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Stocks to watch- Dr Reddy's Laboratories: The pharmaceutical company reported a net profit of ₹1,307 crore for Q4FY24, a 36% year-on-year increase, primarily driven by strong performance in the US market. The company's revenue increased to ₹7,083 crore during the quarter, a 12% year-on-year growth. For the full year FY24, DRL reported a net profit of 5,568.4 crore, a 36% increase, and total revenues of ₹27,920 crore, up 14% on year. The company expects FY25 to allow a double-digit growth with a 25% Ebitda. The company's global generics segment saw a 13% revenue increase to ₹6,120 crore, mainly due to higher base business volumes and new product launches. PB Fintech: The parent company of Policybazaar reported a net profit of ₹60.19 crore for Q4FY24, a significant improvement from a loss of ₹9.34 crore in the same period last year. The company's consolidated revenue for the quarter was 1,089.57 crore, a 25.36% increase from the previous year. The total insurance premium for the quarter was 5,127 crore, contributing to an Annual Recurring Revenue (ARR) of ₹20,000 crore in insurance premiums. This growth was mainly due to the expansion in the new health and life insurance segments. The company's cash position improved by ₹259 crore year-on-year, reaching ₹5,263 crore, thanks to a 39% year-on-year growth in core online revenue, which amounted to ₹2,375 crore. Adjusted EBITDA rose to ₹324 crore from 107 crore, improving the margin from 6% to 14%. Larsen & Toubro: L&T is anticipated to deliver strong Q4FY24 results, driven by enhanced construction activity, robust demand, and a solid order book. The company's net profit for the fiscal fourth quarter is projected to increase by 9.8% YoY to ₹4,380 crore. Revenue is expected to surge by 18.6% YoY to ₹65,402 crore, and EBITDA is likely to rise by 31% YoY to ₹7,553.9 crore. The results will be announced on May 8. JSW Energy: The company reported a 29% increase in its consolidated net profit to ₹351 crore in the March quarter, primarily due to higher revenues. The company's total revenue for the quarter increased by 3% year-on-year to ₹2,879 crore. The board recommended a dividend of ₹2 per equity share of ₹10 (20%) and approved the raising of funds not exceeding ₹10,000 crore in one or more tranches. Jaiprakash Associates: JAL has failed to meet its loan repayment obligations on April 30, amounting to ₹4,616 crore. The company's financial commitments are undergoing restructuring, and out of its total debt of ₹29,805 crore, JAL plans to transfer 18,955 crore to a Special Purpose Vehicle (SPV). Voltas: The company reported a 22.8% YoY drop in net profit at 110.6 crore for Q4FY24. The company's revenue from operations jumped 42.1% to ₹4,202.9 crore. EBITDA fell 12.6% to ₹190.6 crore in the fourth quarter of this fiscal. Pidilite Industries: The company reported a 6.4% YoY increase in net profit at ₹304.3 crore for the fourth quarter that ended March 31, 2024. The company's revenue from operations increased 7.9% to ₹2,901.9 crore. EBITDA jumped 25.6% to 576.9 crore in the fourth quarter of this fiscal. The board of directors have recommended a dividend of 16 per equity share of 1 each for the financial year ended March 31, 2024.

