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Q4 EARNINGS: SANOFI INDIA
- Revenue: Rs 707 cr vs Rs 725 cr YoY
- Profit: Rs 238 cr vs Rs 146 cr YoY
- Stock up 2% on BSE post Q4 nos
Tyre stocks gain up to 5%
Price as on 26 Apr, 2022 02:29 PM, Click on company names for their live prices.
Ahead of earnings Bajaj Finance stock trades firm
Bajaj Finance is likely to report year-on-year (YoY) Net Interest Income (NII) growth for the March quarter in the thirties, while net profit growth is also likely to be strong, said an analyst tracking the company. The Bajaj Group crown jewel is likely to report 33 per cent growth in NII, said analysts. They had a varied projection on profit growth for the quarter, in the range of 47-80 per cent YoY.
Future Group stocks that trade at 52-week lows
Price as on 26 Apr, 2022 01:49 PM, Click on company names for their live prices.
Sensex live updates: Index off day’s low, but still up 400 points
Sources on LIC IPO: Up to 5% differential discounts likely to LIC employees & policyholders
#ETNOWExclusive | Sources on #LICIPO: Up to 5% differential discounts likely to #LIC employees & policyholders. Exp… https://t.co/mm9vIAnydU
— ET NOW (@ETNOWlive) 1650957539000
LIC press conference on April 27 at 12:30 pm on IPO
IPO UPDATE: Campus Activewear retail portion full subscribed
Overall, the issue is subscribed 62%, with main demand coming from retail bidders. QIB portion did not see any bids yet.
Top 5 gainers from FMCG pack
Price as on 26 Apr, 2022 12:46 PM, Click on company names for their live prices.
April auto sales preview
Apart from the low base of last year, Tractor volume growth is likely to be driven by improvement in farm income and some preponed purchases due to expected price hikes, while 2-Wheelers’ growth should be supported by marriage/festive season demand.
Amid global shortages due to the Russia-Ukraine conflict, Indian farmers are benefiting from better crop realizations. Further, dealer interactions indicate robust volumes in both CVs and PVs.
Market live updates: BSE MIDCAP index rallies 1.5%; Ruchi Soya best performer in the pack
Shriram Properties Ltd has entered into an agreement with LOGOS for potential sale of up to 90 acres of land in Shriram Grand City at Uttarpara here for an undisclosed sum, officials said.
Price as on 26 Apr, 2022 12:07 PM, Click on company names for their live prices.
Footwear stocks made a comeback today as the Rs550bn footwear market in India is witnessing consumerism once again aided by both Value for Money and Aspirational brands. The sector is likely to see double-digit growth over the next few years aided by very low per capita consumption and should help the half a dozen listed footwear entities gain market share.
– LKP Securities
Market live updates: Nifty Auto best sectoral performer
- Index rises over 2% with all constituents in the green
- TVS Motor, Ashok Leyland, Hero Moto top gainers
Trading in Sri Lanka stocks halted again as selloff continues
Stocks in Sri Lanka slid for a second day, triggering trading halts within minutes of opening, as investors continued to fret over over the island nation’s efforts to overcome an economic crisis. The Sri Lanka Stock Market Colombo All-Share Index plunged 7.3% as of 11:02 a.m. local time, after losing 7.6% in Monday’s session that lasted barely 32 minutes. Two circuit breakers were triggered on Tuesday as the blue-chip index slumped more than 7.5%. Losses of 10% would result in the market being closed for the rest of the day. (Source: Bloomberg)
Biocon Biologics Ltd on Tuesday said its subsidiary has bagged a three-year contract, valued at USD 90 million (around Rs 688 crore), from the Malaysian government for the supply of recombinant human insulin brand Insugen.
Price as on 26 Apr, 2022 11:32 AM, Click on company names for their live prices.
Premier Explosives bags Rs 58 crore contract from Ministry of Defence
Premier Explosives received an order from Ministry of Defence for procurement of 50 MM MTV Flares to be delivered within twelve months from the effective date of contract. Size of the order is Rs 58 crore. Stock rose 4% after this development.
