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Torrent Pharma Board To Meet On May 30 To Consider FundraiseThe board of Torrent Pharma will meet on May 30 to consider raising funds through equity or debt. It will decide to raise capital via issue of equity shares and convertible bonds or debentures through qualified institutional placement and or depository receipts or any other modes.Source: Exchange filingP&G Health Shares Gain After Q3 Profit GrowthShares of Procter & Gamble Health Ltd. rose 2.24% intraday during trade on Tuesday, after the company announced its third quarter results for the year ending in June.Its net profit for the quarter rose 15.7% at Rs 59.19 crore, against Rs 51.16 crore in the same quarter last year. Revenue grew 19.83% at Rs 320.92 crore, against Rs 267.82 crore in the same quarter last year.Procter & Gamble Health Q3 FY23 (YoY)Revenue up 19.83% at Rs 320.92 crore.Ebitda up 15.84% at Rs 79.66 crore.Ebitda margin at 24.82% vs 25.68%.Net profit up 15.7% at Rs 59.19 crore.!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;rSKF India To Buy 26% Stake In Renewable Energy Company Clean Max SKF India Ltd. has inked a shareholders' agreement with Clean Max Taiyo Pvt. Ltd. to further acquire 26,267 fully paid-up equity shares.It will buy the shares of Rs 10 each at a premium of Rs 1,596 each, equivalent to 26% of the total issued and paid-up share capital.Time period for completion of the acquisition is Dec. 31, 2023Source: Exchange filingUttam Sugar Mills Shares Gain After 60% Rise In Q4 Net ProfitShares of Uttam Sugar Mills Ltd. rose during trade on Tuesday, after the company announced its unaudited financial results for the quarter ended March.Uttam Sugar Mills Q4 FY23 (Consolidated, YoY)Revenue up 7.55% at Rs 527.42 croreEbitda up 15.89% at Rs 111.71 croreEbitda margin at 21.18% vs 19.66%Net profit up 14.64% at Rs 70 croreThe board recommended a dividend of 6.5% on Series-I non-cumulative redeemable preference shares and 10% on Series-II non-cumulative redeemable preference shares for FY23. It also approved a dividend of Rs 2.50 per equity share.Shares of Uttam Sugar Mills Ltd., as of 10:14 a.m., advanced 3.05% to Rs 275.6 apiece in trade on Tuesday compared to the rise in the benchmark, NSE Nifty 50 Index by 0.02%. The stock advanced as much as 3.61% intraday while the total traded volume stood at 1.9 times its 30-day average.!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;rPolycab Q4: Analysts Predict Improve In Margins, Volumes Going ForwardShares of Polycab India Ltd. gained after brokerages raised their earnings estimates and price targets on the stock following fourth-quarter profit beating analysts' estimates.The company, which reported its quarterly earnings on May 12, reported a 32% year-on-year increase in January-March net profit to Rs 428.42 crore , according to a stock exchange filing. Bloomberg estimated a net profit of Rs 382.08 crore in the fourth quarter. Meanwhile, revenue from operations rose 9% to Rs 4,323.68 crore compared to a Bloomberg estimate of Rs 4,329.76 crore.Polycab India Q4 Results (Consolidated YoY)Revenue from operations gained 9% to Rs 4,323.68 crore from Rs 3,969.98 crore. (BBG Estimate: Rs 4,329.76 crore)Ebitda gained to Rs 609.54 crore from Rs 476.34 crore. (BBG Estimate: Rs 535.49 crore)Ebitda margin stood at 14.1% vs 12%. (BBG Estimate: 13.09%)Net profit rose 32% to Rs 428.42 crore vs Rs 325.34 crore. (BBG Estimate: Rs 382.08 crore)The scrip was trading 0.53% higher at Rs 3,399.10 per share, compared to a flat benchmark Nifty 50 as of 10:19 a.m.Of the 26 analysts tracking the company, 12 maintained 'buy', six recommended 'hold' while one suggested 'sell'. Of the remaining seven analysts, four stand neutral between 'buy' and 'hold', while three are neutral between 'hold' and 'sell'.!