Weekly trading diary: 15th to 19th May 2023

[Tradingqna]

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

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Things to watch out for in the coming week;

Corporate earnings

15th May	16th May	17th May	18th May	19th May	20th May
Kalyan Jewellers India Limited	Bank of Baroda	Devyani International Limited	Bata India Limited	Bandhan Bank Limited	Atul Auto Limited
Pfizer Limited	Bharti Airtel Limited	GlaxoSmithKline Pharmaceuticals Limited	GAIL (India) Limited	Crompton Greaves Consumer Electricals Limited	Bharat Electronics Limited
PVR INOX Limited	CREDITACCESS GRAMEEN LIMITED	Honeywell Automation India Limited	Gland Pharma Limited	Delhivery Limited	Divi’s Laboratories Limited
	Indian Oil Corporation Limited	Jubilant Foodworks Limited	InterGlobe Aviation Limited	Glenmark Pharmaceuticals Limited
	Jindal Steel & Power Limited	Railtel Corporation Of India Limited	ITC Limited	Godrej Industries Limited
	Kajaria Ceramics Limited	REC Limited	PNB Housing Finance Limited	Hindustan Copper Limited
	LIC Housing Finance Limited		Tata Elxsi Limited	JSW Steel Limited
	Oberoi Realty Limited		Zydus Lifesciences Limited	Muthoot Finance Limited
	Redington Limited			NTPC Limited
				Power Grid Corporation of India Limited
				Sun TV Network Limited
				Zomato Limited

Macroeconomic events

	15th May		16th May		17th May		18th May		19th May
India	WPI Inflation (APR)	China	Industrial Production (APR)	Japan	GDP Growth (Q1CY23)	US	Jobless Claims
Eurozone	Industrial Production (MAR)	Eurozone	GDP Growth (Q1CY23)	Eurozone	CPI Inflation (APR)		Home Sales (APR)
		US	Industrial Production (APR)	US	Building Permits (APR)
			Retail Sales (APR)		Crude Oil Inventories

[Tradingqna]

Nifty and Sensex finished around 0.5% higher following favorable global cues. US futures too are trading higher.

Brent Crude: 74.71 0.73%
USD INR Spot: 82.2841 0.15%
India 10Y Bond yield: 7.008 0.19%

Market breadth for Nifty 50

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

DLF was the top gainer.

Adani Enterprises was the top loser.

Earnings Update:

Berger Paints: Net Profit: Rs. 185.7 cr 15.9% YoY; Revenue: Rs. 2,443.6 cr 11.7% YoY.

Karur Vysya Bank: Net Profit: Rs. 338 cr 58.3% YoY; NII: Rs. 892.6 cr 25.7% YoY.

News

India’s trade deficit fell to a 21-month low in April, with exports down 12.7% year on year to $34.66 billion, while imports fell 14% to $49.9 billion.

India’s Wholesale Price Index (WPI) inflation hit a 21-month low at -0.92% in April. The decline was driven by lower prices in sectors like basic metals, food products, mineral oils, textiles, non-food articles, chemicals, rubber, plastic products, and paper.

The insurance industry is likely to reach Rs 3 lakh crore in net gross direct premium income (GDPI) by FY25, up from Rs 2.4 lakh crore at the end of March 2023: ICRA Report

The Nifty Realty index was the top gainer, closing up 4.32%, with stocks soaring 4-11% on the back of good results and sales forecasts.

[Tradingqna]

Benchmark indices fell from their day’s peak and closed around 0.6% down. Dow and Nasdaq futures point to a lower opening for US markets.

Brent Crude: 75.05 -0.24%
USD INR Spot: 82.2735 -0.013%
India 10Y Bond yield: 6.964 -0.53%

Market breadth for Nifty 50

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Birlasoft was the top gainer.

Berger Paints India was the top loser.

Earnings Update:

Bharti Airtel: Net Profit: Rs. 3006 cr 50% YoY; Revenue: Rs. 36,009 cr 14.3% YoY.

Indian Oil Corp: Net Profit: Rs. 10,841 cr 52% YoY; Revenue: Rs. 2.3 lakh cr 10% YoY.

Reddington: Net Profit: Rs. 310.1 cr 10.9% YoY; Revenue: Rs. 21,849 cr 26.3% YoY.

News

The central government has stated that the windfall tax on petroleum crude will be reduced to zero from Rs. 4,100 per tonne as of today.

Vodafone Group revealed its plan to reduce approximately 11,000 jobs across the company over the next three years with the aim to revive growth and simplify the corporate structure.

Taiwan’s Foxconn Interconnect Technology will invest Rs. 4,110 crore in constructing a new manufacturing facility in Hyderabad. The facility will produce Airpods and electrical equipment, generating 25,000 job opportunities: ET

[Tradingqna]

Benchmark indices fell over half a percent for a second consecutive session following poor global signals. US futures are trading slightly higher.

Brent Crude: 75.11 0.27%
USD INR Spot: 82.3695 0.117%
India 10Y Bond yield: 6.966 0.04%

Market breadth for Nifty 50

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Exide Industries was the top gainer.

LIC Housing Finance was the top loser.

Earnings Update:

Deepak Fertilizers: Net Profit: Rs. 254.9 cr 9% YoY; Revenue: Rs. 2,795.5 cr 39% YoY.

Jubilant FoodWorks: Net Profit: Rs. 47.5 cr 59% YoY; Revenue: Rs. 1252 cr 8% YoY.

REC: Net Profit: Rs. 3065.4 cr 33.2% YoY; Revenue Rs. 10,243.1 cr 6.3% YoY.

