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Sensex hits 35,000 levels in intraday trade, led by gains in banking stocks. In corporate results, Maruti reported FY18 net at Rs 77.21 billion. Stock ended 1.9% lower at Rs 8,778 levels

markets, stocks, sensex, nifty, bse, nse

<div>
	
	Benchmark indices ended sharply up on Friday at two-month highs, triggered by corporate earnings and taking cues from global peers.<br />
	<br />
	The S&P BSE Sensex hit an intra-day high of 35,065, but pared gains to end at 34,970 levels, up 256 points. The broader Nifty50 index settled at 10,692, up 75 points.<br />
	<br />
	In global markets, Asian shares edged higher, after US equities were buoyed by solid quarterly earnings and a rebound in technology stocks, while the euro languished near three-month lows after the European Central Bank kept interest rates unchanged.&nbsp;<br />
	<br />
	MSCI&rsquo;s broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent, while Japan&rsquo;s Nikkei gained 0.4 per cent.&nbsp;South Korean equities were up 0.7 per cent.<br />
	<br />
	Back home, Reliance Industries (RIL) hit a record high of Rs 1,000 per share, up 2.5% on the BSE in intraday trade on the BSE, ahead of its Q4FY18 results today. The stock surpassed its previous high of Rs 990 recorded on January 23, 2018 in intra-day deal. The textiles-to-telecom conglomerate, RIL is expected to post its best-ever quarterly consolidated net profit, with the figure expected to be close to Rs 100-billion mark.<br />
	<br />
	Axis Bank gained 9% at Rs 540 per share on the NSE, despite the private sector lender reporting its first net loss of Rs 21.8 billion for the quarter ended March 2018 (Q4FY18).</div>
<div>
	<br />
	<div>
		Country&rsquo;s largest car maker, Maruti Suzuki, reported a record annual profit of Rs 77.21 billion for the year ended March 31, 2018, helped by a double-digit growth in volumes of cars sold.</div>
	<br />
	<div>
		The Suzuki-promoted firm clocked a near 17 per cent jump in sales revenue for the year to Rs 781 billion. Profit, however, grew by just five per cent. An increase in effective tax rates and lower non-operating income due to mark-to-market impact on the invested surplus, compared to last year impacted net profit, the company said</div>
	<br />
	<br />
	<em>(with Reuters inputs)</em></div>
<br />

MARKETS ON FRIDAY: Sensex hits 35k intraday; trims gains to end 256 pts up

Business Standard

Covid-19 cases have risen to their highest level in around four months. From less than 200 cases across India at the end of February, India reported 1,134 cases on March 21st

PM Modi

Apple has already grabbed the tag of the largest smartphone exporter from India by value due to its premium and super premium segment


Surge in demand for Covishield led to a huge spike in its revenues and profits

Serum Institute

Long queues of people were seen outside the Apple store at Mumbai's BKC - India's first Apple store. People were also seen standing outside the Apple Store at Delhi's Select Citywalk Mall in Saket


Rama Rao also blamed PM Modi for doing favours to Gautam Adani by way of privatising government companies


Union Jal Shakti Minister Gajendra Singh Shekhawat had filed a criminal defamation lawsuit against the chief minister for allegedly claiming Shakawat was involved in the Sanjeevani scam


Official sources claimed that the Bill did not need ratification from states, as mandated otherwise for Constitution amendments, since it had been introduced under specific provisions


Day 5 of the special session of the Parliament will commence today. Catch all the latest updates from the session here


Assam Chief Minister Himanta Biswa Sarma on Tuesday launched the Mission Lifestyle for Environment' (LiFE) in the state, a global mass movement under the leadership of Prime Minister Narendra Modi.
Sarma said it promotes an environmentally conscious lifestyle, focusing on utilisation instead of wasteful consumption.
Under this initiative, week-long activities will be carried out across all districts, addressing seven identified categories, including saving energy and water, reducing plastic and e-waste, and healthy lifestyles, he said.
Sarma said in known and unknown ways we work against nature creating problems for humanity, leading to challenges with which humans, plants and the animal kingdom have to deal.
Earlier, we could predict the seasonal changes but now things have changed mostly due to loss of green cover, wetlands and other natural bodies, and many research papers have pointed out that North East India will face severe impacts of climate change, the CM said.
Over the l

