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Business News/ Markets / Live Blog/  Market Close Highlights: Sensex ends down 600pts, Nifty at 22,420; Consumer Durables, IT gain, FS, Bank down
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Market Close Highlights: Sensex ends down 600pts, Nifty at 22,420; Consumer Durables, IT gain, FS, Bank down

Market Close Highlights : Foreign institutional investors (FIIs) net sold 2,823.33 crore shares, while domestic institutional investors (DIIs) pumped in 6,167.56 crore on April 25, provisional data from the NSE showed.

Market Close Highlights : Companies reporting results on April 26 include Maruti Suzuki India, HCL Technologies, Aditya Birla Sun Life AMC, Bajaj Finserv, SBI Life Insurance Company, Shriram Finance, Bajaj Holdings & Investment, CSB Bank, Eveready Industries India, Force Motors, Indiabulls Real Estate, Bank of Maharashtra, Mastek, Motilal Oswal Financial Services, and SBI Cards and Payment Services will release March quarter earnings on April 26. (Image: Pixabay)Premium
Market Close Highlights : Companies reporting results on April 26 include Maruti Suzuki India, HCL Technologies, Aditya Birla Sun Life AMC, Bajaj Finserv, SBI Life Insurance Company, Shriram Finance, Bajaj Holdings & Investment, CSB Bank, Eveready Industries India, Force Motors, Indiabulls Real Estate, Bank of Maharashtra, Mastek, Motilal Oswal Financial Services, and SBI Cards and Payment Services will release March quarter earnings on April 26. (Image: Pixabay)

Market Close Highlights : European stocks gained along with US equity futures following blockbuster earnings from Microsoft Corp. and Alphabet Inc. The yen weakened to a 34-year low after the Bank of Japan kept its key interest rate unchanged.

The Stoxx Europe 600 climbed 0.5%, heading for its first weekly advance in four, with the technology sector among the leading gainers. Miners rose as copper hit $10,000 a ton for the first time in two years, though Anglo American Plc underperformed after rejecting BHP Group’s $39 billion takeover proposal.

Contracts for the S&P 500 and Nasdaq 100 signaled the underlying gauges are set to rebound from Thursday’s losses. That’s after Alphabet crushed sales estimates and announced a dividend. Fellow megacap Microsoft also beat forecasts, lifted by corporate demand for the software maker’s cloud and artificial-intelligence offerings.

About 79% of S&P 500 firms that have reported so far have beaten analysts’ earnings estimates, according to JPMorgan Chase & Co. strategists. Still, stock price reactions have been underwhelming, with better-than-expected results seeing below average upside, while those missing estimates are being penalized by more than usual, the strategists wrote.

While earnings continue to roll in, the focus Friday will also be on US data, with the Federal Reserve’s preferred measure of inflation of particular interest. Treasury yields dipped following yesterday’s losses when economic data pushed back expectations for policy easing. A gauge of the dollar was steady.

The strong earnings news from the US supported gains on Friday for some of Asia’s tech titans, including Samsung Electronics Co., Taiwan Semiconductor Manufacturing Co. and Tencent Holdings Ltd. Equity benchmarks in Japan, South Korea, Taiwan and China all advanced.

In Japan, the yen reversed initial gains to fall to 156 per dollar, the lowest level since 1990, following the BOJ decision. The central bank Friday kept the range for its benchmark rate between 0% and 0.1%, according to a statement, as widely expected by economists.

US core PCE price index data published Thursday advanced at a faster-than-expected 3.7% clip. The print combined with a US gross domestic product data that trailed all forecasts to rekindle the specter of stagflation. The Fed’s preferred inflation measure, the core PCE deflator, is due later Friday.

Elsewhere, gold edged higher Friday even as the precious metal headed for a weekly loss. West Texas Intermediate rose to the highest level in more than a week, on pace for a weekly advance.

26 Apr 2024, 03:42:14 PM IST

Sensex Today Live : Closing Bell Wrap

Sensex Today Live : India's benchmark indices felt the heat of a raft of weak earnings reports by banks and non-banking finance companies, coupled with regulatory and security challenges dragging down their stocks, with both Sensex and Nifty breaking their five day's of winning streak to close deep in the red on Friday.

Sensex, which had opened higher at 74,509.31, dropped to a low of 73,616.65 during the day. At close, Sensex was down 609.28 points, or 0.82%, at 73,730.16.

Meanwhile, Nifty, which had also opened higher at 22,620.40, touched a low of 22,419.90 in intraday trades. At close, Nifty was down 150.40 points, or 0.67%, at 22,419.05.

