VID-20240505-WA0009.mp4
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Opening Bell:
Nifty: 22,500.65(+0.10%)
Sensex: 74,047.30(+0.25%)
Banknifty: 49,011.70 (+0.19%)
Top Gainer: Rainbow, 1,590 (+8.61%)
Top Loser: PFC, 440 (-8.24%)
Nifty: 22,500.65(+0.10%)
Sensex: 74,047.30(+0.25%)
Banknifty: 49,011.70 (+0.19%)
Top Gainer: Rainbow, 1,590 (+8.61%)
Top Loser: PFC, 440 (-8.24%)
Stocks to watch-
Kotak Mahindra Bank: The bank's PAT for FY24 increased by 26% YoY to 13,782 crore. The PAT for Q4FY24 was 4,133 crore, an 18% YoY increase. The bank's NII for FY24 increased by 21% YoY to ₹25,993 crore. The NIM for Q4FY24 was 5.28%. The bank's board recommended a 2 per share dividend.
Avenue Supermarts: The company, which runs large format retail stores DMart, reported a 22% YoY increase in their net profits for Q4FY24, with the PAT rising to ₹563.1 crore. The company's revenue from operations grew by 20% to 12,726 crore.
Mahindra Finance: The company's total income for Q4FY24 was ₹3,706 crores, a 21% YoY increase. However, its PAT decreased by 10% YoY to ₹619 crores, while its NII increased by 14%, to ₹1,971 crores. The company's NIM was stable at 7.1%. Disbursements rose by 11% to ₹15,292 crores, and the Gross Loan Book grew by 24% YoY to 1,02,597 crores. The company also improved its asset quality, reducing Stage 3 assets to 3.4% from 4.0% in December 2023. Credit costs were within the targeted range of 1.5% 1.7%.
Britannia Industries: The company reported a consolidated net profit of ₹536.61 crore for the March quarter, a decline of 3.76% from the same quarter of the previous financial year. The total revenue of the company stood at ₹4,069.36 crore, rising 1.14% from the year-ago quarter.
IDBI Bank: The bank reported a 43.7% YoY increase in net profit for Q4FY24, at 1,628.5 crore. The bank's NII rose by 12.4% to ₹3,687.9 crore. The bank's board recommended a dividend of ₹1.50 per equity share for FY24.
Adani Enterprises: The company has expressed interest in developing the port of Bataan in the Philippines. The company plans to construct a 25- meter deep port designed to accommodate Panamax vessels. Separately, the Adani Group's Mundra petrochemical project is set to receive a loan of ₹17,000 crore from a consortium led by the State Bank of India (SBI), covering 60-70% of its capital expenditure requirement. The loan will aid in the financial closure of the project, which had halted last year due to allegations of financial fraud. The project, requiring a total capex of ₹25,000-27,000 crore, resumed operations in July last year.
Titan Company: The firm reported a Q4 standalone net profit of ₹786 crore, up 7% YoY. The company's revenue rose 17% to ₹10,047 crore. EBITDA for the quarter was at ₹1,109 crore, growing by 6.2%. The board recommended a dividend of 11 per equity share.
JSW Infrastructure: The company plans to invest over 2,500 crore in fiscal year 2025 to expand its cargo handling capacity. The company anticipates a 50% increase in capacity to 258 million tonne with an investment of ₹14,000 crore by 2027.
Kotak Mahindra Bank: The bank's PAT for FY24 increased by 26% YoY to 13,782 crore. The PAT for Q4FY24 was 4,133 crore, an 18% YoY increase. The bank's NII for FY24 increased by 21% YoY to ₹25,993 crore. The NIM for Q4FY24 was 5.28%. The bank's board recommended a 2 per share dividend.
Avenue Supermarts: The company, which runs large format retail stores DMart, reported a 22% YoY increase in their net profits for Q4FY24, with the PAT rising to ₹563.1 crore. The company's revenue from operations grew by 20% to 12,726 crore.
Mahindra Finance: The company's total income for Q4FY24 was ₹3,706 crores, a 21% YoY increase. However, its PAT decreased by 10% YoY to ₹619 crores, while its NII increased by 14%, to ₹1,971 crores. The company's NIM was stable at 7.1%. Disbursements rose by 11% to ₹15,292 crores, and the Gross Loan Book grew by 24% YoY to 1,02,597 crores. The company also improved its asset quality, reducing Stage 3 assets to 3.4% from 4.0% in December 2023. Credit costs were within the targeted range of 1.5% 1.7%.
Britannia Industries: The company reported a consolidated net profit of ₹536.61 crore for the March quarter, a decline of 3.76% from the same quarter of the previous financial year. The total revenue of the company stood at ₹4,069.36 crore, rising 1.14% from the year-ago quarter.
IDBI Bank: The bank reported a 43.7% YoY increase in net profit for Q4FY24, at 1,628.5 crore. The bank's NII rose by 12.4% to ₹3,687.9 crore. The bank's board recommended a dividend of ₹1.50 per equity share for FY24.
