Good Morning!
The GIFT Nifty, an early indicator for the benchmark Nifty 50, is down 0.20% at 24,315.5 as of 6:23 a.m. Equity-index futures for the US (S&P 500) was up 1.05%, while Europe (Euro Stoxx 50) ended 0.49% lower.
Indian Market Recap
Indian equity benchmarks halted a three-day gaining streak. The NSE Nifty 50 fell 0.8% to 24,378.10 and the BSE Sensex fell 0.9% to 78,516.49. The declines in the benchmark indices were led by HDFC Bank and ICICI Bank.
Broader markets outperformed the benchmarks. The Nifty Midcap 150 rose over 0.2% and closed higher for a second straight session, led by gains in IREDA and Exide Industries. The Nifty Smallcap 250 gained over 1%, also ending in the green for the second day, with Amara Raja rising over 16%.
US Market Recap
The S&P 500 surged 1.1% to a record on Wednesday, marking its best month since 2020, while the Nasdaq 100 rose 1.7% as US President Donald Trump announced ceasefire with Iran and robust earnings. US chipmakers advanced for a 16th straight day, the longest-ever advance, Bloomberg reported.
Asian Market Update
Asian markets advanced on Thursday after Wall Street jumped. Japan and South Korea stocks touched a record high Thursday. Japan’s Nikkei 225 was at an all-time intraday high of 60,013.98, led by strong gains in tech stocks. South Korea’s Kospi reached an all-time intraday high of 6,538.72, rising 1.75%, while the small-cap Kosdaq was 0.58% up, CNBC reported.
Commodity Check
Oil surged for the fourth day amid uncertainty over US-Iran War and Strait of Hormuz disruption. Brent was trading near $102 a barrel after climbing nearly 13% in the last three sessions, while West Texas Intermediate was at $93. Gold slightly changed with the bullion trading at $4,725 an ounce in early trading, after adding 0.4%, Bloomberg reported.
Earnings In Focus
Aditya Birla Sunlife AMC, Adani Energy Solutions, Bluestone, Choice Intl, CIE Automotive India, Cyient Ltd, Himadri Speciality Chemicals Ltd, IEX, Infosys, LTM, Mahindra Logistics, Sterling and Wilson Renewable Energy Limited, Tata Capital Limited, Union Bank of India, and UTI AMC.
ALSO READ: Infosys Q4 Preview: FY27 Guidance In Focus As Seasonal Weakness Weighs On Growth
Earnings post markets
SBI Life Insurance (Q4, YoY)
- Net premium income up 16% at Rs 27,684 crore versus Rs 23,861 crore.
- Net profit down 1.1% at Rs 805 crore versus Rs 814 crore.
Trent (Q4, YoY)
- Revenue up 20.2% at Rs 4,937 crore versus Rs 4,106 crore.
- Ebitda up 40% at Rs 919 crore versus Rs 656 crore
- Ebitda margin up 260 bps at 18.6% versus 16.0%
- Net profit up 30% at Rs 455 crore versus Rs 350 crore
Note: The board declared a dividend of Rs 6 per share, approved a 1:2 bonus issue, and sanctioned a rights issue to raise Rs 2,500 crore.
Tata Communications (Q4, Cons YoY)
- Revenue up 9.4% at Rs 6,554 crore versus Rs 5,990 crore.
- Ebitda up 14.4% at Rs 1,284 crore versus Rs 1,122 crore.
- Ebitda margin up 85 bps at 19.58% versus 18.73%.
- Net profit down 74.7% at Rs 263 crore versus Rs 1,040.5 crore.
Note: The board has recommended a final dividend of Rs 17.5 per share.
L&T Technology Services (Q4, Cons QoQ)
- Revenue up 2.5% at Rs 2,858 crore versus Rs 2,787 crore.
- Ebit up 5.5% at Rs 435 crore versus Rs 412 crore.
- Ebit margin up 40 bps at 15.2% versus 14.8%.
- Net profit up 9.7% at Rs 332 crore versus Rs 303 crore.
Note: The board declared a final dividend of Rs 40 per share and appointed Rajeev Gupta as Executive Director and CFO for a 3-year term.
Delta Corp (Q4, Cons YoY)
- Revenue down 11.7% at Rs 161 crore versus Rs 183 crore.
- Ebitda down 34.8% at Rs 27.7 crore versus Rs 42.5 crore.
- Ebitda margin down 600 bps at 17.2% versus 23.2%.
- Net profit down 90% at Rs 16.5 crore versus Rs 165 crore.
Note: The massive drop in profit is due to a high base effect, as the company recorded a one-time gain of Rs 212 crore in Q4 of the previous year.
Oracle Financial Services (Q4, Cons QoQ)
- Revenue up 5.1% at Rs 2,065 crore versus Rs 1,966 crore.
- Ebit up 29.5% at Rs 1,041 crore versus Rs 804 crore.
- Ebit margin up 950 bps at 50.4% versus 40.9%.
- Net profit up 38.1% at Rs 842 crore versus Rs 610 crore.
Note: The board declared a 2nd interim dividend of Rs 270 per share.
ALSO READ: Trade Setup For April 23: Nifty Support Slips To 24,200 As Bulls Step Back After Three-Day Rally
Stocks In News
- Bharat Electronics: The defense public sector undertaking has secured multiple orders aggregating to Rs 569 crore for FY27.
- Infosys: The IT major has entered into a strategic pact with OpenAI to drive enterprise transformation by combining OpenAI’s technology with the Infosys Topaz Fabric.
