← Go back May 05, 2023
TCS Launches TCS Generative AI In Partnership With Google CloudTCS Generative AI will leverage Google Cloud's AI services to design and deploy business solutions for clients.TCS has over 50,000 associates trained in AI, with plans to earn 40,000 skill badges on Google Cloud Generative AI within the year, to support the anticipated demand for its new offering.TCS is currently working with clients in multiple sectors to explore how generative AI can be used to deliver value in their specific business contexts.Source: Exchange filingSom Distilleries Ties-Up With Carlsberg India For An Odisha PlantCarlsberg India will partly utilise Som Distilleries' Odisha plant to produce a range of beverages and popular brands from the former's portfolio.Capacity utilisation will improve after the tie-up as the capacity expansion at Som's Odisha plant is expected to be completed by June 2023. Source: Exchange filing !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rEuropean Markets Trade MixedStocks At 52-Week High Intraday !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rNifty 500 stocks trading at a 52-week low, intraday. !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rMarcellus Investment Managers' Market Outlook & Top: Talking Point Stocks In Focus: NTPC, JSW Steel, Glenmark Pharma, Balaji Amines Sensex, Nifty Advance As Adani Group Stocks Lead; Private Banks, NBFCs Decline: Midday Market Indian equity benchmarks advanced after opening lower and held on to gains past midday on Monday. I.T., metal and pharma sectors advanced, whereas private banks and non-banking financial companies shares declined with ICICI Bank, HDFC twins leading declines. Adani Group stocks, on the other hand, led advances, along with Infosys and ITC. Most Asian shares advanced and U.S. stock futures were largely flat as uncertainty over U.S. talks to avoid a debt default cast a shadow over markets. Australian equities declined while Japanese stocks advanced. Stocks are primed to drop if the U.S. fails to raise the debt limit and delays government payments. The S&P 500’s drop on Friday halted a two-day rally as it failed to stay above the closely watched level of 4,200. As of 1:03 p.m., the S&P BSE Sensex Index was up 154 points or 0.25% at 61,884.02 while the NSE Nifty 50 Index was higher by 82.85 points or 0.46% at 18,286.25.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rHDFC Bank Ltd., ICICI Bank Ltd., HDFC Ltd., Axis Bank Ltd., and Hindustan Unilever Ltd., and were negatively contributing to the change in the Nifty 50 Index. Whereas, Adani Enterprises Ltd., Infosys Ltd., Adani Ports and SEZ Ltd., ITC Ltd., and TCS Ltd. were positively adding to the change.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rAll Adani Group company stocks advanced over 5% in trad. !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rThe broader markets indices were trading higher; the S&P BSE MidCap Index was up 0.38%, whereas S&P BSE SmallCap Index was higher by 0.37%.Sixteen out of the 19 sectors compiled by BSE advanced, while S&P BSE Financial Services, S&P BSE Bankex and S&P BSE Telecommunication declined. The market breadth was split between the buyers and the sellers. About 1,711 stocks rose 1,752 declined, and 191 remained unchanged on the BSE.Delhivery Shares Gain As Jefferies Maintains 'Buy,' Remains Positive On B2B Growth ProspectsShares of Delhivery Ltd. rose after falling amid volatility after the company's net losses widened year-on-year in the fourth quarter due to a 10% fall in sales and weakness in the cross-border services business.However, Jefferies believes that after the acquisition of SpotOn, Delhivery's business to business growth prospects and the company's operating leverage, low e-commerce penetration are underestimated. The brokerage maintains a 'buy' rating with a price target of Rs 