Share Market Highlights April 30 2024: Markets wipe out early gains on fag-end sell-off

Equity benchmark indices Sensex and Nifty ended lower on Tuesday as a fag-end sell-off wiped out early gains, with IT and power stocks playing spoilsport amid a mixed trend in global markets.

Read more here.

The rupee recovered 4 paise to 83.41 (provisional) against the US dollar on Monday, tracking foreign capital inflows and a strengthening greenback against major crosses overseal.

Read more here.

Bharat Heavy Electricals Limited entered a partnership agreement with HIMA Middle East FZE for the Railway Signalling Business, aiming to enhance its offerings to Indian Railways. Shares were up by 1.12% to Rs 281.

A total of 3,942 stocks were actively traded, 1,908 advanced, while 1,914 declined and 120 stocks remained unchanged where 262 stocks hit a 52 week high and 22 stocks hit a 52 week low on the BSE.

NSE Nifty was up by 0.09% or 21.17 points to 22,600, while the BSE Sensex was at 74,860.79 up by 0.53% or 392.10 points.

Procter & Gamble Hygiene and Health Care Ltd reported a 13% increase in sales to ₹998 crore for the quarter ending March 31, 2024. The company’s Profit After Tax (PAT) reached ₹154 crore. The shares were up by 3.47% to Rs 4940 on the BSE.

Care Rating Limited incorporated a wholly-owned subsidiary, CareEdge Global IFSC Limited, in GIFT City, Gujarat. The shares were down by 1.02% to Rs 1189 on the BSE.

Spandana Sphoorty Financial Limited allocated 5,000 secured debentures, each valued at Rs 1 lakh, totalling Rs 50.15 crore, through private placement. The shares were up by 0.29% to Rs 879.85 on the BSE.

Jubilant FoodWorks stock surged after the company announced the partial acquisition of compulsory convertible debentures (CCDs) and equity shares in O2 Renewable Energy XVI Pvt Ltd (O2).

The stock traded higher by 6.25 per cent on the NSE at ₹466.50 as of 2.23 pm. 

The e-mobility arm of Greaves Cotton, Greaves Electric Mobility Pvt Ltd (GEMPL), has introduced its electric scooter, Ampere Nexus at an introductory price of ₹10,990.

Greaves Cotton stock surged 5.51 per cent to trade at ₹143.50 as of 1.48 pm.

Natural gas futures (continuous contract) on the Multi Commodity Exchange (MCX) broke out of a key resistance at ₹165 per mmBtu (metric million British thermal units) on Monday. This has turned the short-term outlook positive.

Indus Towers Limited received a penalty of Rs. 1.57 crore from the Deputy Commissioner (Jharkhand) for denial of Input Tax Credit under GST Act 2017. The shares were up by 0.91% to Rs 355 on the BSE.

Shares of Jana Small Finance Bank rallied over 19 per cent after its Q4 financial results. The stock traded at ₹597.05 on the NSE, higher by 19.34 per cent as of 12.44 pm on Tuesday. 

The stock was up 19.94 per cent on the BSE at ₹598.75 as of 12.46 pm.

The Bengaluru-headquartered lender on Monday reported a multi-fold jump in March quarter net profit at ₹321.67 crore. It had reported a net profit of ₹80.99 crore in the year-ago period and ₹134.64 crore in the quarter-ago period.

Mahindra & Mahindra Ltd received a penalty of Rs 95.89 lakh for the financial year 2018-19 from the Assistant/Deputy Commissioner, Begumpet STU-2, Telangana. The company plans to appeal the order and expects no material financial impact. Shares were up by 4.79% to Rs 2160 on the BSE.

Veefin Solutions Limited reported FY2024 results, with revenue 73% to Rs 2,499 lakhs, EBIDTA increasing by 91% to Rs 1,082 lakhs, and Profit After Tax growing by 73% to Rs 739 lakhs. The shares were down by 4.97% to Rs 311 on the BSE.

A total of 3,838 stocks were actively traded, 2,033 advanced, while 1,641 declined and 164 stocks remained unchanged where 234 stocks hit a 52 week high and 21 stocks hit a 52 week low on the NSE.

