IIFL

Closing Bell: Indian Markets Rebound After Losses

By the end of the day, many heavyweight sectoral indices had managed to recover their losses.

19 Apr, 2024 |
3:46 PM

Infosys Acquires German ER&D Firm in-tech for $480 Million

The deal is expected to be finalized in the first half of fiscal 2025, subject to regulatory approvals.

19 Apr, 2024 |
3:08 PM

Q4FY24 Preview: Reliance Industries: EBITDA seen at ₹425,702 Million, PAT at ₹ 190,501 Million

All segments are expected to do well, except O2C.

19 Apr, 2024 |
2:54 PM

JSW Steel taps loan worth $900 Million from eight foreign banks

JSW raised $500 million in April 2019 with a five-year bond at 5.95%, which is due for repayment this month.

19 Apr, 2024 |
2:37 PM

Q4FY24 Preview: HDFC Bank: NII seen at ₹287.4 Billion, PAT at ₹154.9 Billion

Weak performance likely over the December 2023 quarter.

19 Apr, 2024 |
2:31 PM

NTPC Green Energy inks pact with Indus Towers for RE projects

As part of its net zero promises, Indus Towers Ltd (ITL) plans to gradually increase its renewable energy portfolio to Giga Watt (GW) scale capacity.

19 Apr, 2024 |
2:28 PM

Inox Wind secures 210 MW wind power project from Hero Future

According to the order, the business will offer equipment as well as some additional services.

19 Apr, 2024 |
2:26 PM

Top Gainers / Losers
19 April , 2024 | 12:00 AM

Company	LTP(₹)	Change(%)
Bajaj Finance BAJFINANCE	7119.5	+226.30 (3.28%)
M & M M&M	2082.9	+57.95 (2.86%)
Maruti Suzuki MARUTI	12710.95	+305.95 (2.47%)
HDFC Bank HDFCBANK	1531.3	+36.60 (2.45%)

Top Gainers as per Nifty50

Company	LTP(₹)	Change(%)
Bajaj Finance BAJFINANCE	7122.3	+233.05 (3.38%)
M & M M&M	2082.9	+58.75 (2.9%)
Maruti Suzuki MARUTI	12710.65	+314.35 (2.54%)
JSW Steel JSWSTEEL	865.25	+21.00 (2.49%)

Top Gainers as per Nifty50

Company	LTP(₹)	Change(%)
Bajaj Auto BAJAJ-AUTO	8804.5	-216.80 (-2.4%)
HCL Technologies HCLTECH	1447.5	-19.35 (-1.32%)
Nestle India NESTLEIND	2437.7	-24.85 (-1.01%)
Divis Lab. DIVISLAB	3671.7	-37.20 (-1%)

Top Gainers as per Nifty50

Company	LTP(₹)	Change(%)
HCL Technologies HCLTECH	1447.9	-19.75 (-1.35%)
Nestle India NESTLEIND	2437.1	-25.65 (-1.04%)
TCS TCS	3827.45	-36.05 (-0.93%)
Larsen & Toubro LT	3519.25	-31.70 (-0.89%)

Top Gainers as per Nifty50

Earnings

Q4FY24 Preview: Reliance Industries: EBITDA seen at ₹425,702 Million, PAT at ₹ 190,501 Million

All segments are expected to do well, except O2C.

19 Apr, 2024 |
2:54 PM

Q4FY24 Preview: HDFC Bank: NII seen at ₹287.4 Billion, PAT at ₹154.9 Billion

Weak performance likely over the December 2023 quarter.

19 Apr, 2024 |
2:31 PM

Q4FY24 Review: Tata Communications: Near-term headwinds persist

The stock trades at 11.7x EV/Ebitda and analysts of IIFL Securities estimate 17% Ebitda Cagr over FY24-27. Maintain ADD

19 Apr, 2024 |
1:40 PM

Q4FY24 Review: Infosys: Weak guidance a reflection of state of IT demand

~18% correction in stock price recently has taken care of multiple de-rating while attractive dividend yield (~4%) should provide downside support to valuations. Hence, analysts of IIFL Securities maintain BUY, but expect its discount to TCS to remain elevated in near term.

