Indian Market
FII AND DII
| FII purchased | 2085.62 Cr |
| DII Sold | 438.93 Cr |
Indian market news
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- Sensex drops 406 points and Nifty drops to below 18,550; mid and smallcap stocks shine
- Following a warning from Japan, the dollar declines against the yen; the Australian dollar falls due to data from China.
- In advance of the US debt ceiling vote, oil recovers some of its significant losses.
- Due to insufficient demand, China’s factory activity declines quicker than anticipated.
- The Indian indices have a bad start, according to SGX Nifty.
- Gold is expected to fall each month as the US debt accord reduces demand.
- Nifty Energy, the worst-hit sectors index, down 1%, pulled down by ONGC.
- Vedanta, Adani Enterprises, and Jindal Steel bring down the Nifty Metal index’s 1 percent decline.
- Asia’s stocks experience a monthly loss as disappointing China data
- On May 30, shares are purchased by foreign institutional investors for Rs. 2,085.62 billion.
- Abrdn is poised to sell 1.66% of HDFC Life today in a block sale.
- Gains in share price for Prestige Estates Projects despite a 50% year-over-year decline in Q4 earnings
- The company posts a profit for the third quarter, with revenue rising 17% to Rs 2,491 crore.
- Adani Ports Q4 profit increased by 5% year over year to Rs 1,159 crore, while revenue increased by 40% to Rs 5,797 crore.
- On the back of dismal fourth-quarter profits, Insecticides India falls 6%.
- Following poor March quarter earnings, DB Realty plunges 7%.
- Shares of Lumax Auto fell 4% after Q4 profit fell.
- Strong revenue growth and margin expansion drive 4% growth at Lemon Tree Hotels.
- Following subdued Q4 earnings, Allcargo Logistics falls by 4%.
- Promoters sell their stakes in Kalpataru Power Transmission for Rs. 467.83 billion.
Indian market Today
| SENSEX | -406.36 | -0.65% | 62,562.77 |
| NIFTY50 | -110.35 | -0.59% | 18,523.50 |
| BANK NIFTY | -272.10 | -0.61% | 44,164.25 |
INDIAN MARKET MOVERS
|
TOP GAINERS |
TOP LOOSER |
||
| Bharti Airtel | 39.45 4.82 % | ONGC | -4.05 -2.55% |
| Kotak Mahindra | 70.25 3.56% | Reliance | -56.55 -2.24% |
| Britannia | 94.30 2.06% | SBI | -12.80 -2.16% |
| Sun Pharma | 16.35 1.70% | Axis Bank | -20.25 -2.16% |
| Asian Paints | 50.45 1.60% | HDFC | -53.80 -2.00% |
STOCK IN NEWS
- HDFC Life Insurance Company:Abrdn (Mauritius Holdings) 2006 Limited is reportedly planning to sell all of its 1.66% stake in HDFC Life Insurance Company in block deals in order to exit the life insurance business, according to sources cited by CNBC-TV18. The probable price range for the stake sale is Rs. 563.20 to Rs. 585.15 per share.
- Coal India:The largest coal mining business in the nation, Coal India, announced that the board has authorized the modification of non-coking coal pricing, which will take effect on May 31. The price increase, which will be applied to all Coal India subsidiaries, is 8% over the previously announced prices for high-grade coal in the grades G2 to G10.
- Torrent Pharmaceuticals: Thanks to strong topline and operating performance, the pharmaceutical business posted a consolidated profit of Rs 287 crore for the quarter ended March FY23. Due to a one-time loss of Rs. 485 crore, it suffered a loss of Rs. 118 crore in Q4FY22. The company’s operating revenue for the fourth quarter was Rs 2,491 crore, up 17% from the same time the previous year. India business sales increased by 22% to Rs 1,257 crore, whereas US revenue decreased by 1% to Rs 280 crore YoY.
