Indian Market
FII AND DII
| FII purchased | 1758.16 Cr |
| DII purchased | 853.57 Cr |
Indian market news
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- Sensex rises 150 points as Nifty closes at 18,650, but commodities drag.
- Indian markets may open flat, with 18696 acting as the next Nifty resistance:
- Asian markets are split; the Nikkei is down and the Hang Seng is up.
- The Indian markets have a flat start, according to SGX Nifty.
- On May 29, FIIs purchased shares for Rs. 1758.16 crore.
- Dollar drops as the US debt ceiling agreement increases risk taking
- Asian equities generally rose as the US debt settlement boosted optimism
- Indices slightly increase; Nifty is about 18,650.
- IRCTC announces final dividend after Q4 net profit increases 30% year over year to Rs 279 crore.
- EID Parry reports a 41% decrease in Q4 FY23 net profit of Rs 178.9 crore.
- Mawana Sugars shares increase 6% as Q4 earnings increase 67%.
- Arvind Fashions Q4 net profit increased by 27% YoY.
- Lux Ind’s Net profit fell by 58% year over year in the fourth quarter.
- V-Guard’s Net profit fell 41% year over year in the fourth quarter.
- Heranba Ind’s quarterly net profit dropped 66% YoY in March.
- Munjal Showa’s net profit increased by 200% year over year in the March quarter.
- 3M India reports a 22.4 percent increase in Q4 net income to Rs 135.7 crore.
- Landmark Cars achieves a 52-week high as Q4 revenue increases by 28% to Rs 24 crore
Indian market Today
| SENSEX | +169.24 | +0.27% | 63,015.62 |
| NIFTY50 | +41.40 | +0.22% | 18,640.05 |
| BANK NIFTY | +147.30 | +0.33% | 44,459.20 |
INDIAN MARKET MOVERS
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TOP GAINERS |
TOP LOOSER |
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| Bajaj Finserv | 16.30 1.12 % | Hindalco | -6.80 -1.62% |
| Kotak Mahindra | 21.50 1.10% | Adani Enterprise | -37.60 -1.48% |
| Bajaj Finance | 73.75 1.06% | Tech Mahindra | -15.65 -1.40% |
| HDFC Life | 6.10 1.05% | Tata Steel | -1.40 -1.29 % |
| HCL Tech | 9.65 0.86% | Sun Pharma | -8.85 -0.91 % |
STOCK IN NEWS
- IRCTC Q4 Results: Final dividend paid; net profit up 30% year over year to Rs 279 crore. IRCTC announced on May 29 that its standalone net profit for the three months ended March 31, 2023, increased by 30.4 percent year over year (YoY) to Rs 279 crore. In the same period last year, the Indian Railways’ tourist and ticketing division reported a net profit of Rs 214 crore. In comparison to the same quarter last fiscal year, the company’s operating revenue climbed 39.6% to Rs 965 crore for the quarter under review.
- Rail Vikas Nigam: Due to decreased topline, the state-owned railway company’s consolidated earnings for the quarter ended March FY23 fell 5% year over year to Rs 359 crore. Compared to the same period of the previous fiscal year, the combined operational revenue fell by 11.1% to Rs 5,720 crore, but the operating profit margin improved as a result of decreased operating costs.
- Torrent Power: Compared to a deficit of Rs. 488 crore a year ago, the power provider reported a consolidated profit of Rs. 449 crore for the quarter ended March FY23. In contrast to Q4FY22’s loss, which was the result of a one-time loss of Rs. 1,300 crore, Q4FY23’s profit was supplemented by solid sales growth. Compared to the same time in the previous year, operating revenue increased by 61.3% to Rs 6,038 crore.
- Sobha: Despite a low operating margin caused by strong topline growth, the real estate firm with headquarters in the south recorded a staggering 242% year-over-year increase in consolidated profit at Rs 48.6 crore for the March FY23 quarter.
- NBCC: Because of strong operating results, the public sector company’s consolidated profit for the fourth quarter of FY23 increased by an astounding 206% year over year, to Rs 108.4 crore. The total revenue from operations for the quarter was Rs 2,790 crore, up 14.3% from the same time last year.
- Indian Railway Catering and Tourism Corporation: The firm, which was boosted by a strong topline, greater other income, and exceptional income, reported a staggering 30.4% year-over-year increase in standalone profit for the March FY23 quarter at Rs 278.8 crore. Comparing the same period of the previous fiscal year, the revenue from operations increased by 40% to Rs 965 crore.
- Jubilant Pharmova: For the quarter that ended in March of FY23, the pharmaceutical business reported a consolidated loss of Rs 97.8 crore compared to a profit of Rs 59.5 crore during the same period last year. Poor operating results with considerable increases in depreciation, inventories, and input costs had an adverse effect on profitability. In comparison to the same time in the previous year, operating revenue increased by 9.7% to Rs 1,661 crore.
- Campus Activewear: Due to decreased topline, subpar operating results, and higher other expenses, the footwear company’s profit for the March FY23 quarter was unchanged at Rs. 22.95 crore compared to the comparable period last year. The quarter’s operating revenue was Rs 347.7 crore, a 1.3% decrease from the same period the previous year.
- ISGEC Heavy Engineering: The engineering firm declared a consolidated profit of Rs 86.13 crore for the fourth quarter of the previous fiscal year 2022–23, an increase of 129% over the equivalent period in the prior fiscal year. Operations revenue for the quarter totaled Rs 2,043 crore, up 28% over the corresponding period in the prior year.
- NHPC: The state-owned hydropower development company reported earnings of Rs 643.4 crore for the fourth quarter of FY23, an increase of 38% over the same period in the previous fiscal year. Compared to the same period last year, revenue for the March FY23 quarter increased by 21.2% to Rs 2,029 crore.
- Techno Electric & Engineering business: Despite poor operating results and limited topline growth, the business has recorded a consolidated profit of Rs 56.8 crore for the March FY23 quarter, up 52.5% from a year ago. This increase was caused by a one-time extraordinary gain. In comparison to the same period last year, operating revenue increased by 2.5% to Rs 313 crore.