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;rAstral Shares Jumps The Most 19 Months As Q4 Profit Beats Estimates Shares of Astral Ltd. rose the most in over 19 months after the fourth quarter revenue and profit beat analyst estimates. The company's revenue rose by 8.31% year-on-year to Rs 1,506.2 crore in the fourth quarter, beating the analyst estimate of Rs 1,489.87 crore. This compares with the revenue of the same period in the previous fiscal, which stands at Rs 1,390.6 crore, according to its exchange filing. Company's March quarter net profit up 43.1% year-on-year to Rs 206.2 crore compared with Rs 144.1 crore, in the same period a year back. It beat the consensus analyst estimates pooled by Bloomberg, which stood at Rs 149.09 crore.The board of directors recommended a final dividend of Rs 2.25 per equity share for the year ended March 31, 2023. The company in its exchange filing also highlighted the appointment of Kairav Engineer and Hiranand Savlani as an additional director under the executive category.Astral Q4 FY23 (Consolidated, YoY)Revenue up 8.31% at Rs 1,506.2 crore vs Rs 1,390.6 crore (Bloomberg estimate: Rs 1,489.87 crore)Ebitda up 45.87% at Rs 311 crore vs Rs 216.8 crore (Bloomberg estimate: Rs 247.97 crore)Ebitda margin at 20.64% vs 15.33% (Bloomberg estimate: 16.6%)Net profit up 43.1% at Rs 206.2 crore vs Rs 144.1 crore (Bloomberg estimate: Rs 149.09 crore)Shares of Astral Ltd. gained 8.55% to Rs 1,732 apiece, as of 10:36 a.m., in trade on Monday compared to 0.11% declined in the benchmark, NSE Nifty 50 Index.The stock rose as much as 8.75% intraday, the most in over 19 months since Oct. 4, 2021. Total traded volume stood at 26.2 times its 30-day average. The relative strength index was at 85.8, implying that the stock maybe overbought. Out of the 26 analysts tracking the company, 13 maintain a 'buy' rating, eight 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 downside of 5.9%.!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 Twins Drag Benchmarks Shares of HDFC Bank Ltd. and HDFC Ltd. were dragging the markets after the market regulator SEBI approved a change in control of HDFC Capital Advisors, a subsidiary of HDFC and a co-investment portfolio manager, pursuant to the merger of the two companies.Securities and Exchange board of India, in an earlier filing, had also granted its final approval for the proposed change in control of HDFC AMC.As per the exchange filing issued by the bank, these processes are a part of the final approvals from SEBI, in order to proceed with the proposed amalgamation with HDFC Ltd.Once the deal is effective, HDFC Bank will be 100% owned by public shareholders, and existing shareholders of HDFC will own 41% of the bank. Every HDFC shareholder will get 42 shares of HDFC Bank for every 25 shares they hold. As per Cogencis data, HDFC Ltd. dragged the NSE Nifty 50 Index by over 12 points, whereas, HDFC Bank Ltd. dragged the index by over 7 points, the most among the index constituents. !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;rBroader Markets Outperform The broader markets opened higher; the S&P BSE MidCap Index was up 0.63%, whereas S&P BSE SmallCap Index was higher by 0.61%.Eighteen out of the 20 sectors compiled by BSE advanced, while S&P BSE Financial Services and S&P BSE Bankex declined in trade. The market breadth was skewed in the favour of the buyers. About 1,795 stocks rose 596 declined, and 89 remained unchanged on the BSE.Source: BSETop Movers On The Nifty 50 Index Reliance Industries Ltd., Infosys Ltd., ICICI Bank Ltd., TCS Ltd., and ITC Ltd. were positively contributing to the change in the Nifty 50 Index. Whereas, HDFC Ltd., HDFC Bank Ltd., Maruti Suzuki India Ltd., Mahindra and Mahindra Ltd., and UPL Ltd. were negatively 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 Higher: Opening BellIndian equity benchmarks opened higher on Tuesday after closing near its five month high on Monday. Asian markets trimmed gains after China reported worse-than-estimated data that added to concern the world’s second-largest