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Stock to SELL: Motilal Oswal sees Rs 16,000 downside in this stock; do you own it?

Market veteran Raamdeo Agrawal believes it is "not the right time to stay away" from the equity market, he said in an exclusive interaction with Zee Business on Wednesday. His remarks come at a time when the headline Nifty index has come within 225 points — or about one per cent — of its all-time high of 18,888, touched in December 2022. The Nifty Bank scaled a record high of 44,499 on May 30, 2023.

Agrawal sees the 50-scrip blue-chip gauge scaling a peak of 40,000 by 2028-2030 provided all the key factors remain favourable. He highlighted that there are strong triggers at play on Dalal Street.

"The March quarter earnings were good, with not many negatives... Banking and finance remained showstoppers, which may continue to be going forward," Agrawal, Chairman, and Co-Founder of Motilal Oswal Financial Services, said in an interview with Zee Business Managing Editor Anil Singhvi in the special segment, Life @ Life High.

Sharing his mantra for success in equities, Agrawal emphasized on the importance of staying invested when the market shows no decisive move or stays flat. "Investors must stay invested like a recurring deposit," he said.

<h2>So, does the market guru expect unprecedented levels on Dalal Street anytime soon?</h2>

"If not this year, the market will certainly be good in the coming years" on the back of factors such as economic recovery, earnings growth, robust GST numbers, strong PMI services, and manufacturing numbers, good FII flows, and improving domestic macro conditions, Agrawal said.

<a href="https://www.zeebiz.com/markets/stocks/news-nifty-bank-futures-options-expiry-on-fridays-not-thursdays-starting-july-14-nse-derivative-contracts-news-238758">ALSO READ: Nifty Bank F&amp;O expiry moved to Friday from Thursday</a>

“We were expecting the market to give 12-13 per cent returns last year despite good earnings," he said. However, it remained flat and is expected to give returns to the tune of 17-18 per cent after some consolidation, outperforming earnings growth of 12-13 per cent this year, Agrawal added.

<h2>Here are some of the key things market expert Raamdeo Agrawal pointed out:</h2>

<h2>EARNINGS</h2>

The Q4 earnings season has been good, with not many negatives, he said. Banking and finance remained showstoppers, which will continue, Agrawal added.

<h2>DOMESTIC ECONOMY</h2>

Global institutions like World Bank may have trimmed growth estimates but they believe India is among the fastest-growing economies in the world, the market veteran said.

"India’s contribution to the world's GDP will rise to 5-6 per cent in the next 10 years," he said.

<h2>SECTORS</h2>

Finance: Banking and financial stocks are seeing a dream run right now. This is mainly due to the highest margins and lowest credit cost amid rising demand. However, it is too early to call a top for the banking sector, he said.

Auto: A recovery in the sector is becoming more broad-based, Agrawal said, with auto manufacturers expected to sustain their growth trajectory in the coming quarters.

Realty: Agrawal is of the view that real estate will be the biggest beneficiary mainly on the back of wealth transfer from the stock market and on robust capital supply in the segment.

<h2>NEW-AGE COMPANIES</h2>

Agrawal is bullish on digitally-powered new-age companies. Listed new-generation firms like Zomato, Paytm, and PolicyBazaar are on the verge of delivering profit to promise, which makes them lucrative, he said.

"The good growth trajectory and strong management make it a perfect time to enter."

Catch&nbsp;<a href="https://www.zeebiz.com/market-news/live-updates-nifty-sensex-stock-market-today-live-updates-sgx-nifty-futures-stocks-in-focus-crude-oil-brent-opec-stocks-in-news-anil-singhi-indian-markets-nifty-bank-nse-bse-glod-dow-inr-usd-238871">latest stock market updates</a>&nbsp;here. For all other news related to business, politics, tech, sports and auto, visit&nbsp;<a href="https://www.zeebiz.com/market-news/live-updates-sensex-nifty-stock-market-india-live-updates-jan-16-hdfc-bank-wipro-dmart-results-share-price-217366">Zeebiz.com</a>.

Sharing his mantra for success in equities, Motilal Oswal's Raamdeo Agrawal emphasized on the importance of staying invested when the market shows no decisive move or stays flat. "Investors must stay invested like a recurring deposit," he said.


EXCLUSIVE | Nifty at 40,000? Raamdeo Agrawal says not the right time to stay away from market

Indian IT shares suffered heavy losses on Tuesday, a day after US-based EPAM Systems cut its guidance citing deterioration in the near-term demand environment, sending shockwaves across tech stocks around the globe. Losses in TCS, Infosys, Wipro, Tech Mahindra, HCL Tech, and Persistent Systems weighed on the IT index.

The Nifty IT fell as much as 2.6 per cent during the session — its worst intraday slide since April 17 — as all of the gauge's 10 components faced selling pressure.

Shares in India's five largest IT companies by market value — Tata Consultancy Services (TCS), Infosys, Wipro, HCL Tech, and Tech Mahindra — fell as much as 2-3 per cent each.

In the mid-and small-cap segments, Persistent Systems, Mphasis, and Coforge tumbled 5-6 per cent. LTIMindtree and L&amp;T Tech dropped around three per cent each.

<h2>What's worrying investors?</h2>

EPAM Systems switched to revenue guidance for 2023 to contraction of two per cent in constant currency terms from its earlier guidance of three per cent growth after the first quarter.

<h2>Here are three important things to know:</h2>

<ul>
	<li>Q2 revenue guidance reduced to $1.16-$1.17 billion from $1.195-$1.205 billion</li>
	<li>Q2 EPS guidance trimmed to $2.33-$2.40 from $2.38-$2.46</li>
	<li>Full-year revenue guidance at $4.65-$4.8 billion as against $4.95-$5 billion previously</li>
</ul>

“We have come to understand that pipeline conversions are occurring at slower rates than previously assumed and we are also seeing some reduction in the total pipeline,” EPAM CEO said.

