Stock Market Highlights, May 7: Sensex declines 384 pts, Nifty nears 22,300; FMCG, IT buck trend

Stock Market Highlights on Tuesday, May 7: Power Grid, IndusInd Bank, Tata Motors, HCL Tech, NTPC, Tata Steel, ICICI Bank, Axis Bank, RIL, HDFC Bank, and Ultratech Cement were the the top laggards

3:56 PM

Comment :: Why FMCG shares rallied on Tuesday, May 7?

Despite positive global cues, the domestic market continued to consolidate. The domestic market is witnessing profit booking due to various factors, including a low turnout in the ongoing election and premium valuations. However, FMCG remained the biggest sectoral gainer in today’s trading session, driven by expectations of improving volume growth from rural areas aided by favourable monsoon expectations.

Views by: Vinod Nair, Head of Research, Geojit Financial Services

3:50 PM

IPO Update : Indegene issue subscribed 6.7x till 3:45 PM on day 2 of the offer

>> Bidding ends at 5:00 PM.

3:45 PM

Currency update :: Rupee ends 2 paise weaker at 83.51/$

3:43 PM

Broader markets :: MidCap index dips nearly 2%, SmallCap over 1.5%

3:42 PM

Sensex Heatmap :: HUL rallies over 5%, Tech M 2.5% in weak session

3:40 PM

Sectoral trends :: FMCG, IT indices end in green; Realty sheds 3.5%

3:38 PM

Closing Bell :: Sensex drops over 350 pts

3:38 PM

Closing Bell :: Nifty ends nears 22,300

3:29 PM

March Quarter Results :: Kajaria Ceramics posts PAT of Rs 102 cr vs Rs 108 cr YoY

>> Ebitda at Rs 173 cr vs Rs 175 cr YoY

>> Ebitda margin at 13.94% vs 14.6% YoY

 

3:17 PM

March Quarter Results :: SRF posts cons PAT of Rs 422 cr vs Rs 560 cr YoY; misses estimates

>> PAT estimate was Rs 439 crore

>> Revenue is Rs 3,570 crore vs Rs 3,800 crore YoY; Estimate was Rs 3538 crore 

>> Ebitda at Rs 696 crore Rs 930 corre YoY; estimate was Rs 779 crore 

>> Ebida margin at 19.50% vs 24.67% YoY; estimate: 21.9%

3:05 PM

Zee Entertainment hits over four-year low; tanks 52% thus far in CY 2024

Analysts at Emkay Global Financial Services said Zee's near-term performance is likely to further deteriorate from current levels. READ MORE

2:56 PM

ALERT:: HIL Q4 net falls 73%; stock dips 4%

HIL today posted a 72.8 per cent dip in net profit at Rs 4.06 crore for Q4 ended March 2024 as against Rs 14.91 crore in the year ago period. Total income, however, was up 5.7 per cent YoY at Rs 546.59 crore from Rs 516.91 crore.

2:46 PM

14 hours a day: Global stock exchanges with trading time more than BSE, NSE

By definition, 'trading hour' is defined as the time span during which a stock exchange is open. During this period, shares and derivative contracts are bought and sold. READ MORE

 

2:35 PM

Mid, SmallCap indices slip up to 3% on May 7; analysts cite rich valuations

Among the reasons for Tuesday’s fall could be a limited upgrade in earnings against elevated market expectations and rich valuations, said analysts. READ MORE

Market, bear

2:25 PM

Arvind shares jump over 6%, hits record high after Q4 results

Arvind's topline grew 8.7 per cent year-on-year (Y-o-Y) to Rs 2,074.5 crore in Q4FY24, compared to Rs 1,880.7 crore in the corresponding period of the previous fiscal year. READ MORE

2:13 PM

L&T Q4 preview: Company may see 22% YoY jump in PAT; check key monitorables

Larsen & Toubro (L&T), the engineering, procurement and construction (EPC) giant is set to see a decent financial earnings on a year-on-year (Y-o-Y) basis for the fourth quarter of financial year 2023-24 (Q4FY23), showing a 8-14 per cent Y-o-Y jump in its topline. The firm may register its revenues in the range of Rs 66,366 crore to Rs 6,318 crore, according to brokerage estimates. READ MORE

2:02 PM

DIIs vs mutual funds vs FIIs: Which sectors are investors betting on?