Adani Enterprises: The company has expressed interest in developing the port of Bataan in the Philippines. The company plans to construct a 25- meter deep port designed to accommodate Panamax vessels. Separately, the Adani Group's Mundra petrochemical project is set to receive a loan of ₹17,000 crore from a consortium led by the State Bank of India (SBI), covering 60-70% of its capital expenditure requirement. The loan will aid in the financial closure of the project, which had halted last year due to allegations of financial fraud. The project, requiring a total capex of ₹25,000-27,000 crore, resumed operations in July last year.
Titan Company: The firm reported a Q4 standalone net profit of ₹786 crore, up 7% YoY. The company's revenue rose 17% to ₹10,047 crore. EBITDA for the quarter was at ₹1,109 crore, growing by 6.2%. The board recommended a dividend of 11 per equity share.
JSW Infrastructure: The company plans to invest over 2,500 crore in fiscal year 2025 to expand its cargo handling capacity. The company anticipates a 50% increase in capacity to 258 million tonne with an investment of ₹14,000 crore by 2027.
Market Update:
Nifty: 22,467.85 (-8.35 points)
Sensex: 73,972.20 (+94.25 points)
European Markets:
FTSE: 8,213.63(+0.51%)
CAC: 7,966.02 (+0.11%)
DAX: 18,031.65(+0.16%)
Nifty: 22,467.85 (-8.35 points)
Sensex: 73,972.20 (+94.25 points)
European Markets:
FTSE: 8,213.63(+0.51%)
CAC: 7,966.02 (+0.11%)
DAX: 18,031.65(+0.16%)
NEWSPAPER 🗞️
*News Headlines from Business News Agencies:*
*Business Standard*
📝 Investors pull $9.9 billion from hedge funds in March: NASDAQ eVestment
📝 Wipro, Microsoft team up for AI virtual assistants for financial services
📝 Marico Q4FY24 results: Net profit up 5% at Rs 318 cr, revenue rises 1.7%
📝 Elections will not have impact on CV sales: Ashok Leyland MD & CEO
📝 Quadria Capital acquires minority stake in NephroPlus for $102 million
📝 India's airlines to have 50% mkt share of int'l passengers by FY28: CRISIL
📝 FirstCry's parent company Brainbees Solutions re-files documents for IPO
📝 India and Ghana agree to operationalise UPI link within six months
📝 Indian Bank Q4 results: Net profit jumps 55% to Rs 2,247 crore, NII up 9%
📝 Petrobras loads diesel from RIL on crude tanker in India after delay
📝 Investments through P-note surge to near 6-yr high at Rs 1.5 trillion
📝 Coromandel expands agtech footprint, increases shareholding in Ecozen
*Economic Times*
📝 Railways clocks 1.46% higher freight loading in April 2024
📝 Marico eyes foods portfolio to be 2x of current scale in FY27
📝 Zee Media Corporation terminates CEO Abhay Ojha
📝 SBI invested Rs 714 crore in TCG’s Gurugram project
📝 CBAM, permanent establishment rules, transfer pricing key in India’s outbound FDI: EY
📝 We expect strong momentum to continue in business: Warren Harris, Tata Tech
📝 VST Zetor launches new range of tractors
📝 Sterlite Power names Reshu Madan as CEO of global products, services business
📝 RITES to undertake safety assessment of Vande Bharat trains
📝 Growing online enrolments, rising tuition fee to drive revenue for education sector: Ind-Ra
📝 CarTrade Tech Q4 PAT grows 43% YoY, recorded highest revenue
📝 Hero Realty bags Indian Green Building Council's Gold Rating for green project
*Mint*
📝 KKR wins bidding war to acquire medical devices firm Healthium
📝 India Bank Q4 Result: NII up 9.2% at ₹6,015 crore
📝 Gujarat Gas appoints Rajesh Sivadasan as CFO of the company
📝 India’s services sector is still booming, but signs of weakness are visible
📝 Jack Dorsey leaves Bluesky board, calls X ‘Freedom Technology’
📝 PwC India unveils a suite of GenAI-enabled products for CFOs
📝 Singtel-owned Optus names broadband network boss Stephen Rue as new CEO
📝 Lupin gets US FDA approval for Travoprost Ophthalmic Solution USP
📝 CG Power Q4 PAT down 45%, EBITDA margin stood at 13%
📝 KuCoin Introduces Lifeform in Its 27th Spotlight IEO, Pioneering Decentralized
📝 Bajaj Healthcare appoints Dayashankar Patel as CFO of the company
*News Headlines from Business News Agencies:*
*Business Standard*
📝 Investors pull $9.9 billion from hedge funds in March: NASDAQ eVestment
📝 Wipro, Microsoft team up for AI virtual assistants for financial services
📝 Marico Q4FY24 results: Net profit up 5% at Rs 318 cr, revenue rises 1.7%
📝 Elections will not have impact on CV sales: Ashok Leyland MD & CEO
📝 Quadria Capital acquires minority stake in NephroPlus for $102 million
📝 India's airlines to have 50% mkt share of int'l passengers by FY28: CRISIL