BSE Sensex rose by 319.31 pts or 0.43 per cent to trade at 74,990.59 as of 12.10 pm, and Nifty 50 was up 105.85 pts or 0.47 per cent at 22,749.25.

Sectoral indices traded in a mix as of 12.13 pm. Nifty metal, PSU bank, IT, media and pharma stocks declined. 

Nifty metal increased 2.40 per cent to trade at 22,608.40; Nifty realty rose 1.70 per cent at 975.70; and the Nifty bank was up 0.27 per cent to trade at 49,557.70. The major gainers of auto stocks were M&M (5.10 per cent higher), Apollo Tyres (3.61 per cent), Ashok Leyland (3.08 per cent), and MRF (2.74 per cent).

Top gainers on NSE at 12.40 pm include- Mahindra and Mahindra (4.84%), Power Grid corporation of India (2.81%), Shriram Finance (2.28%), Hero Motocorp (2.27%), Bajaj Auto (1.88%)

Top losers include- Tech Mahindra (-1.53%), Dr Reddy laboratories (-1.16%), Tata Steel (-0.99%), HCl technologies (-0.80%), Hindalco industries (-0.80%)

Vipul Organics Limited’s shares were up by 6.86% to Rs 188.50 on the BSE. The company participated in the American Coatings Show in the USA, aiming to attract global customers for its Pigment Powders, Pigment Dispersions, and Universal Stainers. The company demonstrated its SunTone brand for Decorative, Architectural, Industrial, and Automobile Coatings.

​Star Health and Allied Insurance Company​ has reported a record profit of Rs 845 crore, up 37%. This is its highest-ever annual profit. Its Gross Written Premium (GWP) grew 18% to Rs 15,254 crore in FY24. 

PAT for Q4FY24 stood at Rs 142 crore, up 40% YoY; GWP increased by 18% YoY to Rs 4,968 crore. The Combined ratio was 96.7% in FY24 and was 92.7% in Q4FY24. The claim ratio was 66.5% for FY24 and 64.1% for Q4 FY24. It maintained its leadership in the retail health insurance sector with a 33% market share. Cashless claims pay-out improved to 87% of total claims in FY24 against 80% in FY23. The Company strengthened its distribution network by adding 16,000 agents in Q4FY24 and 75,000 agents in FY24, taking the overall number of agents servicing customers to 7,01,000.

Trent stock surged to hit a record high at ₹4,670 on the NSE after the company reported a 13-time rise in the consolidated net profit of the March quarter at ₹704.2 crore.

The stock surged 5.09 per cent to trade at ₹4,533.70 on the NSE as of 11.25 am.

Observing the company’s continued stellar performance, most analysts have increased the target price for the stock.

Global brokerage Jefferies increased the target price for the stock to ₹4,150, given a ‘hold’ rating. The brokerage sees merit in following best practices from group firms such as Titan and Tata Consumer Products Ltd (TCPL). 

Companies focused on creating and nurturing their value are bound to achieve premium listings due to their strategic presentation at appealing valuations to unsuspecting investors, providing plenty for them to anticipate and trust in. 

I believe the IPO of JNK India Ltd. stood out because, it not only had the financials to demonstrate its value but also made the strategic decision to set its valuation lower than the benchmarks of its listed competitors. This approach led to a superior valuation that was more appealing for investors to endorse.

Clearly this is a winning formula that I’ve consistently advocated for IPO-bound companies. IPOs represent an ideal opportunity not just for capital raising by leveraging past achievements but more importantly for laying the foundation for future value creation.

Artson Engineering Limited received an order worth a Rs 7.11 crore from Harshini EPC Pvt Ltd for Buffer Vessels. The order is to be executed within 6 months, the shares were up by 4.64% to Rs 190.45 on the BSE.

Aditya Birla Fashion and Retail Limited received NCLT order to convene a meeting for approving the Scheme of Amalgamation with TCNS Clothing Co. Limited and their respective shareholders and creditors. The shares were down by 0.91% to Rs 266.15 on the BSE.

Kings Infra Ventures Ltd partnered with ICAR-CIFT for technology transfer, focusing on ready-to-eat and serve frozen fish products. The agreement includes technical assistance and training for Kings Infra’s personnel. ICAR-CIFT, headquartered in Kochi, Kerala, is known for its research in fisheries and aquaculture, including projects on Chitosan and nano sensors. The shares were up by 0.90% to Rs 174.05 on the BSE.

