Nifty, Sensex Spooked By Iran-Israel Skirmish - Monday Closing Report
Moneylife Digital Team 15 April 2024
On Monday, 913 stocks advanced, 2991 declined and 145 remained unchanged, with an advance decline ratio of 0.31 on the Bombay Stock Exchange (BSE), indicating negative closing of stocks in broader markets. The conflict between Iran and Israel, significantly impacted the domestic market. Investors have become more cautious and are focusing on booking profits. If the situation deteriorates further, we might witness widespread selling in the domestic markets. The geopolitical uncertainties, along with the ambiguity surrounding potential interest rate cuts, are key factors influencing market sentiments. The trend of the major indices on Monday’s trading is given in the table below.
 
 
In sectoral indices, all indices ended in red with Nifty Media, Nifty PSU bank and Nifty IT were among the biggest losers.
 
Thermax (+4.32%) has opened state-of-the-art manufacturing facility in Pune for water and wastewater treatment solutions.
 
Mahindra & Mahindra (M&M) (-0.89%) has approved acquisition of 26% stake in one or more tranches in the Paid-Up Equity Share Capital of Gelos Solren (Gelos).
 
Brigade Enterprises (-2.08%) has entered into a Joint Development Agreement (JDA) with Agni Estates & Foundations to develop Brigade Tech Boulevard, a ‘Grade A’ office space on Pallavaram-Thoraipakkam Radial Road, in Chennai with an investment of around Rs400 crore.
 
Ambuja Cements (-0.14%) has signed definitive agreement to acquire My Home Group's 1.5 MTPA Cement Grinding Unit in Tuticorin, Tamil Nadu.
 
Shilpa Medicare (+0.62%) has raised Rs499.99 crore through qualified institutional placement (QIP) of equity shares.
 
Power Grid Corporation of India (-0.40%) is planning to raise funds via issue of Unsecured, Non-Convertible, Non-Cumulative, Redeemable, Taxable Powergrid Bond Issue(s) during FY 2024-25 in one or more tranches/ series up to Rs12,000 crore on private placement.
 
Easy Trip Planners (EaseMyTrip) (-2.90%) has launched its first franchise store in Karnal, Haryana. This move is a part of the brand’s expansion plans through the franchise model, highlighting its commitment to providing its customers with superior experiences through both offline and online channels.
 
Prime Focus (PFL) (-2.79%) has incorporated step down subsidiary company in the name of ‘Brahma AI’ in England and Wales.
 
Reliance Power (-4.94%) has concluded the slump sale / transfer of its 45 MW Wind Power Project located at Vashpet, Maharashtra to JSW Renewable Energy (Coated) and the consideration amounting to Rs 132.39 crore (net of TDS) has been received.
 
Ramkrishna Forgings (+2.60%) has secured significant order for the prestigious Vande Bharat Train Set. This order, valued at Rs270 crore, is to be supplied to the BHEL-TRSL consortium, marking a pivotal moment in the company's journey towards excellence in rail infrastructure development.
 
Hindustan Zinc (-5.41%) has signed Memorandum of Understanding (MoU) with Bhopal-based VEXL Environ Projects for setting up a pilot project for converting waste products into usable resources.
 
Sun TV Network (-1.65%) is all set to commence transmission of its new Hindi General Entertainment Channel Sun Neo.
 
Earnings: 
 
Anand Rathi Wealth (+4.88%): Net Sales was Rs184 crore in Q4FY24 up 29% YoY (Rs143 crore). Net Profit was Rs56.9 crore in Q4FY24 up 33% YoY (Rs42.7 crore)
 
TCS (-1.51%): Net Sales was Rs61,237 crore in Q4FY24 up 4% YoY (Rs59,162 crore). Net Profit was Rs12,502 crore in Q4FY24 up 9% YoY (Rs11,436 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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