Share Market Highlights 23rd April 2024: Sensex, Nifty hold steady; Sensex rises 89 points to 73,857, Nifty 50 rises 31.60 pts to 22368

Zinc futures on the Multi Commodity Exchange (MCX) has been facing resistance at ₹250 over the past few sessions. As the contract continues to hover around this price band, the chance of a corrective decline is increasing.

After rallying over 400 points, the 30-share BSE Sensex ended 89.83 points or 0.12 per cent higher at 73,738.45. During the session, it jumped 411.27 points or 0.55 per cent to 74,059.89

The Indian rupee ended little changed on Tuesday as dollar demand from importers pulled the South Asian currency back from the near two-week high it hit during the session.

Rama Steel Tubes board has approved raising of funds by way of further issue of Equity Shares for an aggregate amount of upto ₹500 crore.

Stock closed at ₹13.65 on the NSE, higher by 6.64%

Natco Pharma has received the Establishment Inspection Report (EIR) from US Food and Drug Administration (USFDA) the firm’s compliance to Pharmacovigilance requirements with zero observations. In November last year, Hyderabad-based Natco informed the successful completion of United States Food and Drug Administration’s (USFDA) inspection of the firm’s compliance to Pharmacovigilance requirements with zero observations,

Adroit Infotech Ltd has entered into non-binding share purchase agreement with a US based ERP Solutions Company. 

Adroit Infotech stock closed at ₹20, up 1.78% on the NSE.

Dwarikesh Sugar Industries Limited has informed the exchange regarding closure of buy back (aggregating to ₹31.50 crore) with effect from today.

Bharti Airtel stock rises 3.49% on the NSE to trade at ₹1,342.85. Stock hit 52-week high at ₹1,351.

Major gainers:

Grasim (3.86%), Bharti Airtel (3.28%), Nestle India (1.91%), Maruti (1.53%), HCL Tech (1.46%)

Major losers:

Sun Pharma (-3.58%), BPCL (-1.45%), M&M (-1.33%), Reliance (-1.21%), Hindalco (-1.07%)

Stocks advanced on BSE at 3 pm on April 23, 2024, were 2,358 against 1,419 stocks that declined; 138 stocks remain unchanged. Total stocks traded were 3,915. The number of stocks that recorded a 52-week high was 251, and those that hit a 52-week low was 8. 

In addition, 387 stocks traded in upper circuit, while 204 hit the lower circuit.

Kalpataru Projects International has received an order under the provisions of Section 73 of the State Goods and Services Tax Act, 2017 read with relevant provisions of the Central Goods and Services Tax Act, 2017 and the rules made thereunder, from the GST Authority. 

The authority has demanded GST along with interest and penalty pertaining to erstwhile JMC Projects (India) Limited (since amalgamated with the Company) for the F.Y. 2018-19 on grounds of alleged excess claim of ITC. The authority has demanded to pay an aggregate tax amount of ₹31.93 lakh along with interest of ₹29.68 lakh and penalty of ₹3.19 lakh.

The Company plans to file an appeal/writ against the said order. 

Shares decline 1.16% on the NSE, trading at ₹1,186.70.

Mastek has won a multi-tower deal from Yanbu Cement Company (YCC). 

Mastek stock rises 3.01% on the NSE, trading at ₹2,730.05.

NBCC has secured new works of ₹23,500 crore on a consolidated basis and ₹18,400 crore on standalone basis in FY23-24.

NBCC stock surges 4.31% on the NSE, trading at ₹130.60.

BSE Sensex trades at 73,799.31, up 150.69 pts or 0.20% as of 2.10 pm, and Nifty 50 trades at 22,378.10, up 41.70 pts or 0.19%.

Nifty oil and gas, pharma, and healthcare index trade in negative territory.

Nifty realty continues to trade over 2% at 958.95.

Zydus Lifesciences announced that the New Drug Application (NDA of Desidustat Tablets has been accepted by the National Medical Products Administration of China (NMPA). 

Stock inches up 0.44% on the NSE, trading at ₹963.90.

Atlantaa Limited has been chosen as the developer to redevelop the plot and premises of Highway Milton co-operative housing society Limited, Bansi Nagar, Off Western Express Highway, Borivali (East), Mumbai.

Stock surges 4.93% on the NSE, trading at ₹35.10.

RPP Infra Projects Ltd wins new orders worth ₹412.81 Crore. 

Stock surges 4.97% on the NSE, trading at ₹121.55.

Siyaram Silk Mills Limited has received demand order from the West Bengal Deputy Commissioner of Revenue, State Tax. Stock trades at ₹471.25 on the NSE, down by 0.51%.

Tata Power Solar Systems Ltd (TPSSL), a wholly-owned subsidiary of Tata Power Renewable Energy Ltd (TPREL), has tied up with Indian Bank for the adoption of solar rooftop among residential consumers. The collaboration aims to facilitate financing solutions under the Pradhan Mantri Surya Ghar Muft Bijli Yojana scheme for installations up to 3 KW and extend support for installations ranging from 3 to 10 KW under the regular scheme.

Tata Power stock trades at ₹429.95 on the NSE, up 0.47%.

Ashima Ltd has approved a proposal for the incorporation of a wholly-owned subsidiary for the purpose of undertaking the business activities of “Investment Management and Advisory Services.”

The stock rallied 14.75% on the NSE, trading at ₹21.

Intellect Design Arena Ltd.’s shares were up by 0.07 per cent after the company reported that its transaction banking specialist, Intellect Global Transaction Banking (iGTB) with Jordan Kuwait Banks implemented a fully integrated Corporate Banking platform. It is powered by eMACH.ai with 50 per cent coverage amongst active transaction banks in the country. Read more

Hatsun Agro Product Ltd’s shares were up by 11.17 per cent after the company reported its financial results for the fourth quarter and the financial year ending March 31, 2024. In Q4 FY24, the company saw a revenue growth of 14.38%, with revenue from operations reaching ₹2046.87 crore compared to last year when the company reported ₹1789.46 crore. Read more

Crompton Greaves Consumer Electricals has received an order from the office of the Commercial Tax Officer (Audit) Bangalore, for the period April 2018 to March 2019 imposing demand of ₹11,87,308 (Tax ₹5,89,234, interest ₹5,39,150 and penalty of ₹58,924) under Goods and Service Tax Act,2017. The Company is planning to appeal against this order.

Stock trades at ₹304.95 on the NSE, down by 0.73%.

Choice International board has approved proposals to increase authorised share capital from ₹201 crore to ₹225 crore, and to raise funds aggregating to ₹693.60 crore by warrant issue to be converted into equity shares.

The stock rises 1.77% on the NSE, trading at ₹332.90.

DIC India has received a notice from the Gujarat Commissionerate of Taxes for GST not paid/ short paid/ input tax credit wrongly availed or utilised for an amount of ₹1,22,92,835, it includes interest and penalty under respective GST Act. 

DIC India stock rallied 8.42% on the NSE, trading at ₹473.

Major gainers:

Bharti Airtel (3.72%), Grasim (3.26%), HCL Tech(2.33%), Tata Motors (1.38%), NTPC (1.31%)

Major losers:

Sun Pharma (-1.97%), M&M (-0.58%), Hindalco (-0.56%), Reliance (-0.52%), Tata Consumers (-0.47%)

A total of 2,393 stocks advanced on BSE at 12:08 pm on April 23, 2024, against 1,234 stocks that declined; 141 stocks remained unchanged. Total stocks traded were 3,768. The number of stocks that recorded a 52-week high was 220, and those that hit a 52-week low was 7. 