📝 FirstCry's parent company Brainbees Solutions re-files documents for IPO
📝 India and Ghana agree to operationalise UPI link within six months
📝 Indian Bank Q4 results: Net profit jumps 55% to Rs 2,247 crore, NII up 9%
📝 Petrobras loads diesel from RIL on crude tanker in India after delay
📝 Investments through P-note surge to near 6-yr high at Rs 1.5 trillion
📝 Coromandel expands agtech footprint, increases shareholding in Ecozen
*Economic Times*
📝 Railways clocks 1.46% higher freight loading in April 2024
📝 Marico eyes foods portfolio to be 2x of current scale in FY27
📝 Zee Media Corporation terminates CEO Abhay Ojha
📝 SBI invested Rs 714 crore in TCG’s Gurugram project
📝 CBAM, permanent establishment rules, transfer pricing key in India’s outbound FDI: EY
📝 We expect strong momentum to continue in business: Warren Harris, Tata Tech
📝 VST Zetor launches new range of tractors
📝 Sterlite Power names Reshu Madan as CEO of global products, services business
📝 RITES to undertake safety assessment of Vande Bharat trains
📝 Growing online enrolments, rising tuition fee to drive revenue for education sector: Ind-Ra
📝 CarTrade Tech Q4 PAT grows 43% YoY, recorded highest revenue
📝 Hero Realty bags Indian Green Building Council's Gold Rating for green project
*Mint*
📝 KKR wins bidding war to acquire medical devices firm Healthium
📝 India Bank Q4 Result: NII up 9.2% at ₹6,015 crore
📝 Gujarat Gas appoints Rajesh Sivadasan as CFO of the company
📝 India’s services sector is still booming, but signs of weakness are visible
📝 Jack Dorsey leaves Bluesky board, calls X ‘Freedom Technology’
📝 PwC India unveils a suite of GenAI-enabled products for CFOs
📝 Singtel-owned Optus names broadband network boss Stephen Rue as new CEO
📝 Lupin gets US FDA approval for Travoprost Ophthalmic Solution USP
📝 CG Power Q4 PAT down 45%, EBITDA margin stood at 13%
📝 KuCoin Introduces Lifeform in Its 27th Spotlight IEO, Pioneering Decentralized
📝 Bajaj Healthcare appoints Dayashankar Patel as CFO of the company
Nifty Option Chain Analysis- 9MAY2024
CMP: 22290 (1:40PM)
📌 A breach below the Technical Support of 22350 induced further pressure, pushing Nifty all the way down towards the levels of 22240. OI skewed towards CALLs.
📌 The OI data is –Vely skewed, reflecting the current weakness:
• Total OI : CALL @ 58Lk (+11.9Lk) Vs PUTs @ 32Lk (+3.1Lk); PCR @ 0.55 Vs 0.60 in the morning ~ 10:30AM.
• In Active-Strikes near ATM (marked in Grey), the OI additions are also highly skewed towards CALLS @ +9Lk Vs only 0.6Lk PUTs
📌 Money-flow Activity since Morning: Significant +Ve M2M differential seen for CALL Writers.
📌 Intraday Sup: 22200; Res: 22380
📌 Current numbers are negative; However, the possibility of a reversal from lower levels of ~22200 is not ruled out.
Initiated:
Buy NIFTY 9MAY2024 22500PE @ 170; Status: TGT2 @ 240 Done
We are vigilant of any further Trading opportunity on either side.
CMP: 22290 (1:40PM)
📌 A breach below the Technical Support of 22350 induced further pressure, pushing Nifty all the way down towards the levels of 22240. OI skewed towards CALLs.
📌 The OI data is –Vely skewed, reflecting the current weakness:
• Total OI : CALL @ 58Lk (+11.9Lk) Vs PUTs @ 32Lk (+3.1Lk); PCR @ 0.55 Vs 0.60 in the morning ~ 10:30AM.
• In Active-Strikes near ATM (marked in Grey), the OI additions are also highly skewed towards CALLS @ +9Lk Vs only 0.6Lk PUTs
📌 Money-flow Activity since Morning: Significant +Ve M2M differential seen for CALL Writers.
📌 Intraday Sup: 22200; Res: 22380
📌 Current numbers are negative; However, the possibility of a reversal from lower levels of ~22200 is not ruled out.
Initiated:
Buy NIFTY 9MAY2024 22500PE @ 170; Status: TGT2 @ 240 Done
We are vigilant of any further Trading opportunity on either side.
Market Update:
Nifty: 22,310.30 (-132.35 points)
Sensex: 73,539.20 (-355.25 points)
European Markets:
FTSE: 8,289.10 (+0.98%)
CAC: 8,011.02 (+0.17%)
DAX: 18,238.65(+0.35%)
Nifty: 22,310.30 (-132.35 points)
Sensex: 73,539.20 (-355.25 points)
European Markets:
FTSE: 8,289.10 (+0.98%)
CAC: 8,011.02 (+0.17%)
DAX: 18,238.65(+0.35%)
STOCKS KA GYAN 💬
🔸India's apex planning and advisory body for the power sector has eased a key condition for #power equipment supplies for public sector projects, a move that is expected to let utilities to issue tenders allowing larger private vendor participation.
🔸India's construction equipment industry witnessed a 26% rise in sales to 1,35,650 units in the 2023-24 fiscal on the back of the government's infrastructure-led growth agenda.
