous day Closing Price – Rs. 151.3

Advanced Enzyme Technologies Ltd

Dividend Per Share Rs.4

Previous day Closing Price – Rs. 380.2

Craftsman Automation Ltd

Dividend Per Share Rs.11.25

Previous day Closing Price – Rs. 4368.05

Nicco Parks & Resorts Ltd.

Dividend Per Share Rs.0.5

Previous day Closing Price – Rs. 142.7

Kaynes Technology India: Company made investment in Essnkay Electronics; acquired 100% of shareholding in Essnkay Electronics LLC || Cost of acquisition is 12,000 units at USD 100 per unit.

* BALRAMCHIN

* BSOFT

* BIOCON

* GRANULES

* GMRINFRA

* LIC HOUSING

* HINDCOPPER

* INDIACEM

* PEL

* VODAFONE IDEA

* SAIL

* ZEEL

Buzzing Stocks: Honeywell Automation, TVS Motor, Persistent Systems, Eicher Motors, Quick Heal, M&M, Biocon, Concor, GAIL, HAL, CG Consumer, Vodafone Idea, Infibeam

The Good Glamm Group aims to go for an IPO around October next year. The company recently closed its Series E fund-raise round. Darpan Sanghvi, Group Founder & CEO of Good Glamm Group told businessline, that company is targeting to achieve a revenue of ₹1,500 crore before going for an IPO. The company, which has made many acquisitions in the past 3-4 years, has a portfolio of brands that include MyGlamm, the Moms Co, Sirona, Organic Harvest and St.Botanica. Theseo brands are supported by the company’s content, creators and community divisions.

​Aurionpro Sol: Ashish Rai, Vice Chairman​

Ended FY24 With Cash Of ?250-270 Cr And Raised ?277 Cr Via QIP: AurionPro Solutions

​Aadhar Housing Finance: Rishi Anand, MD & CEO​

Don’t See An Issue When It Comes To Growth: Aadhar Housing Finance

​Aadhar Housing Finance: Rishi Anand, MD & CEO​

Aadhar Housing: JV With Blackstone To Hold 75.8% Stake, Company’s Growth Plan To Compete In Market?

​Anand Milk Unio: Jayan Mehta, MD​

Amul Sees Growth Across Mkts & Increased Rural Penetration: Jayen Mehta

​Blue Star: B Thiagarajan, MD​

Blue Star News: How Is The Demand For AC, What’s The Plan To Recover The Losses In FY25?

​BLS International Services : Shikhar Aggarwal, Managing Director​

BLS E-Services:Govt Tie-Up In Que, Company’s Margins To Improve In FY25 With New Contracts?

​Chambal Fert: Abhay Baijal, MD​

Chambal Fertilizers Q4: Monsoon’s Impact On Fertilizer Industry, Positive Or Negative?

​DLF: Aakash Ohri, Jt MD & CBO​

Mumbai Project Launch Will Be Sometime In Q3-Q4 Of This Year: DLF Homes

​Mazagon Dock Ltd: Sanjiv Singhal, CMD​

Received An Order For 6 Vessels From A European Client: Mazagon Dock Shipbuilders

​Man Infra: Manan Parag Shah, ED MD​

Anticipate 1msf Of Launches With Revenue Potential Of ?4,000 Cr Going Forward: Man Infra

​Events today…​

​Results today…​

Turnover: (NSE + BSE)

Cash Volume: 100589.7 + 6317.51 Total: 106907.21

F&O Volume: 432801.2 + 300447.17 Total: 733248.37

Provisional Cash

FII/FPI: NET SELL: -2832.83 

(11412.04 - 14244.87) 

DII: NET BUY: +3788.38 

(12915.36 - 9126.98)

TRADE DONE ON DT.17.05.2024 AND 18.05.2024 ( Saturday Live Trading Session) PAY IN AND PAY OUT IS ON 21.05.2024 

