Share Market Highlights March 17, 2024: Sensex gains 253 pts, Nifty closes above 22,450; M&M up over 5%

Rupee appreciated 17 paise to close at 83.33 (provisional) against the US dollar on Friday, on positive domestic markets and expectations of some fresh foreign inflows.

Reports of selling of US dollars by the Reserve Bank of India (RBI) also supported the rupee, forex traders said.

At the interbank foreign exchange market, the local unit opened at 83.50 and touched an intraday high of 83.32 and a low of 83.50.

The domestic unit finally settled at 83.33 (provisional), a rise of 17 paise from its previous close. (PTI)

Despite mixed global signals and uncertainties surrounding the US Fed, the Indian market experienced a robust recovery, largely fuelled by the outperformance of the broader market and positive Q4 earnings. Further, some index heavyweight earnings surpassed expectations, and mid-cap and small-cap stocks continued to exhibit buying interest during dips. Auto and consumer durables particularly stood out with strong earnings momentum

India’s equity benchmarks gained nearly 0.3% each on Friday. While the BSE Sensex gained 253.31 points, or 0.34%, to 73,917.03, the broader NSE Nifty advanced 62.25 points, or 0.28%, to 22,466.10, show provisional data on the exchanges. 

Within the Nifty pack, top gainers were M&M, Grasim, Ultratech Cement, JSW Steel, and BPCL, while Cipla, TCS, SBI Life, HCL Tech, and Britannia were the major laggards. Mahindra and Mahindra gained 5.83% to close at ₹2,410 as the company announced its plans to invest ₹26,000 crore in automotive business in the next three years.

Marine Electricals (India) has received an order amounting to $39,99,048 (approx ₹33 crore)(excluding taxes) from GE Energy Power Conversion UK Ltd (International Entity), for supply of electrical package. 

The delivery shall be over a period of 30 months. 

Marine Electricals stock traded in the upper circuit at ₹98.90 on the NSE, higher by 4.99%.

The board has recommended final dividend of ₹32 per equity share.

Top gainers on the NSE at 3 pm:

M&M (6.18%), JSW Steel (2.28%), Grasim (1.91%), Ultratech Cement (1.89%), Kotak Bank (1.59%)

Major losers:

TCS (-1.70%), Cipla (-1.51%), SBI Life (-1.27%), Hindustan Unilever (-1.11%), Britannia (-1.06%)

Stocks advanced on BSE at 3 pm on May 17, 2024, were 2,352 against 1,416 stocks that declined; 152 stocks remain unchanged. Total stocks traded were 3,920. The number of stocks that recorded a 52-week high was 214, and those that hit a 52-week low was 26. 

In addition, 335 stocks traded in upper circuit, while 166 hit the lower circuit.

Welspun Corp informed that Ahmedabad Bench of NCLT has sanctioned the scheme of amalgamation of Mahatva Plastic Products And Building Materials Private Limited with Sintex-BAPL Limited 

Both are unlisted companies and wholly owned subsidiaries of Welspun Corp.

Welspun Corp stock trades at ₹607 on the NSE, up 0.84%.

Concord Biotech announced that Saudi Food and Drug Authority has completed inspection at the company’s manufacturing Unit II, (formulation facility), located at Valthera, Gujarat. 

Concord Biotech stock trades at ₹1,432.30 on the NSE, lower by 1.78%.

GPT Infraprojects stock trades in the upper circuit at ₹245.15 on the NSE, higher by 4.99%. 

The company’s board has approved bonus issue of equity shares in the proportion of one share of ₹10 each for one share of ₹10 each. 

It has approved amendment to the capital clause of the Memorandum of Association of the Company increasing the authorised share capital from ₹60 Crore to ₹130 Crore.

The company reported its consolidated net profit for the quarter ended March 2024 at ₹16.18 crore as against ₹10.40 crore in the corresponding quarter last year.

Dilip Buildocn received an arbitral of ₹29.07 Crore (including interest up to the date of award) from arbitration proceedings related to an EPC Project awarded to the Company under NHDP-IV by National Highways Authority of India( NHAI) vide EPC Agreement dated August 27, 2015 (for construction of rehabilitation and up-gradation of Allahabad to UP/MP Border section of NH-27 from Km. 4.285 to Km. 45.627 to four lanes with paved shoulders in the state of Uttar Pradesh).

DBL stock declines 1.20% trading at ₹440.70 on the ​NSE​.

Prakash Industries has reported a net profit of ₹88.77 crore for the quarter ended March 2024 as against ₹57.96 crore in the corresponding quarter last year.

Stock surges 6.05% on the NSE, trading at ₹172.55.