Given steep cuts to both 2023 revenue and margin estimates for clients of Infosys, Tech Mahindra and Wipro, the near-term demand outlook for these companies could be under pressure, Jefferies said last week.

“Aggerate revenue outlook of top clients year-to-date (YTD) has not changed, profit outlook has worsened, suggesting that client profitability is the key determinant of IT spends. Among verticals, Communications, Tech, and BFSI seem to be the worst placed,” the brokerage added.

EPAM shares tumbled 22 per cent on Monday to their lowest level recorded in almost 14 months. Cognizant and Accenture shares dropped 3.9 per cent and 2.2 per cent respectively. Besides, the American depository receipts of Infosys and Wipro fell up to 2.5 per cent on Wall Street.

<h2>Indian IT stocks have remained under pressure</h2>

The Nifty IT index has already lost four per cent of its value in the past one year, in stark contrast to a rise of about 12 per cent in the Nifty headline index.

In 2023 so far, the IT index is down about one per cent, as against a two per cent gain in the 50-scrip blue-chip gauge.

The Nifty IT fell as much as 2.6 per cent during the session — its worst intraday slide since April 17 — as all of the gauge's 10 components faced selling pressure.


Worst day for Nifty IT in two months after EPAM Systems cuts guidance with a warning

Sona BLW Precision Forgings shares were under pressure during Wednesday’s session on the exchanges on the back of news that one of the company’s promoters has decided to sell a 3.25 per cent equity stake at a 7 per cent discount to Tuesday’s closing price of Rs 533 per share.

An automotive systems and components manufacturing company – Sona BLW shares tumbled more than 5 per cent to touch the day’s low level of Rs 505.25 per share on the BSE today. At around 12:20 PM, it was trading near its day’s low level at Rs 507.55 apiece, down 4.78 per cent on the BSE.

According to Zee Business research analyst Arman Nahar, Sona BLW’s promoter Aureus Investment Pvt Ltd is likely to have sold a 3.25 per cent stake in the auto components maker through a block deal on Wednesday at the price of Rs 500 a share.

As of March 2023 end, Aureus Investment held a 33 per cent stake in Sona BLW Precision Forgings as per the shareholding pattern of the company.

Sona BLW Q4 Results

In the January-March quarter of the financial year gone by, Sona BLW Precision on May 3, 2023, posted a 35 per cent year-on-year (YoY) growth in revenue to Rs 744 &nbsp;crore and the profit grew by 54 per cent YoY to Rs 120 crore, while its EBITDA (earnings before interest, taxes, depreciation, and amortisation) stood at Rs 201 crore, up 49 per cent YoY with a margin of 27.1 per cent.

ICICI Securities gives ‘buy’ call

Domestic brokerage firm ICICI Securities notes that Sona BLW recorded its highest quarterly revenue, driven by an increase in EV (electric vehicle) orders, as Battery EV revenue grew 37 per cent YoY, resulting in a revenue mix of 28 per cent during the quarter.

The brokerage says the new e-CV (electric commercial vehicle) export order has kickstarted Sona’s journey in the global e-CV segment after it already established a significant presence in e-PVs. ICICI Securities maintained a ‘buy’ rating with a target price of Rs 573 per share.

Sona BLW share price history

Sona BLW shares dipped nearly 9 per cent in the last one year as compared to around a 12 per cent rise in the Nifty50 index. So far in 2023, the stock has risen over 21 per cent against more than a 1.5 per cent surge in the benchmark index. 
&nbsp;

According to Zee Business research analyst Arman Nahar, Sona BLW’s promoter Aureus Investment Pvt Ltd is likely to have sold a 3.25 per cent stake in the auto components maker through a block deal on Wednesday at the price of Rs 500 a share.


 Sona BLW Precision Forgings slips in trade amid large deal news; what should be your strategy?

HDFC Life Insurance shares rose on Wednesday after UK-based ABRDN — formerly known as Standard Life Aberdeen — sold its entire stake of 1.66 per cent in the Mumbai-based life insurer through block deals.

The HDFC Life stock — traded on the bourses with the symbol HDFCLIFE — gained by Rs 17.3 or three per cent to touch Rs 602.8 at the strongest level of the day on BSE.

ABRDN sold 3.6 crore HDFC Life shares at Rs 565-585 per share on Wednesday, making the transaction worth about Rs 2,010 crore.

According to Zee Business research, HDFC Bank, India’s largest private sector bank, will reportedly acquire the entire stake of ABRDN in HDFC Life from its joint venture partner.

In the past one month, HDFC Life shares have gained nine per cent after the RBI allowed HDFC Bank or HDFC to increase their shareholding in HDFC Life and HDFC ERGO to more than 50 percent.

As of March 2023, HDFC Bank and HDFC have 1,04,57,60,149 equity shares or 48.65 per cent stake in HDFC Life Insurance, according to the shareholding pattern of the company.&nbsp;

<h2>HDFC Life Q4 results</h2>

Last month, HDFC Life Insurance reported decent numbers for the quarter ended March 2023. The company's net profit stood at Rs 359 crore, nearly unchanged on a year-on-yera basis, and net premium income grew 36 per cent to Rs 19,426 crore. READ MORE LINK

<h2>HDFC Life Insurance dividend</h2>

HDFC Life Insurance's board recommended a final dividend of Rs 1.9 per equity share for the financial year 2022‐23.

(This story will be updated shortly)

ABRDN exits HDFC Life, offloads Rs 2,010-crore stake via block deal

Campus Activewear shares were under selling pressure on Tuesday, a day after the footwear maker reported a weak set of financial results for the quarter ended March 2023 owing to higher operating expenses that ate into its margin. The margin of Campus — which owns the sports and athleisure footwear brand Campus — contracted by 600 basis points on a year-on-year basis.

Campus shares, which debuted on the bourses last year, slumped nearly seven per cent to Rs 335.1 apiece on BSE, sliding below its listing price of Rs 360 apiece.&nbsp;

The stock made a stellar debut in the secondary market on May 9, 2022, listing at Rs 360 per share — a premium of 23 per cent compared with the upper end of the price range of its IPO.