570 apiece, implying a 58% upside over the next 12 months. As per Jefferies, the current prices don't factor in at least 10% excess parcel growth that could be seen in the next three to five years. However, it does consider over 30% growth seen in the past. Furthermore, company's management is beginning to deliver on its commentary of reducing losses despite less than 20% sales growth, says the brokerage. Delhivery Q4 FY23 (Consolidated, YoY) The logistics company's consolidated net loss stood at Rs 159 crore in the quarter ended March, as against a Rs 120-crore loss over the same period last year, according to its exchange filing. That compares with a consensus estimate of Rs 174 crore loss by Bloomberg.The cross-border services business was weak despite robust volume due to failing global yields in both air and ocean freight, and volume impact of the Chinese new year holidays, the company said in a release.The company said its adjusted Ebitda turned positive to Rs 6 crore in the quarter, as compared with a Rs 67 crore loss in the same period last year.As per Jefferies the Ebita was positive as gross profit was better and other expenses were lower, for the said quarter. “Critical leading indicators like service precision, network speed and delivery quality parameters are at all-time high levels and are driving greater customer confidence and share of wallet growth," Sahil Barua, managing director and chief executive officer at Delhivery, said in a statement.Delhivery Q4 (Consolidated, YoY)Revenue fell 10% to Rs 1,860 crore (Bloomberg estimate: Rs 1,960 crore)Ebitda fell 79% to Rs 13.4 crore Vs Rs 63.25 crore (Bloomberg estimate: Rs 42 crore loss)Ebitda margin stood at 0.7% vs 3.1%Net loss stood at Rs 159 crore (Bloomberg estimate: Rs 174 crore loss)Jefferies View On Delhivery Maintains a 'buy' rating with a price target of Rs 570 apiece, implying a 58% upside over the next 12 months. Company maintains leadership position in the express parcel segment and realised market share gains in the fourth quarter. Bokerage's estimates factor in compound annual growth rate of 19% for Delhivery, medium-term. This, out of the 15% growth estimated for the business-to-consumer industry.The business volumes of the lately acquired SpotOn were down 20% year-on-year, however the brokerage says that it has bottomed out in the third quarter of the fiscal 2023, thus registering a sequential growth of 23% in the quarter ended March 31, 2023. Brokerage expects business to consumer segment's mix pegged at 60%, as compared to 40% contribution from the business to business segment. Cost tightening can lead to positive Ebitda surprise, says the brokerage. Company's fixed cost leverage should support the margin turnaround, it adds. The stock has traded at 3.9 times enterprise's value-to-sales (EV/Sales) since its IPO and it is currently at 2.6 times FY25E. Volume and margin recovery could result in re-rating the stock.Jefferies expects 25% revenue CAGR in the next three years. Company's 60% clients are large corporates and balance are MSMEs, which will aid the margin profile, says the brokerage.Shares of Delhivery Ltd. gained 1.02% to Rs 365.05 apiece, as of 12:17 p.m., in trade on Monday compared to 0.65% advance in the benchmark, NSE Nifty 50 Index.The stock declined as much as 3.67% intraday before recovering, falling the most in over two weeks since May 5, 2023. The relative strength index was at 55.4.Out of the 21 analysts tracking the company, 14 maintain a 'buy' rating, five recommend a 'hold' and two suggest to 'sell' the stock, as per the Bloomberg data. The average calculated from the 12-month price target given by analysts implies a potential upside of 15.8%.Source: Bloomberg, Brokerage note, Exchange filing!