Stock Market Today: All You Need To Know Before Going Into Trade On June 1

Good morning!

The GIFT Nifty, an early indicator for the benchmark Nifty 50, is up 0.06% at 23,705 as of 6:53 a.m. Equity-index futures for the US (S&P 500) rose 0.19%, while Europe (Euro Stoxx 50) dipped 0.30%.

India Market Recap

The Sensex declined 2.8% in May, marking its worst May performance in six years. The index had fallen 3.8% in May 2020. The Nifty 50 fell 1.9% in May, logging its worst performance for the month in four years. The index had declined 3% in May 2022.

Intraday, the Nifty fell as much as 1.8% on Friday to 23,484.75 after rising as much as 0.4% to 24,002 earlier. The Sensex declined as much as 1,278 points, or 1.7%, to 74,589.11 after gaining as much as 0.5% to 76,220 earlier.

US Market Recap

On Friday, Wall Street closed at record highs and crude prices dropped, with Nasdaq Composite closing 0.2 up % at 26,972.62 and S&P 500 rose 0.22% to 7,580.06. The Dow Jones Industrial Average up 363.49 points, or 0.72%, at 51,032.46. All three indexes hit fresh all-time intraday highs earlier as well.

Asian Market Update

On Monday, South Korean stocks hit a fresh record high, along with a mixed performance in Asia-Pacific markets as investors continue to weigh in US-Iran conflict linked uncertainties. South Korea’s Kospi climbed 1.31% and small-cap Kosdaq was 1.58% down. Japan’s Nikkei 225 climbed 0.17%, while the Topix dropped 0.3%.

Commodity Check

Oil prices jumped on Monday after hitting their lowest levels in six weeks, as investors looked at the prospects of a peace agreement between the US and Iran that could restore energy flows through the Strait of Hormuz. Brent crude rose toward $93 a barrel after ending Friday at its weakest level since mid-April, while US benchmark West Texas Intermediate traded near $89 a barrel.

Earnings

Triveni Engineering (Q4, Cons YoY)

Revenue down 4.8% at Rs 1,834 crore versus Rs 1,925 crore.
EBITDA down 10.0% at Rs 277 crore versus Rs 308 crore.
EBITDA margin at 15.1% versus 16.0%.
Net profit down 8.5% at Rs 168 crore versus Rs 183 crore.

InterGlobe Aviation (Q4, Cons YoY)

Revenue up 1.3% at Rs 22,438 crore versus Rs 22,152 crore.
EBITDA down 87.0% at Rs 810 crore versus Rs 6,089 crore.
EBITDA margin at 3.6% versus 27.5%.
Net loss at Rs 2,536 crore versus a profit of Rs 3,068 crore.
Note: The company incurred a massive forex loss of Rs 4,823 crore and a one-time loss of Rs 250 crore in Q4.

Inox Wind (Q4, Cons YoY)

Revenue down 0.4% at Rs 1,306 crore versus Rs 1,311 crore.
EBITDA down 10.0% at Rs 261 crore versus Rs 290 crore.
EBITDA margin at 20.0% versus 22.1%.
Net profit down 51.1% at Rs 91.3 crore versus Rs 186.8 crore.

Premier Explosives (Q4, Cons YoY)

Revenue up 20.4% at Rs 89.2 crore versus Rs 74.1 crore.
EBITDA loss at Rs 0.4 crore versus a profit of Rs 9.6 crore.
Net profit up 75.9% at Rs 6.6 crore versus Rs 3.7 crore.

Ingersoll Rand (Q4, YoY)

Revenue down 7.1% at Rs 300 crore versus Rs 322 crore.
EBITDA down 17.4% at Rs 69 crore versus Rs 83.5 crore.
EBITDA margin at 23.0% versus 25.9%.
Net profit down 4.3% at Rs 64.8 crore versus Rs 67.7 crore.
Note: The board declared a dividend of Rs 20 per share.

Rubicon Research (Q4, Cons YoY)

Revenue up 43.5% at Rs 514 crore versus Rs 358 crore.
EBITDA up 63.8% at Rs 118.6 crore versus Rs 72.4 crore.
EBITDA margin at 23.1%.
Net profit at Rs 76.8 crore versus Rs 36.2 crore.