Only seven stocks, Tech Mahindra, Wipro, Axis Bank, UltraTech Cement, ITC, Titan, and Tata Motors, out of the 30 on the BSE Sensex ended the day in the green, while Bajaj Finance, Bajaj Finserv, IndusInd Bank, Nestle India, and Mahindra & Mahindra, were the top drags for the day.

On the Nifty 50, 17 stocks ended in the green. Tech Mahindra, Divi's Laboratories, LTIMindtree, Bajaj Auto, and BPCL, were the top gainers for the day, while Bajaj Finance, Bajaj Finserv, IndusInd Bank, Nestle India, and SBI Life, were the top drags.

The broader market had shrugged off the dismal performance of the benchmark indices and closed in the green, with the BSE MidCap index gaining 0.83%, and the BSE SmallCap index gaining 0.27%.

Separately, the Financial Services and Bank indices were the biggest losers of the day, closing down 0.89% and 0.61%, respectively, while the Auto and Metal indices also closed down 0.28% and 0.21%, respectively.

That apart, the Consumer Durables index had gained the most at 1.72%, followed by the Media index, which closed up 1.18%. The IT, Pharma, Healthcare, Realty and Oil & Gas indices also ended the day in the green.

26 Apr 2024, 03:16:30 PM IST

Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : The Financial Services and Bank indices were the biggest losers of the day; they were 1.03% and 0.76% down, respectively, while the Auto and Metal indices were also down 0.32% and 0.26%, respectively.

That apart, the Consumer Durables index had gained the most at 1.72%, followed by the Media index, which was up 1.20%. IT, Pharma, Healthcare, Realty and Oil & Gas indices were also in the gree.

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26 Apr 2024, 03:11:03 PM IST

Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market had shrugged off the dismal performance of the benchmark indices and was trading in the green, with the BSE MidCap index gaining 0.73%, and the BSE SmallCap index gaining 0.26%. 

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26 Apr 2024, 03:09:02 PM IST

Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : 15 of the 50 stocks on the Nifty 50 were in the green. Tech Mahindra, Divi's Laboratories, LTIMindtree, Bajaj Auto, and Coal India, were the top gainers, while Bajaj Finance, Bajaj Finserv, IndusInd Bank, Nestle India, and Mahindra & Mahindra, were the top drags. 

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26 Apr 2024, 03:06:34 PM IST

Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : Only six stocks, Tech Mahindra, Wipro, ITC, Titan, Axis Bank, and UltraTech Cement, out of the 30 stocks on the BSE Sensex were in the green, while Bajaj Finance, Bajaj Finserv, IndusInd Bank, Nestle India, and Mahindra & Mahindra, were the top drags. 

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26 Apr 2024, 03:01:46 PM IST

Sensex Today Live : 3 pm market update

Sensex Today Live : Indian benchmark indices were deep in the red on Friday.

At 3 pm, Sensex was down 549.32 points, or 0.74%, at 73,790.12, and Nifty was down 126.80 points, or 0.56%, at 22,443.55.

26 Apr 2024, 02:56:50 PM IST

Sensex Today Live : Bata India to sell 11.54 acres land in Faridabad for ₹156 crore

Sensex Today Live : Bata India announced today that its board has given its in-principal approval to sell its 11.54 acres freehold land in Faridabad for a consideration of 156 crore.

In an exchange filing, the company said, "We now write to inform you that the Board of Directors of the Company has today, i.e., on April 26, 2024, approved the sale of the Faridabad Land in favour of Amolik Buildcon LLP (an unrelated party), for a consideration of Rs. 156 crores".

26 Apr 2024, 02:46:05 PM IST

Sensex Today Live : Shriram finance Q4 PAT jumps 48% YoY to ₹1,945 crore; shares down

Sensex Today Live : Q4 Profit after Tax: 1,945.87 crore vs. 1,818.33 in Q3FY24 and 1,308.31 crore in Q4FY23

FY24 Profit after tax: 7,190.48 crore vs. 5,979.34 crore in FY23

Q4FY24 Revenue from Operations: 9,483.71 crore vs 8,922.39 crore in Q3FY24 and 7,756.33 crore in Q4FY23

FY24 Revenue at 34,964.41 crore vs. 29,772.16 crore in FY23

26 Apr 2024, 02:26:59 PM IST

Sensex Today Live : Bajaj Finserv net profit up 20% YoY; shares down more than 3%

Sensex Today Live : Consolidated PAT at 2,119 crore vs 1,769 crore, up 20% YoY

Revenue at 32,041 crore vs 23625 crore, up 36% YoY

26 Apr 2024, 02:10:47 PM IST

Sensex Today Live : Anand Rathi investment Service gives technical forecast for Container Corp of India

Sensex Today Live : Container Corp of India CMP : 1,040

Target: 1,400

Upside : 34.6%

Previously during the month of MARCH 2024, we recommended CONCOR around 850 for 1000 mark.