Guwahati: Assam Chief Minister Himanta Biswa Sarma speaks during a press conference organised to commemorate the completion of 8 years of Prime Minister Narendra Modi's BJP-led government at the centre, at BJP state office in Guwahati, Wednesday, Jun

Himanta Biswa Sarma

The proposal to ease foreign direct investment (FDI) norms in the space sector is "under inter-ministerial discussion," the official added


Nearly a month ago government sources told Reuters that India is expected to ban mills from exporting sugar in the next season beginning October, halting shipments for the first time in seven years

Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

In February 2022, Russia attacked Ukraine&amp;#39;s capital, Kyiv, from the north in an attempt to overthrow President Volodymyr Zelensky&amp;#39;s government. In the months following, artillery bombardment and street fighting continued, with Russia seizing multiple cities.

&amp;nbsp;

After a slew of scandals in his term spanning three years, UK Prime Minister Boris Johnson resigned from office in July. Johnson was succeeded by Liz Truss, who took over the office in September.
						
						But after 45 days in the office, she resigned, becoming the shortest-serving PM in UK history. Her budgetary plans, at the centre of which were tax cut plans, had crashed the markets, making her lose the confidence of almost all her own MPs.
						
						In the days that followed, Rishi Sunak took over as Britain&amp;#39;s 57th prime minister and vowed to fix the mistakes made by his predecessor, Liz Truss.

Russia Invades Ukraine

In April, protests began in the nation following a sharp rise in food and fuel costs. Thousands demanded the resignation of now-ousted President Gotabaya Rajapaksa. The people faced long power cuts daily and shortages of basics, including fuel and food. Sri Lanka&amp;#39;s doctors said they were nearly out of life-saving medicines.
						
						Rajapaksa&amp;#39;s government was being blamed for the chronic mismanagement of the country&amp;#39;s finances. In July, protestors stormed Rajapaksa&amp;#39;s home, pushing him to flee the nation before resigning from office.

UK&amp;#39;s political crisis

In September, 22-year-old Iranian girl Mahsa Amini died after being detained for allegedly violating Iran&amp;#39;s laws requiring women to wear a headscarf. Authorities said she died of illness, but her family claimed she fell into a coma after being mistreated by the police. Sources said the police beat Amini with a baton and banged her head against a vehicle. At her funeral on September 17 in Saqez, women protested by ripping off their hijabs. Protests sparked by her demise have since roped in ethnic minorities and even school children. Thousands of women since then have been showing solidarity by cutting their hair and burning their hijabs in public.
						
						Now, the unrest has spread beyond a women&amp;#39;s right to a movement that is calling for an end to theocratic rule. The protests are now the most broadly supported movement in Iran in over four decades.

Sri Lanka economic crisis

In October, Chinese President Xi Jinping was handed a historic third term in office. He became the first leader of the ruling Communist Party after party founder Mao Zedong to get a third term in power.
						
						This came as China&amp;#39;s economy was running out of steam after decades of high growth. Many expect Xi&amp;#39;s third term may see China revert to more old-school economic management, focusing on shoring up the heavy industry and continuing a crackdown on big tech.

Uprising mounts again in Iran

In a historic first, rich countries agreed to pay for losses and damages caused by climate change. For 30 years, developing nations have been calling for developed countries to compensate for the costs of climate disasters caused by climate change. And rich nations that caused the pollution resisted the demand. But this changed in 2022.

Chinese President Xi Jinping starts record third term in power

In 2022, inflation was rising worldwide, with food and energy prices hitting record highs. The hike was mainly driven by pent-up consumer demand after the pandemic and Russia&amp;#39;s invasion of Ukraine. As the pandemic waned, people wanted to return to normalcy and spend more. This led to companies demanding higher prices. Companies also hired more to serve the pent-up demand. They had to increase wages to attract workers and raise prices to compensate for that.

A landmark deal UN Climate Change Conference (COP27)

In September, Queen Elizabeth II, Britain&amp;#39;s longest-serving monarch, died at 96 after reigning for 70 years. Many said her death would mark a turning point for commonwealth nations as many may disassociate themselves.

