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Delhi News

RIL, Adani Ent, HDFC, Airtel, BoB, IOC

Business Standard


Stocks to Watch on Tuesday, May 16: Asia-Pacific shares are trading mixed on Tuesday. Hong Kong’s Hang Seng index climbed 0.72 per cent in early trade, while the Shanghai Composite was marginally lower. In Japan, the Nikkei 225 rose 0.74 per cent, while South Korea’s Kospi advanced 0.37 per cent. 


At 7:40 AM, SGX Nifty was up 45 points at 18,449.

China’s industrial output data for April, however, came lower than expected at 5.6 per cent. Markets were pricing-in growth of 10.9 per cent.

Overnight, the S&P 500 added 0.3 per cent, while the Dow Jones Industrial Average advanced 0.14 per cent. The tech-heavy Nasdaq Composite led gains, rising 0.66 per cent.

Here is a list of stocks that will be in focus today, May 16:

Q4FY23 earnings today


Bharti Airtel, LIC Housing Finance, Max Healthcare Institute, Bank of Baroda, Indian Oil Corporation, Jindal Steel & Power, JK Paper, Creditaccess Grameen, Alicon Castalloy, Amber Enterprises India, Aurionpro Solutions, Automotive Axles, Chemplast Sanmar, EIH Associated Hotels, Excel Industries, Granules India, Indo Rama Synthetics (India), Jubilant Ingrevia, Kajaria Ceramics, Kaynes Technology India, Metropolis Healthcare, Morepen Laboratories, MPS, Mukand, Navneet Education, Oberoi Realty, Paras Defence And Space Technologies, Prakash Industries, Redington, Safari Industries (India), Shanti Educational Initiatives, Sirca Paints India, Siyaram Silk Mills, Triveni Turbine, TV Today Network, V-Mart Retail.

March quarter results reaction


Suryoday Small Finance Bank: It posted a net profit of Rs 38.9 crore in fourth quarter ended March 2023 (Q4FY23) as against a net loss of Rs 48.1 crore in Q4FY22. The lender’s net interest income rose by 43.5 per cent year-on-year to Rs 210 crore, while other income rose by 69.5 per cent YoY to Rs 33.92 crore.

PVR Inox: Multiplex firm PVR Inox Ltd, on Monday, reported a widening in consolidated net loss at Rs 333 crore for the March quarter. The company reported a net loss of Rs 105 crore a year ago. The company’s consolidated total revenue from operation rose by 113 per cent to Rs 1,143 crore for the March quarter as compared to Rs 536 crore in the year-ago period.


Berger Paints: The company, on Monday, posted a consolidated net profit of Rs 186 crore for the March quarter, down 15 per cent from Rs 221 crore posted a year ago. The company’s consolidated revenue from operation rose by 11.7 per cent YoY to Rs 2,444 crore.

Pfizer: Drug firm Pfizer, on Monday, posted a consolidated net profit of Rs 130 crore for the March quarter, higher by 3 per cent YoY. Total income increased to Rs 604 crore as compared with Rs 567 crore in the year-ago period.


Karur Vysya Bank: Karur Vysya Bank, on Monday, posted a 59 per cent rise in net profit at Rs 338 crore for Q4FY23, compared to Rs 213 crore during the same time in FY22. The bank’s gross non-performing assets (NPA) in Q4 FY23 declined to 2.27 per cent (Rs 1,458 crore) as compared to 6.03 per cent (Rs 3,431 crore) a year ago. 

News reactions


Reliance Industries, ONGC: The government has cut windfall tax on petroleum crude to zero from Rs 4,100 per tonne with effect from May 16, according to a government notification. The windfall tax on petrol, diesel and aviation turbine fuel (ATF) was left unchanged at zero.

HDFC: Mortgage lender HDFC will raise up to Rs 8,000 crore by issuing bonds on a private placement basis to shore up its resources. The unsecured redeemable non-convertible debentures (NCDs) issue will have a base size of Rs 3,000 crore with an option to retain over-subscription of up to Rs 5,000 crore.


HCL Technologies: The information technology company has expanded its long-standing partnership with SAP. As part of the expanded collaboration, HCLTech has become a customer of and a global strategic service partner for SAP SuccessFactors Human Experience Management Suite (SAP SuccessFactors HXM Suite).

Adani Enterprises: The Ministry of Finance, on Monday, differed with market regulator Sebi over Adani-Hindenburg row, and said it stands by its reply to Parliament in July 2021. Government had then stated that Securities and Exchange Board of India was investigating some Adani Group companies.


