By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Indian benchmark indices ended on a flat note in today’s session with six out of twelve sectoral indices settling lower.
Nifty rose marginally by 0.021% or 3.05 points and closed at 14,634.15 points, while S&P BSE Sensex dipped 0.13% or 63.84 points and closed at 48,718.52 points.
Top Nifty gainers included SBI Life (5.43%), Bharti Airtel (4.53%), Adani Ports (4.51%), Tata Steel (3.20%), and Maruti (2.24%). In contrast, top Nifty losers included Titan (4.56%), IndusInd Bank (2.29%), RIL (1.93%), Axis Bank (1.59%), and BPCL (1.34%).
Reliance, Kotak Bank, and Axis Bank were among the top draggers in the lot.
Larsen & Toubro Ltd.
L&T’s stocks rose 0.15% and traded at Rs.1,342.30 and became one of the best performing IT stocks. Looking at the firm’s valuation in the forward multiple FY22, it is trading 30 times higher at present.
Shriram City Union Finance Ltd.
The firm’s stocks surged 8.40% and traded at Rs. 1,523.80 after the firm reported a two-fold rise in its consolidated net profit for the final quarter of FY21. The firm’s consolidated net profit stood at Rs. 298.28 crores.
AU Small Finance Bank Ltd.
The firm’s stocks tripped 7.94% and traded at Rs. 924.60 after a sharp deterioration in the firm’s asset quality. The gross NPA of the firm went up by 48% while slippages skipped approximately 75%.
YES Bank Limited
YES Bank’s stocks dipped 4.12% and traded at Rs. 13.95 after the bank posted a loss of Rs. 3,800 crores for the fourth quarter of FY21, which was three times what was expected.
Kotak Mahindra Bank
Kotak Mahindra’s stocks fell 1.02% and traded at Rs. 1,731.00 despite a consolidated profit of Rs. 2589.00 crores which was 35.9% higher on a YoY basis.
Supreme Industries Ltd.
The firm’s stocks surged 3.63% and traded at Rs. 2,124.05 after the firm reported an increase of 45.7% in its revenue which stood at Rs. 2084.6 crores. The firm’s consolidated net profit stood at Rs. 450.4 crores.
Varun Beverages Ltd.
Varun Beverages reported a consolidated net profit of Rs. 136.7 crore for the quarter ended March 21 following which the firm’s stocks rose 5.62% and traded at Rs. 1,003.95. The company’s revenue was up by 33.6% and stood at Rs. 2270.0 crores.
Godrej Properties Limited
The company reported a net loss of Rs. 191.6 crores while the revenue stood at Rs. 432.6 crores during the fourth quarter of FY21. As a result, the firm’s stocks tripped 3.99% and traded at Rs. 1,313.75.
Indian rupee ended at a day’s high at Rs. 73.93 against the US Dollar amid a volatile session in the domestic equity market.
Global Market Cues
Asian stocks started slowly while European stocks ended in the green. FTSE 100 rose 0.12%, FTSE MIB rose 1.08%, Nikkei 225 fell by 0.83%, and Hang Seng fell by 1.38%.
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