Share Market HIGHLIGHTS: Sensex ends choppy session 75 pts higher, Nifty above 17,750; Nestle India flat after Q1 results
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex finished a volatile session barely in the green on Tuesday, extending gains to a fourth straight day, with the Sensex settling at 60,130.7 and the Nifty50 crossing the 17,750 level. The Indian share market tracked mixed moves across global markets as the focus shifted to a slew of big earnings announcements due this week. Meanwhile, a lack of clarity on when to expect a firm end to the current cycle of benchmark interest rates in major economies kept investors on the back foot.
Here are some of the headlines that were in focus on Dalal Street on April 25:
- Mankind Pharma IPO opens today; should you subscribe?
- Pick of the Week: TCS, Pidilite, IDFC among analysts' top picks this week
Catch minute-by-minute updates of all the action in the Indian share market on April 25, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex finished a volatile session barely in the green on Tuesday, extending gains to a fourth straight day, with the Sensex settling at 60,130.7 and the Nifty50 crossing the 17,750 level. The Indian share market tracked mixed moves across global markets as the focus shifted to a slew of big earnings announcements due this week. Meanwhile, a lack of clarity on when to expect a firm end to the current cycle of benchmark interest rates in major economies kept investors on the back foot.
Here are some of the headlines that were in focus on Dalal Street on April 25:
- Mankind Pharma IPO opens today; should you subscribe?
- Pick of the Week: TCS, Pidilite, IDFC among analysts' top picks this week
Catch minute-by-minute updates of all the action in the Indian share market on April 25, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
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Share Market Today LIVE | Nifty 50, Sensex edge higher at the close; Bajaj twins, Bharti Airtel, Britannia among top blue-chip gainers
The Nifty 50 ends with a gain of 25.9 points or 0.2 per cent at 17,769.3, having broadly moved within the 17,700-17,800 band during the session. The Sensex finishes at 60,130.7, up 74.6 points or 0.1 per cent from its previous close, after gyrating in a range of more than 300 points around the flatline.
Here's how the main indices moved through the day:
Nifty 50
Sensex
Images: NSE, BSE
ITC becomes 6th most valued firm on BSE
ITC – a cigarette-to-hotel conglomerate – on Tuesday became the sixth largest company after it piped Infosys to hit a market capitalization of Rs 5,12,345.03 crore.
The stock jumped around a per cent to touch a new life high of Rs 413.45 per share on the BSE today.
Earlier last week, the FMCG company had surpassed mortgage lender HDFC Bank to become the seventh largest company in terms of market cap.
Axis Bank Q4 earnings on April 27
Axis Bank – India’s fourth largest private lender in market cap – is expected to report a loss of Rs 4,800 crore for the quarter ended March 2023 (Q4FY23) amid the Citi merger.
Axis Bank shares are flat with a positive bias at Rs 884.70 per share on the BSE during Tuesday’s session.
The banking heavyweight is scheduled to release its financial results for the January-March period on Thursday, April 27, 2023. Read More
Venus Remedies shares gain
Venus Remedies shares gained nearly 1 per cent to Rs 199.60 per share, after hitting the day’s high of Rs 207.45 apiece on the BSE during Tuesday’s session.
Venus Remedies – a pharma company – said it has secured marketing authorisation from the UK for Cisplatin, a chemotherapy drug used as a first-line treatment for advanced ovarian cancer, testicular cancer, and bladder carcinoma.
Mankind Pharma IPO Subscription Status
The Initial public offering (IPO) of Mankind Pharma was subscribed 0.04 times around 1:30 PM on the first day of the offer on April 25, 2023.
The initial share sale received 11,45,690 bids as against 2,80,41,192 shares offered. The three-day IPO will close on April 27, 2023.
Anupam Rasayan shares hit fresh high
Anupam Rasayan shares hit a lifetime high of Rs 1,131 per share on the BSE, after surging by over five per cent as the speciality company signed a Letter of Intent worth revenue of Rs 380 crore ($46 million) with a leading American multinational company to supply new age specialty chemical.
Shares of Anupam Rasayan – one of India’s leading custom synthesis and speciality chemical players – on Tuesday climbed around 4 per cent to Rs 1117.80 per share at around 1:15 PM today.
