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25th May, 2022

Markets end another day in red

Published on: 3:48 pm

  • Indian equity markets ended another day in red today.  NSE Nifty ended the day down by around 99 points. BSE Sensex ended the day down by around 303 points.  Top gainers today were NTPC, HDFC Life, SBI life etc. Top losers today were Asian Paints, Adani Ports, Divi’s Lab etc.
  • Markets continue to be bogged down by negative sentiments regarding the state of the economy. Government is resorting to the route of curbing exports for controlling inflation in commodity prices. Increased government intervention in the economy comes with its own concerns. It can lead to macroeconomic instability. The prospect of a much larger and painful recession at both the local level and global level looks more real now. Read more

Metropolis Healthcare logs highest-ever revenue in FY22; registers 17% yoy growth in PAT

Published on: 3:43 pm

  • Metropolis Healthcare Ltd., one of the leading diagnostic service providers, has announced its audited consolidated financial results today for the quarter and financial year ended March 31, 2022.
  • The company has logged revenue of Rs1228.30 crore in FY22, up by 23% yoy against its previous close of Rs998 crore in FY21. Read more

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Clariant Chemicals logs PAT of Rs34 crore in FY22; stock tumbles ~3%

Published on: 3:29 pm

  • Clariant Chemicals (India) Limited, one of India's leading producers of pigments and pigment dispersions, reported a sales growth of 15%, at Rs839.50 crore, for FY22, as compared to Rs730.80 crore for the corresponding previous year.
  • The Company reported a profit after tax of Rs43.30 crore for the year ended March 2022, as against a profit after tax of Rs34 crore (excluding exceptional items) for the year ended March 31, 2021, registering a growth of 27% yoy. Read more

ICRA assigns A+ rating to Shree Pushkar Chemicals’ debt instruments; stock slips ~3%

Published on: 3:16 pm

  • Shree Pushkar Chemicals & Fertilizers Limited has informed that ICRA Limited has assigned a long-term rating of ‘ICRA A+’ to the company’s debt instruments.
  • The rating agency has given a ‘Positive’ outlook on the company’s debt instruments. While the Rating Committee of ICRA has assigned a short-term rating of ‘ICRA A1’. Read more

Asian Paints’ stock falls more than 7% today. Why?

Published on: 3:06 pm

  • Asian Paints’ stock has fallen by around 7% today. This decline has happened because of the announcement yesterday by Grasim that it will be increasing its capital expenditure in its paint business by around 10,000 crores over the next 2-3 years. Grasim is increasing this capital expenditure for increasing its production capacity. Grasim is an Aditya Birla Group company. It entered the paint business only in 2021.
  • Being part of Aditya Birla Group, Grasim is a company with deep pockets. Its entry and focus on the paints business will increase competition in the industry.  Asian Paints has currently almost 50% market share in the Indian paints market. With this increased capital expenditure by Grasim, there is a high probability that the market share of Asian paints will come down over the next few years. This expectation has caused the market price of Asian Paints to go down. Read more

Q4FY22 Preview: Hindalco Industries: Revenues seen at Rs19,236 crore, PAT at Rs2,177 crore

Published on: 2:51 pm

  • Result date: 26th May, 2022
  • Recommendation: Buy
  • Target price: Rs666
  • Source: IIFL Research
  • For the March 2022 quarter, Hindalco Industries (Hindalco) could report aluminium sales volume of ~325,000 tons (329,000 in Q4FY21 and 325,000 in Q3FY22) and copper volumes of ~100,000 tons (107,000 tons in Q4FY21 and 110,000 tons in Q3FY22) in its domestic business (standalone+Utkal). Consequently, its revenue could grow 33% over the year-ago quarter. Read more

Aarvi Encon climbs ~1.5% on receiving order worth Rs57 crore

Published on: 2:48 pm

  • In its regulatory filing, Aarvi Encon Limited informed that t Aarvi Encon FZE, UAE Wholly-Owned Subsidiary of AEL has been awarded an addendum work Contract from Rs4 crore to Rs57 crore (approx.) from a large EPC company for Manpower Outsourcing Services.
  • The current duration of the contract is valid up to July 2023. Read more

Dr. Reddy’s partners with Senores Pharma to launch Ketorolac Tromethamine Tablets USP

Published on: 2:00 pm

  • Dr. Reddy’s Laboratories Ltd., announced the launch of Ketorolac Tromethamine Tablets USP, 10 mg, a therapeutic generic equivalent of the reference listed drug Toradol Tablets, 10 mg in the U.S. market in partnership with Senores Pharmaceuticals, Inc.
  • The drug is approved by the U.S. Food and Drug Administration (USFDA). Read more

MTAR Technologies’ stock slips ~4% despite robust Q4 & FY22 numbers

Published on: 1:46 pm

  • MTAR Technologies Ltd. has announced its financial results for the fourth quarter and year ended March 31, 2022.
  • Revenue from Operations stood at Rs322 crore in FY22 as against Rs246.40 crore in FY21, a 30.7% yoy increase. Revenue for Q4FY22 was reported at Rs98.60 crore, up by 26.20% against Rs78.10 crore in Q3FY22.
  • EBITDA for FY22 was reported at Rs94.40 crore as against Rs83.10 crore in FY21, registering a growth of 13.60% yoy. Whereas EBITDA for Q4FY22 stood at Rs27.70 crore as compared to Rs22.80 crore in Q3FY22, up by 21.40% QoQ. Read More

Asian Granito logs revenue of Rs1,563.80 crore in FY22; stock skids ~3%

Published on: 1:27 pm

  • Asian Granito India Limited (AGL), one of the largest Luxury Surfaces and Bathware Solutions brands in the country has reported excellent financial performance in FY22.
  • For FY22, the company has reported consolidated net sales of Rs1,563.8 crore, registering a growth of 21% over the previous fiscal’s same period net sales of Rs1,292.3 crore. Revenue/Net Sales on a standalone basis were reported at Rs1,349.10 crore in FY22 as compared to Rs1,036.20 crore in FY21, up by 30.20% yoy. Read More

