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Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd:

“It was expected from the wires and cables businesses that revenue could be pretty strong. And more importantly, the margins because of the price hikes that they have taken, that should have led to a better than expected numbers. So in terms of Havells, we were expecting the net profit growth of about 13% on a sequential basis at about ₹377 crores. So I think net profit is better than our expectation, much better. And that is largely because of the higher margin. Our expectation for the overall business growth for Havells, especially the wires and cables business, I think that is pretty strong. We had estimated revenue to growth about 11%. And overall profitability, especially if you look at the businesses growth from the cables and wires, that was expected to lead the growth from the front end at about 18%. So more or less, I think a good set of numbers from Havells.”

New Biz Premium at ₹11,220 crore vs CNBC-TV18 Poll of ₹10,680 crore

Total APE at ₹5,750 crore vs CNBC-TV18 Poll of ₹5,896 crore

VNB at ₹1,630 crore vs CNBC-TV18 Poll of ₹1,669 crore

VNB Margin at 28.4% vs CNBC-TV18 Poll of 28.41%

New Biz Premium up 20.4% at ₹11,220 crore vs ₹9,320 crore (YoY)

Total APE up 5.5% at ₹5,750 crore vs ₹5,450 crore (YoY)

VNB down 1.8% at ₹1,630 crore vs ₹1,660 crore (YoY)

VNB Margin at 28.4% vs 30.50% (YoY)

Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd:

“In IT sector, if you look at multiple numbers they are in all directions. First of all HCL Tech, very weak numbers. What was disappointing is that the outlook for FY27 that remains pretty much weak. What we are seeing is that telecom spending has been one of the big concern areas for the previous few quarters and even this quarter, we saw the telecom spending that has been cut and the AI led deflation risk that is becoming more imminent, at least in the near term.”

“So the first half of FY27, that looks like a big impact and whatever currency benefits that the company has taken, that is not reflected in the margins, either it is being reinvested either for AI related businesses or for driving business sales. So the only thing that remains positive for HCL Tech is that the deal pipeline continues to remain pretty strong and that indicates that there could be conversion delays and hence later part of FY27 could see some improvement in business. Nonetheless, given that weak guidance and the softer first half, I think the near term definitely remains weak for HCL Tech.”

“Persistent more or less in line with numbers, so was I think Tech Mahindra numbers in line, but the broader view that comes out clearly is that the near term uncertainty, specifically if you look at some of the key sectors that has remained under pressure, like the likes of telecom, the US government shutdown that has also led to some of the deals not converting into business or revenue, that would be the case for bulk of the large IT companies. And if you look at Persistent Systems, which is in the midsize, while there is a growth, we are seeing that this growth has seen a deceleration.”

“This is the fifth straight quarter of deceleration in the revenue growth and that is again the premium valuation that these companies used to have Persistent, Coforge that was largely because of the high growth that they were able to manage to report quarter after quarter.”

“So more or less in the near term, I think it’s an underweight view on IT. Selectively, I think as and when results for Infosys comes out, TCS was marginally decent numbers selectively one can look at, but more or less remain a bit negative on IT in the near term.”

Zerodha Says

Took A Call To Wind Zero1 Down As There Was Lot Of Regulatory Uncertainty

We Will Now Run & Own All The Channels In-house

The Zero1 Network Was One Of The Initiatives Of Our New Age Education Venture, Zero1

Results post market

Nifty 50 is down about 200 points.

Here are the stocks dragging the index:

Nuvama

Downgrades Jindal Steel to REDUCE vs BUY earlier

Revised Target Price of ₹1,154 vs earlier: ₹1,293

Havells Says

Delayed Summer Onset With Unseasonal Showers Impacted ECD Revenue

Lloyd Revenues Moderated Largely Due To A Strong Base In The Corresponding Period Last Year

Margins Held Well, Except Lloyd Which Was Impacted Due To Lower Revenues

The shares of Polycab jumped from lows after Havells reported strong results.

KEI Industries shares latched onto the positive results of Havells.

Kajaria Ceramics To Consider Dividend & Buyback Proposal On April 30

The shares of Havells surged over 3% after the company announced its results, showcasing strong numbers.

Vs CNBC-TV18 Poll Of ₹495 Cr

Vs CNBC-TV18 Poll Of ₹6,971 Cr

Vs CNBC-TV18 Poll Of `691 Cr

Vs CNBC-TV18 Poll Of 9.9%

At ₹734 Cr Vs ₹522 Cr (YoY)

At ₹6,687 Cr Vs ₹6,532 Cr (YoY)

EBITDA (RD)4.5%

At ₹727 Cr Vs ₹761 Cr (YoY)

Margin At 10.8% Vs 11.70% (YoY)

Citing regulatory ambiguity surrounding the program, Zerodha has opted to shut down its Zero1 network and move all content creation in-house, according to the business.

Premier Explosives’ stock surged following the company’s acquisition of ₹350.23 crore in export military orders from a foreign client, which will be carried out over two years without the involvement of any associated parties.

According to Manish Sabharwal, Vice Chairman at TeamLease Services, Roshan Kishore, Data and Political Economy Editor at Hindustan Times, and Amit Basole, Economics Professor at Azim Premji University, India’s wage problem is more about incomes than jobs.

Brent Crude has returned to $100 mark amid rising uncertainty over the status of the Strait of Hormuz

In reaction to Tech Mahindra Ltd.’s March quarter results, which were in line with or slightly higher than forecasts across the majority of metrics, shares of the company quickly rebounded from the day’s lows on Wednesday, April 22.

As Tech Mahindra announced its results, the markets looked to make another attempt at recovery.

The shares of Tech Mahindra recovered over 6% from the lows of the day after the company announced its results.

Vs CNBC-TV18 Poll Of ₹1,504 Cr

Vs CNBC-TV18 Poll Of ₹14,804 Cr

Vs CNBC-TV18 Poll Of $1,624 m

Vs CNBC-TV18 Poll Of `2,035 Cr

Vs CNBC-TV18 Poll Of 13.70%

New Deal Wins TCV $1,073 m, Up 34.5% YoY & Down 2.1% QoQ

Net Profit (GU)21%

At ₹1,358.8 Cr Vs ₹1,122 Cr (QoQ)

` Revenue (GU)4.7%

At `15,076 Cr Vs `14,393 Cr (QoQ)

$ Revenue (GU)0.93%

At $1,625 m Vs $1,610 m (QoQ)

EBIT (GU)10.2%

At `2,084 Cr Vs `1,891.6 Cr (QoQ)

Margin At 13.8% Vs 13.10% (QoQ)

HCLTech | Launches Gemini Enterprise Biz Unit To Accelerate Agentic AI Adoption

Global trade is structured so that US importers bear most of the tariff burden, not Indian suppliers or manufacturers. As a result, any refunds are likely to flow back to retailers and brands in the US, said Pallab Banerjee, MD & Group President at Pearl Global Industries.

On Wednesday, April 22, shares of battery manufacturing firms Amara Raja Batteries Ltd. and Exide Industries Ltd. saw their largest single-day rise in over two years, rising as high as 14%.

It’s possible that FMCG stocks are gradually emerging from a protracted period of dullness, and CLSA is becoming picky in the market. Following a solid March quarter performance, the brokerage’s top selections for food and beverage firms include Nestle India, Tata Consumer, and Varun Beverages.

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