🔸 #Persistent Systems announced the launch of “iAURA”, a suite of AI-powered data solutions engineered to catalyze business growth. iAURA empowers businesses with seamless deployment and precision in addressing data challenges for AI implementations.
🔸 #Infosys informed the stock exchange that the company and ServiceNow are strengthening their collaboration to utilize generative AI for enhancing customer experiences.
🔸 #Infosys informed the stock exchange that it has been certified with ISO 42001:2023 Certification for Artificial Intelligence Management System, by TUV India (part of TÜV Nord Group).
🔸 #TataElxsi informed the stock exchange that it has collaborated with Arm, the global semiconductor design and software platform company to offer advanced solutions on the latest Arm processors, which will help Automotive OEMs and Tier-1s fast track their transition to software-defined vehicles (SDVs).
🔸India's apex planning and advisory body for the power sector has eased a key condition for #power equipment supplies for public sector projects, a move that is expected to let utilities to issue tenders allowing larger private vendor participation.
🔸India's construction equipment industry witnessed a 26% rise in sales to 1,35,650 units in the 2023-24 fiscal on the back of the government's infrastructure-led growth agenda.
🔸 #Persistent Systems announced the launch of “iAURA”, a suite of AI-powered data solutions engineered to catalyze business growth. iAURA empowers businesses with seamless deployment and precision in addressing data challenges for AI implementations.
🔸 #Infosys informed the stock exchange that the company and ServiceNow are strengthening their collaboration to utilize generative AI for enhancing customer experiences.
🔸 #Infosys informed the stock exchange that it has been certified with ISO 42001:2023 Certification for Artificial Intelligence Management System, by TUV India (part of TÜV Nord Group).
🔸 #TataElxsi informed the stock exchange that it has collaborated with Arm, the global semiconductor design and software platform company to offer advanced solutions on the latest Arm processors, which will help Automotive OEMs and Tier-1s fast track their transition to software-defined vehicles (SDVs).
Stocks to watch-
Dr Reddy's Laboratories: The pharmaceutical company reported a net profit of ₹1,307 crore for Q4FY24, a 36% year-on-year increase, primarily driven by strong performance in the US market. The company's revenue increased to ₹7,083 crore during the quarter, a 12% year-on-year growth. For the full year FY24, DRL reported a net profit of 5,568.4 crore, a 36% increase, and total revenues of ₹27,920 crore, up 14% on year. The company expects FY25 to allow a double-digit growth with a 25% Ebitda. The company's global generics segment saw a 13% revenue increase to ₹6,120 crore, mainly due to higher base business volumes and new product launches.
PB Fintech: The parent company of Policybazaar reported a net profit of ₹60.19 crore for Q4FY24, a significant improvement from a loss of ₹9.34 crore in the same period last year. The company's consolidated revenue for the quarter was 1,089.57 crore, a 25.36% increase from the previous year. The total insurance premium for the quarter was 5,127 crore, contributing to an Annual Recurring Revenue (ARR) of ₹20,000 crore in insurance premiums. This growth was mainly due to the expansion in the new health and life insurance segments. The company's cash position improved by ₹259 crore year-on-year, reaching ₹5,263 crore, thanks to a 39% year-on-year growth in core online revenue, which amounted to ₹2,375 crore. Adjusted EBITDA rose to ₹324 crore from 107 crore, improving the margin from 6% to 14%.
Larsen & Toubro: L&T is anticipated to deliver strong Q4FY24 results, driven by enhanced construction activity, robust demand, and a solid order book. The company's net profit for the fiscal fourth quarter is projected to increase by 9.8% YoY to ₹4,380 crore. Revenue is expected to surge by 18.6% YoY to ₹65,402 crore, and EBITDA is likely to rise by 31% YoY to ₹7,553.9 crore. The results will be announced on May 8.
JSW Energy: The company reported a 29% increase in its consolidated net profit to ₹351 crore in the March quarter, primarily due to higher revenues. The company's total revenue for the quarter increased by 3% year-on-year to ₹2,879 crore. The board recommended a dividend of ₹2 per equity share of ₹10 (20%) and approved the raising of funds not exceeding ₹10,000 crore in one or more tranches.
Jaiprakash Associates: JAL has failed to meet its loan repayment obligations on April 30, amounting to ₹4,616 crore. The company's financial commitments are undergoing restructuring, and out of its total debt of ₹29,805 crore, JAL plans to transfer 18,955 crore to a Special Purpose Vehicle (SPV).
Voltas: The company reported a 22.8% YoY drop in net profit at 110.6 crore for Q4FY24. The company's revenue from operations jumped 42.1% to ₹4,202.9 crore. EBITDA fell 12.6% to ₹190.6 crore in the fourth quarter of this fiscal.
Pidilite Industries: The company reported a 6.4% YoY increase in net profit at ₹304.3 crore for the fourth quarter that ended March 31, 2024. The company's revenue from operations increased 7.9% to ₹2,901.9 crore. EBITDA jumped 25.6% to 576.9 crore in the fourth quarter of this fiscal. The board of directors have recommended a dividend of 16 per equity share of 1 each for the financial year ended March 31, 2024.