economy is losing momentum. The offshore yuan weakened. Mainland stocks swung to losses and those in Hong Kong pared their advance after the reports showed consumer spending and industrial activity both grew at a slower pace in April than expected. Asian markets were mixed, Europeans markets advanced, whereas the S&P 500 futures climbed 0.4%, signaling a rebound from Friday’s retreat. The Thai baht climbed as pro-democracy parties got the most votes in weekend elections, and the rand rallied after South Africa moved to ease tensions with the U.S. The data weighed on sentiment that was previously propped up by a 4% gain in the Nasdaq Golden Dragon China Index on Monday, when filings showed money manager Michael Burry boosted his bullish bets on e-commerce giants JD.com Inc. and Alibaba Group Holding Ltd. The U.S. debt ceiling remains the biggest focus for investors this week and strategists are warning Bloomberg, about market turmoil and economic disaster if politicians don’t agree to raise the government’s $31.4 trillion borrowing limit. At pre-open, the S&P BSE Sensex Index was up 128 points or 0.21% at 62,474.11 while the NSE Nifty 50 Index was higher by 34 points or 0.18% at 18,432.35.!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 Trade Higher In Open At pre-open, the S&P BSE Sensex Index was up 128 points or 0.21% at 62,474.11 while the NSE Nifty 50 Index was higher by 34 points or 0.18% at 18,432.35.Source: BloombergYield On The 10-Year Bond Opens Flat The yield on the 10-year bond opened flat at 7% on Tuesday. Source: BloombergRupee Strengthens Against The U.S. Dollar The local currency appreciated by about 8 paise to open at 82.23 against the greenback on Tuesday. The local currency closed at 82.30 on Monday. Source: BloombergRealty Remains A Safe Bet, Banks Continue To Shine: Trade Setup Cipla To Sell 51% Stake In Saba Investment To Shibam Group Holding In UAECipla will sell its entire stake for $6.5 million or approximately Rs 53.46 crore in Saba Investment to Shibam Group Holding in UAE.Cipla Middle East Pharmaceuticals and Cipla Medica, the UAE units of the company will cease to exist after the completion of the transaction.Source: Exchange filingGlobal CuesU.S. Dollar Index at 102.4U.S. 10-year bond yield at 3.48%Brent crude up 0.94% at $75.94 per barrel Nymex crude up 0.93% at $71.77 per barrel SGX Nifty up 0.29% at 18,457.5 as of 8:10 a.m. Bitcoin down 1.30% at $26,999.89Asian Stocks Rise; Topix Set for Three-Decade High: Markets WrapPledge Share DetailsInox Wind: Promoter Inox Wind Energy revoked a pledge of 39.54 lakh shares on May 9.What Gandhi’s Rare Win Over Modi Means For India Vote In 2024Trading TweaksPrice Band Revised From 20% To 10%: Aurionpro Solutions, Datamatics Global ServicesEx-Date Final Dividend: HDFC Bank, GM Breweries LimitedRecord Date Final Dividend: HDFC BankEx-Date Interim Dividend: HDFC, Sundram FastenersRecord Date Interim Dividend: HDFC, Sundram FastenersMove Into Short-Term ASM Framework: Manorama IndustriesMove Out of Short-Term ASM Framework: IOL Chemicals and PharmaceuticalsKarnataka CM Tussle: Shivakumar Wishes Siddaramaiah 'All The Best'Bulk DealsHome First Finance Company India: Norges Bank on account of Government Pension Fund Global bought 21 lakh shares (2.38%), Societe Generale bought 7.10 lakh shares (0.8%), Orange Clove Investment sold 18.85 lakh shares (2.14%), Aether Mauritius sold 11.31 lakh shares (1.29%) at Rs 700 apiece, True North Fund sold 16.97 lakh shares (1.92%) at Rs 700.97 apiece.Ethos: Yashovarshan Saboo sold 1.5 lakh shares (0.64%) at Rs 1253.83 apiece.Saksoft: Premier Investment Fund sold 5.65 lakh shares (0.53%) at Rs 200.92 apiece.New Renewable Energy Projects To Be Traded On Exchanges By Next Year: Power SecretaryBlock 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 919.85 per share.