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Benchmark stock indices closed lower snapping three-day winning streak amid negative global cues due to concerns over surging crude prices and higher inflation. The Sensex fell 0.64% and the Nifty dropped 0.46%.
Broader markets were mixed with the Nifty Midcap 100 falling 0.13% and BSE Smallcap gaining 0.68%.
Top losers in Nifty sectoral indices were Energy [-1.08%], Bank [-0.95%], Financial Services [-0.92%] and Pharma [-0.53%]. Top gainers were Realty [2.01%], Media [1.54%] and Metal [1.31%] and Auto [0.83%].
Indian rupee fell 10 paise to 77.64 against the US dollar on Tuesday.
Brent crude rose to $123.78 per barrel and WTI crude advanced to $118.82 per barrel.
The central government’s fiscal deficit for FY22 stood at 6.7%, according to data released by the Controller General of Accounts. As per the 2022 Budget, the fiscal deficit was revised to Rs 15.91 lakh crore. However, the deficit stood at Rs 15.87 lakh crore, which is Rs 4,552 crore lower than the target.
Stock in News Today
NTPC: The company rose 3.84% after the company informed that Unit-3 of 660 Mega Watt capacity of Nabinagar Power Generating Company has been declared for commercial operation with effect from June 1With this, the commercial capacity of NTPC groups will rise to 69,016.68 Mega Watt.
Aurobindo Pharma: The drug manufacturer reported a 28.1% YoY fall in consolidated net profit to Rs 576.1 crore in Q4FY22. Its revenue from operations fell 3.2% to Rs 5,809.4 crore in Q4FY22 over Q4 FY21. Shares of the company edged up half a percentage point to Rs 530.80 apiece.
HCL Technologies: The IT major has launched a world-class digital engagement platform, X by HCL Technologies (X), which enables brands to improve consumer loyalty and drive conversions through personalized omni-channel marketing.
Coffee Day Enterprises: The company has reported a consolidated net profit of Rs 58.67 crore for the fourth quarter ended March 2022. The company had posted a net loss of Rs 272.09 crore in the January-March quarter a year ago. Its revenue from operation rose 2.81% to Rs 169.81 crore in the quarter under review against Rs 165.16 crore in the year-ago period.
ITC: The company’s wholly owned subsidiary ITC Infotech is eyeing sales of $500 million over the next five years from DxP Services – a unit being created from the acquisition of a portion of US software and services company, PTC’s, product lifecycle management (PLM) business.
J Kumar Infraprojects: The construction company reported a net income for Q4FY22 that was more-than-double that of the corresponding value from Q4FY21. Revenue rose over 12% YoY in the quarter-ended March while Ebitda surged 53%.
Indraprastha Gas: The company has appointed Sanjay Kumar, currently Head (Finance) as Chief Financial Officer with effect from tomorrow, June 1. The incumbent CFO Bimal Ram Nagar shall cease as CFO of the company from tomorrow.
MPS Ltd: Shares of books and atlas publisher rose nearly 7% after the company completed the acquisition of EI Designs through its susbsidiary MPS Interactive Systems for Rs 40 crore, on May 29. The acquisition is expected to add to operational efficiency gains for MPS Interactive.