Dr Reddy's Laboratories: The pharmaceutical company reported a net profit of ₹1,307 crore for Q4FY24, a 36% year-on-year increase, primarily driven by strong performance in the US market. The company's revenue increased to ₹7,083 crore during the quarter, a 12% year-on-year growth. For the full year FY24, DRL reported a net profit of 5,568.4 crore, a 36% increase, and total revenues of ₹27,920 crore, up 14% on year. The company expects FY25 to allow a double-digit growth with a 25% Ebitda. The company's global generics segment saw a 13% revenue increase to ₹6,120 crore, mainly due to higher base business volumes and new product launches.
PB Fintech: The parent company of Policybazaar reported a net profit of ₹60.19 crore for Q4FY24, a significant improvement from a loss of ₹9.34 crore in the same period last year. The company's consolidated revenue for the quarter was 1,089.57 crore, a 25.36% increase from the previous year. The total insurance premium for the quarter was 5,127 crore, contributing to an Annual Recurring Revenue (ARR) of ₹20,000 crore in insurance premiums. This growth was mainly due to the expansion in the new health and life insurance segments. The company's cash position improved by ₹259 crore year-on-year, reaching ₹5,263 crore, thanks to a 39% year-on-year growth in core online revenue, which amounted to ₹2,375 crore. Adjusted EBITDA rose to ₹324 crore from 107 crore, improving the margin from 6% to 14%.
Larsen & Toubro: L&T is anticipated to deliver strong Q4FY24 results, driven by enhanced construction activity, robust demand, and a solid order book. The company's net profit for the fiscal fourth quarter is projected to increase by 9.8% YoY to ₹4,380 crore. Revenue is expected to surge by 18.6% YoY to ₹65,402 crore, and EBITDA is likely to rise by 31% YoY to ₹7,553.9 crore. The results will be announced on May 8.
JSW Energy: The company reported a 29% increase in its consolidated net profit to ₹351 crore in the March quarter, primarily due to higher revenues. The company's total revenue for the quarter increased by 3% year-on-year to ₹2,879 crore. The board recommended a dividend of ₹2 per equity share of ₹10 (20%) and approved the raising of funds not exceeding ₹10,000 crore in one or more tranches.
Jaiprakash Associates: JAL has failed to meet its loan repayment obligations on April 30, amounting to ₹4,616 crore. The company's financial commitments are undergoing restructuring, and out of its total debt of ₹29,805 crore, JAL plans to transfer 18,955 crore to a Special Purpose Vehicle (SPV).
Voltas: The company reported a 22.8% YoY drop in net profit at 110.6 crore for Q4FY24. The company's revenue from operations jumped 42.1% to ₹4,202.9 crore. EBITDA fell 12.6% to ₹190.6 crore in the fourth quarter of this fiscal.
Pidilite Industries: The company reported a 6.4% YoY increase in net profit at ₹304.3 crore for the fourth quarter that ended March 31, 2024. The company's revenue from operations increased 7.9% to ₹2,901.9 crore. EBITDA jumped 25.6% to 576.9 crore in the fourth quarter of this fiscal. The board of directors have recommended a dividend of 16 per equity share of 1 each for the financial year ended March 31, 2024.
Forwarded from Money Plant - Grow Unlimited 🪷
Stocks to watch-
Dr Reddy's Laboratories: The pharmaceutical company reported a net profit of ₹1,307 crore for Q4FY24, a 36% year-on-year increase, primarily driven by strong performance in the US market. The company's revenue increased to ₹7,083 crore during the quarter, a 12% year-on-year growth. For the full year FY24, DRL reported a net profit of 5,568.4 crore, a 36% increase, and total revenues of ₹27,920 crore, up 14% on year. The company expects FY25 to allow a double-digit growth with a 25% Ebitda. The company's global generics segment saw a 13% revenue increase to ₹6,120 crore, mainly due to higher base business volumes and new product launches.
PB Fintech: The parent company of Policybazaar reported a net profit of ₹60.19 crore for Q4FY24, a significant improvement from a loss of ₹9.34 crore in the same period last year. The company's consolidated revenue for the quarter was 1,089.57 crore, a 25.36% increase from the previous year. The total insurance premium for the quarter was 5,127 crore, contributing to an Annual Recurring Revenue (ARR) of ₹20,000 crore in insurance premiums. This growth was mainly due to the expansion in the new health and life insurance segments. The company's cash position improved by ₹259 crore year-on-year, reaching ₹5,263 crore, thanks to a 39% year-on-year growth in core online revenue, which amounted to ₹2,375 crore. Adjusted EBITDA rose to ₹324 crore from 107 crore, improving the margin from 6% to 14%.
Larsen & Toubro: L&T is anticipated to deliver strong Q4FY24 results, driven by enhanced construction activity, robust demand, and a solid order book. The company's net profit for the fiscal fourth quarter is projected to increase by 9.8% YoY to ₹4,380 crore. Revenue is expected to surge by 18.6% YoY to ₹65,402 crore, and EBITDA is likely to rise by 31% YoY to ₹7,553.9 crore. The results will be announced on May 8.