<h2>Campus Activewear Q4 results</h2>

The footwear company’s profit came in at Rs 23 crore for the three-month period, largely unchanged compared with the corresponding period a year ago, according to a regulatory filing. 
Its quarterly revenue dipped 1.3 per cent to Rs 347.7 crore.

Campus reported Rs 56.4 crore in earnings before interest, taxes, depreciation and amortization (EBITDA), down 28 per cent compared with the year-ago period. Its margin stood at 16.2 per cent for the quarter.&nbsp;

<h2>What analysts say</h2>

According to Motilal Oswal Financial Services, the nearly 50 per cent increase in selling, general and administrative (SG&amp;A) expenses is towards ad spends, primarily towards new product launches and promotions, and some of the increase could be attributed to the doubling of stores and warehousing rent.

<h2>Campus Activewear shares: Past performance</h2>

Campus Activewear shares have lost five per cent of their value in the last one year, a period in which the Nifty benchmark index has declined 12 per cent. 
In 2023 so far, the stock has dipped more than 17 per cent as against a two per cent decline in the index.

<h2>About Campus Activewear</h2>

Launched in 2005 as a lifestyle-oriented sports and athleisure brand, Campus Activewear offers a diverse product portfolio for the entire family. The brand offers a range of products across styles, colour palettes and price points.&nbsp;

Catch&nbsp;<a href="https://www.zeebiz.com/market-news/live-updates-share-market-live-today-nifty-sensex-nse-bse-may-30-irctc-apollo-hospitals-adani-ports-ipca-labs-wall-street-asian-stocks-us-debt-ceiling-dividend-news-dollar-gold-crude-oil-prices-inr-nifty-bank-237770">latest stock market updates</a>&nbsp;here. For all other news related to business, politics, tech, sports and auto, visit&nbsp;<a href="https://www.zeebiz.com/market-news/live-updates-sensex-nifty-stock-market-india-live-updates-jan-16-hdfc-bank-wipro-dmart-results-share-price-217366">Zeebiz.com</a>.

Campus shares, which debuted on the bourses last year, slumped nearly seven per cent to Rs 335.1 apiece on BSE, sliding below its listing price of Rs 360 apiece.&nbsp;


Campus Activewear sinks below listing price as Street worried about margin

Shares of Indian Hotels Company Limited (IHCL) – a Tata Group hotels chain company – touched a new all-time high of Rs 389.20 per share on May 25, Thursday, after gaining nearly 4 per cent on the BSE.

The rise in Indian Hotels shares can be attributed to the brokerages’ bullishness on the stock and due to strong March quarter earnings released a month ago. The counter in the last one month has surged almost 13 per cent as compared to over 2.5 per cent gain in the Nifty50 index.

Indian Hotels Q4 results

India’s largest hospitality firm on April 27, 2023, reported a multi-fold year-on-year jump in its March quarter earnings for the financial year gone by at Rs 328.27 crore against a net profit of Rs 74.2 crore logged in the corresponding quarter last fiscal.

The revenue from operations of Indian Hotels almost doubled or rose by 86.4 per cent YoY during the quarter under review at Rs 1,625.4 crore against Rs 872.1 crore in the year-ago period.

What should investors do?

Earlier today, global brokerage firm Jefferies initiated a ‘buy’ call on the stock with a target price of Rs 425 per share, which implies over 13 per cent upside.

Domestic brokerage firm Motilal Oswal expects the strong momentum of Indian Hotels to continue in FY24, on the factors such as:

<ul>
	<li>Improvement in occupancy due to multiple large global events such as G20 and ICC Cricket Men’s World Cup in 2023.</li>
	<li>Increase in ARR due to better demand, upgrades in hotels and corporate rate hikes.</li>
	<li>Higher income from management contracts.</li>
	<li>Value unlocking by launching reimagined and new brands.</li>
</ul>

The brokerage also maintained a ‘buy’ call on Indian Hotels with a target price of Rs 420 per share, aided by better-than-expected ARR (Average Room Rate), the addition of new owned/leased and management hotels, and the normalisation of inbound travel.

Rekha Jhunjhunwala's favourite stock

As of March 2023, Rekha Jhunjhunwala – a renowned stock market investor – has 3,00,16,965 equity shares or 2.11 per cent stake in Indian Hotels, according to the shareholding pattern of the company available on the BSE.

Ace investor Rekha Jhunjhunwala, who is the wife of late market veteran Rakesh Jhunjhunwala, publicly holds 29 stocks with a net worth of over Rs 30,100.3 crore as of May 25, 2023, according to the stock analysis portal Trendlyne.com.

Indian Hotels' share price history

In the last one year, Indian Hotels shares have gained around 72 per cent as compared to nearly 14 per cent rise in the Nifty50 index. Year-to-date, the counter surged over almost 20 per cent against the flat Nifty index during the same period.

Indian Hotels on April 27, 2023, reported a multi-fold year-on-year jump in its March quarter earnings for the financial year gone by at Rs 328.27 crore against a net profit of Rs 74.2 crore logged in the corresponding quarter last fiscal.


This Rekha Jhunjhunwala-backed Tata Group company stock hits fresh high; what should you do?

