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Market Opening - An Overview
SGX Nifty futures were trading 0.09 per cent higher at 17,065, signalling that Dalal Street was headed for a flat-to-positive start on Thursday.
Asian shares were trading higher on investors’ optimism after the US indices rose aided by solid earnings from Meta Platforms and Microsoft. Japan’s Nikkei 225 rose 0.64% and Topix was 0.97% higher. China’s Hang Seng gained 0.78% and CSI 300 was up 0.65%.
The Indian rupee inched up 4 paise to 76.53 against the US dollar on Wednesday.
FII/DII Trading Data (27-4-2022)
Category | Buy Value | Sell Value | Net Value |
FII/FPI | 6385.59 | 10450.13 | (4064.54) |
DII | 7425.48 | 5507.97 | 1917.51 |
Upcoming Results
Axis Bank, Bajaj Finserv, Ambuja Cements, SBI Life Insurance Company, Vedanta, Agro Tech Foods, Biocon, Coromandel International, Embassy Office Parks REIT, Fineotex Chemical, IIFL Finance, IndiaMART InterMESH, Laurus Labs, Motilal Oswal Financial Services, Mphasis, Procter & Gamble Hygiene & Health Care, PNB Housing Finance, Shoppers Stop, Shriram Transport Finance, Sterlite Technologies, and Varun Beverages will release quarterly results.
Stocks in News Today
Hindustan Unilever Ltd (HUL): The FMCG major reported 5.34 per cent rise in consolidated net profit at Rs 2,307 crore for the fourth quarter ended March 31, 2022. It had logged a net profit of Rs 2,190 crore in January-March period a year ago. Revenue from sales during the quarter under review stood at Rs 13,468 crore, up 10.21 per cent, as against Rs 12,220 crore in the year-ago period. The final dividend declared by the company was Rs 19 per share for FY22.
HDFC Asset Management Company: The company reported an 8.7 per cent growth in profit after tax (PAT) to Rs 343.55 crore in the quarter that ended in March 2022. It had posted a PAT of Rs 316.08 crore in the same quarter of the preceding fiscal. The company’s total income rose to Rs 580.93 crore in the period under review from Rs 545.57 crore in the year-ago period.
Bajaj Auto: The company said its consolidated net profit declined by 2 per cent to Rs 1,526.16 crore in the fourth quarter ended on March 31, 2022, on account of lower sales in both domestic and export markets. Total revenue from operations declined to Rs 7,975 crore during the fourth quarter as compared with Rs 8,596 crore in the same period of FY21.
The company’s total two-wheeler and commercial vehicle sales declined by 17 per cent to 9,76,651 units in the fourth quarter as compared with 11,69,664 units in the same period of 2020-21 fiscal. In the domestic market, the total sales declined by 27 per cent to 3,89,155 units as against 5,34,119 units in the same period of FY21.
Reliance Industries Ltd and Viacom18: The two companies have announced a strategic partnership with Bodhi Tree Systems, a platform of James Murdoch’s Lupa Systems and Uday Shankar, to form one of the largest TV and digital streaming companies in India. A press release issued by Reliance said Bodhi Tree Systems will raise finds with a consortium of investors to invest Rs 13,500 crore in Viacom18, to jointly build India’s leading entertainment platform and pioneer the Indian media landscape’s transformation to a “streaming-first” approach.
In a separate news, Reliance Industries Ltd and U.S. buyout firm Apollo Global Management are planning a joint bid for UK high street pharmacy chain Boots, the Financial Times reported, citing people familiar with the matter.
ONGC: The state-owned oil and gas exploration company has signed an MoU with Norway-based Equinor ASA for exploration and production, and clean energy.
Maruti Suzuki India (MSI): The company has partnered with Indian Bank to facilitate easy finance for customers. The company’s customers can avail the loan benefits in over 5,700 plus branches of Indian Bank at metro, urban, semi-urban and rural locations. Maruti Suzuki customers, under this exclusive scheme, can avail loans up to 90 per cent of the on-road price of the car besides getting benefits of zero processing charge.
Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL): The two oil marketing companies have bagged two licenses each for retailing CNG to automobiles and piped cooking gas to households in the latest bid round, regulator PNGRB said.
JSW Steel Limited and Apollo Hospitals: The two major corporations will buy land in Jammu and Kashmir to set up their respective units in the region. While JSW steel limited is all set to come up with its Rs 150 crore project in south Kashmir’s Pulwama district, Apollo Hospitals will set up its medicare facility in Jammu district, officials said.
Persistent Systems: The company reported a 14 percent sequential growth in profit at Rs 200.9 crore driven by higher revenue as well as operating income. Revenue rose 9.8 percent quarter-on-quarter to Rs 1,637.9 crore during the same period, with order booking for the quarter at $361 million in total contract value.
Trent: The company posted a loss of Rs 20.87 crore for the quarter ended March 2022 against a profit of Rs 17.44 crore in the same period last year, as overall expenses jumped 49 percent in the same period. Revenue grew 46.7 percent to Rs 1,328.9 crore compared to the year-ago period.
Indian Hotels Company Ltd (IHCL): The hospitality company reported a consolidated net profit of Rs 71.57 crore in the fourth quarter ended on March 31, 2022. It had posted a consolidated net loss of Rs 97.72 crore in the same period of the previous fiscal. Consolidated revenue from operations during the quarter was Rs 872.08 crore as against Rs 615.02 crore in the year-ago period. The Board of Directors at their meeting held have recommended a dividend of 40 paisa per share.