Greaves Electric Mobility launched Ampere Nexus, electric scooter, with a starting price of Rs 1.10 lakh. The company informed, the scooter is designed, developed, and manufactured in India, includes a hybrid swing arm, aerodynamics, and a 7” TFT touchscreen with SmartSense technology. The shares were up by 3.75% to Rs 141.25 on the BSE

Orient Cement Limited commissioned the 2nd phase of its Waste Heat Recovery System at the Chittapur Integrated Cement Plant, to enhance its power generation capacity to 10.1 MW. The WHRS utilises waste heat from the pyroprocessing system for sustainable energy practices. The shares were down by 0.68% to Rs 218.75 on the BSE.

Magellanic Cloud Ltd.’s shares were up by 5% to Rs 608 on the BSE. The company secured a drone order worth Rs 43 crore from an Indian Robotics firm, marking its entry into the logistics sector. The order includes 45 CargoMax series drone kits and training.

Easy Trip Planners Ltd.’s shares were up by 0.11% to Rs 46.66 on the BSE. The company partnered with World Championship of Legends (WCL), to enhance cricketing experiences. The collaboration aims to elevate fan engagement and global recognition for WCL.

The wholly-owned subsidiary of Granules India has received Abbreviated New Drug Application (ANDA) approval from the US Food & Drug Administration (USFDA) for colchicine capsules, 0.6 mg.

The application was filed by Granules Pharmaceuticals, Inc. (GPI), a subsidiary of the company.

Nifty 50 opened with a gap-up today at 22,680 versus yesterday’s close of 22,643. It advanced after the open and after the initial hour of trade, it is hovering around 22,720, up 0.35 per cent.

The advance/decline ratio stands at 32/17, giving the index a bullish bias. Mahindra & Mahindra, up 3.8 per cent, is the top gainer in the index. Bharti Airtel, down 0.6 per cent, is the top loser.

JNK India Limited, the manufacturer of process heating equipment, defied even optimistic pre-listing forecasts with a spectacular debut on the stock exchanges. The company’s share price soared around 50% above its issue price of Rs. 415, listed at Rs 621 per share. This impressive listing significantly surpassed the anticipated 30% premium predicted by the grey market, underscoring the overwhelming investor confidence in JNK India’s future potential.

While the initial surge might be followed by some volatility, the strong fundamentals and positive outlook suggest long-term potential.

Existing investors may hold their shares with a stop loss at 560 and monitor the performance closely.

Sprayking Limited secured its first sample order for hose nozzles from Flobal Corporation, a Japanese company. The shares were up by 4.05% to Rs 38.50 on the BSE

GMR Airports Infrastructure Limited to acquire 8.40% equity shares of Waisl Limited for Rs 56.66 crore. The shares were down by 0.74% to Rs 86 on the BSE.

Ujjivan Financial Services Limited completes amalgamation with Ujjivan Small Finance Bank as NCLT approves the scheme, effective from April 30, 2024. The shares were down by 0.08% to Rs 566.65 on the BSE.

A total of 2,215 stocks were actively traded, 1,528 advanced, while 590 declined and 97 stocks remained unchanged where 100 stocks hit a 52 week high and 5 stocks hit a 52 week low on Tuesday on the NSE.

Major gainers on the NSE at 9.30 am include- 

Mahindra and Mahindra (3.33%), Eicher motors (2.22%), Maruti (2.14%), HDFC life insurance company (2%), Bajaj Auto (1.97%)

Major losers include- Bharti Airtel (-0.66%), Apollo hospitals (-0.56%), Tech Mahindra (-0.31%), Grasim industries (-0.28%), Adani Enterprises (-0.25%)

Domestic brokerage Prabhudas Lilladher has advised investors to consider long-term SIPs (systematic investment plans) with Aditya Birla Group stocks.

In its latest newsletter, The Beat, the financial advisory firm has highlighted key factors driving sustainable growth in the group’s subsidiaries. The Head of Advisory at Prabhudas Lilladher, Vikram Kasat, compiled the analysis, with data updated until April 25, 2024. It includes each company’s shareholding pattern and market capitalisation values, providing robust reasoning behind their confidence in the conglomerate’s stocks.

