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JSW Energy Jumps The Most In Three Weeks After Unit Signs 300 MW Of Wind Capacity With SIECShares of JSW Energy Ltd. rose the most in three weeks after its subsidiary signed a Power Purchas Agreement for 300 MW of wind capacity with Solar Energy Corporation of India Ltd.The project has been allotted to JSW Renew Energy Three Ltd. under SECI Tranche-XII. The PPA is signed for supply of power for a period of 25 years with a tariff of Rs 2.94/KWh. The project is located in Maharashtra and is expected to be commissioned in next 24 months.As per the exchange filing, JSW Energy has set a target for 50% reduction in carbon footprint by 2030 and achieving carbon neutrality by 2050 by transitioning towards renewable energy.Best Of India Bond Rally May Be Over With Sales Deluge ComingShares of JSW Energy Ltd. rose 2.40% to Rs 266.7 apiece, as of 11:20 a.m., in trade on Monday compared to 0.94% advance in the benchmark, NSE Nifty 50 Index.The stock rose as much as 4.82% intraday, the most in over three weeks since April 20, 2023. Total traded volume stood at 3.3 times its 30-day average. The relative strength index was at 61.9. Out of the 10 analysts tracking the company, one maintains a 'buy' rating, two recommend a 'hold' and seven 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 downside of 18.9%.Source: Bloomberg, 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;rPowell’s Bet Against Recession Looks Good — Minus the Credit Crunch And A DC StandoffEquitas Small Finance Bank Shares Rise After Net Profit Beats EstimatesShares of Equitas Small Finance Bank Ltd. gained the most in over seven weeks after its fourth-quarter profit beat analysts' estimates.The company's fourth-quarter consolidated net profit jumped 59.02% to Rs 190.04 crore, according to an exchange filing. Bloomberg had estimated a quarterly profit of Rs 157.59 crore in January-March.Equitas Small Finance Bank Q4 FY23Net interest income up 27.97% at Rs 706.96 crore (YoY)Net profit up 59.02% at Rs 190.04 crore (YoY) (Bloomberg estimate: Rs 157.59 crore)GNPA ratio at 2.76% vs 3.63% (QoQ)NNPA ratio at 1.21% vs 1.82% (QoQ)The board recommended a dividend of Rs 1 per share.Shares of the company gained 4.91% to Rs 76.43 apiece as of 10:47 a.m. in trade on Friday, compared to a 0.98% gain in the benchmark, NSE Nifty 50 Index.The stock rose as much as 7.46% intraday, the most in over seven week since March. 17. Total traded volume stood at 4.3 times its 30-day average.Of the 18 analysts tracking the company, all have a 'buy' rating, according to Bloomberg data. The 12-month consensus price target implies an upside of 9.7%Source: Bloomberg, 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;rOlectra Greentech Shares Climb Over 10% As Q4 Profit Rises Shares of Olectra Greentech Ltd. rose the most in over eight weeks on Monday after the company reported an over 50% year-on-year rise in its fourth-quarter profit and Ebitda. The company's net profit rose 55% year-on-year to Rs 27.49 crore in the quarter ended March, according to its exchange filing. That compares with the net profit of the period in the previous fiscal, which stands at Rs 17.77 crore. Company's March quarter revenue was up 39% to Rs 375.91 crore compared with Rs 271.30 crore, in the same period a year back.The board of directors also recommended a final dividend of Rs 0.40 per share for FY23, subject to approval of the shareholders.Stock Market Live: Sensex, Nifty Open Higher Led By Banks, Realty StocksOlectra Greentech Q4 FY23 (Consolidated, YoY)Revenue up 38.56% at Rs 375.91 crore vs Rs 271.30 crore Ebitda up 56% at Rs 49.98 crore vs Rs 32.05 crore Ebitda margin at 13.3% vs 11.8%PAT up 55% at Rs 27.49 crore vs Rs 17.77 crore The board has recommended a final dividend of Rs 0.40 per share for FY23.Best Of India Bond Rally May Be Over With Sales Deluge ComingShares of Olectra Greentech Ltd. rose 6.75% to Rs 688.4 