Stocks To Watch: Britannia Industries, Tata Technologies, Avenue Supermarts, Godrej Consumer Products
Here are the stocks to watch before going into trade today.
The stocks of Britannia Industries Ltd., Tata Technologies Ltd., Avenue Supermarts Ltd. and Kotak Mahindra Bank Ltd. will be in focus after they announced their quarterly earnings last week. In addition, Godrej Consumer Products Ltd., Lupin Ltd., as well as CG Power and Industrial Solutions Ltd. will be in the spotlight as they announce their quarterly results on Monday.
Vodafone Idea Ltd. said it supports increase in tariffs market-wide, as a rise in the prices would help to generate reasonable returns and boost further investments.
The National Stock Exchange Ltd. will issue four bonus shares for each stock held by eligible shareholders. The bonus shares will be issued based on necessary approvals, the company said in a statement on Friday.
Benchmarks in Australia rose in early trade today, taking cues from overnight gains on Wall Street, and as risk appetite improved following softer-than-expected U.S. jobs data.
The S&P ASX 200 was trading 40.50 points or 0.53% higher at 7,669.50 as of 06:38 a.m. Financial markets in Japan and South Korea are closed today.
Wall Street took a slowdown in the US jobs market as an indication that the Federal Reserve will be able to start cutting rates as early as September, with traders sending stocks up sharply as bond yields fell, Bloomberg said.
The S&P 500 index and Nasdaq Composite rose by 1.26% and 1.99%, respectively, as on Friday. The Dow Jones Industrial Average gained by 1.18%.
Brent crude was trading 0.02% lower at $82.94 a barrel. Gold rose 0.10% at $2,304.13 an ounce.
The GIFT Nifty was trading 7 points or 0.03% lower at 22,686.00 as of 06:39 a.m.
India's benchmark stock indices reversed early gains to end lower on Friday on profit-booking and caution ahead of US non-farm payroll data. Heavyweights Reliance Industries Ltd., Larsen & Toubro Ltd., and HDFC Bank Ltd. dragged the indices lower, limiting the weekly gains in both the NSE Nifty 50 and S&P BSE Sensex.
The Nifty 50 ended 172.35 points, or 0.76%, lower at 22,475.85, and the Sensex fell 732.96 points, or 0.98%, to close at 73,878.15.
Overseas investors remained net sellers of Indian equities for the second consecutive session on Friday. Foreign portfolio investors offloaded stocks worth Rs 2,392 crore and domestic institutional investors stayed net buyers for the eighth day and mopped up equities worth Rs 690.5 crore, according to provisional data from the National Stock Exchange.
The Indian currency strengthened by 3 paise to close at Rs 83.43 against the US dollar.
Earnings In Focus
Godrej Consumer Products Ltd., CG Power And Industrial Solutions Ltd., Lupin Ltd., Indian Bank Ltd., Marico Ltd., Gujarat Gas Ltd., Gujarat Fluorochemicals Ltd., Grindwell Norton Ltd., Happiest Minds Technologies Ltd., Route Mobile Ltd., Arvind Ltd., and Cartrade Tech Ltd.
Earnings Post Market Hours
Britannia Industries (Consolidated, YoY)
Revenue up 1.14% at Rs 4,069 crore vs Rs 4,023 crore (Bloomberg estimate Rs 4,109 crore).
Ebitda down 1.67% at Rs 787 crore vs Rs 801 crore, (Bloomberg estimate Rs 782 crore).
Margin down 55 bps at 19.35% vs 19.9%, (Bloomberg estimate 19%).
Net profit down 3.76% at Rs 537 crore vs Rs 558 crore (Bloomberg estimate Rs 542 crore).
Recommended final dividend of Rs 73.5 per share.
Tata Tech (Consolidated, QoQ)
Revenue up 0.89% at Rs 1,301 crore vs Rs 1,289 crore (Bloomberg estimate Rs 1,287 crore).
EBIT at up 0.76% Rs 211 crore vs Rs 209 crore, (Bloomberg estimate Rs 213.4 crore).
Margin down 2 bps at 16.21% vs 16.23% (Bloomberg estimate 16.5%).
Net profit down 7.62% at Rs 157 crore vs Rs 170 crore (Bloomberg estimate Rs 177 crore).
Board recommended final dividend of Rs 8.4 per share and special dividend of Rs 1.65 per share.
Titan (Consolidated, YoY)
Revenue up 20.59% at Rs 12,494 crore vs Rs 10,360 crore (Bloomberg estimate Rs 10,567 crore).
Ebitda up 9.36% at Rs 1,191 crore vs Rs 1,089 crore (Bloomberg estimate Rs 1,294 crore).
Margin down 97 bps at 9.53% vs 10.51% (Bloomberg estimate 12.2%).
Net profit up 4.75% at Rs 771 crore vs Rs 736 crore (Bloomberg estimate Rs 876 crore).
Mangalore Refinery and Petrochemicals (Consolidated, QoQ)
Revenue up 2.91% at Rs 25,329 crore vs Rs 24,667 crore.