Concord Biotech (Q4, Cons YoY)

Revenue down 24.2% at Rs 326 crore versus Rs 430 crore.
EBITDA down 37.8% at Rs 118 crore versus Rs 190 crore.
EBITDA margin at 36.3% versus 44.3%.
Net profit down 36.8% at Rs 88.8 crore versus Rs 140 crore.
Note: The board declared a dividend of Rs 7.55 per share.

Lumax Auto Tech (Q4, Cons YoY)

Revenue up 25.1% at Rs 1,417 crore versus Rs 1,133 crore.
EBITDA up 29.8% at Rs 203 crore versus Rs 157 crore.
EBITDA margin at 14.3% versus 13.8%.
Net profit up 50.9% at Rs 88.1 crore versus Rs 58.4 crore.
Note: The board declared a dividend of Rs 5.50 per share.

JM Financial (Q4, Cons QoQ)

Total Income down 13.9% at Rs 969 crore versus Rs 1,126 crore.
Net profit down 47.1% at Rs 165 crore versus Rs 313 crore.

TARC (Q4, Cons YoY)

Revenue at Rs 244.7 crore versus Rs 11.8 crore.
EBITDA loss at Rs 72.4 crore.
Net profit at Rs 1.6 crore versus a loss of Rs 104.5 crore.

EMS (Q4, Cons YoY)

Revenue down 55.4% at Rs 120.5 crore versus Rs 269.8 crore.
EBITDA down 71.8% at Rs 18.3 crore versus Rs 64.8 crore.
EBITDA margin at 15.2% versus 24.0%.
Net profit down 88.0% at Rs 5.6 crore versus Rs 46.6 crore.

Sunflag Iron (Q4, Cons YoY)

Revenue up 13.3% at Rs 1,001 crore versus Rs 883 crore.
EBITDA up 23.5% at Rs 124 crore versus Rs 100.4 crore.
EBITDA margin at 12.4% versus 11.4%.
Net profit down 20.7% at Rs 34.3 crore versus Rs 43.2 crore.
Note: The board declared a final dividend of Rs 10 per share.

Kingfa Science (Q4, YoY)

Revenue up 23.2% at Rs 579 crore versus Rs 470 crore.
EBITDA up 34.1% at Rs 81 crore versus Rs 60.4 crore.
EBITDA margin at 14.0%.
Net profit up 41.1% at Rs 59.1 crore versus Rs 41.9 crore.

Swan Corp (Q4, Cons YoY)

Revenue up 1.6% at Rs 870 crore versus Rs 856 crore.
EBITDA loss at Rs 261 crore.
Net profit at Rs 269 crore versus a loss of Rs 17.7 crore.
Note: Other income surged to Rs 639 crore versus Rs 26 crore YoY. The board reappointed Sugavanam Padmanabhan as Whole-Time Director.

Olectra Greentech (Q4, Cons YoY)

Revenue up 43.6% at Rs 645 crore versus Rs 449 crore.
EBITDA up 76.3% at Rs 99.6 crore versus Rs 56.5 crore.
EBITDA margin at 15.4% versus 12.6%.
Net profit at Rs 55.5 crore versus Rs 21 crore.
Note: The board declared a final dividend of Rs 4 per share.

Glenmark Pharma (Q4, Cons YoY)

Revenue up 15.8% at Rs 3,771 crore versus Rs 3,256 crore.
EBITDA up 35.9% at Rs 763 crore versus Rs 561 crore.
EBITDA margin at 20.2% versus 17.2%.
Net profit at Rs 301 crore versus Rs 4.7 crore.
Note: The board declared a dividend of Rs 2.50 per share and approved transferring the Nebulizer brands and IP portfolio to its arm, Glenmark Healthcare, for Rs 223 crore.

NMDC (Q4, Cons QoQ)

Revenue up 49.0% at Rs 11,343 crore versus Rs 7,611 crore.
EBITDA up 23.2% at Rs 2,643 crore versus Rs 2,145 crore.
EBITDA margin at 23.3% versus 28.2%.
Net profit up 15.5% at Rs 2,018 crore versus Rs 1,747 crore.