Wipro: It has announced that its FullStride Cloud Studio has partnered with Google Cloud’s Rapid Migration Program (RaMP) to help clients accelerate their journey to the cloud and pursue a migration strategy anchored in business outcomes. 

Indiabulls Housing Finance: The company’s Board of Directors will meet on May 22 to consider issuance of secured and/or unsecured bonds, in one or more tranches to raise funds. It will also consider and approve audited financial results of the company for the quarter and financial year ended March 31, 2023.


Ultratech Cement: Ultratech Nathdwara Cement, the company’s wholly owned subsidiary commissioned a brownfield cement facility with annual capacity of 0.8 million tonnes in Neem Ka Thana, Rajasthan. The company’s total grey cement manufacturing capacity now stands at 129.95 million tonnes per annum.

NIIT: The company bought remaining 10 per cent stake in RPS Consulting for a fixed consideration of Rs 15 crore, and a performance based earnout consideration of up to Rs 3.71 crore, payable over the next two years. NIIT now owns 100 per cent stake in RPS Consulting.
Banswara Syntex: The Board has approved Kavita Gandhi as a Chief Financial Officer of the Company.


Jay Shree Tea: The Board of Director is scheduled to meet on May 23 to consider and approve financial results for Q4FY23, and scheme of arrangement, for demerger of Sholayar/Kallyar estates to a 100 per cent subsidiary Bidhannagar Tea Co. Private Ltd.

Somany Ceramics: The Board will meet of May 23 to consider issuance of non-convertible debentures (NCDs)/Bonds/other similar instruments on Private Placement basis. 


NTPC: The National Thermal Power Corporation (NTPC) Ltd will begin a feasibility study for a 130-MW floating solar power plant on Dumbur Lake in Tripura’s Gomati district.


Stocks in F&O ban: BHEL, Delta Corp, GNFC, Punjab National Bank



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Delhi News

As Fed hints at softening, markets rise 1%, gold rallies to record high


Domestic equity markets surged around one per cent Thursday tracking Asian stock markets after the US Federal Reserve hinted at softening its rate hike stance.

On Wednesday, the US central bank raised its benchmark overnight interest rate by a quarter of a percentage point to the 5-5.25 range, as expected by financial markets, but in doing so dropped from its policy statement language saying that it “anticipates” further rate increases would be needed.

The 30-share BSE Sensex rose 556 points, or 0.91 per cent, to end at 61,749.25 on Thursday. The broader Nifty surged by 166 points, or 0.92 per cent, to finish at 18,255.8.

Gold prices rallied to a record high of Rs 61,412 per 10 grams on a possible rate hike pause by the US Federal Reserve in its next meeting, analysts said.

“Following a widely expected rate hike by the Fed and consistent foreign support, the domestic equities resumed their bullish momentum, driven by gains across major sectors,” Geojit Financial Services Head of Research Vinod Nair said.

Kotak Securities Ltd Head of Equity Research (Retail) Shrikant Chouhan said with India’s growth indicators showing good signs of revival and crude oil prices staying lower, investors are betting big on local equities even as a haze over global economic growth persists.

Market participants said the surge in gold prices was supported by weakness in the dollar as investors bought gold on safe-haven appeal amid rising risks of recession in the US.

The positive sentiments among investors triggered a fresh bout of buying in banking stocks.

Bank Nifty index rose 372.75 points, or 0.86 per cent, to end at 43,685.45.

The top gainers on Nifty 50 were Adani Enterprises, Bajaj Finance, HDFC Ltd, SBI Life Insurance and HDFC Bank while the top losers were IndusInd Bank, Nestle, Power Grid and ITC.

Foreign portfolio investors (FPI) net bought Rs 1,414.73 crore of shares from the domestic market, according to the BSE’s provisional data

Market participants said the surge in gold prices was supported by weakness in the dollar as investors bought gold on safe-haven appeal amid rising risks of recession in the US.

“The interest rate decision by the US Fed and the commentary which came after that has led to the rise in gold prices,” Commtrendz Research’s Co-founder and CEO Gnanasekar Thiagarajan said

In FY2023, gold prices jumped by a massive Rs 8,000 in the domestic markets from Rs 52,000 to Rs 60,000 per 10 grams, giving a 15 per cent return.

“Going ahead, gold still looks lucrative in terms of ROI (return on investments) from a safety perspective where the inflation remains high globally and the interest cycle, which is yet to ease, will also provide the push needed for gold to run and give 10-15 per cent return in FY24,” LKP Securities VP (research analyst) Jateen Trivedi said.