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rNarayana Hrudayalaya Jumps The Most In Six Months As Q4 Profit, Revenue Beat EstimatesShares of Narayana Hrudayalaya Ltd. surged the most in more than six months after the company posted better-than-expected net profit and revenue in the fourth quarter ended March.The net profit surged 1.5 times year-on-year to Rs 173 crore, compared to a Bloomberg estimate of Rs 157 crore, according to an exchange filing. Revenue gained 30% to Rs 1,222 crore, compared to a Bloomberg estimate of Rs 1,116 crore.Narayana Hrudalaya Q4 FY23 (Consolidated, YoY)Revenue up 30% at Rs 1,222 crore (Bloomberg estimate: Rs 1,116 crore)Ebitda up 58% to Rs 276 crore (Bloomberg estimate: Rs 258 crore)Ebitda margin at 22.6% vs 18.6% (Bloomberg estimate: 23.1%)Net profit up 1.5 times to Rs 173 crore (Bloomberg estimate: Rs 157 crore)The company will pay final dividend of Rs 2.50 per share for the fiscal 2023, with record date fixed as July 7. The board approved raising Rs 300 crore via non-convertible debentures.The stock was trading up 7.37% at Rs 830.1 per share compared with a 0.51% gain in benchmark Nifty 50 as of 11:03 a.m.Intraday, the stock climbed 10.72%- the most since Nov. 10, 2022.Total traded quantity stood at 24.1 times the 30-day average volume. Relative strength index stood at 71, indicating that the stock may be overbought.Of the 10 analysts tracking the stock, eight maintained 'buy', one suggested 'hold' while one recommended 'sell', according to Bloomberg. The average of consensus price target implies a potential upside of 15.3% over the next 12 months.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rAdani Group Company Stocks Advance !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rRupee Weakens Against The U.S. Dollar!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rGlenmark Pharmaceuticals Q4 Results: Shares Decline After Net LossShares of Glenmark Pharmaceuticals were trading lower after the drug maker swung into a net loss in the fourth quarter ended March. It reported a net loss of Rs 428 crore compared with a net profit of Rs 156 crore a year ago, according to a stock exchange filing. Revenue went up 12% to Rs 3,374 crore in January-March.Glenmark Pharmaceuticals Q4 FY23 (Consolidated, YoY)Revenue up 12% at Rs 3,374 crore (Bloomberg estimate: Rs 3,331 crore)Ebitda up 31% to Rs 605 crore (Bloomberg estimate: Rs 604 crore)Margins at 17.9% Vs 15.3% (Bloomberg estimate: 18.1%)Net loss of Rs 428 crore vs net profit of Rs 156 crore (Bloomberg estimate: Rs 276 crore profit)The board recommended a dividend of Rs 2.50 per share for the fiscal 2023. The company reported an exceptional loss of Rs 799.73 crore during the quarter under review.Shares of Glenmark Pharmaceuticals were trading lower after the drug maker swung into a net loss in the fourth quarter ended March.It reported a net loss of Rs 428 crore compared with a net profit of Rs 156 crore a year ago, according to a stock exchange filing. Revenue went up 12% to Rs 3,374 crore in January-March.The scrip was down 5.49% to Rs 590 compared to a 0.22% gain in benchmark Nifty 50 as of 10:07 a.m.Total traded quantity so far in the day stood at 2.8 times the 30-day average volume. Of the 18 analysts tracking the stock, nine maintained 'buy', seven analysts recommended 'hold', while two analysts suggested 'sell', according to Bloomberg data. The average of consensus price target implies a potential downside of 13.2% over the next 12 months. !