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Canara Bank | DHFL | Bank of Baroda | Federal Bank | L&T Tech and HUL are stocks, which are in news today.

Results today: Bharti Airtel, ICICI Bank, Marico, Wockhardt, Chennai Petroleum, Gujarat Gas, Navin Fluorine, Mahindra CIE Automotive, Hindustan Composites, GTL, Godrej Agrovet, Great Eastern Shipping, Firstsource Solutions, Fortis Malar Hospitals

HUL Q4: Net profit up 13.8% at Rs 1,538 crore versus Rs 1,351 crore, revenue up 9.3% at Rs 9,945 crore versus Rs 9,097 crore, YoY.

L&T Tech Q4: Net profit up 3.2% at Rs 191.5 crore versus Rs 185.6 crore, rupee revenue up 2% at Rs 1,343.1 crore versus Rs 1,316.9 crore, QoQ.

LIC Housing Q4: Net profit up 16.7% at Rs 693.6 crore versus Rs 594.3 crore; revenue up 20.1% at Rs 4,655.1 crore versus Rs 3,877.6 crore, YoY

Birla Corp Q4: Net profit down 2.2% at Rs 128.2 crore versus Rs 131.1 crore, revenue up 13.4% at Rs 1,872.3 crore versus Rs 1,650.8 crore, YoY.

Federal Bank Q4: Net profit at Rs 381.5 crore versus Rs 145 crore; NII up 17.5% at Rs 1,096.5 crore versus Rs 933.3 crore, YoY.

Sheela Foam Q4: Net profit up 17.8% at Rs 37.9 crore versus Rs 32.2 crore; revenue up at Rs 534.7 crore versus Rs 527.9 crore, YoY

AB Capital Q4: Net profit up 52.5% at Rs 258.4 crore against Rs 169.5 crore; revenue up 32.2% at Rs 4,730 crore versus Rs 3,577.6 crore, YoY.

NIIT Tech Q4: Net profit up 5.2% at Rs 105.5 crore against Rs 100.2 crore; revenue at Rs 972.2 crore versus Rs 971.7 crore, QoQ.

Morepen Laboratories Q4: Net profit at Rs 9.2 crore versus Rs 4.1 crore, revenue up 30.2% at Rs 206.1 crore versus Rs 158.2 crore, YoY

Vodafone Idea signs multi-million dollar IT deal with IBM

USFDA issues 14 observations for Cadila Healthcare's Moraiya facility

HIL has commenced the final phase production of its CpVC, uPVC, and SWR (Soil, Waste & Rain) Pipes and Fittings at its plant located at Golan Plant, Gujarat

PNC Infra to sale entire stake (15.12%) in Ghaziabad Aligarh Expressway to Cube Highways and Infrastructure PTE

Embassy Office Parks REIT announces the successful placement of Embassy REIT Series I Non-Convertible Debentures 2019

Bharat Road Network has entered into a share purchase agreement with Cube Highways and Infrastructure Pte for sale of its holding in Ghaziabad Aligarh Expressway

RBI imposes Rs 11.25 lakh penalty on Yes Bank

TTK Prestige fixed May 16 as the record date for issue of bonus shares

Aditya Birla Capital approved raising of funds worth Rs 3500 crore

EID Parry board meeting on May 8 to consider the proposal to raise Rs 300 crore by issue of Non-Convertible Debentures on private placement basis in one and more tranches

Indian Overseas Bank board meeting on May 09 to consider and approve the proposal for raising capital for the year 2019-20 and other incidental matters

DHFL board approves raising a capital worth Rs 2,000 crore in one or more tranches

Vodafone Idea's Capital Raising Committee approved allotment of 19,999,830,911 rights equity shares of Rs 10 each for cash at a price of Rs 12.50 per rights equity share

Torrent Pharma has issued Commercial Paper for an amount of Rs 200 crore on May 3, 2019

Indiabulls Housing Finance approved the merger of IHFL along with its wholly owned subsidiary, Indiabulls Commercial Credit into and with the Lakshmi Vilas Bank

Bank of Baroda hikes marginal cost of lending rate by 5 bps across tenors.