He expects gold prices to touch Rs 66,000-Rs 68,000 per 10 grams on base case performance before the end of FY24.

The rupee closed 2 paise up at 81.78 against the US dollar on Thursday as compared to the previous close of 81.80.





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Delhi News

LIC Housing Finance, Bharat Forge, Vedanta, Reliance Industries


Trends on SGX Nifty indicated a gap-up opening for the domestic markets.

New Delhi:

The domestic stock indices are likely to trade higher on Tuesday, taking cues from their Asian peers. Asian shares were in the green today as Japan’s Nikkei index rose 1.82 per cent, South Korea’s KOSPI moved 0.49 per cent higher, and Hong Kong’s Hang Seng index climbed 0.87 per cent. Trends on SGX Nifty indicated a gap-up opening for the markets back home. The Nifty Futures on Singapore Exchange, also known as the SGX Nifty Futures, rose 48.75 points or 0.32 per cent to 15,414.80.

The 30-share BSE Sensex had jumped 237 points or 0.46 per cent to close at 51,598 on Monday, while the broader NSE Nifty had moved 57 points or 0.37 per cent up to settle at 15,350.

Here Are Stocks To Watch During Today’s Session:

LIC Housing Finance: Mortgage player LIC HFL has raised its prime lending rate (LHPLR) by 60 basis points (bps). With this increase, the new interest rates, effective from June 20, on home loans will now start from 7.50 per cent, the company said.

Bharat Forge: The company said it would consolidate its electric vehicle (EV) business initiatives under Kalyani Powertrain (KPL), a wholly-owned subsidiary, for a better strategic alignment.

Vedanta: Mining mogul Anil Agarwal’s Vedanta Ltd has put on sale its copper smelter plant in Tuticorin, Tamil Nadu. The company sought initial bids, called an Expression of Interest (EoI), for the plant having capacity to produce 400,000 tonnes a year by July 4. The plant was shut four years after 13 people were killed in a police firing on protestors agitating against alleged pollution by the unit.

Reliance Industries: Market regulator SEBI has fined Reliance Industries (RIL) and two of its compliance officers for violating fair disclosure norms during Facebook’s $5.7 billion investment in its digital unit (Jio Platforms) in 2020.

Telecom stocks: The government has proposed to provide Rs 4,000 crore incentive to promote design-led manufacturing in telecom sector under the production-linked incentive (PLI) scheme.

Further, Indiabulls Housing Finance and RBL Bank are the two stocks in F&O (Futures and Options) ban period today.



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Delhi News

Paytm, Sapphire Foods, Vedanta, Zomato


Trends on SGX Nifty indicated negative opening for the domestic markets.

New Delhi: The domestic stock markets are expected to trade in red on Thursday, taking cues from the global markets. Asian stocks traded lower as Japan’s Nikkei fell 0.80 per cent, South Korea’s KOSPI was down 0.22 per cent and Shanghai Composite index dropped 0.37 per cent. Trends on SGX Nifty also indicated negative opening for the markets back home. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures plunged 0.60 per cent or 107.50 points to 17,879.50.

The benchmark BSE Sensex had ended 314.04 points or 0.52 per cent lower at 60,008.33 on Wednesday; while the broader NSE Nifty had declined by 100.55 points or 0.56 per cent to close at 17,898.65.

Here Are Stocks To Watch During Today’s Session:

Paytm: Paytm operator One97 Communications will be listed on the exchanges today. The issue price has been fixed at Rs 2,150 per share.

Sapphire Foods: KFC operator will also make its stock market debut today. The issue price has been fixed at Rs 1,180 per share.

Zomato: The restaurant aggregator and food delivery company is in talks to invest as much as $500 million in Grofers. The proposed deal marks an extension of its food delivery battle with Swiggy into the commerce segment. In a separate development, Zomato UK, a step-down subsidiary of the company, has been dissolved. 

Vedanta: The company has said it is evaluating a full range of options and alternatives including demerger(s), spin-off(s), strategic partnerships for unlocking value and simplification of corporate structure.

BPCL: The government is aiming to complete the privatisation of five to six state-owned firms, including Bharat Petroleum Corp Ltd, this fiscal, Secretary of the Department of Investment and Public Asset Management (DIPAM) Tuhin Kanta Pandey has said. Mr Pandey also said that the Centre aims to close the privatisation of BEML and Shipping Corp of India and list the insurance behemoth Life Insurance Corp (LIC) on local bourses by March 2022.



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