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rCochin Shipyard Fell The Most In 38 Months As Q4 Revenue, Profit Misses EstimatesShares of Cochin Shipyard Ltd. fell the most in 38 months after the shipbuilding company's fourth-quarter revenue and profit missed estimates from a wide margin.The company's revenue fell by 50.51% year-on-year to Rs 600.09 crore in the fourth quarter. This compares with the revenue of the same period in the previous fiscal, which stands at Rs 1,212.45 crore, according to its exchange filing. The consensus of analyst estimates, pooled by Bloomberg expected revenue at Rs 802 crore.It reported lower net profit, down 85.67% year-on-year to Rs 39.34 crore compared with Rs 274.62 crore, in the same period a year back. It missed the consensus analyst estimates pooled by Bloomberg, which stood at Rs 128.30 crore.The board has recommended a final dividend of Rs 3 per share for the financial year 2022-23 subject to the approval of the shareholders at the Annual General Meeting of the company.Shares of Cochin Shipyard Ltd., as of 09:55 a.m., fell 9.38% to Rs 491.3 apiece in trade on Monday compared to the rise in the benchmark, NSE Nifty 50 Index by 0.47%. The stock fell as much as 12.17% intraday, the most in 38 months since March 23, 2020. Total traded volume stood at 6.7 times its 30-day average.Out of the 5 analysts tracking the company, 3 maintain a 'buy' rating and two recommend a 'hold', as per the Bloomberg data.The return potential as calculated by the consensus of analyst estimates, stand at an upside of 14.3% over the next 12 months.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rJK Lakshmi Cement Shares Fall Most In Over Two Months After Q4 ResultsShares of JK Lakshmi Cement Ltd. fell the most in over two months after its fourth quarter, released on Friday, May 19, after market close, failed to meet estimates.The company reported a fall in net profit of 39.04% at Rs 114.83 crore, failing to meet the Bloomberg estimate of Rs 132.9 crore.JK Lakshmi Cement Q4 FY23 (Consolidated, YoY)Revenue up 16.39% at Rs 1,862.07 crore (Bloomberg estimate: Rs 1,770.15 crore)Ebitda down 28.34% at Rs 232.66 crore (Bloomberg estimate: Rs 248.13 crore)Ebitda margin at 12.49% vs 20.29% (Bloomberg estimate: 14%)Net profit down 39.04% at Rs 114.83 crore (Bloomberg estimate: Rs 132.93 crore)The company will pay a dividend of Rs 3.75 per share for the fiscal ended 2023. The board approved raising Rs 300 crore via debtShares of JK Lakshmi Cement fell 4.79% to Rs 744.75 apiece, compared to a 0.37% gain in the NSE Nifty 50 as of 9:57 a.m. The stock rose 5.65% intraday, the most in over 2 months since March 14.The average traded volume so far in the day stood at 4.1 times its monthly average.Of the 22 analysts tracking the company, 17 maintain a 'buy' rating, two suggest a 'hold', and three suggest a 'sell' according to Bloomberg data.The average 12-month consensus price target implies a potential upside of 5.1%.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rPiramal Pharma Shares Gain As U.S. FDA Clears Facility Inspection With Zero Observations Shares of Piramal Pharma gained the most in two weeks after it received no observations from the U.S. drug regulator after an inspection of its facility in Madhya Pradesh.The U.S. FDA completed the good manufacturing practices and pre-approval inspection of the company’s Pithampur facility with no Form 483 observations. The facility was under inspection from May 15 to May 19, 2023. The regulator assigned an NAI or No Action Indicated designation after the facility visit. Stock Market Live: Sensex, Nifty Open Lower As Pharma Stocks Decline; RIL, ICICI Bank DragShares of Piramal Pharma Ltd. rose 1.71% to Rs 74.3 apiece, as of 10:03 a.m., in trade on Monday compared to 0.34% advance in the benchmark, NSE Nifty 50 Index.The stock gained as much as 4.45% intraday, the most in over two weeks since May 8, 2023. Total traded volume stood at 2.7 times its 30-day average. The relative strength index was at 53.3. Six analysts tracking the company maintain a 'buy' rating on the stock, as per the Bloomberg data. The average calculated from the 12-month price target given by analysts implies a potential upside of 45.9%.Source: Bloomberg, Exchange filingStubborn Cash Squeeze Risks Hurting India Economy’s Recovery!