Ajooni Biotech Limited signed an MOU with Unati AgriAllied & Marketing Multi-state Cooperative Society Limited (UAMMCL) for forward and backward integration of pure veg cattle feed business in terms of raw material supply, warehousing and storage, consumer connect, Research and Development in its operational area.

Ajooni Biotech stock rises 2.33% on the NSE, trading at ₹6.60.

Go Fashion (India) has entered into a franchise agreement with Apparel Group for franchise rights for ‘Go Colors’ brand in UAE and Saudi Arabia for 5 years until May 14, 2029.

Go Fashion stock inches up 0.95% on the NSE, trading at ₹1,020.

Landmark Cars is widening its offerings in West Bengal with Kia India by acquiring an existing Kia dealer in Kolkata. The Company has received an LOA to operate one showroom and two workshops in Kolkata. This dealership will be established in one of the wholly owned subsidiaries of Landmark Cars, Landmark Premium Cars Private Limited.

Landmark Cars stock inches up 0.57% on the NSE at ₹737.85.

Vedanta stock rose 2.11% on the NSE, trading at ₹442.20 after board approved fund raising of ₹8,500 crore and investment in Vedanta Copper International VCI Company for setting up of Continuous Cast Copper Rod Plant – in Kingdom of Saudi Arabia (KSA).

Reserve Bank of India has accorded its approval for the appointment of J Natarajan as the Whole Time Director (Executive Director) of Karur Vysya Bank for a period of one year from the date of taking charge.

KVB stock trades at ₹199.20 on the NSE, up 1.04%.

TVS Motor Company has launched ‘A Blaze of Black’ Dark Edition variant of the TVS Apache 160 series motorcycles, namely the TVS Apache RTR 160 and RTR 160 4V. 

TVS Motor Company stock rises 2.02% on the NSE, trading at ₹2,170.90.

Major gainers on the NSE at 12 noon:

M&M (6.41%), JSW Steel (2.43%), Grasim (2.20%), Ultratech Cement (1.77%), Kotak Bank (1.17%)

Major losers:

Cipla (-1.22%), Bajaj Auto (-0.96%), Nestle India (-0.82%), Britannia (-0.74%), SBI Life Insurance (-0.72%)

Stocks advanced on BSE at 12 noon on May 17, 2024, were 2,388 against 1,227 stocks that declined; 160 stocks remain unchanged. Total stocks traded were 3,775. The number of stocks that recorded a 52-week high was 173, and those that hit a 52-week low was 22. 

In addition, 255 stocks traded in upper circuit, while 137 hit the lower circuit.

ISMT (19.98%), Indian Hume Pipe (16.79%), Crompton (15.61%), MOIL (13.83%)

Craftsman Automation Ltd, a parts maker for the automotive and industrial sectors, is proposing a capex of about ₹500 crore in FY25. The bulk of the investments is likely to be spent on completing two of its greenfield factories in Rajasthan and Tamil Nadu.

The Coimbatore-headquartered company is in a significant capex phase to capitalize on long-term growth prospects. In the previous fiscal year, it invested about ₹580 crore in capex.

Prabhudas Lilladher, in its latest India Strategy Report – Mandate 2024, Brace of Volatility, stated that irrespective of the regime that comes at the centre, sectors such as FMCG, Auto, Healthcare, IT Services, Private Banks and Capital Goods are expected to perform well and cited as prudent defensive hedge against election results.

PL expects continuation of policy if NDA comes back to power and themes around Infra, Defence, CG, New energy, Tourism etc, will continue to do well. Consumer, 2W and Tractors can get a boost from green shoots in rural demand and expectations of normal monsoons.

Go Digit General Insurance IPO has been subscribed 1.10 times as of 11.27 am on May 17, 2024. The QIB portion has been subscribed 0.45 times, NII 1.15 times, and retail 2.98 times. The issue closes today.

The board of Baid Finserv to consider and approve raising of funds by issuance of fully paid-up equity shares through rights issue.

Stock trades at ₹21.55 on the NSE, down by 0.69%.

Veerhealth Care has received an export order valued at US$ 197,793 (approximately ₹165 Lakh) from an institutional supplier in the US.

Veerhealth Care stock declines 0.79% on the BSE, trading at ₹21.05.

