Sensex, Nifty Edge Higher As Realty Stocks Gain; Infosys, HDFC Bank, RIL Lead

Avenue Supermarts Q4 FY23 (Consolidated figures, YoY)

• Revenue up 21% at Rs 10594.11 crore. (Bloomberg estimate: Rs 10469.41 crore)

• Net profit up 8% at Rs 460.13 crore. (Bloomberg estimate: Rs 438.81 crore)

• Ebitda up 4% to Rs 771.51 crore. (Bloomberg estimate: Rs 703.74 crore)

• Margins at 7.3% versus 8.4%. (Bloomberg estimate: 6.7%)

Tata Motors Q4 FY23 (Consolidated, YoY)

• Revenue rose 35% to Rs 1.06 lakh crore (Bloomberg estimate: Rs 1.02 lakh crore)

• Ebitda rose 58% to Rs 13,114 crore (Bloomberg estimate: Rs 12,352.71 crore)

• Ebitda margin stood at 12.4% vs 10.6% (Bloomberg estimate:  12.08%)

• Net Profit at Rs 5,408 crore vs Rs 1,033 crore loss (Bloomberg estimate: Rs 3,558.46 crore)

• The board recommended a final dividend of Rs 2 per share for the fiscal ended March 2023.

Hindustan Petroleum Q4 FY23 (Consolidated, YoY)

• Revenue 10.67% at Rs 1.08 lakh crore (Bloomberg estimate: Rs 1.01 lakh crore)

• Ebitda up 82.83% at Rs 5,129.74 crore (Bloomberg estimate: Rs 4072.60 crore)

• Ebitda margin at 4.75% vs 2.87% (Bloomberg estimate: 4%)

• Net profit up 78.77% at Rs 3,608.32 crore (Bloomberg estimate: Rs 162.40 crore)

Colgate-Palmolive (India) Q4 FY23 (Consolidated, YoY)

• Revenue up 3.79% at Rs 1,350.63 crore (Bloomberg estimate: Rs 1,343.15 crore)

• Ebitda up 5.23% at Rs 451.9 crore (Bloomberg estimate: Rs 408.06 crore)

• EBitda margin at 33.46% vs 33% (Bloomberg estimate: 30.4%)

• Net profit down 2.27% at Rs 316.22 crore (Bloomberg estimate: Rs 280.10 crore)

• The board declared the second interim dividend of Rs 21 per share for fiscal 2023. The record date for the dividend has been fixed as May 20, and it will be paid on and from June 8.

DLF Q4 FY23 (Consolidated, YoY)

• Revenue down 5.89% at Rs 1,456.06 crore (Bloomberg estimate: Rs 1,583.93 crore)

• Ebitda up 8.38% at Rs 398.35 crore (Bloomberg estimate: Rs 504.48 crore)

• Ebitda margin at 27.36% vs 23.75% (Bloomberg estimate: 31.8%)

• Net profit up 40.45% at Rs 569.6 crore (Bloomberg estimate: Rs 565.42 crore)

• The board recommended a dividend of Rs 4 per share for the financial year 2022-23.

Indian Overseas Bank Q4 FY23 (Standalone)

• Net interest income up 41.41% at Rs 2,276.11 crore

• Net profit up 17.69% at Rs 650.07 crore

• GNPA ratio at 7.44% vs 8.19%

• NNPA ratio at 1.83% vs 2.43%

• The board approved raising Rs 2,000 crore during financial year 2023-24—Rs 1,000 crore e through issue of equity shares, and another Rs 1,000 crore through Basel III compliant Tier II bonds.

Indraprastha Gas Q4 FY23 (Consolidated, YoY)

• Revenue up 53.28% at Rs 4,061.63 crore (Bloomberg estimate: Rs 3,720.80 crore)

• Ebitda down 6.83% at Rs 466.28 crore (Bloomberg estimate: Rs 482.80 crore)

• Ebitda margin at 11.48% vs 18.89% (Bloomberg estimate: 13%)

• Net profit down 7.76% at Rs 397.51 crore (Bloomberg estimate: Rs 372.90 crore)

Great Eastern Shipping Co. Q4 FY23 (Consolidated, YoY)

• Revenue up 58.92% at Rs 1,455.98 crore

• Ebitda up 119.39% at Rs 847.04 crore

• Ebitda margin at 58.18% vs 42.14%

• Net profit up 282.04% at Rs 721.94 crore

• The board declared a fourth interim dividend of Rs 9 per share, with a total outgo of Rs 128.49 crore for the year ended March 2023.

APL Apollo Tubes Q4 FY23 (Consolidated, YoY)

• Revenue up 5.13% at Rs 4,431.09 crore (Bloomberg estimate: Rs 4,621.62 crore)

• Ebitda up 21.34% at Rs 322.90 crore (Bloomberg estimate: Rs 317 crore)

• Ebitda margin at 7.29% vs 6.31% (Bloomberg estimate: 6.86%)

• Net profit up 14.27% at Rs 201.82 crore (Bloomberg estimate: Rs 210.17 crore)

• The board recommended a final dividend of Rs 5 per share for the financial year 2022-23.

Kennametal India Q4 FY23 (YoY)

• Revenue up 4.07% at Rs 255.7 crore

• Ebitda down 28.4% at Rs 30.5 crore

• Ebitda margin at 11.93% vs 17.34%

• Net profit down 42.01% at Rs 15.6 crore

• The board declared an interim dividend of Rs 20 per share for the fiscal 2023, with record date fixed as May 25.

Dish TV India Q4 FY23 (Consolidated, YoY)

• Revenue down 21.45% at Rs 504.82 crore

• Ebitda down 95.73% at Rs 15.04 crore

• Ebitda margin at 2.98% vs 54.85%

• Net loss narrows to Rs 1,720.62 crore from Rs 2,031.99 crore loss.

U.S. stock futures declined, whereas the picture for Asian stocks was mixed. Japanese shares opened higher, while benchmarks in Australia and South Korea dropped along with futures for Hong Kong.

Stocks and bonds slipped in the U.S. on Friday as investors boosted bets on the Federal Reserve’s interest-rate hikes. The S&P 500 ended the week down 0.3%, while the Nasdaq 100 eked out a 0.6% advance.

Early trading hours on Monday saw much of the action in emerging-market currencies. The baht climbed as pro-democracy parties won a resounding victory in Thai elections, and the rand rallied after South Africa moved to ease tensions with the U.S.

Inflation concerns persist, with a preliminary University of Michigan sentiment survey showing consumers expect prices to rise at a 3.2% annual rate over the next five to 10 years, a 12-year high. In China, inflationary pressure has been in retreat, raising speculation that the central bank may ease monetary policy.

The yield on the 10-year Treasury note in the U.S. was trading at 3.44%. Crude oil prices fell below the $74 mark, while Bitcoin advanced above $27,000 level.

At 8:18 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 0.25% at 18,276.5.

Domestic benchmark indices reversed early losses to close with gains, supported by advances in banking and auto stocks.

The Indian rupee continued its downward trend against the U.S. dollar as a stronger greenback attracted investor attention.

Foreign investors were net buyers for the twelfth straight day and bought equities worth Rs 1,014.06 crore. On the other hand, domestic institutional investors remained sellers for a third day, and sold stocks worth Rs 922.19 crore, the NSE data showed.