Nifty, Sensex Under Heaving Selling Pressure - Thursday Closing Report
Moneylife Digital Team 09 May 2024
On Thursday, 924 stocks advanced, 2910 declined and 109 remained unchanged, with an advance decline ratio 0.32 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, 73 securities advanced and closed at a new 52-week high whereas 29 securities sank to close at their new 52-week lows.  In sectoral indices, Nifty Energy, Nifty Metal and Nifty Infrastructure were among the biggest losers. Nifty Auto was the only gainer. 
 
Vardhman Textiles (-2.07%) has received approval for the enhancement and modernization of existing Spinning and Fabric Business capacity of the company and also generation of Green Power with a total capital outlay of Rs2,000 crore.
 
Bharti Airtel (-0.82%) has deployed additional sites in Sabarkantha district to densify its network. The network expansion project in Sabarkantha was undertaken across 214 villages covering 2.7 lakh population base. Customers in the tehsils of Idar, Prantij, Talod, Vijaynagar under the Sabarkantha district will directly benefit from this network expansion. 
 
EMS (-5.89%) has emerged as the lowest bidder (L-1) in the tender at UPCL VCVGS Urja Bhawan, Dehradun for Supply, Installation, Testing & Commissioning of Infrastructure Works Loss Reduction on turnkey basis under ‘Revamped Reforms-Linked Results-Based Distribution Sector Scheme, Circle Rural Dehradun’. The estimated order value is around Rs148.11 crore.
 
Zydus Lifesciences (-3.79%) has received final approval from the United States Food and Drug Administration (USFDA) to market Dapsone Gel. Dapsone Gel is used to treat acne and will be manufactured at the group’s topical manufacturing facility at Changodar, Ahmedabad (India).
 
TVS Supply Chain Solutions (+0.12%) has won a new business contract from VE Commercial Vehicles (VECV) for managing their in-Plant warehousing and logistics function at their Eicher bus factory located in Baggad, Madhya Pradesh.
 
NBCC (India) (-3.64%) has been awarded the work orders worth Rs400 crore by the Court Receiver of Supreme Court of India. The company has got Rs250 crore worth contract for Amrapali Vananchal City, Bhilai District, Chhattisgarh, while it got Rs150 crore worth contract for Amrapali Cosmos, Aluva, Ernakulam District, Kerala. The said works are in the normal course of business of the company.
 
Godrej industries (-3.02%) has acquired additional 14% equity stake in Godrej One Premises Management (GOPMPL), subsidiary of the company.
 
NTPC’s (-2.34%) wholly owned subsidiary-- NTPC Green Energy (NGEL) has signed memorandum of understanding (MoU) with Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) for development of Renewable Energy Power Parks and Projects.
 
Happiest Minds Technologies (-1.59%) has signed definitive agreements to acquire 100% Membership interests of USA-based Azure native digital product engineering company Aureus Tech Systems LLC (Aureus).
 
Rail Vikas Nigam (-3.39%) has received Letter of Acceptance (LoA) from SER HQ-Electrical/South Eastern Railway for Design, Supply, Erection, Testing and Commissioning for upgradation of Electric traction system from 1 x 25 KV to 2 x 25 KV traction system for Rajkharsawan -Nayagarh-Bolani section of Chakradharpur division of South Eastern Railway to meet 3000 MT loading target. Cost of work is Rs167.28 crore including applicable taxes. The said contract is expected to be completed in 18 months.
 
Financial services company Citigroup has sold shares of Vodafone Idea (+0.39%) for over Rs233 crore through an open market transaction. US-based Citigroup through its affiliate, Citigroup Global Markets Mauritius, offloaded shares of Vodafone Idea through a block deal on the BSE.
 
Earnings: 
Cams Services (-1.30%): Net Sales was Rs287 crore in Q4FY24 up 21% YoY (Rs237 crore). Net Profit was Rs97 crore in Q4FY24 up 35% YoY (Rs71.6 crore). 
 
Punjab National Bank (-2.48%): Net Sales was Rs28,113 crore in Q4FY24 up 18% YoY (Rs23,849 crore). Net Profit was Rs3010 crore in Q4FY24 up 160% YoY (Rs1,159 crore).
 
Venus Pipes (-2.95%): Net Sales was Rs224 crore in Q4FY24 up 27% YoY (Rs176 crore). Net Profit was Rs25.0 crore in Q4FY24 up 86% YoY (Rs13.4 crore).
 
Capri Global (-5.19%): Net Sales was Rs649 crore in Q4FY24 up 43% YoY (Rs455 crore). Net Profit was Rs82.6 crore in Q4FY24 up 27% YoY (Rs64.9 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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