Please note ,BSE and NSE to Conduct Special Live Trading Session on Saturday, 18th May, 2024 from 9.15 hrs to test a disaster recovery site 

This special live trading will be conducted in two trading sessions as follows:-

Trading Session 1 Time 

Pre-Open open time 09:00 hrs

Pre-Open close time 09:08 hrs

Normal Market open time 09:15 hrs

Normal Market close time 10:00 hrs

Trading Session 2 Time 

Normal Market open time 11:30 hrs

Normal Market close time 12:30 hrs

Plz Note that purchase of Friday cannot be sold on Saturday’s session

Major gainers on the BSE at 11 am:

Crompton Greaves (15.68%), Kiri Industries (15.67%), Kaynes (12.57%), Kirloskar Ferrous (11.02%), Endurance Tech (9.68%)

Major losers:

Sanghvi Movers (-6.42%), Eclerx Services (-5.16%), Honeywell (-4%), Great Eastern Shipping (-3.68%), Kirloskar Brothers (-3.51%)

L&T’s buildings and factories business bags multiple orders worth ₹1,000-2,500 crore. 

Stock trades at ₹3,432.95 on the NSE. down by 0.80%.

Glenmark Pharmaceuticals Ltd. has received final approval from USFDA for Brimonidine Tartrate and Timolol Maleate Ophthalmic Solution, 0.2%|0.5%. 

Stock inches up 0.77% on the NSE, trading at ₹1,013.

Bank Nifty began today’s session on the backfoot as it opened lower at 47,843 versus yesterday’s close of 47,977. But the index recovered and is now hovering around yesterday’s closing level.

The advance/decline ratio stands at 9/3 and this gives a positive bias. State Bank of India, up nearly 1 per cent, is the top gainer whereas Axis Bank, down 0.6 per cent, is the top loser.

Nifty 50 is trading flat. The index witnessed a strong bounce from the low of 22,054 on Thursday. This indicates the presence of strong buyers at lower levels. The index is currently trading at 22,399, marginally down by 0.03 per cent. The advances/decline ratio is at 21:29. This is slightly inclined towards bearishness.

Crude oil futures traded higher on Friday morning as official data showed recovery in manufacturing activities in China.

Param Desai, Research Analyst, Prabhudas Lilladher Pvt. Ltd.

Indoco Remedies

We cut our FY25/FY26 EPS by ~18% to factor in low margins and lower sales across key markets. Our numbers do factor in margin recovery with reduction in remediation cost from FY25. Indoco Remedies’ (INDR) Q4FY24 EBITDA was sharply below our estimates led by muted domestic formulation and EU sales and continued higher remediation and promotional expenses. The recent OAI to its Goa unit-2 is negative and will restrict growth in US sales in FY25. We expect 30% PAT CAGR over FY24-26E given low base. At CMP, stock is trading at 17.6x FY26E EPS. We maintain our Accumulate with revised TP of Rs335 valuing at 18x FY26E EPS, as we roll forward. Timely resolution of Goa facility unit-2 is a key for re-rating.

NSE Nifty was down by 0.18 per cent or 39.65 points to 22,364, while the BSE Sensex was at 72,085 down by 0.80 per cent or 578 points.

BEML Limited has bagged order from Northern Coal Fields Limited for dump trucks contract worth ₹250 Crore. 

Stock rises 3.36% on the NSE at ₹3,824.20.

Nifty auto trades higher by 1.87% at 23,300.20 as of 9.33 am.

Top gainers: 

M&M, Apollo Tyre, Tata Motors, Samvardhana Motherson International

Major gainers on the NSE at 9.30 am:

M&M (6.12%), ONGC (1.76%), Grasim Industries (1.39%), Tata Motors (1.39%), Tata Steel (1.05%)

Major losers:

SBI Life Insurance (-1.11%), Adani Ports (-1.09%), Sun Pharma (-0.99%), Axis Bank (-0.96%), Nestle India (-0.89%)

V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

“There are some positive global and domestic cues which augur well for the market. The decline in US inflation in April to 3.4% YoY and retail sales cooling off indicate a soft landing of the US economy, paving the way for rate cuts by the Fed. This favourable global construct can impart resilience to the mother market thereby providing stability to other markets. Domestically, the improvement in the voter turnout in the 4th phase of polling is positive from the market perspective since it removes some jitters associated with election results. Coming to the market trends, the net institutional buying turning positive, the sharp recovery of nearly 350 points from the lows in Nifty and the large short position in the market have the potential to aid recovery in the market. Going forward, news from the political front is likely to turn more positive.

FII-heavy stocks which bore the brunt of selling are likely to witness further recovery.”

Infosys has received reassessment notice from British Columbia, Ministry of Finance, Canada, pertaining to alleged delayed filing of Employee Health Tax return for the years 2019 to 2022, imposing penalty of 13,39,778.90 CAD.

