Share Market Highlights 10 May 2024: Sensex and Nifty rebound, led by Reliance Industries, ITC, Bharti Airtel

Tata Motors, Eicher Motors, Cipla, Bank of Baroda, ABB India, Union Bank of India, Polycab India, Bank of India, Thermax, Kalyan Jewellers, Aarti Industries, Cholamandalam Financial Holdings, Dr Lal Pathlabs, Piramal Pharma, Finolex Industries, Fine Organics Industries, Sapphire Foods, Syrma SGS Technology, V.I.P Industries, Dilip Buildcon, Ami Organics, TCI Express, Sharda Cropchem, Punjab and Sind Bank, Great Eastern Shipping, and Neuland Laboratories.

Earnings Post Market Hours

BPCL (Standalone, QoQ)

Revenue up 1.62% at Rs 1,16 lakh crore vs Rs 1,15 lakh crore (Bloomberg estimate Rs 1.21 lakh crore). 

Ebitda up 47.97% at Rs 9,213 crore vs Rs 6,226 crore (Bloomberg estimate Rs 8766 crore).

Margin up 251 bps at 7.9% vs 5.39%, (Bloomberg estimate 7.3%). 

Net profit up 24.34% at Rs 4224 crore vs Rs 3397 crore (Bloomberg estimate Rs 5,342 crore). 

Board recommended final dividend of Rs 21 per share. 

Bonus issue in the ratio of 1:1.

Note: Exceptional item of Rs 1798 crore. 

Abbott India (Consolidated, YoY)

Revenue up 7.14% at Rs 1439 crore vs Rs 1343 crore (Bloomberg estimate Rs 1476 crore). 

Ebitda up 17.71%at Rs 330 crore vs Rs 280.35 crore (Bloomberg estimate Rs 351 crore).

Margin up 205 bps at 22.93% vs 20.87% (Bloomberg estimate 23.8%). 

Net profit up 24.04% at Rs 287.06 crore vs Rs 231.42 crore (Bloomberg estimate Rs 278 crore). 

Recommended final dividend of Rs 410 per share. 

Intellect Design Arena (Consolidated, QoQ)

Revenue down 3.27% at Rs 614 crore vs Rs 634 crore (Bloomberg estimate Rs 631 crore). 

EBIT up 4.65% at Rs 101 crore vs Rs 96.67 crore (Bloomberg estimate Rs 100 crore). 

Margin up 124 bps at 16.48% vs 15.23%, (Bloomberg estimate 15.89%).

Net profit down 13.58% at Rs 73.35 crore vs Rs 84.88 crore (Bloomberg estimate Rs 90.77 crore). 

Mahanagar Gas (Consolidated, QoQ)

Revenue up 2.76% at Rs 1,613 crore vs Rs 1569 crore (Bloomberg estimate Rs 1,547 crore). 

Ebitda down 11.95% at Rs 395 crore vs Rs 449 crore, (Bloomberg estimate Rs 421 crore).

Margin down 410 bps at 24.49% vs 28.6%, (Bloomberg estimate 27.2%). 

Net profit down 20.46% at Rs 252 crore vs Rs 317 crore, (Bloomberg estimate Rs 297 crore). 

Recommended final dividend of Rs 18 per share. 

Hikal (Consolidated, YoY)

Revenue down 5.72% at Rs 514 crore vs Rs 545 crore. 

Ebitda up 7.32% at Rs 94.46 crore vs Rs 88.01 crore. 

Margin up 223 bps at 18.37% vs 16.14%. 

Net profit down 5.63% at Rs 33.97 crore vs Rs 36 crore. 

VST Tillers Tractors (Consolidated, YoY)

Revenue down 15.25% at Rs 273 crore vs Rs 323 crore. 

Ebitda down 15.25% at Rs 39.83 crore vs Rs 54.55 crore. 

Margin down 234 bps at 14.56% vs 16.9%. 

Net profit down 13.44% at Rs 34.75 crore vs Rs 40.15 crore.

Stocks to Watch 

One 97 Communications: Paytm has refuted media reports on its lending partners invoking loan guarantees due to repayment defaults. The company acts as a distributor of loans and does not provide a first-loss default guarantee or other loan guarantees to its lending partners.

Brigade Enterprises: The company will develop a residential project in Bengaluru, with a gross development value of Rs 660 crore. 

Adani Enterprises: The company’s Mauritius-based arm, Adani Global, acquired a 49% stake in UAE-based Sirius Digitech for $24,500. 

*Shyam Metallics:*The company’s stainless-steel sales in the month of April were at 6,886 per tonne, up 33.7% from the previous year. Aluminium foil sales also went up 22.1% at 1,338 metric tonnes and pellet sales were at 50,557 metric tonnes, down 62.2% YoY. 

Tata Steel: The company increases its stake in the arm of Indian Steel & Wire to 98.61%. 

Life Insurance Corp.: The company received a GST, interest and penalty order worth Rs 127 crore, including interest of Rs 114 crore. 

Solara Active: The company will raise Rs 450 crore via a rights issue.

IPO Offering

TBO Tek: The public issue was subscribed to 4.15 times on day 2. The bids were led by institutional investors (0.17 times), non-institutional investors (8.19 times), retail investors (10.01 times) and portion reserved for Employees (6.55 times). 

Aadhar Housing Finance: The public issue was subscribed to 1.48 times on day 2. The bids were led by institutional investors (2.05 times), non-institutional investors (1.94 times), retail investors (0.94 times) and portion reserved for Employees (3.59 times).

Block Deals

ICICI Lombard Insurance: Bharti Enterprises sold 38.5 lakh shares (0.75%) at Rs 1722.5 apiece, while ICICI Bank bought 21 lakh shares (0.42%), Axis Mutual Fund bought 4 lakh shares (0.08%), Morgan Stanley Asia Singapore Pte bought 4.5 lakh shares (0.09%), Goldman Sachs Singapore Pte bought 2.25 lakh shares (0.04%), Blackstone Aqua Master Sub-Fund bought 0.75 lakh shares (0.01%), and others at Rs 1722.5 apiece. 

Bulk Deals 

Nilkamal: Seetha Kumari bought 0.78 lakh shares (0.52%) at Rs 1870.2 apiece. 

Trading Tweaks

Moved into short-term ASM framework: Allsec Technologies, Cartrade Technologies, Future Consumer, 

Ex/record dividend: Aptech, HDFC Bank, Transformers and Rectifiers, Bank of Maharashtra, Ramkrishna Forgings, UCO Bank, DCB Bank.

F&O BAN

1 ABFRL

2 BALRAMCHIN

3 CANBK

4 GMRINFRA

5 IDEA

6 PEL

7 PNB

8 SAIL

9 ZEEL