StockAxis Weekly Newsletter May 08, 2022

Equity Benchmark Indices log worst week in over five months.

Indian Markets

Equity Benchmark Indices log worst week in over five months. S&P BSE Sensex degrew (-3.74%) to 54,928.29 in the week ending May 6th, while the NSE Nifty50 declined (-4.04%) to 16,411.25.

On the sectoral front, NiftyFMCG (-2.42%), NiftyIT (-2.9%), outperformed the NSE Nifty50 index and NiftyBank (-4.1%), NiftyMetal (-4.1%), NiftyPSUBank (-4.4%), NiftyPharma (-4.8%), NiftyAuto (-5.05%), NiftyMedia (-6.0%), NiftyRealty (-8.0%), underperformed the index.

The India VIX was +9.5% to 21.25.

FIIs/DIIs Daily Cash Market Activity (INR. in Crores)

News Update

Maruti Suzuki India: Company has sold a total of 150,661 units in April 2022 as compared to 159,691 units in April 2021. Total sales in the month include domestic sales of 126,261 units, sales to other OEM of 5,987 units and exports of 18,413 units. The shortage of electronic components had a minor impact on the production of vehicles, mainly domestic models. The Company took all possible measures to minimise the impact.

Bajaj Auto: Company has reported 20 percent fall in total sales to 3,10,774 units in April 2022 as against 3,88,016 in the same month last year. Total domestic sales decreased by 24 percent to 1,02,177 units in April as compared to 1,34,471 units in April 2021. Total two-wheeler sales were down 19 percent at 2,81,711 units as compared to 3,48,173 units in the year-ago month. Commercial Vehicles sales stood at 29,063 units in April 2022 as against 39,843 units in April 2021, registering a fall of 27 percent. Meanwhile, exports of the company stood at 2,08,597 units in the reporting month compared to 2,53,545 in the same month last year.

Tata Chemical: The company has reported 2-fold jump in its net profit at Rs 262.76 crore for the quarter under review as compared to Rs 119.60 crore for the same quarter in the previous year. Total income of the company increased by 36.27% at Rs 1,217.12 crore for Q4FY22 as compared Rs 893.20 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported over 15-fold jump in its net profit at Rs 445.43 crore for the quarter under review as compared to Rs 29.26 crore for the same quarter in the previous year. Total income of the company increased by 32.81% at Rs 3,586.91 crore for Q4FY22 as compared Rs 2,700.72 crore for the corresponding quarter previous year.

Housing Development Finance Corporation (HDFC): The company has reported a rise of 16.37% in its net profit at Rs 3,700.32 crore for the quarter under review as compared to Rs 3,179.83 crore for the same quarter in the previous year. Total income of the company increased by 5.13% at Rs 12,308.46 crore for Q4FY22 as compared Rs 11,707.53 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported a rise of 21.57% in its net profit at Rs 6,892.16 crore for the quarter under review as compared to Rs 5,669.38 crore for the same quarter in the previous year. However, total income of the company decreased by 1.94% at Rs 35,059.75 crore for Q4FY22 as compared Rs 35,753.86 crore for the corresponding quarter previous year.

Tata Steel: The company has reported a fall of 3.57% in its net profit at Rs 7,839.46 crore for the quarter under review as compared to Rs 8,129.65 crore for the same quarter in the previous year. However, total income of the company increased by 34.80% at Rs 37,187.09 crore for Q4FY22 as compared Rs 27,587.25 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported a rise of 37.33% in its net profit at Rs 9,835.12 crore for the quarter under review as compared to Rs 7,161.91 crore for the same quarter in the previous year. Total income of the company increased by 38.40% at Rs 69,615.70 crore for Q4FY22 as compared Rs 50,300.55 crore for the corresponding quarter previous year.

Gland Pharma: Company through its partner has launched Bortezomib for Injection, 3.5 mg/vial, Single-Dose Vial in the US Market. It is the bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Velcade for Injection, 3.5 mg/vial of Takeda Pharmaceuticals U.S.A., Inc. Bortezomib for injection is used to treat certain types of cancer such as multiple myeloma and mantle cell lymphoma. Velcade has a market size of USD 1,172 million for the twelve months ending March 2022, according to IQVIA. Gland Pharma’s partner has received the ANDA approval for the product from U.S. Food & Drug Administration (USFDA). Gland Pharma is manufacturing and supplying this product to its partner for the US market.