Zydus Lifesciences Ltd., a global innovation driven healthcare company announced that its wholly owned subsidiary, Zydus Lifesciences Global FZE has entered into an exclusive licensing and supply agreement with MSN Laboratories for Cabozantinib Tablets (a generic version of CABOMETYX®) for the US market

The Indian benchmark indices, Sensex and Nifty, opened flat on Friday. Market participation is expected to remain low due to the upcoming long weekend holidays and the market closure on Monday for local polling related to the general election. The 30-share BSE Sensex fell 80.24 points to 73,583.48 in early trade. The NSE Nifty dropped 19.10 points to 22,384.75. 

Foreign portfolio investors continue their selling spree in Indian markets. According to analysts, they also piled up short positions on index futures.

Vikram Kasat, Head - Advisory, Prabhudas Lilladher, said that the FIIs’ long-short ratio is 0.38. Notably, FIIs hold 3.96 lakh contracts short in futures, marking the biggest short position in Index futures, both in value and contracts, even after accounting for the reduction in Nifty and Bank Nifty lot sizes.

“Overall, the market is showing positive momentum with bulls coming back. Now, key supports need to be defended to give a new upside trajectory,” he added.

Meanwhile, the Dow Jones Industrial Average hit the 40,000 mark on Thursday for the first time. The Dow Jones Industrial Average hit an intra-day high of 40,000 for the first time but closed 38.62 points, or 0.10 per cent, lower to 39,869.38; the S&P 500 slipped 11.05 points, or 0.21 per cent, to 5,297.10 and the Nasdaq 44.07 points, or 0.26 per cent, to 16,698.32.

Most Asian stocks are ruling down in early deals on Friday.

Ajit Mishra – SVP, Research, Religare Broking Ltd, said: The participation of major players in the banking and IT sectors, coupled with cues from the US markets, is expected to be crucial going forward. Traders are advised to adjust their strategies accordingly, with focus on stock selection.

Shrikant Chouhan, Head of Equity Research at Kotak Securities, said: The short-term market texture is weak, but we could see a one technical pullback rally from the current levels due to temporary oversold conditions. For the traders now, 22000/72550 would be a key level to watch out for. Over 22000/72550, the market could bounce back till 22100-22150/72300-72500. On the flip side, below 22000/72550, the weak sentiment is likely to continue below, and the market could slip till 21850-21800/72100-72000.

Newtime Infrastructure Limited

Bonus issue 2:1

Previous day Closing Price – Rs. 49.29

Ex Bonus 21 May 2024 (Tuesday)

Last date Trade for Before Bonus Today

Route – Tender 

Buyback Price: 2,800/- 

Current Market Price: 2,403.20/-

Market Cap: Rs 11,782 Crores 

Buyback Size: Rs 385 Crs (Representing 24.98% and 18.38% of the total paid up equity share capital and free reserves) 

Buyback Size: 13,75,000 shares (Representing 2.80% of O/s. shares) 

Retail Quota: 2,06,250 Shares 

Buyback Record Date: Not Yet Announce

Crude oil futures traded higher on Friday morning as official data showed recovery in manufacturing activities in China. At 9.11 am on Friday, July Brent oil futures were at $83.49, up by 0.26 per cent, and June crude oil futures on WTI (West Texas Intermediate) were at $79.31, up by 0.10 per cent. May crude oil futures were trading at ₹6616 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday morning against the previous close of ₹6615, up by 0.02 per cent, and June futures were trading at ₹6596 against the previous close of ₹6591, up by 0.08 per cent.

Buy Call, Target Rs 81 

Growth Momentum On Track 

Rising EV Adoption To Sustain Healthy Growth Momentum 

Capex Guidance For FY25 Is Rs 200 Cr 

Operating Leverage Should Drive Gradual EBITDA Margin Improvement 

Margin To Improve From 12.2% In FY24 To 12.8%/13.3% By FY25/26

Buy Call, Target Rs 4,750

Earnings Beat Led By Strong Margin 

Q4 Adj EBITDA Margin Strong At 32.8%, Up 676 bps YoY 

Order Backlog At Rs 94,000 Cr, Translating To 3.3xTTM Sales 

Expect Rev, EBITDA, &PAT To Register Respective CAGRs Of 14%, 11%, 23% Over FY23-26

Outperform Call, Target Raised To Rs 370 

Q4 Earnings Ahead Of Est With Better ECD Margin On Strong Growth & Price Hikes 

Revenue Grew 12% YoY With ECD +14% YoY While Lighting Was Flat 

High A&P Spend & Extended Producer Responsibility Costs Weighed On Margin 

Butterfly Gandhimathi reported weak earnings, 

Current Earnings Are Also Boosted By A Strong Summer Season 

Effectiveness Of Ongoing Initiatives Translating To Market Share Gains Would Be Key