apiece, as of 10:53 a.m., in trade on Monday compared to 0.91% advance in the benchmark, NSE Nifty 50 Index.The stock rose as much as 10.39% in pre-open trade, the most in over 13 weeks since March 10, 2023. Total traded volume stood at 7.3 times its 30-day average. The relative strength index was at 61. Source: Bloomberg, 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;rPowell’s Bet Against Recession Looks Good — Minus the Credit Crunch And A DC StandoffCoal India Shared Decline As Analysts Expect Lower Margin As Global Prices FallCoal India Ltd.'s shares declined after analysts flagged declining margins in FY24 as e-auction prices normalised in line with falling global prices.Jefferies maintains a 'hold' on the stock with a price target of Rs 225 per share, implying a potential downside of 5.5%. Nuvama Institutional Equities retains 'buy' with a target price of Rs 301.The consolidated net profit fell 17.7% over a year earlier to Rs 5,527.6 crore in the quarter ended March, according to its exchange filing. That compares with the Rs 7,752.3 crore consensus estimate of analysts tracked by Bloomberg.Coal India Q4 FY23 (Consolidated figures, YoY)Revenue is up 16.9% at Rs 38,152.3 crore against the estimated Rs 35,270 crore.Net profit down 17.7% at Rs 5,527.6 crore; the estimate was Rs 7,752.3 crore.Ebitda is down 24.2% to Rs 6,898.1 crore versus the estimate of Rs 9,1730.2 crore.Margins at 18.1% versus 27.8%; analysts had forecast 26%.The board recommended a final dividend of Rs 4 per share.Coal India Q4 Profit Drops 18% On Wage Bill; Record Net Profit In FY23Shares of the company declined 2.95% to trade at Rs 230.35, as of 10:08 a.m., compared to a 0.72% gain in the benchmark Nifty 50.Of the 23 analysts tracking the stock, 15 maintain a 'buy,' three suggest a 'hold,' and five recommend a 'sell,' according to Bloomberg data.Source: Bloomberg, 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;rAstra Microwave Shares Rise As Board Concludes QIP Issue To Raise Rs 275-CroreShares of Astra Microwave Products Ltd. advanced on Monday as the company raised Rs 275 crore through a qualified institutional placement issue.The indicative price of the QIP issue was Rs 270 per share. The company develops microwave systems used in defence, space, meteorology, and telecommunication industries. The board of directors of the company, allotted 83.33 lakh shares of face value of Rs 2 each to the eligible qualified institutional buyers.After concluding the QIP, the paid-up equity share capital of the company stands increased from Rs 17.32 crore to Rs 18.98 crore.Out of the 12 qualified institutional buyers, key investors include Nippon MF, Kotak MF, Tata AIA Life and IIFL. On the other hand, the key foreign investors include Societe Generale.Shares of Astra Microwave Products Ltd. rose 1.21% to Rs 322.45 apiece, as of 9:55 a.m., in trade on Monday compared to 0.75% advance in the benchmark, NSE Nifty 50 Index.The stock rose as much as 1.98% in pre-open trade, the most in over 13 weeks since May 4, 2023. The relative strength index was at 81, implying that the stock maybe overbought.Two 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 15%.Source: Bloomberg, 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;rMaruti Suzuki Breaches 9,000 In Over 13 Weeks Shares of Maruti Suzuki India Ltd. rose 0.56% to Rs 8,999.05 apiece, as of 9:27 a.m., in trade on Monday compared to 0.60% advance in the benchmark, NSE Nifty 50 Index.The stock rose as much as 1.09% in pre-open trade, the most in over 13 weeks since Feb. 1, 2023. Total traded volume stood at 2.2 times its 30-day average. The relative strength index was at 70.5, implying that the stock maybe overbought.Out of the 49 analysts tracking the company, 37 maintain a 'buy' rating, seven recommend a 'hold' and five 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 14.8%.The net profit of the Indian unit of Japan's Suzuki Motor Corp. rose in the fourth