May 30, 2024
Stock Market

Stock Market Live Updates 24 April, 2024: Flat opening seen for Nifty, Sensex amid strong global cues


Tata Consumer Products (Consolidated, YoY)

Revenue up 8.51% at Rs 3,927 crore vs Rs 3,619 crore (Bloomberg estimate: Rs 4,003 crore). 

Ebitda up 23.04% at Rs 630 crore vs Rs 512 crore (Bloomberg estimate: Rs 614 crore). 

Margin up 189 bps at 16.03% vs 14.13% (Bloomberg estimate: 15.30%). 

Net profit down 22.53% at Rs 268 crore vs Rs 346 crore (Bloomberg estimate: Rs 343 crore). 

Board recommends dividend of Rs 7.75 per share. 

Exceptional loss of Rs 216 crore. 

ICICI Prudential (Consolidated, YoY)

Net premium income up 17.09% at Rs 14,788 crore vs Rs 12,629 crore. 

VNB Margin 21.46% vs 31.97%. 

VNB down 26.45% Rs 776 crore vs 1,055 crores. 

APE up 9.6% Rs 3,616 crore vs 3,299 crores. 

Net profit down 25.95% at Rs 174 crore vs Rs 235 crore (Bloomberg estimate: Rs 231 crore).

Board approved the final dividend of Rs 0.6 per share. 

Tata Elxsi (Consolidated, QoQ)

Revenue down 0.91% at Rs 906 crore vs Rs 914 crore (Bloomberg estimate: Rs 940 crore). 

EBIT down 4.49% at Rs 234 crore vs Rs 245 crore (Bloomberg estimate: Rs 279 crore).

Margin down 96 bps at 25.79% vs 26.76% (Bloomberg estimate Rs 29.7%). 

Net profit down 4.6% at Rs 197 crore vs Rs 206 crore (Bloomberg estimate: Rs 207 crore). 

Board declared dividend of Rs 70 per share. 

MCX (Consolidated, YoY)

Total income up 29.22% at Rs 199 crore vs Rs 154 crore.

Net profit up 1,512.29% at Rs 87.87 crore vs Rs 5.45 crore. 

360 ONE WAM (Consolidated, YoY) 

Total income up 97.92% at Rs 1,051 crore vs Rs 531 crore (Bloomberg estimate: Rs 477 crore). 

Net profit up 56.77% at Rs 243 crore vs Rs 155 crore (Bloomberg estimate: Rs 191 crore).

The board approved the interim dividend of 3.5 per share for financial year 2024‐25. 

Cyient DLM (Consolidated, YoY)

Revenue up 30.42% at Rs 362 crore vs Rs 277 crore (Bloomberg estimate: 361 crore). 

Ebitda up 18.96% at Rs 38.01 crore vs Rs 31.95 crore (Bloomberg estimate: Rs 37.2 crore).

Margin down 101 bps at 10.5% vs 11.51% (Bloomberg estimate: Rs 10.3%). 

Net profit up 71.7% at Rs 7.95 crore vs Rs 4.63 crore (Bloomberg estimate: Rs 23.85 crore). 

Huhtamaki (Consolidated, YoY) 

Revenue down 7.79% at Rs 610 crore vs Rs 661.5 crore (Bloomberg estimate: Rs 643.5 crore).

Ebitda down 19.33% at Rs 41.29 crore vs Rs 51.19 crore (Bloomberg estimate: Rs 37.2 crore). 

Margin down 96 bps at 6.76% vs 7.73% (Bloomberg estimate: 9.7%). 

Net profit down 26.73% at Rs 26 crore vs Rs 35.49 crore (Bloomberg estimate: Rs 39.2 crore). 

Earnings in Focus

Axis Bank Ltd., Hindustan Unilever Ltd., LTIMindtree Ltd., Dalmia Bharat Ltd., Macrotech Developers Ltd., The Indian Hotels Co., AU Small Finance Bank Ltd., Oracle Financial Services Software Ltd., Equitas Small Finance Bank Ltd., Syngene International Ltd., DCB Bank Ltd., Nippon Life India Asset Management Ltd., Supreme Petrochem Ltd., Chennai Petroleum Corp. and Anant Raj Ltd.