Underperform Call, Target Rs 150 

Q4 EBITDA 6% Ahead Of Est Driven By Higher Profitability In Gas Transmission & Petchem 

Gas Trading was below Estimate 

PAT Missed Est By 15% On Higher Depreciation & Lower Other Income 

Transmission Vol Outlook, Trading Profitability & Capex Guidance Key To Watch For

Equal-weight Call, Target Rs 1,076

Q4 Earnings Miss, PAT Below Est By 14% 

Exim & domestic margin were down 135 bps YoY & Up 5 bps YoY, respectively 

Land License Fees Were Rs 83.1 Cr (-20% YoY) For Q4 & Rs 370 Cr (-6% YoY) For FY24

MS on M&M

Overweight Call, Target Raised To Rs 2,665 

Strong Q4, Expect Co To Remain The Fastest Growing PV OEM In FY25 

Re-Rating Potential For Auto Business 

See Improving Farm Business Sentiments At The Margin 

Optionality Of Growth Gems Value Unlock Keep Us Overweight 

Jefferies on M&M

Upgrades To Buy From Hold, Target Raised To Rs 2,910 

Believe Tractor Industry Is In Late Downturn 

SUV Portfolio Continues To Strengthen 

Plans To Launch 13 New SUVs By 2030 

Core FY25 P/E Is Still 20% Below Blended Peer Average 

Jagsonpal Pharma: Co says signed business transfer agreement for purchase of India, Bhutan business of Yash Pharma.

Jagsonpal Pharma: Deal for 924.7M rupees; acquisition is a gateway to dermatology and childcare segments || Co had cash balance of 1.35B rupees as on December 31, 2023.

MCap: Rs55bn; CMP: Rs452; TP: Rs465

Industry:

1. From 2020 onwards, most of the mechanical clusters were switched to digital clusters.

2. Pricol’s exports are at 8% due to weak demand conditions in foreign geographies, especially US and UK and now aim is to reach exports at 10% of revenue by FY26.

Operations:

1. Revenue growth is lower than expected as there is a delay in the start of production from their 4 customers in the 2W and CV segment. Now these models have been launched and revenue catchup has started happening from April’24.

2. FY24 Revenue: 69% DIS and 31% ACFMS. Going ahead ACFMS will increase to 35% in FY25 as and when adoption and sales in disc brakes increases.

3. Aiming to increase share to 10% of the revenues contributed by the PV segment. PV contributed 6.8% in FY24. 2W, PV, CV and OHV contributed 52%, 6.8%, 25% 16% of the revenues.

4. Capacity utilization was 85% and therefore the capacity is being expanded at Pune, Coimbatore and one more plant.

5. New customers added - Honda motorcycles and scooters – will go into production in 18-24months from now.

6. Pricol is engaged with 18 EV customers now and Pricol’s products are propulsion agnostic.

7. Productivity and process improvements have led to high margins and Pricol aims to reach 13.5% on a sustainable basis. In FY24, legal expenses were high which led to low margins for the full year.

8. There is no loss of share in the 2W DIS market. Infact, Pricol has gained share in the 2W market.

Expansion and inorganic:

1. Disc brake: Started production and ramping up LOI. Disc brakes selling at Rs1100/ unit. Currently Pricol is selling to 7 customers (Rs70-100mn per month right now) and targets to achieve a revenue of Rs3bn in 3years.

2. E-cockpit: Developed prototype and showcased to several OEM. Connected vehicle solution in partnership with Sibros – showcased product to domestic and international customers. In FY25, there should be an update on connected vehicle products.

3. New product revenue is hovering between 20-25% and Pricol will try to maintain it.

Financials and Guidance:

1. Long Borrowings are nil as of Mar’24.

2. Revised guidance on Revenue: Rs32bn by organic means and Rs4bn by inorganic in FY26.

3. Margins expected to largely sustain at current levels and management will strive to further improve this going ahead as per guidance.

4. Long-term provision is related to the employee benefits.

5. FY25 Capex: Rs2-2.2bn – a part of Rs6bn capex across 3years and this will be spent mainly on DIS. Asset turnover: 4-4.5x

6. Exploring inorganic assets at due diligence stage and the company will update on this in next quarter.

(Nirmal Bang Retail Research)

Result below Expectation

Revenue from Operations came at Rs. 2520.9 Cr (-12.5% QoQ, 3.2% YoY) vs expectation of Rs. 2582.3 Cr, QoQ Rs. 2881.8 Cr, YoY Rs. 2443.6 Cr

EBIDTA came at Rs. 350.9 Cr (-26.9% QoQ, -4.8% YoY) vs expectation of Rs. 399.5 Cr, QoQ Rs. 480 Cr, YoY Rs. 368.8 Cr