quarter on higher sales and a rising share of sports utility vehicles. The net profit rose 43% year-on-year to Rs 2,623.6 crore in the quarter ended March, according to its exchange filing. That compares with the Rs 2,565 crore consensus forecast of analysts tracked by Bloomberg.Maruti Suzuki Q4 FY23 Highlights (YoY):Revenue rose 20% to Rs 32,048 crore vs. Rs 26,740 crore (Bloomberg Estimate: Rs 32,365 crore).Net profit rose 43% to Rs 2,623.6 crore vs. Rs 1,839 crore (Bloomberg Estimate: Rs 2,565 crore).Ebitda rose 38% to Rs 3,350.3 crore vs. Rs 2,426.8 crore (Bloomberg Estimate: Rs 3,418 crore).Ebitda margin stood at 10.5% vs. 9.1% (Bloomberg Estimate: 10.6%).Source: Bloomberg, 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;rMaruti Suzuki Q4 Results: A Bull Vs A Bear CaseBroader Markets Open HigherThe broader market indices opened higher; S&P BSE MidCap Index was down by 0.39%, whereas S&P BSE SmallCap Index was lower by 0.38%. Sixteen out of the 20 sectors compiled by BSE advanced, while four sectors declined in trade.The market breadth was skewed in the favour of the sellers. About 1,825 stocks rose 823 declined, and 126 remained unchanged on the BSE.Source: BSETop Movers On Nifty 50 Index!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 Advance In Pre-OpenAt pre-open, the S&P BSE Sensex Index was up 104 points or 0.17% at 61,158.24 while the NSE Nifty 50 Index was higher by 52 points or 0.29% at 18,120.60.Source: BloombergYield On The 10-Year Bond Flat The yield on the 10-year bond opened flat at 7% on Monday. Source: BloombergRupee Strengthens Against The U.S. Dollar The local currency appreciated 4 paise to open at 81.76 against the greenback on Monday.It closed at 81.80 on Thursday. Source: BloombergHotels, Tyre And Realty Stocks May Continue To See Gains: Trade Setup Global CuesU.S. Dollar Index at 101.2U.S. 10-year bond yield at 3.43%Brent crude down 0.33% to $75.05 per barrel Nymex crude down 0.29% at $71.13 per barrel SGX Nifty up 0.18% at 18,157.5 as of 8:10 a.m. Bitcoin down 2.32% at $28,281.50Asian Shares Rise After US Financials Rebound: Markets WrapInsider TradingSom Distilleries & Breweries: Promoter Jagdish Kumar Arora bought 1.45 lakh shares on May 5.Paytm Eyes Free Cash Flow and AI-First Offerings, Says Vijay Shekhar SharmaPledge Share DetailsRamco Industries: Promoter Saradha Deepa revoked a pledge of 5.80 shares on May 3.Dear India Inc., You Need To Care About The Unequal Burden Of Women’s Unpaid LabourTrading TweaksPrice Band Revised From 10% To 5%: Rail Vikas NigamMove Out of Short-Term ASM Framework: SaksoftCharting the Global Economy: Fed, ECB Policies May DivergeBulk DealsSom Distilleries & Breweries: Jagdish Kumar Arora bought 1.36 lakh shares (0.18%) at Rs 29.41 apiecet, Poonam Lamba bought 25,000 shares (0.03%) at 28.26 apiece, Mandori Traders sold 31,132 (0.03%), Rajesh Thakur sold 31,835 (0.03%), Bana Singh sold 44,873 shares (0.05%) at Rs 29.5 apiece.Why Reinstatement Of Medical Insurance Cover Is CrucialStocks To Watch: Adani Power, Britannia, Paytm, Marico, Canara Bank, Manappuram Finance, Lupin, UPLAditya Birla Fashion and Retail: The company has signed a definitive agreement to acquire a 51% stake in TCNS Clothing for Rs 1,650 crore. The company will acquire between 22% and 30.81% stakes from TCNS promoters and up to 29% stakes through an open offer at Rs 503 per share.TCNS Clothing: The company entered into definitive agreements for combining with ABFRL, part of the Aditya Birla group. As a part of the deal, ABFRL will hold a 51% stake in TCNS Clothing for Rs 1,650 crore. Under the merger, public shareholders of TCNS (as of the effective date) will receive 11 shares of ABFRL for every 6 shares that they hold in TCNS.SJVN: The company’s subsidiary SJVN Green Energy bagged a 100 MW connected wind power plant project from Gujarat Urja Vikas Nigam to be set up anywhere in India for approximately Rs 800 crore. The company also won a contract