Page Industries Q4 results preview: Page Industries, which manufactures and markets products under brands, Jockey and Speedo in India, is all set to report its financial results for the quarter ended March 2023 on Thursday, May 25. Analysts expect Bengaluru-based Page Industries to report a weak performance for the three-month period, owing to sticky weakness in demand and elevated inventory costs.&nbsp;&nbsp;

According to Zee Business research, Page Industries – whose popular products include a range of innerwear, loungewear, socks, and swimwear – is likely to report a net profit of Rs 120 crore for the March quarter, which translates to a fall of 37 per cent compared to the corresponding period a year ago.&nbsp;

Analysts estimated the company’s revenue for the three-month period at Rs 1,100 crore, as against Rs 1,111 crore for the year-ago period.&nbsp;

Also Read:&nbsp;<a href="https://www.zeebiz.com/companies/news-fortis-q4-results-net-profit-rises-59-to-rs-138-crore-236686">Fortis Q4 net profit rises 59% to Rs 138 crore</a>

According to the research, Page Industries is likely to report Rs 190 crore in earnings before interest, taxes, depreciation and ammortisation (EBITDA) ) – a measure of the company's overall financial performance, a fall of 29 per cent on a year-on-year basis.&nbsp;&nbsp;

Zee Business analysts peg Page Industries’ margin – a key measure of a business's profitability – at 17 per cent as against 24 per cent a year ago. However, the company’s margin is expected to improve on a sequential basis, mainly driven by better distribution and a favourable product mix.&nbsp;&nbsp;

Investors will look out for the management’s commentary on volume growth, business outlook, store expansion, and momentum in athleisure demand.&nbsp;&nbsp;

<h2>Page Industries shares: Past performance&nbsp;&nbsp;</h2>

The Page Industries stock — traded on the bourses with the symbol PAGEIND&nbsp; — lost 11.5 per cent of its value in the March quarter, a period in which the Nifty headline index declined 4.1 per cent.&nbsp;&nbsp;

<h2>What does Page Industries do?&nbsp;</h2>

Page Industries is the exclusive licensee for the making, marketing, and distribution of products under brands Jockey and Speedo in India.

Catch&nbsp;<a href="https://zeebiz.com/markets/stocks/live-updates-nifty-live-sensex-anil-singhvi-india-share-market-q4-results-bpcl-shree-cement-divis-zomato-jsw-steel-bandhan-dow-live-gold-rate-rupee-dollar-inr-usd-236304" style="list-style-type:none;" target="_blank">latest stock market updates</a>&nbsp;here. For all other news&nbsp;related to business, politics, tech, sports and auto, visit&nbsp;<a href="https://www.zeebiz.com/market-news/live-updates-sensex-nifty-stock-market-india-live-updates-jan-16-hdfc-bank-wipro-dmart-results-share-price-217366" style="list-style-type:none;" target="_blank">Zeebiz.com</a>

Page Industries Q4 results preview:&nbsp;Page Industries, which manufactures and markets products under brands, Jockey and Speedo in India, is all set to report its financial results for the quarter ended March 2023 on Thursday, May 25.&nbsp;


Page Industries Q4 results preview: Jockey, Speedo products maker likely to report muted numbers amid weak demand

InterGlobe Aviation – which owns and operates the IndiGo airline – clocked a second straight quarter of profit as it reported a set of financial results for the March quarter that were better than analysts' estimates. The airline said its profit in two back-to-back quarters largely compensated for losses in the past two quarters.

The <a href="https://www.zeebiz.com/economy-infra/aviation/news-indigo-tops-with-557-market-share-vistara-2nd-air-india-3rd-in-november-213535">quarterly net profit of IndiGo</a> – India’s largest airline in terms of market share – was the highest-ever in the January-March period, driven by a combination of factors.

From easing fuel prices to strong demand for air travel, here's a summary of key factors that aided the company's profitability:

Easing crude oil rates: Crude oil prices have halved to $75-70 levels from their recent peak. In March 2022, benchmark Brent had hit a 14-month high of $139 a barrel. per barrel. Softening of global benchmark oil prices has led to lower prices of air turbine fuel (ATF) or jet fuel.

Better air traffic: The domestic aviation industry continues to witness recovery with air passenger traffic logging around 60 per growth to 13.6 crore in 2022-23 annually. Improving international traffic also aided the company's profitability.

Better Yield: IndiGo’s yield – a key measure of an airline's profitability determining the amount of money generated per passenger per kilometre improved by 10.2 per cent to Rs 4.85 and for the quarter ended March 2023 compared with the corresponding period a year ago.

Healthy load factor: The company’s passenger load factor improved by 7.5 percentage points to 84.2 per cent for the March quarter.

Favourable currency: Besides, favourable forex rates aided the airline's profitability. The rupee eased 0.7 per cent against the US dollar in the March quarter.

IndiGo Q4 results

IndiGo's net profit for the March quarter came in at Rs 919.2 crore and revenue at Rs 14,160.6 crore, according to a regulatory filing.&nbsp; According to Zee Business research, IndiGo's net profit was estimated at Rs 872.9 crore and revenue at Rs 13,736.4 crore.

The airline had registered two quarterly losses, for the July-September and April-June periods primarily owing to multiple headwinds such as the COVID-related impact on demand.

How analysts view the path ahead for IndiGo

Analysts say the aviation industry entered a phase of recovery following lower demand on account of the pandemic till the end of financial year 2021-22. The industry has enjoyed strong passenger traffic since.

A majority of brokerages are upbeat on IndiGo as most analysts believe the airline is likely to continue its growth momentum in the coming quarters.

JPMorgan and Morgan Stanley each have an ‘overweight’ rating whereas Citi and Goldman Sachs each have a ‘buy’ call on IndiGo.

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			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;JP Morgan&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">JP Morgan</td>
			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Overweight&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0) rgb(204, 204, 204); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Overweight</td>
			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Rs 2,700&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0) rgb(204, 204, 204); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Rs 2,700</td>
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			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Morgan Stanley&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Morgan Stanley</td>
			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Overweight&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0) rgb(204, 204, 204); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Overweight</td>
			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Rs 3,126&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0) rgb(204, 204, 204); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Rs 3,126</td>
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			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Citi&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Citi</td>
			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Buy&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0) rgb(204, 204, 204); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Buy</td>
			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Rs 2,400&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0) rgb(204, 204, 204); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Rs 2,400</td>
		</tr>
		<tr style="height: 21px;">
			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Jefferies&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Jefferies</td>
			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Underperform&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0) rgb(204, 204, 204); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Underperform</td>
			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Rs 1,950&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0) rgb(204, 204, 204); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Rs 1,950</td>
		</tr>
		<tr style="height: 21px;">
			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Credit Suisse&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Credit Suisse</td>
			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Outperform&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0) rgb(204, 204, 204); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Outperform</td>
			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Rs 2,450&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0) rgb(204, 204, 204); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Rs 2,450</td>
		</tr>
		<tr style="height: 21px;">
			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Goldman Sachs&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Goldman Sachs</td>
			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Buy&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0) rgb(204, 204, 204); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Buy</td>
			<td data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Rs 2,600&quot;}" style="border-width: 1px; border-style: solid; border-color: rgb(204, 204, 204) rgb(0, 0, 0) rgb(0, 0, 0) rgb(204, 204, 204); border-image: initial; overflow: hidden; padding: 2px 3px; vertical-align: bottom; text-align: center;">Rs 2,600</td>
		</tr>
	</tbody>
</table>

“We believe that IndiGo’s strong cash position would help in sustaining its market share along with pricing power, going forward, which would drive its overall profitability,” said Mitul Shah, Research Analyst at Reliance Securities.

