PremiumIndia's factory output, inflation data along with major Q4 earnings of IT companies alongside US jobs data and other global trends will dictate the market this week. TCS, Infosys and HDFC will be among the heavyweights that will be declaring their Q4 results this week.
Ajmera Realty & Infra India Limited (ARIIL) recorded a sales value of INR 140 crores in Q4 FY23, the quarter registered an increase of 10% as compared to the Rs. 128 crores in Q3 FY23. The carpet area sold by ARIIL was 69,209 Sq.ft. in Q4 FY23 which was an incremental growth of 9% from the 63,595 Sq. ft in Q3 FY23. Robust sales and a good construction pace have resulted in firm growth of 35% YoY in collections for FY23. The Company firmly believes that its strong cash generation will pave the way for business development prospects and debt deleveraging, thereby enhancing growth visibility
The noise around ‘one or two’ edtech firms could pose significant issues for the entire sector, and unless inflated valuations correct, sanity will not prevail in the industry, warned Ronnie Screwvala, co-founder of the learning platform UpGrad and a serial entrepreneur.
“One or two players have given the entire sector such a bad name," Screwvala said in an interview while drawing a distinction between K-12 education and UpGrad’s focus on upskilling and professional development courses.
Education startups broadly focus on the K-12 (kindergarten to Class 12) segment, test preparation (coaching for engineering, medical and other competitive exams), and higher learning. (Read More)
Singapore-based investment firm Temasek will acquire an additional 41 per cent stake in Manipal Health Enterprises, to take majority control of the Bengaluru-based firm, as per a joint statement issued by the entities on Monday.
The companies did not share financial details of the deal.
Sources, however, said Temasek stake buyout would be for over ₹16,300 crore valuing Manipal Health Enterprises (MHE) at around ₹40,000 crore, making it the largest deal in the Indian healthcare sector.
Following the closing of the transaction, Manipal Group will hold about 30 per cent in Manipal Health Enterprises.
Sheares Healthcare Group, a wholly-owned subsidiary and independently-managed portfolio company of Temasek, will retain its existing 18 per cent stake, it said.
Besides, global alternative asset management firm TPG, which first invested in MHE through TPG Asia VI in 2015, will fully exit. (PTI)
Auto major Tata Motors was the top gainer on the Nifty 50 index, surging nearly 8 per cent in Monday's trade. At 9.59 am today, the shares of the Tata group stock were trading with gains of 7.62 per cent at ₹471 apiece on the National Stock Exchange.
This comes after an 8 per cent jump in the group's global wholesales that includes Jaguar Land Rover.
“Tata Motors is coming out of an 18-month consolidation phase with a breakout of the classical symmetrical triangle format that may lead to a fresh expansion phase. The pattern target is around 620, which is still 30% higher than the current level; therefore, investors should look for a buying opportunity at this counter. On the downside, 440-425 will act as a strong demand zone at any pullback," said Santosh Meena, Head of Research, Swastika Investmart Ltd. (Read More)
Apple Inc.’s personal computer shipments declined by 40.5% in the first quarter, marking a tough start to the year for PC makers still grappling with a glut of unsold inventory.
Shipments by all PC makers combined slumped 29% to 56.9 million units — and fell below the levels of early 2019 — as the demand surge driven by pandemic-era remote work evaporated, according to IDC’s latest report. Among the market leaders, Lenovo Group Ltd. and Dell Technologies Inc. registered drops of more than 30%, while HP Inc. was down 24.2%. No major brand was spared from the slowdown, with Asustek Computer Inc. rounding out the top 5 with a 30.3% fall.
The slowdown in consumer spending over the past year has led to double-digit declines in smartphone shipments and an accumulating glut among the world’s foremost memory chip suppliers. Samsung Electronics Co., which provides memory for portable devices as well as desktop and laptop PCs, last week said it’s cutting memory production after reporting its slimmest profit since the 2009 financial crisis. (Bloomberg)
India has reportedly halted trade talks with the United Kingdom over attacks at the Indian embassy. According to a report by The Times, India will not continue the trade talks until the UK government condemns Khalistani group--a Sikh extremist group that attacked the Indian embassy in March in London.
The Times report added that to restart the negotiation, the UK home office is planning to crack down on the Sikh extremists and supporters of Khalistani movement. (Read More)
Yes Securities Q4’23 Preview for Paytm: The securitiehas upgraded the target price to Rs. 700 (previously Rs. 600) and maintained its neutral rating for Paytm. The key highlights of the report is as follows:
> Q4’23 Revenue from operations projected to be Rs. 2,430 Cr. which is a Q/Q growth of 17.8%. This is a 12.2% upward revision from the previously published estimates on 6 Feb which implied Q4’23 revenue to be Rs. 2,166 Cr.