The global economy at crossroads

In October, Brazil&amp;#39;s former president, Luiz In&amp;aacute;cio Lula da Silva beat Jair Bolsonaro in the country&amp;#39;s closest presidential race in history. Silva&amp;#39;s win marked Latin America&amp;#39;s shift to the left and pointed to an extraordinary comeback for a man in jail for corruption three years ago.

Queen Elizabeth II dies

In October, billionaire Elon Musk closed his $44 billion deal to buy Twitter after months of dilly-dallying, drama and a lawsuit. The Tesla owner&amp;#39;s Twitter takeover is also one of the biggest tech acquisitions of all time. May fear that Musk&amp;#39;s takeover may turn the social media giant into a hotbed of hate speech.
					
						&amp;nbsp;

Brazil elections

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

<strong>Sectoral performers of the day</strong><br />
<br />

http://bsmedia.business-standard.com/_media/bs/img/live-blog/full/15248246607289.jpg

<strong>BSE Sensex gainers and losers of the day</strong><br />
<br />
<br />

http://bsmedia.business-standard.com/_media/bs/img/live-blog/full/15248245460971.jpg

<div>
	<strong>Market at close</strong></div>
<div>
	&nbsp;</div>
<div>
	The S&amp;P BSE Sensex ended at 34,970, up 256 points while the broader Nifty50 index settled at 10,692, up 75 points.</div>

<div>
	<strong>Maruti Suzuki India falls 5% from day&#39;s high post Q4 results</strong></div>
<div>
	<br />
	Shares of Maruti Suzuki India have dipped 2.5% to Rs 8,721 per share, falling 5% from their intra-day high of Rs 9,142 per share on the BSE, after the automaker reported a lower than expected net profit of Rs 18.82 billion due to higher tax outgo in March quarter (Q4FY18). It had profit of Rs 17.11 billion in year ago quarter. <a href="http://www.business-standard.com/article/markets/maruti-suzuki-india-falls-5-from-day-s-high-post-q4-results-118042700590_1.html?1524822823" target="_blank"><strong>READ MORE</strong></a></div>

<div>
	<strong>Sensex reclaims 35,000: IT, FMCG, auto, metal stocks shine in claw-back</strong></div>
<div>
	<br />
	<div>
		The S&amp;P BSE Sensex has regained nearly 2,400 points, or 7.4 per cent, from its recent low hit on March 23, 2018, to reclaim 35,000 levels in intra-day deals on Friday. Stocks from the metal, information technology (IT), fast moving consumer goods (FMCG) and automobiles sectors have been among the top performers during this rally.</div>
	<div>
		&nbsp;</div>
	<div>
		While Hindustan Unilever, Nestle India, Dabur India and Britannia Industries from the FMCG sector have rallied in the range of 10 per cent to 16 per cent, as many as 18 stocks from the information technology (IT) sector such as Tata Consultancy Services (TCS), Mphasis, Mindtree, Sasken Technologies, Firstsource Solutions and NIIT Technologies have rallied between 20 per cent and 43 per cent during the period. <a href="http://www.business-standard.com/article/markets/sensex-reclaims-35-000-it-fmcg-auto-metal-stocks-shine-in-claw-back-118042700565_1.html?1524822448" target="_blank"><strong>READ MORE</strong></a></div>
</div>
<br />

<strong><span style="font-size:14px;"><span style="color:#800000;">COMMENT ON MARUTI&#39;S RESULTS</span></span> Abhishek Jain, analyst at HDFC Securities</strong><br />
<br />
<div>
	We remain positive on Maruti Suzuki&#39;s (MSIL&rsquo;s) growth story based on: (1) steady volume growth plus increase in PV market share (2) Increasing ASP, led by expanding portfolio in the premium segment, (3) incremental volumes from the Gujarat facility (4) Ramp-up in rural demand and 5) healthy ROE/ROCE (25% in FY19/20E) and free cash flows. However, challenges persist in the form of: (1) increasing fuel prices, and (2) slowdown in demand from cab aggregators such as Ola and Uber owing to cut down in incentives for car owners/drivers.</div>
<div>
	<br />
	We expect revenue/EPS growth of 13/17% CAGR over FY18-20E. The stock is fairly valued at 23x FY20E (5/10 yr median at 20/16x). Maintain NEUTRAL with target price of Rs 9525, 25x FY20E</div>