The stock has met this level and now cleared the lifetime high.

We are witnessing a fresh range breakout in the stock and that too with decent volumes.

Thus, we advise traders to go long in the stock in the range of 1,040 – 1,020 with a stop loss of 800 for the upside target of 1400 in 6 – 9 months.

26 Apr 2024, 02:01:45 PM IST

Sensex Today Live : 2 pm market update

Sensex Today Live : Indian benchmark indices were deep in the red on Friday.

At 2 pm, Sensex was down 484.01 points, or 0.65%, at 73,855.43, and Nifty was down 138.95 points, or 0.62%, at 22,431.40.

26 Apr 2024, 01:47:48 PM IST

Sensex Today Live : Zydus Lifesciences receives final approval from USFDA for acne ointment Tretinoin

Sensex Today Live : Zydus Lifesciences today announced that it has received final approval from the United States Food and Drug Administration (USFDA) to market Tretinoin Cream USP, 0.1%. Tretinoin cream, used to treat acne, will be manufactured at the group’s topical manufacturing facility at Changodar, Ahmedabad (India), the company said in an exchange filing.

26 Apr 2024, 01:26:22 PM IST

Sensex Today Live : Anand Rathi Research upgrades LTIMindtree to 'BUY' on the back of better visibility of growth in Q1FY25

Sensex Today Live : LTIM had a weak Q4, with a 1.3% sequential decline in revenue. This was due to lack of pass-through of revenue (largely manufacturing) and cancellation of two BSFI projects in Q4 (an 80bp impact). Management sees revenue growth turning positive in Q1, incl. in BFSI. The $1.4bn TCV (net of cancellations) was up just 3% y/y, slower than expected after a strong first-nine months. Book-to-bill was 1.3x (LTM average 1.3x, Q4 FY23 1.3x), offering hope of better FY25 growth.

Barring BFSI and manufacturing for the above reasons, all other verticals grew. Hi-Tech and Healthcare were up 5% q/q each, while consumer was up 1%. The Q4 EBIT margin fell 65bps q/q to 14.7%, absorbing the impact of cancelled deals. The 17-18% EBIT margin aspiration is unchanged, but like PSYS, LTIM would reach there later. We cut estimates ~5% (margins driven) and TP ~8% to 6,000 ( 6,440 earlier), 29x FY26e. We upgrade our rating to a Buy, given expectations of better growth from Q1

26 Apr 2024, 01:03:09 PM IST

Sensex Today Live : 1 pm market update

Sensex Today Live : Indian benchmark indices were trading in the red on Friday.

At 1 pm, Sensex was down 204.25 points, or 0.27%, at 74,135.25, and Nifty was down 70.95 points, or 0.31%, at 22,499.40.

26 Apr 2024, 12:59:39 PM IST

Sensex Today Live : Paisalo Digital PAT jumps 85% YoY in Q4FY24; under pressure

Sensex Today Live : Total revenue from operations: 181.85 crores in Q4FY24, up nearly 75% YoY from 104.07 in Q4FY23

PBT: 48.01 crores in Q4FY24, up 55% from 30.83 crores in Q4FY23

PAT: 35.89 crore in Q4FY24, up 85.5% from 19.34 crore in Q4FY23

FY24 PAT: 177.02 crore, up 93.06% from 91.69 crore in Q4FY24

26 Apr 2024, 12:37:08 PM IST

Sensex Today Live : Pritesh Thakkar, Research Analyst - Institutional Equities at Prabhudas Lilladher, recommends to 'HOLD' Tech Mahindra

Sensex Today Live : Tech Mahindra Rating: HOLD | CMP: Rs1,190 | TP:Rs1,135

Given the demand within communications (~36% of rev) remained weak and unstable, we believe the company’s laid out strategy to drive balanced portfolio mix with reduced dependency on communications is a positive. However, the cyclicality of its portfolio business and weakness across its BUs seem to be challenging, hence we would wait for early sign of recovery before we turn positive on the name.

We are building in revenue growth of 1.8% and 6.0% YoY CC with margin improvement (adjusted) of 70bps and 300bps for FY25e and FY26e, respectively. The stock is currently trading at 20x FY26e, we are assigning P/E of 19x to FY26e with a target price of 1,135. With that we assume coverage on TechM with a “HOLD" rating.

