Indian Market
FII AND DII
| FII Bought | 970.18 Cr |
| DII sold | 849.96 Cr |
Indian market news
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- The Nifty closes at 18,200, with the Sensex up 298 points; IT companies outperform, while pharma lags.
- Asian markets were largely higher, with the Nikkei and Kospi rising while the Hang Seng fell.
- The SGX Nifty suggests a flat opening for Indian equities.
- The BSE Oil & Gas index falls 1%, led by Adani Total Gas, Indraprastha Gas, and Gail India.
- The Nifty Information Technology Index increased by 1%, led by Infosys, HCL Technologies, and Persistent Systems.
- The BSE Power index fell 1%, led by Adani Transmission, Adani Power, and Adani Green Energy.
- Powell’s hawkish statements may cause gold prices to fall further:
- The Indian rupee began at 82.73, a two-month low.
- PNB’s fourth-quarter net profit was Rs 1,158.6 crore, up from Rs 201.6 crore in the previous year.
- West Coast Papers reported a net profit of Rs 278.2 crore in Q4FY23.
- Arvind Smartspaces’ Q4 net profit fell 33% to Rs 9.3 crore.
- In Q4FY23, Rategain Travel Technologies had a net profit of Rs 33.7 crore.
- Motherson Sumi Wiring India reported a net profit of Rs 138.5 crore in the fourth quarter, up from Rs 46 crore in the previous year.
- NTPC drops ahead of Q4 results; capacity increase and monetisation timelines are under consideration
- Taj GVK Hotels’ net profit for the fourth quarter increased to Rs 14.4 crore.
- LT Foods gains 5% as Q4 net profit increases 79% year on year.
- Suzlon gets a 69+ MW order from a large Nordic Energy Company for the 3 MW series.
- G R Infraprojects’ stock rises 7% as Q4 earnings jumps 41%:
- IndiGo’s net profit for the fourth quarter was Rs 919 crore, with income from operations of Rs 919 crore.
Indian market Today
| SENSEX | -98.25 | -0.16% | 61,462.39 |
| NIFTY50 | -47.25 | -0.26% | 18,134.50 |
| BANK NIFTY | 71.35 | +0.16% | 43,770.05 |
INDIAN MARKET MOVERS
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TOP GAINERS |
TOP LOOSER |
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| Adani Enterprise | 88.90 +4.70% | Divis Labs | -55.20 -1.75% |
| Adani Ports | 28.00 +4.21% | Britannia | -66.65 -1.46% |
| Tata Motors | 15.15 +2.98% | TATA Cons. Prod | -12.60 -1.62% |
| Tech Mahindra | 23.25 +2.22% | Bajaj Auto | -44.40 -0.98% |
| Infosys | 23.25 +1.87 % | Power Grid Corp | -2.30 -0.98% |
STOCK IN NEWS
- SBI; On May 18, the country’s largest public sector lender, State Bank of India (SBI), declared its highest-ever quarterly net profit of Rs 16,694 crore for the March quarter of the fiscal year 2022-23, an 83 percent increase from the previous year. SBI’s gross non-performing assets (GNPA) fell to Rs 90,027 crore in FY23, down from Rs 1.12 lakh crore the previous year.
- ITC Limited announced a 21.4 percent year-on-year increase in standalone net profit for the March quarter of Rs 5,086.9 crore on May 18. In the same time previous year, net profit was Rs 4,190.9 crore. Revenue from operations (excluding excise duty) increased 5.6 percent year on year to Rs 16,398 crore, up from Rs 15,531 crore the previous year.
- InterGlobe Aviation: The operator of low-cost airline IndiGo has reported a profit of Rs 919.2 crore for the fiscal quarter ending March FY23, compared to a loss of Rs 1,681.8 crore in the same time last year, due to solid operating figures and topline growth.
- Bata India: The footwear manufacturer recorded a 4.4% year-on-year increase in standalone profit at Rs 65.5 crore in the March FY23 quarter, owing to poor operating margin performance. In comparison to the same time previous year, revenue from operations increased by 17% to Rs 778.6 crore.
- United Spirits: Despite a negative operating margin performance, the beverage alcohol company’s earnings increased 7.4% year on year to Rs 204 crore for the fiscal quarter ending March FY23. Revenue decreased 0.3% year on year to Rs 2,494 crore.
- PNB Housing financing: The housing financing firm recorded a 64.7% year-on-year increase in profit for the March FY23 quarter, at Rs 279.3 crore, due to decreased impairment on financial instruments and write-offs. When compared to the same quarter previous year, net interest income increased by 26.88% to Rs 627.7 crore.
- Gland Pharma: The pharma company’s earnings fell 72% year on year to Rs 78.7 crore for the fiscal quarter ended March FY23, hurt by weak operational statistics and a weaker topline. Revenue from operations decreased 29% year on year to Rs 785 crore.
- Tata Elxsi: The design-led technology services provider increased profit by 26% year on year to Rs 201.5 crore in the March FY23 quarter, despite lower operating margins, thanks to lower tax costs and greater topline. Revenue from operations increased by 23% to Rs 838 crore in Q4FY23 compared to the previous fiscal period.
- Transport Corporation of India: The supply chain and logistics solutions provider reported a 4.6% year-on-year reduction in consolidated profit at Rs 81.5 crore in the March FY23 quarter, owing to lower operational numbers. Revenue for the quarter climbed by 9% year on year to Rs 979.3 crore.
- Ujjivan Financial Services: The company’s consolidated profit in Q4FY23 increased by 95.4% to Rs 231.7 crore, compared to the same period last year. In comparison to the previous year, consolidated income from operations increased by 45% to Rs 1,231.3 crore.
- G R Infraprojects: Despite a modest topline, the building engineering firm increased its consolidated profit by 40.9% year on year to Rs 390 crore in the March FY23 quarter, supported by good operating performance. Revenue for the quarter climbed by 2.7% year on year to Rs 2,461 crore.