from Rajasthan Urja Vikas Nigam to set up a 100 MW solar power project at a cost of Rs 600 crore.Lupin: The company will acquire the entire share capital of French pharmaceutical company Medisol for €18 million, or Rs 161.89 crore. This consideration includes an upfront payment of €14.5 million (Rs 130.41 crore) and earn-outs up to €3.5 million (Rs 31.48 crore).Manappuram Finance: The board noted that the action against VP Nanadakumar, promoter as well as MD and CEO of the company, has nothing to do with the company and will not impact its financial positions and operations.Bharat Forge: The board approved the appointment of Kedar Dixit as chief financial officer, with effect from July 1, 2023, after Kishore Saletore resigned from the position, effective June 30.DCB Bank: The board accepted the resignation of Satish Gundewar from the position of chief financial officer, and identified Ravi Kumar as officer in charge. The process of appointing the new CFO is expected to be completed in the next few weeks.Warren Buffett Predicts Earnings Decline Across Berkshire UnitsQ4 Results TodayUPL, Canara Bank, Indian Bank, Kalpataru Power Transmission, Apar Industries, Pidilite Industries, CG Power and Industrial Solutions, Kansai Nerolac Paints, Aarti Industries, Mahanagar Gas, Birlasoft, Carborundum Universal, Craftsman Automation, VIP Industries, Happiest Minds Technologies, Apollo Pipes, Andhra Paper, Avadh Sugar & Energy, Exide Industries, HFCL, IndInfravit Trust, IRB InvIT Fund, Sterling Tools, Ugar Sugar Works, Wardwizard Innovations & Mobility!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;rTakeaways Of Indian Fund Managers From Warren Buffett's Annual MeetEarnings FineprintBritannia Industries Q4 FY23 (Consolidated figures, YoY)Revenue up 13% at Rs 4,023.2 crore (Bloomberg estimate: Rs 4,066.5 crore)Ebitda up 46% to Rs 800.9 crore (Bloomberg estimate: Rs 715.4 crore)Ebitda margin at 19.9% Vs 15.5% (Bloomberg estimate: 17.6%)Net profit up 47% at Rs 558.7 crore (Bloomberg estimate: Rs 501.9 crore)Adani Power Q4 FY23 (Consolidated, YoY)Revenues up 40% at Rs 38,773.30 crore vs Rs 27.,711.20 croreEBITDA up 2.3% at Rs 10,044.7 crore vs Rs 9,814.16 croreEBITDA margin at 25.9% vs 35.5%Net profit up 118.4% at Rs 10,726.6 crore vs Rs 4,911.58 croreMarico Q4 FY23 (Consolidated, YoY)Revenue up 4% at Rs 2,240 crore (Bloomberg estimate: Rs 2,253.2 crore)Ebitda up 14% to Rs 393 crore (Bloomberg estimate: Rs 398.3 crore)Ebitda margin at 17.5% vs 16% (Bloomberg estimate: 17.7%)Net profit up 20% at Rs 302 crore (Bloomberg estimate: Rs 285.5 crore)Paytm Q4 FY23 (Consolidated, QoQ)Revenues up 13.2% at Rs 2334.50 crore (Bloomberg estimate: Rs 2,325.73 crore)EBITDA loss narrows to Rs 129.10 crore vs Ebitda loss of Rs 330.7 crore (Bloomberg estimate: Rs 209.10 crore)Net loss narrows to Rs 168.4 crore vs Rs 392 crore (Bloomberg estimate: Rs 369.20 crore)Alembic Pharma Q4 FY23 (Consolidated, YoY)Revenue down 1% at Rs 1,406 crore (Bloomberg estimate: Rs 1,399 crore)Ebitda up 33% to Rs 212 crore (Bloomberg estimate: Rs 225 crore)Ebitda margin at 15.1% vs 11.3% (Bloomberg estimate: 16.1%)Net profit up 6 times to Rs 153 crore (Bloomberg estimate: Rs 102 crore)Equitas Small Finance Bank Q4 FY23Net interest income up 27.97% at Rs 706.96 crore (YoY)Net profit up 59.02% at Rs 190.04 crore (YoY) (Bloomberg estimate: Rs 157.59 crore)GNPA ratio at 2.76% vs 3.63% (QoQ)NNPA ratio at 1.21% vs 1.82% (QoQ)The board recommended a dividend of Rs 1 per share.DCB Bank Q4 FY23Net interest income up 27.72% at Rs 485.95 crore (YoY)Net profit up 25.36% at Rs 142.21 crore (YoY) (Bloomberg estimate: Rs 121 crore)GNPA ratio at 3.19% vs 3.62% (QoQ)NNPA ratio at 1.04% vs 1.37% (QoQ)The board approved a dividend of Rs 1.25 per share.Piramal Enterprises Q4 FY23 (Consolidated)Net interest income declined 4% to Rs 1,128 crore (YoY)Net loss widened to Rs 195.87 crore vs net profit of Rs 150.53 crore (YoY)GNPA ratio at 3.8% vs 4% (QoQ)NNPA ratio