19 Apr, 2024 |
1:08 PM

Q4FY24 Review: HDFC Life: Weak margins but FY25 outlook is positive

VNB margins were at 26.1% for Q4FY24, declining by 320bps YoY, driven by lack of operating leverage and change in new business profile. HDFCLI continues to focus on VNB growth driven by APE growth and is willing to trade incremental margins for better growth opportunities.

19 Apr, 2024 |
12:27 PM

Top Performing Funds


Aditya Birla SL PSU Equity Fund (G)	1 Yrs Returns 91.03	NAV 32.57
SBI PSU Fund (G)	1 Yrs Returns 88.58	NAV 29.3934
Invesco India PSU Equity Fund (G)	1 Yrs Returns 82.77	NAV 56.66
ICICI Pru PSU Equity Fund (G)	1 Yrs Returns 80.06	NAV 19.23
Quant Value Fund (G)	1 Yrs Returns 75.46	NAV 19.3539


DSP Credit Risk Fund (G)	1 Yrs Returns 15.17	NAV 39.7804
Nippon India Fixed Horizon-XLV-Sr.5 (G)	1 Yrs Returns 8.53	NAV 10.9209
TRUSTMF FMP - Series II (1196 Days) - Reg (G)	1 Yrs Returns 8.31	NAV 1089.3197
DSP Floater Fund (G)	1 Yrs Returns 8.29	NAV 11.8894
HDFC Nifty G-Sec Jun 2036 Index Fund - Reg (G)	1 Yrs Returns 8.24	NAV 11.0363


Quant Dynamic Asset Allocation Fund-Regular (G)	1 Yrs Returns 57.89	NAV 15.8001
JM Aggressive Hybrid Fund - (G)	1 Yrs Returns 50.09	NAV 108.0923
Quant Multi Asset Fund (G)	1 Yrs Returns 48.24	NAV 127.7077
ICICI Pru Retirement Fund - Hybrid AP (G)	1 Yrs Returns 46.95	NAV 21.94
Bank of India Mid & Small Cap Equity & Debt Fund (G)	1 Yrs Returns 45.72	NAV 33.53


Quant ELSS Tax Saver Fund - Regular (G)	1 Yrs Returns 60.06	NAV 366.4027
SBI Long Term Equity Fund (G)	1 Yrs Returns 58.45	NAV 377.1133
Motilal Oswal ELSS Tax Saver Fund (G)	1 Yrs Returns 55.98	NAV 42.2488
Bank of India ELSS Tax Saver (G)	1 Yrs Returns 52.74	NAV 152.82
ITI ELSS Tax Saver Fund (G)	1 Yrs Returns 51.08	NAV 21.1908


ICICI Pru Nifty PSU Bank ETF	1 Yrs Returns 76.57	NAV 69.78
Kotak Nifty PSU Bank ETF	1 Yrs Returns 76.19	NAV 690.64
Nippon India ETF Nifty PSU Bank BeES	1 Yrs Returns 76.08	NAV 77.03
ICICI Pru Nifty Financial Services Ex-Bank ETF	1 Yrs Returns 41.31	NAV 23.22
DSP Nifty Bank ETF	1 Yrs Returns 12.17	NAV 47.37

Blogs

LIC scripts a stellar NBP growth story in March 2024

While LIC may have struggled in FY24 overall, the turnaround is visible in the last few months.

19 Apr, 2024 |
9:43 AM

Biggest mutual fund AUM growth stories of last 4 years

Overall MF AUM fell in March, but retail shares further improved in the month.

18 Apr, 2024 |
11:02 AM

March 2024 trade deficit at $15.6 Billion touches 11-month low

The good news is that overall trade could push CAD to under 1% of GDP in FY24.

16 Apr, 2024 |
11:02 AM

Key mutual fund trends observed in March 2024

Overall MF AUM fell in March, but retail shares further improved in the month.