EBITDA Margin came at 13.9% vs expectation of 15.5%, QoQ 16.7%, YoY 15.1%

Adj. PAT came at Rs. 222.1 Cr vs expectation of Rs. 231.3 Cr, QoQ Rs. 299.7 Cr, YoY Rs. 185.7 Cr

Quarter EPS is Rs. 1.9

Stock is trading at P/E of 44.1x FY25E EPS

Buzzing Stocks: PB INfotech, Kesoram Ind, Reliance Industries, Infy, Chemplast Sanmar, ITI, Vedanta, BLS E- Services, IDFC First Bank, eClerx, Endurance Tech, Bandhan Bank, ZEE, Delhivery, Hariom Pipe, NHPC, Zydus LIfe

As we approach the weekend, domestic markets are anticipated to open flat on Friday. It’s worth noting that market participation is expected to remain low, primarily due to the long weekend holidays. This is because the market will be closed on Monday for local polling related to the general election, a factor that could influence trading volumes.

Gift Nifty at 22,480 signals a flat-to-positive opening as Nifty futures on Thursday closed at 22,452. Foreign portfolio investors continue their selling spree in Indian markets. According to analysts, they also piled up short positions on index futures.

Can set alert for them at www.researchbytes.com 

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07:30 CHINA Industrial Production y/y (Expected: 5.40% versus 4.50%)

07:30 CHINA Retail Sales y/y (Expected: 3.90% versus 3.10%)

14:30 EURO Final CPI y/y (Expected: 2.40% versus 2.40%)

19:45 U.S. FOMC Member Waller Speaks

Economic Calendar – 20.05.2024

India @ Market Holiday

01.00 U.S. Fed Chair Powell Speaks

06.45 CHINA 5-y Loan Prime Rate (Expected: 3.95% versus 3.95%)

18:15 U.S. FOMC Member Bostic Speaks

The NSE Nifty rose by 1%, gaining 220.90 points to reach 22,421, while the BSE Sensex climbed 1.01%, or 738 points, to 73,728.

A total of 3,945 stocks were actively traded, with 2,083 advancing, 1,726 declining, and 140 remaining unchanged. Additionally, 193 stocks hit a 52-week high and 30 stocks hit a 52-week low on the BSE at 3:25 pm.

Top gainers on the NSE included Mahindra and Mahindra (3.50%), Tata Consumers (2.93%), Tech Mahindra (2.75%), Bharti Airtel (2.75%), and LTI Mindtree (2.49%).

Top losers were Maruti Suzuki (-2.13%), Dr. Reddy’s Laboratories (-0.99%), Tata Motors (-0.96%), State Bank of India (-0.91%), and Bharat Petroleum Corporation (-0.82%).

Turnover: (NSE + BSE)

Cash Volume:* 117014.24 + 7213.25 Total: 124227.49

F&O Volume:* 557450.53 +1577011.38 Total: 2134461.91

Provisional Cash

FII/FPI: NET SELL: -776.49 

(16603.64 - 17380.13) 

DII: NET BUY: +2127.81 

(14907.72 - 12779.91)

Mahindra & Mahindra Ltd.: Net Revenue at Rs. 35451.7 crore, +9.2% YoY, and+0.7% QoQ. EBITDA at Rs. 6603.9 crore, +16.7% YoY and +7.5% QoQ. EBITDA Margin at 18.6%, +120 bps YoY and +119 bps QoQ. Net Profit at Rs. 3124.9 crore, +4.2% YoY and +5% QoQ.

Hindustan Aeronautics Ltd.: Net Revenue at Rs. 14768.8 crore, +18.2% YoY, and+143.7% QoQ. EBITDA at Rs. 5901.3 crore, +81.8% YoY and +311.1% QoQ. EBITDA Margin at 40%, +1398 bps YoY and +1628 bps QoQ. Net Profit at Rs. 4308.7 crore, +52.2% YoY and +241.5% QoQ. Ashika

GAIL (India) Ltd.: Net Revenue at Rs. 32833.2 crore, -1.3% YoY, and-5.6% QoQ. EBITDA at Rs. 3848.6 crore, +592.5% YoY and -8.5% QoQ. EBITDA Margin at 11.7%, +1005 bps YoY and -38 bps QoQ. Net Profit at Rs. 2474.3 crore, +285% YoY and -22.5% QoQ.

