Get App
POST-MARKET REPORT
The Indian market squandered most of the day’s gains in last-hour selling on April 23 and closed with modest gains to end higher for a third session in a row.
At close, the Sensex was up 89.83 points, or 0.12 percent, at 73,738.45, and the Nifty was up 31.60 points, or 0.14 percent, at 22,368.
Grasim Industries, Bharti Airtel, Nestle India, Maruti Suzuki, and HCL Technologies were among the major Nifty gainers, while losers included Sun Pharma, BPCL, Reliance Industries, M&M and Hindalco Industries.
Among sectors, healthcare, metal, oil & gas, and energy were down 0.3-0.8 percent, while FMCG, power, IT, realty, and auto were up 0.4-2 percent.
Considering broader markets, the BSE midcap index rose 0.5 percent and the smallcap index gained a percent.
STOCKS TODAY
Gujarat State Petronet Ltd: Shares of Gujarat State Petronet Ltd (GSPL) failed to hold on to early gains and came sharply off their highs in afternoon trade on April 23, extending losses for the second straight session as a tariff cut prompted a series of downgrades. The stock took a beating in the previous session, falling 20 percent after the Petroleum and Natural Gas Regulatory Board (PNGRB) slashed tariffs for the company’s high-pressure (HP) network by 47 percent.
PSP Projects: Shares of PSP Projects gained more than a percent after the company launched a qualified institutions placement (QIP) offer to raise Rs 244 crore. The company has fixed a floor price of Rs 682.59 a share, though it may offer a discount of up to 5 percent to investors. The indicative issue price for the QIP is Rs 670.
Tejas Networks: The Tejas Network stock jumped 20 percent and got locked in the upper circuit after the company reported strong Q4 earnings. The company’s consolidated net profit came in at Rs 146.78 against a loss of Rs 11.47 crore a year ago.
Vodafone Idea: Shares of Vodafone Idea rallied over 11 percent after the company’s follow-on public offer (FPO) concluded with a 6.36 times subscription. Investors sent in bids for 8,011.8 crore equity shares while the country’s third-largest telecom operator had offered 1,260 crore shares in the Rs 18,000-crore FPO.
Inox Wind: Shares of Inox Wind jumped over a percent after the green energy firm said its board would take up a proposal to issue bonus shares. The company’s board will meet on April 25 to consider and approve a proposal for issuing bonus equity shares, the company said.
Hatsun Agro: The Hatsun Agro stock advanced over 8 percent after the Chennai-based company’s net profit doubled on the year to Rs 52 crore in the January-March quarter. The strong bottom line was fuelled by healthy sales, retail expansion, increased procurement of milk, and a solid margin expansion.
KP Energy: Shares of KP Energy rose 5 percent to hit the upper circuit after the company received a wind power project. The company will develop a 9MW wind power project, a part of the wind-solar hybrid power project in Gujarat.
Bajaj Finance: Shares of Bajaj Finance declined after global brokerage firm UBS shared a “sell” call on the company, saying the listing of its housing finance arm would not add any considerable value. UBS analysts shared a target price of Rs 6,800, implying a 6 percent downside from the current level.