- Texmaco Rail: The company has secured a new order worth Rs 7.7 crore from the South Western Railway division.
- Enviro Infra Engineers: The company has acquired a 49% stake in PRA Bihar Bess for an investment of Rs 15.5 crore.
- Lumax Auto Technologies: The NCLT has reserved its order regarding the Lumax-IAC merger following the completion of the second-motion hearing.
- Ind Swift Laboratories: The company reports that HCP Investments has offloaded a 7.5% stake in the firm.
- JSW Dulux (formerly Akzo Nobel): The company has received a favorable assessment, resulting in a massive reduction of its pending tax demand to Rs 15 crore from the initial Rs 101 crore.
- BlackBuck: The Income Tax department has allowed the company’s ESOP expense claims, setting aside a previous disallowance of Rs 106.6 crore.
- Paisalo Digital: The company’s board will meet on May 10 to consider the issuance of Non-Convertible Debentures (NCDs).
- Omaxe: The real estate developer has successfully received the RERA certificate for its upcoming Punjab-based project, ‘Omaxe Royal Nest’.
- Container Corp: The company has appointed Vivek Gupta as its new Chief Financial Officer and Director (Finance) for a 5-year term, effective April 21.
- Reliance Communications: The CBI conducted search and seizure operations at the company’s Mumbai office, confiscating records related to a historical bond issue to LIC.
- Exicom Tele-Systems: The company’s stake in its Dutch arm, Exicom BV, has been diluted to 92.23% following the conversion of $5.5 million worth of Optionally Convertible Debentures (OCDs) into equity.
- Persistent Systems: The NCLT Mumbai bench has officially sanctioned the company’s scheme of merger with Arrka Infosec.
- Jio Financial Services: The company has formed a 50:50 joint venture with Allianz Europe to offer general and health insurance in India, aiming to support the ‘Insurance for All by 2047’ initiative. Operations will begin post regulatory approvals.
- Arvind: The company has incorporated a new subsidiary, Arvind Atelier, in the UAE after receiving a license certificate from the Sharjah Airport International Free (SAIF) Zone.
- City Union Bank: The bank continues its geographic expansion, opening 5 new branches across Uttar Pradesh, Gujarat, and Rajasthan.
- Sammaan Capital: Both the BSE and NSE have cleared the company’s proposed demerger scheme involving Sammaan Finserve.
- VA Tech Wabag: The company has incorporated a new subsidiary named North Chennai Tru to manage local project operations.
- Capri Global: The company’s board is scheduled to meet on April 30 to discuss potentially increasing its overall borrowing limit.
- Eveready Industries: The company has commissioned a new alkaline battery manufacturing facility in Jammu with an annual capacity of 360 million batteries, following an investment of Rs 200 crore.
- Innovision: The company has bagged a work order worth Rs 31 crore from the National Highways Authority of India (NHAI).
- Studds Accessories: The company’s board has revised its international expansion strategy, approving the incorporation of a subsidiary in Italy instead of the previously planned entity in Spain.
- Bandhan Bank: The Reserve Bank of India (RBI) has approved the appointment of Debasish Panda as the Part-Time Chairman of the bank for a tenure of three years.
- Alembic Pharma: The pharmaceutical firm has expanded its Southeast Asian presence by incorporating a new subsidiary in the Philippines.
- GNG Electronics: The company clarified that its credit rating has been upgraded to ‘BBB’ by CARE Ratings, and emphasized that the promoter group’s KKOC operations run entirely separate from the company’s core business.
- Lemon Tree Hotels: The hospitality chain has signed agreements for two new properties—a 78-room hotel in Raipur and a 60-room hotel in Jalandhar—both to be managed by its arm, Carnation Hotels.
- Reliance Industries: The company reports that its subsidiary, Jiostar, has officially merged with another group entity, IndiaCast.
- Unimech Aerospace: The company and its subsidiary, Innomech, are set to acquire Hobel Bellows for Rs 450 crore. Unimech will hold a 24% stake, while Innomech will hold the remaining 76%.
- Adani Green: The company’s arm, Adani Green Energy Twenty Six A, has operationalized a 292 MW solar project in Gujarat, taking the group’s total operational renewable capacity to 19,585.8 MW.
Bulk & Block Deals
Blackbuck: Quant Mutual Fund bought 9.20 lakh at Rs. 620 per share.
Apollo Pipes: Ace Infracity Developers bought 3 lakh shares at Rs. 472.38 per share.
Shringar House of Mangalsutra: Sundar Iyer bought 5 lakh shares at Rs. 208 per share, Wiinance Financial Services sold 6 lakh shares at Rs. 202.07 per share, Artkumbh Ventures sold 6.45 lakh shares at Rs. 201.94 per share.
Board Meetings
Balrampur Chini Mills – Fund raising
Rolex rings – Buyback
SPML Infra – Fund raising
Cyient – To consider Fund raising
Shares to exit anchor Lock-in
Shadowfax Technologies: 3 month lock-in, 35 million shares, 6% of Outstanding Shares.
List of securities shortlisted in Short – Term ASM Framework Stage: JNK India
Price Band change from 20% to 10%: Anondita Medicare, Man Industries (India)
F&O Cues
Nifty April futures is down 0.81% to 24,385.00 at a premium of 7 points.
Nifty Options 28th Apr Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 23,000.
Currency Check
The rupee weakened for the third straight session, losing 39 paise to settle at 93.83 (provisional) against the US dollar on Wednesday as uncertainty on US-Iran peace talks eroded hopes of easing West Asia conflict and set crude oil prices on fire.
Securities in ban period: SAIL
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