Tuesday, May 27, could be a fast paced trading day on the Indian exchanges, with a combination of quarterly results announcements, big block deals, and corporate actions on the cards to drive individual stock action.
Many big companies are due to declare their fourth-quarter numbers today. These include Life Insurance Corporation of India (LIC), NMDC, Bharat Dynamics, and Info Edge (India). Market players will scrutinize these numbers keenly for a sense of the financial position and outlook of these players.
Aurobindo Pharma registered a marginal 0.5% decline in consolidated profit over the year to ₹902.8 crore, although revenue climbed 10.6% to ₹8,382.1 crore, in line with general expectations in the market.
Lumax Industries reported robust growth with its profit growing 21.9% to ₹44 crore and revenue advancing 24.3% to ₹923.4 crore. The board also declared a final dividend of ₹35 per share.
Bayer Cropscience posted a massive 49.3% jump in Q4 profit to ₹143.3 crore, while revenue grew 32.1% to ₹1,046.4 crore.
Shilpa Medicare saw its consolidated profit plummet sharply 40.8% to ₹14.5 crore, on account of an exceptional loss of ₹28.1 crore, as revenue grew 13.4% to ₹330.8 crore.
Sumitomo Chemical India profit declined 9.2%, revenue rose 0.8%.
PTC India profit surged 276% primarily on account of exceptional gains, revenue declined 14.3%.
Bajaj Healthcare turned the corner to profitability at ₹11.2 crore vs loss in previous year.
Apeejay Surrendra Park Hotels profit climbed 44.1%, revenue rose 16.3%.
interGlobe Aviation (IndiGo) is under the spotlight as foreign promoter Rakesh Gangwal is said to be selling as much as a 3.4% stake in a block deal to raise around ₹6,831 crore. The floor price is fixed at ₹5,175 per share, which is around 4.5% lower than the prevailing market rate.
PG Electroplast promoters will sell as much as a 5.62% stake through a block deal worth ₹1,177 crore at the floor price of ₹740 per share. Any other sale of shares by these promoters will be subject to a 180-day lock-in period.
Sagility India is also seeing promoter activity, with Sagility B.V. planning to sell as much as 15.02% through an Offer for Sale (OFS). The OFS is opening today for non-retail investors and on May 28 for retail investors at a floor price of ₹38 per share.
Dabur India's Board has cleared the amalgamation of Sesa Care with the company, subject to several regulatory and shareholder approvals.
Lupin has declared a license and supply agreement with SteinCares for its biosimilar Ranibizumab in selected Latin American markets.
Borana Weaves will be listed on the mainboard today.
DLF has announced that it will launch a luxury housing project in Mumbai in the next two weeks.
Index and Segment Changes Ahead
Changes to certain indices and trading segments are also in the offing. From June 23, Nestle India, Max Healthcare Institute, Divis Laboratories, Indian Hotels, and IndusInd Bank will replace Avenue Supermarts, Bharat Petroleum Corporation, Hero MotoCorp, Trent, and Bharat Electronics on the BSE Sensex Next 30 Index.
In addition, with effect from June 27, shares of 4 companies – 360 ONE WAM, Amber Enterprises India, KFin Technologies, and PG Electroplast – will be introduced in the Futures and Options (F&O) segment of the National Stock Exchange.
Disclaimer: This news is solely for educational purposes. The securities/investments quoted here are not recommendatory.