Zydus Wellness: Net Profit: Rs. 145.6 cr 6.9% YoY; Revenue: Rs. 713 cr 11.1% YoY.

News

The Supreme Court gave the SEBI a three-month extension until August 14 to finish its investigation into charges brought by US short-seller Hindenburg Research against the Adani Group.

The Union Cabinet approved Rs 17,000 crore for PLI Scheme 2.0, covering IT hardware like laptops, tablets, PCs, servers, and ultra-small devices. This scheme is expected to generate Rs 3.35 lakh crore in production, Rs 2,430 crore in investment, and 75,000 jobs.

Auto sales in Europe grew for the 9th straight month in April, with new car registrations rising 16% to 964,932 units. This was due to better supply chains and carmakers managing order backlogs, says the European Automobile Manufacturers’ Association.

British telecom company Vodafone Plc, during its FY23 earnings announcement, stated that the carrying value of its investment in Vodafone Idea is now zero. Additionally, the company mentioned that there will be no additional losses recorded concerning Vi (Vodafone Idea).

PVR Pictures has undergone a name change and is now known as PVR INOX Pictures after the merger of PVR and Inox Leisure, according to the company’s statement.

[Tradingqna]

Nifty and Sensex began the day with gains but retreated from their peak levels and ended in the red. US markets look set for a mixed start.

Brent Crude: 76.84 -0.16%
USD INR Spot: 82.4783 0.132%
India 10Y Bond yield: 6.988 0.23%

Market breadth for Nifty 50

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Cholamandalam Investment and Fin Co was the top gainer.

Gujarat Narmada Valley was the top loser.

Earnings Update:

GAIL: Net Profit: Rs. 603.5 cr 77.5% YoY; Revenue: Rs. 32,858 cr 21.8% YoY

GNFC: Net Profit: Rs. 336 cr 47.7% YoY; Revenue: Rs. 2,271 cr 18.1% YoY.

ITC: Net Profit: Rs. 5,086.9 cr 21.4% YoY; Revenue Rs. 16,398 cr 5.6% YoY.

Indigo: Net Profit: Rs. 919.2 cr against loss of 1,681.7 cr YoY; Revenue Rs. 14,160.6 cr 76.6% YoY.

SBI: Net Profit: Rs.16694.5 cr 83.2% YoY; NII: Rs.40392.5 cr 29.5% YoY.

News

S&P Global Ratings maintains India’s sovereign credit rating at ‘BBB-’ long-term and ‘A-3’ short-term, citing the country’s strong economic performance amid global challenges. It expects India’s growth to be supported by solid fundamentals in the next two to three years.

The Central Government has amended the FEMA rules, effective July 1st, 2023, to include credit card international transactions under the LRS. As a result, a 20% TCS will be applicable to international spending using credit cards.

As per HDFC Bank’s exchange filing, SBI Funds Management has received RBI approval to acquire up to 9.99% of HDFC Bank.

The country’s retail sales grew moderately by 6% YoY in April 2023, with East and South India reporting a 7% growth each. West and North India witnessed a growth of 6% and 3% respectively, according to the Retailers Association of India.

Russia’s economy contracted by 1.9% YoY in Q1 2023, primarily driven by declines in retail and wholesale turnover. However, sectors such as manufacturing, agriculture, and construction experienced growth, according to Rosstat federal statistics.

Amazon Web Services (AWS) plans to invest over Rs 1 lakh crore in India’s cloud infrastructure by 2030 to meet increasing customer demand. This investment is expected to create around 1,31,700 full-time jobs annually in Indian businesses.

[Tradingqna]

Nifty and Sensex rallied around half a percent from days lows, halting a three-day losing run. US futures are trading higher, signaling a good start.

Brent Crude: 76.69 1.09%
USD INR Spot: 82.6989 0.267%
India 10Y Bond yield: 7.011 0.40%

Market breadth for Nifty 50

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Ramco Cements was the top gainer.

Siemens was the top loser.

Earnings Update:

Bandhan Bank: Net Profit: Rs. 808.3 cr 57.5% YoY; NII: Rs. 2,471.8 cr 2.7% YoY.

IRB Infra: Net Profit: Rs. 130.2 cr 25.4% YoY; Revenue: Rs. 1,620 cr 13% YoY

PNB: Net Profit: Rs. 1,158.6 cr against profit of Rs. 201.6 cr YoY; NII: Rs. 9,498.7 cr 30% YoY.

JSW Steel: Net Profit: Rs. 3,741 cr 11.9% YoY; Revenue Rs. 46,962 cr 0.1% YoY.

Zomato: Net Loss: Rs.187.6 cr Loss of 359.7 cr YoY; Revenue: Rs. 2,056 cr 69.7% YoY.

News

The RBI approved a surplus transfer to the Centre of Rs 87,416 crore for the fiscal year 2022-23, up from Rs 30,307.45 crore in FY 2021-22. The board of directors voted to maintain the contingency risk buffer at 6%.

India’s domestic air traffic in April 2023 rose 22% YoY to 128.88 lakh passengers, surpassing April 2019 levels of 109.95 lakh passengers. It slightly declined from March 2023’s figure of 128.93 lakh passengers: DGCA

India aims to require domestic airlines to use 1% sustainable aviation fuel by 2025, as per to oil minister Hardeep Singh Puri. Unlike the US and EU, India lacks specific policies on sustainable aviation fuel. The EU’s SAF mandate is set to begin in 2025, with a minimum volume of 2%.