Weekly trading diary: 22nd to 26th 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

22nd May	23rd May	24th May	25th May	26th May	27th May
Aditya Birla Fashion and Retail Limited	Amara Raja Batteries Limited	Avanti Feeds Limited	Bharat Dynamics Limited	Bharat Heavy Electricals Limited	Aurobindo Pharma Limited
Bharat Petroleum Corporation Limited	Ashok Leyland Limited	Hindalco Industries Limited	Dhanuka Agritech Limited	Easy Trip Planners Limited	Balkrishna Industries Limited
Indiabulls Housing Finance Limited	Bajaj Electricals Limited	Indian Railway Finance Corporation Limited	General Insurance Corporation of India	Finolex Cables Limited	Barbeque Nation Hospitality Limited
PB Fintech Limited	Dixon Technologies (India) Limited	Life Insurance Corporation Of India	Max India Limited	Grasim Industries Limited	JK Cement Limited
Vedanta Limited	Dreamfolks Services Limited	Nykaa	Page Industries Limited	Info Edge (India) Limited
	Fortis Healthcare Limited	Piramal Pharma Limited	Steel Authority of India Limited	Mahindra & Mahindra Limited
	JSW Energy Limited	The India Cements Limited	Vodafone Idea Limited	Oil & Natural Gas Corporation Limited
	NMDC Limited		Zee Entertainment Enterprises Limited	Sun Pharmaceutical Industries Limited
	NMDC Steel Limited		Zee Learn Limited

Key macroeconomic events

	22nd May		23rd May		24th May		25th May		26th May
		Japan	Services PMI (MAY)	UK	CPI Inflation (APR)	US	GDP Growth (Q1CY23)
		Eurozone	Services PMI (MAY)	US	FOMC Meeting Minutes		Jobless Claims
			Manufacturing PMI (MAY)		Crude Oil Inventories
			Composite PMI (MAY)
		UK	Services PMI (MAY)
			Manufacturing PMI (MAY)
			Composite PMI (MAY)
		US	Services PMI (MAY)
			Manufacturing PMI (MAY)
			Composite PMI (MAY)

[Tradingqna]

Benchmark indices rose more than half a percent for the second consecutive session, following to favorable global signals. US futures are trading slightly lower.

Brent Crude: 75.78 0.26%
USD INR Spot: 82.7982 0.120%
India 10Y Bond yield: 6.987 -0.24%

Market breadth for Nifty 50

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Adani Enterprises was the top gainer.

Siemens was the top loser.

Earnings Update:

CESC: Net Profit: Rs. 433 cr 2.1% YoY; Revenue Rs. 3,102 cr 3% YoY.

Indiabulls Hsg Finance: Net Profit: Rs. 262.6 cr 14.4% YoY; NII: Rs. 733.6 cr 13.5% YoY.

Shree Cement: Net Profit: Rs. 546.2 cr 15.3% YoY; Revenue: Rs. 4,785.1 cr 16.7% YoY.

News

RBI Governor Shaktikanta Das urged customers not to rush to banks. They have four months until September 30 to exchange or transfer their Rs 2,000 notes. The notes are being withdrawn but will remain legal tender.

TCS-led consortium, which includes Tejas Networks, received an advance purchase order from BSNL for the deployment of a 4G network across India.

Meta fined 1.2 billion euros for violating European Union data privacy laws under the bloc’s General Data Protection Regulation (GDPR), and was also ordered to stop moving data collected from European Facebook users to the US.

Siemens stock plummeted 8% following a 5% drop on Friday, triggered by the board’s approval of selling its low voltage motors and geared motors businesses to subsidiary Siemens Large Drives India for Rs 2,200 crore.

L&T secured significant orders valued at over Rs 2,500 crore in the Power Transmission & Distribution (PT&D) sector from a prominent Gujarat DISCOM in India. Additionally, L&T also secured two power transmission line orders in Saudi Arabia.

Airports Authority of India (AAI) has returned to profitability, posting a profit of Rs 3,400 crore in FY 22-23. This comes after two consecutive years of losses, and the turnaround can be attributed to the significant increase in domestic air traffic.

[Tradingqna]

Benchmark indexes fell in the final hour, ending the choppy session marginally higher. Dow and Nasdaq futures are trading lower.

Brent Crude: 76.69 0.92%
USD INR Spot: 82.7961 -0.003%
India 10Y Bond yield: 7.016 0.44%

Market breadth for Nifty 50

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Adani Enterprises was the top gainer.

LTIMindtree was the top loser.

Earnings Update:

Ashok Leyland: Net Profit: Rs. 751.4 cr 16.6% YoY; Revenue: Rs. 11,625.7 cr 33% YoY

Bajaj Electricals: Net Profit: Rs. 51.8 cr 31.8% YoY; Revenue Rs. 1,490.1 cr 11.7% YoY.

Dixon Tech: Net Profit: Rs. 80.6 cr 27.7% YoY; Revenue Rs. 3,065.5 cr 3.8% YoY.

News

JSW Steel and JFE Steel agreed to form a 50:50 joint venture in India for manufacturing cold-rolled grain-oriented electrical steel (CRGO).