Solar Industries India Ltd.: Net Revenue at Rs. 1610.7 crore, -16.5% YoY, and+12.7% QoQ. EBITDA at Rs. 353.7 crore, -1.1% YoY and -0.7% QoQ. EBITDA Margin at 22%, +342 bps YoY and -297 bps QoQ. Net Profit at Rs. 242.7 crore, +10% YoY and +9.4% QoQ. Ashika

Info Edge (India) Ltd.: Net Revenue at Rs. 657.4 crore, +8.7% YoY, and+4.8% QoQ. EBITDA at Rs. 219.4 crore, +18.3% YoY and +8.3% QoQ. EBITDA Margin at 33.4%, +270 bps YoY and +106 bps QoQ. Net Profit at Rs. 88.0 crore, Rs. -503.2 crore YoY and -26.4% QoQ.

Biocon Ltd.: Net Revenue at Rs. 3917.1 crore, +3.8% YoY, and-0.9% QoQ. EBITDA at Rs. 842.2 crore, -15.6% YoY and -9.1% QoQ. EBITDA Margin at 21.5%, -493 bps YoY and -194 bps QoQ. Net Profit at Rs. 222.9 crore, -46.2% YoY and -70.4% QoQ.

Motherson Sumi Wiring India Ltd.: Net Revenue at Rs. 2232.7 crore, +19.3% YoY, and+5.4% QoQ. EBITDA at Rs. 291.3 crore, +34.4% YoY and +11.2% QoQ. EBITDA Margin at 13%, +147 bps YoY and +67 bps QoQ. Net Profit at Rs. 191.4 crore, +38.3% YoY and +14% QoQ. Ashika

Crompton Greaves Consumer Electricals Ltd.: Net Revenue at Rs. 1961.0 crore, +9.5% YoY, and+15.9% QoQ. EBITDA at Rs. 203.6 crore, -3.7% YoY and +35.9% QoQ. EBITDA Margin at 10.4%, -142 bps YoY and +153 bps QoQ. Net Profit at Rs. 133.4 crore, +1.4% YoY and +56.1% QoQ.

V-Guard Industries Ltd.: Net Revenue at Rs. 1342.8 crore, +17.9% YoY, and+15.2% QoQ. EBITDA at Rs. 127.9 crore, +31.5% YoY and +25.8% QoQ. EBITDA Margin at 9.5%, +99 bps YoY and +80 bps QoQ. Net Profit at Rs. 76.2 crore, +44.5% YoY and +30.8% QoQ.

Akzo Nobel India Ltd.: Net Revenue at Rs. 973.4 crore, +2.3% YoY, and-5.7% QoQ. EBITDA at Rs. 161.7 crore, +4.5% YoY and -2.8% QoQ. EBITDA Margin at 16.6%, +35 bps YoY and +50 bps QoQ. Net Profit at Rs. 108.7 crore, +13.9% YoY and -4.5% QoQ.

Infibeam Avenues Ltd.: Net Revenue at Rs. 726.9 crore, +11.4% YoY, and-20.3% QoQ. EBITDA at Rs. 66.1 crore, +33.4% YoY and -2.1% QoQ. EBITDA Margin at 9.1%, +150 bps YoY and +169 bps QoQ. Net Profit at Rs. 49.2 crore, +28.1% YoY and +20.7% QoQ. Ashika

Caplin Point Laboratories Ltd.: Net Revenue at Rs. 453.2 crore, +16.4% YoY, and+4.1% QoQ. EBITDA at Rs. 145.2 crore, +17.2% YoY and +2.1% QoQ. EBITDA Margin at 32%, +21 bps YoY and -63 bps QoQ. Net Profit at Rs. 121.2 crore, +19.7% YoY and +1.2% QoQ.

Prism Johnson Ltd.: Net Revenue at Rs. 2079.2 crore, -1.5% YoY, and+20.3% QoQ. EBITDA at Rs. 111.3 crore, -24.4% YoY and -16.7% QoQ. EBITDA Margin at 5.4%, -162 bps YoY and -238 bps QoQ. Net Profit at Rs. -30.5 crore, Rs. 4.3 crore YoY, Rs. -11.5 crore QoQ. Ashika

Texmaco Rail & Engineering Ltd.: Net Revenue at Rs. 1144.6 crore, +37% YoY, and+27.7% QoQ. EBITDA at Rs. 83.6 crore, +51.3% YoY and +1.4% QoQ. EBITDA Margin at 7.3%, +69 bps YoY and -189 bps QoQ. Net Profit at Rs. 45.3 crore, +147.6% YoY and +48.7% QoQ.

Wonderla Holidays Ltd.: Net Revenue at Rs. 99.7 crore, +1.1% YoY, and-19.3% QoQ. EBITDA at Rs. 35.4 crore, -16.3% YoY and -35% QoQ. EBITDA Margin at 35.5%, -739 bps YoY and -855 bps QoQ. Net Profit at Rs. 22.6 crore, -35.5% YoY and -39.5% QoQ.