JSW Energy: The company reported a 29% increase in its consolidated net profit to ₹351 crore in the March quarter, primarily due to higher revenues. The company's total revenue for the quarter increased by 3% year-on-year to ₹2,879 crore. The board recommended a dividend of ₹2 per equity share of ₹10 (20%) and approved the raising of funds not exceeding ₹10,000 crore in one or more tranches.
Jaiprakash Associates: JAL has failed to meet its loan repayment obligations on April 30, amounting to ₹4,616 crore. The company's financial commitments are undergoing restructuring, and out of its total debt of ₹29,805 crore, JAL plans to transfer 18,955 crore to a Special Purpose Vehicle (SPV).
Voltas: The company reported a 22.8% YoY drop in net profit at 110.6 crore for Q4FY24. The company's revenue from operations jumped 42.1% to ₹4,202.9 crore. EBITDA fell 12.6% to ₹190.6 crore in the fourth quarter of this fiscal.
Pidilite Industries: The company reported a 6.4% YoY increase in net profit at ₹304.3 crore for the fourth quarter that ended March 31, 2024. The company's revenue from operations increased 7.9% to ₹2,901.9 crore. EBITDA jumped 25.6% to 576.9 crore in the fourth quarter of this fiscal. The board of directors have recommended a dividend of 16 per equity share of 1 each for the financial year ended March 31, 2024.
Dr Reddy's Laboratories: The pharmaceutical company reported a net profit of ₹1,307 crore for Q4FY24, a 36% year-on-year increase, primarily driven by strong performance in the US market. The company's revenue increased to ₹7,083 crore during the quarter, a 12% year-on-year growth. For the full year FY24, DRL reported a net profit of 5,568.4 crore, a 36% increase, and total revenues of ₹27,920 crore, up 14% on year. The company expects FY25 to allow a double-digit growth with a 25% Ebitda. The company's global generics segment saw a 13% revenue increase to ₹6,120 crore, mainly due to higher base business volumes and new product launches.
PB Fintech: The parent company of Policybazaar reported a net profit of ₹60.19 crore for Q4FY24, a significant improvement from a loss of ₹9.34 crore in the same period last year. The company's consolidated revenue for the quarter was 1,089.57 crore, a 25.36% increase from the previous year. The total insurance premium for the quarter was 5,127 crore, contributing to an Annual Recurring Revenue (ARR) of ₹20,000 crore in insurance premiums. This growth was mainly due to the expansion in the new health and life insurance segments. The company's cash position improved by ₹259 crore year-on-year, reaching ₹5,263 crore, thanks to a 39% year-on-year growth in core online revenue, which amounted to ₹2,375 crore. Adjusted EBITDA rose to ₹324 crore from 107 crore, improving the margin from 6% to 14%.
Larsen & Toubro: L&T is anticipated to deliver strong Q4FY24 results, driven by enhanced construction activity, robust demand, and a solid order book. The company's net profit for the fiscal fourth quarter is projected to increase by 9.8% YoY to ₹4,380 crore. Revenue is expected to surge by 18.6% YoY to ₹65,402 crore, and EBITDA is likely to rise by 31% YoY to ₹7,553.9 crore. The results will be announced on May 8.
JSW Energy: The company reported a 29% increase in its consolidated net profit to ₹351 crore in the March quarter, primarily due to higher revenues. The company's total revenue for the quarter increased by 3% year-on-year to ₹2,879 crore. The board recommended a dividend of ₹2 per equity share of ₹10 (20%) and approved the raising of funds not exceeding ₹10,000 crore in one or more tranches.
Jaiprakash Associates: JAL has failed to meet its loan repayment obligations on April 30, amounting to ₹4,616 crore. The company's financial commitments are undergoing restructuring, and out of its total debt of ₹29,805 crore, JAL plans to transfer 18,955 crore to a Special Purpose Vehicle (SPV).
Voltas: The company reported a 22.8% YoY drop in net profit at 110.6 crore for Q4FY24. The company's revenue from operations jumped 42.1% to ₹4,202.9 crore. EBITDA fell 12.6% to ₹190.6 crore in the fourth quarter of this fiscal.
Pidilite Industries: The company reported a 6.4% YoY increase in net profit at ₹304.3 crore for the fourth quarter that ended March 31, 2024. The company's revenue from operations increased 7.9% to ₹2,901.9 crore. EBITDA jumped 25.6% to 576.9 crore in the fourth quarter of this fiscal. The board of directors have recommended a dividend of 16 per equity share of 1 each for the financial year ended March 31, 2024.
Morning Alert..
*Markets log biggest drop in 4 months; Sensex ends 1,062 points lower*
Benchmark indices posted their biggest decline in nearly four months as foreign portfolio investors (FPIs) intensified their selling amid uncertainty around general elections in India and rate cuts at the US central bank. The Sensex ended the session at 72,404, with a decline of 1,062 points, or 1.5 per cent, its biggest fall since January 2023. The Nifty closed at 21,958, following a decline of 355 points, or 1.5 per cent. The index finished below its 100-day moving average (DMA), seen as a critical support, for the first time since November 13, 2023. FPIs sold shares worth nearly Rs 7,000 crore, their biggest single-day pullout in nearly a month. “Results have been a mixed bag with a fair share of downside rather than upsides in earnings. The corporate results haven’t surpassed expectations. Valuations are becoming more stretched. Analysts are cutting target prices or reducing their position from buy to hold. And some are becoming positive about China, and maybe some are taking money out of India to China,” said Andrew Holland, chief executive officer of Avendus Capital Alternate Strategies.