Do not Sell Shares on 18.05.2024 which was Buy on 17.05.2024 

TRADE DONE ON DT.22.05.2024 AND 23.05.2024 PAY IN AND PAY OUT IS ON 24.05.2024

Do not Sell Shares on 23.05.2024 which was Buy on 22.05.2024 

Settlement Holiday on 20th May 2024 due to Parliamentary Elections 

Settlement Holiday on 23rd May 2024 due to Buddha Purnima Bank Holiday

Walmart Inc. (Pre market) (Sector - FMCG) 

Deere & Company (Pre market) (Sector – Capital Goods) 

JD. com, Inc. (Pre market) (Sector - Technology) 

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

NICE Ltd (Pre market) (Sector - Technology) 

Advanced Drainage Systems, Inc. (Pre market) (Sector - Realty) 

Applied Materials, Inc. (Post market) (sector - Technology) 

Copart, Inc. (Post market) (sector - Technology) 

Take-Two Interactive Software, Inc. (Post market) (sector - Technology) 

National Grid Transco, PLC (Tentative) (Sector - Power) 

Shinhan Financial Group Co Ltd (Tentative) (Sector - Financials)

18:00 U.S. Building Permits (Expected: 1.48M versus 1.46M)

18:00 U.S. Unemployment Claims (Expected: 219K versus 231K)

18:45 U.S. Industrial Production m/m (Expected: 0.20% versus 0.40%)

21:30 U.S. FOMC Member Mester Speaks

Prabhudas Lilladher

Target: ₹4,004

CMP: ₹3,777.05

We revise our FY25 EPS estimate down by 2.6 per cent factoring in execution of a lower than expected order book and downgrade the rating to ‘Accumulate’ from Buy with a revised TP of ₹4,004 (₹3,345 earlier) given the sharp run up in stock price. 

BEML reported mixed quarterly performance with a big miss on revenue (9.1 per cent y-o-y to ₹1,510 crore) and EBITDA margin expansion of 381bps y-o-y. Although FY24 order inflows were softer than expectations, the company has a significant opportunity pipeline in rail & metro worth ₹58,000 crore in FY25 and ₹32,000 crore in FY26 which can boost the order book. 

ICICI Securities

Target: ₹601

CMP: ₹540.85

The matchmaking services industry continues to be in a state of flux given muted revenue growth as user behaviour evolves rapidly. Matrimony continues to be the market leader in the space. However, litigation costs have impacted its ability to invest more in growing the space. 

The company has launched new initiatives such as: ‘MeraLuv’ – exclusive dating app for Indian-Americans and Elite Matrimony’ kiosks at airports across major cities. It is also planning to launch ‘Love.com’ by Q2-FY25, an app for people looking for serious relationships. However, according to the management, the upside from these initiatives is unlikely to manifest in the near term.

India will see upwards of $2.5 billion in passive FPI flows after a rejig of MSCI indices this month, with the country’s representation in the MSCI EM Index set to inch closer to 19 per cent from 18.3 per cent currently.

With 13 inclusions and 3 exclusions, the net stock count post-rejig will be 146 for India in the MSCI Standard/EM Index, according to Nuvama Alternative & Quantitative Research. Additionally, there will be a net inclusion of 14 stocks in the Smallcap Index, bringing India’s total stock count in the small-cap index to 497. The adjustments are slated for May 31

A number of sponsors and investment managers – especially those wanting to raise predominantly foreign capital – are considering taking the offshore route to invest into India instead of setting up alternative investment funds (AIFs) in the country amid regulatory uncertainty and higher costs. 

“Tighter regulations are impacting the operations of AIFs and has made managers circumspect about regulatory stability. Managers based in India and looking to raise significant offshore capital are now considering moving their base outside India to ensure that the adverse regulatory changes do not impact their funds,” said Siddharth Shah, Senior Partner, Khaitan & Co.

Here’s an interesting stock idea: The stock that we have today is Thomas Cook. The price has been on the rise so far this week. Given that the long-term trend is bullish, we expect the stock to gain further.

The stock of Thomas Cook (India) has been on a long-term uptrend. The latest leg of uptrend began a couple of months back on the support at ₹140. But since the final week of April, the stock was largely trading in a sideways band. This week, it has broken out of the resistance at ₹215, opening the door for further rally. Notably, it bounced off the 20-day moving average, indicating that the uptrend has resumed.

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