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May 08, 2023

*Big positive for liquor companies*
*United Spirits, Radico Khaitan, (Allied Blenders/ Pernod Ricard)*
Telangana announces price hike of 12-13% for IMFL segment - prestige
Hikes have been in the range of 16% for regular/popular segment
Telangana contributes approx 12% of IMFL volumes for India alcobev
Analysts: UNSP - ~9-10% of revenues from Telangana, big market
This exchange between Warren Buffett and Charlie Munger is golden—lessons for building wealth and living a better life:
Buffett:
"Write your obituary and try to figure out how to live up to it. For business, You just want to make sure you don't make any mistakes that take you out of the game or come close to taking you out of the game. You should never have a night when you're worried about investing. You should spend a little bit less than you earn."
2 lessons Buffett said learned from Tom Murphy:
"You can always tell someone to go to hell tomorrow."
"Praise by name, criticize by category."
Buffett continued:
"I've never known anybody who was kind that died without friends. But I've known plenty of people with money that died without friends."
Munger:
"It's so simple: you spend less than you earn. Invest shrewdly. Avoid toxic people and toxic activities. Try to keep learning all your life. And do a lot of deferred gratification.
If you do all of those things, you are almost certain to succeed.
And if you don't, you're going to need a lot of luck. And you don't want to need a lot of luck. You want to go into a game where you're very likely to win without having any unusual luck."
Buffett added:
"You need to know how people can manipulate other people and you need to resist the temptation to do it yourself."
Munger agreed vehemently:
"Oh yes, the toxic people who are trying to fool you, lie to you, or who aren't reliable in meeting their commitments—a great lesson in life is to get them the hell out of your life. And do it fast."
Buffett:
"And do it tactfully, too, if possible. But do get them out of your life."
*News Update:*
MSCI will lower the free float of two of India's Adani Group companies, Adani Total Gas and Adani Transmission in its May index review, the financial index provider said on Friday.
MSCI now sees the Adani Total Gas' free float at 14% and Adani Transmission at 10%, from 25%.
(MSCI holds approx. 2.3 crore shares in Adani Total Gas and Adani Trans. However news already expected as during previous meeting, MSCI already indicated about the change in free float in both stocks)
*Result Calendar 08.05.2023*
AARTIIND, ANDHRAPAP, APARINDS, APOLLOPIPES, AVADHSUGAR, *BSOFT*, *CANBK*, *CARBORUNIV*, CGPOWER, CRAFTSMAN, *EXIDEIND*, HAPPSTMNDS, HFCL, HINDMOTORS, INDIANB, KALPATPOWR, *KANSAINER*, *MGL*, MMFL, *PIDILITIND*, STERTOOLS, UGARSUGAR, *UPL*, VIPIND
*BIRLASOFT*
Rupee revenue expected at Rs 1169 crore versus Rs 1221 crore,
EBIT expected to be seen at Rs 132 crore versus Rs (13) crore
EBIT margin expected to be seen at 11.35% versus (1.11%)
Net profit expected to be seen at Rs 105 crore versus Rs (16) crore
*CANARA BANK*
NII expected at Rs 9005 crore versus Rs 7005 crore
EBIT expected to be seen at Rs 7365 crore versus Rs 2493 crore
EBIT margin expected to be seen at 53.45% versus 35.58%
Net profit expected to be seen at Rs 3158 crore versus Rs 1666 crore
*CARBORUNDUM*
Revenue expected at Rs 1153 crore versus Rs 869 crore
EBITDA expected to be seen at Rs 158 crore versus Rs 110 crore
EBITDA margin expected to be seen at 13.73% versus 12.76%
Net profit expected to be seen at Rs 89 crore versus Rs 57 crore
*EXIDE*
Revenue expected at Rs 3550 crore versus Rs 3405 crore
EBITDA expected to be seen at Rs 395 crore versus Rs 400 crore
EBITDA margin expected to be seen at 11.13% versus 11.76%
Net profit expected to be seen at Rs 230 crore versus Rs 223 crore
*MGL*