In addition, 306 stocks traded in upper circuit, while 178 hit the lower circuit.

Financial conditions improved for the second consecutive month in March, according to Crisil’s Financial Conditions Index (FCI), which moved up 40 basis points to 1.0 — the highest since August 2023. Higher FCI value indicates better financial conditions. Read more

Bank Nifty began today’s session higher at 48,300 versus yesterday’s close at 47,925. But it gave back almost all the gains and now hovers around yesterday’s close. Read more

Aarti Drugs has said the USFDA has inspected the Formulations (Oncology) manufacturing facility of its subsidiary - Pinnacle Life Science Pvt Ltd - at Baddi, Himachal Pradesh. It has received five inspectional observations in Form 483, none of which are related to Data Integrity. The company will work closely with USFDA in resolving all points.

Aarti Drugs stock trades at ₹495.60 on the NSE, up 0.46%.

Jyoti Structures has been pre-qualified by Kenya Transmission Company Ltd (KETRACO) to bid for the 132 kV Narok-Bomet Transmission Line tender for 88 km on total turnkey basis. 

The techno-commercial bid submission for the tender is due on April 25, 2024. 

Jyoti Structures stock surges 4.09% on the NSE, trading at ₹22.90.

HDFC Bank informed that a penalty of ₹0.04 crore has been imposed on the Bank by Deputy Commissioner of State Tax, West Bengal, for alleged excess availment of input tax credit - Order passed under section 73 (9) of CGST Act.

Stock trades at ₹1,510.30 on the NSE, down by 0.13%.

Major stocks that hit 52-week high on the NSE:

Tejas Networks (20%)

Smartlink (14.78%)

Cochin Shipyard (9.86%)

MOIL (6.26%)

Lloyds Luxuries (5.79%)

Fedders Electric and Engineering board has approved the issuance of redeemable Non-Convertible Cumulative Preference shares of face value of ₹10 each at a premium of ₹40, aggregating to ₹25 Crore.

Bharat Aluminium Company Ltd (BALCO), a subsidiary of Vedanta Limited, has received three orders from the Office of the Commissioner, Korba, confirming demand of a penalty of ₹1,000 along with Tax demand under relevant provisions of Entry of Goods into Chhattisgarh Local Area Act, 1796; penalty of ₹1,000 along with Tax demand under relevant provisions of Central Sales Tax Act, 1965; and penalty of ₹11,000 along with Tax demand under relevant provisions of Value Added Tax Act, 2005.

Vedanta stock trades at ₹377.60 on the NSE, down by 0.89%.

Major gainers:

Tejas Network (19.26%), TTML (11.47%), Hatsun(10.68%), Sudarshan Chemicals (9.05%), ITI (8.92%)

Major losers:

Sparc (-5%), Sanghvi Movers (-4.76%), M&M Financial(-4.07%), Rallis India (-3.17%), Team Lease (-3.04%)

Awfis Space Solutions, largest flexible workspace solutions company in India, has received market regulator SEBI nod for IPO launch. The company had filed its Draft Red Herring Prospectus with SEBI in December 2023.

The Company’s initial public offering comprises a fresh issue of up to ₹160 crore and an offer for sale of equity shares of up to 10,023,172 equity shares. 

The offer for sale comprising up to 5,011,586 equity shares by Peak XV Partners Investments V (formerly known as SCI Investments v), up to 4,936,412 equity shares aggregating by Bisque Ltd and up to 75,174 equity shares by Link Investment Trust.

The company proposes to use the Net Proceeds from the offer towards Funding capital expenditure towards establishment of new centers, funding for the working capital requirements, and general corporate purposes.

ICICI Securities Limited, Axis Capital Ltd, IIFL Securities, Emkay Global Financial Services Ltd are the Book Running Lead Managers to the issue.

Awfis offers a comprehensive range of flexible workspace solutions, catering to diverse needs, from individual flexible desk requirements to customized office spaces for start-ups, SMEs, and large corporations.

Major gainers among realty stocks: Sobha (5.22%), DLF (3.18%), Lodha (3.16%), Oberoi Realty (3.04%)

Torrent Pharmaceuticals informed that an order was passed by Deputy Commissioner State Tax, Special Circle 1, Kunchanapalli, Andhra Pradesh, under Section 73 of the Goods and Service Act, 2017, imposing a penalty of ₹538.

The order alleges wrong availment of input tax credit in absence of document during FY 2018-19.

Torrent Pharma stock trades at ₹2,612.10 on the NSE, up 0.78%.

EaseMyTrip.com has announced the Easy Summer Sale, scheduled from April 23 to April 27, 2024, The customers can expect discounts: Flights- up to 27% OFF, Hotels- up to 60% OFF, Buses- Up to 15% OFF, Cabs- Up to 12% OFF, and Holidays- Up to ₹30,000 OFF

Easy Trip Planners stock surges 4.67% on the NSE, trading at ₹47.05.

Tuesday 23 April 2024

9:30 AM Rallis

Dial: +91 22 6280 1141

Weblink: https://tinyurl.com/3yj52687

4:00 PM Mahindra Logist

(Press Release )

Dial: +91 22 6280 1309

Weblink: https://tinyurl.com/msyj25aw

5:00 PM Cyient DLM Ltd

Dial: +91 22 7115 8814

Weblink: https://tinyurl.com/yvkhjh9f

6:00 PM M&M Fin

Dial: +91 22 6280 1222

Weblink: https://tinyurl.com/9emcukfz

6:30 PM ICICI Prudential

(Investor/Analyst Presentation)

Dial: +91 22 7115 8305

Weblink: https://tinyurl.com/25f5cvch

7:00 PM Tata Elxsi

Dial: +91 22 6280 1194

Weblink: https://tinyurl.com/yhvy96eh

Major gainers:

Bharti Airtel (1.81%), Titan (1.25%), HCL Tech (1.10%), M&M (0.98%), NTPC (0.95%)

Major losers:

Tata Consumers (-0.70%), Hindalco (0.66%), Britannia (0.51%), L&T (0.41%), Power Grid (0.41%)

Aditya Gaggar, Director of Progressive Shares: Indian equities commenced the week on a strong note and ended the session at the highest point of the day at 22,336. Nifty50 has formed a Dragonfly DOJI candlestick pattern, but the overall positive momentum is likely to push the Index higher to fill the bearish gap zone of 22,430-22,500 while on the lower side, a level of 22,180 (50DMA) will act as support. Indication from GIFT Nifty suggests a positive opening for the markets with moderate gains. BankNifty needs to surpass the immediate hurdle of 48,160 to strengthen its momentum while on the lower side, 47,700 will be considered as a strong support. The Auto sector is attempting to give a fresh breakout from a Bullish Flag and Pole formation, post the breakout one can expect a strong outperformance which we had witnessed in the past. The Energy sector’s direction largely depends on the market reactions to Q4 numbers of Reliance. A range breakout is anticipated in the Metal sector. With a hidden bullish divergence in RSI, a strong reversal was seen from the lower end of the consolidation in the Pharma sector which indicates a continuation of the current underlying uptrend. Some of the fertilizer stocks are on the verge of a breakout, one should keep an eye on the same (GSFC and NFL).