26 Apr 2024, 12:22:29 PM IST

Sensex Today Live : Anand Rathi Research retains 'BUY' rating on Bajaj Finance

Sensex Today Live : Driven by strong, 34% y/y, AUM growth, Bajaj Finance’s Q4 FY24 net profit rose 21% y/y to 3,820 crore (as expected). Despite pricey valuations, we retain a Buy on best-in-class execution skills, robust customer franchisees and strong tech architecture. At our 12-mth unchanged TP of 8,630, the stock would trade at 4.7x FY26e BV and 24x FY26e EPS.

26 Apr 2024, 12:12:36 PM IST

Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : Barring Bank and Financial Services, all other sectoral indices were trading in the green. Among heavyweights, the Consumer Durables index had gained the most; it was up 1.60%, followed by the IT index, which was up 1.5%.

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26 Apr 2024, 12:09:49 PM IST

Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market was in the green, with the BSE MidCap index gaining 0.79%, and the BSE SmallCap index gaining 0.66%.

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26 Apr 2024, 12:08:32 PM IST

Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : Almost half of the 50 stocks on the Nifty 50 were in the red. Twin NBFCs Bajaj Finance and Bajaj Finserv, Shriram Finance, Nestle India, and IndusInd Bank, were the top drags on the benchmark index, while Tech Mahindra, LTIMindtree, Divi's Laboratories, Wipro, and Bajaj Auto, were the top gainers.  

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26 Apr 2024, 12:05:35 PM IST

Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : Half of the 30 stocks on the Sensex were in the red. Bajaj Finance, Bajaj Finserv, Nestle India, IndusInd Bank, and Kotak Mahindra Bank were the top drags, while Tech Mahindra, Wipro, HCLTech, Power Grid Corp., and Hindustan Unilever, were the top gainers. 

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26 Apr 2024, 12:02:38 PM IST

Sensex Today Live : 12 pm market update

Sensex Today Live : Indian benchmark indices were trading in the red on Friday.

At 12 pm, Sensex was down 216.75 points, or 0.29%, at 74,122.69, and Nifty was down 47.65 points, or 0.21%, at 22,522.70.

26 Apr 2024, 11:53:05 AM IST

Sensex Today Live : Prabhudas Lilladher retains 'BUY' rating on IndusInd Bank, says liability growth and profile key monitorables

Sensex Today Live : IndusInd Bank Rating: BUY | CMP: 1,496 | TP: 1,800

IIB saw a stable quarter as core PPoP was largely in-line. Higher fees and lower opex were offset by softer NIM at 4.69% (PLe 4.83%). NIM decline QoQ was led by higher funding cost attributable to dearer external borrowings that replaced a bulky deposit outflow. Hence LCR reverted back to adequate level of 118%. Full year NIM improved by 14bps YoY to 4.5% as share of higher yielding retail+SME increased by 257bps to 60.9% over FY23 to FY24.

Given that the bank would not like to surpass an LDR of 90%, deposit accretion should scale up to 17% YoY (14.5% over FY22-24) as per our estimates, to fund loan CAGR of 16% over FY24-26E.

Hence LDR at 89.2% could reduce by 160bps. IIB again utilized 300 crore in Q4’24 although it aspires to maintain additional 2% on MFI and 0.5% on MHCV, translating to ~ 1,000 crore. Contingent provisions stood at 1,000 crore or 29bps. Maintaining multiple at 1.8x on Mar’26 ABV, we slightly increase TP to 1,800 from 1740. Retain BUY.

26 Apr 2024, 11:43:56 AM IST

Sensex Today Live : Prabhudas Lilladher retains 'BUY' rating on DCB Bank after Q4 results, says balance sheet and income profile improving

Sensex Today Live : Rating: BUY | CMP: 136 | TP: 180

DCBB saw a strong quarter with beat on all fronts. Core PPoP was higher to PLe by 12.8% led by better NII and fees while GNPA too declined by 20bps QoQ to 3.2% driven by reduction in slippages. Reported NIM, that had fallen sharply by 21bps QoQ in Q3’24 to 3.48%, normalized to 3.62% due to better loan mix, collection efficiency, liquidity management and repricing of loans. Fee income profile too has improved YoY in FY24 with PSLC income being substituted by core fees.

While guidance to double balance sheet over 3-4 years has been maintained, deposit accretion would outpace loan growth; we are factoring a 17/18% CAGR in loans/deposits over FY24-26E.

Asset-liability management has been efficient with LCR at 125% and LDR at 83% indicating no challenges to grow. While we maintain multiple at 1.0x, as we roll forward to Mar’26, our TP increases to 180 from 160. Retain ‘BUY’.