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 1,004.85 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 176.50 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 467.40 apiece.Titan Co.: 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 2,773.25 apiece.Varun Beverages: 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 1,557.20 apiece.WhatsApp Unveils Chat Lock For Password-Protected ConversationsStocks To Watch: Airtel, Max Healthcare, Pfizer, PVR Inox, Ultratech , HDFC Bank, HDFC In FocusUltratech Cement: Ultratech Nathdwara Cement, the company’s wholly owned subsidiary, commissioned a brownfield cement facility with an annual capacity of 0.8 million tonne in Neem Ka Thana, Rajasthan. The company’s total grey cement manufacturing capacity now stands at 129.95 million tonne per annum.Wipro: The company will integrate its cloud computing framework with Google Cloud’s Rapid Migration Programme, together with artificial intelligence and automated tooling, to accelerate cloud adoption among its clients.HCL Technologies: The company expanded its partnership with SAP, becoming a customer of and a global strategic service partner for SAP SuccessFactors Human Experience Management Suite.NIIT: The company bought the remaining 10% stake in RPS Consulting for a fixed consideration of Rs 15 crore and a performance-based earnout consideration of up to Rs 3.71 crore, payable over the next two years. NIIT now owns a 100% stake in RPS Consulting.Punjab & Sind Bank: The bank will hike the marginal cost of funds-based lending rates for overnight, one-month, and six-month tenures in the range of 5–10 basis points. Lending rates for three-month and one-year tenures have been kept unchanged.HDFC Bank/HDFC: Markets regulator SEBI has approved a change in control of HDFC Capital Advisors, a subsidiary of HDFC and a co-investment portfolio manager, pursuant to the merger of the two companies.Vedanta: The company appointed Sonal Shrivastava as the chief financial officer, effective June 1, it said in a statement.Microsoft’s $69 Billion Activision Deal Wins EU ApprovalQ4 Results TodayBharti Airtel, LIC Housing Finance, Max Healthcare Institute, Bank of Baroda, Indian Oil Corporation, Jindal Steel & Power, JK Paper, Creditaccess Grameen, Alicon Castalloy, Amber Enterprises India, Aurionpro Solutions, Automotive Axles, Chemplast Sanmar, EIH Associated Hotels, Excel Industries, Granules India, Indo Rama Synthetics (India), Jubilant Ingrevia, Kajaria Ceramics, Kaynes Technology India, Metropolis Healthcare, Morepen Laboratories, MPS, Mukand, Navneet Education, Oberoi Realty, Paras Defence And Space Technologies, Prakash Industries, Redington, Safari Industries (India), Shanti Educational Initiatives, Sirca Paints India, Siyaram Silk Mills, Triveni Turbine, TV Today Network, V-Mart RetailAllegations Of Adani Investigations Since 2016 'Factually Baseless', Says SEBIEarnings FineprintPfizer Q4 FY23 (Consolidated, YoY)Revenue up 4% at Rs 573 crore (Bloomberg estimate: Rs 552 crore)Ebitda up 10% at Rs 182 crore (Bloomberg estimate: Rs 177 crore)Ebitda margin at 31.8% Vs 30.1% (Bloomberg estimate: 32%)Net profit up 3% at Rs 130 crore (Bloomberg estimate: Rs 130 crore)The board recommended a final dividend of Rs 35 per share for the fiscal 2023. It also announced a special dividend of Rs 5 a share in view of the gain on sale of business undertaking at Thane.PVR Inox Q4 FY23 (Consolidated, QoQ)Revenue up 22% at Rs 1,143.17 crore (Bloomberg estimate: Rs 1,070.53 crore)Ebitda down 9% at Rs 263.87 crore (Bloomberg estimate: Rs 286.61 crore)Ebitda margin at 23.1% vs 30.7% (Bloomberg estimate: 26.8%)Net loss at Rs 333.37 crore vs net profit of Rs 16.15 crore (Bloomberg estimate: Rs 66.03 crore net loss)The board approved raising Rs 100 crore via non-convertible debentures on a private placement basis in one or more tranches.Berger Paints India Q4 FY23 (Consolidated, YoY)Revenue up 11.71% at Rs 2,443.63 crore (Bloomberg estimate: Rs 2,467.34 crore)Ebitda up 6.44% at Rs 368.76 crore (Bloomberg estimate: Rs 375.40 