Market live updates: Top 10 gainers on NSE in late morning session
Price as on 26 Apr, 2022 11:24 AM, Click on company names for their live prices.
RBI to hike repo rate in June, earlier than previously thought: Reuters Poll
- The Reserve Bank of India will raise its repo rate in June and hike at a faster pace than predicted just a few weeks ago as a surge in inflation puts pressure on the central bank to act quicker, a Reuters poll showed.
- Retail inflation accelerated to nearly 7% in March, above the 6% upper limit of the central bank’s targeted range, and will likely soar further as a spike in global energy prices since Russia’s invasion of Ukraine seeps into consumer prices.
- The Monetary Policy Committee (MPC) kept its key rate at a record low 4.0% at its April meeting despite shifting its focus to inflation from growth.
The Ukraine war has shot commodity prices higher worldwide, Ukraine being the largest exporter of oilseeds like sunflower, and soybean seeds have pushed the edible oil prices. The Indonesian palm oil export ban and Malaysian export tax will further squeeze the oil supply. This whole problem has skyrocketed edible oil prices in India, benefiting Edible Oil companies like Adani Wilmar. The company will have windfall gains via. Unsold inventory revaluation. Further, this situation will improve the overall margins for the company. Due to these factors the company has finally crossed the Rs 1 lakh market cap level, however, we advise investors to stay cautious as the stock has moved far ahead from its fundamentals.
– Santosh Meena, Head of Research, Swastika Investmart on Adani Wilmar
LIC IPO: Sebi approval on updated DRHP received
LIC RHP likely to be filed soon, formalities for RHP completed: ET NOW Sources
The Rs 1,400 crore initial public offering (IPO) of Campus Activewear opened for subscription from today. The company is selling its shares in the range of Rs 278-292 apiece. The Delhi-headquartered Campus Activewear manufactures and distributes a variety of footwear like running shoes, walking shoes, casual shoes, floaters, slippers, flip flops and sandals in multiple colours and styles.
Market live updates: L&T to collaborate with IIT Bombay for green hydrogen technology development
Price as on 26 Apr, 2022 10:03 AM, Click on company names for their live prices.
Market View: Dr V K Vijayakumar, Chief Investment Strategist, Geojit Financial
An interesting feature of the current volatile global equity market trend is that sharp dips in the market are followed by sharp upmoves. Dips caused by increasingly hawkish comments from the Fed, prolonging war in Ukraine and harsh lockdowns in China are getting bought resulting in recoveries. Whether it is in the US or India, retail investor enthusiasm is supporting markets even on negative news. This heightened volatility is likely to continue in the coming days. Investors can use the volatility to buy high quality stocks across segments. Banking stocks are at buyable valuations and IT stocks after the recent correction are good long-term bets.
Citi finds RIL Rs 3,170-worth as it upped its rating on the scrip to ‘buy’ to factor in a refining boost. Despite recovery from the recent low, RIL shares have still underperformed the broader market by over 20 per cent since mid-2020. The brokerage has raised its FY23-24 Ebitda estimate for RIL by 3-9 per cent. While Q4 results may not see any major benefits in the oil-to-chemicals (O2C) segment, any stock correction is an enhanced buying opportunity, Citi said.
Ahead if earnings…
Price as on 26 Apr, 2022 09:34 AM, Click on company names for their live prices.
BUZZING STOCK: ADANI WILMAR
The stock rose 5% with its market cap surging past Rs 1 lakh crore mark
Vodafone Idea, Future Consumer, Adani Power among most active stocks on NSE
Price as on 26 Apr, 2022 09:22 AM, Click on company names for their live prices.