Crude oil futures traded marginally lower on Tuesday morning as reports indicated that Israel has offered a peace deal to Hamas. At 9.16 am on Tuesday, July Brent oil futures were at $87.17, down by 0.03 per cent, and June crude oil futures on WTI (West Texas Intermediate) were at $82.59, down by 0.05 per cent. May crude oil futures were trading at ₹6906 on Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday morning against the previous close of ₹6899, up by 0.10 per cent, and June futures were trading at ₹6874 against the previous close of ₹6869, down by 0.07 per cent.

Indian benchmark indices, Sensex and Nifty, opened on a strong note on the last day of April, in line with the global bullish momentum. Analysts anticipate the positive trend to persist at the opening bell. However, with the market set to remain closed on Wednesday (May 1), analysts foresee profit-taking activities dominating the later part of the day. In early trade, the 30-share BSE Sensex rose by 128.44 points to reach 74,799.72, while the NSE Nifty gained 46.35 points, reaching 22,689.75. 

According to Prashanth Tapse, Senior VP (Research), Mehta Equities, optimism due to cooling of US bond yields and letdown in West Asia conflict coupled with a drop in crude oil prices. “With the polling season on, the market is hoping for a clear mandate in favour of the ruling party. The two-day Fed’s monetary policy meeting starting Tuesday will be closely watched by global investors, although markets doesn’t expect any change in the policy outcome,” he added. 

Indian benchmark indices, Sensex and Nifty, opened on a strong note on the last day of April, in line with the global bullish momentum. Analysts anticipate the positive trend to persist at the opening bell. However, with the market set to remain closed on Wednesday (May 1), analysts foresee profit-taking activities dominating the later part of the day. In early trade, the 30-share BSE Sensex rose by 128.44 points to reach 74,799.72, while the NSE Nifty gained 46.35 points, reaching 22,689.75. 

According to Prashanth Tapse, Senior VP (Research), Mehta Equities, optimism due to cooling of US bond yields and letdown in West Asia conflict coupled with a drop in crude oil prices. “With the polling season on, the market is hoping for a clear mandate in favour of the ruling party. The two-day Fed’s monetary policy meeting starting Tuesday will be closely watched by global investors, although markets doesn’t expect any change in the policy outcome,” he added.

Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services Ltd, said: “We expect Nifty to continue its positive trend, on the back of a healthy earning season and macro data. Investors will watch out for European consumer Confidence data & China Manufacturing & Non-Manufacturing data on the economic front.”

Equities across Asia-Pacific region are up in the region of 0.3-2.5 per cent.

Mandar Bhojane, Research Analyst, Choice Broking, said: Looking ahead to May, historical data indicates that Nifty has closed positively in 7 out of 10 instances in the past decade, with an average return of 2.3 per cent.

“Current technical and derivative analyses support the idea of Nifty reaching all-time highs of 23,000 and potentially 23,500 in the upcoming month. The Relative Strength Index hovering around 60 suggests strong momentum in the index. Moreover, the price is finding support from the 20-day Exponential Moving Average (EMA) and is trading above all key EMAs, indicating bullish sentiment,” he added.

He said that analysis of Nifty Put options reveals a concentration of Open Interest (OI) at the 22,500 level, suggesting potential support during the ongoing expiry. Conversely, significant OI concentrations on the Call side are observed at the 23,000 level.

The yen held its line against the dollar on Tuesday after making sharp gains the previous day in moves that traders said were sparked by suspected intervention by Japanese authorities. The Japanese currency was trading a touch lower 0.16% at 156.56 per dollar, but was well off its 34-year low of 160.245 hit on Monday when traders say yen-buying intervention by Tokyo drove a sizeable rebound of nearly six yen.

Japanese authorities haven’t confirmed that they had stepped into the currency market in support of the yen, but markets remain on heightened intervention alert ahead of the Federal Reserve’s monetary policy review this week.

Domestic markets are expected to open positively on the last day of April as global stocks maintain bullish momentum. Analysts expect the trend to continue at the open. With the market closed on Wednesday (May 1), analysts expect profit taking in the later part of the day. 

