Stock Market Live Updates 09 May 2024: Lacklustre day on the cards for Nifty
State Bank of India, Asian Paints, Punjab National Bank, Bharat Petroleum Corp, Hindustan Petroleum Corp, Abbott India, Escorts Kubota, Timken India, Relaxo Footwear, Alembic Pharmaceuticals, Computer Age Management, Intellect Design Arena, Mahanagar Gas, Vardhman Textiles, Alkylamines Chemicals, Quess Corp, Orient Electric, Venus Pipes and Tubes, Hikal, VST Tillers Tractors, and n Overseas Bank.
Earnings Post Market Hours
Tata Power (Consolidated, YoY)
Revenue up 27.24% at Rs 15,846 crore vs Rs 12,454 crore (Bloomberg estimate Rs 16,009.31 crore).
Ebitda up 20.96% at Rs 2,332 crore vs Rs 1,928 crore, (Bloomberg estimate Rs 2,787 crore).
Margin down 76 bps at 14.71% vs 15.47%, (Bloomberg estimate 17.4%).
Net profit up 11.37% at Rs 1,045 crore vs Rs 938.81 crore (Bloomberg estimate Rs 950 crore).
Board recommends final dividend of Rs 2 per share.
Larsen & Toubro (Consolidated, YoY)
Revenue up 15% at Rs 67,079 crore vs Rs 58,335 crore (Bloomberg estimate Rs 65,868 crore).
Ebitda up 5.9% at Rs 7,234 crore vs Rs 6,833 crore, (Bloomberg estimate Rs 7,157 crore).
Margin at 10.8% vs 11.7% (Bloomberg estimate 10.9%).
Net profit up 12.4% at Rs 5,013 crore vs Rs 4,459 crore (Bloomberg estimate Rs. 4018 crore).
Bajaj Consumer Care (Consolidated, YoY)
Revenue down 3.8% at Rs 240 crore vs Rs 249.4 crore (Bloomberg estimate Rs 244 crore).
Ebitda down 16.8% at Rs 34.7 crore vs Rs 41.7 crore (Bloomberg estimate Rs 40.87 crore).
Margin at 14.5% vs 16.7% (Bloomberg estimate 16.7%).
Net profit down 12.1% at Rs 35.6 crore vs Rs 40.5 crore (Bloomberg estimate Rs 41.54 crore).
Board approves buyback of up to Rs 166 crore.
Godrej Agrovet (Consolidated, YoY)
Revenue up 1.87% at Rs 2,134 crore vs Rs 2,095 crore (Bloomberg estimate Rs 2,247 crore).
Ebitda up 98.39% at Rs 148 crore vs Rs 74.61 crore (Bloomberg estimate Rs 138.57 crore).
Margin up 337 bps at 6.93% vs 3.56% (Bloomberg estimate 6.2%).
Net profit up 178.99% at Rs 65.48 crore vs Rs 23.47 crore (Bloomberg estimate Rs 77.73 crore).
Board recommended final dividend of Rs 10 per share.
TVS Motor (Standalone, YoY)
Revenue up 23.68% at Rs 8,169 crore vs Rs 6,604 crore (Bloomberg estimate Rs 7,975 crore).
EBITDA up 36.25% at Rs 926.18 crore vs Rs 680 crore (Bloomberg estimate Rs 883 crore).
Margin up 104 bps at 11.33% vs 10.29% (Bloomberg estimate 11.10%).
Net profit up 18.31% at Rs 485.43 crore vs Rs 410.27 crore (Bloomberg estimate Rs 530.4 crore).
Board declares interim dividend of Rs 8 per share.
Kalpataru Projects (Consolidated, YoY)
Revenue up 22.3% at Rs 5,971 crore vs Rs 4,882 crore (Bloomberg estimate Rs 6,098 crore).
EBITDA up 36.1% at Rs 452 crore vs Rs 332 crore (Bloomberg estimate Rs 541.2 crore).
Margin at 7.6% vs 6.8% (Bloomberg estimate 8.9%).
Net profit up 20.7% at Rs 169 crore vs Rs 140 crore (Bloomberg Rs 208 crore).
Board recommends dividend of Rs 8 per share.
Sula Vineyards (Consolidated, YoY)
Revenue up 9.74% at Rs 122.52 crore vs Rs 113.38 crore.
Ebitda down 4.41% at Rs 29.46 crore vs Rs 30.82 crore.
Margin down 313 bps at 24.04% vs 27.18%.
Net profit down 4.84% at Rs 13.55 crore vs Rs 14.24 crore.
Board recommends final dividend of Rs 4.5 per share.
BSE (Consolidated, YoY)
Revenue up 110.36% at Rs 545 crore vs Rs 259 crore.
Ebitda up 19.84%at Rs 152.44 crore vs Rs 127.2 crore.
Margin down 2113 bps at 27.98% vs 49.11%.
Net profit up 20.62% at Rs 106.89 crore vs Rs 88.61 crore.
Gujarat State Petronet (Consolidated, QoQ)
Revenue up 3.24% at Rs 4,532 crore vs Rs 4,389 crore.
Ebitda up 24.17% at Rs 970 crore vs Rs 781 crore.
Margin up 360 bps at 21.39% vs 17.79%.
Net profit up 33.63% at Rs 663 crore vs Rs 496.19 crore.
Kirloskar Oil Engines (Consolidated, YoY)
Revenue up 19.95% at Rs 1,660 crore vs Rs 1,384 crore.
