Weekly Trading Diary: 22nd April to 26th April 2024

[Tradingqna]

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

---

Nifty and Sensex extended gains, up nearly 1% for the day, tracking positive global cues amid easing Middle East tensions. Dow and Nasdaq futures are trading higher.

Brent Crude: 86.8 0.56%
USD INR Spot: 83.364 -0.01%.
India 10Y Bond yield: 7.194 -0.43%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Voltas was the top gainer.

Persistent Systems was the top loser.

Earnings Update:

KP Energy: Net Profit: Rs. 58.32 cr 33% YoY; Revenue: Rs. 485.54 cr 9.8% YoY.

News

The Multi-Commodity Exchange of India now permits foreign portfolio investors, including individuals, family offices, and corporates, to access oil and natural gas derivatives, comprising 77% of its March turnover, as reported by the Mint.

Escorts Kubota plans to raise prices for its tractor range from May 1, 2024, with adjustments varying by model, variant, and region. However, the exact percentage of the price increase remains undisclosed.

JSW Energy’s subsidiary, JSW Neo Energy, secured a letter of award from NTPC to construct a 700 MW solar project. This win boosts JSW Energy’s locked-in generation capacity to 13.3 GW, including 3.1 GW of solar power.

Air conditioner sales are soaring in southern, eastern, and western India due to temperatures exceeding 40 degrees Celsius, with tripled sales reported from the previous year even in traditionally low-demand markets, as per The Economic Times.

Hero MotoCorp inaugurated an assembly facility in Nepal in collaboration with CG Motors, with a capacity of 75,000 units per year, expected to drive new investments and job creation.

[Tradingqna]

Benchmark indices closed marginally higher for the fourth straight session, supported by positive global cues and strong corporate earnings. US futures indicate mixed trends.

Brent Crude: 88.11 -0.35%
USD INR Spot: 83.296 0.03%.
India 10Y Bond yield: 7.185 0.25%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

United Breweries was the top gainer.

Vodafone Idea was the top loser.

Earnings Update:

Axis Bank: Net Profit: Rs. 7,130 cr 17% YoY; NII: Rs. 13,089 cr 11.6% YoY.

Hindustan Unilever: Net Profit: Rs. 2,406 cr 6% YoY; Revenue: Rs. 14,693 cr vs Rs. 14,638 cr YoY.

Nippon Life AMC: Net Profit: Rs. 343 cr 73% YoY; Revenue: Rs. 560.57 crore vs Rs. 388.03 cr YoY.

LTIMindtree: Net Profit: Rs. 1,100 cr 5.86% YoY; Revenue: Rs. 8,893 cr 1.37% YoY.

News

Reliance Industries is set to introduce a new brand, Wyzr, with production agreements being finalized with Dixon Technologies and Mirc Electronics. The company aims to establish its manufacturing plants in the medium term following market penetration.

The Naveen Jindal Group is planning a Rs 15,000 crore investment in renewable energy projects to potentially fuel its steelmaking expansion, aiming to increase capacity by 1.5 times.

The Reserve Bank of India is investigating a Rs 150 crore KYC lapse revealed by Mahindra and Mahindra Financial Services. The company disclosed fraud in retail vehicle loans at one of its branches in the northeast before declaring its March quarter results.

Walmart’s PhonePe invested Rs 800 crore in subsidiaries for expanding services like insurance broking and hyperlocal e-commerce, with Rs 426 crore in PhonePe Insurance Broking Services. Over Rs 1,000 crore was infused into its insurance unit as equity investment since licensing.

Bharti Airtel is in talks to buy Vodafone Group’s 21.05% stake in Indus Towers, potentially giving it a controlling interest. However, discussions are stalled overvaluation, with Airtel hesitant to acquire Vodafone’s stake at the current high share price, up over 77% since January.

[Tradingqna]

Nifty and Sensex recovered from early losses to close around 0.7% higher, extending their winning streak to five straight sessions. US futures are trading lower.

Brent Crude: 88.14 0.14%
USD INR Spot: 83.322 -0.01%.
India 10Y Bond yield: 7.201 0.21%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

MCX was the top gainer.

Kotak Mahindra Bank was the top loser.

Earnings Update:

ACC: Net Profit: Rs. 748.54 cr 216% YoY; Revenue: Rs. 5398.11 cr 12.6 % YoY.

Cyient DLM: Net Profit: Rs. 22.7 cr⬆️ 80.7% YoY; Revenue: Rs. 362 cr⬆️12.7 % YoY.

IndusInd Bank: Net Profit: Rs.2349 cr 15% YoY; Revenue: Rs 5376 cr 15% YoY.

Nestle: Net Profit: Rs. 934 cr​:arrow_up: 27% YoY; Revenue: Rs. 5,268 cr 9% YoY.

Laurus Labs: Net Profit: Rs. 76 crore 25% YoY; Revenue: Rs. 1,439.67 cr 4% YoY.

Tech Mahindra: Net Profit: Rs.661 cr 40.9% YoY; NII: Rs. 12,871 cr​:arrow_down: 6.2% YoY.

Vedanta: Net Profit: Rs. 2273 cr 27% YoY; Revenue: Rs. 34,937 cr 6% YoY.

News

ITC plans to expand its hotel business globally, focusing on neighboring countries and the Middle East after launching its first international property. ITC Hotels aims to add 70 hotels in India in the next five years alongside its international expansion.

Kotak Mahindra Bank shares plummeted after the RBI barred new client onboarding through online channels and issuing credit cards, causing a 9.7% drop. The RBI directive cited concerns over the bank’s IT infrastructure.

JioCinema announced a two-third price cut for its premium services, now available for ₹29/month, intensifying competition with Netflix and Amazon Prime.

Vodafone Idea may face difficulties in raising funds, as banks will scrutinize its liabilities and repayment schedule for the next 4-5 years before extending loans. The telco needs about Rs 25,000 crore in loans.

Temasek and Fidelity are in advanced talks to invest $200 million in Lenskart through a secondary share sale, valuing the company at $5 billion. Temasek, an existing investor, is leading with $125-150 million, while Fidelity will invest for the first time.