The rising yield, pricing discipline, and falling crude prices would support the turnaround for the airline despite other cost inflation, the analyst added.

Reliance Securities reiterated a ‘buy’ call with a target price of Rs 2,750 apiece.

IndiGo's net profit for the March quarter came in at Rs 919.2 crore and revenue at Rs 14,160.6 crore, according to a regulatory filing.&nbsp;According to Zee Business research, IndiGo's net profit was estimated at Rs 872.9 crore and revenue at Rs 13,736.4 crore.


IndiGo says Q3, Q4 profit largely compensated for losses in past two quarters: Key factors that aided airline's earnings

Punjab National Bank (PNB) Q4 results preview:&nbsp;Punjab National Bank (PNB) – India’s fourth largest public sector lender in terms of market value – is all set to report its financial results for the quarter that ended March 2023 on Friday, May 18. Analysts expect&nbsp;the PSU bank to clock a robust performance driven by double-digit loan growth and stable asset quality.&nbsp;

According to Zee Business research, PNB is likely to report a standalone net profit of Rs 1,800 crore for the three-month period, as against its net profit of Rs 201 crore for the corresponding quarter a year ago. The analysts estimate its&nbsp;net interest income (NII) — or the difference between interest earned and interest paid — at Rs 9,400 crore, which translates to growth of 28.7 per cent on a year-on-year basis.&nbsp;

The analysts expect a 13 per cent growth in loans and an 8-10 per cent expansion in deposits on a year-on-year basis.&nbsp;

The bank's net interest margin – a key measure of profitability for financial institutions — is expected to remain stable on a sequential basis with a reduction in slippages and provisions.

<h2>PNB Q4 results: What else to expect&nbsp;&nbsp;</h2>

“The asset quality trend of PNB may be better off with curtailed slippages and higher recovery pushing down gross non-performing loan,” said Elara Capital.&nbsp;

Given a low base, the bank may have to consistently deliver to match the sector average, according to the brokerage.&nbsp;

Elara Capital has a ‘sell’ call on PNB shares with a target price of Rs 45 per share.

Sharekhan has a ‘buy’ rating on PNB with a target of Rs 64 per share, which implies an upside potential of almost 40 per cent.&nbsp;

Catch&nbsp;<a href="https://www.zeebiz.com/markets/stocks/live-updates-nifty-live-sensex-anil-singhvi-india-share-market-bharti-airtel-q4-results-dividend-news-jubilant-foodworks-paytm-adani-stocks-hindenburg-dow-live-gold-rate-rupee-dollar-235632">latest stock market updates</a>&nbsp;here. For all other news related to business, politics, tech, sports and auto, visit&nbsp;<a href="https://www.zeebiz.com/market-news/live-updates-sensex-nifty-stock-market-india-live-updates-jan-16-hdfc-bank-wipro-dmart-results-share-price-217366">Zeebiz.com</a>.

Punjab National Bank (PNB) Q4 results preview: Zee Business research expects the state-run bank to post a robust performance in the last three months of the fiscal year gone by, driven by double-digit loan growth and stable asset quality.&nbsp;


PNB Q4 results preview: PSU bank's profit likely to soar 9x on double-digit loan growth

Indian equity benchmarks Sensex and Nifty50 are likely to start Tuesday’s session on a positive note, after the Indian share market started the week with gains of about half a per cent amid mixed cues. On Monday, the Nifty50 and BSE Sensex settled at 18,398 and 62,345 levels respectively. Most sectors participated in the up move wherein realty, FMCG, and banking were among the top gainers.

“Rotational buying in heavyweights from key sectors such as banking, financial, auto and FMCG is helping the index maintain a positive tone despite mixed global cues, and indications are in favour of the prevailing trend to continue,” according to Ajit Mishra, VP-Technical Research at Religare Broking. He said traders should align their positions accordingly and avoid contrarian trades.

Stay tuned on Zeebiz.com to find out what could impact your trade today. We have collated a list of the top 10 things to know that could impact the market, companies or the economy:

<h2>SGX Nifty</h2>

Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty 50 index — were up 54.5 points or 0.3 per cent at 18,458 at the last count ahead of the opening bell on Dalal Street, suggesting a positive start ahead in the Indian share market.

<h2>Wall Street</h2>

Overnight on Wall Street, the three main <a href="https://www.zeebiz.com/topics/us-stock-market">US indices</a> ended with modest gains after manufacturing data raised concerns about a slowing US economy that could help bring down inflation amid ongoing debt ceiling negotiations. The Dow Jones Industrial Average rose 48 points, or 0.1 per cent, to 33,348.6, the S&amp;P 500 gained 12.2 points, or 0.3 per cent, to 4,136.3 and the Nasdaq Composite added 80.5 points, or 0.7 per cent, to 12,365.2.

<h2>Asian markets</h2>

Equities in most other <a href="https://www.zeebiz.com/topics/asian-stock-market">Asian markets</a> began the day in the green, with MSCI's broadest index of Asia Pacific shares outside Japan trading 0.3 per cent higher. Japan’s Nikkei 225 and Hong Kong’s Hang Seng were up nearly one per cent each and South Korea’s KOSPI up 0.3 per cent, but China’s Shanghai Composite was flat.