Ebitda up 100.92% at Rs 2330 crore vs Rs 1159 crore.
Margin up 449 bps at 9.19% vs 4.7%.
Net profit up 190.39% at Rs 1,139 crore vs Rs 392 crore.
Board recommends final dividend of Rs 2 per share.
Inox Wind (Consolidated, YoY)
Revenue up 176.66% at Rs 528 crore vs Rs 191 crore (Bloomberg estimate Rs 856 crore).
Ebitda at Rs 102.2 crore vs loss of Rs 30.92 crore (Bloomberg estimate Rs 113 crore).
Margin at 19.36% (Bloomberg estimate 13.2%).
Net profit at Rs 36.7 crore vs loss of Rs 119.04 crore (Bloomberg estimate Rs 58.45 crore).
Aarti Drugs (YoY)
Revenue down 19.66% at Rs 559 crore vs Rs 696 crore.
Ebitda down 21.98% at Rs 69.06 crore vs Rs 88.52 crore.
Margin down 36 bps at 12.34% vs 12.71%.
Net profit down 32.02% at Rs 36.14 crore vs Rs 53.17 crore.
Carborundum Universal (Consolidated, YoY)
Revenue up 0.13% at Rs 1,201 crore vs Rs 1,200 crore (Bloomberg estimate Rs 1,235 crore).
Ebitda up 10.03% at Rs 209 crore vs Rs 190 crore (Bloomberg estimate Rs 189 crore).
Margin up 156 bps at 17.43% vs 15.86% (Bloomberg estimate 15.3%).
Net profit down 4.18% at Rs 143 crore vs Rs 149 crore (Bloomberg estimate Rs 119 crore).
Stocks to Watch
HDFC Bank: RBI has approved the re-appointment of Atanu Chakraborty as part-time chairman for 3 years effective May 5.
Dr Reddy’s: The company announced the launch of Doxycycline capsules in the US.
Vodafone Idea: The company to focus on expanding 4G in 17 priority circles to improve competitiveness.
Life Insurance Corp: IRDAI has allowed the company to replenish excess expenses from holders' accounts starting Q1 FY25 under respective segments.
Aurobindo Pharma: USFDA inspected Unit II of the company's arm's Rajasthan facility from April 25 to May 3 and closed with 7 observations.
Adani Energy: The company arm Adani Electricity Mumbai completed the acquisition of a 100% stake in Pointleap Projects.
Goa Carbon: The company has temporarily shut down operations at the Odisha plant for maintenance purposes.
DCM Shriram: The company commissioned its Caustic Soda Expansion Project in Gujarat. With this commissioning Bharuch complex will be the single largest caustic soda complex in the country thereby driving economies of scale.
Vodafone Idea Backs A Tariff Hike Across The Market, Plans To Expand 4G Coverage In 17 Circles
IPO Offering
Indegene India: The company will offer its shares for bidding on Monday. The price band is set from Rs 430 to Rs 452 per share apiece. The Rs 1,841.76 crore IPO is combination of fresh issue of Rs 760 crore and rest offer for sale. The company has raised Rs 548 crore from anchor investors.
Block Deals
Gravita India: Abudhabi Investment Authority Monsoon bought 7.5 lakh shares (1.08%) while Rajat Agrawal sold 7.5 lakh shares (1.08%) at Rs 934.4 apiece.
Bulk Deals
Yes Bank: CA Basque Investments sold 59.40 crore shares (2.06%) at Rs 24.27 apiece while Goldman Sachs (Singapore) PTE.- ODI bought 36.92 crore shares (1.28%) at Rs 24.26 apiece.
Cigniti Technologies: Rajasthan Global Securities bought 2.77 lakh shares (1.01%) at Rs 1,348.76 apiece.
Insider Trade
Wardwizard Innovations and Mobility: Promoter Wardwizard Solutions India sold 23.45 lakh shares on April 30.
Trading Tweaks
Moved out of short-term ASM framework: Action Construction Equipment, Authum Investment and Infrastructure, Amara Raja Energy and Mobility, Gravita India, Hind Rectifiers, Tejas Networks.
Moved into short-term ASM framework: Jana Small Finance Bank, Ram Ratna Wires.
Price Band change from 20% to 10%: Newgen Software Technologies.
F&O Cues
Nifty May futures down by 0.98% to 22,575.2 at a premium of 99.35 points.
Nifty May futures open interest down by 5.4%.
Nifty Bank May futures down by 0.68% to 49,094.75 at a premium of 171.2 points.
Nifty Bank May futures open interest down by 8.67%.
Nifty Options May 9 Expiry: Maximum Call open interest at 22,800 and Maximum Put open interest at 22,000.
Bank Nifty Options May 8 Expiry: Maximum Call Open Interest at 49,500 and Maximum Put open interest at 47,000.
Securities in ban period: Aditya Birla Fashion, Balrampur Chini Mills, Biocon, GMR Infra, Vodafone Idea.