26 Apr 2024, 11:37:06 AM IST

Sensex Today Live : Tanla Platforms posts adjusted PAT of ₹136.1 crore, up 10% YoY; shares under pressure

Sensex Today Live : Revenue increased by 20.6% year-over-year to 1,005.5 crore

Gross profit at 268.6 crore. Gross margin at 26.7%

Adjusted EBITDA at 187.7 crore. Adjusted EBITDA margin at 18.7%. Reported EBITDA at 160.4 crore

Adjusted Profit after tax increased by 10.4% year-over-year to 136.1 crore. Adjusted Profit after tax margin at 13.5%. Reported PAT at 130.2 crore

26 Apr 2024, 11:17:25 AM IST

Sensex Today Live : KPI Green Energy shares down 5%, hit lower circuit even after posting 35% higher Q4 net profit

Sensex Today Live : On Thursday, April 25, KPI Green Energy reported a significant increase of nearly 36% in its consolidated net profit for the March quarter, amounting to 43.04 crore, primarily due to higher revenues. The company's consolidated net profit for the same period last year was 31.77 crore, as stated in a BSE filing.

The total revenue of the company rose to 292.96 crore during the quarter, up from 184.41 crore a year ago. The consolidated net profit for the entire FY24 also saw an increase, reaching 161.65 crore from 109.62 crore in the previous year.

The board has proposed a final dividend of 2%, which translates to Re 0.20 per equity share with a face value of 10 each for the financial year 2023-24. This is subject to the approval of the shareholders at the company's forthcoming annual general meeting.

26 Apr 2024, 11:13:41 AM IST

Sensex Today Live : Som Distilleries posts 26% jump in Q4 net profit; shares under pressure

Sensex Today Live : For the quarter ending in March FY24, Som Distilleries and Breweries announced a consolidated net profit of 20 crore. This represents a nearly 26% increase compared to the same period last year.

The company's operational revenue for the quarter saw a year-on-year growth of 51%, reaching 381.6 crore.

26 Apr 2024, 11:02:00 AM IST

Sensex Today Live : 11 am market update

Sensex Today Live : Indian benchmark indices were trading in the red on Friday.

At 11 am, Sensex was down 113.22 points, or 0.15%, at 74,226.22, and Nifty was down 22.40 points, or 0.1%, at 22,547.95.

26 Apr 2024, 10:42:29 AM IST

Sensex Today Live : Zensar Technologies shares jump nearly 10% after company posts 45% increase in Q4 profit

Sensex Today Live : For the January-March FY24 quarter, Zensar Technologies reported a consolidated net profit of 173.3 crore, marking a 45.4% increase from the same period in the previous fiscal year. This growth was achieved despite a subdued topline, and was primarily driven by other income and operating margin. The company's operational revenue saw a year-on-year growth of 1.4%, amounting to 1,229.7 crore for the quarter.

26 Apr 2024, 10:28:06 AM IST

Sensex Today Live : Sandur Manganese & Iron Ores enters into share purchase agreement with Arjas Steel to acquire 80% stake in the company

Sensex Today Live : Sandur Manganese & Iron Ores today said it has entered into a share purchase agreement with Arjas Steel to acquire 80% stake in the company at an enterprise value of around 3,000 crore.

In an exchange filing, the company said, "the Board of Directors... considered and approved strategic business acquisition through purchase of 80% equity share capital of Arjas Steel Private Limited (ASPL), by entering into a Share Purchase Agreement. Accordingly, the Company has entered into the Share Purchase Agreement. Additionally, 19.12% (approx.) stake in Arjas Steel Private Limited will be acquired by BAG Holdings Private Limited (an entity owned by Mr. Bahirji A. Ghorpade, one of the promoters of The Sandur Manganese & Iron Ores Limited)".

The company added, “Enterprise value of ASPL is ~ Rs.3,000 crore. To acquire an 80% equity stake in ASPL, equity value will be decided basis customary and agreed adjustments to the enterprise value at the closing date".

26 Apr 2024, 10:11:49 AM IST

Sensex Today Live : Mphasis posts ₹393 crore net profit in Q4FY24, down nearly 3% YoY; shares jump 5.5%

Sensex Today Live : Net profit: 393.22 crore in Q4FY24, vs. 373.6 crore in Q3FY24, up 5.25% QoQ, and 405.31 crore in Q4FY23, down nearly 3% YoY

26 Apr 2024, 10:01:56 AM IST

Sensex Today Live : 10 am market update

Sensex Today Live : Indian benchmark indices were muted but green on Friday, led by positive cues from global peers.

At 10 am, Sensex was up 27.24 points, or 0.04%, at 74,366.68, and Nifty was up 11.50 points, or 0.05%, at 22,581.85.