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rStocks, Currencies in Tight Ranges Amid Debt Talks: Markets WrapAdani Group Company Stocks Advance Shares of Adani Wilmar Ltd., Adani Enterprises Ltd., Adani Power Ltd., Adani Transmission Ltd., Adani Green Energy Ltd., Adani Total Gas Ltd., and NDTV Ltd. rose above 5% in early trade. !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rTCS Led Consortium Gets Rs 15,000 Crore Order From BSNL For 4G Network DeploymentA consortium led by Tata Consultancy Services received advance purchase order worth Rs 15,000 crore from BSNL for 4G network deployment across India.Source: Exchange filingBroader Markets Open LowerThe broader markets indices opened lower; the S&P BSE MidCap Index was down 0.14%, whereas S&P BSE SmallCap Index was lower by 0.27%.Seven out of the 19 sectors compiled by BSE declined, while 12 sectors advanced. The market breadth was skewed in the favour of the sellers. About 1,181 stocks rose 1,271 declined, and 156 remained unchanged on the BSE.Source: BSETop Movers On The Nifty 50 IndexReliance Industries Ltd., ICICI Bank Ltd., HDFC Bank Ltd., Kotak Mahindra Bank Ltd., and HDFC Ltd. were negatively contributing to the change in the Nifty 50 Index. Whereas, Adani Enterprises Ltd., Adani Ports and SEZ Ltd., Titan Co., Power Grid Corp of India Ltd., and Bajaj Auto Ltd. were positively adding to the change.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rSensex, Nifty Open Lower: Opening BellIndian equity benchmarks opened lower on Monday after declining on a weekly basis on Friday. Asian shares and U.S. stock futures traded in narrow ranges in early trading as uncertainty over U.S. talks to avoid a debt default cast a shadow over markets. Australian equities declined while Japanese stocks were flat. Stocks are primed to drop if the U.S. fails to raise the debt limit and delays government payments. The S&P 500’s drop on Friday halted a two-day rally as it failed to stay above the closely watched level of 4,200. At pre-open, the S&P BSE Sensex Index was down 150 points or 0.24% at 61,579.78 while the NSE Nifty 50 Index was lower by 2 points or 0.01% at 18,201.10.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rSensex, Nifty Decline At Pre-OpenAt pre-open, the S&P BSE Sensex Index was down 150 points or 0.24% at 61,579.78 while the NSE Nifty 50 Index was lower by 2 points or 0.01% at 18,201.10.Source: BloombergYield On The 10-Year Bond Opens Flat The yield on the 10-year bond opened flat at 6.99% on Monday. Source: BloombergRupee Weakens Against The U.S. Dollar The local currency depreciated by 11 paise to open at 82.78 against the greenback on Monday. The local currency closed at 82.67 on Friday. Source: BloombergPharma Under Pressure, Banking Stocks Look Positive: Trade SetupGlobal CuesU.S. Dollar Index at 103U.S. 10-year bond yield at 3.65%Brent crude down 0.73% at $75.03 per barrel Nymex crude down 0.73% at $71.03 per barrel SGX Nifty down 0.17% at 18,207.5 as of 8:10 a.m. Bitcoin up 0.95% at $26,595.14Stocks, Currencies in Tight Ranges Amid Debt Talks: Markets WrapTrading TweaksMove Into Short-Term ASM Framework: eMudhraMove Out of Short-Term ASM Framework: Fairchem Organics, Max Ventures and IndustriesPower Distribution Companies And Litigation Woes — Infravisioning With Vinayak ChatterjeePledge Shares DetailsUsha Martin: Promoter Usha Martin Ventures revoked a pledge of 2 crore shares and promoter Peterhouse Investments India revoked a pledge of 1.96 crore shares on May 16.Emami: Promoter group Diwakar Finvest released a pledge 4.74 lakh shares and Suraj Finvest released a pledge of 2.75 lakh shares between May 17-18.You’ll Soon Be Paying Less As Charges For Investments In Mutual FundsBulk DealWheels India: 3P India Equity Fund 1 bought 1 lakh shares (0.42%), Nippon India Mutual Fund sold 1 lakh shares (0.42%) at Rs 551 apiece. SBI Withdraws Requirement