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Market Analysis 29-04-2021
The market today began with Sensex reclaiming 50,000 and Nifty topping 15,050. As the market moved, Nifty continued to stay above 15000 and ended at 14,894.90. Bank, Steel, and Auto stocks increased while IT stocks made the top drags.
Top Stories of the day:
Bajaj Auto: Two-wheeler and three-wheeler maker Bajaj Auto has reported a 1.7 percent year-on-year (YoY) growth in its standalone profit to Rs 1,332.1 crore for the quarter ended March 2021, impacted by lower other income, but supported by healthy revenue growth.
Hindustan Unilever: HUL Q4 profit spikes 45% to Rs 2,190 crore, revenue jumps 35%; earnings beat estimates. Consolidated revenue from operations climbed 35 percent YoY to Rs 12,433 crore in Q4 FY21, with domestic consumer growth (excluding the impact of merger of GSK Consumer Healthcare and acquisition of ‘VWash’) at 21 percent with underlying volume growth of 16 percent, which was ahead of CNBC-TV18 poll estimates that was pegged it at 14-15 percent.
Tata Communications: Tata Communications share price fell 3 percent intraday on April 29 after the company reported a weak set of numbers for the quarter ended March 2021.
The company reported a 12.5 percent fall in its Q4 net profit at Rs 270.6 crore from Rs 309.4 crore in the previous quarter. Revenue was down 3.5 percent at Rs 4,073.3 crore versus Rs 4,222.8 crore.
IndiaMART InterMESH: The company has indirectly, through its wholly-owned subsidiary, Tradezeal Online, agreed to acquire 26% stake in Shipway Technology on fully converted and diluted basis, and 3.02% stake in Truckhall in addition to 22% stake already held by the company.
Prismx Global Ventures: The company has approved the proposal for acquisition of 51% stake in TMART Platform (TMART). After completing all the formalities / documentation, TMART Platform will become the subsidiary of the company.
Closing bell:
Buying in metal space lent support to the indices to end flat, in the green for fourth straight day. The 30-share index advanced 32 points to close at 49,766 levels while the broader 50-share index concluded the day at 14,889 levels, up 24 points.