ALSO READ: Trade Setup For June 1: Nifty Support Sinks to 23,350 Post-Crash; GIFT Nifty Signals Red Start

KNR Constructions (Q4, Cons YoY)

Revenue down 28.7% at Rs 696 crore versus Rs 975 crore.
EBITDA down 23.7% at Rs 169 crore versus Rs 222 crore.
EBITDA margin at 24.3%.
Net profit down 23.7% at Rs 106 crore versus Rs 139 crore.

RHI Magnesita (Q4, Cons YoY)

Revenue up 1.6% at Rs 932 crore versus Rs 918 crore.
EBITDA down 6.0% at Rs 87.4 crore versus Rs 93 crore.
EBITDA margin at 9.4% versus 10.1%.
Net loss at Rs 518 crore versus a profit of Rs 36.2 crore.
Note: The company took a one-time loss of Rs 556 crore in Q4. The board declared a dividend of Rs 2.50 per share.

NMDC Steel (Q4, Cons QoQ)

Revenue up 29.0% at Rs 3,879 crore versus Rs 3,007 crore.
EBITDA at Rs 805 crore versus Rs 141 crore.
EBITDA margin at 20.8% versus 4.7%.
Net profit at Rs 392 crore versus a loss of Rs 244 crore.

Tilaknagar Industries (Q4, Cons YoY)

Revenue at Rs 2,090 crore versus Rs 859 crore.
EBITDA up 96.9% at Rs 155 crore versus Rs 78.5 crore.
EBITDA margin at 7.4% versus 9.1%.
Net loss at Rs 14.9 crore versus a profit of Rs 77.4 crore.
Note: The company saw a one-time loss of Rs 63 crore in Q4. The board approved the amalgamation of two subsidiaries, Punjabexpo and Vahni, into the company, and reappointed Amit Dahanukar as CMD for 3 years.

Hinduja Global (Q4, Cons YoY)

Revenue down 6.6% at Rs 1,085 crore versus Rs 1,161 crore.
EBITDA down 38.8% at Rs 87.2 crore versus Rs 143 crore.
EBITDA margin at 8.0% versus 12.3%.
Net loss at Rs 6.3 crore versus a profit of Rs 3.8 crore.

Antony Waste (Q4, Cons YoY)

Revenue up 17.8% at Rs 286 crore versus Rs 243 crore.
EBITDA up 11.4% at Rs 56.9 crore versus Rs 51.1 crore.
EBITDA margin at 19.9% versus 21.1%.
Net profit down 18.7% at Rs 32.5 crore versus Rs 40 crore.

Dreamfolks Services (Q4, Cons YoY)

Revenue up 67.5% at Rs 52.6 crore versus Rs 31.4 crore.
Net loss at Rs 13.1 crore versus a profit of Rs 14.9 crore.

Shreeji Shipping (Q4, Cons YoY)

Revenue up 20.5% at Rs 188 crore versus Rs 156 crore.
EBITDA down 41.8% at Rs 43.9 crore versus Rs 75.4 crore.
EBITDA margin at 23.3% versus 48.3%.
Net profit down 18.1% at Rs 40.3 crore versus Rs 49.2 crore.

IREDA (Q4, Cons YoY)

Revenue up 14.2% at Rs 2,175 crore versus Rs 1,905 crore.
EBITDA up 7.7% at Rs 1,867 crore versus Rs 1,734 crore.
EBITDA margin at 85.8% versus 91.0%.
Net profit down 1.8% at Rs 493 crore versus Rs 502 crore.

