ECONOMY

Share Market Live: Sensex, Nifty Volatile; Power, Energy Stocks Fall

10-Year Bond Yield Little Changed

  • Yield on the 10-year bond gained 1bps at 7.31%, during the session.

Source: Bloomberg

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Rupee Littlechanged Against Dollar

Source: Bloomberg

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Jubilant Foodworks Gains Most In Five Weeks After Jefferies Upgrades Stock To ‘Buy’

Shares of Jubilant Foodworks rose 5.5%, the most in five weeks.

  • The advance comes after Jefferies upgraded the stock from ‘hold’ to ‘buy’ and kept price target unchanged at Rs 580 apiece, an implied return of 24.88%.

  • Jefferies finds the valuations ‘palatable’ after the recent correction, notwithstanding concerns over economic slowdown, reduction in disclosure (quarterly SSG) and non-core investments.

  • Trading volume is twice the 30-day average. The company is scheduled to report its numbers for quarter-ended March on May 30.

  • Of the 30 analysts tracking the company, 19 maintain ‘buy’, five suggest ‘hold’ and six recommend ‘sell’. The overall consensus price of analysts tracked by Bloomberg implies an upside of 29.5%.

Source: Bloomberg, Jefferies Note

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Coal India Gains As Analysts Raise Target Post Q4 Beat

Shares of Coal India rose nearly 3%, the most in this week after the company reported net income for the fourth quarter that beat the average analyst estimate, post market hours on Wednesday.

  • Most analysts retained ‘buy’ and raised target citing improvement in topline outlook, led by pickup in volumes and rising e-auction prices. However, they flagged concerns over price hike policy, rising staff and ESG.

  • Trading volume is 2.6 times the 30-day average. Of the 27 analysts tracking the company, 22 maintain ‘buy’, two suggest ‘hold’ and three recommends ‘sell’. The return potential of the stock is 18%.

Source: Bloomberg, Exchange filing, Brokerage notes

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IndiGo Jumps Most In 15 Weeks After Q4 Results; Firm To Raise Ticket Price To Return To Profit

Shares of InterGlobe Aviation jumped 10%, the most in 15 weeks.

  • The company reported a net loss of Rs 1,680 crore compared to Rs 1,159 crore YoY, for the quarter-ended March post market hours on Wednesday.

  • The company also announced plans to raise ticket price to return to profit in the upcoming quarters.

  • JPMorgan has upgraded the stock to ‘overweight’ from ‘neutral’, after the results while Morgan Stanley reiterated ‘overweight’ and Citigroup retained ‘sell’.

  • The company expects FY2022-23 capacity to increase 55-60%.

  • Of the 25 analysts tracking the company, 14 maintain ‘buy’, four suggest ‘hold’ and seven recommend ‘sell’. The return potential of the stock is 19.9%.

Source: Bloomberg, Exchange filing, Brokerage notes

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Opening Bell: Sensex, Nifty Open Higher; Banks, Metals Gain

India’s stock benchmarks opened higher, aided by gains in banking and metal stocks amid recovery in Asian equities.

The S&P BSE Sensex rose 0.5% to 53,999.81. The Nifty 50 advanced by similar magnitude to 16,093.65.

The broader indices almost mirrored their larger peers. Fifteen of the 19 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Metal gaining 1.4%.

The market breadth was skewed in the favour of bulls. About 1,238 stocks advanced, 877 declined and 84 remained unchanged.

Trade Setup For Thursday

Key Earnings Estimates For Thursday

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Earnings Today

  • Hindalco Industries

  • Zee Entertainment

  • Berger Paints

  • Piramal Enterprises

  • Quess Corp

  • Motherson Sumi Systems

  • Page Industries

  • Muthoot Finance

  • NMDC

  • Motherson Sumi Wiring India

  • Colgate Palmolive

  • Bharat Dynamics

  • Bharat Rasayan

  • Cummins

  • INEOS Styrolution India

  • Insecticides India

  • India Glycols

  • Kirloskar Industries

Stocks To Watch

  • Tata Steel: The company acquired 3.55 lakh shares of Rs 10 each of wholly owned subsidiary Tata Steel Downstream Products at a premium of Rs 130.5 per share.

  • Vodafone Idea: The Government of India has received exemption from open offer to acquire 33.4% stake in the telecom company.

