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Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 0.20% higher at 18,214.5, signalling that Dalal Street was headed for positive start on Friday.
Japanese markets were trading higher with the Nikkei 225 index rising 1.04% and the Topix gaining 0.48%. Chinese markets were trading lower as technology-related stocks slumped. The Hang Seng dropped 1.35% and the CSI 300 index was down 0.49%.
Indian rupee fell 22 paise to 82.6 against the US dollar on Thursday.
Nexus Select Trust, a leading real estate investment trust is going to make a debut on the bourses on May 19. The issue price has been fixed at Rs 100 per unit.
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NTPC, Power Grid Corporation of India, JSW Steel, Punjab National Bank, Bandhan Bank, Zomato, Delhivery, Glenmark Pharmaceuticals, Muthoot Finance, Alkem Laboratories, JK Lakshmi Cement, Crompton Greaves Consumer Electricals, Motherson Sumi Wiring India, IRB Infrastructure Developers, Abbott India, Narayana Hrudayalaya, EPL, Route Mobile, Rategain Travel Technologies, VA Tech Wabag, Star Cement, Sun TV Network, Elgi Equipments, Cochin Shipyard, Vinati Organics, DB Corp, Saregama India, Arvind Smartspaces, Abans Holdings, Aditya Vision, Dalmia Bharat Sugar and Industries, Dilip Buildcon, DCX Systems, Gati, Godrej Industries, Hindustan Copper, India Infrastructure Trust, Kirloskar Oil Engines, Max Ventures And Industries, Mayur Uniquoters, Minda Corporation, NLC India, RPSG Ventures, Share India Securities, TAJGVK Hotels & Resorts, Ultramarine & Pigments, Valiant Organics, Waaree Renewable Technologies, Welspun Enterprises, WPIL, and West Coast Paper Mills will report their quarterly earnings.
Stocks in News Today
InterGlobe Aviation (IndiGo): The company’s consolidated revenue rose 77% YoY to Rs 14,160.60 crore in Q4FY23. Ebitdar rose 1,627% YoY to Rs 2,966.50 crore in Q4FY23. Consolidated net profit stood at Rs 919.20 crore in Q4FY23 as against Rs 1,681.80 crore loss in the year-ago period.
Tata Elxsi: The company said its revenue was up 2.47% QoQ at Rs 837.92 crore in Q4FY23. EBIT was up 1.43% QoQ at Rs 228.65 crore in Q4FY23. Net profit was up 3.51% QoQ at Rs 201.52 crore in Q4FY23. The board has approved final dividend of Rs 60.60 per share for the financial year 2022-23.
UNO Minda: The company’s consolidated revenue was up 19.62% YoY at Rs 2,888.97 crore in Q4FY23. Ebitda up 15.89% YoY at Rs 319.28 crore in the quarter under review. Consolidated net profit was up 24.25% at Rs 194.06 crore in Q4FY23. The board has recommended a final dividend of Rs 1 per share for the fiscal 2022-23. It also approved raising up to Rs 1,500 crore through issue of debt securities via public or private placement. Further, the board also approved investing additional €1.1 million in wholly owned subsidiary Global Mazinkert.
PI Industries: The company’s consolidated revenue was up 12.21% YoY at Rs 1,565.60 crore in Q4FY23. Ebitda was up 12.39% YoY at Rs 342.8 crore in Q4FY23. Consolidated net profit was up 37.28% YoY at Rs 280.60 crore in Q4FY23. The board recommended final dividend of Rs 5.50 per share.
United Spirits: The liquor maker said that its consolidated revenue was down 1.3% YoY at Rs 2,502.80 crore in Q4FY23. Ebitda was down 45.46% YoY at Rs 235.50 crore in Q4FY23. Consolidated net profit was down 42.44% YoY at Rs 102.80 crore in Q4FY23.
PNB Housing Finance: The mortgage lender said its consolidated interest income was up 22.3% YoY at Rs 1,589.23 crore in Q4FY23. Consolidated net profit was up 64.73% YoY at Rs 279.28 crore in Q4FY23. Net NPA ratio stood at 2.76% in the reported quarter as against 3.22% in the preceding quarter.