<h2>Rupee vs dollar</h2>

The rupee fell by 13 paise to close at 82.31 against the US currency on Monday, amid strength in the dollar overseas. Gains in domestic stocks and foreign fund inflows restricted the fall in the rupee, according to analysts.

At the interbank foreign exchange, the domestic unit opened at 82.22 against the dollar and settled at 82.31, down 13 paise from its previous close.

<h2>Dollar index&nbsp;</h2>

The <a href="https://www.zeebiz.com/topics/dollar-index">dollar </a>fell from a five-week high on Monday, as investors consolidated gains made last week on the greenback and awaited news from Washington on how to address the debt ceiling issue, which could force the US government to default on its debt if not resolved.

The dollar index, which measures the greenback's value against six major currencies, fell 0.3 per cent to 102.40. During the session, the dollar touched a five-week high of 102.75.

<h2>Crude oil&nbsp;</h2>

<a href="https://www.zeebiz.com/topics/crude-oil-prices">Crude oil prices</a> rose a dollar a barrel on Monday after three straight sessions of declines, boosted by the prospect of tightening supplies in Canada and elsewhere, although recession fears kept pressuring the market. Brent crude futures rose by $1.1 or 1.4 per cent to settle at $75.2 a barrel. US West Texas Intermediate crude settled at $71.1 a barrel, up by $1.1 or 1.5 per cent.

<h2>Windfall tax&nbsp;</h2>

The government cut windfall tax on petroleum crude to zero from Rs 4,100 ($50.1) per tonne, effective May 16, according to a government notification. It left the windfall tax on petrol, diesel and aviation turbine fuel (ATF) unchanged at zero.

On May 1, the levy on petroleum crude was lowered to Rs 4,100 per tonne from Rs 6,400 per tonne.

<h2>Q4 results&nbsp;</h2>

As the earnings season enters its last leg, prominent companies such as Indian Oil Corporation, Bharti Airtel, Bank of Baroda, LIC Housing Finance, Metropolis and Oberoi Realty are scheduled to announce their Q4 earnings on Tuesday.

On Monday, a string of companies reported their quarterly numbers, including Berger Paints, PVR, Pfizer, Coromandel International, and Jindal Steel and Power.

<h2>Wholesale inflation</h2>

India's annual wholesale price index (WPI) fell for the first time in nearly three years in April, as prices softened across the board.

WPI fell by 0.92 per cent from the same month a year earlier, having risen 1.34 per cent in March.&nbsp;

In April, the food index rose 0.17 per cent year-on-year, compared with 2.32 per cent in March, while fuel and power rose 0.93 per cent as against an 8.96 per cent rise in the previous month.

<h2>FII, DII flow</h2>

Foreign portfolio investors (FPIs) remained net buyers of Indian shares worth Rs 1,685.29 crore on Monday whereas domestic institutional investors (DIIs) made net purchases to the tune of Rs 191.20 crore, according to provisional exchange data.

(With inputs from agencies)

The Nifty50 and BSE Sensex on Monday rose half a per cent each to end at 18,398 and 62,345 respectively. Most sectors participated in the upmove with realty, FMCG and banking shares being the top gainers.


From global cues to Q4 results, 10 things to know before the opening bell today

Avenue Supermarts, which operates under the brand name DMart, is expected to report decent financial earnings for the quarter ended March 2023, on Saturday, May 13, 2023. The top line may register double-digit percentage growth, while margins are expected to see marginal pressure in Q4.

According to Zee Business research, DMart – a retail chain company – is likely to report revenue of Rs 10,337 crore for the last three-month period of the previous fiscal, which translates to growth of 20 per cent compared to Rs 8,606 crore in the corresponding quarter a year ago.

The market veteran Radhakishan Damani-promoted company’s profit is estimated at Rs 495 crore for the March quarter of the financial year gone by, as against Rs 466 crore for the year-ago period.

The analysts peg DMart’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) – a measure of the company's overall financial performance – at Rs 799 crore for the three-month period, marking a marginal jump of 8 per cent against Rs 742 in the same quarter a year ago.

They estimate Avenue Supermarts' margin – a key measure of a business's profitability – at 8 per cent, a dip of 100 basis points mainly due to higher inflation and aggressive store expansion.

In line with Zee Business research estimates, ICICI Direct also expects the Radhakishan Damani-owned company may report healthy numbers for the March-end quarter of FY23.

The brokerage believes, “revenue/sq ft for D-Mart is expected at Rs 7,600, down 8-10 per cent pre-Covid levels and store addition was robust as the company added 18 new stores in Q4FY23 taking the total store count to 324.”

The analysts at ICICI Direct said, “Gross margin enhancement would be the critical factor to watch as the management in the previous quarter had indicated that inflationary stress was more acute at lower price points in discretionary non-FMCG categories.”

DMart shares on Friday were flat with negative bias at Rs 3,688.40 per share ahead of the Q4 earnings tomorrow.

Avenue Supermarts, which operates under the brand name DMart, is likely to report a revenue of Rs 10,337 crore for the last three-month period of the previous fiscal.