<strong>Market Check</strong><br />
<br />
<table border="0" cellpadding="0" cellspacing="0" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 11px; color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; text-align: right;" width="414">
	<tbody style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">
		<tr style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">
			<td class="TTRow_left" style="margin: 0px; padding: 0px 5px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; height: 30px; text-align: left !important;">
				<strong style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">Index</strong></td>
			<td class="TTRow" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; height: 30px; text-align: center;">
				<strong style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">Current</strong></td>
			<td class="TTRow" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; height: 30px; text-align: center;">
				<strong style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">Pt. Change</strong></td>
			<td class="TTRow" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; height: 30px; text-align: center;">
				<strong style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">% Change</strong></td>
		</tr>
		<tr style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">
			<td bgcolor="#dfdedd" colspan="4" height="1px" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; text-align: left !important;">
				&nbsp;</td>
		</tr>
		<tr style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">
			<td class="TTRow_left selected" id="Ind1" style="margin: 0px; padding: 0px 5px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; height: 30px; text-align: left !important;">
				<a class="tablebluelink" href="https://www.bseindia.com/sensexview/indexview_new.aspx?index_Code=16&amp;iname=BSE30" style="color: rgb(0, 137, 208);" target="_self">S&amp;P BSE SENSEX</a></td>
			<td class="TTRow" id="IndCurr1" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; height: 30px; text-align: center;">
				34,964.88</td>
			<td class="TTRow depthvalugreen" id="IndPt1" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; color: rgb(74, 129, 6); height: 25px; text-align: center;">
				+251.28</td>
			<td class="TTRow depthvalugreen" id="IndPer1" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; color: rgb(74, 129, 6); height: 25px; text-align: center;">
				+0.72</td>
		</tr>
		<tr style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">
		</tr>
		<tr style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">
			<td bgcolor="#dfdedd" colspan="4" height="1px" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; text-align: left !important;">
				&nbsp;</td>
		</tr>
		<tr style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">
			<td class="TTRow_left" id="Ind2" style="margin: 0px; padding: 0px 5px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; height: 30px; text-align: left !important;">
				<a class="tablebluelink" href="https://www.bseindia.com/sensexview/indexview_new.aspx?index_Code=98&amp;iname=SNSX50" style="color: rgb(0, 137, 208);" target="_self">S&amp;P BSE SENSEX 50</a></td>
			<td class="TTRow" id="IndCurr2" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; height: 30px; text-align: center;">
				11,187.55</td>
			<td class="TTRow depthvalugreen" id="IndPt2" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; color: rgb(74, 129, 6); height: 25px; text-align: center;">
				+71.62</td>
			<td class="TTRow depthvalugreen" id="IndPer2" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; color: rgb(74, 129, 6); height: 25px; text-align: center;">
				+0.64</td>
		</tr>
		<tr style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">
			<td bgcolor="#dfdedd" colspan="4" height="1px" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; text-align: left !important;">
				&nbsp;</td>
		</tr>
		<tr style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">
			<td class="TTRow_left" id="Ind3" style="margin: 0px; padding: 0px 5px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; height: 30px; text-align: left !important;">
				<a class="tablebluelink" href="https://www.bseindia.com/sensexview/indexview_new.aspx?index_Code=99&amp;iname=SPBSN5" style="color: rgb(0, 137, 208);" target="_self">S&amp;P BSE SENSEX Next 50</a></td>
			<td class="TTRow" id="IndCurr3" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; height: 30px; text-align: center;">
				34,718.44</td>
			<td class="TTRow depthvalugreen" id="IndPt3" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; color: rgb(74, 129, 6); height: 25px; text-align: center;">
				+294.99</td>
			<td class="TTRow depthvalugreen" id="IndPer3" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; color: rgb(74, 129, 6); height: 25px; text-align: center;">
				+0.86</td>
		</tr>
		<tr style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">
			<td bgcolor="#dfdedd" colspan="4" height="1px" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; text-align: left !important;">
				&nbsp;</td>
		</tr>
		<tr style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">
			<td class="TTRow_left" id="Ind4" style="margin: 0px; padding: 0px 5px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; height: 30px; text-align: left !important;">
				<a class="tablebluelink" href="https://www.bseindia.com/sensexview/indexview_new.aspx?index_Code=22&amp;iname=BSE100" style="color: rgb(0, 137, 208);" target="_self">S&amp;P BSE 100</a></td>
			<td class="TTRow" id="IndCurr4" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; height: 30px; text-align: center;">
				11,097.12</td>
			<td class="TTRow depthvalugreen" id="IndPt4" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; color: rgb(74, 129, 6); height: 25px; text-align: center;">
				+74.70</td>
			<td class="TTRow depthvalugreen" id="IndPer4" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; color: rgb(74, 129, 6); height: 25px; text-align: center;">
				+0.68</td>
		</tr>
		<tr style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">
			<td bgcolor="#dfdedd" colspan="4" height="1px" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; text-align: left !important;">
				&nbsp;</td>
		</tr>
		<tr style="margin: 0px; padding: 0px; border: 0px; outline: 0px;">
			<td class="TTRow_left" id="Ind5" style="margin: 0px; padding: 0px 5px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; height: 30px; text-align: left !important;">
				<a class="tablebluelink" href="https://www.bseindia.com/sensexview/indexview_new.aspx?index_Code=100&amp;iname=BHRT22" style="color: rgb(0, 137, 208);" target="_self">S&amp;P BSE Bharat 22 Index</a></td>
			<td class="TTRow" id="IndCurr5" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; height: 30px; text-align: center;">
				3,590.97</td>
			<td class="TTRow depthvalugreen" id="IndPt5" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; color: rgb(74, 129, 6); height: 25px; text-align: center;">
				+61.63</td>
			<td class="TTRow depthvalugreen" id="IndPer5" style="margin: 0px; padding: 0px; border-width: 0px; border-style: initial; border-color: initial; outline: 0px; font-size: 12px; font-variant-numeric: normal; font-variant-east-asian: normal; color: rgb(74, 129, 6); height: 25px; text-align: center;">
				+1.75</td>
		</tr>
	</tbody>
</table>
<br />
<br />
<em>(Source: BSE)</em>

