Nifty, Sensex May Try to Bounce Back - Tuesday Closing Report
Moneylife Digital Team 07 May 2024
On Tuesday, 1084 stocks advanced, 2738  declined and 110 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 0.39, indicating negative closing of stocks in broader markets. The trend of the major indices on Tuesday’s trading is given in the table below.
On NSE, 81 securities advanced and closed at a new 52-week high whereas 25 securities sank to close at their new 52-week lows. In sectoral indices, Nifty IT and Nifty FMCG were among the biggest gainers. Nifty Metal, Nifty PSU Bank and Nifty Energy were among the biggest losers. Stocks of consumer products companies were up due to higher offtake of products in the rural area.
Lupin's (-4.37%) results for Q4 and the fiscal year ending March 31, 2024, reveal significant growth. Consolidated net profit surged by 51.91% to Rs368.22 crore in Q4FY24 from Rs242.39 crore a year earlier, while total income rose by 11.70% to Rs4,990.04 crore. For the full fiscal year, net profit soared over 4 times to Rs1,935.57 crore compared to Rs 447.69 crore in the previous year, with total income climbing by 20.44% to Rs20,130.99 crore.
Gland Pharma (+0.22%) has received approval from the United States Food and Drug Administration (USFDA) for Edaravone Injection, 30 mg/100 mL (0.3 mg/mL) and 60 mg/100 mL (0.6 mg/mL), Single-Dose Bags. The Product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Radicava Injection, 30 mg/100 mL (0.3 mg/mL) and 60 mg/100 mL (0.6 mg/mL) of Mitsubishi Tanabe Pharma Corporation.
Persistent Systems (-0.76%) has launched iAURA, a suite of AI-powered data solutions engineered to catalyze business growth
Shyam Metalics (-1.13%) and Energy has commenced operations at recently acquired Ramsarup plant following its indirect acquisition through its wholly owned subsidiary, Shyam Sel and Power.
PNC Infratech (-1.58%) has received provisional completion certificate (PCOD) for project ‘Four Laning of Meerut - Najibabad section from km 11.500 (design chainage 11.500 Meerut) to km 39+240 (Design Chainage 39.250 Behsuma) and from km 86.590 (Design Chainage 79.500 Bijnor) to km 112.545 (Design Chainage 105.700 Jalalabad) of NH - 119 (New NH - 34) in the State of Uttar Pradesh under Bharatmala Pariyojna on Hybrid Annuity Mode’ executed by one of its subsidiary companies namely ‘PNC Meerut Haridwar Highways’
Exhicon Events Media Solutions (+3.18%) has won a Sizeable Tender from Nuclear Power Corporation of India (NPCIL), wherein from the June 2024 to April 2025, Exhicon will be conducting a series of 120 events for the Nuclear Power Corporation of India.
Thomas Cook (India) (+0.17%) has launched its Video KYC with paperless processes, to empower its retail customers. This transformative digital solution aims to bring customers ease and convenience, enabling seamless foreign exchange services from the comfort of their home.
Oberoi Realty (-1.91%) has entered into a Development Agreement for development and redevelopment of land of around 12,790 square meters, situate at Adarsh Nagar, Worli, Mumbai.
Orient Electric (-2.35%) has commenced the Commercial Production from its greenfield manufacturing plant at Hyderabad, Telangana.
Bombay Dyeing & Manufacturing Company (-4.06%) has received approval for entering into Share Purchase, Subscription and Shareholder’s Agreement along with the Power Purchase Agreement and Option Agreement to acquire up to 26% equity stake in one or more tranches in AMP Energy C&I Twenty Seven (a wholly owned subsidiary of AMP Energy C & I), for setting up captive solar power project in Maharashtra.
Entero Healthcare Solutions (+0.91%) has received approval to execute the definitive agreements to acquire 80% paid-up equity share capital of Avenir Lifecare Pharma (ALPPL). The business of ALPPL is in line of the business of the Company i.e. wholesale distribution of pharmaceutical and other allied products and the acquisition of ALPPL by the company shall enable the Company to expand its business in the State of Telangana and thereby enabling the company to generate additional business and revenue on consolidated basis.
VA Tech Wabag (-3.26%) has secured a repeat order from Office National De L’assainissement (ONAS) of Tunisia. The consortium order entails design, build, operate (DBO), towards a 36 MLD wastewater treatment plant (WTP) valued at 114.22 Million Tunisian Dinars (approximate Euro 34 Million), located at Sousse Hamdoun II, Tunisia. The scope under this order will be engineering & procurement (‘EP') and operation & maintenance (O&M), which is worth about half of the consortium order value.
Earning Highlights
Century Textiles (-4.77%): Net Sales was Rs1,686 crore in Q3FY24 up 72% YoY (Rs982 crore). Net Profit was Rs20.6 crore in Q3FY24 down 58% YoY (Rs142 crore).
SRF: Net Sales was Rs3,570 crore in Q3FY24 down 6% YoY (Rs3,778 crore). Net Profit was Rs422 crore in Q3FY24 down 25% YoY (Rs562 crore).
Graphite India (-5.09%): Net Sales was Rs720 crore in Q3FY24 down 12% YoY (Rs815 crore). Net Profit was Rs16.0 crore in Q3FY24 down 45% YoY (Rs29 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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