16 Apr, 2024 |
9:31 AM

WPI inflation scales 3-month high of 0.53% in March 2024

Despite the bounce in WPI inflation, the full year reading for FY24 was still in the negative.

16 Apr, 2024 |
9:29 AM

Leaders & Fund Managers Speak

Abhijit Patil, Co-Founder and COO, AjnaLens

In conversation with Sheetal Agarwal of IIFL, management of the company explains its strengths, growth strategy and listing plans.

Dr. Faruk Patel, Chairman & Director, KP Green Engineering Limited

Sheetal Agarwal of IIFL caught up with management of the company, which is launching India's largest SME IPO. Edited Excerpts:

John Verghese, Chief Financial Officer, Popular Vehicles and Services Limited

Sheetal Agarwal of IIFL in conversation with management of the IPO bound company. Edited Excerpts:

Anil Ghelani, CFA, Head - Passive Investments and Products at DSP Mutual Fund

Sheetal Agarwal of IIFL brings you an insightful conversation about the relevance of ELSS investments today. Edited excerpts:

Anurag Tantia, Executive Director, GPT Healthcare Limited

Sheetal Agarwal of IIFL chats with the management on the eve of the IPO.

Invest Right

Dixon Technologies: Gaining from industry consolidation

Pursuant to cut in growth expectations for Q4FY24 (Mgmt guides for QoQ drop in sales), including softness in Mobile EMS, analysts of IIFL Securities cut FY24 EPS by 7%. Ex-Mobile EMS, revenue is lowered by 4/7% and Ebitda by 8/10%, respectively for FY25/26, given analysts of IIFL Securities cautious view on rebound in consumption.

16 Apr, 2024 |
11:47 AM

Phoenix Mills: Revival in consumption encouraging

Trading occupancy for Indore mall was up marginally QoQ. The new Bangalore mall (Mall of Asia) has also witnessed a steady ramp up, albeit will be slower due to higher share of premium/luxury brands.

12 Apr, 2024 |
11:00 AM

Shyam Metalics: Well set to deliver steady growth

In stainless steel, longs capacity at Indore will expand to 220kt by FY26 while Sambalpur would see a new 500kt flats capacity (incl 200kt CR) by FY27.

12 Apr, 2024 |
10:47 AM

BSE: Firing on all cylinders

Its market share improved from 5.5% in Apr’23 to 8.5% in Mar’24. The exit ADTO stands at Rs90-100bn, implying a strong start to FY25. The Star-MF platform remains the preferred platform for MF distributors – FY24 volumes grew by 59% YoY to 421mn.

09 Apr, 2024 |
10:33 AM

JB Chemicals & Pharma: Small in size, but big enough to create a difference

JB targets to double CMO revenue from USD50mn to USD100mn over the next 3-5 years, driven by geographic expansion, on-boarding new clients, and adding new lifecycle products.

08 Apr, 2024 |
11:12 AM

ICICI Lombard General: Centralised strategy to drive expansion

While ILOM witnessed minor market share loss in the Motor segment last year, it has started to recoup the same with high growth in new private car segment. Presence of a multi-channel business model helped them navigate this business cycle. ILOM believes that with the new EoM regulations, industry CoR should improve; benefitting ILOM disproportionately.

05 Apr, 2024 |
11:50 AM

Editor's Choice

Chemicals: Early signs of recovery?

The spike in speciality chemicals exports could be due to deferment of orders to Q4 and seasonality. Specialty chemicals exports in Mar’24 surpassed the trailing 12-month average.

19 Apr, 2024 |
11:40 AM

Telecom: Upgrading Vodafone Idea and Indus Towers

Analysts of IIFL Securities expect Indus to reinstate dividend from FY25 as it again starts generating healthy FCF (dividend payout policy is 100% of FCF). The stock is attractive at 4.5%/7.2% FY25/26 dividend yield.