<strong><span style="font-size:14px;"><span style="color:#800000;">MUST READ</span></span>&nbsp;Maruti Suzuki posts record Rs 77 bn profit in FY18 on 17% hike in revenue</strong><br />
<br />
<div>
	Country&rsquo;s largest car maker Maruti Suzuki has reported a record annual profit of Rs 77.21 billion for the year ended March 31, 2018, helped by a double-digit growth in volumes of cars sold.</div>
<div>
	&nbsp;</div>
<div>
	The Suzuki promoted firm clocked a near 17 per cent jump in sales revenue for the year to Rs 781 billion. Profit, however, grew by just five per cent. An increase in effective tax rates and lower non-operating income due to mark-to-market impact on the invested surplus, compared to last year impacted net profit, the company said. <a href="http://www.business-standard.com/article/companies/maruti-suzuki-posts-record-rs-77-bn-profit-in-fy18-on-17-hike-in-revenue-118042700536_1.html" target="_blank"><strong>READ MORE</strong></a></div>

<strong>Earnings impact: Maruti Suzuki shares slip 1.8% on NSE</strong><br />
<br />

http://bsmedia.business-standard.com/_media/bs/img/live-blog/full/15248206886097.jpg

<strong style="color: rgb(128, 0, 0); font-size: 14px;">Maruti Suzuki Q4FY18:&nbsp;</strong>EBITDA margin at 14.2% vs 14% (YoY), reports CNBC TV18

<strong style="color: rgb(128, 0, 0); font-size: 14px;">Maruti Suzuki Q4FY18:</strong>&nbsp;Realisation up 3.6% at Rs 4.58 Lk vs Rs 4.42 Lk (YoY), reports CNBC TV18