> EBITDA after ESOP (before other income is projected to be Rs. (248 Cr) this is an upward revision from previous estimate of Rs. (528 Cr)
> PAT is estimated at Rs. (307 Cr) an upward revision from Rs. (508 Cr)
Godrej Properties, a real estate developer, has reported a 19% increase in sales volumes for the fourth quarter, with a surge of 40% for the full financial year.
The jump was from 4.42 million sq ft to 5.25 million sq ft in Q4, and from 10.84 million sq ft to 15.21 million sq ft for the full financial year. The collections for Q4 FY23 stood at ₹3,822 crore, with a sequential growth of 127% and an annual growth of 52%. (Read More)
Gold prices fell about 1% to slip below $2,000 on Monday, after U.S. employment data pointed to a tight labour market and raised expectations of another rate hike by the Federal Reserve in May.
Spot gold was down 0.9% at $1,990.69 per ounce, as of 0402 GMT. U.S. gold futures slipped 1% to $2,006.30.
Gold slid due to "profit-booking on expectations of Fed rate hikes followed by Friday's strong U.S. job growth report and a steady dollar," Hareesh V, head of commodity research at Geojit Financial Services, said while noting a technical correction in prices.
The dollar index was 0.1% higher, making bullion expensive for overseas buyers. [USD/]
Friday's data from the U.S. Labor Department showed non-farm payrolls increased by 236,000 jobs in March, versus expectations of 239,000. The data also showed the unemployment rate dipped to 3.5% from 3.6% in the prior month. (Reuters)
India has been witnessing a spike in daily Covid-19 cases as the country reported 5,880 new infections in the last 24 hours, according to the Union Health Ministry data updated on Monday.
With this, the country's active caseload has gone up to 35,199.
So far, a total of 5,30,979 people have succumbed to the coronavirus infection in India, while 4,41,96,318 persons have been discharged since the pandemic began in 2020. (Read More)
More than 225-year-old company is going to second interim dividend for the financial year 2022-23. The Murugappa group company has informed Indian bourses that the board of directors of the company would consider and approve a second interim dividend in its board meeting scheduled on 10th April 2023 i.e. today. The company we are talking about is EID Parry.
Informing Indian bourses about the interim dividend, EID Parry said, "Pursuant to Regulation 29 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, notice is hereby given that a meeting of the Board of Directors of the Company (the "Board") will be held on Monday, April 10, 2023, to consider and approve Second Interim Dividend on equity shares, if any, for the Financial Year 2022-23." (Read More)
Edvenswa Enterprises Limited announced that its wholly owned subsidiary Edvenswa Tech Inc. in the United States has been awarded a new project in the strategic Robotic Process Automation (RPA) domain with a Big Four Consulting Firm. Edvenswa Enterprises Limited (EEL) has launched a targeted initiative to capitalise on the growing demand in global businesses to transform how workforce productivity is enhanced by enhancing it with digital workforce (Robotic Process Agents) reinforced with AI and also physical Robots to boost on-ground productivity.
Software technology termed robotic process automation (RPA) makes it simple to create, use, and manage software robots that mimic how people interact with computers and software. Software robots are capable of performing a broad range of user-defined tasks, including understanding what is on a screen, making the appropriate keystrokes, navigating systems, and identifying and extracting data. Software robots can reliably do the majority of boring and repetitive jobs without the need for interruptions. (Read More)
Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services: The hawkish pause delivered by the MPC against the market expectation of a dovish hike indicates that the central bank is prioritising growth now. If the economy achieves GDP growth of 6.5% and CPI inflation of 5.2% in FY 24 in tune with the MPC’s expectations, that would be a huge positive from the market perspective. We will have to wait for the eventual outcome, given the uncertainty in the global economic environment.
It appears that the market is bracing for a rally. The major positive is that FIIs have turned buyers having bought equity for ₹4740 crores during the last 6 trading sessions. Nifty has rallied 650 points from the March lows and with Bank Nifty batting for the bulls, the rally can sustain, particularly since the Q4 results starting April 12 are expected to deliver good numbers for the leading banks.
IT companies are expected to deliver soft Q4 numbers. So the guidance by the leading players will be keenly watched by the market.
Overall Indian valuations have turned reasonable now. The market construct favours systematic calibrated buying.
The banking sector is likely to post good numbers in the fourth quarter ended March 2023, and the total profit of public sector banks (PSBs) is expected to touch a record high of ₹1 lakh crore in FY23, aided by the decline in bad loans and healthy loan growth.