26 Apr 2024, 09:52:50 AM IST

Sensex Today Live : L&T Technology Services shares down more than 7% after company posts marginal rise in Q4 net profit

Sensex Today Live : L&T Technology Services (LTTS) announced on Thursday a slight increase of 0.2% in its net profit for the March quarter, amounting to 340 crore, attributed to slower revenue growth and contracting margins. The company disclosed plans to augment its workforce by 500 employees during the April-June period.

The net profit of the engineering services company for FY24 witnessed a growth of 7.6%, reaching 1,303.7 crore. In the reported quarter, its revenue saw a 7% increase to 2,537.5 crore, marking a 5% growth compared to the previous quarter. Amit Chadha, LTTS Managing Director and Chief Executive, stated that the revenues in the corresponding period of the previous year were higher due to the profits derived from the acquisition of the company, Smart World. Regarding the margin, he indicated a "slightly muted" figure in the near future as the company intensifies investments in areas deemed crucial for its future.

He mentioned that the company has previously reported an operating profit margin of 17-18%, but this figure may decrease due to investments. For the quarter under review, the operating profit margin was recorded at 16.9%, compared to 17.9% in the same period of the previous year and 17.2% in the preceding quarter.

26 Apr 2024, 09:48:30 AM IST

Sensex Today Live : Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher, gives technical forecast for Bank Nifty for today

Sensex Today Live : “BankNifty also indicated a big bullish candle on the daily chart, breaching above the hurdle of the 48,300 zone, improving the bias, and anticipating a further upward move to targets of 49,000 and 49,400 levels in the coming days. Bankex has closed above the 54,770 level, which is acting as a resistance, and the 20 DMA level of 54,130 is good support for Bankex. Banknifty would have a daily range of 48,000–49,000 levels, with Bankex support at 54,400 and resistance at 55,500 levels."

--Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher

26 Apr 2024, 09:46:51 AM IST

Sensex Today Live : Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher, gives technical forecast for Nifty for today

Sensex Today Live : "Nifty, after opening on a weak note, surged significantly to close on a strong note above the 22550 zone, forming a “bullish engulfing" candle formation to signify strength and anticipate further rises in the coming days. With the bias maintained strong, the index is expected to retest the previous peak zone of 22775 levels, with major support maintained near 22150 levels of the important 50EMA zone. Sensex has given a range breakout and almost reached 78.6% retracement from the recent fall. A dip towards the 20 DMA level of 73770 will be a good buying opportunity for the day. The support for the day is seen at 73800/22400 levels, while the resistance is seen at 74800/22700 levels."

--Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher

26 Apr 2024, 09:45:03 AM IST

Sensex Today Live : Adani Group company ACC's shares down more tha 1%, even after company posted a 216% jump in Q4 net profit

Sensex Today Live : ACC announced a significant 216% increase in its standalone net profit for the fourth quarter of FY24, reaching 748.54 crore, a substantial rise from 236.57 crore during the same period the previous year.

The company's operational revenue for Q4FY24 also saw an increase, growing by 12.67% to 5,398.11 crore from 4,790.77 crore on a year-on-year basis. ACC's consolidated sales volume for the quarter also improved, rising to 10.4 million tonnes from 8.5 million tonnes in the corresponding quarter of the previous year. For FY24, the sales volumes escalated to 36.9 million tonnes from 30.7 million tonnes.

The operating performance of the Adani Group company witnessed an enhancement during the quarter. Its EBITDA surged by 79.5% to 837 crore from 467 crore, while the EBITDA margin expanded by 570 basis points to 15.5% from 9.8% on a year-on-year basis.

The Board of Directors of ACC has proposed a dividend of 7.50 per fully paid-up equity share with Friday, 14 June as the record rate.

26 Apr 2024, 09:38:07 AM IST

Sensex Today Live : Vedanta shares were up more than 3% even after company's Q4 YoY net profit declined 27%

Sensex Today Live : The company experienced a significant drop in profits for the March quarter compared to the previous year. This decrease was attributed to lower commodity prices, increased borrowing costs, and certain exceptional charges. The company's profit, which amounted to 1,369 crore, was down by 27% compared to the previous year. The lower prices of metals such as aluminium and zinc during the quarter led to a 6% YoY decrease in the company's top line, which stood at 34,937 crore. The company's EBITDA also saw a similar decrease, amounting to 8,196 crore. The EBITDA margin remained relatively stable at 23.5%, dipping by just 6 basis points compared to the same period last year. Vedanta's borrowing cost for the quarter was 2,415 crore, a 34% increase that negatively impacted its bottom line. This increase occurred after the company's net debt rose to 56,338 crore as of 31 March, up from 45,260 crore a year ago. However, Vedanta managed to reduce its net debt by 6,155 crore during the January-March quarter, despite its

26 Apr 2024, 09:35:01 AM IST

Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : Barring Financial Services, and Realty indices, all other sectoral indices were in the green. The IT, Metal and Consumer Durables indices had gained the most, all three trading more than 1% up.