Shriram City Union allotted NCD worth of Rs 666.92 crore

Canara Bank: ICRA downgrades Additional Tier-I bonds to AA- from AA; outlook stable.

CRISIL has assigned the long term rating for Bank Loan facilities of Rs 750 crore as CRISIL AA- Stable and assigned short term rating as CRISIL A1+ to Deepak Nitrite

India Ratings and Research (Ind-RA) has assigned Vadilal Enterprises Limited Long-term issuer rating at 'IND A-'. The outlook is Positive.

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The top Nifty gainers include NTPC, Tata Motors, Bharti Airtel, Bharti Infratel and ICICI Bank while TCS, Britannia Industries, Tech Mahindra, HCL Tech and Wipro are the top losers.

Dalal Street continues to trade on a positive note but is off the high point of the day with Nifty up 10 points, trading at 11,734, while the Sensex added 83 points and is trading at 39,065.

PSU Banks along with real estate stocks are the top performers led by Bank of Baroda, Punjab National Bank, Syndicate Bank, Indian Bank, Bank of India and Canara Bank.

From the real estate space, the top gainers are DLF which jumped 3 percent followed by Prestige Estates, Oberoi Realty, and Sobha.

Selective infra stocks are also buzzing led by Bharti Infratel, Bharti Airtel, Interglobe Aviation, NHPC, NTPC, Reliance Communications, Reliance Power, Siemens, and Larsen & Toubro.

Defensive stocks are down led by TCS, Tech Mahindra and HCL Tech which are down 2 percent each followed by Wipro, Mindtree, Infosys and Tata Elxsi.

From the pharma space, the top losers are Cadila Healthcare, Aurobindo Pharma, Lupin, Divis Labs, GSK Pharma, and Piramal Enterprises.

From the BSE midcap space, the top gainers are Reliance Power, Bharat Forge, Adani Transmission, M&M Financial Services, and Federal Bank while the top losers are Tata Communications, L&T Finance, and Motilal Oswal.

From the BSE smallcap space, the top gainers are Uniply Industries which zoomed 18 percent followed by Apollo MicroSystems, 63 Moons and Ruchi Soya while the top losers are Mcleod Russel, VIP Clothing and Time Technoplast.

India VIX is up 2.92 percent at 23.65 levels.

The top Nifty gainers include NTPC, Tata Motors, Bharti Airtel, Bharti Infratel and ICICI Bank while TCS, Britannia Industries, Tech Mahindra, HCL Tech and Wipro are the top losers.

The most active stocks are YES Bank, Reliance Industries, Tata Motors, ICICI Bank and TCS.

Stocks which hit 52-week high on the NSE included Reliance Industries, HDFC Bank, Kotak Mahindra Bank, Bajaj Finance, Balrampur Chini Mills and 63 Moons while on the other hand, Cadila Healthcare, Godrej Consumer Products, IL&FS Transportation Networks, Kohinoor Foods, Mcleod Russel, Mcnally Bharat Engineering, TV Today Network, UFO Moviez and VIP Clothing have hit new 52-week low on the NSE.

Over 100 stocks are trading at a 52-week low level including names like Mercator, Godrej Consumer, Igarashi Motors, Cadila Healthcare, UFO Moviez India Ltd., TVS Srichakra, IL&FS Transportation Networks, Nagarjuna Oil and SPML Infra among others.

The breadth of the market favored the declines as 736 stocks advanced and 968 declined while 394 remained unchanged. On the BSE, 986 stocks advanced, 1327 declined and 171 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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Jefferies maintained its hold rating on Hindustan Unilever post-March quarter results but raised its target price to Rs 1,820 from Rs 1,770 earlier

Global brokerages are mixed on Hindustan Unilever (HUL) post Q4 results. The FMCG major registered 14 percent jump in its March quarter net profit at Rs 1,538 crore against Rs 1,351 crore in the same quarter last fiscal.

Revenue of the company increased 9 percent to Rs 9,945 crore against Rs 9,097 crore. The company's domestic consumer business growth stood at 9 percent while underlying volume growth was at 7 percent.

Reacting to the results, Jefferies raised target price while CLSA slashed its respective target price.