According to a senior bank official, the country's biggest lender State Bank of India (SBI) expected to earn a profit above ₹40,000 crore in the financial year ended March 2023. In the first nine months of the previous financial year, the bank's bottomline stood at ₹33,538 crore, higher than ₹31,675.98 crore recorded in FY22.
Similarly, other public sector lenders are also likely to report encouraging numbers, helped by a decline in non-performing assets (NPAs), moderation in slippages, double-digit credit growth and rising interest rate.
For the first nine months of 2022-23, all 12 PSBs have earned a cumulative profit of ₹70,166 crore compared to ₹48,983 crore in the year-ago period, an increase of 43 per cent.
"The trend would continue in the fourth quarter. It is fairly possible that PSBs would be earning around ₹30,000 crore in the fourth quarter and thus close the financial year 2022-23 with a profit of ₹1 lakh crore," Punjab & Sind Bank managing director Swarup Kumar Saha told PTI. (PTI)
The BSE Sensex closed 143 points higher at 59,832, while the Nifty closed 42 points higher at 17,599. On Thursday, after the gap-down opening, Nifty traded above 17,600 after making a day low of 17,502.85.
The market remained up throughout the day. Nifty closed with a higher high candle on the weekly chart. Intraday traders can look for long opportunities only above the resistance level of 17,660 if the closing comes above 17,660 in 15 min chart. Traders can look for fresh shorts only if nifty breaks the 17,450 level & remains below for 15 min to ensure short.
GCMMF, which sells dairy products under the Amul brand, is expecting 20 per cent growth in its revenue this fiscal to around ₹66,000 crore on rising demand, its MD Jayen Mehta said.
Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF) registered a turnover of ₹55,055 crore in 2022-23, up 18.5 per cent from the previous year.
In an interview with PTI, the GCMMF MD (in charge) said it had clocked a strong growth in revenue last fiscal, as demand for branded dairy products rose significantly post-COVID.
"We expect the sales momentum to continue across our product portfolio. Demand is shifting from unorganised to organised players," he said.
Mehta said the federation is also focusing on growing organic food and edible oil businesses, which are currently very small.
Asked about milk prices, Mehta said, "We have no plans to increase rates as of now".
He pointed out that input cost has risen by 15 per cent in the last one year, forcing the cooperative to hike retail prices to some extent last year. (PTI)
Saudi Aramco has told at least four customers in North Asia they will receive full contract volumes of crude oil in May, several sources with knowledge of the matter said on Monday, despite the extra output cut announced by the oil majors earlier this month.
Saudi Arabia, the world's top oil exporter, raised prices for the flagship Arab light crude it sells to Asia for a third month in May after the OPEC group planned to further reduce their production by 1.16 million barrels per day from May to the rest of the year. (Read More)
India's factory output, inflation data along with major Q4 earnings of IT companies alongside global trends will dictate the market this week. Additionally, foreign funds flow, movement of the rupee, and crude oil prices performance will also have their share of setting the tone. (Read More)
On account of relief rally in US Dollar Index, US stock market finished higher on the weekend session as all three key benchmark indices ended in green territory. In early morning deals on Monday, US dollar rate continue to climb as Dollar Index came close to 102 levels. SGX nifty today opened higher but soon witnessed profit booking. Australia, Hong Kong, New Zealand and the Philippines will observe stock market holiday today for public holidays.
Here we list out key triggers that may dictate Indian stock market today: (Read More)
STOCK IN FOCUS
Supreme Industries (CMP 2,614) - In view of higher realization supported by rise in PVC prices, healthy demand and government’s thrust on agriculture, we have our BUY rating on the stock with a Target Price of Rs2,900.
Intraday Picks
M&M (PREVIOUS CLOSE: RS1171) BUY
For today’s trade, long position can be initiated in the range of Rs1155-1165 for the target of Rs1190 with a strict stop loss of Rs1148.
TATASTEEL (PREVIOUS CLOSE: RS104) BUY
For today’s trade, long position can be initiated in the range of R103-104 for the target of Rs107 with a strict stop loss of Rs102.
HINDUNILVR (PREVIOUS CLOSE: RS2565) SELL
For today’s trade, short position can be initiated in the range of Rs2580-2590 for the target of Rs2538 with a strict stop loss of Rs2605.
Union minister Jitendra Singh, who holds Atomic Energy and Space portfolio among others, on Sunday said that nearly one-tenth (9 per cent) share of electricity is likely to be from nuclear sources by the year 2047 -- when India celebrates 100 years of its Independence.
This, he said, would help in getting closer to the commitment of achieving the net zero target by 2070.
