*🔹Business Standard:*


Ø  Importers to make prior disclosure to customs to avail concessional duty on goods: CBIC

Ø  Real estate developers expect recovery in H2 2021

Ø  Indian firms show deteriorating business performance in Q4 of FY21: Report

Ø  CESL to procure 300 electric vehicles from Tata Motors

Ø  HC asks FRL to respond to Amazon's plea to enforce emergency arbitrator's award

Ø  BlackSoil Capital exits 15 investments with 18% returns in FY21

Ø  Govt to sell nearly 2% SUUTI stake in Axis Bank, may get Rs 3,969 cr

Ø  Tata Motors reports surprise loss of Rs 7,605 cr in Q4; revenue up 42%

Ø  Walmart beats Street estimates for sales on stimulus spending boost

Ø  Oil hits $70 for first time since March 15 as Europe, US re-open economies

Ø  CCI approves sale of YES Bank's MF subsidiaries to GPL Finance

Ø  Canara Bank reports Q4 profit at Rs 1,011 crore on lower provisioning

Business Line

 

*Mint :*


Ø  Finance Ministry hopes pent-up demand to boost recovery this fiscal

Ø  AT&T to merge WarnerMedia and Discovery in $43-b deal

Ø  Gland Pharma Q4 net profit up 34% to ₹260 crore

Ø  Brigade Enterprises posts ₹19.58-cr Q4 profit

Ø  CCI approves APSEZ buying residual stake in Krishnapatnam Port

Ø  Torrent Pharma Q4 net up 3 per cent at ₹324 crore

Ø  Vijay Mallya loses bankruptcy petition amendment High Court battle in UK

Ø  Ujjivan Small Finance Bank Q4 net jumps 86% to ₹136 crore

Ø  Morgan Stanley sees Sensex at 61,000 by Dec, earnings to rise 37% in FY22

Ø  Infosys, Majesco collaborate to accelerate digital experience for insurers

Ø  China bans financial, payment institutions from cryptocurrency business

Financial Express

 

*Business World :*


Ø  Indian IT & Business Services market grows 5.41% to $13.4 bn in 2020: IDC

Ø  Moglix joins unicorn club with fresh $120-million fundraise

Ø  Adar Poonawalla Exits Panacea Biotec; Sells Entire Stake For Rs 118 Crore

Ø  Sensex, Nifty Spurt To 2-Month Highs On Decline In Fresh COVID-19 Cases

GM jsk stock in news guj alkalies,lnt,itc,ioc, jswenergy,hind copper,hind tin, ibullhsg,piind,tatamoto,gipcl,jslhissar,astral,ashokley. Negative stocks axisbk. Nifty range 14925-15225.

Money Market Update

The rupee ended at 73.04 against the U.S. Dollar on Tuesday as compared to Monday's closing of 73.21.

Who's Meeting Whom

Ambuja Cements: To meet ENAM AMC on May 19.

Craftsman Automation: To meet HSBC Global on May 20.

Trading Tweaks

Ex-Date Income Distribution: IRB InvIT Fund

Ex-Date Dividend: ABB Power Products and Systems India

Record Date Interim Dividend: Coforge, Caplin Point Laboratories, Sundram Fasteners

Record Date Amalgamation And Spin Off: Meghmani Organics

Price Band Revised From 20% To 10%: Ebixcash World Money India, Gateway Distriparks

Move Into Short-Term ASM Framework: Chambal Fertilizers & Chemicals, Ebixcash World Money India, Best Agrolife, Hester Biosciences

Move Out Of Short-Term ASM Framework: EID Parry India, Dish TV India, R Systems International, Indraprastha Medical Corporation

Pledge Share Details

Jindal Steel & Power: Promoters (OPJ Trading and Gagan Infraenergy) revoked pledge of 58 lakh shares between May 11-17. Promoter Opelina Sustainable created a pledge of 31 lakh shares between May 11-12.

Solara Active Pharma Sciences: Promoters (Pronomz Ventures LLP and Chayadeep Ventures LLP) revoked pledge of 23,80 lakh shares between April 7 and May 17.

Stocks To Watch

Axis Bank: Specified Undertaking of the Unit Trust of India to sell 1.95% of the bank's equity through an Offer for Sale. The initial plan is for the sale of 3.60 crore shares or 1.21% of the total equity with a greenshoe option to sell another 2.20 crore shares or 0.74% of the total equity. The floor price of Rs 680 per share is at a 4.48% discount to Tuesday's closing price. The OFS opens for non-retail investors today and for retail investors tomorrow.

JSW Energy: The wholly-owned subsidiary of the company, JSW Hydro Energy, has raised $707 million by allotment of dollar-denominated senior secured notes.

Infosys, Majesco: Announced strategic collaboration to help joint customers accelerate their digital transformation journey, enabling them to unlock new opportunities, address the demand for personalised customer experiences, operational effectiveness, and digital adoption across the insurance business value chain.