According to Prashanth Tapse, Senior VP (Research), Mehta Equities, optimism due to cooling of US bond yields and letdown in West Asia conflict coupled with a drop in crude oil prices. “With the polling season on, the market is hoping for a clear mandate in favour of the ruling party. The two-day Fed’s monetary policy meeting starting Tuesday will be closely watched by global investors, although markets doesn’t expect any change in the policy outcome,” he added. 

Gold prices remained stable as market investors anticipated the US Federal Reserve’s policy decision and non-farm payrolls data coming later this week for interest rate indications. Markets are concentrating on the Fed’s two-day policy meeting, which begins later today, as well as the non-farm payrolls data, which is expected on Friday. The Fed is expected to leave its benchmark interest rate constant at 5.25% to 5.5% throughout the meeting. Inflation shows no recent signs of slowing or decreasing in scope, leaving Fed members perplexed this week about how to define their next actions. A hotter-than-expected consumer price inflation data for March caused traders to lower expectations for Fed rate decreases.

Key economic data slated for release includes Core CPI Flash Estimate y/y, CPI Flash Estimate y/y from Euro Zone and Employment Cost Index q/q, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence from US Zone.

9:00 AM Satin Creditcare Network

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(Results, Press Release )

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*Analyst Meet:*Jio World Convention Centre Meeting Suite No. 205 A & B, Level 02, G-BLOCK, Bandra Kurla Complex, Bandra (EAST), Mumbai 400098

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Indian Oil, REC Ltd., Havells, Indus Towers, REC , Cholamandalam Investment and Finance, Indus Towers, Procter & Gamble Hygiene & Health Care Ltd., Sona BLW, Star Health, Exide Industries, Vedant Fashions, Five-Star Business Finance, Castrol, IndiaMART InterMESH, Nuvoco Vistas, Newgen Software, Gravita India, Symphony, Neogen Chemicals, Adani Total Gas, Central Bank Of India, and IFCI

SELL, TP Rs 1050 

Continues to outperform peers 

FY2025E outlook implies strong revenue growth, while EBITDA margin guidance of 20.5%+ includes 170 bps impact from new ESOP scheme 

Believe headwinds are likely to emerge

Buy, TP Rs 1900 

4Q beat 

1st time guidance for FY25 is for +18% to +22% rev growth 

Co plans to invest 1.7% of GSe FY25 topline in a fresh ESOP program 

Adjusted for this investment, EBITDA margin for FY25 could have been as high as 22.2%+ vs guided range of 20.5%+

Sell, TP Rs 650 

Operational beat; competition-led pressure on profitability continues 

Management guided to grow retail loan growth at 17% yoy in FY25 with c40% of incremental disbursements from Emerging & Affordable housing 

Expect ROA to moderate to c1.8% in FY26

Overweight Call, Target Rs 1,000 

PAT Missed Estimate By 1% 

NIM Was Largely In-line With Est, At 3.85% 

Credit Costs Were Below Est, But Coverage Strengthened As Gross NPA Declined QoQ 

Disbursements Up 23% QoQ Were Lower Than Guidance Of Rs2,500 Cr 

Outlook On Loan Growth Will Be Key Discussion Point

Hold Call, Target Raised to Rs 4,150 

Another Strong Qtr Led By LFL Growth & Store Adds 

Confidence Seems High, Reflected In The Proposed 3Y Incentive Scheme 

Proposed (Cash) 3Y Incentive Scheme Based On Various Parameters, Incl Share Price 

Weak disclosures leave a lot to imagination 

With >$18 Bn Market Cap, Co Likely To Become More Mainstream Than In The Past 

See Merit In Following Best Practices From Group Firms Like Titan And TCPL

Equal-Weight Call, Target At Rs 3,675 

Q4 Beat On The Topline And Margin 

Management Says, Will Continue To Expand & Deepen Store Presence 

Mgmt Says, Fashion Biz Saw Well Over 10% YoY LFL Growth, Up 10% Both In Q3 & Q2 

Operating EBIT Margin For Fashion Biz Improved To 8.2% YoY 

Gross Margin For Both Formats Were Consistent With Prior Trends 

Grocery Format Saw Continued Improvement In Customer Traction & Sales Densities

Overweight Call, Target Raised To Rs 1,025 

PAT Beat Est By 18% Led By Stronger Disbursement Linked Fee Income, Lower Credit Costs 