Mahindra & Mahindra Financial Services Limited (MMFSL) on Tuesday said it has detected a fraud in its retail vehicle loans portfolio in the fourth quarter (Q4) of FY24 amounting to Rs 150 crore involving forgery of KYC (know your customer) documents at one of its branches in the North East.

Hatsun Agro: Net Profit at ₹52.2 cr vs ₹25 cr (YoY) Revenue up 14.4% at ₹2,046.9 cr vs ₹1,789.5 cr (YoY) 

Tamilnad Mercantile Bank: Q4 earnings; Net profit unchanged at ₹253 cr (YoY), NII up 7.5% at ₹567 cr vs ₹527.3 cr (YoY)

Tejas Networks: Revenue at Rs 1327 Crores Vs Rs 299 Crores, PAT at Rs 147 Crores Vs Loss of Rs 11.5 Crores (YoY) 

Lloyds Engineering: Company secures naval equipment orders worth over Rs 81 crore.

Sona BLW: Company Precision Forgings commissions new plant in Mexico to meet demand for battery EVs. 

KP Energy: Company gets 9 MW wind power project order from Bhathwari Technologies 

Patanjali Foods: Company incorporates two wholly-owned subsidiaries Contemporary Agro and Rishikrishi Farming 

Zomato: Company hikes platform fee by 25% to Rs 5 

Paytm: Company launches new Made-in-India Soundbox for UPI and Credit Card on UPI payments. 

Indian Overseas Bank: Company raise up to Rs 1,000 crore via debt, up to Rs 5,000 crore via equity.

HDFC Bank: Mitsubishi UFJ Financial Group considering sweetening $1.7 billion offer for minority stake in HDFC Bank’s consumer lending unit 

HAL: Company signs agreement with NAL for manufacture of Bismaleimide Engine Bay Door for series production of Light Combat Aircraft Tejas Mk1A. 

Redtape: Commences online operational activity from it’s new warehouse situated at Bhiwandi 

HPL Elect: Launches new producy- HPL Fans in SAARC Countries; Middle East and African Countries 

*Shriram Finance Ltd: * Company has increased interest rates on digital-only recurring deposits (RDs) by 35-40 basis points 

Vodafone Idea: Company’s FPO Update, Total Subscription 6.3x, Retail 0.8x, QIBs 18x & NIIs 4x 

*Sanghi Industry: * Company approves proposal for raising of funds of up to ₹2,200 cr. 

Union Bank of India: Company classifies BGR Energy’s account as NPA. 

Hero Motocorp: Company’s Chief Technology Officer (CTO) Arun Jaura resigns w.e.f April 30 

Patel Engineering: Company plans to raise as much as Rs 400 crore through Qualified Institutional Placement. 

Rallis India: Net Loss of ₹21 cr vs loss of ₹69 cr (YoY), Revenue down 16.6% at ₹436 cr vs ₹523 cr (YoY) 

Mahindra Logistics: Company reports Q4 earnings, Net loss at ₹11.9 cr vs profit of ₹0.20 cr (YoY) 

RR Kabel: Company approves termination of Dinesh Aggarwal as CEO. 

Ultra Tech Cement: Company gets order from Karnataka GST authority for GST worth Rs 8 crore along with interest and penalty 

Reliance: Net Profit seen at Rs 18,951 crore versus poll of Rs. 18,227 crore, Revenue seen at 236,000 crore versus poll of Rs. 234,000 crore

IndusInd Bank: Executes RBI’s programmable Central Bank Digital Currency pilot

PSP Projects: Company is planning to launch qualified institutional placement (QIP) to raise ₹244 crore,

AB Capital: Revenues Up 12.5% at Rs 114 Crores Vs Rs 101.3 Crores Margins at 17.9% vs 18.4% 

ABFRL: Company needed to raise capital to fuel next phase of business growth, says ABFRL CFO Jagdish Bajaj. 

Wipro: Company step-down unit Synchrony Global voluntarily dissolves. 

Mazdock: Government may dilute stake to meet the minimum Public shareholdings norms by 9% in different Tranches

Kesoram: Net loss at ₹244.4 cr vs loss of ₹26.1 cr (YoY), Revenue up 1.7% at ₹1,073.6 cr vs ₹1,055.4 cr (YoY)

Tanfac: Revenues Down 11% at Rs 102.8 Crores Vs Rs 115.5 Crores, Profit Down 45% at Rs 12.7 Crores Vs Rs 23.3 Crores 

M&M Fin: Company defers board meet scheduled to be held today to consider Q4Results to a later date as a fraud was detected at one of co’s branches in the north east w.r.t retail vehicle loans.

Crude oil futures traded higher on Tuesday morning despite easing of tension between Israel and Iran in West Asian region. At 9.09 am on Tuesday, June Brent oil futures were at $87.35, up by 0.40 per cent, and June crude oil futures on WTI (West Texas Intermediate) were at $81.23, up by 0.40 per cent. May crude oil futures were trading at ₹6862 on Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday morning against the previous close of ₹6834, up by 0.41 per cent, and June futures were trading at ₹6831 against the previous close of ₹6796, up by 0.52 per cent. Read more

The public issue of heating equipment maker JNK India Ltd opens today and closes on April 25 (Thursday) at a price bad of ₹395-415. The minimum lot size for the IPO stands at 36 shares. Read more

Domestic markets are set to open lower on Tuesday, amid mixed global markets. Reliance Industries will be in focus after the conglomerate beat fourth-quarter profit estimates. Besides ongoing corporate results, the expiry of F&O monthly contracts on the NSE will add to volatility, analysts said

India’s GIFT Nifty was trading around 22,400, indicating a downward bias, as NIfty May on Monday closed at 22,496. Read more

23 April 2024 (Today)

Derivative Segment

* ICICI Prudential Life Ins Co Ltd.

* MCX India Ltd.

* Tata Consumer Products Ltd.

Cash Segment

* 360 One Wam Ltd.

* Tata Elxsi Ltd.

24 April 2024

Derivative Segment

* AU Small Finance Bank Ltd.

* Axis Bank Ltd.

* Dalmia Bharat Ltd.

* Hindustan Unilever Ltd.

* LTIMindtree Ltd.

* Oracle Fin Services Software

* Syngene International Ltd.

* The Indian Hotels Company 

Cash Segment

* Equitas Small Finance Bank Ltd.

* Macrotech Developers Ltd.

* Maharashtra Scooters Ltd.

* MAS Financial Services Ltd.

* Nippon Life India AMC

* Supreme Petrochem Ltd.

* Tata Investment Corp Ltd.

25 April 2024

Derivative Segment

* ACC Ltd.

* Bajaj Finance Ltd.

* Coromandel Int Ltd.

* IndusInd Bank Ltd.

* L&T Technology Services 

* Laurus Labs Ltd.

* Mphasis Ltd.

* Nestle India Ltd.

* Tech Mahindra Ltd.

* Vedanta Ltd.

Cash Segment

* Aavas Financiers Ltd.

* Cyient Ltd.

* Embassy Office Parks REIT

* Schaeffler India Ltd.

* Tanla Platforms Ltd.

* Tata Teleservices (Maha) Ltd.

* UTI AMC Ltd.