Revenue expected at Rs 1679 crore versus Rs 1671 crore
EBITDA expected to be seen at Rs 286 crore versus Rs 256 crore
EBITDA margin expected to be seen at 17.06% versus 15.32%
Net profit expected to be seen at Rs 189 crore versus Rs 172 crore
*PIDILITE INDUSTRIES*
Revenue expected at Rs 2733 crore versus Rs 2507 crore
EBITDA expected to be seen at Rs 473 crore versus Rs 401 crore
EBITDA margin expected to be seen at 17.33% versus 16.00%
Net profit expected to be seen at Rs 298 crore versus Rs 254 crore
*UPL*
Revenue expected at Rs 17,028 crore versus Rs 15,861 crore
EBITDA expected to be seen at Rs 3790 crore versus Rs 3380 crore
EBITDA margin expected to be seen at 22.26% versus 21.31%
Net profit expected to be seen at Rs 1590 crore versus Rs 1547 crore
*Q4FY23 EARNING CALENDAR 09.05.2023*
*APOLLOTYRE*, BIRLACORPN, CASTROLIND, CHALET, ELANTAS, EVEREADY, FIVESTAR, GANESHHOUC, GODREJAGRO, HATSUN, *IGL*, JMFINANCIL, JPPOWER, KSB, LATENTVIEW, *LUPIN*, MATRIMONY, NAZARA, *NUVOCO*, POLYMED, RAIN, RAYMOND, RELINFRA, *SCI*, SHEMAROO, *SRF*, TDPOWERSYS, WESTLIFE
*News Headlines*
• India Grid Trust to consider raising of debt through various sources
• Apple India business grew in double digits YoY, set quarterly record: Cook
• Unlikely weather in the north hits AC, ice cream, soft drink business
• Bank of India Q4 net more than doubles to Rs 1,350 cr on improvement in NII
• EV sales across categories see yearly rise in April, shows FADA data
• Paytm Q4 results: Revenue rises 51%, loss narrows to Rs 168 crore
• India witnesses 18% surge in weekly cyber-attacks in Jan-Mar 2023: Report
• Lupin to acquire French pharma company Medisol for around Rs 160 crore
• ABFRL to acquire controlling stake in TCNS Clothing for Rs 1,650 crore
• Federal Bank Q4 profit up 67% at Rs 903 cr
• Marico Q4 results: Net profit up 20.3% to Rs 302 cr, revenue rises 3.6%
• Tips Industries signs global music deal with Sony Music Publishing
• TVS Motor partners with KidZania for motor racing for young riders in India
• Britannia Q4 Results: Cons PAT surges 47% YoY to Rs 559 crore, sales up 13%
• Muthoot Microfin Q4 net profit nearly doubles to Rs 102 crore
• Banks, NBFCs are going to lead the economy higher: Ajay Bagga
• TVS Credit to focus on enhancing leveraging data and technology
• Healthtech SaaS startup THB raises $20 million
• India considering allowing foreign investment in nuclear power
• SJVN bags 100 MW solar power project in Rajasthan
• India's forex reserves rise $4.53 billion to $588.78 billion
• India's commercial property sector is strong and stable: Report
• 6 GHz not used for 5G globally should be delicensed: BIF to DoT
• Foxconn's April sales fall 12% on slowing smartphone business
• CRO market still very much untapped in India: Cyndrella Carvalho
• 5G smartphone shipments grow 14% in India in Q1 2023: Report
• PropertyPistol raises Rs 45 crore from ICICI Bank, Baring Private Equity Partners
• Global gas supply to remain tight in 2023 amid lower Russia deliveries to Europe
• Piramal Enterprise Q4: NBFC posts net loss of ₹196 cr
• SJVN secures 100 MW wind power project in Gujarat
• Britannia reports 47% growth in net profit
• Adani Power Q4 PAT rises to ₹5,242 crore
• IndiGo announces additional flights in violence-hit Manipur
• DCB Bank Q4 earnings: PAT up 25% YoY, NII rises 27%
• Coal ministry aims to complete 67 FMC projects by 2027
• Ajanta Pharma Q4 earnings: Net profit down 19% in Q4, R&D expenses up 7%
• ACME Group and Indraprastha Gas join hands for green hydrogen opportunities
• ONGC appoints Manish Patil as director of human resources
• Marico re-appoints Saugata Gupta as MD & CEO for two years
• 360 One Wam reports 14% PAT growth in FY23
• Shopify to Lay Off 20% as It Sells Logistics Business to Flexport
• Manappuram Finance clarifies: ED action against promoter, not company
*MARKET ROUNDUP 08/05/2023

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