Share Market Today LIVE | Bajaj Auto scales 52-week peak ahead of Q4 results
Bajaj Auto share price continued to be in demand for the last few sessions and has hit a record high for the fifth straight session of Rs 4,375 apiece on Tuesday amid high hopes from Q4 earnings today.
The two-wheeler and three-wheeler maker’s stock pared early morning gains and was trading flat with a positive bias at Rs 4,340.9 per share on the BSE today as compared to the previous day’s closing of 4335.70 apiece.
The auto company's quarterly standalone net profit is estimated at Rs 1,373 crore, which translates to a decline of 6.6 per cent compared with the corresponding period a year ago.
Tata Consumer Products Q4 Results Preview | Revenue likely to grow 11% led by India food unit
Tata Consumer Products — a Tata group company — is all set to report its financial results for the quarter ended March 2023 today. According to Zee Business research, its consolidated quarterly revenue is estimated at Rs 3,510 crore, an increase of 11 per cent compared with the corresponding period a year ago boosted by growth in its India foods business.
The net profit of Tata Consumer Products — whose popular brands include Tata Salt, Tetley, Tata Coffee, Tata Starbucks and Tata Sampann — is estimated at Rs 254 crore for the three-month period, which translates to an increase of six per cent on a year-on-year basis.
Its margin — a key measure of a business's profitability, however, is estimated to shrink by 100 basis points on a year-on-year basis to 13 per cent.
Read more on what to expect in Tata Consumer Products Q4 results
Axis Bank Q4 preview: Net loss likely at Rs 4,800 crore due to Citi merger; NII seen rising 37%
Axis Bank is all set to report its financial results for the quarter ended March 2023 on April 27. According to Zee Business research, the private sector lender's net loss for the three-month period is estimated at Rs 4,800 crore owing to the Citi merger. For the corresponding period a year ago, Axis bank had reported a net profit of Rs 4,117.8 crore.
According to the research, the bank's net interest income (NII) — or the difference between interest earned and interest paid — is pegged at Rs 12,100 crore, which translates to growth of 37.2 per cent on a year-on-year basis.
Share Market Today LIVE | Larsen & Toubro shares gain after construction major wins orders worth at least Rs 1,000 crore
L&T shares build on to the day's gains to rise as much as one per cent to Rs 2,252 apiece on BSE, after the construction major says its power transmission and distribution arm won significant orders.
Image: BSE
L&T categorises orders to the tune of Rs 1,000-2,500 crore as significant.
Share Market Tips LIVE | Buy Bajaj Auto shares, target Rs 4,600, says Chandan Taparia
Chandan Taparia of Motilal Oswal Financial Services recommends buying Bajaj Auto shares for a target price of Rs 4,600 with a stop loss at Rs 4,180.
Bajaj Auto Q4 Results Preview | Profit likely to decline 6.6% to Rs 1,373 crore
Bajaj Auto — India's largest two- and three-wheeler maker by sales whose popular models include Bajaj Pulsar, Bajaj Dominar and Bajaj Discover — is all set to report its corporate earnings for the quarter ended March 2023 today.
According to Zee Business research, Bajaj Auto's quarterly standalone net profit is estimated at Rs 1,373 crore, which translates to a decline of 6.6 per cent compared with the corresponding period a year ago.
Nestle India Q1 Results | Net profit jumps 24.7% to Rs 736.6 crore, exceeds Street estimates; shares hold on to mild gains
Nestle India — which manufactures instant noodles Maggi — reports a 24.7 per cent year-on-year jump in net profit to Rs 736.6 crore for the quarter ended March 2023. Its revenue from operations grow 21 per cent to Rs 4,830.5 crore, boosted by a 21.2 per cent rise in domestic sales, according to a regulatory filing.
According to Zee Business research, Nestle India's quarterly net profit was pegged at Rs 677 crore and at Rs 4,413 crore. Nestle India says its domestic sales, at Rs 4,612.7 crore, are driven by broad-based growth with a healthy balance of pricing, volume and mix.
Read more on Nestle India Q1 results
Nestle India Q1 results today: Maggi maker may post double-digit growth in profit, revenue
According to Zee Business research, the FMCG major’s quarterly net profit is estimated at Rs 677 crore, which translates to a 14 per cent increase on a year-on-year basis.