* Welspun Living Ltd.

* Zensar Technologies Ltd.

26 April 2024

Derivative Segment

* Atul Ltd.

* Bajaj Finserv Ltd.

* HCL Technologies Ltd.

* Maruti Suzuki India Ltd.

* SBI Cards & Payment Services 

* SBI Life Insurance Co Ltd.

* Shriram Finance Ltd.

Cash Segment

* Aditya Birla Sun Life AMC Ltd.

* Bajaj Holdings & Inv Ltd.

* Bank Of Maharashtra

* CSB Bank Ltd.

* Indiabulls Real Estate Ltd.

* KSB Ltd.

* Mahindra Holidays & Resorts 

* Mahindra Lifespace Developers 

* Mastek Ltd.

* Motilal Oswal Financial Services

* Supreme Industries Ltd.

* Usha Martin Ltd.

* VST Industries Ltd.

27 April 2024

Derivative Segment

* ICICI Bank Ltd.

* IDFC First Bank Ltd.

* L&T Finance Ltd.

* RBL Bank Ltd.

Cash Segment

* Craftsman Automation Ltd.

* Yes Bank Ltd.

29 April 2024

Derivative Segment

* Birlasoft Ltd.

* Can Fin Homes Ltd.

* Tata Chemicals Ltd.

* Trent Ltd.

* Ultratech Cement Ltd.

Cash Segment

* Gillette India Ltd.

* KPIT Technologies Ltd.

* PNB Housing Fin Ltd.

* Poonawalla Fincorp Ltd.

* Rossari Biotech Ltd.

30 April 2024

Derivative Segment

* Cholamandalam Inv & Fin Co

* Exide Industries Ltd.

* Havells India Ltd.

* Indian Oil Corporation 

* Indus Towers Ltd.

Cash Segment

* Adani Energy Solutions Ltd.

* Castrol India Ltd.

* Five-Star Business Finance Ltd.

* Nuvoco Vistas Corporation Ltd.

* P&G Hygiene & Health Care 

* Sona BLW Precision Forgings 

* Star Health & Allied Ins Co Ltd.

* Symphony Ltd.

01 May 2024

Derivative Segment

* Ambuja Cements Ltd.

Cash Segment

* Orient Cement Ltd.

* SIS Ltd.

02 May 2024

Derivative Segment

* Coal India Ltd.

* Coforge Ltd.

* Dabur India Ltd.

* The Federal Bank Ltd.

Cash Segment

* Ajanta Pharma Ltd.

* Blue Star Ltd.

* Ceat Ltd.

* CIE Automotive India Ltd.

* K.P.R. Mill Ltd.

* KEI Industries Ltd.

* Procter & Gamble Health Ltd.

* Ugro Capital Ltd.

03 May 2024

Derivative Segment

* Titan Company Ltd.

Cash Segment

* Aptus Value Housing Fin India 

* Carborundum Universal Ltd.

* HFCL Ltd.

* Mangalore Refinery & Petrochem

04 May 2024

Derivative Segment

* Kotak Mahindra Bank Ltd.

Cash Segment

* Kansai Nerolac Paints Ltd.

06 May 2024

Derivative Segment

* Gujarat Gas Ltd.

* Lupin Ltd.

* Marico Ltd.

Cash Segment

* Grindwell Norton Ltd.

07 May 2024

Derivative Segment

* Dr. Reddy’s Laboratories Ltd.

* Max Financial Services Ltd.

* Navin Fluorine International

* Pidilite Industries Ltd.

Cash Segment

* CreditAccess Grameen Ltd.

* Latent View Analytics Ltd.

08 May 2024

Derivative Segment

* Tata Power Company Ltd.

Cash Segment

* BSE Ltd.

* Capri Global Capital Ltd.

* Gujarat State Petronet Ltd.

* Westlife Foodworld Ltd

09 May 2024

Derivative Segment

* Asian Paints Ltd.

* Escorts Kubota Ltd.

Cash Segment

* Alembic Pharmaceuticals Ltd.

* Alkyl Amines Chemicals Ltd.

* Computer Age Mgmt Services 

* Rain Industries Ltd.

10 May 2024

Derivative Segment

* ABB India Ltd.

* Cipla Ltd.

* Tata Motors Ltd.

Cash Segment

* Cholamandalam Fin Holdings Ltd.

* Kalyan Jewellers India Ltd.

* TCI Express Ltd.

* Thermax Ltd.

12 May 2024

Derivative Segment

* JK Cement Ltd.

13 May 2024

Derivative Segment

* Aditya Birla Capital Ltd.

14 May 2024

Derivative Segment

* Shree Cement Ltd.

Cash Segment

* BASF India Ltd.

* Clean Science & Tech Ltd.

16 May 2024

Derivative Segment

* Biocon Ltd.

Cash Segment

* Endurance Technologies Ltd.

* Motherson Sumi Wiring India 

17 May 2024

Derivative Segment

* JSW Steel Ltd.

Cash Segment

* Glaxosmithkline Pharma Ltd.

21 May 2024

Derivative Segment

Nil

Cash Segment

* Gujarat State Fertilizers & Chem

22 May 2024

Derivative Segment

* Jubilant FoodWorks Ltd.

23 May 2024

Derivative Segment

Nil

Cash Segment

* Bikaji Foods International Ltd.

* Esab India Ltd.

24 May 2024

Derivative Segment

* Bosch Ltd.

* Hindalco Industries Ltd.

Cash Segment

* HEG Ltd.

28 May 2024

Derivative Segment

Nil

Cash Segment

* Amara Raja Energy & Mobility 

* Medplus Health Services Ltd.

* TTK Prestige Ltd.

29 May 2024

Derivative Segment

* Cummins India Ltd.

* Samvardhana Motherson Int

Bharat Bijlee Ltd.

Stock Split Rs.10/- to Rs.5/-

Previous day Closing Price – Rs. 6807.65

Ex - Stock Split 24 April 2024 (Tomorrow)

Last day trade for before split Today

Huhtamaki India Ltd

Dividend Per Share Rs.5

Previous day Closing Price – Rs. 345.25

Ex-Dividend 24 April 2024 (Tomorrow)

Last date for Cum-Dividend Today

Silver prices dropped dramatically as bond rates rose due to the central bank’s hawkish statements and recent solid economic statistics. In addition, when tensions in the Middle East eased, the metal’s attraction as a safe haven decreased. On Friday, Chicago Federal Reserve President Austan Goolsbee said that it makes sense to keep policy on hold due to “stalled” progress on inflation. On the geopolitical front, worries of a larger Middle East confrontation have subsided, thanks to Iran’s measured reaction to Israel’s seemingly minor assault against the nation.

Key economic data slated for release includes French Flash Manufacturing PMI, German Flash Manufacturing PMI from Euro Zone, Flash Manufacturing PMI from GBP Zone and Flash Manufacturing PMI, New Home Sales, New Home Sales from US Zone.

Gold sank more than 1% to approximately $2,300, staying around a three-week low, as concerns over a larger Middle East crisis faded. Investors shifted away from safe-haven stocks and towards risky assets after Tehran downplayed Israel’s retaliatory drone attack on Iran, attempting to de-escalate tensions. In addition, forceful remarks from various Federal Reserve officials continued to pressure gold prices. Investors are now looking forward to the publication of the US March personal consumption expenditures data, which is the Fed’s favoured inflation index, on Friday in order to get more clarity on monetary policy’s trajectory. 