18 Apr, 2024 |
11:09 AM

Banking & Finance: Pull and push of structural vs. cyclical drivers of deposits

System deposit growth has picked up to 3.5% QoQ/13.5% YoY (12.9% ex. HDFC merger), thereby narrowing the gap vs loan growth to 340bps from 540bps YoY. Based on prequarterly updates, deposit growth is strong at 3-16% QoQ and 7-42% YoY, driving LDR improvement of 25-600 bps across banks. CASA ratio also improved 40-255bps QoQ on seasonality, but is still down 1-10ppt YoY. While some of the seasonal gains will reverse in Q1, with improving cyclical factors analysts of IIFL Securities expect 13-14% system deposit growth in FY25. HDFC, SBI and ICICI rank high on our ‘liability franchise scorecard’, Axis is improving and Kotak is deteriorating

18 Apr, 2024 |
10:32 AM

Insurance: A year of normalization with an eye on regulations

Analysts of IIFL Securities believe FY25 will be a year of normalization in Life as growth should revert to teens while margins would start witnessing stability with an upward bias

16 Apr, 2024 |
11:26 AM

Electronics Retail: Expanding Footprint to drive growth

Consumers have adopted Ecommerce differently across different categories; E-commerce share for Mobiles stands at 58% but for large household appliances, it is only 17%. In the latter, consumers prefer to go to a physical store to check out the look and feel of the product, discuss warranty and exchange, get priority on installation and so on. In recent times, there is a bit of reverse migration from e-commerce to brick-and-mortar stores in mobiles as well. Analysts of IIFL Securities believe that brick-and-mortar organised retail would still grow at ~14% even allowing for some share loss to online platforms.

16 Apr, 2024 |
11:14 AM

Utilities: Government gets gas IPPs under S/11

The scheme if extended for FY25, apart from gas IPPs, can also benefit gas importing / trading companies; assuming PLFs to increase to 30% (vs 14% in FY24), India would need to import additional ~5m MT LNG (25% more); GAIL (transmission + trading), PLNG (imports/trade) can materially gain from such imports; for every 1m MT incremental LNG imported, GAIL/PLNG may see 5-10% EPS upgrade; IEX may also gain from higher exchange volumes.

15 Apr, 2024 |
10:22 AM

Put Call Ratio
25 April , 2024 | 12:00 AM

Note : Put/Call contract in thousand

Script Name	Put	Call	Ratio
NIFTY	93,994	100,385	0.94
AARTIIND	2,553	3,807	0.67
ABB	424	893	0.47
ABBOTINDIA	8	35	0.24

All You need to know about markets

US October inflation tapers to 7.7% but MOM inflation is higher

Since March 2022, when the Fed hawkishness first manifested, the Fed has hiked rates by 375 basis points. However, till June 2022, inflation was on the ascendant, when the US consumer inflation peaked at 9.1%. Since then, the inflation has gradually tapered from 9.1% to 7.7%. While a 140 bps fall may not sound substantial, what is notable is that in October 2022, the consumer inflation was lower than the consensus street expectation.

M&M Financial Services hits upper circuit today, find why here?

Mahindra & Mahindra Financial Services (M&M Finance), which posted better-than-expected profits for the September quarter, increased by as much as 10% during early trade on Thursday.

Board of Steelcast recommends Second Interim Dividend?

Steelcast announced that the Board of Directors of the Company at its meeting held on 20 October 2022, has recommended a Second Interim dividend of Rs.1.35 per share (i.e.27%), subject to the approval of the shareholders

RBI to do pilot project on its digital currency this year

T. Rabi Sankar, the deputy governor of the Reserve Bank of India (RBI), announced on Wednesday that the central bank will introduce its digital currency as a pilot project this year.

How many Sectors are there to invest in Stock Market?

You can invest in 11 different sectors in the stock market. This type of industry categorization helps the portfolio manager create a diverse portfolio and allocate funds more efficiently.

What is nifty and sensex ?

Nifty and Sensex are benchmark index values for measuring the
overall performance of the stock market. Nifty is the Index used
by the National Stock exchange, and Sensex is the Index used by the Bombay Stock Exchange.