- Mazagon Dock Shipbuilders: Despite a considerable increase in input costs, the state-owned shipbuilding company achieved a remarkable 105.1% year-over-year improvement in consolidated profit at Rs 326.2 crore for the fourth quarter of FY23, led by strong topline and operating performance.
- Graphite India: Due to a lacklustre performance on both the topline and operational fronts, the manufacturer of graphite electrodes reported a consolidated profit of Rs 29 crore for the fourth quarter of FY23, a 69.5% decrease from the same period last year. Profitability was also affected by lower other income. The operating revenue for the January through March period was Rs 815 crore, a 3.4% decrease from the same time the previous financial year.
- Adani Ports and Special Economic Zone:The major ports and logistics firm, Adani Ports and Special Economic Zone, reported a consolidated profit of Rs. 1,159 crore for the March FY23 quarter. This result was aided by strong operating performance and topline, but was adversely affected by decreased other income and an extraordinary loss of Rs. 1,273 crore. In Q4FY23, operating revenue totaled Rs 5,797 crore, up 40% from the same quarter the previous fiscal.
- Insecticides (India): Compared to a profit of Rs 22.3 crore in the same quarter last year, the agrochemical company reported a consolidated loss of Rs 29.3 crore for the March FY23 quarter. For the fourth quarter of FY23, operating revenue totaled Rs 302 crore, an increase of 8.6% over the corresponding quarter in 2012.
- Astrazeneca Pharma India: The pharmaceutical company reported profit of Rs 17.3 crore for the March quarter FY23, a sharp decline of 38.3% from the corresponding quarter in the prior year, due in part to one-time costs of Rs 40.23 crore for separation costs and voluntary retirement plans.
- GOCL Corporation: Despite outstanding topline growth, the manufacturer of industrial explosives, mining products, specialty oils and chemicals, and pharmaceutical formulations reported a 90.4% year-over-year decline in consolidated profit at Rs 13.8 crore for the March FY23 quarter. This was caused by weak operating performance as a result of higher input costs.
- Royal Orchid Hotels: Due to a high base, Royal Orchid Hotels experienced a dramatic 60.1% year-over-year fall in consolidated profit during the fourth quarter of FY23, although its operating metrics and top line remained respectable. The profit for the fourth quarter of FY22 was boosted by a one-time gain of Rs. 26.75 crore from the sale of a subsidiary and a remeasurement gain from the loss of control over a subsidiary. The quarter’s revenue was Rs 72.5 crore, up 83.5% over the prior quarter.
- Jindal Worldwide: Despite improved operating margin, which was impacted by lower topline, the textile company’s consolidated profit for the quarter ended March FY23 fell by 23.1% year over year to Rs 26.5 crore. The operating revenue for the fourth quarter of FY23 was Rs 549.5 crore, a 24.6% decrease from the same quarter the previous year.
- Lumax Auto Technologies: The producer of automotive components reported a robust topline and operating performance despite a 11.4% year-over-year decline in consolidated profit for the March FY23 quarter, falling to Rs 18.6 crore due to a larger extraordinary loss. Operational revenue for the quarter totaled Rs 493.3 crore, up 18.3% from the same period last year.
- Tega Industries: Driven by strong topline as well as operating performance, Tega, the manufacturer of consumable products for mineral beneficiations and mining equipment, has recorded a tremendous 58% year-on-year gain in consolidated profit at Rs 77.3 crore for the fourth quarter of FY23.
- Indian Metals & Ferro Alloys: The maker of ferro alloys recorded consolidated profit of Rs 64 crore for the March FY23 quarter, a 55% decrease from the equivalent period in the previous fiscal.
- Sona BLW Precision Forgings: According to sources cited by CNBC-TV18, promoter Aureus Investment is set to sell up to 3.25% of the company’s equity, or 950 crore rupees, at a price of 500 rupees per share. Sona BLW’s investment in Aureus Investment was 33% at the end of the March 2023 quarter.