crore)Ebitda margin at 15.09% vs 15.84% (Bloomberg estimate: 15.21%)Net profit down 15.56% at Rs 186.01 crore (Bloomberg estimate: Rs 228.79 crore)The board recommended a dividend of Rs 3.20 per share for the fiscal 2023.Procter & Gamble Health Q4 FY23 (YoY)Revenue up 19.83% at Rs 320.92 croreEbitda up 15.84% at Rs 79.66 croreEbitda margin at 24.82% vs 25.68%Net profit up 15.7% at Rs 59.19 croreCoromandel Q4 FY23 (Consolidated, YoY)Revenue up 29.55% at Rs 5,475.82 crore (Bloomberg estimate: Rs 5,506.41 crore)Ebitda up 6.2% at Rs 403.23 crore (Bloomberg estimate: Rs 449.52 crore)Ebitda margins at 7.36% vs 8.98% (Bloomberg estimate: 8.2%)Net profit down 14.96% at Rs 246.44 crore (Bloomberg estimate: Rs 312.55 crore)The board recommended a final dividend of Rs 6 per share.Astral Q4 FY23 (Consolidated, YoY)Revenue up 8.31% at Rs 1,506.2 crore (Bloomberg estimate: Rs 1,489.87 crore)Ebitda up 45.87% at Rs 311 crore (Bloomberg estimate: Rs 247.97 crore)Ebitda margin at 20.64% vs 15.33% (Bloomberg estimate: 16.6%)Net profit up 43.1% at Rs 206.2 crore (Bloomberg estimate: Rs 149.09 crore)The company announced a final dividend of Rs 2.25 per share for the fiscal ended March 2023. The board approved appointment of Kairav Engineer as whole-time director and redesignation of Hiranand Savlani as additional director. Both directors have been appointed for a period of five years, effective July 1.PCBL Q4 FY23 (Consolidated, YoY)Revenue up 12.72% at Rs 1,373.81 croreEbitda up 36.84% at Rs 183.83 croreEbitda margin at 13.38% vs 11.02%Net profit up 15.88% at Rs 102.28 croreUttam Sugar Mills Q4 FY23 (Consolidated, YoY)Revenue up 7.55% at Rs 527.42 croreEbitda up 15.89% at Rs 111.71 croreEbitda margin at 21.18% vs 19.66%Net profit up 14.64% at Rs 70 croreThe board recommended a dividend of 6.5% on Series-I non-cumulative redeemable preference shares and 10% on Series-II non-cumulative redeemable preference shares for FY23. It also approved a dividend of Rs 2.50 per equity share.Windfall Tax On Crude Output Cut To Zero From Rs 4,100 Per TonneSGX Nifty Signals Higher Open For The BenchmarksAsian markets advanced, led by Japanese shares and tech stocks, with traders looking for clues to any breakthrough in negotiations in Washington to avert a U.S. default.Japan’s Topix index rose 0.5% at the open, heading for the highest close since 1990, while the Nikkei 225 gained around 0.7%. South Korean equities also rallied, while Australian stocks were little changed. Futures for Hong Kong stocks ticked higher, and traders will be watching Greater China technology companies after a 4% jump in the Nasdaq Golden Dragon China Index on Monday.U.S. equity futures edged lower before a meeting between President Joe Biden and House Speaker Kevin McCarthy on Tuesday. The US stock market gained Monday amid mixed signals sent by both factions in the debt ceiling talks. Treasury Secretary Janet Yellen reiterated that her department may run out of cash as soon as June 1 unless Congress raises or suspends the federal debt limit.Meanwhile, the yield on 10-year treasuries in the U.S. was trading at 3.48%. Crude edged above the $75 mark, while Bitcoin declined below the $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 up 0.29% at 18,457.5.Domestic benchmarks rallied for the second day, closing at their highest levels since mid-December 2022, supported by the rise in real estate and media stocks.The Indian rupee closed lower against the U.S. dollar as the greenback grew stronger in the overseas market.Foreign investors were net buyers for the thirteenth straight day and bought equities worth Rs 1,685.29 crore. On the other hand, domestic institutional investors turned buyers, snapping a three-day selling streak, and bought stocks worth Rs 191.20 crore, the NSE data showed.Stock Market Today: All You Need To Know Going Into Trade On May 16. Read more on Markets by BloombergQuint.
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