Choice International zooms ~2% as PAT for Q4FY22 grows 545% yoy; logs revenue of Rs93.40 crore

Published on: 1:11 pm

  • Choice International Limited announced its results for the quarter and financial year ended March 31, 2022.
  • The company has logged revenue of Rs286 crore in FY22, registering a growth of 61% yoy against the previous year. Revenue for Q4FY22 jumped 79% yoy at Rs93.40 crore against the previous corresponding quarter. Read more

KPIT Technologies acquires cloud-based vehicle diagnostics specialist SOMIT Solutions; stock tumbles

Published on: 12:19 pm

  • KPIT Technologies Ltd. has acquired cloud-based vehicle diagnostics specialist SOMIT solutions. SOMIT facilitates after-sales operations of high-tech luxury and new-age OEMs through its cloud-based vehicle diagnostics platform & expert consulting services.
  • SOMIT’s cloud-based platform brings in an intelligent and intuitive diagnostics solution that will intensify a service technician’s user experience and refine service quality by increasing the ratio of first-time-right repairs. Read more

Aster DM’s stock spurts ~11% as PAT jumps by a whopping 238% yoy in FY22

Published on: 11:21 am

  • Aster DM Healthcare’s counter jumped nearly 12% in today’s trade after the company announced its results for the quarter and financial year ended March 31, 2022.
  • Company’s revenue from operations logged growth of 14% yoy at Rs2,728 crore in Q4FY22, as against Rs2,391 crore in Q4FY21. While revenue for FY22 jumped 19% yoy at Rs10,253 crore as against Rs8,608 crore in FY21. Read more

Lumax skyrockets ~15% on clocking 197% yoy growth in PAT for FY22

Published on: 10:52 am

  • Lumax Industries Limited, a leader in automotive Lighting and illumination today announced its audited Financial Results for the quarter and year ended March 31, 2022.
  • The company has posted a revenue of Rs549 crore in Q4FY22 as compared to Rs504 crore in Q4FY21, up by 9% yoy. Revenue for FY22 stood at Rs1,751 crore as compared to Rs1,426 crore in FY21, registering a growth of 23% yoy. Read More

Government goes after inflation; all guns blazing

Published on: 10:48 am

  • In the last few weeks, the macroeconomic narrative appears to have suddenly changed. For over 2 years since COVID first surfaced in India, the narrative of the government and the RBI was centred around Growth. With inflation rising sharply and the US taking a hawkish stance, the Indian government has shifted narrative.
  • To understand the magnitude of the inflation problem, one has to only look at retail and wholesale inflation. Read more

Windlas Biotech bags EU-GMP certificate; stock trades flat

Published on: 10:24 am

  • Windlas Biotech Limited informed in its regulatory filing that it has now received the certificate of European Union Good Manufacturing Practices (EU-GMP) by the National Institute of Pharmacy and Nutrition, Hungary for the Plant-IV situated at Dehradun.
  • For this certification, the company had undergone an inspection between April 11 to April 13, 2022. Read more

Market opens in green territory; Nifty above 16,200 points

Published on: 10:09 am

  • Domestic market starts the day in green with marginal uplift in the highly volatile market. Sectoral indices Metal, Bank, and Financial Services sector opened nearly 1% higher followed by Pharma and FMCG with slight gains.
  • During opening bells, Sensex was trading at 54,331.40 points, up by 278.79 points or 0.52% against its previous close. Nifty traded 71.20 points higher at 16,196.35 points against its previous close. Read More

Cipla rated ‘Strong’ CRISIL’s sustainability rating 2022; stock adds ~1%

Published on: 10:00 am

  • Cipla Limited has been rated ‘STRONG’ in the Sustainability Yearbook 2022 released by CRISIL, a leading rating agency in India. Based on the fiscal 2021 data, CRISIL analyzed 586 companies across 53 sectors for over 350+ data points on Environment, Social, and Governance (ESG) components for evaluation.
  • Cipla stands among the top 5 companies in the manufacturing sector and has the highest ESG score amongst peers in the pharmaceutical sector. Read more

Titagarh Wagons climbs ~5% on securing order worth ~Rs7,800 crore from Indian Railways

Published on: 9:44 am

  • Titagarh Wagons Limited has received the letter of acceptance for an order for the manufacture and supply of 24,177 Wagons from Indian Railways consisting of 19,854 BCNA Wagons and 4,323 BOXNHL Wagons.
  • The total order value stands at Rs7,838 crore, excluding taxes. The company is required to execute orders over thirty-nine months.
  • This is the largest-ever order secured by the company since its incorporation in July 1997, which further consolidates the Group’s position as the leader in Wagon manufacturing in India. Read more

Indian markets more likely to open in the red than in the green today

Published on: 8:53 am

  • SGX Nifty is up by 0.51% at around 8:55 a.m. Indian time.  Indian markets are more likely to open in the red than in the green on the back of news of increased government intervention in the economy in the form of measures such as curbs on sugar exports.
  • US markets see another volatile day with technology stocks falling to new lows on fears of slowdown.
  • These fears were exacerbated by an email from Snap chat founder to the employees that macroeconomic slowdown will slow growth at the company.
  • This e-mail also said that the company may miss its revenue and earnings growth estimates in the second quarter because of this. Near term capitulation was almost visible in Nasdaq with Apple, Amazon & Meta falling like nine pins.
  • Dow Jones saw remarkable recovery from being down by 550 points to closing the day up by 50 points, as value buying saw stocks rally. Read more

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