Weekly Trading Diary: 15th April to 19th April 2024

[Tradingqna]

Welcome to the weekly trading diary, a thread for discussing your trades, strategies, ideas, news, stories, etc.

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Nifty and Sensex opened lower, dropping over 1% amid volatility driven by negative global signals and geopolitical tensions between Israel and Iran. US futures are trading higher.

Brent Crude: 89.90 -0.61%
USD INR Spot: 83.442 -0.20%.
India 10Y Bond yield: 7.174 -0.07%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

ONGC was the top gainer.

Mahindra & Mahindra Financial Services was the top loser.

News

Ambuja Cements, part of the Adani Group, announced the acquisition of My Home Group’s 1.5 MTPA cement grinding unit in Tuticorin, Tamil Nadu, for Rs 413.75 crore, as per a definitive agreement.

India’s pharma exports to the US jumped 15% in the first 11 months of the last financial year, reaching $7.83 billion despite regulatory challenges, up from $6.8 billion in the same period of FY23, as reported by Pharmexcil.

Varun Beverages, a major bottler for PepsiCo, announced the commencement of commercial production of soft drinks and energy drinks at its Gorakhpur, Uttar Pradesh facility, with plans to expand into juices and dairy products, according to a regulatory filing.

Tesla has entered into a strategic agreement with Tata Electronics to procure semiconductor chips for its global operations, positioning Tata as a key supplier in the semiconductor value chain, the Economic Times reported.

Apple exported $10 billion worth of iPhones from India in the year ended March, doubling from the previous year and marking the largest-ever export of a single branded product from India, according to the Business Standard.

[Tradingqna]

Benchmark indexes dropped for the third consecutive session, down 0.6% due to heavy selling in IT stocks and rising Middle East tensions. US futures show mixed trends.

Brent Crude: 89.69 -0.46%
USD INR Spot: 83.619 0.13%.
India 10Y Bond yield: 7.199 0.32%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Exide Industries was the top gainer.

Infosys was the top loser.

Earnings Update:

CRISIL Ltd: Net Profit: Rs. 137.7 cr 5.5% YoY; Revenue: Rs.758.8 cr 3.6% YoY.

TCS: Net Profit: Rs. 12,434 cr 9% YoY; Revenue: Rs.61,237 cr 3.5% YoY.

News

Gold and silver prices hit fresh all-time highs, driven by strong international market trends amid escalating tensions in the Middle East, with gold reaching Rs 73,750 per 10 grams in the national capital.

Cipla Ltd will acquire Ivia Beaute Pvt Ltd’s cosmetics and personal care distribution and marketing business, including brands Astaberry, Ikin, and Bhimsaini, worldwide for Rs 130 crore, as per a regulatory filing.

The Mahindra Group plans to develop a 150 MW hybrid solar and wind project at a cost of Rs 1,200 crore, in partnership with Ontario Teachers’ Pension Plan Board. Set for completion within two years, the project will use over 80% locally sourced parts.

Coal India Limited’s capital expenditure rose 6.5% to Rs 19,840 crores, surpassing its Rs 16,500 crore target, with a focus on coal transportation infrastructure and land acquisition. Land acquisition costs surged 52.5% to Rs 5,135 crores.

GAIL intends to double the Dabhol LNG terminal’s capacity in Maharashtra and construct new terminals across India to leverage increased gas imports. The expansion aims for 12 MTPA by 2030-31, said chairman Sandeep Kumar Gupta.

[Tradingqna]

Nifty and Sensex erased intraday gains, closing about 0.7% lower, marking the fourth consecutive session of decline. US futures are trading slightly higher.

Brent Crude: 89.36 -1.07%
USD INR Spot: 83.541 -0.01%.
India 10Y Bond yield: 7.174 -0.26%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

MCX was the top gainer.

Indraprastha Gas was the top loser.

Earnings Update:

HDFC Life: Net Profit: Rs 412 cr 15%; Revenue: Rs 20,488 cr 5.4%

News

The Adani family converted the last tranche of warrants for Ambuja Cements by investing Rs 8,339 crore, raising their promoter stake to 70.3%, the company announced.

Infosys plans to acquire in-tech, a German automotive engineering R&D services provider, enhancing its digital engineering capabilities and global client support, as stated in the company’s statement.

The World Bank plans to offer a $1 billion line of credit to the State Bank of India to bolster battery energy storage systems and electric mobility, reports Mint. This support aims to enhance air quality and lessen India’s reliance on fossil fuels.

The Tata Group is discussing a stake purchase in Fabindia, possibly valuing it below the $2.5 billion IPO estimate.

FSSAI has launched an inquiry into Nestle’s Cerelac sugar content controversy, vowing strict action if wrongdoing is found. A committee will delve into the details as part of the investigation.

[Tradingqna]

Nifty and Sensex closed higher, gaining nearly 0.8% for the day, breaking a four-day losing streak. Dow and Nasdaq futures are down marginally.

Brent Crude: 86.78 -0.38%
USD INR Spot: 83.483 -0.09%.
India 10Y Bond yield: 7.217 0.52%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Bajaj Finance was the top gainer.

Tata Communications was the top loser.

Earnings Update:

Hind Zinc: Net Profit: Rs. 2,038 cr 21% ; Revenue: Rs 7,285 12% YoY.

Infy: Net Profit: Rs. 7,969 cr 30%; Revenue: Rs 37,923 cr 1.3% YoY.

Wipro: Net Profit: Rs. 2,835 cr 8%; Revenue: Rs 22,208 cr 4% YoY.

News

Bajaj Auto plans to ramp up production of Triumph motorcycles to 10,000 units monthly by September, aiming to achieve this milestone in the first half of fiscal 2025, according to the company’s financial chief, Dinesh Thapar.

JSW Steel secured $900 million from a consortium of eight foreign banks to refinance debt and pre-pay high-cost borrowings, priced 180 basis points above SOFR, according to sources.

Life Insurance Council reported a 12% compound annual growth rate in the industry between 2014 and 2023, with March’s new business premium rising by 15.6% year-on-year. The cumulative figure for the financial year 2024 surpassed the previous fiscal’s achievement by 2%.

Flipkart engaged in talks with Zepto for a majority stake purchase, but negotiations ceased and won’t likely resume, per the Economic Times. Zepto opted for a financial round over a strategic sale and is now in discussions with private equity funds and existing investors for fresh funding.

Tata Motors plans to import Jaguar Land Rover electric cars under a new policy lowering import taxes for local manufacturing. This makes Tata the first to utilize the policy, preceding Tesla’s entry into India.