DMart Q4 Results Preview: Retail firm likely to report healthy numbers; margins may see minor pressure

Mankind Pharma share price BSE, NSE today: Are Mankind Pharma shares witnessing profit-booking finally?&nbsp;The stock of Mankind Pharma – whose popular products include Manforce condoms and Prega News pregnancy test kits – faced some selling pressure on Wednesday, a day after making a stellar debut in the secondary market. Mankind Pharma&nbsp;(MANKIND) shares fell as much as&nbsp;6.3 per cent from their previous close to Rs 1,334.5 apiece on BSE. Even at this level, the stock of the pharma major commanded a premium of&nbsp;23.6 per cent over the upper end of its IPO price band.&nbsp;

The Mankind Pharma stock scaled a new high of Rs&nbsp;1,431 apiece on the bourse within the first few minutes of trade on Wednesday before reversing direction. On Tuesday, the stock had finished the listing day at a premium of 32 per cent over the issue price.&nbsp;

<h2>Mankind Pharma listing: Five key things to know</h2>

<ul>
	<li>The stock staged a bumper debut on Dalal Street, listing at a premium of more than 20 per cent at Rs 1,300 per share.</li>
	<li>Mankind Pharma shares continued to rise after the listing, covering a distance of Rs 100 from Rs 1,300 within the first 90 minutes of trade itself.&nbsp;</li>
	<li>Mankind shares finished the listing day at a premium of 32 per cent over the issue price on stock exchanges BSE and NSE.</li>
	<li>At the end of the listing day, the market capitalisation (mcap) –&nbsp;or market value –&nbsp;of the company stood at Rs 56,976 crore.</li>
	<li>The stock registered a high of Rs 1,430 on the bourses on the listing day.&nbsp;&nbsp;&nbsp;&nbsp;</li>
</ul>

<h2>Mankind Pharma shares: What should investors do with the newly-listed stock?</h2>

Zee Business Managing Editor Anil Singhvi suggests investors to ‘hold’ on to the stock from a long-term perspective. "It is a stock worth having in the portfolio in the long run," he said.

Singhvi also said that even those who intended to exit the stock with a listing gain may hold on to their investments.

Prior to the listing, the market guru had predicted Mankind Pharma to be a game-changer in the IPO space. He suggested buying the stock at Rs 1,150-odd levels.&nbsp;

"One has to see this company differently among drug makers operating in the country given the relatively lower levels of business uncertainties," he said.&nbsp;

<h2>Mankind Pharma shares: What analysts say</h2>

A number of analysts have positive views on the stock.

Mankind Pharma shares are trading a price-to-earnings multiple of 46.7 times on a trailing 12 months basis, said Rajnath Yadav, Senior Analyst at Choice Broking.

Yadav sees limited upside in the stock and suggests investors to book profit and enter at a lower price later subject to availability.

Domestic brokerage firm Motilal Oswal has a ‘buy’ rating on Mankind Pharma shares with a target price of Rs 1,700 per share (27% upside) with a stop loss of Rs 1,260 apiece.&nbsp;

<h2>Mankind Pharma IPO: Key things to know</h2>

The Mankind Pharma IPO was open for subscription from April 25 to April 27. The IPO concluded with an overall subscription of over 15 times with strong participation from institutional investors.

Potential investors could bid for Mankind Pharma shares in a price band of Rs&nbsp;1,026-1,080 apiece in multiples of&nbsp;13 under the IPO.&nbsp;

Catch the<a href="https://www.zeebiz.com/markets/stocks/live-updates-nifty-live-sensex-anil-singhvi-india-share-market-dividend-stock-news-dr-reddy-godrej-consumer-q4-results-karnataka-polls-mankind-pharma-goair-us-inflation-dow-live-gold-rate-today-fed-rupee-dollar-inr-usd-234125">&nbsp;latest stock market updates</a>&nbsp;here. For all other news related to business, politics, tech, sports and auto, visit&nbsp;<a href="https://www.zeebiz.com/">Zeebiz.com</a>.

Mankind Pharma share price: The stock of Mankind Pharma — whose popular products include Manforce condoms and Prega News pregnancy test kits — succumbed to likely profit-booking on Wednesday, a day after the stock clocked a stellar debut in the secondary market. Mankind Pharma shares scaled a high of Rs 1,430 apiece on BSE and NSE each on the listing day.&nbsp;


Mankind Pharma shares fall after blockbuster listing day; here's what investors should do

Mankind Pharma shares made a stellar debut in the secondary market on Tuesday, May 9, starting their journey on exchanges BSE and NSE at Rs 1,300 apiece. However, a spike in the stock of Mankind Pharma (MANKIND)&nbsp;— whose popular products include Manforce condoms and Prega News pregnancy test kits — immediately after the strong debut got investors, at least those looking to book listing gains, wondering whether to press the exit button already.&nbsp;

Within an hour of their journey in the listed space, Mankind Pharma shares reached the Rs 1,400 mark, taking the premium over the upper end of the issue price from 20-odd per cent at debut to almost 30 per cent.&nbsp;

<h2>Should you buy, hold or sell Mankind Pharma shares now?</h2>

Zee Business Managing Editor Anil Singhvi recommends investors to hold on to the stock from a long-term perspective. The market wizard had predicted Mankind Pharma to be a game-changer in the IPO space.

Even those who intended to exit the stock with a listing gain may hold on to their investment, he said.

<h2>How was the Mankind Pharma IPO listing?</h2>

The Mankind Pharma listing even beat Singhvi's expectations. The market guru had expected the stock to debut at Rs 1,200-odd levels, a premium of 11 per cent.&nbsp;

Prior to the listing, Singhvi had suggested long-term investors to hold the stock and buy more around Rs 1,150 per share. The strong performance of the stock is expected post-listing, he added.

"One has to see this company differently among drug makers operating in the country given the relatively lower levels of business uncertainties," he said.

The initial public offering (IPO) of Mankind Pharma, which was open for subscription from April 25 to April 27, saw an overall subscription of more than 15 times with strong participation from institutional investors.

<h2>What analysts say</h2>

Many analysts have positive views on the stock.&nbsp;

Macquarie initiated an ‘outperform’ rating with a target price of Rs 1,400 on Mankind Pharma, just ahead of the listing on BSE and NSE.

According to the brokerage, the company's chronic focus is likely to drive meaningful growth and margin expansion.

Swastika Investmart Head of&nbsp;Research&nbsp;Santosh Meena&nbsp;pointed out that Mankind Pharma has strong fundamentals. "We remain bullish on the stock...&nbsp;Investors may hold for the long term. However, investors who applied for listing gains may either choose to exit or hold it with a stop loss at the issue price,” he said.