* Global market action*
Dow Jones – Up by 0.05% or 18.58 points
FTSE – Up by 0.33% or 27.30 points
CAC – Up by 0.69% or 56.24 points
DAX – Up by 1.02% or 188.22 points
Gift Nifty – Up by 0.18% or 39.50 points
*FII/DII activities*
FII – Sold 6994.86Cr worth of shares
DII – Bought 5642.53Cr worth of shares.
*Stocks with high delivery Percentage*
Indigo Paints Ltd – 93.1%
Vinati Organics Ltd – 92.3%
AIA Engineering Ltd – 91.8%
Sapphire Foods Ltd – 91.5%
La Opala RG Ltd – 89.9%
*Primary market activities*
IPOs opening today
ABS Marine Services Ltd (NSE SME) – Issue size 96.29Cr
Premier Roadlines Ltd (NSE SME) – Issue size 40.36Cr
Aztec Fluids & Machinery Ltd (BSE SME) – Issue size 24.12Cr
Piotex Industries Ltd (BSE SME) – Issue size 14.47Cr
Listing today
Slone Infosystems Ltd (NSE SME) – Subscribed 667.81x
*Commodities updates*
Gold – Rs 73480/10gm, Silver – Rs 84575/kg, Brcrude – Rs 6603/barrel, Copper – Rs 860/kg
*Corporate News*
PNB Q4 result: Profit jumps nearly three-fold to a 16-quarter high.
Asian Paints Q4 results: Net profit rises 1.8%, misses estimates.
Paytm denies claims on its lending partners invoking loan guarantees.
*Markets log biggest drop in 4 months; Sensex ends 1,062 points lower*
Benchmark indices posted their biggest decline in nearly four months as foreign portfolio investors (FPIs) intensified their selling amid uncertainty around general elections in India and rate cuts at the US central bank. The Sensex ended the session at 72,404, with a decline of 1,062 points, or 1.5 per cent, its biggest fall since January 2023. The Nifty closed at 21,958, following a decline of 355 points, or 1.5 per cent. The index finished below its 100-day moving average (DMA), seen as a critical support, for the first time since November 13, 2023. FPIs sold shares worth nearly Rs 7,000 crore, their biggest single-day pullout in nearly a month. “Results have been a mixed bag with a fair share of downside rather than upsides in earnings. The corporate results haven’t surpassed expectations. Valuations are becoming more stretched. Analysts are cutting target prices or reducing their position from buy to hold. And some are becoming positive about China, and maybe some are taking money out of India to China,” said Andrew Holland, chief executive officer of Avendus Capital Alternate Strategies.
* Global market action*
Dow Jones – Up by 0.05% or 18.58 points
FTSE – Up by 0.33% or 27.30 points
CAC – Up by 0.69% or 56.24 points
DAX – Up by 1.02% or 188.22 points
Gift Nifty – Up by 0.18% or 39.50 points
*FII/DII activities*
FII – Sold 6994.86Cr worth of shares
DII – Bought 5642.53Cr worth of shares.
*Stocks with high delivery Percentage*
Indigo Paints Ltd – 93.1%
Vinati Organics Ltd – 92.3%
AIA Engineering Ltd – 91.8%
Sapphire Foods Ltd – 91.5%
La Opala RG Ltd – 89.9%
*Primary market activities*
IPOs opening today
ABS Marine Services Ltd (NSE SME) – Issue size 96.29Cr
Premier Roadlines Ltd (NSE SME) – Issue size 40.36Cr
Aztec Fluids & Machinery Ltd (BSE SME) – Issue size 24.12Cr
Piotex Industries Ltd (BSE SME) – Issue size 14.47Cr
Listing today
Slone Infosystems Ltd (NSE SME) – Subscribed 667.81x
*Commodities updates*
Gold – Rs 73480/10gm, Silver – Rs 84575/kg, Brcrude – Rs 6603/barrel, Copper – Rs 860/kg
*Corporate News*
PNB Q4 result: Profit jumps nearly three-fold to a 16-quarter high.
Asian Paints Q4 results: Net profit rises 1.8%, misses estimates.
Paytm denies claims on its lending partners invoking loan guarantees.
STOCKS KA GYAN 💬
Shriram Finance: US-based Warburg Pincus has acquired a majority stake in Shriram Housing Finance Ltd (SHFL) for ₹4,630 crore, marking its largest deal in India. The acquisition was made through its affiliate Mango Crest Investment Ltd from Shriram Finance Ltd (SFL) and other sellers. The deal is expected to be completed by February 7,2025.
Bharti Airtel: The telecom company is projected to report a Q4FY24 consolidated net profit of ₹2,201 crore, a 26.8% YoY decrease, according to analyst estimates. The company's revenue is anticipated to rise by 7.9% YoY to ₹38,736 crore in Q4FY24, with operating profit margins expected to increase by 549 basis points to 31% YoY. Further, operating profit margins are predicted to rise by 57 basis points YoY to 52.4% in the January-to-March quarter. The company's subscriber base is expected to grow by three million to reach 349 million in Q4FY24.