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26 Apr 2024, 09:32:28 AM IST

Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market was in the green, with the BSE MidCap index up 0.59%, and the BSE SmallCap index up 0.55%. 

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26 Apr 2024, 09:31:17 AM IST

Sensex Today Live : Bajaj Finance shares dive more than 5% even after company posted 21% rise in profit after tax

Sensex Today Live : On April 25, Bajaj Finance, the leading non-banking lender in India, announced a 21% increase in its consolidated after-tax profit for the fourth quarter of FY 2023-24, amounting to 3,825 crore, up from 3,158 crore in the same period last year. The consolidated figures encompass the operations of its subsidiaries, Bajaj Housing Finance and Bajaj Financial Securities.

On an individual basis, the net interest income for Q4FY24 surged by 29% to 7,340 crore from 5,669 crore in Q4FY23. The net total income on a standalone basis for Q4FY24 increased by 25% to 8,904 crore from 7,105 crore in Q4FY23.

As of March 31, 2024, the gross non-performing assets (NPA) were reported at 0.85%, a decrease from 0.94% in the same period last year. The net NPA remained steady at 0.37% as on March 31, compared to the same period a year ago. The company maintains a provision coverage ratio of 57%

26 Apr 2024, 09:28:57 AM IST

Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : 15 of the 50 stocks on the Nifty 50 were in the red. Bajaj Finance, Bajaj Finserv, Tata Consumer Products, Mahindra & Mahindra, and Eicher Motors, were the top drags, while Tech Mahindra, Divi's Laboratories, LTIMindtree, Hindalco, and Tata Steel, were the top gainers.  

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26 Apr 2024, 09:22:06 AM IST

Sensex Today Live : Tech Mahindra shares climb nearly 10% even as company posts 41% drop in Q4 net profit

Sensex Today Live : On Thursday, April 25, Tech Mahindra reported a 41% drop in its consolidated net profit in Q4FY24, which stood at 661 crore. The company's revenue from operations also fell 6.2% to 12,871.3 crore in the fourth quarter compared to the previous year. In comparison to 1,117.7 crore in the corresponding period last year, Tech Mahindra's net profit for the March quarter plummeted by 41%. The company's revenue also experienced a 6.3% decrease in the fourth quarter, amounting to 13,718 crore compared to the same period last year. For FY24, the consolidated net profit decreased 51.2% YoY, amounting to 2,358 crore. The company's revenue for FY24 was 51,996 crore, marking a 2.4% decline from the previous fiscal year. The board of the company proposed a final dividend of 560%, which equates to 28 per equity share with a face value of 5 each.

26 Apr 2024, 09:20:34 AM IST

Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : Seven of the 30 stocks on the Sensex were in the red. Bajaj Finance, Bajaj Finserv, Kotak Mahindra Bank, ICICI Bank, and SBI were the top drags, while Tech Mahindra, Tata Steel, ITC, HDFC Bank, and Wipro, were the top gainers. 

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26 Apr 2024, 09:17:16 AM IST

Sensex Today Live : Opening Bell

Sensex Today Live : Indian benchmark indices opened in the green on Friday, led by positive cues from global peers.

At opening bell, Sensex was up 48.77 points, or 0.07%, at 74,388.21 and Nifty was up 15.10 points, or 0.07%, at 22,585.45.

26 Apr 2024, 09:13:02 AM IST

Sensex Today Live : Prashanth Tapse, Senior VP (Research), Mehta Equities, says markets are likley to log early gains on Friday

"Markets are likely to shrug off overnight weakness in US gauges and log gains in early Friday trades amid optimism in other Asian indices. However, investors would be wary of the US 10-year Treasury note yield rising above 4.7%, the highest since early November. Traders have scaled back their expectations regarding the timing of a Fed rate reduction, now completely factoring in the first cut by December. Also, FII selling has gathered pace as uncertainty over rate cut and stubborn inflation is prompting overseas funds to offload their holdings in emerging equities, including India. With regards to benchmark Nifty, traders can buy between 22350-22375 zones with a stop at 21921, while aggressive targets are seen at 22901-23000 level."

--Sensex Today Live : Prashanth Tapse, Senior VP (Research), Mehta Equities

26 Apr 2024, 09:11:07 AM IST

Sensex Today Live : Benchmark indices green at pre-open

Sensex Today Live : Indian benchmark indices were green at pre-open on Friday, led by positive cues from global peers.