Container Corporation of India: The company said its consolidated revenue increased by 6% YoY to Rs 2,184.33 crore in Q4FY23. Ebitda rose 8% YoY to Rs 451 crore in the reported quarter. Consolidated net profit climbed by 8% to Rs 279.40 crore in Q4FY23. The company declared a final dividend of Rs 2 per share for the fiscal 2023.
Bata India: The footwear manufacturer said its consolidated revenue was up 17.04% YoY at Rs 778.59 crore in Q4FY23. Ebitda rose 12.29% YoY to Rs 182.07 crore in Q4FY23. Consolidated net profit was up 4.22% YoY at Rs 65.62 crore in Q4FY23. The board declared a final dividend of Rs 13.50 per share.
Gland Pharma: The company registered a consolidated revenue of Rs 785 crore in Q4FY23, down 29% YoY. Ebitda fell 52% YoY to Rs 168 crore in Q4FY23. Consolidated net profit was down 72% YoY to Rs 79 crore in Q4FY23. The company recorded an exceptional cost of Rs 56.46 crore during the quarter under review.
Krishna Institute of Medical Sciences: The company’s consolidated revenue was up 54.68% YoY at Rs 575.93 crore in Q4FY23. Ebitda up 43.7% YoY at Rs 163.23 crore in Q4FY23. Consolidated net profit was up 15.59% YoY at Rs 93.27 crore in Q4FY23. Vikas Maheshwari has resigned from the position of chief financial officer of the company, effective close of business hours as on May 31. A Rajender, finance controller will discharge the functions of CFO in the interim.
PTC India Financial Services: The company’s consolidated interest income was down 16.19% YoY at Rs 186.27 crore in Q4FY23. Consolidated net profit was up 45.75% YoY at Rs 36.41 crore in Q4FY23. The board recommended a dividend of Rs 1 per share for the fiscal 2023.
Universal Cables: The company said its Consolidated revenue was down 1.91% YoY at Rs 582.87 crore in Q4FY23. Ebitda was up 8.33% YoY at Rs 51.77 crore in Q4FY23. Consolidated net profit was up 31.94% YoY at Rs 41.06 crore in Q4FY23. The company announced a dividend of Rs 3 per share for the financial year 2022-23.
Gulf Oil Lubricants India: The company’s consolidated revenue was up 23.97% YoY at Rs 792.05 crore in Q4FY23. Ebitda fell 1.74% YoY at Rs 87.54 crore in Q4FY23. Consolidated net profit was down 1.91% YoY at Rs 62.16 crore in Q4FY23. The board approved a final dividend of Rs 25 per share for the fiscal 2023.
Pfizer: The company initiated voluntary recall of all batches of Magnex, Magnex Forte, Zosyn and Magnamycin after an out-of-specification was observed at the manufacturing facility of its contract manufacturer for the recalled products, Astral SteriTech. The recall will have an impact on the company’s revenue and profitability.
Nazara Technologies: Nodwin Gaming, a subsidiary of the company, signed definitive and binding agreements to raise $28 million (Rs 232 crore) from existing investors—Nazara, Krafton and JetSynthesys—and new ones.
Vedant Fashions: Promoter Ravi Modi Family Trust will exercise the oversubscription option in the ongoing offer for sale after the non-retail investors placed bids for 223.80% of the portion reserved for them on the first day. The promoter will offload 2.88% additional stake under the greenshoe option.
Rail Vikas Nigam: The company has formed a joint venture, Indore MMLP Pvt., with National Highways Logistics Management and Madhya Pradesh Industrial Development Corporation to build multi modal logistics parks under the Bharatmala Project. RVNL is receiving Rs 77.62 crore for rail connectivity, NHLML is receiving Rs 186.97 crore towards MMLP land, road connectivity and other works, and MPIDC is receiving Rs 88.68 crore for MMLP land.
Wipro: The IT services and consulting company announced a five-year business partnership with ServiceNow to drive business transformation, overcome business challenges, and deliver greater value. The agreement is expected to help accelerate Wipro’s goal of building a $1 billion business with ServiceNow by the end of 2026.
South Indian Bank: The lender has hiked marginal cost of funds based lending rates across tenures in the range of 5-10 basis points, effective May 20.
Rattanindia Enterprises: The company has appointed Vinu Balwant Saini has chief financial officer, with effect from May 20.