HUL has maintained growth leadership over the last six quarters (10 percent volume growth) led by strong product portfolio and remarkable execution, but margins will remain modest from here-on, suggest experts.

CLSA maintained its outperform rating on Hindustan Unilever but slashed its 12-month target price to Rs 1,950 from Rs 2,010 earlier.

The volume growth of 7 percent looks good in the context of peer performance. There is a marked shift in the near-term outlook as growth rates have moderated.

From current levels, margin gains will be relatively modest, said the CLSA note. The global investment bank tweaked EPS to factor in the higher tax rate. “We have yet to build in upgrade from GSK acquisition,” said the note.

Jefferies maintained its hold rating on Hindustan Unilever but raised its target price to Rs 1,820 from Rs 1,770 earlier.

The Q4 results were better than peers but not good enough. A 7 percent growth in volume was on a high base which was a positive surprise, it said.

Valuation remains rich at 45x FY21 P/E. Jefferies slashed its estimates in the base business by 3 percent.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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A morning walk down Dalal Street | Close above 11,800 levels could propel Nifty towards record highs

Dragonfly Doji can signal a potential reversal in the trend if it slips below 11,655 which was the intraday low formed in Tuesday’s trading session, suggest experts.

A volatile day for Indian markets but bulls managed to push the index back above crucial support levels which were a positive sign. Although both Sensex and Nifty closed the day with marginal losses.

The final tally on D-Street -- the Sensex was down 35.78 points at 39031.55, while Nifty was down 6.50 points at 11748.20.

The broader market recovered from the low point but still sheds 1 percent in trade. The S&P BSE Midcap index closed 1.1 percent lower while the S&P BSE Smallcap index was down 1.27 percent.

On the macro front, India's infrastructure output grew 4.7 percent in March from a year earlier, government data showed on April 30. For the 2018/19 financial year, infrastructure output grew 4.3 percent from the previous year, according to the data.

The rupee appreciated for the second straight session Tuesday to close higher by 46 paise at 69.56 against the US dollar as crude oil prices retreated from six-month high levels and the greenback weakened against global rivals.

On the institutional front, FPIs were net buyers in Indian markets for 114 cr while the DIIs were also net buyers to the tune of Rs 730 crore, provisional data showed.

Big News:

As many as 39 companies on the BSE will declare their results for the quarter ended March which include names like Bandhan Bank, Dabur India, L&T Infotech, MRF, Radico Khaitan, and Tata Power among others.

Dabur India: PAT likely to rise by 1.3% YoY to Rs 401 cr

L&T Infotech: PAT likely to rise by 8% YoY to Rs 365 crore

Technical View:

Nifty formed a Dragonfly Doji kind of pattern on daily charts

Dragonfly Doji can signal a potential reversal in the trend if it slips below 11,655 which was the intraday low formed in Tuesday’s trading session, suggest experts.

On the other hand, a close above 11,800 levels could propel the index towards record highs, they say.

Three levels: 11655, 11756, 11856

Max Call OI: 12000, 12500

Max Put OI: 11000, 11500

Stocks in news:

Ambuja Cements, a unit of global conglomerate LafargeHolcim, on Tuesday, reported a 57 percent year-on-year (YoY) jump in standalone net profit at Rs 427 crore for the first quarter ended March 2019.

Drug firm Lupin, in alliance with Natco Pharma, has received approval from the US health regulator to market generic Bosentan tablets used for the treatment of pulmonary arterial hypertension, the Mumbai-based company said Tuesday.

TVS Motor Company on April 30 reported a 19.2 percent decline in its standalone profit after tax (PAT) to Rs 133.8 crore for the fourth quarter of 2018-19.

Technical Recommendations:

We spoke to SMC Global Securities and here’s what they have to recommend:

Indian Oil Corporation Ltd: Buy| Target: Rs 168.50| Stop Loss: Rs 149| Upside 8%

Tech Mahindra Limited: Buy| Target: Rs 900| Stop Loss: Rs 790| Upside 8%

JSW Steel Limited: Buy| Target: Rs 336| Stop Loss: Rs 285| Upside 10%

Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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