Canara Bank: Confident of Rs 15,000 crore recovery this year, said CEO Lingam Prabhakar during a conference call.

Kirloskar Oil Engines: Suspended operations at main Kagal Plant, Kagal Plant-II and KMW Kagal Plant-III in Kolhapur to comply with District Collector's covid order. The plants will remain shut between May 18-23.

World Markets

Dow - 267
Nasdaq - 75
Dax - 10
Nikkei - 270
Hangseng Closed
Sgxnifty - 62 (15089)
Brent Crude 68.19
Dow Fut - 45
Dollar Index 89.78

Hester Biosciences partners with Gujarat Government & OmniBRx for manufacturing COVID vaccine https://www.dsij.in/DSIJArticleDetail/ArtMID/10163/ArticleID/18345/Hester-Biosciences-partners-with-Gujarat-Government-OmniBRx-for-manufacturing-COVID-vaccine#.YKK0e3vwrfU.whatsapp

Kolte Patil zooms nearly 2 per cent on securing two new projects in Pune https://www.dsij.in/DSIJArticleDetail/ArtMID/10163/ArticleID/18350/Kolte-Patil-zooms-nearly-2-per-cent-on-securing-two-new-projects-in-Pune#.YKK0PTnWWv4.whatsapp

Aarti Ind
- Announces 1:1 Bonus for shareholders

- Also announces 3/sh Dividend (1.5 Ex-Bonus)

- Will also raise 1500 Cr via QIP and issue of Warrants!

Sources to CNBC Awaaz

*SUUTI likely to sell stake in Axis Bank*

*SUUTI likely to sell nearly 4 crores shares in Axis Bank*

*SUTTI likely to sell stake via OFS route, awaiting board approval*

SUUTI plans to sell stake in Axis Bank Worth Rs 2500-3000 crore

Bankers approach funds for interest in OFS

*Alert: SUUTI holds 3.45% stake in Axis Bank as of 31st March*

*Ester Industries Ltd.* | *CMP* Rs. 151 | *M Cap* Rs. 1259 Cr | *52 W H/L* 159/27
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 297 Cr (16.2% QoQ, 17% YoY) vs QoQ Rs. 255.7 Cr, YoY Rs. 253.9 Cr
EBIDTA came at Rs. 58.8 Cr (6.4% QoQ, 15.6% YoY) vs QoQ Rs. 55.2 Cr, YoY Rs. 50.8 Cr
EBITDA Margin came at 19.8% vs QoQ 21.6%, YoY 20%
Adj. PAT came at Rs. 33.9 Cr vs QoQ Rs. 32.9 Cr, YoY Rs. 36.9 Cr
Quarter EPS is Rs. 4.1
Share is trading at P/E of 8.9x TTM EPS

*Jindal Stainless (Hisar) Ltd.* | *CMP* Rs. 180 | *M Cap* Rs. 4247 Cr | *52 W H/L* 193/37
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 2758.5 Cr (-2.2% QoQ, 35.9% YoY) vs QoQ Rs. 2822 Cr, YoY Rs. 2030.3 Cr
EBIDTA came at Rs. 364.1 Cr (3.8% QoQ, 109.6% YoY) vs QoQ Rs. 350.7 Cr, YoY Rs. 173.7 Cr
EBITDA Margin came at 13.2% vs QoQ 12.4%, YoY 8.6%
Adj. PAT came at Rs. 209.5 Cr vs QoQ Rs. 182.1 Cr, YoY Rs. 99.2 Cr
Quarter EPS is Rs. 8.9
Share is trading at EV/EBITDA of 6.2x Trailing EBITDA

*PI Industries Ltd.* | *CMP* Rs. 2709 | *M Cap* Rs. 41101 Cr | *52 W H/L* 2734/1426
(Nirmal Bang Retail Research)
*Result below expectation*
Revenue from Operations came at Rs. 1197.1 Cr (3% QoQ, 40% YoY) vs expectation of Rs. 1120.7 Cr, QoQ Rs. 1162.1 Cr, YoY Rs. 855.2 Cr
EBIDTA came at Rs. 227.3 Cr (-17.5% QoQ, 22% YoY) vs expectation of Rs. 254.8 Cr, QoQ Rs. 275.5 Cr, YoY Rs. 186.3 Cr
EBITDA Margin came at 19% vs expectation of 22.7%, QoQ 23.7%, YoY 21.8%
Adj. PAT came at Rs. 179.8 Cr vs expectation of Rs. 188.8 Cr, QoQ Rs. 195.4 Cr, YoY Rs. 110.7 Cr
Quarter EPS is Rs. 11.9
Share is trading at P/E of 44.8x FY22E EPS