Stocks In News

Suven Life: The company received an IT rectification order for AY21 concerning an R&D deduction disallowance, which it plans to challenge in appeal.
Power Finance Corp: The company transferred its arm, PFC Consulting, to Resonia (a Sterlite Grid arm) for Rs 20.9 crore. It also sold its Tumkur II RE Transmission unit to Power Grid for Rs 15.5 crore.
Hindustan Copper: Awarded a 20-year contract to Lohum Materials to resume operations at its Gujarat Copper Unit.
Vedanta: Extended the tenure of Arun Mishra as Executive Director for 2 months.
Hero MotoCorp: LIC sold a 2% stake in the automaker, reducing its total shareholding to 5.1%.
SBI: The lender successfully priced $200 million in senior unsecured bonds, to be issued via its London branch on June 5.
Lupin: The company received US FDA approval for the bioequivalent of Sutab Tablets. Additionally, its arm Nanomi delayed its minority stake acquisition in the Philippines from May to July 2026.
Eveready Industries: Commenced operations at its new alkaline battery manufacturing unit in Jammu.
JSW Steel: Its subsidiary, JSW Steel Coated Products, received a Letter of Intent for the Colour Roof resolution plan, subject to final NCLT approval.
Hindustan Zinc: Appointed Amit Gupta as CFO effective June 1 and extended the tenure of CEO Arun Mishra by 2 months.
Central Bank of India: Approved a fourth interim dividend payout of Rs 485 crore to the government, taking the total FY26 payout to Rs 970 crore.
Seamec: Announced that its vessel ‘Seamec Swordfish’ has been hired after the successful redressal of a technical defect.
Vardhman Textiles: Acquired a 31.2% stake in Renew Green for a consideration of Rs 24.5 crore.
FACT: Appointed Pradeepkumar C as its new Chief Financial Officer.
SBI Life: Appointed Ramesh Venkateshamurthy to the role of Deputy CEO.
Power Grid: Acquired the Tumkur II RE SPV for Rs 15.5 crore, a project designed for 2.7 GW of renewable energy integration.
Dalmia Bharat: Executed a transfer pact with Jaiprakash Associates where its arm, DCBL, will acquire 3 plants in UP and 1 in MP. This adds 5.2 MnTPA of cement capacity, taking total capacity to 54.7 MnTPA.
PNC Infratech: Emerged as the L1 bidder for an Rs 302 crore EPC project awarded by the Airports Authority of India.

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Tata Tech: Fixed June 18 as the record date for its upcoming dividend payout of Rs 11.7 per share.
MMTC: The government extended the tenure of Nitin Kumar Yadav as CMD of MMTC, PEC, and STC for another year, until April 26, 2027.
NHPC: Raised Rs 2,000 crore via bonds on a private placement basis.
Digitide Solutions: Appointed Sameer Ahluwalia as Whole-time Director, designated as CEO and ED, for a 3-year term following the resignation of Gurmeet Singh Chahal.
Jubilant Pharmova: Received a USFDA warning letter for its Canada facility post an inspection at the Montreal unit. The company has initiated corrective actions and operations continue under enhanced oversight.
Hemisphere Properties: Shareholders approved the sale of a land parcel in Pune to Hypervault AI Data Center for Rs 640.5 crore.

Bulk Block Deals

Anzen India Energy Yield Plus Trust: Prazim Trading And Investment bought 1.69 cr shares at Rs.125 per share, Edelweiss Infrastructure Yield Plus sold 1.69 cr shares at Rs.125 per share
Anand Rathi Wealth: ANAND RATHI FINANCIAL SERVICES sold 14.46 lk shares at Rs. 3457.97 per share.
Delta Corp: SUBHKAM VENTURES I PRIVATE LIMITED sold 17.95 lk shares at Rs. 68.25 per share.
Federal Bank: INTEGRATED CORE STRATEGIES (ASIA) sold 1.51 cr shares at Rs. 288.36 per share.
Rail Vikas Nigam: INTEGRATED CORE STRATEGIES (ASIA) bought 1.27 cr shares at Rs. 245.46 per share.
GMM Pfaudler: ISHARES CORE MSCI EMERGING MARKETS ETF sold 2.86 lk shares at Rs. 768.3 per share.
Kalyan Jewellers: INTEGRATED CORE STRATEGIES (ASIA) bought 93.81 lk shares at Rs. 355.31 per share.

Trading Tweaks

Price Band change from 10% to 5%: HFCL
Price Band change from 20% to 10%: Bliss GVS Pharma

Short Term ASM

List of securities shortlisted in Short – Term ASM Framework Stage: Adani Total Gas, Jaykay Enterprises, Novartis India.
List of securities to be excluded from ASM Framework: Bharat Wire Ropes, Bliss GVS Pharma, Jain Resource Recyclling.

F&O Cues

Nifty Jun futures is down 1.07% to 23,740 at a premium of 193 points.
Nifty Options 2nd June Expiry: Maximum Call open interest at 24000 and Maximum Put open interest at 23000.

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