at 1.9% vs 1.7% (QoQ)The board recommended a final dividend of Rs 31 per share.Blue Dart Express Q4 FY23 (Consolidated, YoY)Revenue up 4.34% at Rs 1,216.55 crore (Bloomberg estimate: Rs 1,273.03 crore)Ebitda down 31.72% at Rs 199.23 crore (Bloomberg estimate: Rs 212.05 crore)Ebitda margin at 16.38% vs 25.03% (Bloomberg estimate: 16.7%)Net profit down 49.3% at Rs 69.44 crore (Bloomberg estimate: Rs 80.55 crore)The board recommended a dividend of Rs 30 per share, subject to shareholders’ approval.Olectra Greentech Q4 FY23 (Consolidated, YoY)Revenue up 38.56% at Rs 375.91 croreEbitda up 31.89% at Rs 132.11 croreEbitda margin at 35.14% vs 36.92%Net profit up 52% at Rs 27.01 croreAjanta Pharma Q4 FY23 (Consolidated, YoY)Revenue up 1.33% at Rs 881.84 crore (Bloomberg estimate: Rs 929.32 crore)Ebitda down 27.73% at Rs 149.37 crore (Bloomberg estimate: Rs 210.14 crore)Ebitda margin at 16.94% vs 23.75% (Bloomberg estimate: 22.6%)Net profit down 19.15% at Rs 122.25 crore (Bloomberg estimate: Rs 49.74 crore)Artemis Medicare Services Q4 FY23 (Consolidated, YoY)Revenue up 30.68% at Rs 195.28 croreEbitda up 50.44% at Rs 25.65 croreEbitda margin at 13.13% vs 11.41%Net profit down 20% at Rs 10.60 croreThe company announced a dividend of Rs 0.45 per share for fiscal 2023.Tatva Chintan Pharma Chem Q4 FY23 (Consolidated, YoY)Revenue up 26.37% at Rs 124.51 crore (Bloomberg estimate: Rs 129.10 crore)Ebitda down 26.01% at Rs 16.27 crore (Bloomberg estimate: Rs 20.95 crore)Ebitda margin at 13.07% vs 22.32% (Bloomberg estimate: 16.2%)Net profit down 3.2% at Rs 16.95 crore (Bloomberg estimate: Rs 16.55 crore)The board recommended a final dividend of Rs 2 for the fiscal 2023.Tata Investment Corporation Q4 FY23 (Consolidated, YoY)Revenue down 40.89% at Rs 30.67 croreEbitda down 51.17% at Rs 22.35 croreEbitda margin at 72.87% vs 88.21%Net profit up 0.7% at Rs 20.28 croreThe board has recommended a dividend of Rs 48 per share.Zen Technologies Q4FY23 (Consolidated, YoY)Revenue from operations up 242% at Rs 96 crore.Ebitda up 630% at Rs 35.2 crore.Ebitda margins at 37% vs 17%PAT up 96% at Rs 23.37 crore.Coal India Q4 Profit Drops 18% On Wage Bill; Record Net Profit In FY23SGX Nifty Signals Higher Open For The BenchmarksAsian markets advanced on Monday following a chaotic week for financial markets. Stocks moved firmly higher in Hong Kong, with financial shares among those advancing strongly.Benchmark indexes also climbed in South Korea and Australia, where a gauge of financial shares rose around 1%, led by Westpac Banking Corp.’s gain of about 3% after a first-half net profit that was slightly ahead of analyst estimates.Japan’s Topix index, meanwhile, declined as traders returned after national holidays. A sub-gauge of bank shares on the Topix fell about 1%.Contracts for U.S. equities were little changed after the strong performance on Wall Street on Friday. The S&P 500 halted its longest losing streak since February and climbed 1.9% as US regional banks rebounded. The Nasdaq 100 rose 2.1%, with strong earnings at Apple Inc.The yield on the 10-year Treasury note in the U.S. was trading at 3.43%. Crude oil prices were trading above the $75 mark, while Bitcoin declined below the $29,000 level.At 8:10 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 0.18% at 18,157.5.Domestic benchmark indices—the BSE Sensex and the NSE Nifty 50—crashed after a stellar run to close at their lowest level in seven weeks, dragged lower by the HDFC twins.The Indian currency markets were closed on Friday on the occasion of Buddha Purnima.Foreign investors were net buyers for the seventh day in a row and bought equities worth Rs 777.7 crore. On the other hand, domestic institutional investors turned sellers after a day and sold stocks worth Rs 2,198.8 crore, the NSE data showed.Stock Market Today: All You Need To Know Going Into Trade On May 8. Read more on Markets by BloombergQuint.
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