Mgmt Cited That Focus Will Be To Have Good Balance Of Loan Growth Pick Up & Profitability 

Mgmt Cited That Focus Will Be On Improvement Via Focus On Granular Loans

Buy Call, Target Rs 860 

Q4 Revenue & Margins Below Estimate 

Discretionary Slowdown And Weak Order Book Could Limit Near-term Growth 

Margin Expansion Continues Under New Unified Organizational Structure 

Revise FY25-26F EPS By 4-9%

Sell, TP Rs 770 

Despite collapse in earnings, stk has held up surprisingly well, perhaps on hopes of an IPO of Tata Sons—which, however, does not seem to be happening 

Any hopes around a large expansion into battery chemicals seem misplaced as well

ARC Risk Group, the parent company of ARC Ratings and ARC Analytics, has appointed three Advisory Board Members.

ARC Risk Group has appointed Andrea Blackman, Kofi Owusu Bempah and Eric Kump to complement its governance team. Advisory Board Members provide strategic advice, offer expertise, industry insights, and perspectives to support informed decision-making. They are an important part of the company’s growth and success and serve as ambassadors for the company, promoting its mission, vision, and values within relevant networks

Symbol: JNKINDIA 

Series: Equity “B Group” 

BSE Code: 544167 

ISIN: INE0OAF01028 

Face Value: Rs 2/- 

Issued Price: Rs 415/- per share

Symbol: JNKINDIA 

Series: Equity “B Group” 

BSE Code: 544167 

ISIN: INE0OAF01028 

Face Value: Rs 2/- 

Issued Price: Rs 415/- per share

Bhagiradha Chemicals & Industries Ltd.

Stock Split Rs.10/- to Rs.1/-

Previous day Closing Price – Rs. 1950.45

Ex - Stock Split 02 May 2024 (Thursday)

Last day trade for before split Today

Nidhi Granites Ltd.

Bonus issue 1:1

Previous day Closing Price – Rs. 281.1

Ex Bonus 02 May 2024 (Thursday)

Last date Trade for Before Bonus Today

360 One Wam Ltd

Dividend Per Share Rs.3.5

Previous day Closing Price – Rs. 789.4

Ex-Dividend 02 May 2024 (Thursday)

Last date for Cum-Dividend Toda

L&T Technology Services (LTTS) is the second ER&D company after PSYS to do a growth margin tradeoff in order to drive MT to LT growth by making investments currently where demand has moved sideways in order to be ready to tap opportunities when the cycle turns. 

Investments will be in building solutions for digital manufacturing, software defined vehicles and GenAI and will impact gross margins by ~100bps, taking down FY25 margins target to 16 per cent (from 17 per cent in FY24). Growth margin trade-offs often exist in IT Services and often get decided in favour of growth. 

Maruti Suzuki’s Q4-FY24 print was in-line with our estimates. Revenue/EBITDA/PAT grew 19.3/39.8/47.8 per cent y-o-y. Overall volumes grew 13.4 per cent backed by 12.2/21.7 per cent growth in domestic and international business. Strong demand trend and customer skewness towards SUV/CNG led to highest ever quarterly sales volume/exports in Q4. 

Buzzing Stocks: Kilburn Engineering, Protean eGov, Patanjali Foods, Bharti Airtel, Tata Chemicals, Coromandel International, Subex 

Simplex Castings, leading castings and engineering solutions manufacturer, has been selected as the preferred manufacturing partner for TsNIIchermet (Russia).

Simplex Castings will be responsible for manufacturing of equipment designed and developed by TsNIIchermet. The initial order is worth ₹2 crore. 