For Requisition Slips For Exchange Of Rs 2,000 NotesBlock DealsAffle India: Sector Investment Funds Plc bought 1.69 lakh shares (0.13%), Goldman Sachs (Singapore) Pte-ODI sold 1.69 lakh shares (0.13%) at Rs 911.75 apiece.Cholamandalam Investment and Finance Company: Sector Investment Funds Plc bought 2.68 lakh shares (0.03%), Goldman Sachs (Singapore) Pte-ODI sold 2.68 lakh shares (0.03%) at Rs 1,042.15 apiece.Devyani International: Sector Investment Funds Plc bought 9.07 lakh shares (0.08%), Goldman Sachs (Singapore) Pte-ODI sold 9.07 lakh shares (0.08%) at Rs 184.25 apiece.Jubilant Foodworks: Sector Investment Funds Plc bought 5.7 lakh shares (0.09%), Goldman Sachs (Singapore) Pte-ODI sold 5.7 lakh shares (0.09%) at Rs 474.80 apiece.Sonata Software: Sector Investment Funds Plc bought 2.57 lakh shares (0.18%), Goldman Sachs (Singapore) Pte-ODI sold 2.57 lakh shares (0.18%) at Rs 924.85 apiece.Varun Beverages: Sector Investment Funds Plc bought 1.2 lakh shares (0.01%), Goldman Sachs (Singapore) Pte-ODI sold 1.2 lakh shares (0.01%) at Rs 2,720.65 apiece.Devyani International: Sector Investment Funds Plc bought 2.71 lakh shares (0.04%), Goldman Sachs (Singapore) Pte-ODI sold 2.71 lakh shares (0.04%) at Rs 1,575.80 apiece.Charting the Global Economy: China’s Recovery Is Losing MomentumStocks To Watch: NTPC, Zomato, Delhivery, JSW Steel, Glenmark Pharma, ABFRL In FocusZee Entertainment Enterprises/IDBI Bank: The Mumbai bench of the National Company Law Tribunal has dismissed the application by IDBI Bank to initiate insolvency proceedings against Zee Entertainment.NDTV: The company’s stock has been moved out of the long-term additional surveillance measure framework by the BSE and National Stock Exchange.NTPC: NTPC Green Energy, the renewable arm of the company, signed an MoU with HPCL Mittal Energy under which it will supply 250 MW of green energy to the latter, according to a statement by NTPC. Both companies will explore opportunities in the production of green hydrogen, green ammonia, and green methane.Dilip Buildcon: The company has been selected as the L-1 bidder for the construction of the Malhargarh pressurised micro-lift major irrigation project on a turnkey basis by the Water Resource Department in the state of Mandsaur, Madhya Pradesh at a cost of Rs 699.03 crore.Aurobindo Pharma: The U.S. FDA has issued a Form 483 with four observations after inspecting the company’s Unit XIV, an API non-antibiotic manufacturing facility situated at Paravada Industrial Area, in Anakapalli, Andhra Pradesh.Piramal Pharma: The U.S. FDA completed the good manufacturing practises and pre-approval inspection of the company’s Pithampur facility with no Form 483 observations.Walchandnagar Industries: The company has agreed on a debt restructuring scheme with ACRE and has signed a restructuring agreement dated May 18, 2023. The company has allotted 32.10 lakh shares of Rs 2 each at Rs 60 per share for conversion to ACRE. The total value of the restructuring agreements is Rs 62 crore. The outstanding debt restructured until now stands at Rs 40.92 crore.What You Need To Do After NFO WithdrawalQ4 Earnings Results TodayAditya Birla Fashion and Retail, Borosil, Bharat Petroleum Corporation, Camlin Fine Sciences, CESC, Capri Global Capital, EIH, Finolex Industries, Federal-Mogul Goetze (India), Fusion Micro Finance, Garware Technical Fibres, Gujarat Alkalies & Chemicals, HEG, Indiabulls Housing Finance, Jtekt India, Moschip Technologies, NACL Industries, National Highways Infra Trust, PB Fintech, RACL Geartech, Radiant Cash Management Services, Ramco Industries, Keystone Realtors, Sansera Engineering, Shree Cement, SJVN, Sun Pharma Advanced Research Company, Spencers Retail, Thangamayil Jewellery.CCI Penalty Guidelines — Key To The Success Of A Settlement RegimeEarnings FineprintNTPC Q4 FY23 (Consolidated, YoY)Revenue up 19.33% at