Sensex up 100 pts, Indian stock market news – May25

Indian Market 

FII AND DII 

Indian market news 

1. 1. Market recovery is aided by last-minute purchases; Sensex is up 100 points, and the Nifty is above 18,300.
   2. Amid poor global indications, the Sensex and Nifty begin flat; the spotlight is on LIC of India and Nykaa
   3. Fed policymakers’ support for further rate increases is mixed, according to minutes from the FOMC meeting.
   4. Dollar strengthening despite robust US economy and haven demand as oil prices decline due to worry over US debt
   5. Asian markets are divided today, with the Nikkei up 1% and the Hang Seng down 1%
   6. Wall Street crashes as clouds over the debt ceiling loom
   7. The Indian indexes are off to a bad start, according to SGX Nifty.
   8. JB Chemicals and Pharmaceuticals increases 6% on solid Q4 results.
   9. The shares of Borosil Renewables drops by 3% as Q4 profits plummet.
   10. On the back of robust sequential growth in Q4, Piramal Pharma soars 13.5%.
   11. Prudent Corporate Advisory’s fourth quarter net increased by 81.5% while its sales increased by 36.6%.
   12. After poor Q4 results, Asian Granito India declines by 4%.
   13. Fine Organic Gains on a Powerful Operational Performance in Q4
   14. In Q4, Nykaa’s net profit fell 72% year over year to Rs 2.3 crore.
   15. LIC Q4 profit nearly doubles to Rs 13,428 billion and a dividend is issued.

Indian market Today  

INDIAN MARKET MOVERS 

STOCK IN NEWS

• LIC; For the quarter that ended in March of FY23, Life Insurance Corporation of India reported a standalone net profit of Rs 13,427.8 crore, up 466 percent from the same time the previous year.According to a report on May 24 by the nation’s largest insurer, the standalone net profit for the March FY22 quarter was Rs 2,371.5 crore. Profit increased sequentially by 112 percent.
• Oil India’s standalone profit for the March FY23 quarter was Rs 1,788.3 crore, up 2.4% from the prior quarter and helped by greater other income, but was negatively impacted by sluggish topline growth and subpar operating results.To reach Rs 5,398 crore in Q4FY23, revenue from operations (net of excise tax) increased by 0.4% sequentially. The board proposed a Rs. final dividend.
• FSN E-Commerce Ventures: Despite good topline and operating metrics, the Nykaa operator’s consolidated profit for the quarter ended March FY23 was Rs 2.4 crore, down 71.8 percent from the same time the previous fiscal year. This decline was attributed to a high base in Q4FY22 because of a tax write-back. In comparison to the same quarter in the previous fiscal, operating revenue for the quarter increased by 33.7 percent to Rs 1,302 crore.
• Infosys: As part of its Tech for Good mission, the top IT services company has announced a partnership with Adobe to empower the digital workforce through Infosys Springboard, an online learning platform. By 2025, both organizations want to have hired over 10,000 new Adobe-certified professionals worldwide.
• Garden Reach Shipbuilders & Engineers: The business has agreed to supply the Indian Navy with ten 30 mm Naval Surface Guns (NSG) equipped with electro-optical fire control systems (EOFCS) and ammunition for a total of Rs 248.51 crore. Despite poor operating results, profit for the March FY23 quarter climbed by 17.1% year over year to Rs 55.3 crore, driven by greater other income and topline. Comparing the current period to the previous one, revenue increased by 10.7% to Rs 601.2 crore.
• BL Kashyap and Sons: Indian School of Business has given the civil engineering and construction firm BL Kashyap and Sons a fresh order for Rs. 132 crore. Up to this point, the order book’s total value was Rs 2,650 crore.
• Wipro: The technology services and consulting company has established a collaboration with automated mobility sensor software supplier Spartan Radar to develop cutting-edge automotive solutions through its Engineering Edge business line. The Series B fundraising round for Spartan Radar included investment from Wipro Ventures, a corporate investment unit of Wipro.