Vedanta: The company is considering raising funds through equity shares or other methods such as a further public offer (FPO), rights issue, etc. The decision is expected to be finalized in the upcoming board meeting scheduled for May 16.
Sanofi India: The pharmaceutical major reported a standalone net profit of ₹136.6 crore for Q1FY24, a 28% decrease from the same quarter of the previous year. The company's revenue was ₹732.4 crore, a 0.5% decrease from the year-ago quarter.
DLF: The realty company reported a 62% increase in its consolidated net profit to ₹920.71 crore in Q4FY24 due to higher income and strong housing sales. The company also announced a dividend of *5 per equity share (250%) of face value of 2 each for FY24. It also announced the appointment of Ashok Kumar Tyagi as the managing director of the company, after the resignation of Vivek Anand effective from 29 February 2024.
Zomato: Following its first annual profit, Zomato is expanding its quick-commerce venture, Blinkit, aiming to add 100 dark stores by June and reach a target of 1,000 warehouses by the fiscal year-end. Blinkit, which turned operationally profitable in March, witnessed a twofold increase in both revenue and gross order value in Q4. Zomato added approximately 75 Blinkit stores from January to March, bringing the total warehouse count to 526. In the March quarter, Zomato reported a profit of 175 crore, a significant turnaround from a loss of 188 crore in the same period the previous year, with operational revenue rising to ₹3,582 crore from ₹2,058 crore. For the full financial year 2023-24, Zomato recorded a profit of ₹351 crore, compared to a loss of ₹971 crore in the preceding year.
INOX India: The company reported a 44% YoY increase in their net profit to ₹44 crore in Q4FY24. The company's revenue increased 17% YoY from 235 crore to ₹276 crore. Sequentially, the company's net profit declined 9% from ₹48.5 crore, while revenue from operations plunged 4% from *290 crore the December 2023 quarter.
ICICI Securities: The National Company Law Tribunal (NCLT) has deferred the ICICI Securities case in which non-institutional minority shareholders challenged its delisting and merger with ICICI Bank. The case is now expected to be taken up in July.
Shriram Finance: US-based Warburg Pincus has acquired a majority stake in Shriram Housing Finance Ltd (SHFL) for ₹4,630 crore, marking its largest deal in India. The acquisition was made through its affiliate Mango Crest Investment Ltd from Shriram Finance Ltd (SFL) and other sellers. The deal is expected to be completed by February 7,2025.
Bharti Airtel: The telecom company is projected to report a Q4FY24 consolidated net profit of ₹2,201 crore, a 26.8% YoY decrease, according to analyst estimates. The company's revenue is anticipated to rise by 7.9% YoY to ₹38,736 crore in Q4FY24, with operating profit margins expected to increase by 549 basis points to 31% YoY. Further, operating profit margins are predicted to rise by 57 basis points YoY to 52.4% in the January-to-March quarter. The company's subscriber base is expected to grow by three million to reach 349 million in Q4FY24.
Vedanta: The company is considering raising funds through equity shares or other methods such as a further public offer (FPO), rights issue, etc. The decision is expected to be finalized in the upcoming board meeting scheduled for May 16.
Sanofi India: The pharmaceutical major reported a standalone net profit of ₹136.6 crore for Q1FY24, a 28% decrease from the same quarter of the previous year. The company's revenue was ₹732.4 crore, a 0.5% decrease from the year-ago quarter.
DLF: The realty company reported a 62% increase in its consolidated net profit to ₹920.71 crore in Q4FY24 due to higher income and strong housing sales. The company also announced a dividend of *5 per equity share (250%) of face value of 2 each for FY24. It also announced the appointment of Ashok Kumar Tyagi as the managing director of the company, after the resignation of Vivek Anand effective from 29 February 2024.
Zomato: Following its first annual profit, Zomato is expanding its quick-commerce venture, Blinkit, aiming to add 100 dark stores by June and reach a target of 1,000 warehouses by the fiscal year-end. Blinkit, which turned operationally profitable in March, witnessed a twofold increase in both revenue and gross order value in Q4. Zomato added approximately 75 Blinkit stores from January to March, bringing the total warehouse count to 526. In the March quarter, Zomato reported a profit of 175 crore, a significant turnaround from a loss of 188 crore in the same period the previous year, with operational revenue rising to ₹3,582 crore from ₹2,058 crore. For the full financial year 2023-24, Zomato recorded a profit of ₹351 crore, compared to a loss of ₹971 crore in the preceding year.
INOX India: The company reported a 44% YoY increase in their net profit to ₹44 crore in Q4FY24. The company's revenue increased 17% YoY from 235 crore to ₹276 crore. Sequentially, the company's net profit declined 9% from ₹48.5 crore, while revenue from operations plunged 4% from *290 crore the December 2023 quarter.
ICICI Securities: The National Company Law Tribunal (NCLT) has deferred the ICICI Securities case in which non-institutional minority shareholders challenged its delisting and merger with ICICI Bank. The case is now expected to be taken up in July.