Weekly Trading Diary: 6th May to 10th May 2024

[Tradingqna]

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

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Benchmark indexes finished flat, amid negative trends and selling in PSU banking stocks adding to the market’s choppiness. Dow and Nasdaq futures are trading higher.

Brent Crude: 83.69 0.88%
USD INR Spot: 83.531 0.18%.
India 10Y Bond yield: 7.111 -0.53%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Godrej Properties was the top gainer.

Power Finance Corporation was the top loser.

Earnings Update:

Arvind: Net Profit: Rs. 99 cr 2% YoY; Revenue: Rs. 2,074.5 cr 10% YoY.

Godrej Consumer Products: Net Profit: Rs. 581.1 cr 6.4% YoY; Revenue: Rs. 3,659.6 cr 1.7 YoY.

Indian Bank: Net Profit: Rs. 2,247 cr 55.25% YoY; NII: Rs. 6,015.4 cr 9.2% YoY.

Marico: Net Profit: Rs. 320 cr​:arrow_up: 5% YoY; Revenue: Rs. 2,278 cr 1.6% YoY.

News

Tata Power Renewable Energy Ltd (TPREL) signed an agreement with state-owned SJVN Ltd to establish a 460 MW Firm and Dispatchable Renewable Energy (FDRE) project.

REC Ltd received RBI approval to establish a subsidiary in GIFT City, Gujarat. The subsidiary will conduct financial activities as a finance company within GIFT, including lending and investment services.

State Bank of India has invested Rs 714 crore in TCG Urban Infrastructure, developing a Gurugram world trade centre with one million sq ft of space. The total project cost is Rs 1,211 crore, with Rs 497 crore from the promoter, per CRE Matrix documents.

Muthoot Finance’s microfinance arm, Belstar Microfinance, filed preliminary papers with SEBI for a Rs 1,300 crore IPO. Belstar offers diverse loan products, including micro-enterprise, small enterprise, consumer goods, festival, education, and emergency loans.

Lab-grown Diamonds (LGDs) exports are projected to revive in FY25, with an estimated growth of 7-9% to reach around US$1500-1530 million, as per CareEdge Advisory.

[Tradingqna]

Benchmark indexes fell for the third session, down over half a percent due to selling in heavyweight stocks across sectors. Dow and Nasdaq futures show mixed trends.

Brent Crude: 83.14 -0.22%
USD INR Spot: 83.513 0.04%.
India 10Y Bond yield: 7.133 0.35%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Marico was the top gainer.

SRF was the top loser.

Earnings Update:

Century Textiles: Net Profit: Rs. 160.3 cr​:arrow_down:4.4% YoY; Revenue: Rs. 1,686 cr 71.7% YoY.

Happiest Minds Technologies: Net Profit: Rs. 71.98 cr 24 % YoY; Revenue: Rs. 1,624.66 cr​:arrow_up:13.7% YoY.

SRF: Net Profit: Rs. 422 cr​:arrow_down: 25% YoY; Revenue: Rs. 1816 cr 14% YoY.

News

INOX Air Products announced it will establish its first 190-tonne green hydrogen project in Chittorgarh, Rajasthan, supplying clean energy to Asahi India Glass Limited under a 20-year agreement.

Britannia executive Varun Berry stated that post-election, prices for key commodities like wheat and sugar may rise, and the company aims for double-digit volume growth despite potential slight margin erosion.

The Walt Disney Co. faced $2 billion in charges from goodwill impairments due to merging its India unit with Viacom18, part of Reliance Industries, aiming to form India’s largest media company valued at Rs 70,352 crore.

CDSL added 1.09 crore demat accounts in Q1 2024, reaching a fiscal year total of 3.26 crore new accounts, raising the total to 11.56 crore, with significant growth over previous quarters.

LTIMindtree has partnered with IBM to create a global Generative AI Center of Excellence in India, focusing on accelerating generative AI adoption with solutions that integrate LTIMindtree’s expertise and IBM Watsonx technology.

[Tradingqna]

Nifty and Sensex ended flat, reversing gains in a seesaw session. US futures trading flat too.

Brent Crude: 82.43 -0.88%
USD INR Spot: 83.512 0.05%.
India 10Y Bond yield: 7.141 0.15%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Bharat Forge was the top gainer.

Voltas was the top loser.

Earnings Update:

Canara Bank: Net Profit: Rs. 3,757.23 cr⬆️ 18.4% YoY; NII: Rs. 28,807 cr⬆️11.18% YoY.

Hero MotoCorp: Net Profit: Rs. 1,016 cr⬆️ 18 % YoY; Revenue: Rs. 9,519 cr⬆️15% YoY.

News

Blackstone, Temasek Holdings, and Bain Capital are considering acquiring a controlling stake in Haldiram Snacks Food, aiming for at least 51% ownership at a valuation of $8-10 billion.

Paytm’s UPI transactions fell for the third consecutive month in April, processing 1,117.13 million transactions, a 9% drop from March, reports Business Standard citing NPC data.

Power Finance Corporation has sought legal opinion on approval for a Rs 15,000 crore loan to promoters of the Shapoorji Pallonji Group, partly against their 18.37 percent shareholding in Tata Sons.

Dixon Technologies has inked a deal with Nokia to produce telecom gear like fixed wireless access points and routers, with an initial annual worth of Rs 1,500 crore, reports the Economic Times.

Bajaj Housing Finance and Bajaj Finance collectively raised over Rs 12,000 crore through bond issuances, marking the NBFC group’s largest single-day fundraising. Bajaj Housing Finance secured Rs 4,500 crore through two NCD series, while Bajaj Finance raised Rs 7,595 crore via bonds maturing in January 2034.

[Tradingqna]

Benchmark indexes climbed around half a percent, rebounding from yesterday’s decline, driven by positive global cues and increased buying in major stocks. US futures indicate mixed trends.

Brent Crude: 84.32 0.54%
USD INR Spot: 83.497 0.05%.
India 10Y Bond yield: 7.123 -0.17%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

UPL was the top gainer.

Birlasoft was the top loser.

Earnings Update:

Bank of Baroda: Net Profit: Rs. 4886.49 cr​:arrow_up: 2.3% YoY; Revenue: Rs 33,775 cr 15.18% YoY.

Cipla: Net Profit: Rs. 939.04 cr​:arrow_up: 78.76 % YoY; Revenue: Rs 6163.2 cr 7.4% YoY.

Dr Lal Pathlab’s: Net Profit: Rs 85.8 cr⬆️50.8% YoY; Revenue: Rs 545.4 cr⬆️11.07% YoY.

News

Tata Motors intends to transfer its vehicle financing subsidiaries from Tata Motors Finance to Tata Capital through a share-swap arrangement, as per the Economic Times. This move will grant Tata Motors a minority stake in Tata Capital.

Indian Hotels Company Ltd, a Tata Group-owned company operating the Taj Group of hotels, introduced Ekyam, a new marketing platform slated to oversee a portfolio of 25 hotels and 2,500 rooms by 2025-end.

TVS Motor Company foresees electric vehicles constituting 25-30% of its total two-wheeler sales in the next two to three years, with a focus on investing in future technologies and expanding its electric mobility offerings to include bicycles and cargo three-wheelers.

Equity mutual fund inflows in India for April reached Rs 18,917 crore, marking a 16% decrease from the previous month, according to data from the Association of Mutual Funds in India. Small-cap funds, which faced outflows in March, rebounded with net inflows of Rs 2,209 crore.