Stocks to Watch 

Mahindra and Mahindra Financial Services: The company approved raising the borrowing limit to Rs 1.3 lakh crore from 1.1 lakh crore by way of the issue of NCDs or any other securities or instrument in one or more tranches, subject to the approval of the shareholders of the company.

* NHPC:* The company signed a supplementary joint venture agreement with JV Partners of the National High Power Test Laboratory, i.e., NTPC, Powergrid, DVC, CPRI, and NHPTL, for the sale of a partial stake in NHPTL for a consideration of Rs 1.31 crore.

* Puravankara:* The company received bids to redevelop a residential project in Mumbai, Project GDV, estimated at Rs 2,000 crore.

* Ambuja Cement:* The company completed the acquisition of a 1.5 MTPA grinding unit in Tamil Nadu.

* Rama Steel Tubes:* The board approved the raising of funds up to Rs 500 crore by way of a further public offer.

* Shakti Pumps:* The company further invested Rs 5.08 crore in its wholly-owned subsidiary, Shakti

EV Mobility. The consolidated investment is Rs 32 crore.

* Dr Reddy’s Laboratories:* The company issued a voluntary recall of six lots of sapropterin dihydrochloride powder due to decreased potency.

* Lupin:* The USFDA classified the company’s Aurangabad facility as voluntary action indicated on its inspection from March 6-15.

* Sudarshan Chemical Industries:* The company introduced a new product, “Sumica Gold 42631,” for domestic and international markets.

* Gokaldas Exports:* The company approved the issue price of Rs 775 per share, which is a discount of 1.9% on the floor price of Rs 789.99 per equity share.

* Century Plyboards:* The company completed the disposal and transfer of the entire stake in Singapore-based unit CSPL. Century Ply Laos and Century Huesoulin Plywood Lao, both subsidiaries of CSPL, will also cease to be step-down subsidiaries of the company from the said date.

* SBI Cards:* The company launched the retail credit card SBI Card MILES.

* SEAMEC:* The company entered into an MoU with Zamil Offshore Services Company for an extension of the charter hire of vessel “SEAMEC SWORDFISH” for a further period of 30 days, with effect from April 24, 2024.

Summit Securities: The company entered into an agreement with Kojak Knits to sell Instant’s entire shareholding in its wholly owned subsidiary, Sudarshan Electronics and TV for Rs 2.27 сгоге.

* UCO Bank:* The company’s board will meet on April 29 to consider fund-raising.

* Sakuma Exports:* The company successfully entered a significant contract worth Rs 150 crore for the supply of sugar to the Northeast, West Bengal, and Bihar regions.

IPO Offering

JNK India: The public issue was subscribed to 0.49 times on day 1. The bids were led by institutional investors (0.67 times), non-institutional investors (0.25 times), and retail investors (0.48 times).

Bulk Deal

Waaree Technologies: Camellia Tradex bought 59,150 shares (0.54%) at Rs 1804.1 apiece. 

Block Deal

Bandhan Bank: Marshall Wace Investment Strategies – Eureka Fund sold 1.21 crore shares (0.75%) at Rs 180.8 apiece, while Societe Generale bought 1.21 crore shares (0.75%) at Rs 180.8 apiece, while Societe Generale bought 1.21 crore shares (0.75%) at Rs 180.8 apiece. 

Bank of Baroda: Societe Generale bought 3.26 crore shares (0.63%) at Rs 261.3 apiece, while Marshall Wace Investment Strategies sold 3.26 crore shares (0.63%) at Rs 261.3 apiece.

Manappuram Finance: Societe Generale bought 73.58 lakh shares (0.86%) at Rs 191 apiece, while Marshall Wace Investment Strategies sold 73.58 lakh shares (0.86%) at Rs 191 apiece. 

Trading Tweaks

Moved into short-term ASM framework: Automotive Stampings and Assemblies, Bajel Projects, IRM Energy, VA Tech Wabag. 

Price Band change from 20% to 10%: Tejas Networks. 

Price Band change from 10% to 5%: Sterling and Wilson Renewable Energy.

Ex/record special dividend: Huhtamaki India. 

Ex/ record stock split: Bharat Bijlee.

F&O BAN

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