Among sectors, capital goods, auto and IT indices fell a percent each, however, some buying was seen in the FMCG, metal, power and realty names
Indian equity benchmarks ended flat after a volatile session on May 2, with selling seen in the capital goods, auto and IT names. At close, the Sensex was down 84.88 points, or 0.15%, at 56,975.99, and the Nifty was down 33.40 points, or 0.20%, at 17,069.10.
HDFC | CMP: Rs 2,259 | The share price added over a percent on May 2 after the company reported a 16.4 percent year-on-year rise in net profit to Rs 3,700 crore for the quarter ended March, which was above analysts’ estimate of Rs 3,306.7 crore. The non-bank lender reported a 14 percent year-on-year growth in net interest income to Rs 4,601 crore, which was also above Street’s expectations of Rs 4,358.3 crore. It reported Rs 4027 crore NII a year ago. During the quarter, the lender approved 29% of home loans in volume terms and 13% in value terms to customers from the economically weaker section and low-income group (LIG). For the year ended March 2022, individual approvals and disbursements grew by 38% and 37% respectively compared to the previous year, the lender said. In the quarter, the non-individual loan book recorded growth, with a good pipeline of loans from lease rental discounting and construction finance, the lender added.
IndusInd Bank | CMP: Rs 1,017 | The stock price jumped over 3 percent after the bank reported a 51.2 percent year-on-year growth in its consolidated profit after tax (PAT) at Rs 1,400.5 crore against Rs 926.07 crore registered a year back. On sequential basis, profit inched up 12.8 percent from Rs 1,241.39 crore logged during the October-December period. The net interest income (NII), or the difference between the interest earned and interest expensed, for the private sector lender rose 12.7 percent on-year to Rs 3,985 crore as compared to the NII of Rs 3,534.61 crore registered in the year-ago quarter. Broking house CLSA has maintained “buy” rating on IndusInd Bank, with the target at Rs 1,200 a share, while Morgan Stanley has kept “overweight” rating and raised the target price to Rs 1,300.
Adani Wilmar | CMP: Rs 751.50 | The stock shed over 3 percent after the firm reported a 25.6 percent year-on-year decline in its consolidated net profit at Rs 234.3 crore for the quarter ended March. The edible oils major reported a 40.2 percent on-year rise in consolidated revenue from operations to Rs 14,960.4 crore for the quarter ended March. The sharp decline in net profit is on account of higher expenses in the quarter due to a surge in global sunflower oil prices and higher tax expenses.
IDBI Bank | CMP: Rs 45.35 | The scrip ended in the green on May 2. The bank clocked a massive 35 percent year-on-year growth in standalone profit for the quarter ended March 2022, largely driven by lower provisions with improvement in asset quality, but net interest income declined sharply due to the inclusion of interest on income tax refund in the corresponding quarter’s numbers. Standalone profit for the quarter stood at Rs 691 crore, up from Rs 512.2 crore a year ago, said the bank in its BSE filing, while its net interest income fell 25 percent to Rs 2,420.5 crore during the period due to a high base.
Meghmani Organics | CMP: Rs 140.90 | The stock surged over 12 percent after net profit of the company came in at Rs 102.2 crore against Rs 36 crore (YoY). Revenue jumped 75.3% at Rs 812 crore against Rs 463.1 crore (YoY). EBITDA was reported at Rs 133.8 crore against Rs 34.8 crore (YoY) while EBITDA margin came in at 16.5% against 7.5% (YoY).
Dwarikesh Sugar | CMP: Rs 123.50 | The scrip shed over 3 percent on May 2 despite the company reporting net profit which was up 23.6% at Rs 59.6 crore against Rs 48.2 crore (YoY). Revenue, however, was down 20.8% at Rs 475 crore against Rs 600 crore (YoY). EBITDA rose 24.3% at Rs 102.4 crore against Rs 82.4 crore YoY, while EBITDA margin came in at 21.6% against 13.7%.
Mahindra Holidays | CMP: Rs 259.50 | The stock price ended in the green after the firm posted consolidated net profit at Rs 16.2 crore against a loss of Rs 10.2 crore and revenue was up 16.6% at Rs 542.6 crore versus Rs 465.4 crore, YoY.
Coal India | CMP: Rs 187.60 | The scrip added over 2 percent after the firm posted a 15.6 percent growth in its supplies to the power sector in April’22 compared to the same month last year. With the intense demand for coal continuing unabated driven by an upward spiral in the electricity generation, the company pushed up supplies to power plants of the country to 49.7 million tonnes (MTs) in April. This is 6.7 MTs more supply compared to April’21, when the power sector’s despatch was 43 MTs.
Ajanta Pharma | CMP: Rs 1,802 | The stock price jumped over 4 percent on May 2. A meeting of the board of directors of Ajanta Pharma will be held on May 10 to consider audited financial results (consolidated & standalone) of the company for the quarter and year ended 31st March 2022 and audited financial statements (consolidated & standalone) for the year ended 31st March 2022. The board will also consider issue of bonus shares subject to approval by the shareholders of the company.
Tata Chemicals | CMP: Rs 1,036.35 | The share price jumped over 10 percent after the company reported a multi-fold jump in consolidated profit after tax at Rs 470.24 crore for the quarter ended March. The consolidated income from operations grew 32 percent during the quarter under review to Rs 3,481 crore, the Tata group firm said in a regulatory filing on April 29. In the same period a year ago, it stood at Rs 2,636 crore. For 2021-22, Tata Chemicals’ profit after tax on a consolidated basis was up 221 percent to Rs 1,400 crore, up from Rs 436 crore a year ago.
Sandip Das
`); } if (res.stay_updated) { $ (“.stay-updated-ajax”).html(res.stay_updated); } } catch (error) { console.log(‘Error in video’, error); } } }) }, 8000); })
