Among sectors, buying was seen in the FMCG and Pharma, while selling was seen in the bank, capital goods, realty, IT, metal, PSU Bank, and oil & gas indices.
Indian benchmark indices ended with marginal losses in the volatile session on May 18. At close, the Sensex was down 109.94 points or 0.20% at 54,208.53, and the Nifty was down 19 points or 0.12% at 16,240.30.
ITC | CMP: Rs 266.50 | The stock ended in the green on May 18 ahead of its Q4 earnings. The FMCG major is expected to report a healthy growth of 10-12 percent on-year in consolidated profit after tax (PAT) for the fourth quarter of 2021-22. The company will declare its results on May 18. However, on a sequential basis, the profit is likely to remain flat. Experts opine that the decline in profit will be due to the year-on-year decline in in-home consumption and erosion of margins due to inflationary pressure on input costs. They expect the Kolkata-based cigarette-to-hotel conglomerate to report consolidated earnings of Rs 4,100–4,250 crore for the quarter under review.
Bharti Airtel | CMP: Rs 694.45 | The share price ended in the red on May 18 after the telecom major reported a 165 percent growth in consolidated net profit at Rs 2,008 crore for the fourth quarter of FY2021-22 as against Rs 759 crore recorded a year ago, partially aided by a higher exceptional item of Rs 906 crore. On a sequential basis, the profit has inched up 142 percent from Rs 830 crore earned during the October–December period. Consolidated revenues rose 22 percent on-year to Rs 31,500 crore as compared to a revenue of Rs 25,747 crore registered in the year-ago quarter. Research firm Jefferies has kept the ‘buy’ rating on the stock with a target at Rs 880 per share as the company delivered strong growth in Q4 on the back of tariff hikes. Brokerage house Nomura has maintained a buy rating on the stock with a target at Rs 855 per share as the Q4 was in-line as a better show from India wireless and homes offsets weaker Africa.
Indian Oil Corporation | CMP: Rs 118.20 | The scrip fell 5 percent after the company reported a 31.4 percent decline in its net profit for Q4FY22 to Rs 6,022. While the net profit declined sequentially, the company reported the highest ever net profit for the year ended March 2022. The state-run oil marketing company reported revenue of Rs 2,06,461 crore during the quarter under review, as compared to Rs 1,63,733 crore logged in the corresponding quarter of the previous financial year.
DLF | CMP: Rs 325 | The scrip ended over 2 percent lower on May 18 after the company reported a 16 percent year-on-year decline in consolidated net profit at Rs 405.3 crore for the quarter ended March. Investors, however, seem to be impressed with the strong pre-sales bookings in the residential segment during the quarter. DLF reported pre-sales booking of Rs 2,700 crore for the quarter, up 158 percent on-year.
Ruchi Soya Industries | CMP: Rs 1,192.15 | The share price surged 10 percent on May 18 after the board of directors of the company approved a business transfer agreement (BTA) with Patanjali Ayurved (PAL) to acquire the food retail business undertaking of PAL which consists of manufacturing, packaging, labelling and retail trading of certain food products along with manufacturing plants located at Padartha, Haridwar, and Newasa, Maharashtra, as a going concern on a slump sale basis.
YES Bank | CMP: Rs 13.90 | The scrip gained over 4 percent on May 18. Cerberus, JC Flowers are in talks to buy 80% in ARC as both may pay 15% of asset value for ARC (asset reconstruction company) stake. The lender is going to transfer Rs 50,000 crore bad debt to ARC, reported CNBC-TV18 quoting sources.
Indian Overseas Bank | CMP: Rs 17.70 | The scrip jumped over 4 percent after the net profit of the bank jumped 57.9% to Rs 552.4 crore against Rs 349.8 crore (YoY). NII was up 14.7% at Rs 1,609.5 crore against Rs 1,403.2 crore (YoY). Its gross NPA came in at 9.82% against 10.4% (QoQ) while net NPA came in at 2.65% against 2.63% (QoQ).
Delta Corp | CMP: Rs 226.60 | The stock price fell over 6 percent on May 18 after the Group of Ministers (GoM) unanimously decided to recommend levying 28 percent goods and services tax (GST) on casinos, online gaming, and race courses, sources told CNBC-TV18. The tax will be imposed on initial betting and the gaming amount as the group is not in favour of levying GST on every bet or the winning amount, they added.
Aditya Birla Fashion | CMP: Rs 280.80 | The stock ended in the green on May 18. Aditya Birla Fashion & Retail has posted a consolidated net profit of Rs 43.59 crore in the quarter ended March 2022 versus a loss of Rs 137.6 crore in the same quarter last fiscal. Revenue was up 25.3% at Rs 2,283 crore versus Rs 1,821.6 crore, YoY.
Trident | CMP: Rs 49.70 | The stock ended in the green on May 18. The board meeting of Trident will be held on May 30, 2022, to consider and approve the standalone and consolidated audited financial results of the company for the quarter and fiscal year ended March 31, 2022. Further, the board shall also consider raising funds by non-convertible debt instruments along with warrants, convertible securities other than warrants or foreign currency convertible bonds, or such other securities including Non-Convertible Debentures.
Sandip Das
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