Nifty, Sensex Sell Off Again – Thursday Closing Report
Moneylife Digital Team 18 April 2024
On Thursday, 1864 stocks advanced, 1933 declined and 132 remained unchanged, with an advance decline ratio of 0.96 on the Bombay Stock Exchange (BSE), indicating positive closing of stocks in broader markets. The trend of the major indices on Thursday’s trading is given in the table below. 
 
 
On NSE, 127 securities advanced and closed at a new 52-week high whereas 8 securities sank to close at their new 52-week lows.  In sectoral indices, Nifty Media was the only gainer. Nifty FMCG, Nifty Pharma and Nifty Energy were among the biggest losers. 
 
Sterling Tools (+7.43%) through its subsidiary signed a Memorandum of Understanding (MoU) with South Korea’s, Yongin Electronics Co., a major supplier of components to the Hyundai Kia Motor Group.
 
Power Grid Corporation (+2.57%) of India received an approval for the raising of Bonds as Unsecured, Non-convertible, Non-cumulative, Redeemable, Taxable POWERGRID Bonds Issue(s) during FY 2024-25 in one or more tranches / series up to Rs12,000 crore.
 
Ramkrishna Forgings (+1.38%) secured approval to supply power train components to USA’s largest electric passenger vehicle producer.
 
Adani Enterprises’ (-2.17%) step-down subsidiary -- Mumbai Travel Retail (MTRPL) completed the incorporation process of a joint venture (JV) company namely ‘KING POWER OSPREE PTE.’ (KPO) in Singapore on April 16, 2024 with KING Power international Pte., Singapore.
 
Bharti Airtel (+4.06%), Dialog Axiata PLC (Dialog) and Axiata Group Berhad (Axiata) signed a definitive agreement to combine their operations in Sri Lanka.
 
Infosys (+1.10%) collaborated with Proximus, Belgium’s leading digital services and communications solutions provider, on the ServiceNow platform.
 
Shilpa Medicare’s (-3.07%) marketing partner -- Amneal Pharmaceuticals launched PEMRYDI RTU (Pemetrexed injection 10 mg/mL), the first ready-to-use pemetrexed formulation in the US market.
 
Talbros Automotive Components’ (TACL) (+4.99%) Joint Venture Company (JV) -- Marelli Talbros Chassis Systems (MTCS) secured order from a large European OEM for a multi-year contract valued at around Rs1,000 crore.
 
Aster DM Healthcare (Aster) (+0.20%) and Malabar Institute of Medical Sciences (MIMS), a material subsidiary of Aster DM Healthcare, signed a definitive agreement on April 17, 2024, to acquire 26% stake in Oyster Green Hybrid Two.
 
Biocon (+1.61%) signed an exclusive licensing and supply agreement with Biomm S.A., a specialty pharmaceutical company in Brazil, for the commercialization of its vertically integrated drug product, Semaglutide (gOzempic), which is used to improve glycemic control in adults with type-2 diabetes.
 
Kamat Hotels (+2.43%) opened their new hotel, The IRA by Orchid, Ayodhya in Uttar Pradesh. Power Mech Projects (+0.07%) received orders worth Rs232.03 crore.
 
Earnings: 
 
HDFC Life Insurance Company Ltd (+0.55%): Net Sales was Rs28,041  crore in Q4FY24 up 34% YoY (Rs20,857 crore). Net Profit was Rs412 crore in Q4FY24 up 14% YoY (Rs362 crore)
 
Angel One (-2.18%): Net Sales was Rs1,357  crore in Q4FY24 up 64% YoY (Rs826 crore).
 
Net Profit was Rs340 crore in Q4FY24 up 27.34% YoY (Rs267 crore).
 
Tata Communications (-1.42%): Net Sales was Rs5,692 crore in Q4FY24 up 24% YoY (Rs4,569 crore). Net Profit was Rs322crore in Q4FY24 down 1.5% YoY (Rs327 crore)
 
Just Dial (+13.56%): Net Sales was Rs270 crore in Q4FY24 up 15% YoY (Rs233 crore). Net Profit was Rs116 crore in Q4FY24 up 38% YoY (Rs84 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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