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POST-MARKET REPORT
The Indian equity indices extended gains on April 22 following positive global cues as worries over Iran-Israel tensions eased a bit.
At close, the Sensex was up 560.29 points, or 0.77 percent, at 73,648.62, and the Nifty was up 189.40 points, or 0.86 percent, at 22,336.40.
Top Nifty gainers included BPCL, Tata Consumer Products, Eicher Motors, L&T, and Shriram Finance, while losers were NTPC, HDFC Bank, JSW Steel, IndusInd Bank and Tata Steel.
All sectoral indices ended in the green. Auto, PSU bank, capital goods, oil & gas, FMCG, healthcare, and realty indices gained up to 3 percent.
Considering broader market indices, BSE midcap and smallcap indices each closed a percent higher.
The rupee rises by 7 paise to close at 83.37 against the US dollar on Monday on positive domestic markets and a soft American currency.
STOCKS TODAY
HDFC Bank: HDFC Bank reported flattish sequential net profit growth to Rs 16,611 crore in Q4FY24 due to the rise in provisions, while transaction sales from the HDFC Credila stake sale helped accrue net revenue to Rs 47,240 crore. Further, the bank’s core net interest margin (NIMs) improved by 4 basis points (bps) QoQ to 3.44 percent in Q4FY24 from 3.40 percent in Q3FY24 amid stability in its cost of funds.
Persistent Systems: Shares of Persistent Systems (PSYS) tumbled more than 9 percent on April 22, a day after the IT services company’s reported fourth-quarter earnings. A flat margin guidance for FY25 disappointed the street. Persistent Systems also recommended a dividend of Rs 10 a share.
NTPC: NTPC Green Energy Limited (NGEL) and Indus Towers Limited (ITL) on April 18 signed an MoU to address the need for pacing green energy objectives and the GOI’s efforts towards a carbon-neutral economy, the company said. NTPC Green Energy Limited (NGEL) is a wholly owned subsidiary of NTPC.
Welspun Corp: Welspun Corp shares gained almost five percent in the afternoon session on April 22 after the firm won orders worth Rs 872 crore. In a filing with the exchanges, Welspun Corp said since its last disclosure on March 22, the company has won multiple line pipe orders, both in India and the USA.
Zydus Lifesciences: Shares of Zydus Lifesciences rose high on April 22 after the pharma company launched the generic version of bladder control drug Mirabegron in the US. The company is among the first to launch the generic version in 25 mg dosages in the US market and is prepared to launch 50mg dosages imminently, it said.
Honasa Consumer Limited: Shares of Honasa Consumer Limited surged on April 22 afternoon after its skincare unit Derma Co achieved an annual revenue rate of Rs 500 crore. The Derma Co had earlier crossed the Annual Revenue Rate (ARR) of Rs 350 crore in September 2023 and had also achieved an EBITDA positive status during the December quarter.