Sensex, Nifty end flat; Dr Reddy's Labs drops 7%, L&T 5%, Adani Ent up 5%

CLOSING BELL: In the broader markets, the BSE SmallCap index outperformed the frontline indices with 0.68 per cent rise

4:11 PM

COMMENT:: Dip in US inflation reassured investors; select heavyweights disappointed

"The current market rally has been largely influenced by consistent FII inflows, driven by lower treasury yields and the weakness of the US Dollar. However, the gains in the domestic market were tempered by weak earnings reported by a few heavyweight companies. On the global front, markets remained positive as US inflation eased below 5%, providing reassurance to investors that the Fed's rate hike measures have been effective in managing inflation levels"

 

- Vinod Nair, Head of Research at Geojit Financial Services

4:10 PM

COMMENT:: Nifty likely to consolidate between 18,180 - 18,400

"The Nifty Index played out perfectly as per the OI data yesterday. The 18,300 short straddle almost went to zero as markets expired very close to this level. The trend for the next two weeks for the Index is sideways with a bullish bias. The derivative data currently indicates that the short straddle for this monthly expiry is at the 18,300 level with the highest number of call writers at the 18,500 call, which further corroborates this hypothesis. Momentum indicators are also showing signs of consolidation which is a very healthy sign for an ongoing rally. Expect Nifty to consolidate between 18,180 and 18,400 before it starts its next leg on the upside." 

 

- Rahul Ghose, Founder & CEO – Hedged, an algorithm-powered advisory platform

 

4:06 PM

Markets in consolidation phase; prudent to book profit now: Analysts

Thus far in fiscal 2023-24 (FY24), the S&P BSE Sensex has moved up around 5 per cent to nearly 62,000 levels. The Nifty50 index, on the other hand, has gained 5.5 per cent to 18,300 levels, data shows. READ MORE

4:03 PM

Larsen & Toubro dips 4% on profit booking post March quarter results

Shares of Larsen & Toubro (L&T) dipped 4 per cent to Rs 2,270 on the BSE in Thursday's intra-day trade on profit booking after the engineering behemoth reported a 10 per cent rise in its consolidated net profit to Rs 3,987 crore for the March quarter (Q4FY23) compared to a profit of Rs 3,621 crore in the year-ago period. Revenue grew 10 per cent year-on-year (YoY) to Rs 58,335 crore. READ MORE

  

4:01 PM

InterGlobe Aviation nears record high; stock surges 20% in one month

IndiGo remains well placed to benefit from strong systemic demand and its leading competitive positioning, analysts said. READ MORE

4:00 PM

Adani Group shares in focus on fund raising plan; Adani Enterprises gains 5%

The board will consider raising funds by way of issuance equity shares or other eligible securities through a private placement, a QIP, or a preferential issue, among others. READ MORE

3:58 PM

Gujarat Gas surges 6% on healthy Q4 results, turnaround in sales volume

The company's long-term volume growth prospects remain robust with the addition of new industrial units, and expansion of existing units, said Motilal Oswal Financial Services. READ MORE

3:56 PM

ONDC to test Zomato's dominance; valuation mark-down likely: Analysts

Zomato may have to compromise on the margins whenever ONDC scales up. Its valuation multiples may see up to 15 per cent correction, analysts said. READ MORE

3:55 PM

Dr Reddy's Labs sinks 7% on disappointing Q4 operating performance

In Q4, the company's North America's revenue declined 17 per cent QoQ to Rs 2,530 crore, due to fluctuations in demand for new launches. READ MORE

3:53 PM

HG Infra hits new high on strong Q4 earnings; zooms 58% thus far in 2023

Given its healthy project pipeline, ICRA expects HGIEL to maintain a healthy revenue growth of ~18-20%, steady operating margins (~16%) and comfortable leverage and coverage indicators in FY24. READ MORE

3:50 PM

Market Breadth was notably positive; Around 2,040 stocks advanced v/s 1,440 declining shares on the BSE

3:47 PM

BSE Smallcap Heatmap:: Neuland Labs, Kirloskar Bros hit 20% upper limit; DCW slumps 7%

3:45 PM

BSE Midcap Heatmap:: Gujarat Gas, Voda Idea, ACC shine; AB Capital, Laurus Labs whine

