Stocks To Watch on May 18: The Nifty futures contract traded on the Singapore Exchange indicates a positive start to domestic equities. The contract was trading at 18,277, up 45 points or 0.25% from the previous close.
Q4FY23 earnings
State Bank of India, ITC, InterGlobe Aviation, Zydus Lifesciences, UNO Minda, United Spirits, Ramco Cements, Arvind, PI Industries, Gland Pharma, Transport Corporation of India, Tata Elxsi, Gulf Oil Lubricants India, Bata India, RITES, Sumitomo Chemical India, PNB Housing Finance, Syrma SGS Technology, Krishna Institute of Medical Sciences, Clean Science and Technology, Shalby, Container Corporation of India, LT Foods, GAIL (India), Gujarat Narmada Valley Fertilizers & Chemicals, GR Infraprojects, Hindustan Construction Co, Hindustan Foods, IG Petrochemicals, Jet Airways (India), Likhitha Infrastructure, PTC India Financial Services, PSP Projects, Sharda Motor Industries, Tasty Bite Eatables, Thomas Cook (India), Transpek Industry, Trident, Ujjivan Financial Services, Universal Cables, Vindhya Telelinks.
MTAR Technologoies: The company, on Wednesday, reported Q4FY23 net profit at Rs 31.07 crore, up 56.89 per cent from Rs 19.80 crore reported last year. Its net sales jumped a massive 99.23 per cent to Rs 196.40 crore vs Rs 98.58 crore in March 2022. Ebitda, too, registered a gain of 79 per cent year-on-year (YoY).
Whirlpool of India: Consumer durables maker Whirlpool of India Ltd on Wednesday reported a 24.58 per cent decline in its consolidated net profit at Rs 63.71 crore for the fourth quarter ended March 2023. Its revenue from operations was down 2 per cent to Rs 1,672.65 crore during the quarter under review against Rs 1,706.91 crore in the corresponding period of the previous fiscal.MM Forgings: Its net profit jumped 310.5 per cent to Rs 30.6 crore in the recently concluded quarter as against PAT of Rs 7.5 crore in Q4FY22. Total income increased 20 per cent YoY to Rs 393 crore.
JK Tyre: The net profit of the company surged to Rs 111.56 crore in Q4FY23 from Rs 38.22 crore reported last year. It beat Bloomberg estimate of Rs 79.2-crore profit. Its total revenue was up 10 per cent YoY to Rs 3,632.47 crore; Ebitda gained 65 per cent YoY to Rs 376.2 crore; and Ebitda margin expanded to 10.45 per cent vs 6.9 per cent YoY.
Honeywell Automation India: The company’s revenue grew 27.2 per cent YoY to Rs 849.68 crore, lower than Bloomberg estimate of Rs 910.04 crore. While Ebitda was up 58.99 per cent at Rs 138.8 crore, margin increased to 16.34 per cent vs 13.07 per cent. The net profit increased 54.16 per cent to Rs 112.03 crore (Bloomberg estimate: Rs 104.68 crore).
New Delhi Television (NDTV): The Board has approved a proposal to seek the permission of Ministry of Information & nBroadcasting for launch of nine news channels in different Indian languages in phases.
HDFC Bank: The Reserve Bank of India has given approval to SBI Funds Management Ltd to acquire up to 9.99 per cent stake in HDFC Bank. SBIFML has been advised by the RBI to acquire the shareholding in the Bank within a period of six months i.e. by November 15, 2023.
Vedant Fashions: Ravi Modi Family Trust, one of the promoters of Vedant Fashions, plans to sell up to 16.99 million equity shares of the company (representing 7 per cent of the total euity share capital of the company) on May 18 and May 19, 2023. The floor price for the offer shall be Rs 1,161 per share, which is nearly 7 per cent lower than the stock’s closing price on the BSE on Wednesday.
SpiceJet: The Supreme Court on Wednesday gave SpiceJet time till July 18 to pay the settlement amount to Credit Suisse in the $24-million dispute. Credit Suisse told the court that while SpiceJet had made some payments, an outstanding amount of around $4.4 million is yet to be paid.
Fertiliser stocks: The likes of Chambal Fertilisers, Gujarat State Fertilisers and Chemicals, Deepak Fertilisers and Petrochemicals, National Fertilisers, and Nagarjuna Fertilizers & Chemicals will be in focus today as the Union Cabinet on Wednesday approved a Rs 1.08 trillion subsidy for the ongoing kharif or monsoon season.
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