Sensex was up 169.87 points, or 0.23%, at 74,509.31 and Nifty was up 50.05 points, or 0.22%, at 22,620.40 during pre-open.

26 Apr 2024, 09:04:56 AM IST

Sensex Today Live : Stocks to watch today

Sensex Today Live : Tech Mahindra, HCLTech, Indigo, Tata Steel, ICICI Bank, Vedanta, are a few stocks likely to be in focus on Friday, April 26.

26 Apr 2024, 08:59:18 AM IST

Sensex Today Live : What to expect from Indian stock market in trade on April 26

Sensex Today Live : The Indian stock market indices, Sensex and Nifty 50, are projected to commence Friday's trading session on a high note, buoyed by favorable global market indicators. The Gift Nifty trends also suggest a promising start for the Indian benchmark index, trading around the 22,694.50 level, a premium of 49.15 points from the previous close of Nifty futures.

On Thursday, the domestic equity indices marked their fifth consecutive session of gains on the monthly F&O expiry day, with the Nifty closing above the 22,500 level. The Sensex surged by 486.50 points, or 0.66%, to conclude at 74,339.44, while the Nifty 50 rose by 167.95 points, or 0.75%, to settle at 22,570.35.

The Nifty 50 charted a long bull candle on the daily chart, surpassing the significant overhead resistance of the opening downside gap of April 15th around 22,500 levels and closed higher.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, stated, "This is a positive sign and is anticipated to lead to further market gains. A positive chart pattern like higher tops and bottoms is expected. With the Nifty forming a new higher bottom last week at 21,777, it is projected to ascend from here to form a new higher top of the pattern around 22,800 levels." (Read the full story here.)

26 Apr 2024, 08:51:34 AM IST

Sensex Today Live : Seven key things that changed for market overnight - Gift Nifty, US GDP to Alphabet stock soars

Sensex Today Live : The domestic stock market indices, Sensex and Nifty 50, are anticipated to kick off Friday on a positive note, with GIFT Nifty rising over 24 points from Thursday's close on Nifty Futures, amidst mixed global indicators.

Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, commented, "On the monthly F&O expiry day, investors made more optimistic wagers, leading to a rally in benchmark indices for the fifth consecutive session, driven by gains in leading banking and metal stocks. Despite the decline in other Asian and European indices and a sharp drop in US Dow Futures, local investors remained undeterred. While outflows from FIIs have been a concern, India's robust growth prospects and the expectation of a majority victory for the incumbent party in the upcoming elections have attracted many domestic investors to equities." (Read the full story here.)

26 Apr 2024, 08:45:27 AM IST

Sensex Today Live : Gift Nifty, global peers up, indicating strong open for Indian markets

Sensex Today Live : The Indian markets were headed for a positive open after global peers were boosted on the back of robuts results from technology companies.

The Gifty Nifty futures was trading at 22,698, more than a 100 points ahead of Nifty 50's Thursday close of 22,570, indicating a positive open for the benchmark indices.

Asian shares rose cautiously on Friday as markets sobered up to the idea that U.S. rate cuts were most likely some time away, while the yen and Japanese government bonds struggled ahead of a closely watched policy decision by the Bank of Japan.

U.S. stock futures jumped after tech giants Alphabet and Microsoft reported quarterly results that beat Wall Street estimates. Nasdaq futures advanced more than 1%, while S&P 500 futures rose 0.7%.

The highlight of the Asia day was on the BOJ's rate decision at the conclusion of its two-day monetary policy meeting, as well as Governor Kazuo Ueda's news conference thereafter.

In stocks, Japan's Nikkei edged a marginal 0.02% higher.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.27%, while Australia's S&P/ASX 200 index fell more than 1%.

Hong Kong's Hang Seng Index gained 0.3%.

Elsewhere, investors were digesting the implications of Thursday's data which showed the U.S. economy grew at its slowest pace in nearly two years in the first quarter, though inflation accelerated. That reinforced expectations that the Federal Reserve would not cut interest rates before September.

U.S. Treasury yields surged to five-month highs in the previous session and remained elevated in Asia. The two-year yield hovered near the 5% level, while the benchmark 10-year yield steadied at 4.7019%.

The dollar, however, slipped on the back of the weaker U.S. growth, and was nursing some of those losses on Friday.

Focus now turns to March's core PCE price index data due later on Friday - the Fed's preferred measure of inflation - for further clues on the U.S. rate outlook.

In commodities, Brent rose 0.38% to $89.35 a barrel, while U.S. crude gained 0.35% to $83.86 per barrel. Gold eased 0.08% to $2,329.50 an ounce.

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