Nifty, Sensex Head Higher - Tuesday Closing Report
Moneylife Digital Team 14 May 2024
On Tuesday, 2665 stocks advanced, 1145 declined and 113 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 2.32, indicating positive closing of stocks in broader markets. The trend of the major indices on Tuesday’s trading is given in the table below.
 
 
On NSE, 79 securities advanced and closed at a new 52-week high whereas 16 securities sank to close at their new 52-week lows. In sectoral indices, Nifty FMCG  and Nifty Pharma were among the biggest losers. Nifty Metal, Nifty Auto and Nifty Energy were among the biggest gainers.
 
The Reserve Bank of India (RBI) has accorded its approval to Quant Money Managers to acquire aggregate holding of up to 9.98% of the paid-up share capital or voting rights in RBL Bank through various schemes of Quant Mutual Fund. The approval has been granted with reference to the application made by Quant Money Managers to RBI. Quant Mutual Fund through its various scheme held 4.68% of the equity share capital of the Bank.
 
Jubilant Ingrevia (-2.43%) has reported 44.08% fall in its net profit at Rs 29.25 crore for fourth quarter ended March 31, 2024 as compared to Rs52.31 crore for the same quarter in the previous year. Total income of the company decreased by 6.07% at Rs 1,083.94 crore for Q4FY24 as compared Rs1153.98 crore for the corresponding quarter previous year. For the year ended March 31, 2024, the company has reported 35.89% fall in net profit at Rs 162.45 crore as compared to Rs 253.41 crore for the previous year. Total income of the company decreased by 12.37% at Rs 4022.77 crore for year under review as compared to Rs 4590.60 crore for year ended March 31, 2023.
 
PVR INOX (-1.57%) and Devyani International (DIL) have extended their association and entered into strategic partnership to jointly establish a company in India for the purpose of development and operation of food courts within shopping malls in India
 
Arihant Foundations and Housing is planning to invest Rs650 crore in its home city and Bengaluru within FY25. The company will invest Rs150 crore to develop Grade A office spaces in Bengaluru and the rest of the investment will be in Chennai real estate.

Sterlite Technologies (STL) (+1.80%) has entered into strategic partnership with du, from Emirates Integrated Telecommunications Company (EITC), one of the top telecom companies in the UAE.
 
Manali Petrochemical (+6.03%) has received an approval for setting up of additional Manufacturing facilities at Western Part of India.
 
Rail Vikas Nigam (+7.43%) has received Letter of Acceptance (LoA) from Southern Railway for ‘Provision of Automatic Block Signaling system in Jolarpettai Junction to Erode Junction of Salem Division in Southern Railway.’ The project cost is Rs239.09 crore (including GST).
 
Tata Consultancy Services (TCS) (-1.10%) will set up Global Artificial Intelligence (AI) Center of Excellence in Paris. The new AI center will be based in the upcoming TCS PacePort in the La Defense area of Paris, which will be inaugurated in June 2024, becoming the 7th such facility in TCS’ global pace network, following Amsterdam, London, New York, Pittsburgh, Toronto, and Tokyo.
 
Ashiana Housing has raised Rs 125 crore through the allotment of 12,500 secured, rated, listed, senior redeemable, taxable, non-convertible debentures (NCDs) on Private Placement basis. The Executive Committee of board of directors of the company (through Resolution by Circulation), has allotted the same.
 
Earning Highlights
Dynamic Cables (+12.26%): Net Sales was Rs241 crore in Q3FY24 up 35% YoY (Rs178 crore). Net Profit was Rs13.8 crore in Q4FY24 up 38% YoY (Rs9.98 crore).
 
Kirloskar Brothers (+8.79%): Net Sales was Rs1,224 crore in Q3FY24 up 9% YoY (Rs1,125 crore). Net Profit was Rs153 crore in Q4FY24 up 32% YoY (Rs101 crore).
 
Thyrocare Tech (+3.52%): Net Sales was Rs141 crore in Q3FY24  up 12% YoY (Rs125 crore). Net Profit was Rs19 crore in Q4FY24 up 94% YoY (Rs9.93 crore).
 
BASF India (+12.89%): Net Sales was Rs3,360 crore in Q3FY24  up 3% YoY (Rs3,277 crore). Net Profit was Rs162 crore in Q4FY24 up 94% YoY (Rs82.4 crore).
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
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Weekly Moneylife Indices & Sector Trends
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INDIAN MARKET TRENDS
From 3rd May to 9 May 2024, the Sensex and the NIFTY fell 2% each. ML Mega-cap Index and ML Large-cap Index fell 3% and 4% each. ML Micro-cap Index, ML Small-cap Index and ML Mid-cap Index fell 5% each.
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