* BIOCON

* VODAFONE IDEA

📌 Market Levels

BSE Sensex: 74668.04 (+937.88)

Nifty 50: 22643.40 (+223.45)

NIFTY MID CAP 100: 50834.45 (+210.35)

NIFTY SMALL CAP 100: 17017.85 (+36.55)

📌 Index PE & PBV

SENSEX PE / PBV : 23.96 / 3.64

NIFTY 50 PE / PBV : 

22.20 / 3.97

NIFTY MIDCAP 100 PE / PBV : 34.61 / 4.46

NIFTY SMALLCAP 100 PE / PBV : 28.16 / 4.07

📌 Inflow/Outflow (Daily/MTD) 

FII / FPI Activity: 169.09 crs / (36763.92 Crs)

DII Activity: 692.05 crs / 42757.17 crs

📌 Volatility Index

India VIX - 12.23

📌 Commodities

Brent Crude: $88.84

Gold USD Oz/10 gm: $2335.33 = INR 71432

Silver: INR 80551

📌 Currency

Rs/$: 83.47

US Dollar Index (DXY) - 105.81

📌 10 Year Yield

7.18% GOI 2033: 7.20% (New)

US 10 Yr Yield - 4.63%

Apollo Hospital: Sunita Reddy, JMD

Apollo HealthCo-Keimed Merger Will Further Strengthen Balancesheet Of Apollo 24/7: Apollo Hospitals

Bank of Mah: Nidhu Saxena, MD&CEO

Bank Of Maharashtra: Capex Utilisation And Expansion Plans, NIM’s Momentum To Sustain

CSB Bank: Pralay Mondal, MD & CEO

Expect 1 Account That Became An NPA In Q4 To Turn Standard In FY25: CSB Bank

HCL Tech: C Vijayakumar, CEO

Expect Discretionary Run-off To Continue In FY25, Full -Year Growth Guidance Pegged At 3-5%: HCLTech

IndusInd Bank: Sumant Kathpalia, MD&CEO

IndusInd Bank: Cross Selling Strong For Digital Accounts, Waiting For RBI Approval For IIHL

IDFC First Bank: V Vaidyanathan, MD&CEO

Cost To Income Ratio Will Drop To 60s From Current 72% By Q4FY25: IDFC First Bank

IREDA: Pradip Kumar Das, CMD

Have Booked Maximum Addition In Renewables Space: IREDA

IREDA: Pradip Kumar Das, CMD

IREDA Q4: Profits, NII Rise YoY I CMD Pradeep Kumar Das Discuss

L and T Finance Hol: Sudipta Roy, Managing Director and CEO

L&T Finance: Highest Dividend In Q4 FY24

MM Forgings: Vidyashankar Krishnan, MD

MM Forgings: EV Run a boost to growth projects

Results today…

Replays available at www.researchbytes.com

Financial Results

Presentation

Press Release

Financial Results

Press Release

Presentation

Closing Bell:

* Sensex: 74668.04(+937.88)

* Nifty 50: 22643.40(+223.45)

* Nifty bank: 49424.05 (+1,223.00)

Nifty top 5 Gainers:

* ICICI bank: 1,160.15(+52.25)

* SBI: 826.50(+25.20)

* IndusInd Bank: 1,487.25 (+40.85)

* UltraTechCement: 9,964.45 (+263.55)

* Axis Bank: 1,159.25 (+28.95)

Nifty top 5 losers:

* HCL tech: 1,387.40(-86.45 )

* Apollo Hospital: 5,968.35 (-290.25)

* Bajaj Auto: 8,760.10(-214.20)

* HDFC Life: 575.10 (-12.75 )

* LTIMindtree: 4,743.95 (-44.10)

Eli Lilly and Company (Pre market) (Sector- Healthcare)

Coca-Cola Company (The) (Pre market) (Sector- FMCG)

McDonald’s Corporation (Pre market) (Sector- Hotels)

Eaton Corporation, PLC (Pre market) (Sector- Capital goods)

American Tower Corporation (REIT) (Pre market) (Sector- Real Estate)

Stellantis N.V. (Pre market) (Sector- Automobile)

Illinois Tool Works Inc. (Pre market) (Sector- Manufacturing)

Marathon Petroleum Corporation (Pre market) (Sector- Energy)

PayPal Holdings, Inc. (Pre market) (Sector- Technology)

Trane Technologies plc (Pre market) (Sector- Technology)

Ecolab Inc. (Pre market) (Sector- Chemicals)

PACCAR Inc. (Pre market) (Sector- Capital goods)

Air Products and Chemicals, Inc. (Pre market) (Sector- Chemicals)

3M Company (Pre market) (Sector- Technology)

American Electric Power Company, Inc. (Pre market) (Sector- Energy)