Minister Singh made these remarks after holding a review meeting with a group of senior scientists from the Bhabha Atomic Research Centre (BARC), Department of Atomic Energy, in Mumbai.
At the COP26 summit in Glasgow in late 2021, Prime Minister Narendra Modi committed to an ambitious five-part "Panchamrit" pledge, including India's commitment to net-zero emissions by 2070.
India also committed to reaching 500 GW of non-fossil electricity capacity, generating half of all energy requirements from renewables, and reducing emissions by 1 billion tons by 2030. (ANI)
Adani Power on Sunday said that it has begun supplying electricity from its plant in Godda in Jharkhand to Bangladesh.
Adani Power Ltd (APL), a part of the diversified Adani Group, has commissioned the first 800 MW ultra-super-critical thermal power generation unit at Godda in Jharkhand. The plant has started with supplying 748 MW of power to Bangladesh, a company statement said.
The electricity supplied from Godda will significantly improve the situation in the neighbouring country as it will replace expensive power generated from liquid fuel, bringing down the average cost of power purchased, it stated.
“The Godda Power Plant is a strategic asset in the India-Bangladesh’s long-standing relationship," said S B Khyalia, CEO of Adani Power, in the statement.
It is the first power plant in the country, which has started its operations from Day One with 100 per cent Flue Gas Desulphurization (FGD), SCR and Zero Water Discharge, it stated. (PTI)
Larsen and Toubro Ltd, Afcons Infrastructure Ltd and JSW Infrastructure Ltd are among companies competing to build the ₹42,000 crore-International Container Transshipment Terminal in Great Nicobar, two people aware of the development said, even as the project faces environmental hurdles.
On Saturday, the National Green Tribunal stayed the ₹72,000 crore Great Nicobar Development Plan, which includes the transhipment hub. The project has faced opposition from environmentalists over potential damage to flora and fauna in the ecologically sensitive region. However, the government is keen to develop the mega terminal in a public-private partnership (PPP). (Read More)
Three major companies will be in focus in the holiday-shortened week of stock exchanges ahead of their Q4 results for FY23. These are among the top five most valued firms namely Tata Consultancy Services (TCS), Infosys, and HDFC Bank. The IT and banking sectors will witness flows from investors amidst their quarterly financial performance. Since these three firms are the top heavyweights in their respective segments, Buy and Sell can be seen accordingly in other related stocks. Other companies will follow suit in announcing their Q4 results.
The fourth quarterly results of FY23 are for the three-month period between January to March 2023. (Read More)
Vaishali Parekh of Prabhudas Lilladher has recommended three day trading stocks for today, here we list out full details in regard to those intraday stocks:
1] REC: Buy at ₹118.75, target ₹122, stop loss ₹117;
2] Voltas: Buy at ₹830, target ₹857, stop loss ₹818; and
3] M&M: Buy at ₹1171, target ₹1205, stop loss ₹1154. (Read More)
Tata Motors Ltd. has recorded an 8% increase in its global wholesale vehicle sales business in the March quarter of FY2023, even as car business, globally, is witnessing a lackadaisical phase in the wake of rising loan rates and the consequent weakening purchasing power among customers.
In an exchange filing, Tata Motors said its vehicle sales for the January-March period reached 3,61,361 units compared to 3,34,884 units in the same period of the previous fiscal, including sales of its luxury brand vehicles under Jaguar Land Rover. (Read More)
Major U.S. stock indexes ended higher on Thursday, helped by a rally in Alphabet shares as investors, worried about a slowing economy, looked to upcoming jobs data.
Alphabet Inc rallied 3.8% and Microsoft climbed 2.6%, with both providing more fuel than any other stocks for the S&P 500's gain for the session. Alphabet's Google unit plans to add artificial intelligence features to its search engine, the Wall Street Journal reported.
Adding to recent data hinting at a weak labor market, initial jobless claims fell to a seasonally adjusted 228,000 for the week ended April 1, versus expectations of 200,000 claims.
The Labor Department's data from the prior week was revised to show 48,000 more applications were received.
The S&P 500 climbed 0.36% to end the session at 4,105.02 points.
The Nasdaq gained 0.76% to 12,087.96 points, while the Dow Jones Industrial Average rose 0.01% to 33,485.29 points.
Wall Street has lost ground in recent days in response to signs of a slowing economy, including weak data on private payrolls and job openings earlier this week.
That marked a change from recent months, when investors cheered weak economic data on the basis that it might mean the Fed's interest rate hikes were working and that the Fed could ease up on its campaign to rein in decades-high inflation. (Reuters)
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