Key economic data slated for release includes French Flash Manufacturing PMI, German Flash Manufacturing PMI from Euro Zone, Flash Manufacturing PMI from GBP Zone and Flash Manufacturing PMI, New Home Sales, New Home Sales from US Zone.

The issue opens for subscription on Tuesday while the issue will be closed on Thursday, April 25, 2024. Anchor Book opened on Monday, April 22, 2024 and fully subscribed Company raised Rs. 15.34 crore from the sale of 15.66 lakh equity shares with a face value of Rs. 10/- at Rs. 98/- per share from anchor book.

· The anchor book witnessed participation from leading investors, including BofA Securities Europe SA – ODI, Astorne Capital VCC ARVEN, NAV Capital VCC – NAV Capital Emerging Star Fund, NEGEN Undiscovered Value Fund, Persistent Growth Fund – Varsu India Growth Story Scheme – 1, Craft Emerging Market Fund PCC – Citadel Capital Fund, Moneywise Financial Services Private Limited, LC Radiance Fund VCC and Galaxy Noble Global Opportunities Fund PCC – GNGOF 1 participated in the anchor book subscription

· Emmforce IPO comprises a fresh issue of 54,99,600 equity shares with a face value of Rs. 10 each through the book-building route

· The company intends to utilize the net proceeds from the IPO to invest in subsidiary company - Emmforce Mobility Solutions Private Limited (EMSPL) for setting up a new plant at Jharmajri, Baddi in Himachal Pradesh; meet the company’s working capital requirement; and for general corporate purpose

· The company manufactures niche automotive drivetrain parts and exports most of the products to six continents, primarily to North America and Asia

· Beeline Capital Advisors Private Limited is the Book Running Lead Manager, and Link Intime India Private Limited is the Registrar for the Issue

BoFA

Buy, TP Rs 3250

4Q EBIT in-line: 20% qoq growth in O2C, flattish Oil & Gas, & 3% qoq rise in digital services/-10.5% qoq Retail

4Q capex 23% lower qoq at $2.8bn; Net Debt lower 3% qoq at $14bn

Net Debt/EBITDA at FY24-end was 0.65X; Target <1X

UBS

Buy, TP Rs 3420

Q4 Consol. EBITDA of Rs425bn (in-line ), up 11%/5% YoY/QoQ.

Digital, Retail & upstream drove YoY EBITDA growth, while O2C led QoQ EBITDA increase

Digital (Jio) EBITDA improved 9%/3% YoY/QoQ (in-line)

Retail, net sales growth below expectations

Bernstein

O-P, TP Rs 3160

4Q consolidated EBITDA was a 20bps beat at INR425 bn (+14.3% y-o-y)

Beat was driven by strong E&P and O2C growth.

Consolidated capex continued to moderate (lowest in 2 years) down 23% qoq to INR 232 Bn

MS

OW, TP Rs 3046

RIL’s F4Q24 earnings was slight beat to est.

Energy EBITDA stood out while retail was lower

Net debt & capex intensity declined to lowest in 2 yrs with FCF of $1.3bn in F24

See multiple catalysts for re-rating across verticals 

Jefferies

Buy, TP Raised to Rs 3380

EBITDA rose 5% q/q & in line

While O2C & Jio were ahead, Retail missed.

Retail growth was soft though b/s improved & net debt declined 

Jio was ahead on higher ARPUs due to improved subscriber mix

UBS on Bajaj Fin

Sell Call, Target Rs 6,800

Potential Bajaj Housing Fin Listing May Not Add Considerable Value

If Investors Look At BAF On A Standalone Basis, Believe Biz Profile Would Look Weaker

Standalone Earnings Profile Would Also Look Weaker

There Would Also Likely Be A Holdco Discount For Co’s Market Price

MS on GAIL

Overweight Call, Target Rs 254

Co Has Invested In New Pipeline Capacity

Co Expanded Its Network Vs GSPL

GSPL Has Had Limited Capacity Expansion & Has Seen Nearly 95% Network Utilisation

India’s Regulatory Framework For Pipeline Tariff Remains Unchanged

India’s Regulatory Framework For Pipeline Tariff Has 5-Yr Pipeline Tariff Reset & 12% Post-Tax IRR

Importantly, Also Note That Co’s Pipeline Tariff Was Revised In FY23

CLSA on Indus Tower

Upgrade To Buy, Target Raised To Rs 450 From Rs 335

Co Should Be Key Beneficiary Of Vodafone Idea’s Fundraising

Co Should Be Key Beneficiary Of Vodafone Idea’s Planned Addition Of 48,000 4G/5G Sites

Upgrade CY25/26 Forecasts By 1-9% Factoring In 24,000 Additional Tenancies

24,000 Additional Tenancies Will Boost CY26 EBITDA Growth To 10% YoY

Voda Idea’s Past Dues Settlement Of Rs 5,700 Cr Could Be Worth An Incremental Rs 21/Sh For Co

Although Indus Stock Is Up 150% In 12 M, It Is Still Trading At 60% Disc To Global Tower Peers

MS on SBI Cards

Equal-Weight Call, Target Rs 750

Industry Spending Growth Was 20% YoY In March Vs 26% In February

Co’s Spending Growth Was Much Slower At 1% YoY

Slow Growth Is Likely Because Of The Continued Impact Of RBI’s Notification On Corp Spending

Nuvama on Reliance Ind: Maintain Buy on Company, target price at Rs 3500/sh (Positive)

Jefferies on Reliance Ind: Maintain Buy on Company, raise target price at Rs 3380/sh (Positive)

UBS on Reliance Ind: Maintain Buy on Company, target price at Rs 3420/sh (Positive)

Investec on Entero Health: Initiate Buy on Company, target price at Rs 1590/Sh (Positive)

Investec on Natco Pharma: Maintain Buy on Company, raise target price at Rs 1200/Sh (Positive)

Jefferies on Honasa Consumer: Maintain Buy on Company, target price at Rs 590/Sh (Positive)

CLSA on Indus Towers: Upgrade to Buy on Company, target price at Rs 450/sh (Positive)

MS on GAIL: Maintain Overweight on Company, target price at Rs 254/sh (Positive)

Jefferies on Reliance Ind: Maintain Buy on Company, raise target price at Rs 3380/sh (Positive)

Jefferies on Capital Goods: L&T, NTPC, Bharat Electronics, Siemens, Thermax, JSW Energy, Data Patterns and KEI saw high interest (Positive)

Bernstein on Reliance Ind: Maintain Outperform on Company, target price at Rs 3160/sh (Neutral)

MOSL on Reliance Ind: Maintain Buy on Company, target price at Rs 3245/sh (Neutral)

CLSA on Reliance Ind: Downgrade to Outperform on Company, raise target price at Rs 3300/sh (Neutral)

Macquarie on Reliance Ind: Maintain Neutral on Company, target price at Rs 2660/sh (Neutral)

MS on Reliance Ind: Maintain Overweight on Company, target price at Rs 3046/sh (Neutral)

UBS on BAJAJ Fin: Maintain Sell on Company, target price at Rs 6800/sh (Neutral)

MS on SBI Cards: Maintain Equal weight on Company, target price at Rs 750/sh (Neutral)

JP Morgan on Persistent: Maintain Overweight on Company, target price at Rs 4300/sh (Neutral)

Kotak on Persistent: Maintain Reduce on Company, target price at Rs 3450/sh (Neutral)

Nomura on Persistent: Maintain Neutral on Company, cut target price at Rs 3400/sh from Rs 3800/sh (Negative)

Yesterday’s sharp decline in MCX Gold prices, echoing the significant drop in gold futures, reflects the impact of geopolitical tensions and shifting economic indicators on precious metal markets. The catalyst behind this plunge appears to be Israel’s measured response to Iran’s missile and drone attacks, which alleviated immediate concerns of a broader conflict in the Middle East.