Sector Watch: All indices gain in early trade
Sensex Heatmap: A sea of green…
OPENING BELL: Sensex rises 600 points, Nifty near 17,150; IndusInd Bank, M&M gain 2% each
Forex Market Alert: Rupee opens at 76.46/$ vs Monday’s close of 76.96/$
Pre-open session: Sensex jumps 500 points, Nifty tops 17,000
Bajaj Finance, HDFC Life, Macrotech Developers & AU SFB to report Q4 results today
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 100 points, or 0.59 per cent, higher at 17,095, signaling that Dalal Street was headed for a negative start on Monday.
Tech View: Nifty50 to face resistance at 17,050
NSE Nifty formed a bearish candle on daily charts on Monday closing below the psychological level of 17,000. Technical setup suggests the index may travel to as low as 16,600 in near term. the index has again created a gap area on the daily chart today, which is near 17,054-17,149.
Dollar ascends on China COVID fears, Fed rate hike pace
The dollar climbed to around a two-year high against the euro and an 18-month high versus the pound as fears about the economic impact of China’s COVID-19 lockdowns and an aggressive pace of U.S. rate hikes sent investors scrambling for safety. The dollar index, which measures the greenback against six main peers, was at 101.58, after jumping 0.58% on Monday and hitting a two-year peak of 101.86.
Oil prices recover after a sharp drop
Oil prices opened slightly higher on Tuesday, after falling sharply the prior session on worries that continued COVID-19 lockdowns in China would eat into demand and as the US dollar rose to a two-year high. Brent crude futures were at $102.57, up 25 cents, or 0.2 per cent and US West Texas Intermediate contracts climbed to $98.70, up 16 cents, or 0.2 per cent at 0002 GMT.Both contracts had settled down around 4% on Monday, with Brent down as much as $7 a barrel in the session and WTI dipping roughly $6 a barrel.
Hong Kong shares rise at open
Hong Kong stocks started Tuesday with small gains after suffering another hefty drop in the previous session, though traders remain on edge over China’s worsening Covid outbreak and lockdowns. The Hang Seng Index rose 0.60 percent, or 119.70 points, to 19,989.04. The Shanghai Composite Index edged up 0.07 percent, or 1.94 points, to 2,930.43, while the Shenzhen Composite Index on China’s second exchange added 0.10 percent, or 1.74 points, to 1,791.76.
Japan stocks open higher after US gains
Tokyo stocks opened higher on Tuesday as investors cheered gains on Wall Street while keeping a cautious eye on Chinese shares. The benchmark Nikkei 225 index added 0.59 percent, or 155.59 points, at 26,746.37, while the broader Topix index firmed 0.36 percent, or 6.69 points, to 1,884.09.The dollar stood at 127.59 yen, off from 128.15 yen on Monday in New York.
US stocks settle higher
US stocks stormed back from sharp losses in the morning to notch gains Monday, the latest round of turbulence for Wall Street. The S&P 500 climbed 24.34 points, or 0.6%, to 4,296.12 after erasing an early 1.7% loss. The Dow Jones industrial average rose 238.06 points, or 0.7%, to 34,049.46 after earlier being down 488 points, while the Nasdaq composite rallied 165.56, or 1.3%, to 13,004.85 to lead the market.
Rupee dives 22 paise to close at 76.64 against dollar
The rupee declined by 22 paise to close at 76.64 against the US dollar on Monday, tracking a strong greenback overseas and a lacklustre trend in the domestic equity markets. Heavy forex outflows amid growing worries over global growth weighed on the local units, traders said. At the interbank foreign exchange market, the rupee opened lower at 76.58 against the American currency, and finally settled for the day at 76.64.
Sensex, Nifty on Monday
The BSE Sensex reeled for the second session running on Monday, weighed by heavy selling in index heavyweight Reliance Industries and a drumbeat of negative cues from global markets. The 30-share benchmark opened on the back foot, in line with weak Asian equities, and remained in the negative territory throughout the session before closing 617.26 points or 1.08 per cent lower at 56,579.89. On similar lines, the broader NSE Nifty slumped 218 points or 1.27 per cent to 16,953.95.