3:43 PM

Broader indices outperform benchmarks; India VIX up 1%

3:41 PM

Nifty 50 Losers:: Dr.Reddy's, L&T, Hindalco, Divis Lab drop over 3%

3:39 PM

Nifty 50 Gainers:: Adani Enterprises, Asian Paints, HUL top charts

3:37 PM

Sensex 30 Heatmap:: 22 Gainers v/s 8 Losers

3:35 PM

CLOSING BELL:: NSE Nifty50 declined 18 pts to settle at 18,297

3:33 PM

CLOSING BELL:: S&P BSE Sensex ended 36 pts lower at 61,904

3:17 PM

News Alert:: NBCC wins Rs 264 crore order; stock jumps 2%

NBCC (India) has won a Rs 264.05 crore work order for various construction and development works in Mahanadi campus of Ravenshaw University (Phase-II) by Ravenshaw University, Cuttack (Odisha).

3:04 PM

InterGlobe Aviation nears record high; stock surges 20% in one month

IndiGo remains well placed to benefit from strong systemic demand and its leading competitive positioning, analysts said. READ MORE

2:57 PM

Earnings Alert:: Aditya Birla Capital Q4 net up 35%; stock slips 3%

Aditya Birla Capital Q4 consolidated net profit rose by 35 per cent YoY to Rs 609 crore, backed by 31 per cent YoY growth in revenue at Rs 9,146 crore.

2:46 PM

Set for demerger, Sanofi's consumer health brands have strong traction

Company says split will allow it to unlock business potential in pharmaceuticals and consumer healthcare. READ MORE

2:34 PM

Microsoft freezes salaries of full-time workers due to economic uncertainty

The company will, however, consider raising rates for hourly workers while maintaining a bonus and stock award program without "overfunding" it, Nadella said without elaborating. READ MORE

2:20 PM

News Alert:: No question of filing insolvency, says Ajay Singh of SpiceJet

SpiceJet has initiated the process of reviving its grounded fleet with the $50 million funds received by the airline from the government's Emergency Credit Line Guarantee Scheme (ECLGS) and internal cash accruals, the company informed BSE in a release.

 

"There is absolutely no question of filing for insolvency. Any rumour regarding the same is completely baseless. We are focussed firmly on reviving our grounded fleet and getting more and more planes back into the air. Work on this front has already begun and the Company is using the $50 million ECLGS funds and our own cash," said Ajay Singh, Chairman and Managing Director, SpiceJet.

2:11 PM

Earnings Alert:: Asian Paints Q4 net jumps 44%; stock up 1%

Asian Paints today reported a 44 per cent growth in net profit at Rs 1,258.41 crore for the quarter ended March 2023 when compared with Rs 874.05 crore in the corresponding quarter a year ago. Revenue from operations grew by 11.5 per cent YoY to Rs 8,892.52 crore.

2:00 PM

Earnings Alert:: Kirloskar Brothers Q4 net zooms 112%; stock hits 20% upper limit

Kirloskar Brothers reported an over two-fold jump in net profit at Rs 79.50 crore for the quarter ended March 2023 when compared with Rs 37.40 crore in the corresponding quarter a year ago. Total income was up 4.8 per cent YoY at Rs 809.40 crore.

 

1:49 PM

Larsen & Toubro bets on $1.5 bn return from push to electric vehicles

Larsen & Toubro Ltd.’s engineering services arm is ramping up investments in self-driving and electric vehicle technologies, betting on India’s appeal as a source of expertise for global manufacturers looking to expand in the field. READ MORE

1:39 PM

China's slow consumer inflation, deepening deflation to test policy

The consumer price index (CPI) in April rose 0.1% year-on-year, the lowest rate since February 2021, and cooling from the 0.7% annual gain seen in March, the National Bureau of Statistics (NBS) said. READ MIORE

1:30 PM

HG Infra hits new high on strong Q4 earnings; zooms 58% thus far in 2023

Given its healthy project pipeline, ICRA expects HGIEL to maintain a healthy revenue growth of ~18-20%, steady operating margins (~16%) and comfortable leverage and coverage indicators in FY24. READ MORE