Market Highlights

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Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

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April 24, 2023

• *IOL CHEM PHARMA (390)*
• *While Indians lead the world's leading companies, the vast majority are poor* Economic expert and former Governor of Reserve Bank Y. It is unfortunate that it is in India. Venugopal Reddy opined. He said that what came to America was not a banking crisis, but an international monetary crisis. It is not an easy thing to come out of this quickly. He analysed, 'Even though India is a better country than other countries, from the point of view of the people, it is not so fair'. YV Reddy worked as the Chairman of the 14th Economic Commission and also worked in IMF, World Bank and other financial institutions.
• *News Headlines*
• • RBI allows HDFC Bank to meet priority sector goal in 3 years post-merger.
• • RBI expected to pivot to rate cuts by year-end after a long pause.
• • Angel One reports data breach, says no impact on client securities, funds.
• • Bank credit grows 15.7%; deposits increase 10.2%, shows RBI data.
• • Demand outstrips supply to push residential rents 15.3% YoY: Magicbricks.
• • ITC surpasses HDFC's m-cap to become 7th most valued listed company.
• • Fintech companies in talks to decide on rules for self-regulation.
• • Delhi to get more EVs as PFC sanctions Rs 633 cr loan for cabs, 3-wheelers.
• • With $100 bn in 2022, India biggest recipient of money from overseas.
• • Export, demand slowdown may hurt Schaeffler India's near-term prospects.
• • Airlines must get new altimeters to ensure no interference from 5G: Telcos
• • IMF likely to have erred on India's growth forecast, says RBI paper
• • RIL net profit rises 19% to Rs 19,299 crore in Q4 to highest ever
• • Shrinking engineering exports to UAE, China led to overall dip in FY23
• • US on track to issue over a million visas to Indians this year: Official
• • Alphabet CEO Sundar Pichai's pay soars to $226 mn on huge stock award
• • Torrent Power forms subsidiary for power generation, transmission biz.
• • Alliance Group & Urbanrise to invest Rs 21,600 cr in southern market.
• • Lawsuits lodged over state-backed Credit Suisse takeover.
• • IIFL Finance fully repays $400 million bonds.
• • Log9 commissions country's first commercial Li-ion cell manufacturing line.
• • JSW Energy arm commissions 51 MW wind project in Tamil Nadu.
• • Delhivery’s chief customer experience officer Abhik Kumar Mitra resigns.
• • Tim Cook, Sunil Mittal reaffirm commitment to work closely in India, Africa.
• • Indian regulator plans to allow mutual funds with performance-based fees.
• • The S&P Global Flash Eurozone purchasing managers' index (PMI) rose to 54.4 in April from 53.7 in March.
• • RBI gives HDFC Bank leeway in loan norms for smooth merger
• • Tata Trent enters occasion wear segment with new brand Samoh
• • Chinese EV dominance hastens end of petrol engine era
• • RBI resumes dollar buying, net purchases $254 m in Feb
• • PM Modi to flag off Kerala's first Vande Bharat Express on April 25.
• • CSIR, Oil India sign MoU to collaborate on energy research and technology.
• • Indian sweets brand Khoya raises over ₹6 crore from Riga Foods, others.
• • Hindustan Zinc Q4 net profit drops 12% to ₹2,583 cr, revenue down by 3%.
• • Coca-Cola Company proposes returning 35 acres of land to Kerala govt.
• • Bajaj Auto enters UK market, to launch its first bike on June 27.
• • UK Deputy PM Dominic Raab resigns over probe into bullying allegations.
• • Bank of Baroda to raise up to $4 billion fund via bonds.
• • Pakistan FM Bilawal Bhutto rules out ‘bilateral ties’ during SCO meet in India.
• • JioCinema signs Rohit Sharma as brand ambassador.
• • Russian arms sales to India stall due to fears over US sanctions.
• • India’s economy signals resilience even as exports dim outlook
• • G7 nations considering near-total ban of exports to Russia
• • ICICI Bank Q4FY23 results: PAT rises by 30% to ₹9,122 Cr, NII grew by 40.2%
• • SAIL-Bokaro Steel Plant and TCIL sign pact to pioneer 5G application
• • US President Joe Biden to visit India in September, thanks India for work at G20
• • China Strikes Energy Deals as Its Clout Grows in Middle East
• *Q4FY23 EARNING CALENDAR 24.04.2023*
• CENTURYTEX, *INDUSINDBK*, MAHABANK, MAHLOG, MAHSCOOTER, NELCO, *PERSISTENT*, TTML
• *INDUSINDBANK*
• • NII expected at Rs 4702 crore versus Rs 3985 crore,
• • EBIT expected to be seen at Rs 3764 crore versus Rs 1356 crore
• • EBIT margin expected to be seen at 54.33% versus 23.01%
• • Net profit expected to be seen at Rs 2064 crore versus Rs 1400 crore