MPLX LP (Pre market) (Sector- Energy)

GE HealthCare Technologies Inc. (Pre market) (Sector- Technology)

Sysco Corporation (Pre market) (Sector- FMCG)

Martin Marietta Materials, Inc. (Pre market) (Sector- Real Estate)

Archer-Daniels-Midland Company (Pre market) (Sector- FMCG)

Corning Incorporated (Pre market) (Sector- Technology)

Restaurant Brands International Inc. (Pre market) (Sector- Hotels)

Hubbell Inc (Pre market) (Sector- Capital goods)

Cameco Corporation (Pre market) (Sector- Energy)

Banco Santander Brasil SA (Pre market) (Sector- Financial)

CenterPoint Energy, Inc. (Pre market) (Sector- Energy)

Leidos Holdings, Inc. (Pre market) (Sector- Technology)

Zebra Technologies Corporation (Pre market) (Sector- Technology)

Molson Coors Beverage Company (Pre market) (Sector- FMCG)

Sirius XM Holdings Inc. (Pre market) (Sector- Media)

Incyte Corporation (Pre market) (Sector- Healthcare)

Penske Automotive Group, Inc. (Pre market) (Sector- Automobile)

Amazon.com, Inc. (Post market) (Sector- Retail)

Advanced Micro Devices, Inc. (Post market) (Sector- Technology)

Stryker Corporation (Post market) (Sector- Healthcare)

Starbucks Corporation (Post market) (Sector- Hotels)

Mondelez International, Inc. (Post market) (Sector- FMCG)

Republic Services, Inc. (Post market) (Sector- Miscellaneous)

ONEOK, Inc. (Post market) (Sector- Energy)

Public Storage (Post market) (Sector- Real Estate)

Super Micro Computer, Inc. (Post market) (Sector- Technology)

Prudential Financial, Inc. (Post market) (Sector- Financial)

Diamondback Energy, Inc. (Post market) (Sector- Energy)

Extra Space Storage Inc (Post market) (Sector- Real Estate)

Edison International (Post market) (Sector- Energy)

Invitation Homes Inc. (Post market) (Sector- Real Estate)

LPL Financial Holdings Inc. (Post market) (Sector- Financial)

Clorox Company (The) (Post market) (Sector- FMCG)

Skyworks Solutions, Inc. (Post market) (Sector- Technology)

Essex Property Trust, Inc. (Post market) (Sector- Real Estate)

Amcor plc (Post market) (Sector- Packaging)

UDR, Inc. (Post market) (Sector- Real Estate)

Equitable Holdings, Inc. (Post market) (Sector- Financial)

W. P. Carey Inc. (Post market) (Sector- Real Estate)

Chesapeake Energy Corporation (Post market) (Sector- Energy)

RenaissanceRe Holdings Ltd. (Post market) (Sector- Financial)

Banco Santander, S.A. (Tent) (Sector- Financial)

China, India, Japan, Hong Kong, South Korea, Europe and Taiwan @ Market Holiday

TENT India April Month Auto Sales

17:45 U.S. ADP Non-Farm Employment Change (Expected: 179K versus Previous: 184K)

19:30 U.S. ISM Manufacturing PMI (Expected: 50K versus Previous: 50.3) 

19:30 U.S. JOLTS Job Openings (Expected: 8.68M versus Previous: 8.76M)

23:30 U.S. Federal Monetary Policy (Expected: 5.50% versus Previous: 5.50%) 

00:00 U.S. FOMC Press Conference

07:00 CHINA Manufacturing PMI (Expected: 50.3 versus Previous: 50.8)

14:30 EURO CPI flash Estimate y/y (Expected: 2.4% versus Previous: 2.4%)

17:30 INDIA Infrastructure Output y/y (Expected: 7.9% versus Previous: 6.7%)

18:00 U.S. Employment Cost Index q/q (Expected: 1.0% versus Previous: 0.9%)

19:30 U.S. CB Consumer Confidence (Expected: 104.0 versus Previous: 104.7)

Cipla’s stock is in a long-term uptrend. But it experienced a sell-off this month after finding resistance at ₹1,500 and lost about 6 per cent. However, the stock found a support at ₹1,340 where a rising trendline coincides. This is a good base against which the price recovered in the past few sessions.