Stocks to watch- Dr Reddy's Laboratories: The pharmaceutical company reported a net profit of ₹1,307 crore for Q4FY24, a 36% year-on-year increase, primarily driven by strong performance in the US market. The company's revenue increased to ₹7,083 crore during the quarter, a 12% year-on-year growth. For the full year FY24, DRL reported a net profit of 5,568.4 crore, a 36% increase, and total revenues of ₹27,920 crore, up 14% on year. The company expects FY25 to allow a double-digit growth with a 25% Ebitda. The company's global generics segment saw a 13% revenue increase to ₹6,120 crore, mainly due to higher base business volumes and new product launches. PB Fintech: The parent company of Policybazaar reported a net profit of ₹60.19 crore for Q4FY24, a significant improvement from a loss of ₹9.34 crore in the same period last year. The company's consolidated revenue for the quarter was 1,089.57 crore, a 25.36% increase from the previous year. The total insurance premium for the quarter was 5,127 crore, contributing to an Annual Recurring Revenue (ARR) of ₹20,000 crore in insurance premiums. This growth was mainly due to the expansion in the new health and life insurance segments. The company's cash position improved by ₹259 crore year-on-year, reaching ₹5,263 crore, thanks to a 39% year-on-year growth in core online revenue, which amounted to ₹2,375 crore. Adjusted EBITDA rose to ₹324 crore from 107 crore, improving the margin from 6% to 14%. Larsen & Toubro: L&T is anticipated to deliver strong Q4FY24 results, driven by enhanced construction activity, robust demand, and a solid order book. The company's net profit for the fiscal fourth quarter is projected to increase by 9.8% YoY to ₹4,380 crore. Revenue is expected to surge by 18.6% YoY to ₹65,402 crore, and EBITDA is likely to rise by 31% YoY to ₹7,553.9 crore. The results will be announced on May 8. JSW Energy: The company reported a 29% increase in its consolidated net profit to ₹351 crore in the March quarter, primarily due to higher revenues. The company's total revenue for the quarter increased by 3% year-on-year to ₹2,879 crore. The board recommended a dividend of ₹2 per equity share of ₹10 (20%) and approved the raising of funds not exceeding ₹10,000 crore in one or more tranches. Jaiprakash Associates: JAL has failed to meet its loan repayment obligations on April 30, amounting to ₹4,616 crore. The company's financial commitments are undergoing restructuring, and out of its total debt of ₹29,805 crore, JAL plans to transfer 18,955 crore to a Special Purpose Vehicle (SPV). Voltas: The company reported a 22.8% YoY drop in net profit at 110.6 crore for Q4FY24. The company's revenue from operations jumped 42.1% to ₹4,202.9 crore. EBITDA fell 12.6% to ₹190.6 crore in the fourth quarter of this fiscal. Pidilite Industries: The company reported a 6.4% YoY increase in net profit at ₹304.3 crore for the fourth quarter that ended March 31, 2024. The company's revenue from operations increased 7.9% to ₹2,901.9 crore. EBITDA jumped 25.6% to 576.9 crore in the fourth quarter of this fiscal. The board of directors have recommended a dividend of 16 per equity share of 1 each for the financial year ended March 31, 2024.

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STOCKS KA GYAN 💬 🔸India's apex planning and advisory body for the power sector has eased a key condition for #power equipment supplies for public sector projects, a move that is expected to let utilities to issue tenders allowing larger private vendor participation. 🔸India's construction equipment industry witnessed a 26% rise in sales to 1,35,650 units in the 2023-24 fiscal on the back of the government's infrastructure-led growth agenda. 🔸 #Persistent Systems announced the launch of “iAURA”, a suite of AI-powered data solutions engineered to catalyze business growth. iAURA empowers businesses with seamless deployment and precision in addressing data challenges for AI implementations. 🔸 #Infosys informed the stock exchange that the company and ServiceNow are strengthening their collaboration to utilize generative AI for enhancing customer experiences. 🔸 #Infosys informed the stock exchange that it has been certified with ISO 42001:2023 Certification for Artificial Intelligence Management System, by TUV India (part of TÜV Nord Group). 🔸 #TataElxsi informed the stock exchange that it has collaborated with Arm, the global semiconductor design and software platform company to offer advanced solutions on the latest Arm processors, which will help Automotive OEMs and Tier-1s fast track their transition to software-defined vehicles (SDVs).

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Market Update: Nifty: 22,310.30 (-132.35 points) Sensex: 73,539.20 (-355.25 points) European Markets: FTSE: 8,289.10 (+0.98%) CAC: 8,011.02 (+0.17%) DAX: 18,238.65(+0.35%)

Nifty Option Chain Analysis- 9MAY2024 CMP: 22290 (1:40PM) 📌 A breach below the Technical Support of 22350 induced further pressure, pushing Nifty all the way down towards the levels of 22240. OI skewed towards CALLs. 📌 The OI data is –Vely skewed, reflecting the current weakness: • Total OI : CALL @ 58Lk (+11.9Lk) Vs PUTs @ 32Lk (+3.1Lk); PCR @ 0.55 Vs 0.60 in the morning ~ 10:30AM. • In Active-Strikes near ATM (marked in Grey), the OI additions are also highly skewed towards CALLS @ +9Lk Vs only 0.6Lk PUTs 📌 Money-flow Activity since Morning: Significant +Ve M2M differential seen for CALL Writers. 📌 Intraday Sup: 22200; Res: 22380 📌 Current numbers are negative; However, the possibility of a reversal from lower levels of ~22200 is not ruled out. Initiated: Buy NIFTY 9MAY2024 22500PE @ 170; Status: TGT2 @ 240 Done We are vigilant of any further Trading opportunity on either side.