  • Aegis: Aegis Vopak terminals were successfully completed making it the largest independent tank storage company for LPG and chemicals in India.

  • Infosys: The company will collaborate with Palo Alto Networks to elevate the security-maturity of large enterprises and to help prevent the threat of cyberattacks on their critical infrastructure.

Earnings Post Market Hours

BPCL Q4 FY22 (Consolidated, YoY)

  • Revenue up 24% at Rs 1,23,217 crore

  • EBITDA down 6% at Rs 5,954 crore

  • EBITDA margin at 4.8% vs 6.3%

  • Net profit down 73% at Rs 2,803 crore

  • Recommended final dividend of Rs 6 per share

Coal India Q4 FY22 (Consolidated, YoY)

  • Revenue up 22.5% at Rs 32,706.77 crore

  • EBITDA up 41% at Rs 9,078.82 crore

  • EBITDA margin at 27.76% Vs 24.11%

  • Net profit up 46% at Rs 6,692.94 crore

  • Recommended final dividend of Rs 3 per share

Nalco Q4 FY22 (Standalone, YoY)

  • Revenue up 53.85% at Rs 4,340.82 crore

  • EBITDA up 71.46% at Rs 1,618.59 crore

  • EBITDA margin at 37.3% Vs 33.46%

  • Net profit up 9.6% at Rs 1,025.68 crore

Apollo Hospitals Enterprises Q4 FY22 (Consolidated, YoY)

  • Revenue up 24% at Rs 3,546 crore

  • Net profit down 46% at Rs 90 crore

  • EBITDA up 12% at Rs 463 crore

  • Margins at 13.1% vs 14.4%

  • Net profit down 46% to Rs 90 crore

InterGlobe Aviation Q4 FY22 (Standalone, YoY)

  • Revenue up 29% at Rs 8,021 crore

  • EBITDAR at Rs 172 crore vs Rs 648 crore

  • EBITDAR margin at 2.1% vs 10.4%

  • Net Loss of Rs 1,680 crore vs Rs 1,159 crore loss

Whirlpool of India Q4 FY22 (Standalone, YoY)

  • Revenue down 9.5% at Rs 1610.63 crore

  • EBITDA down 28.37% at Rs 135.84 crore

  • EBITDA margin at 8.43% vs 10.66%

  • Net profit down 35.7% at Rs 79.53 crore

  • Recommended final dividend of Rs 5 per share

Torrent Pharma Q4 FY22 (Consolidated, YoY)

  • Revenue up 10% at Rs 2,131 crore

  • EBITDA down 4% at Rs 561 crore

  • EBITDA margin at 26.3% vs 30%

  • Net loss at Rs 118 crore vs net profit of Rs 324 crore

  • Recommended final dividend of Rs 23/share

  • Approved issue of bonus shares in the ratio of 1:1

Bata India Q4 FY22 (Consolidated, YoY)

  • Revenue up 13% at Rs 665 crore

  • EBITDA up 44% at Rs 162 crore

  • EBITDA margin at 24.4% vs 19%

  • Net profit up 114% at Rs 63 crore

  • Recommended dividend of Rs 54.5 per share

Fortis Healthcare Q4 FY22 (Consolidated, YoY)

  • Revenue up 10% at Rs 1,378 crore

  • EBITDA up 12% at Rs 221 crore

  • EBITDA margin at 16.1% vs 15.8%

  • Net profit up 40% at Rs 87 crore

Religare Enterprises Q4 FY22 (Consolidated, QoQ)

  • Revenue up 15% at Rs 953 crore

  • Net loss at Rs 588 crore vs Rs 251 crore

  • EBIT profit at Rs 114 crore vs loss of Rs 108 crore

  • EBIT margin at 12% Vs -13%

Sensex, Nifty Set To Open Higher; BPCL, Coal India, Nalco, InterGlobe Aviation In Focus

Stocks in Asia rose on Thursday after the Wall Street advanced after Federal Reserve minutes struck a lesser-than-anticipated hawkish note.

Equities in Japan, Australia and South Korea gained. US futures fell after the S&P 500 recovered to log gains in a volatile session. The tech-heavy Nasdaq 100 outperformed.

The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, rose nearly 0.50% to 16,102 points as of 8:10 a.m.

Elsewhere, West Texas Intermediate crude rose 0.6% to $110.97 a barrel. Bitcoin hovered around $30,000.

. Read more on Markets by BloombergQuint.

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