While gold is traditionally seen as a safe-haven asset during times of geopolitical uncertainty, the restrained retaliation by Israel likely tempered investor anxiety, leading to a sell-off in gold positions. This event underscores the intricate interplay between geopolitical developments and market sentiment in determining gold prices.

Looking ahead, market participants are likely to closely monitor upcoming inflation data, particularly the PCE report, scheduled for release later this week. With expectations of a potential acceleration in inflation, driven by persistent economic pressures, the trajectory of inflation could further influence gold prices in the coming days.

Furthermore, the Federal Reserve’s response to inflation dynamics remains a key factor to watch. If inflation continues to outpace expectations, the Fed may reconsider its monetary policy stance, potentially signaling a delay in anticipated interest rate cuts. Such a scenario could exert downward pressure on gold prices, as higher interest rates typically diminish the appeal of non-interest-bearing assets like gold.

In summary, while the recent sharp decline in MCX Gold prices reflects short-term market reactions to geopolitical developments and inflationary pressures, the broader trend will likely be influenced by ongoing economic indicators and the Federal Reserve’s policy decisions. Investors should remain vigilant and adapt their strategies accordingly in response to evolving market dynamics.

HIGHLIGHTS

1. MCX Gold experiences largest single-day drop in over three years, falling 2.21%, echoing the sharp decline in gold futures.

2. Israel’s restrained response to Iran’s missile and drone attacks alleviates immediate geopolitical tensions, contributing to the sell-off in gold.

3. Market sentiment shifts as fears of broader conflict in the Middle East are tempered by Israel’s measured retaliation.

4. Gold, typically a safe-haven asset, sees a decline as investor anxiety eases following Israel’s response.

5. Attention turns to upcoming inflation data, particularly the PCE report, with expectations of a potential acceleration in inflation.

6. Persistent economic pressures may drive inflation higher, impacting gold prices in the short and medium term.

7. Federal Reserve’s stance on interest rates becomes crucial, with expectations of potential delays in anticipated rate cuts due to elevated inflation levels.

8. Higher interest rates could diminish the appeal of gold as a non-interest-bearing asset, exerting downward pressure on prices.

9. Geopolitical developments and economic indicators continue to drive volatility in gold markets, prompting investors to remain vigilant.

10. Adaptive strategies are essential for investors to navigate evolving market dynamics and capitalize on potential opportunities amidst uncertainty.

GIFT Nifty +27 pts (22420) from last trade 22393 , 

Nikkei +124 pts , 

Hangseng +168 pts , 

Now @6.52am . 

Dow +253.58 pts ,Nsdq +169.30 pts, S&P 

+43.37 pts , Bovespa +448 pts , Ftse +128 pts , Dax +123 pts , Cac +17 pts , Crude @ $82.85 brl (+0.00), Brent @ $87.15 brl (-0.14) , Gold @ 2341.10 (-5.30), Silver $27.255 (+0.01), Euro @ $1.0652, JPY @ $154.81, INR @ 83.375

Today’s Corporate Action

23rd Apr Ex Date

ANUP\u0009

Bonus issue 1:1\u0009 

ASTERDM\u0009

Special Dividend - Rs. - 118.0000

ASTERDM\u0009

Special Dividend\u0009 

BGJL\u0009

E.G.M. \u0009 \u0009 

FORTISMLR

Interim Dividend - Rs. - 40.0000

IIFL\u0009

Right Issue of Equity Shares 

NICCOUCO\u0009

E.G.M. \u0009 \u0009 

SOBME\u0009

Right Issue of Equity Shares 

SWRNASE\u0009

E.G.M. \u0009 \u0009 

VUENOW\u0009

Interim Dividend - Rs. - 0.5000\u0009 \u0009 \u0009 

Today’s Key Results/Board Meetings

23-Apr-24

\u0009 \u0009 \u0009 

360ONE\u0009

Audited Results;Quarterly Results\u0009 

AROGRANITE\u0009

Audited Results\u0009 \u0009 \u0009 

ARTSONEN\u0009

Audited Results;General;Quarterly Results\u0009 

ASHAI\u0009

General\u0009 \u0009 \u0009 \u0009 

ASHOKAMET\u0009

General\u0009 \u0009 \u0009 \u0009 

AXITA\u0009

General;Audited Results;Final Dividend\u0009 

BKMINDST\u0009

Quarterly Results\u0009 \u0009 \u0009 

CHOICEIN\u0009

Increase in Authorised Capital;Issue Of Warrants;Preferential Issue of shares;Rights Issue

CYIENTDLM\u0009

Quarterly Results\u0009 \u0009 \u0009 

GDTRAGN\u0009

General;Preferential Issue of shares\u0009 

HUHTAMAKI\u0009

Quarterly Results\u0009 \u0009 \u0009 

ICICIPRULI\u0009

Audited Results;Final Dividend;Quarterly Results

IIRM\u0009

Quarterly Results\u0009 \u0009 \u0009 

JINDHOT\u0009

Audited Results;Quarterly Results\u0009 

LKPSEC\u0009

Audited Results;Final Dividend\u0009 \u0009 

M&MFIN\u0009

Audited Results;Final Dividend;General\u0009 

MAHEPC\u0009

Audited Results\u0009 \u0009 \u0009 

MCX\u0009

Audited Results;Dividend\u0009 \u0009 

NELCO\u0009

Audited Results;Dividend\u0009 \u0009 

NETLINK\u0009

Audited Results;General\u0009 \u0009 

PHOTOQUP\u0009

General\u0009 \u0009 \u0009 \u0009 

PRITIKAUTO\u0009

General\u0009 \u0009 \u0009 \u0009 

SADBHAV\u0009

General;Preferential Issue of shares\u0009 

SADBHIN\u0009

General\u0009 \u0009 \u0009 \u0009 

TATACONSUM\u0009

Audited Results;Final Dividend;General;Quarterly Results

TATAELXSI\u0009

Audited Results;Final Dividend;Quarterly Results

TILAK\u0009

Right Issue of Equity Shares\u0009 \u0009 

Stock under F&O ban on NSE

23-Apr-24

1 BIOCON

2 HINDCOPPER

3 IDEA

4 PEL

5 SAIL

6 ZEEL

-> SPX +0.87%, Nasdaq +1.11%

-> US equities rebounded on some dip buying post-last week’s sell-off

-> UST 10y yield lost 1 bps to 4.61%

-> Dollar Index steady above 106

-> Oil down 0.1% to $87.18/bbl

-> Earnings a major driver this week, 44% of SPX reports, Tesla later tonight

#StockMarket #banknifty #nifty50

https://play.google.com/store/apps/details?id=com.intelegain.rb

Conference call Replay available in Various speeds !