Sanghvi Movers Ltd.: Net Revenue at Rs. 165.4 crore, +30.4% YoY, and-1% QoQ. EBITDA at Rs. 92.1 crore, +20.2% YoY and -19.8% QoQ. EBITDA Margin at 55.7%, -473 bps YoY and -1306 bps QoQ. Net Profit at Rs. 47.7 crore, +40.7% YoY and -22.1% QoQ. Ashika

Harsha Engineers International Ltd.: Net Revenue at Rs. 380.4 crore, +10.7% YoY, and+17.2% QoQ. EBITDA at Rs. 54.5 crore, +7.4% YoY and +37.2% QoQ. EBITDA Margin at 14.3%, -44 bps YoY and +209 bps QoQ. Net Profit at Rs. 36.8 crore, +12.8% YoY and +23.9% QoQ.

Indoco Remedies Ltd.: Net Revenue at Rs. 449.6 crore, +5% YoY, and-2.1% QoQ. EBITDA at Rs. 48.9 crore, -24.5% YoY and -22.3% QoQ. EBITDA Margin at 10.9%, -426 bps YoY and -282 bps QoQ. Net Profit at Rs. 22.0 crore, -14.6% YoY and +41.6% QoQ. Ashika

TCNS Clothing Co. Ltd.: Net Revenue at Rs. 211.3 crore, -21.3% YoY, and-24.1% QoQ. EBITDA at Rs. -37.7 crore, Rs. 8.5 crore YoY, Rs. -9.8 crore QoQ. Net Profit at Rs. -63.6 crore, Rs. -28.1 crore YoY, Rs. -51.6 crore QoQ.

Mahindra & Mahindra, Container Corporation, Biocon, Jk Paper, Prince Pipes, Endurance Technologies, Vodafone Idea, Crompton Greaves, Gail, Hindustan Aeronautics, Indian Hume Pipe, Infibeam Avenues and Info Edge

Mahindra & Mahindra 4QFY24 Earnings

Financial Results

Presentation

Container Corporation Of India 4QFY24 Earnings

Financial Results

Biocon 4QFY24 Earnings

Financial Results

Press Release

Jk Paper 4QFY24 Earnings

Financial Results

Press Release

Prince Pipes And Fittings 4QFY24 Earnings

Financial Results

Presentation

Endurance Technologies 4QFY24 Earnings

Financial Results

Presentation

Vodafone Idea 4QFY24 Earnings

Financial Results

Press Release

Crompton Greaves Consumer Electricals 4QFY24 Earnings

Financial Results

Presentation

Gail (India) 4QFY24 Earnings

Financial Results

Press Release

Hindustan Aeronautics 4QFY24 Earnings

Financial Results

Indian Hume Pipe 4QFY24 Earnings

Financial Results

Press Release

Infibeam Avenues 4QFY24 Earnings

Financial Results

Presentation

Info Edge (India) 4QFY24 Earnings

Financial Results

Presentation

Here’s an interesting stock idea: The stock idea that we have for you today is FDC. The recent bounce in the share price is happening from a strong trendline as well as the 100-Day moving average support. The trend is up and the share price can rise further in the coming days.

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

The short-term outlook for FDC Ltd is bullish. The bounce from the low of ₹428.55 has happened from around a strong trendline as well as the 100-Day Moving Average support. This keeps the broader uptrend intact. The strong 4.1 per cent rally on Thursday indicates that the upmove has gained momentum.

Asian stocks opened lower on Friday, following a decline in Wall Street shares after recent strong gains.

The benchmark Nikkei 225 index fell 0.70%, or 270.63 points, to 38,649.63 in early trade, while the broader Topix index dropped 0.39%, or 10.80 points, to 2,726.74.

South Korea’s KOSPI decreased by 0.37%, or 10.18 points, to 2,742.82. Australia’s S&P/ASX 200 index declined 0.39%, or 30.50 points, to 7,850.80.

Earlier, U.S. stocks closed lower on Thursday after the Dow reached an intra-day high of 40,000 for the first time. Investors recalibrated their rate-cut expectations following data showing a slowdown in inflation and strong corporate earnings results. Early gains in equities dissipated throughout the day, with the three major indexes closing slightly lower.

The Dow Jones Industrial Average fell 38.62 points, or 0.10%, to 39,869.38. The S&P 500 lost 11.05 points, or 0.21%, to 5,297.10, and the Nasdaq Composite decreased by 44.07 points, or 0.26%, to 16,698.32.