• *PERSISTENT:*
• • Rupee revenue expected at Rs 2251 crore versus Rs 2169 crore,
• • EBIT expected to be seen at Rs 351 crore versus Rs 333 crore
• • EBIT margin expected to be seen at 15.61 % versus 15.36%
• • Net profit expected to be seen at Rs 272 crore versus Rs 238 crore
• *Q4FY23 EARNING CALENDAR 25.04.2023*
• ANANTRAJ, *AUBANK*, AXITA, *BAJAJ-AUTO*, BHARATWIRE, *DALBHARAT*, ELECON, HUHTAMAKI, *HDFCAMC*, MAHINDCIE, MAHLIFE, MHRIL, NAM-INDIA, *NESTLEIND*, RALLIS, SHEMAROO, *TATACONSUM*, TATASTLLP, VSTIND
• *Major U.S. listed stocks result calendar 24.04.2023*
• *Coca-Cola Company* (Pre market) (Sector- Food Beverages)
• *Koninklijke Philips N.V.* (Pre market) (Sector- Healthcare)
• *Cadence Design Systems, Inc.* (Post Market) (Sector- Technology)
• *Alexandria Real Estate Equities, Inc.* (Post Market) (Sector- Realty)
• *Brown & Brown, Inc.* (Post Market) (Sector- Financials)
• *Packaging Corporation of America* (Post Market) (Sector- Basic Materials)
• *World Market*
• Dow + 22
• Nasdaq + 13
• Dax + 86
• Nikkei + 75
• Hangseng - 50
• SgxNifty + 26 (17677)
• Dowfut - 76
• Nasdaqfut - 33
• Crude Oil 81.08
• Dollar Index 101.41
• *Stocks Ban In F&O*: NIL
• *STOCKS TO WATCH*: RELIANCE, MACROTECH DEV, ICICI BANK, KERNEX MICRO, TAYLORMADE, DR. REDDY’S, GUJARAT IND, TANFAC IND, IIFL FINANCE, YES BANK
• Reliance: Q4 Cons Net Profit 193b Rupees Vs 162b (YoY); 158b (QoQ) || Q4 Revenue 2.16t Rupees Vs 2.11t (YoY); 2.21t (QoQ)
• Macrotech Developers: Q4 Cons Net Profit 7.4b Rupees Vs 5.35b (YoY); 4.04b (QoQ) Q4 Revenue 32.5b Rupees Vs 34.45b (YoY); 17.74b (QoQ) Co Approve Dividend Of 2 Rupees Per Share
• ICICI Bank: Q4 Sl Net Profit 91.2b Rupees Vs 70.2b (YoY); 83.11b (QoQ) Q4 Revenue 310b Rupees Vs 226.7b (YoY); 285b (QoQ) Q4 Gnpa 2.81% Vs 3.07% (QoQ) Q4 Nnpa 0.48% Vs 0.55% (QoQ) Co Declared Dividend Of 8 Rupees Per Share
• Kernex Microsystems (India): Co Got Supplementary Agreement For NCR/Kavach A&B Tender To Letter Of Acceptance Worth 2.69b Rupees
• Taylormade Renewables: Co Receives Letter Of Intent Worth 1.45b Rupees
• Dr. Reddy's Lab: Co Announces The Launch Of Treprostinil Injection In The U.S
• Gujarat Industries Power: Co Approved Procurement Of Imported Coal For 500 MW Surat Lignite Power Plant || Co Approved Deliberation Of EPC Contract For Pooling Sub-Station -2 At Gujarat
• Tanfac Industries: Q4 Sl Net Profit 224m Rupees Vs 71m (YoY); 162m (QoQ) Q4 Revenue 1.15b Rupees Vs 671m (YoY); 987m (QoQ) Co Recommended Dividend Of 6.5 Rupees Per Equity Share
• IIFL Finance: Co Duly Repays $400 Million Maiden Dollar Bonds Issue On Maturity
• YES Bank: Q4 Sl Net Profit 2b Rupees Vs 3.67b (YoY); 515m (QoQ) Q4 Revenue 62b Rupees Vs 49b (YoY); 58.72b (QoQ) Q4 Gnpa 2.17% Vs 2.02% (QoQ) || Q4 Nnpa 0.83% Vs 1.03% (QoQ)
• *Stocks To Watch*
• HDFC Bank: The bank received certain clarifications from RBI with regard to the merger with HDFC. The banking regulator has not granted the lender any exemptions on requirements related to its cash reserve ratio, statutory liquidity ratio, and liquidity coverage ratio for the merger.
• HDFC Asset Management Company: The company received the final approval from markets regulator SEBI for change in control from HDFC to HDFC Bank. The move was necessitated due to change in co-sponsor of HDFC Mutual Fund, on account of amalgamation of HDFC with and into HDFC Bank.
• Mahindra & Mahindra Financial Services: The company raised Rs 682 crore via allotment of non-convertible debentures on private placement basis.
• Maruti Suzuki India: The company has recalled 7,213 Baleno RS vehicles, manufactured between Oct. 27, 2016 and Nov. 1, 2019, over possible defect in vacuum pump assisting the brake function.
• Union Bank of India: The board will meet on April 26 to consider the bank’s capital plan. The plan proposed to raise equity capital via further public offer, rights issue, private placements, and issue of Basel III compliant Additional Tier 1 bonds and Tier 2 bonds.
• Wipro: The company's board of directors will consider the proposal over its meeting on April 26-27. The decision regarding buyback of equity shares will be communicated on April 27.
• *Who’s Meeting Whom*
• Accelya Solutions India: To meet investors and analysts on April 26.
• Syngene International: To meet investors and analysts on April 27.
• *Trading Tweaks*
• Price Band Revised From 5% To 20%: GHCL
• Move Into Short-Term ASM Framework: Black Box
• Move Out Short-Term ASM Framework: Bombay Dyeing & Manufacturing Company, Harsha Engineers International, Hindustan Foods
• *Money Market Update*
• Rupee closed 0.07% higher against the U.S. dollar at Rs 82.09 on Friday, compared to Thursday’s close of 82.16.