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Market Opening - An Overview
SGX Nifty futures were trading 0.51% higher at 16,258.50, signalling that Dalal Street was headed for a positive start on Friday.
Asian shares were trading higher tracking overnight rally in the US markets and strong earnings from Chinese technology companies. Japan’s Nikkei 225 was up 0.63% and Topix rose 0.41%. China’s Hang Seng surged 2.97% and CSI 300 was up 0.9%.
Indian rupee fell 5 paise to 77.57 against the US dollar on Thursday.
Paradeep Phosphates will make its debut on the stock exchanges today. Its issue price was fixed at Rs 42 per equity share.
FII/DII Trading Data
Upcoming Results
JSW Steel, FSN E-Commerce Ventures (Nykaa), GAIL, Glenmark Pharma, Godrej Industries, India Cements, PB Fintech (Policy Bazaar), Ruchi Soya, Jubilant Pharmova, Jubilant Industries, Aarti Industries, Ion Exchange, Info Edge India, JP Power, Aegis Logistics, Akzo Nobel India, Apar Industries, Arvind Fashions, Astral Pipes, Atul Auto, Balmar Lawrie, BEML, Crompton Greaves Consumer Electricals, City Union Bank, Edelweiss Financial Services, Engineers India, ESAB India, Everest Industries, Exxaro Tiles, Future Consumer, Force Motors, Heritage Foods, HT Media, Inox Wind, IRCON International, Kalyani Forge, Karnataka Bank, Lemon Tree Hotels, Man Industries, Oil India Ltd, Ramky Infrastructure, Sun TV, Tarsons Products, TCNS Brands, United Spirits, and VRL Logistics will release their quarterly earnings.
Stocks in News Today
Hindalco Industries: The flagship metals company of the Aditya Birla group said its consolidated net profit doubled year-on-year (YoY) to Rs 3,851 crore in Q4FY22. Hindalco’s consolidated revenue for Q4FY22 rose 37.66% to Rs 55,764 crore versus the year-ago period.
Oil and Natural Gas Corporation (ONGC): The company said it will invest Rs 31,000 crore over the next three years in exploring the Indian sedimentary basin for fuel reserves which could augment the nation’s production in its attempt to be self-reliant in the energy sector. ONGC said it also plans to leverage international collaborations with reputed global majors for this, for which talks are in an advanced stage.
Coal India Ltd (CIL): The company said that it is planning to divest 25% stake in its unlisted arm Bharat Coking Coal Ltd (BCCL) and will go for the subsequent listing of the subsidiary on stock exchanges after obtaining further clearances.
BPCL: The government withdrew its offer to sell its entire 52.98% in BPCL, saying two of the three companies that had shown interest in acquiring the public sector undertaking (PSU) withdrew their bids. They have expressed their inability to participate in the current privatisation process due to prevailing conditions in the global energy market.
NMDC: The state-owned company said its consolidated net profit fell 36% to Rs 1,812.98 crore for the quarter ended March 2022, as against Rs 2,835.54 crore net profit in the year-ago period. During the quarter under review, the company’s total income rose marginally to Rs 7,034.83 crore, from Rs 6,932.75 crore in the year-ago period.
SJVN Ltd and Tata Power: The state-owned company SJVN inked a pact with Tata Power Solar Systems to build a 1,000 MW solar project worth Rs 5,500 crore in Bikaner, Rajasthan. The contract includes end-to-end delivery of commissioned solar plant to SJVN including arrangement of land on outright purchase basis, power evacuation system up to the ISTS (inter-state transmission system) sub station, and operation and maintenance of the solar PV plant for three years.
Muthoot Finance: The company reported a marginal decline in its consolidated net profit at Rs 1,006.23 crore for the quarter ended March 2022 as core interest income fell. It had registered a net profit of Rs 1,023.76 crore in the same period a year ago. The company’s total income during Q4FY22 declined to Rs 3,041.14 crore from Rs 3,118.98 crore in same period of FY21. The interest income was down by 3.7% at Rs 2,916.87 crore from Rs 3,029.83 crore in the year-ago period.
Piramal Enterprises: The company reported a consolidated net profit of Rs 151 crore in the January-March quarter of FY22, compared to loss of Rs 510 crore in the year-ago period. Revenues were up 16% YoY to Rs 4,163 crore in Q4FY22 as against Rs 3,402 crore in the year-ago period.
Zee Entertainment Enterprise Ltd (ZEEL): The company reported a consolidated net profit of Rs 181.93 crore for the quarter ended March 2022. The company had posted a net profit of Rs 272.36 crore in the year-ago period. Its total income during the quarter under review was Rs 2,361.17 crore. It was at Rs 1,984.39 crore in the year-ago period.
Berger Paints India: The company reported a 5.6% increase in consolidated net profit to Rs 220.29 crore for the fourth quarter ended March 2022. It had posted a consolidated net profit of Rs 208.60 crore in the year-ago period. Revenue from operations was up 7.96% at Rs 2,187.51 crore during the quarter as against Rs 2,026.09 crore in the year-ago period.
Bharat Dynamics: The company’s Q4FY22 net profit improved marginally by 1.5% year-on-year (YoY) to Rs 2,644 crore as compared to a profit of Rs 2,604 crore during the same period last year. Its revenue increased by 21.5% YoY to Rs 13,811 crore compared to fourth quarter of last fiscal.
Torrent Pharmaceuticals: The company said that it has entered into an agreement to acquire four brands from Dr Reddy’s Laboratories. The four brands are ‘Styptovit-E’, ‘Finast’, ‘Finast-T’, and ‘Dynapress’ that will strengthen Torrent’s presence in the therapy segment.
Jet Airways: The company reported a standalone net loss of Rs 233.63 crore for the three months ended March 2022. The full service carrier had a standalone net loss of Rs 107.01 crore in the year-ago period. Total income stood at Rs 11.63 crore in the latest March quarter compared to Rs 17.73 crore in the year-ago period.