Researchbytes Events Update

As of 07:27 AM Tuesday 23 April 2024

Can set alert for them at www.researchbytes.com 

9:30 AM Rallis

Dial: +91 22 6280 1141

Weblink: https://tinyurl.com/3yj52687

4:00 PM Mahindra Logist

(Press Release )

Dial: +91 22 6280 1309

Weblink: https://tinyurl.com/msyj25aw

5:00 PM Cyient DLM Ltd

Dial: +91 22 7115 8814 

Weblink: https://tinyurl.com/yvkhjh9f

6:00 PM M&M Fin

Dial: +91 22 6280 1222

Weblink: https://tinyurl.com/9emcukfz

6:30 PM ICICI Prudential

(Investor/Analyst Presentation)

Dial: +91 22 7115 8305

Weblink: https://tinyurl.com/25f5cvch

7:00 PM Tata Elxsi

Dial: +91 22 6280 1194 

Weblink: https://tinyurl.com/yhvy96eh

Tejas Networks : (replay)

https://www.researchbytes.com/webcast.aspx?WID=298656

Epigral Ltd : (replay)

https://www.researchbytes.com/webcast.aspx?WID=298655

Rajratan Global : (replay)

https://www.researchbytes.com/webcast.aspx?WID=298654

Elecon Eng : (replay)

https://www.researchbytes.com/webcast.aspx?WID=298653

Sterling and Wilson Renewable Energy : (replay)

https://www.researchbytes.com/webcast.aspx?WID=298630

HDFC Bank : (replay)

https://www.researchbytes.com/webcast.aspx?WID=298625

Wipro : (replay)

https://www.researchbytes.com/webcast.aspx?WID=298591

HDFC AMC : (replay)

https://www.researchbytes.com/webcast.aspx?WID=298592

CRISIL : (replay)

https://www.researchbytes.com/webcast.aspx?WID=298590

HindZinc : (replay)

https://www.researchbytes.com/webcast.aspx?WID=298573

Results today …

https://www.researchbytes.com/Default.aspx?cc=result

Recent interviews …

https://www.researchbytes.com/Default.aspx?cc=interview

Replays available at www.researchbytes.com

A Reuters report quoting unnamed sources said the markets regulator has found a dozen offshore funds invested in Adani group companies are in violation of disclosure rules and in breach of investment limits. Read more

Reliance Industries, Mahindra Logistics, Tejas Networks, Aditya Birla Money, Tamilnad Mercantile Bank, Persistent Systems, Rajratan Global Wire, Rallis India, Hatsun Agro, Sterling And Wilson Renewable

Reliance Industries 4QFY24 Earnings

Financial Results

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/be27d112-053d-4d9b-8ef5-51f73db76cff.pdf

Press Release

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/202ada3b-b7db-479c-9084-d2573ed29d6a.pdf

Presentation

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/0501df4e-7d64-455d-bbb0-4b2118067e51.pdf

Mahindra Logistics 4QFY24 Earnings

Financial Results

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/9cd3d595-28b4-4f2a-b27a-29d0e3a52e4b.pdf

Press Release

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/f3ccc33a-49c3-4665-8aad-40e9c9ea05ee.pdf

Tejas Networks 4QFY24 Earnings

Financial Results

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/aece03b9-f410-48cf-b549-9ee934d8d9f0.pdf

Presentation

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/8abc14f7-760a-4c4a-9137-1c0bdaff8bd6.pdf

Aditya Birla Money 4QFY24 Earnings

Financial Results

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/63ffc1f1-faf3-4188-87e8-e5fd26f07494.pdf

Tamilnad Mercantile Bank 4QFY24 Earnings

Financial Results

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/a45ff66d-407a-4a38-8d16-8dc974a85bdf.pdf

Presentation

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/e9082d55-2161-48b1-876e-915397f1b648.pdf

Persistent Systems 4QFY24 Earnings

Financial Results

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/c31e378a-1692-410d-9f67-c58579919bcb.pdf

Presentation

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/c994b965-0fb1-43ce-8854-3e8ad422cb1c.pdf

Rajratan Global Wire 4QFY24 Earnings

Financial Results

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/6d7a8f6e-fea8-4b23-b1df-58af6c83984a.pdf

Presentation

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/7271d70b-d539-49af-a75c-24078c7fc1c5.pdf

Rallis India 4QFY24 Earnings

Financial Results

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/91bf33e5-cd17-4511-ad7a-d6dba85534a4.pdf

Hatsun Agro Product 4QFY24 Earnings

Financial Results

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/69b81c3f-c06d-4c3a-810b-71925b4948b8.pdf

Sterling And Wilson Renewable Energy 4QFY24 Earnings

Financial Results

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/529de91a-64da-44ad-9781-3f3705b543a1.pdf

Presentation

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/a32e3f0f-1d63-4112-bf73-b4fd94f2b3a4.pdf 

SCC

Monarch Networth Capital | SWSOLAR | CMP - INR 617 | TP – INR 750 | 52 week High/Low- 647/243

We maintain Buy rating and have revised our TP to INR 750 (previous estimate INR 800). We believe SWSOLAR to lead in the EPC space with strong portfolio of 18GW+ projects in both domestic and international markets.

* SWSOLAR exhibited a strong rebound in financials both on a sequential and YoY basis. After three years of reporting EBITDA losses, company has turned EBITDA positive at INR 540mn in FY24 aided by growing Domestic EPC business. 

* Unexecuted order value has grown 64% in FY24 to INR 81bn showcasing robust future growth prospect. We understand that orders to the tune of 3GW expected in Q4’FY24 has not been received and the same is expected in Q1’FY25. Future orderbook of the company looks promising. 

* The company has reduced its net debt substantially to INR 1.2bn vs. INR 19.7bn in FY23. We expect the company to maintain strong balance sheet going forward along with negative working capital requirements. 

* We have revised our estimate to reflect phasing out of Nigeria and Reliance order as there are delays in order flow. We arrived at the TP of INR 750 at implied PE of 18.3x on EPS of FY26E estimated at INR 41.05. 

Disclaimer- https://bit.ly/39derdz

ADANI: SEBI FINDS ADANI OFFSHORE FUNDS IN-VIOLATION OF SHAREHOLDING DISCLOSURES, BREACH OF INVESTMENT LIMITS. EIGHT OFFSHORE FUNDS HAVE SOUGHT TO SETTLE CHARGES VIA PENALTIES WITHOUT ADMISSION OF GUILT- SOURCES - RTRS

ADANI ENT: REUTERS SOURCES SAID THAT VIOLATION IN ADANI ENT, HOWEVER DUE TO INDIRECT HOLDING OF FUNDS IN ALL GROUP COMPANIES. 