Kotak Mahindra Bank: The bank has reported a rise of 64.49% in its net profit at Rs 2,767.40 crore for the quarter under review as compared to Rs 1,682.37 crore for the same quarter in the previous year. Total income of the bank increased by 11.81% at Rs 8,892.26 crore for Q4FY22 as compared Rs 7,953.12 crore for the corresponding quarter previous year. On the consolidated basis, the bank has reported a rise of 50.30% in its net profit at Rs 3,891.82 crore for the quarter under review as compared to Rs 2,589.32 crore for the same quarter in the previous year. Total income of the bank increased by 6.80% at Rs 16,794.19 crore for Q4FY22 as compared Rs 15,725.03 crore for the corresponding quarter previous year.

Alembic Pharmaceutical: The company has reported a rise of 8.77% in its net profit at Rs 251.37 crore for the quarter under review as compared to Rs 231.11 crore for the same quarter in the previous year. Total income of the company increased by 11.33% at Rs 1315.91 crore for Q4FY22 as compared Rs 1181.98 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported fall of 85.86% in its net profit at Rs 35.46 crore for the quarter under review as compared to Rs 250.70 crore for the same quarter in the previous year. However, total income of the company increased by 9.21% at Rs 1426.01 crore for Q4FY22 as compared Rs 1305.80 crore for the corresponding quarter previous year.

Mahindra & Mahindra Financial Services: The company has reported 4-fold jump in its net profit at Rs 600.80 crore for the quarter under review as compared to Rs 149.97 crore for the same quarter in the previous year. However, total income of the company decreased by 6.49% at Rs 2466.36 crore for Q4FY22 as compared Rs 2637.51 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported above 2-fold jump in its net profit at Rs 628.81 crore for the quarter under review as compared to Rs 218.84 crore for the same quarter in the previous year. However, total income of the company decreased by 4.64% at Rs 2897.44 crore for Q4FY22 as compared Rs 3038.37 crore for the corresponding quarter previous year.

Tata Consumer Products: The company has reported around 3-fold jump in its net profit at Rs 206.19 crore for the quarter under review as compared to Rs 81.69 crore for the same quarter in the previous year. Total income of the company increased by 5.72% at Rs 1,986.30 crore for Q4FY22 as compared Rs 1,878.78 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported over 2-fold jump in its net profit at Rs 289.23 crore for the quarter under review as compared to Rs 133.34 crore for the same quarter in the previous year. Total income of the company increased by 4.63% at Rs 3,222.80 crore for Q4FY22 as compared Rs 3,080.18 crore for the corresponding quarter previous year.

Havells India: The company has reported a rise of 16.77% in its net profit at Rs 352.95 crore for the quarter under review as compared to Rs 302.27 crore for the same quarter in the previous year. Total income of the company increased by 32.44% at Rs 4,461.21 crore for Q4FY22 as compared Rs 3,368.40 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported a rise of 16.01% in its net profit at Rs 352.48 crore for the quarter under review as compared to Rs 303.83 crore for the same quarter in the previous year. Total income of the company increased by 32.42% at Rs 4,470.37 crore for Q4FY22 as compared Rs 3,375.80 crore for the corresponding quarter previous year.

Indian Energy Exchange: Company achieved 7574 million unit (MU) volume across all the market segments in April 2022 comprising 6989 MU in the conventional power market, 336 MU in the green power market, and 249 MU in the REC Market. The volumes declined 1.7% vis-a-vis April 2021 considering the power supply related constraints which also led to high clearing prices across all the market segments. During April 2022, the energy consumption at 133 BU saw 11% YoY growth while the national peak demand at 207.11 GW saw 13% YoY growth.

Marico: The company has reported a rise of 20.08% in its net profit at Rs 293 crore for the quarter under review as compared to Rs 244 crore for the same quarter in the previous year. Total income of the company increased by 5.84% at Rs 1,812 crore for Q4FY22 as compared Rs 1,712 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported a rise of 13.22% in its net profit at Rs 257 crore for the quarter under review as compared to Rs 227 crore for the same quarter in the previous year. Total income of the company increased by 7.06% at Rs 2,185 crore for Q4FY22 as compared Rs 2,041 crore for the corresponding quarter previous year.

Future Enterprises: Company has sold 25% stake in general insurance joint venture (JV) Future Generali India Insurance Company (FGIICL) to its partner Generali Participations Netherlands N.V. for Rs 1,266.07 crore. Following the receipt of key approvals from regulatory authorities, the transaction was consummated on May 5. After the sale, Future Enterprises continues to hold, both directly and indirectly, 24.91% shares in FGIICL.

Lupin: Company has received approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA), Pregabalin Capsules, 25 mg, 50 mg, 75 mg, 100 mg, 150 mg, 200 mg, 225 mg and 300 mg to market a generic equivalent of Lyrica Capsules, 25 mg, 50 mg, 75 mg, 100 mg, 150 mg, 200 mg, 225 mg and 300 mg of Upjohn US 2 LLC. The product will be manufactured at Lupin's facility in Aurangabad, India.

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