*Ujjivan Small Finance Bank Ltd.* | *CMP* Rs. 31 | *M Cap* Rs. 5289 Cr | *52 W H/L* 45/25
(Nirmal Bang Retail Research)
*Result continued to remain weak*
Net Interest Income came at Rs. 368.1 Cr vs YoY Rs. 466.6 Cr, QoQ Rs. 432.3 Cr
Non Interest Income came at Rs. 117.3 Cr vs YoY Rs. 72.2 Cr, QoQ Rs. 100.4 Cr
PBP came at Rs. 158.7 Cr vs YoY Rs. 190.6 Cr, QoQ Rs. 203.8 Cr
Provisions came at Rs. -25.2 Cr vs YoY Rs. 96.9 Cr, QoQ Rs. 583.5 Cr
Co is carrying Rs. 172 Cr of contingent provisions (1.2%)
Adj. PAT came at Rs. 136.5 Cr vs YoY Rs. 73.1 Cr, QoQ Rs. -278.8 Cr
Gross NPA came at Rs. 1070.6 Cr vs QoQ Rs. 658.7 Cr at 7.07% vs QoQ 4.83%
Net NPA came at Rs. 424.6 Cr vs QoQ Rs. 279.6 Cr at 2.93% vs QoQ 2.05%
PAR>0 book stood at 15.0% against QoQ 16.2% . Improvement seems weak considering economic activity was very strong in Q4FY21. With the second wave, Q1FY22 performance is likely to get impacted.
PAR 0-90 book constitutes 7.9%
Quarter EPS is Rs. 0.8
Share is trading at P/E 12.1x FY22E EPS and trailing P/Adj BV of 2.1x

*Gujarat Alkalies & Chemicals Ltd.* | *CMP* Rs. 433 | *M Cap* Rs. 3180 Cr | *52 W H/L* 469/302
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 671.4 Cr (3.3% QoQ, 8% YoY) vs QoQ Rs. 650.2 Cr, YoY Rs. 621.6 Cr
EBIDTA came at Rs. 96.5 Cr (22.7% QoQ, 20.8% YoY) vs QoQ Rs. 78.6 Cr, YoY Rs. 79.9 Cr
EBITDA Margin came at 14.4% vs QoQ 12.1%, YoY 12.8%
Adj. PAT came at Rs. 34.7 Cr vs QoQ Rs. 33.2 Cr, YoY Rs. 11.4 Cr
Lower PAT growth as compared to EBITDA QoQ is on account of lower other Income.
Quarter EPS is Rs. 4.7
Share is trading at P/E of 19.2x TTM EPS

*Glaxosmithkline Pharmaceuticals Ltd.* | *CMP* Rs. 1516 | *M Cap* Rs. 25677 Cr | *52 W H/L* 1808/1190
(Nirmal Bang Retail Research)
*Result is in-line with expectations*
Revenue from Operations came at Rs. 813.8 Cr (-5.1% QoQ, 4.9% YoY) vs expectation of Rs. 818.1 Cr, QoQ Rs. 857.2 Cr, YoY Rs. 775.8 Cr
EBIDTA came at Rs. 170.9 Cr (-16.8% QoQ, -1.5% YoY) vs expectation of Rs. 172.9 Cr, QoQ Rs. 205.5 Cr, YoY Rs. 173.6 Cr
EBITDA Margin came at 21% vs expectation of 21.1%, QoQ 24%, YoY 22.4%
Adj. PAT came at Rs. 133.3 Cr vs expectation of Rs. 126.4 Cr, QoQ Rs. 146 Cr, YoY Rs. 126.8 Cr
Quarter EPS is Rs. 7.9
Share is trading at P/E of 39.7x FY22E EPS

*Aarti Industries Ltd.* | *CMP* Rs. 1746 | *M Cap* Rs. 30421 Cr | *52 W H/L* 1815/850
(Nirmal Bang Retail Research)
*Result is marginally below expectations*

*Gross Margin remain Stable QoQ, higher other expenses led to decline in EBITDA margin*
Revenue from Operations came at Rs. 1209.4 Cr (1.9% QoQ, 12.4% YoY) vs expectation of Rs. 1247.8 Cr, QoQ Rs. 1186.8 Cr, YoY Rs. 1076.2 Cr
EBIDTA came at Rs. 260.3 Cr (-8.7% QoQ, 18.9% YoY) vs expectation of Rs. 296.5 Cr, QoQ Rs. 285 Cr, YoY Rs. 218.9 Cr
EBITDA Margin came at 21.5% vs expectation of 23.8%, QoQ 24%, YoY 20.3%
Adj. PAT came at Rs. 139.3 Cr vs expectation of Rs. 178.7 Cr, QoQ Rs. 165.3 Cr, YoY Rs. 110.4 Cr
Quarter EPS is Rs. 8
Share is trading at P/E of 43.4x FY22E EPS

Route Mobile Concall Update
*Outlook – Positive*
Management guides for a revenue growth of 20% organically in FY22. Volume growth would be 10-15%. Focus would be majority towards improving gross margin . Q4FY21 gross margin improved to 22% vs 18% QoQ owing passing on DLT charges to customers which had taken a hit last quarter. Gross margin of 22% is sustainable . With change in product mix management aspires to reach gross margin of 25%.
Share is trading at P/E of 54x FY22E EPS