Indian markets are moving towards atmanirbharta (self reliance) with the share of DIIs set to overtake that of FIIs in the next few quarters. READ MORE

1:50 PM

This SME stock has surged 100% in 1 month; zoomed 330% against IPO price

Shares of KP Green Energy (KPGE) locked in upper circuit for the fourth straight day, up 5 per cent at Rs 619.85 on the BSE on Tuesday at 12:50 pm; in otherwise a weak market. READ MORE

1:36 PM

Asian Market Update:: Nikkei, Kospi shine in mixed trade

1:24 PM

DCM Shriram falls over 7% after weak March quarter results

DCM Shriram shares dropped as much as 7.54 per cent to hit an intraday low of Rs 938.90, on Tuesday. The fall came after the company reported a weak set of quarter-ending March (Q4FY24) results. READ MORE

1:14 PM

Muthoot Finance planning to raise funds using dollar-denominated bonds

India's Muthoot Finance is planning to raise funds through US dollar-denominated bonds maturing in three years and nine months and has provided initial guidance for a coupon of around 7.375 per cent, two bankers said on Tuesday. READ MORE

1:02 PM

India VIX jumps 72% from April lows; up 5% today. What's behind the surge?

Analysts attribute this rise to nervousness ahead of the outcome of Lok Sabha elections on June 4, and expect India VIX to continue its journey north as the election outcome day nears. READ MORE

12:49 PM

Blackstone all set to buy Adani Realty's BKC office tower for Rs 2,000 cr

Adani Realty's commercial project in MRealty'sbusy business district, the Bandra-Realty'smplex, comprises an offMumbai'sr of around 800,000 square feet. READ MORE

12:37 PM

CG Power zooms 6%, hits 52-week high on decent rise in Q4 revenues

The company registered standalone profit after tax (PAT) of Rs 240.59 crore for Q4FY24, slightly higher than Rs 240.23 crore from the corresponding period last year. READ MORE

12:28 PM

UBS reports income of $1.8 bn; 1st profit since Credit Suisse takeover

The group's wealth management arm reported $27 billion in net new assets for the first quarter of the year, compared to $22 billion for the three months prior. READ MORE

12:16 PM

Pharma major Lupin slides 5% as Q4 earnings miss street expectations

Shares of pharmaceutical company Lupin slipped 5.2 per cent at Rs 1,591 on the BSE in Tuesday’s intraday deals. This came after the pharma major reported its quarterly earnings on Monday that missed street expectations. READ MORE

12:04 PM

Crisis-hit Jaiprakash Associates defaults on Rs 4,616 crore loans

Crisis-hit Jaypee Group's flagship firm Jaiprakash Associates has defaulted on loans worth Rs 4,616 crore, including principal and interest amount. READ MORE

Jaypee Group, Jaiprakash Associates (Photo: Wikipedia)

11:56 AM

HPCL, BPCL gain up to 4% on bonus issue plan; IOCL down 2%

The boards of directors of HPCL, and BPCL are scheduled to meet on Thursday, May 9, 2024 to consider bonus issue plan. READ MORE

11:44 AM

Happiest Minds Q4 profit rises 25% to Rs 72 crore

IT firm Happiest Minds Technologies has reported a 24.83 per cent increase in consolidated net profit at Rs 71.98 crore for the quarter ended March 2024. READ MORE

11:35 AM

These 5 stocks have slipped over 10% in a month, but there's room for more

Adani Enterprises, Titan, Paytm and HCL Technologies and 24 others among the NSE 500 have declined over 10% in the last one month. Here are five stocks that look weaker on charts for now. READ MORE