(ACCORDING TO SOURCES, NO DIRECT NOTICE TO ADANI ENT BUT NOTICE SENT TO OFFSHORE FUNDS)

🔹INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 22-04-2024 :

FIIS F & O : RS. CRS. : 

TOTAL NET SELL : -11257 😭

INDEX FUT. : -491 

INDEX OPT. : -14942

STOCK FUT. : +3415

STOCK OPT. : +761

🔹SEC. IN F&O BAN FOR, 23 APRIL, 2024 :

1. \u0009BIOCON 2. \u0009HINDCOPPER 3. \u0009IDEA 4. PEL 5. SAIL 6.\u0009 ZEEL

ADDITION : HINDCOPPER

DELETION : BALRAMCHIN, BANDHANBNK, EXIDEIND, METROPOLIS

🔹INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 22-APRIL-2024 : 

Instl. Investors EQUITY Cash Trades PROV. - 22/04/2024 : Rs. CRS. : 

FIIS : SELL -2,915 (13,190-16,105) 😥

DIIS : BUY +3,543 (11,855-8,312) 😃

BSE SENSEX : +560 (73,649)🔼 

NSE NIFTY : +189 (22,336)🔼

BSE MIDCAP. : +370 (40,374)🔼

BSE SMLCAP. : +574 (46,008)🔼

B. CRUDE : $ 86.75 🔽🙂

GOLD: $ 2,335=INR 72,000(10gr)🔽😭

SILVER : RS. 85,500 (kg)(5pm)🔽😥

FOREX : RS. $ 83.37 🔼 🙂

7.10% NEW GOI ‘34 : 7.1355% (99.7450)🔽🙂

7.18% GOI ‘33: 7.1890%(99.9250)🔽😊

7.18% GOI ‘37: 7.2279% (99.58)🔽🙂

Pepsico, Inc. (Pre market) (Sector - FMCG) 

GE Aerospace (Pre market) (Sector - Defense) 

Danaher Corporation (Pre market) (Sector - Healthcare) 

Philip Morris International Inc (Pre market) (Sector - FMCG) 

RTX Corporation (Pre market) (Sector - Defense) 

NextEra Energy, Inc. (Pre market) (Sector - Energy) 

United Parcel Service, Inc. (Pre market) (Sector - Logistics) 

Lockheed Martin Corporation (Pre market) (Sector - Defense) 

Fiserv, Inc. (Pre market) (Sector - Financials) 

Sherwin-Williams Company (The) (Pre market) (Sector - Chemicals) 

Freeport-McMoran, Inc. (Pre market) (Sector - Metals) 

Spotify Technology S.A. (Pre market) (Sector - Technology) 

General Motors Company (Pre market) (Sector - Automobiles) 

Kimberly-Clark Corporation (Pre market) (Sector - FMCG) 

MSCI Inc. (Pre market) (Sector - Financials) 

Halliburton Company (Pre market) (Sector - Energy) 

PulteGroup, Inc. (Pre market) (Sector - Infrastructure) 

W.R. Berkley Corporation (Pre market) (Sector - Financials) 

Quest Diagnostics Incorporated (Pre market) (Sector - Healthcare) 

Pentair plc. (Pre market) (Sector – Capital Goods) 

LKQ Corporation (Pre market) (Sector - Automobiles)

Tesla, Inc. (Post market) (Sector - Automobiles) 

Visa Inc. (Post market) (Sector - Technology) 

Texas Instruments Incorporated (Post market) (Sector - Technology) 

Chubb Limited (Post market) (Sector - Financials) 

Canadian National Railway Company (Post market) (Sector - Logistics) 

CoStar Group, Inc. (Post market) (Sector - Technology) 

Baker Hughes Company (Post market) (Sector - Energy) 

Equity Residential (Post market) (Sector - Infrastructure) 

Veralto Corp. (Post market) (Sector - Industrials) 

Steel Dynamics, Inc. (Post market) (Sector - Metals) 

Seagate Technology Holdings PLC (Post market) (Sector - Technology) 

IDEX Corporation (Post market) (Sector – Capital Goods) 

EQT Corporation (Post market) (Sector - Energy) 

Enphase Energy, Inc. (Post market) (Sector - Energy) 

Manhattan Associates, Inc. (Post market) (Sector - Technology)

Novartis AG (Tentative) (Sector - Healthcare) 

Banco Santander, S.A. (Tentative) (Sector - Financials) 

America Movil, S.A.B. de C.V. (Tentative) (Sector - Technology) 

NVR, Inc. (Tentative) (Sector - Infrastructure)

10:30 INDIA HSBC Manufacturing PMI (Expected: 58.3 versus Previous: 59.1)

13:00 EURO German Manufacturing PMI (Expected: 42.8 versus Previous: 41.9)

14:00 U.K. Flash Manufacturing PMI (Expected: 50.3 versus Previous: 50.3)

19:15 U.S. Flash Manufacturing PMI (Expected: 52.0 versus Previous: 51.9)

19:15 U.S. Flash Service PMI (Expected: 52.0 versus Previous: 51.7)

19:30 U.S. New Home Sales (Expected: 668k versus Previous: 662k)

Tata Power Delhi Distribution (Tata Power-DDL) on Monday announced the appointment of Gajanan Sampatrao Kale as the company’s new Chief Executive Officer (CEO), with effect from April 19, 2024. Read more

Shares of HDFC Bank slipped over 1.2 per cent, after reporting its March quarter earnings over the weekend, despite analysts remaining bullish on the stock. The stock settled at ₹1,512.30 on the BSE, after beginning on a positive note the BSE. On the NSE, shares edged down 1.10 per cent at ₹1,514.35. Read more

Rallis India, a Tata Group company, has reported net loss of ₹21 crore in March quarter against loss of ₹68 crore logged in same period last year, due to weak demand and lower exports. Read more

Vodafone Idea’s ₹18,000-crore follow-on public offering, the largest to date, sailed through on Monday, with bids from all categories of investors. Read more

Tamilnad Mercantile Bank (TMB) has reported a flat net profit for the March 2024 quarter, while the profit has increased 4 per cent for FY24. The board declared a final dividend of ₹10 per equity share of the face value ₹10 each (100 per cent) for FY24. Read more

Indian Overseas Bank (IOB) is planning to raise up to ₹5,000 crore in FY25 in a bid to meet SEBI’s minimum public shareholding (MPS) norm. 

As per the Securities Contracts (Regulation) Rules, 2018, every listed company needs to have at least 25 per cent MPS.

As at March-end 2024, Government of India’s shareholding in the Chennai-headquartered public sector bank stood at 96.38 per cent. Read more

Sify Ltd, the Chennai-based ICT service and solution provider, reported a consolidated net profit of ₹3.8 crore for the fourth quarter ended March 31, 2024, as against ₹3.4 crore in the same quarter last year. Revenue was up 8 per cent to ₹963 crore (₹886 crore). Read more

The amalgamated entity following the merger of erstwhile HDFC with HDFC Bank effective July 2023, is a “completely new organisation” and cannot be compared to either of the two pre-existing lenders, HDFC Bank MD and CEO Sashidhar Jagdishan said in an analyst call. Read more

Reliance Jio Platforms reported a 12 per cent increase in its consolidated net profit for the fourth quarter ended March 31, 2024 to ₹5,583 crore compared to ₹4,984 crore in the same quarter last year. Revenue from operations was up 13.4 per cent to ₹28,871 crore compared to ₹25,465 crore. Read more

Reliance Industries posted a consolidated net profit of ₹18,951 crore in the March quarter, down 1.8 per cent on year while revenue rose 11.1 per cent on year to ₹2.4 lakh crore, with double digit growth in its oils-to-chemicals and consumer business. Read more

The upmove in Whirlpool of India has gained momentum. The stock has surged over 5 per cent on Monday, decisively breaking above the key resistance level of ₹1,460. Support will now be in the ₹1,460-₹1,455 region. Read more