Rs 44,252.92 crore (Bloomberg estimate: Rs 42,160.64 crore)Ebitda up 4.52% at Rs 11,942.40 crore (Bloomberg estimate: Rs 12,897.63 crore)Ebitda margin at 26.99% vs 30.81% (Bloomberg estimate: 30.6%)Net profit down 6.31% at Rs 4871.55 crore (Bloomberg estimate: Rs 4,876.77 crore)The company will pay final dividend of Rs 3 per share for the fiscal 2022-23.JSW Steel Q4 FY23 (Consolidated, YoY)Revenue flat at Rs 46,962 crore (Bloomberg estimate: Rs 44,205.08 crore)Ebitda fell 13.5% at Rs 7,939 crore (Bloomberg estimate: Rs 6,732.61 crore)EBITDA margin 17% vs 19.5% (Bloomberg estimate: 15.2%)Net profit up 12% at Rs 3,741 crore (Bloomberg estimate: 2,068.51 crore)The board has recommended a final dividend of Rs 3.40 per share for the fiscal 2023. It also approved raising Rs 7,000 crore via non-convertible debentures and additional Rs 7,000 crore through equity shares and/or convertible securities.Power Grid Corporation of India Q4 FY23 (Consolidated, YoY)Revenue up 12.45% at Rs 11,494.90 crore (Bloomberg estimate: Rs 11,950.90 crore)Ebitda up 14.17% at Rs 10,134.46 crore (Bloomberg estimate: Rs 10,483.3 crore)Ebitda margins at 88.16% vs 86.84% (Bloomberg estimate: 87.7%)Net profit down 2.46% at Rs 4,214.4 crore (Bloomberg estimate: Rs 4,132.60 crore)The company announced a final dividend of Rs 4.75 per share for the fiscal 2023.Glenmark Pharmaceuticals Q4 FY23 (Consolidated, YoY)Revenue up 12% at Rs 3,374 crore (Bloomberg estimate: Rs 3,331 crore)Ebitda up 31% to Rs 605 crore (Bloomberg estimate: Rs 604 crore)Margins at 17.9% Vs 15.3% (Bloomberg estimate: 18.1%)Net loss of Rs 428 crore vs net profit of Rs 156 crore (Bloomberg estimate: Rs 276 crore profit)The board recommended a dividend of Rs 2.50 per share for the fiscal 2023. The company reported an exceptional loss of Rs 799.73 crore during the quarter under review.Narayana Hrudalaya Q4 FY23 (Consolidated, YoY)Revenue up 30% at Rs 1,222 crore (Bloomberg estimate: Rs 1,116 crore)Ebitda up 58% to Rs 276 crore (Bloomberg estimate: Rs 258 crore)Ebitda margin at 22.6% vs 18.6% (Bloomberg estimate: 23.1%)Net profit up 1.5 times to Rs 173 crore (Bloomberg estimate: Rs 157 crore)The company will pay final dividend of Rs 2.50 per share for the fiscal 2023, with record date fixed as July 7. The board approved raising Rs 300 crore via non-convertible debentures.Muthoot Finance Q4 FY23 (Consolidated)Interest income up 7.45% at Rs 3,134.11 crore (YoY)Net profit up 0.3% at Rs 1,009.26 crore (YoY) (Bloomberg estimate: Rs 941.70 crore)Stage III loan assets at 3.79% vs 2.58% (QoQ)Net stage III loan assets at 3.4% vs 2.31% (QoQ)Zomato Q4 (Consolidated, QoQ)Revenue up 5.5% at Rs 2,056 crore (Bloomberg estimate: Rs 2,076.47 crore)Ebitda loss at Rs 225.4 vs Rs 366.2 crore (Bloomberg estimate: Rs 360.73 crore loss)Net loss at Rs 188.2 crore vs Rs 346.6 crore (Bloomberg estimate: Rs 361.6 crore loss)Delhivery Q4 FY23 (Consolidated, YoY)Revenue fell 10% to Rs 1,860 crore (Bloomberg estimate: Rs 1,960 crore)Ebitda fell 79% to Rs 13.4 crore Vs Rs 63.25 crore (Bloomberg estimate: Rs 42 crore loss)Ebitda margin stood at 0.7% vs 3.1%Net loss stood at Rs 159 crore (Bloomberg estimate: Rs 174 crore loss)IRB Infrastructure Developers Q4 FY23 (Consolidated, YoY)Revenue up 13% at Rs 1,619.98 crore (Bloomberg estimate: Rs 1,763.85 crore)Ebitda up 18.26% at Rs 758.74 crore (Bloomberg estimate: Rs 677.63 crore)Ebitda margin at 46.84% vs 44.75% (Bloomberg estimate: 38.4%)Net profit down 25.42% at Rs 130.15 crore (Bloomberg estimate: Rs 212.23 crore)The company will pay a second interim dividend of Rs 0.075 per share, with the record date fixed as May 29.Abbott India Q4 FY23 (YoY)Revenue up 7% at Rs 1,343 crore (Bloomberg estimate: Rs 1,369 crore)Ebitda down 5% to Rs 280 crore (Bloomberg estimate: Rs 332 crore)Ebitda margin at 20.9% vs 23.4% (Bloomberg estimate: 24.3%)Net profit up 9% to Rs 