Nifty Option Chain Analysis- 9MAY2024 CMP: 22290 (1:40PM) 📌 A breach below the Technical Support of 22350 induced further pressure, pushing Nifty all the way down towards the levels of 22240. OI skewed towards CALLs. 📌 The OI data is –Vely skewed, reflecting the current weakness: • Total OI : CALL @ 58Lk (+11.9Lk) Vs PUTs @ 32Lk (+3.1Lk); PCR @ 0.55 Vs 0.60 in the morning ~ 10:30AM. • In Active-Strikes near ATM (marked in Grey), the OI additions are also highly skewed towards CALLS @ +9Lk Vs only 0.6Lk PUTs 📌 Money-flow Activity since Morning: Significant +Ve M2M differential seen for CALL Writers. 📌 Intraday Sup: 22200; Res: 22380 📌 Current numbers are negative; However, the possibility of a reversal from lower levels of ~22200 is not ruled out. Initiated: Buy NIFTY 9MAY2024 22500PE @ 170; Status: TGT2 @ 240 Done We are vigilant of any further Trading opportunity on either side.

NEWSPAPER 🗞️ *News Headlines from Business News Agencies:* *Business Standard* 📝 Investors pull $9.9 billion from hedge funds in March: NASDAQ eVestment 📝 Wipro, Microsoft team up for AI virtual assistants for financial services 📝 Marico Q4FY24 results: Net profit up 5% at Rs 318 cr, revenue rises 1.7% 📝 Elections will not have impact on CV sales: Ashok Leyland MD & CEO 📝 Quadria Capital acquires minority stake in NephroPlus for $102 million 📝 India's airlines to have 50% mkt share of int'l passengers by FY28: CRISIL 📝 FirstCry's parent company Brainbees Solutions re-files documents for IPO 📝 India and Ghana agree to operationalise UPI link within six months 📝 Indian Bank Q4 results: Net profit jumps 55% to Rs 2,247 crore, NII up 9% 📝 Petrobras loads diesel from RIL on crude tanker in India after delay 📝 Investments through P-note surge to near 6-yr high at Rs 1.5 trillion 📝 Coromandel expands agtech footprint, increases shareholding in Ecozen *Economic Times* 📝 Railways clocks 1.46% higher freight loading in April 2024 📝 Marico eyes foods portfolio to be 2x of current scale in FY27 📝 Zee Media Corporation terminates CEO Abhay Ojha 📝 SBI invested Rs 714 crore in TCG’s Gurugram project 📝 CBAM, permanent establishment rules, transfer pricing key in India’s outbound FDI: EY 📝 We expect strong momentum to continue in business: Warren Harris, Tata Tech 📝 VST Zetor launches new range of tractors 📝 Sterlite Power names Reshu Madan as CEO of global products, services business 📝 RITES to undertake safety assessment of Vande Bharat trains 📝 Growing online enrolments, rising tuition fee to drive revenue for education sector: Ind-Ra 📝 CarTrade Tech Q4 PAT grows 43% YoY, recorded highest revenue 📝 Hero Realty bags Indian Green Building Council's Gold Rating for green project *Mint* 📝 KKR wins bidding war to acquire medical devices firm Healthium 📝 India Bank Q4 Result: NII up 9.2% at ₹6,015 crore 📝 Gujarat Gas appoints Rajesh Sivadasan as CFO of the company 📝 India’s services sector is still booming, but signs of weakness are visible 📝 Jack Dorsey leaves Bluesky board, calls X ‘Freedom Technology’ 📝 PwC India unveils a suite of GenAI-enabled products for CFOs 📝 Singtel-owned Optus names broadband network boss Stephen Rue as new CEO 📝 Lupin gets US FDA approval for Travoprost Ophthalmic Solution USP 📝 CG Power Q4 PAT down 45%, EBITDA margin stood at 13% 📝 KuCoin Introduces Lifeform in Its 27th Spotlight IEO, Pioneering Decentralized 📝 Bajaj Healthcare appoints Dayashankar Patel as CFO of the company