The Indian government has reduced FAME-II scheme subsidies for electric two-wheelers registered after June 1, 2023. The demand incentive is now Rs 10,000 per kWh, and the cap on incentives is lowered from 40% to 15% of the ex-factory price.

Vedanta announced its first interim dividend of Rs 18.50 per equity share for the financial year 2023-24.

GQG Partners LLC raised its stake in Adani Group by approximately 10%, valuing it at about $3.5 billion

[Tradingqna]

Benchmark indices fell from their day’s high and closed the session down 0.34%, snapping a three-day positive trend. Dow and Nasdaq futures point to a weak opening for US markets.

Brent Crude: 78 +1.51%
USD INR Spot: 82.7207 -0.091%
India 10Y Bond yield: 6.992 -0.34%

Market breadth for Nifty 50

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Deepak Nitrite was the top gainer.

Adani Enterprises was the top loser.

Earnings Update:

Cummins: Net Profit: Rs. 318.5 cr 68.5% YoY; Revenue Rs. 1,926 cr 29% YoY.

Hindalco: Net Profit: Rs. 2,411 cr 37% YoY; Revenue: Rs. 19,995 cr 5% YoY.

Nykaa: Net Profit: Rs. 2.4 cr 71.8% YoY; Revenue: Rs. 1,301.7 cr 33.7% YoY.

News

Deepak Nitrite jumped over 9% as its subsidiary, Deepak Chem-Tech committed to investing approximately Rs. 5,000 crore in Gujarat over the next four years to establish a specialty chemical manufacturing facility for phenol, acetone, and bisphenol.

Job market witnessed 9% salary growth in 2022-23, slower than the previous year’s 10%. This was mainly due to the sectoral slowdown in agriculture, agrochemicals, automobile, BFSI, and others.

SpiceJet’s shares surged almost 8% following the company’s announcement of its plan to bring back four grounded aircraft, including two Boeing 737s and two Q400s, by June 15.

Annual inflation in the UK fell sharply to an eight-month low of 8.7% in April from 10.1% in March mainly due to lower energy prices.

[Tradingqna]

Nifty and Sensex recovered from the day’s lows to close marginally higher for the day. US futures are trading higher.

Brent Crude: 77.1 -1.61%
USD INR Spot: 82.7477 0.033%
India 10Y Bond yield: 7.008 0.26%

Market breadth for Nifty 50

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Indus Towers was the top gainer.

Tata Chemicals was the top loser.

Earnings Update:

LIC: Net Profit: Rs. 13,428 cr 466% YoY; Net premium income: Rs. 1.31 lk cr 8% YoY.

Page Ind: Net Profit: Rs. 78.4 cr 58.9% YoY; Revenue: Rs. 969.1 cr 12.8% YoY.

News

Tata Chemicals fell nearly 3% after cutting soda ash prices for the 15th time in 15 months, to Rs 33,900 per MT from Rs 35,100 per MT earlier.

Nvidia shares are set to open up 25% on strong numbers and guidance, poised to be the first $1T chipmaker due to high demand for its AI-powered GPUs at Google, Microsoft, and OpenAI.

Germany’s GDP growth unexpectedly fell by 0.3% in the January–March quarter after falling by 0.5% in the previous quarter, putting the biggest economy in Europe into a technical recession.

[Tradingqna]

Benchmark indices rose over 1% from the day’s low, extending gains for the second session following positive global signals. US futures too are trading higher.

Brent Crude: 76.9 +0.84%
USD INR Spot: 82.7182 -0.036%
India 10Y Bond yield: 7.008 +0.01%

Market breadth for Nifty 50

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Info Edge (India) was the top gainer.

Page Industries was the top loser.

Earnings Update:

Chambal Fertilizers: Net Profit: Rs. 94.1 cr 61.4% YoY; Revenue: Rs. 3,598.7cr 8.8% YoY.

Grasim: Net Profit: Rs. 93.5 cr 88.5% YoY; Revenue: Rs. 6,645.8 cr 4.2% YoY.

M&M: Net Profit: Rs. 1549 cr 22.1% YoY; Revenue Rs. 22,571.4 cr 31% YoY.

MOIL: Net Profit: Rs. 80.9 cr 38.3% YoY; Revenue: Rs. 428.1 cr 8.5% YoY.

Sun Pharma: Net Profit: Rs. 1984.5 cr against loss of 2277 cr YoY; Revenue Rs. 10,930.6 cr 15.7% YoY.

News

Reliance Consumer Products Limited (RCPL), the FMCG division of Reliance Retail, has introduced Alan’s Bugles in India. Alan’s Bugles is an internationally recognized corn chip snack brand owned by General Mills.

IMD forecasts June-September rainfall at 96% of the long-term average with an error margin of +/- 4%. Northwest India expects below-normal monsoon, while the rest of the country, including rain-fed zones, anticipates normal conditions.

The first-quarter US GDP was revised up to 1.3% YoY from 1.1% previously reported, owing primarily to a business inventory drawdown due to strong consumer spending and businesses reducing stock in anticipation of a recession.