231 crore (Bloomberg estimate: Rs 249 crore)The board recommended a final dividend of Rs 180 per share along with a special dividend of Rs 145 per share.Bandhan Bank Q4 FY23Net interest income down 2.69% at Rs 2,471.77 crore (YoY)Net profit down 57.51% at Rs 808.29 crore (YoY) (Bloomberg estimate: Rs 848.23 crore)GNPA ratio at 4.87% vs 7.15% (QoQ)NNPA ratio at 1.17% vs 1.86% (QoQ)Hindustan Copper Q4 FY23 (Consolidated, YoY)Revenues up 2.62% at Rs 559.76 croreEbitda up 22.08% at Rs 186.02 croreEbitda margin at 33.23% vs 27.94%Net profit up 48.42% at Rs 132.21 croreCochin Shipyard Q4 FY23 (Consolidated, YoY)Revenue down 50.51% at Rs 600.09 crore (Bloomberg estimate: Rs 802 crore)Ebitda loss of Rs 67.06 crore vs Ebitda of Rs 296.27 crore (Bloomberg estimate: Rs 160.40 crore profit)Net profit down 85.67% at Rs 39.34 crore (Bloomberg estimate: Rs 128.30 crore)NLC India Q4 FY23 (Consolidated, YoY)Revenue up 66.37% at Rs 5,134.04 croreEbitda up 61.22% at Rs 1,722.45 croreEbitda margin at 33.55% vs 34.62%Net profit up 152.62% at Rs 836.59 croreThe company declared a final dividend of Rs 2 per share for the fiscal 2023.Crompton Greaves Consumer Electricals Q4 FY23 (Consolidated, YoY)Revenue up 15.7% at Rs 1,790.96 croreEbitda dowj 7.58% at Rs 211.44 croreEbitda margin at 11.81% vs 14.78%Net profit down 25.49% at Rs 131.55 croreThe board recommended a final dividend of Rs 3 per share for the fiscal 2023.Sun TV Q4 FY23 (Consolidated, YoY)Revenues down 1.92% at Rs 840.36 crore (Bloomberg estimate: Rs 816.68 crore)Ebitda down 11.72% at Rs 497.83 crore (Bloomberg estimate: Rs 470.43 crore)Ebitda margin at 59.24% vs 65.81% (Bloomberg estimate: 57.6%)Net profit down 7.26% at Rs 380.4 crore (Bloomberg estimate: Rs 369.92 crore)JK Lakshmi Cement Q4 FY23 (Consolidated, YoY)Revenue up 16.39% at Rs 1,862.07 crore (Bloomberg estimate: Rs 1,770.15 crore)Ebitda down 28.34% at Rs 232.66 crore (Bloomberg estimate: Rs 248.13 crore)Ebitda margin at 12.49% vs 20.29% (Bloomberg estimate: 14%)Net profit down 39.04% at Rs 114.83 crore (Bloomberg estimate: Rs 132.93 crore)The company will pay a dividend of Rs 3.75 per share for the fiscal ended 2023. The board approved raising Rs 300 crore via debt.Times Group Split: Samir, Vineet Jain Reach Agreement, Says Harsh Goenka SGX Nifty Signals Lower OpenStart For BenchmarksAsian shares and U.S. stock futures traded in narrow ranges in early trading as uncertainty over U.S. talks to avoid a debt default cast a shadow over markets.Stocks are primed to drop if the U.S. fails to raise the debt limit and delays government payments. The S&P 500’s drop on Friday halted a two-day rally as it failed to stay above the closely watched level of 4,200.Australian equities declined, while Japanese stocks were flat. Futures for Hong Kong’s Hang Seng Index edged higher after the benchmark slipped more than 1% on Friday.The yield on the 10-year Treasury note in the U.S. was trading at 3.65%. Crude was trading at $75 mark, while Bitcoin declined 1%, below $27,000 level.At 8:10 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 0.17% at 18,207.5.Domestic benchmark indices snapped a three-day losing streak to end higher, aided by gains in Adani Group stocks as well as technology and information technology stocks.The Indian rupee closed lower against the U.S. dollar for the third straight day as it faced a strong greenback in the overseas market and hardening crude prices.Foreign portfolio investors offloaded equities worth Rs 113.5 crore, snapping the 16-day buying streak—the longest buying spree so far in 2023. On the other hand, domestic institutional investors turned buyers snapping their three-day selling streak, and bought stocks worth Rs 1,071.4 crore, the NSE data showed.Stock Market Today: All You Need To Know Going Into Trade On May 22. Read more on Markets by BloombergQuint.
Read more: bloombergquint