Catch the&nbsp;<a href="https://www.zeebiz.com/markets/stocks/live-updates-nifty-live-sensex-anil-singhvi-india-share-market-dividend-stock-q4-results-pidilite-birlasoft-ofss-nerolac-vip-industries-dow-live-gold-rate-today-rupee-dollar-inr-usd-233914">latest stock market updates</a>&nbsp;here. For all other news related to business, politics, tech, sports and auto, visit&nbsp;<a href="https://www.zeebiz.com/">Zeebiz.com</a>.

Mankind Pharma (MANKIND) made a blockbuster debut on stock exchanges BSE and NSE on Tuesday, May 9, 2023, changing hands at levels as high as Rs 1,400 apiece. Market wizard Anil Singhvi recommends buying the stock from a long-term perspective.


Buy, sell or hold Mankind Pharma shares after stellar debut? What Anil Singhvi recommends

Dabur India – a leading fast-moving consumer goods company – is expected to report decent results for the January-March quarter of the financial year 2022-23 (Q4FY23) on Thursday, May 4, 2023.

According to Zee Business research, Dabur – whose popular brands include Dabur Chyawanprash, Dabur Honey, Real Fruit Juices, Hontius Cough Syrup among others – is likely to report a double-digit percentage growth in consolidated profit to Rs 383 crore, up 30 per cent year-on-year in Q4.

The FMCG company in the same quarter of the fiscal year 2021-22 had reported a consolidated profit of Rs 294 crore.

The earnings growth shall mainly be contributed to better volumes, likely double-digit international business growth, and stable gross margins.

While the top-line of ayurvedic products maker is expected to be in mid-single digit percentage growth as estimated by the company in its business update earlier in April.

The consolidated revenue may surge around eight per cent year-on-year to Rs 2,707 crore in the last three-month period of the previous fiscal as compared to Rs 2,518 crore in a year ago quarter.

According to the research, Dabur is estimated to report Rs 483 crore in earnings before interest, taxes, depreciation and amortisation (EBITDA) – a measure of the company's overall financial performance, a jump of seven per cent year-on-year.

On the back mid-single digit growth in profit before tax, Zee Business estimates that the company’s margin – a key measure of a business's profitability – may come nearly flat at 17.8 per cent from 17.95 per cent year-on-year.

The analyst pointed out that higher advertisement spending and currency depreciation will impact EBITDA margins.

However, they believe the company may post volume growth of 3-4 per cent during the March quarter earnings and gross margins are expected to improve this time from last quarter.

Factors to watch out for:

<ul>
	<li>Management commentary on rural demand</li>
	<li>Eye on market share and distribution network</li>
</ul>

Shares of Dabur India ahead of Q4 earnings tomorrow are flat with a positive bias at Rs 538.15 per share on the BSE. The stock in the last one year has been flat as compared to over eight per cent rise in the Nifty50 index.

Dabur India is also a world leader in Ayurveda with a portfolio of over 250 Herbal/Ayurvedic products. The company’s FMCG portfolio today includes nine distinct Power Brands.

Dabur Chyawanprash, Dabur Honey, Dabur Honitus, Dabur Pudin hara and Dabur Lal Tail in the Healthcare space, while Dabur Amla, Vatika and Dabur Red Paste in the Personal Care category; and Real in the Food &amp; Beverages category.

Dabur India is also a world leader in Ayurveda with a portfolio of over 250 Herbal/Ayurvedic products. The company’s FMCG portfolio today includes nine distinct Power Brands such as&nbsp;Dabur Chyawanprash, Dabur Honey, and Dabur Honitus among others.


Dabur Q4 results today: FMCG major’s profit may rise in double-digit; margins likely to be stable

Titan Company – a Tata group manufacturer of jewellery and watches – is expected to report robust earnings for the January-March quarter of the financial year 2022-23 (Q4FY23) on Wednesday, May 3, 2023.

According to Zee Business research, Titan –&nbsp;whose popular brands include Tanishq, CaratLane, Mia, Zoya, Sonata and Helios – is likely to register double-digit percentage growth in both top-line and bottom-line driven by rising gold prices and the wedding season. However, growth may appear sharp over a low base.

The analysts estimate Titan's quarterly net profit at Rs 713 crore for the three-month period, which translates to growth of 45.2 per cent compared with the corresponding quarter a year ago. They peg its revenue at Rs 9,095 crore, up 25 per cent on a year-on-year basis.

According to the research, Titan is estimated to report Rs 1,035 crore in earnings before interest, taxes, depreciation and amortisation (EBITDA) – a measure of the company's overall financial performance, a jump of 32 per cent.

Zee Business estimates expected the company’s margin – a key measure of a business's profitability – to come in flat at 11 per cent compared with the year-ago period.

<h2>What ICICI Direct expects in Titan Q4 results</h2>

In line with Zee Business expectations, most analysts on the Street also believe the company is likely to report a strong quarterly performance.

ICICI Direct is view of that Titan’s has been a secular growth story with consistent market share gains from unorganised players. “Despite a sharp surge in gold prices during the quarter, Titan's jewellery space recorded healthy growth of 23 per cent (YoY) in Q4FY23. Growth was also aided by a partially disrupted base quarter,” the brokerage said in a research report.

Catch&nbsp;<a href="https://www.zeebiz.com/market-news/live-updates-nifty-live-sensex-anil-singhvi-india-share-market-maruti-suzuki-tech-mahindra-bajaj-finance-q4-results-maruti-sbi-hdfc-dividend-news-manking-pharma-ipo-dow-live-nikkei-gold-rate-rupee-dollar-inr-usd-232439">latest stock market updates</a>&nbsp;here. For all other news related to business, politics, tech, sports and auto, visit&nbsp;<a href="https://www.zeebiz.com/market-news/live-updates-sensex-nifty-stock-market-india-live-updates-jan-16-hdfc-bank-wipro-dmart-results-share-price-217366">Zeebiz.com</a>.

According to Zee Business research, Titan is likely to report a net profit of Rs 713 crore for the three-month period, which translates to growth of 45.2 per cent compared to Rs 491 crore for the corresponding quarter a year ago.


Vaibhav Gautam Bansode