Post Market Analysis: Major stock indices slip in volatile session; RIL, Tata Consumer, Sun Pharma and Jubilant Ingrevia in news

Benchmark stock indices pared gains to close lower, dragged by losses in Realty and PSU Bank stocks. The Sensex slipped 0.20% and the Nifty fell 0.12%.

Top losers in Nifty sectoral indices were Realty [-1.75%], PSU Bank [-1.57%], Energy [-0.79%], IT [-0.47%] and Bank [0.40%]. Top gainers were FMCG [1.25%] and Pharma [1.06%].

Indian rupee was nearly flat at 77.58 against the US dollar on Wednesday.

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Reliance Industries Ltd (RIL): The conglomerate plans to submit a bid for Boots UK, a British medical retail chain, by month-end, Business Standard reported. The transaction is likely to cost as much as $10 billion.

Tata Consumer Products: The food and beverage arm of Tata Group wants to go on an acquisition spree to bolster its position in the country’s competitive consumer goods sector, and is in discussions to buy up to five brands, Bloomberg reported.

Sun Pharmaceutical Industries: The drugmaker has announced the launch of Bempedoic Acid, its first-in-class oral drug to reduce low-density lipoprotein cholesterol in India. The drug will be sold under the brand name “Brillo”. The drug is indicated for people who have inherited genetic disorder that causes high cholesterol levels or established heart disease where cholesterol remains high.

Jubilant Ingrevia: The company reported 28% decrease in consolidated net profit of Rs 69 crore in Q4FY22 compared with net profit of Rs 95 crore in Q4FY21. Its total revenue from operations stood at Rs 1,296 crore in Q4FY22, a growth of 20% from Rs 1,078 crore in Q4 FY21. The revenue growth was driven by growth in Speciality Chemicals and Chemical intermediate product segments.

PI Industries Limited: Shares of the company closed 4.3% higher after it posted strong results. The company has reported total income of Rs 1,415.2 crore during Q4FY22 compared to Rs.1241.3 crores during the same period last fiscal. The company has posted net profit of Rs.204.4 crores for the reported period as against net profit of Rs.179.8 crore in the year-ago period.

Minda Corp: The company has reported consolidated net Sales of Rs 947.76 crore in Jan-Mar 2022 quarter, up 19.35% from Rs. 794.09 crore in the year-ago period. Its net profit zoomed multifold to Rs 75.86 crore in the reported quarter, from Rs 12.92 crore in the year-ago period. The company’s board has recommended a final dividend of Rs 0.7 per share.

Teamlease Services: The staffing company posted a 63% YoY rise in consolidated net income at Rs 30.86 crore in Q4FY22 from Rs 18.91 crore in the same period last fiscal. Revenue rose 36% to Rs 1,817.41 crore in the reported quarter compared with Rs 1,340.53 crore in the year-ago period. EBITDA jumped 58% YoY to Rs 41.03 crore as against Rs 26.11 crore in the year-ago period.

EID Parry (India): The company reported a higher consolidated net profit of Rs 302.52 crore in Q4FY22 as compared to a consolidated net loss Rs 1.62 crore in Q4FY21. Net sales stood at Rs 5,667.34 crore for the quarter ended March 2022 as against Rs 3,876.68 crore during the same period in the previous fiscal.

Rane Brake Lining : The auto ancillary company’s net profit declined 8.54% to Rs 13.07 crore in the quarter ended March 2022 as against Rs 14.29 crore during the same quarter last fiscal. Sales rose 3.17% to Rs 153.37 crore in the quarter under review as against Rs 148.66 crore during the corresponding quarter of FY21.

Aurionpro Solutions: The company’s net profit stood at Rs 18.97 crore for the quarter ended March 2022 as against a net loss of Rs 141.88 crore during the previous quarter of last fiscal. Sales rose 24.78% to Rs 137.47 crore in the quarter ended March 2022 as against Rs 110.17 crore during the corresponding quarter of FY21.

Thomas Cook (India): The travel company has identified strong pent-up demand for outdoor and adventure travel, have curated a distinctive portfolio, India Trekking Tours – timed perfectly with the onset of the Country’s trekking season.

Bajaj Healthcare: The company’s net profit declined 17.90% to Rs 17.47 crore in the quarter ended March 2022 as against Rs 21.28 crore during the year-ago period. Sales rose 32.93% to Rs 175.71 crore in the quarter under review as against Rs 132.18 crore in the corresponding period last fiscal.

Ruchi Soya Industries: The food company has announced the acquisition of the entire food business of Patanjali Ayurved for Rs 690 crore to accelerate its transition to a leading FMCG company. The acquired food business consists of 21 products, including ghee, honey, spices, juices and atta, among other things.

Aurobindo Pharma: The drugmaker has said that the U.S. FDA has concluded its assessment at Unit – 5, one of the Aurobindo’s facilities, with ‘no remaining deficiencies’. The U.S. drug regulator conducted its inspection at the plant between Feb. 8 and Feb. 22. The U.S. FDA had issued Form 483 with five observations following the inspection.

Nucleus Software Exports: The company’s consolidated net profit surged 112.2% to Rs 18.72 crore in Q4FY22 from Rs 8.82 crore in Q3FY22. Revenue from operations increased by 28.7% QoQ to Rs 140.72 crore during the quarter.

Cigniti Technologies: The company’s board has approved proposal for buyback of equity shares of the company for an aggregate amount of Rs 38 crore at a price not exceeding Rs 500 per equity share of face value of Rs 10 each.