Ebitda up 59.36% at Rs 302.69 crore vs Rs 189.93 crore.
Margin up 450 bps at 18.23% vs 13.72%.
Net profit up 86.04% at Rs 147 crore vs Rs 78.91 crore.
Board recommends final dividend of Rs 3.5 per share.
Piramal Enterprises (Consolidated, YoY)
Revenue up 16% at Rs 2,473 crore vs Rs 2,132 crore (Bloomberg estimate Rs 852.55 crore).
Net profit at Rs 137 crore vs loss of Rs 196 crore (Bloomberg estimate Rs 1,013 crore).
Board recommends final dividend of Rs 10 per share.
SKF (Consolidated, YOY)
Revenue up 9.93% at Rs 1,203 crore vs Rs 1,095 crore (Bloomberg estimate Rs 1123 crore).
Ebitda up 27.8% at Rs 213 crore vs Rs 167 crore (Bloomberg estimate Rs 184 crore).
Margin up 247 bps at 17.72% vs 15.24% (Bloomberg estimate 16.4%).
Net profit up 42.54% at Rs 175.23 crore vs Rs 122.93 crore (Bloomberg estimate Rs 137 crore).
Home First Finance (Standalone, YoY)
Total income up 37.35% at Rs 317.7 crore vs Rs 231.3 crore.
Net profit up 30.34% at Rs 83.46 crore vs Rs 64.03 crore (Bloomberg estimate Rs 80.98 crore).
Board recommends dividend of Rs 3.4 per share.
Infra Engineering (Consolidated, YoY)
Revenue up 11.25% at Rs 1,708 crore vs Rs 1,535 crore.
EBITDA up 11.98% at Rs 332.55 crore vs Rs 297 crore.
Margin up 12 bps at 19.46% vs 19.34%.
Net profit up 11.17% at Rs 190 crore vs Rs 171 crore.
Vijaya Diagnostic Centre (Consolidated, YoY)
Revenue up 28.3% at Rs 155.2 crore vs Rs 121 crore (Bloomberg estimate Rs 149 crore).
Ebitda up 28.53% at Rs 63.1 crore vs Rs 49.09 crore (Bloomberg estimate Rs 61 crore).
Margin up 8 bps at 40.65% vs 40.57%, (Bloomberg estimate 40.8%).
Net profit up 21.7% at Rs 33.7 crore vs 27.7 crore (Bloomberg estimate Rs 30.75 crore).
STOCKS TO WATCH
Reliance: The company acquired a 100% stake in Reliance Chemicals for Rs 314.5 crore.
* Bank of Baroda:* The Reserve Bank of India lifts restrictions on the bank’s mobile app, ‘Bob World’. The company resumed onboarding customers in the ‘Bob World’ app.
* Nucleus Software:* The company approved the appointment of Surya Prakash Kanodia as CFO.
* HDFC Life:* IRDAI approved the appointment of Keki M. Mistry as Chairman of the Board.
* NBCC:* The company received an order worth Rs 400 crore from the Supreme Court.
* TVS Supply Chain Solutions:* The company received a business deal for Eicher’s bus facility in Baggad.
RVNL: gets order worth ₹167.3 cr from South Eastern Railway gets order worth ₹167.3 cr from South Eastern Railway
* Wipro:* The company collaborated with Kognitos to deploy Gen-Al-based business automation solutions.
* Juniper Hotels:* The company received a term loan worth 491 crore.
* Godrej Properties:* The company acquired an additional 14% stake in arm Godrej One Premises Management from promoter Godrej and Boyce Manufacturing Company. The company’s stake stands at 28%.
* NTPC:* NTPC Green Energy has signed an MoU with Mahatma Phule Renewable Energy and Infrastructure Technology for developing renewable energy power parks and projects in Maharashtra.
IPO Offering
Indegene: The public issue was subscribed to 69.91 times on day 3. The bids were led by institutional investors (197.55 times), non-institutional investors (55.07 times), retail investors (7.95 times), and portion reserved for employees (6.48 times).
TBO Tek: The public issue was subscribed to 1.15 times on day 1. The bids were led by institutional investors (0.01 times), non-institutional investors (2.08 times), retail investors (3.14 times), and portion reserved for Employees e(2.23 times).
Aadhar Housing Finance: The public issue was subscribed to 0.44 times on day 2. The bids were led by institutional investors (0.33 times), non-institutional investors (0.6 times), retail investors (0.41 times), and portion reserved for employees (2.01 times).
Bulk Deals
Chennai Petroleum Corp: Polunin Emerging Markets Small Cap Fund LLC sold 7.87 lakh shares (0.52%) at Rs 887.16 apiece.
Block Deals
Vodafone Idea: Ghisallo Master Fund LP bought 19.04 crore shares (0.39%), Citigroup Global Markets Mauritius sold 19.04 crore shares (0.39%) at Rs 12.27 apiece.
Pledge Share Details
Adani Power: Promoter Gautam S. Adani & Rajesh S. Adani (On Behalf of S.B. Adani Family Trust) revoked a pledge for 14.87 crore shares on May 7.
*Veranda Learning Solutions:*Promoter Kalpathi S Aghoram, Kalpathi S Ganesh, Kalpathi S Suresh created a pledge of 2 lakh shares each between May 2 to May 6.
Trading Tweaks
Moved out of short-term ASM framework: Aegis Logistics, Lux Industries.
Moved into short-term ASM framework: Tejas Networks.
Ex/record dividend: GM Breweries.
Ex/record AGM: GM Breweries.
F&O BAN
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