<span style="color:#800000;"><span style="font-size:14px;"><strong>Maruti Suzuki Q4FY18:</strong>&nbsp;</span></span>Revenue up 15.4% at Rs 21,165.6 vs Rs 18,333 (YoY), reports CNBC TV18

<strong style="color: rgb(128, 0, 0); font-size: 14px;">Maruti Suzuki Q4FY18:&nbsp;</strong>EBITDA up 17.8% at Rs 3,015 cr vs Rs 2,560 cr (YoY), reports CNBC TV18

<span style="font-size:14px;"><span style="color:#800000;"><strong>Maruti Suzuki Q4FY18:</strong></span></span> Profit up 10.1% at Rs 1,882 cr vs Rs 1,710 cr (YoY), reports CNBC TV18<br />
<br />
<br />

<strong>Market Check</strong><br />
<br />
<div>
	&nbsp;</div>
<div>
	<table border="1" cellpadding="1" cellspacing="1" class="s11" style="font-size: 11px; color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif;width: 620px" width="100%">
		<tbody>
			<tr>
				<td class="cBl" style="margin: 0px; padding: 0px; color: rgb(34, 113, 186);" width="50%">
					<a href="http://smartinvestor.business-standard.com/market/indxsnap-bse_sensex-BSE.htm" style="outline: none; color: rgb(34, 113, 186); text-decoration: none;">S&amp;P BSE Sensex</a></td>
				<td align="right" style="margin: 0px; padding: 0px;" width="20%">
					35,013.14</td>
				<td style="margin: 0px; padding: 0px;" width="5%">
					<img alt="Up" height="6" src="http://smartinvestor.business-standard.com/common/images/arrow_green_up.gif" style="border: 0px;" width="12" /></td>
				<td align="right" class="green " style="margin: 0px; padding: 0px; color: rgb(0, 170, 40);" width="24%">
					<font class="inc" style="font-weight: bold;">0.86</font>%</td>
			</tr>
			<tr>
				<td colspan="4" height="4" style="margin: 0px; padding: 0px;">
					&nbsp;</td>
			</tr>
			<tr>
				<td class="cBl" style="margin: 0px; padding: 0px; color: rgb(34, 113, 186);" width="50%">
					<a href="http://smartinvestor.business-standard.com/market/indxsnap-nifty-NSE.htm" style="outline: none; color: rgb(34, 113, 186); text-decoration: none;">Nifty 50</a></td>
				<td align="right" style="margin: 0px; padding: 0px;" width="20%">
					10,701.05</td>
				<td style="margin: 0px; padding: 0px;" width="5%">
					<img alt="Up" height="6" src="http://smartinvestor.business-standard.com/common/images/arrow_green_up.gif" style="border: 0px;" width="12" /></td>
				<td align="right" class="green " style="margin: 0px; padding: 0px; color: rgb(0, 170, 40);" width="24%">
					<font class="inc" style="font-weight: bold;">0.78</font>%</td>
			</tr>
			<tr>
				<td colspan="4" height="4" style="margin: 0px; padding: 0px;">
					&nbsp;</td>
			</tr>
			<tr>
				<td class="cBl" style="margin: 0px; padding: 0px; color: rgb(34, 113, 186);" width="50%">
					<a href="http://smartinvestor.business-standard.com/market/indxsnap-bse_200-BSE.htm" style="outline: none; color: rgb(34, 113, 186); text-decoration: none;">S&amp;P BSE 200</a></td>
				<td align="right" style="margin: 0px; padding: 0px;" width="20%">
					4,703.67</td>
				<td style="margin: 0px; padding: 0px;" width="5%">
					<img alt="Up" height="6" src="http://smartinvestor.business-standard.com/common/images/arrow_green_up.gif" style="border: 0px;" width="12" /></td>
				<td align="right" class="green " style="margin: 0px; padding: 0px; color: rgb(0, 170, 40);" width="24%">
					<font class="inc" style="font-weight: bold;">0.80</font>%</td>
			</tr>
			<tr>
				<td colspan="4" height="4" style="margin: 0px; padding: 0px;">
					&nbsp;</td>
			</tr>
			<tr>
				<td class="cBl" style="margin: 0px; padding: 0px; color: rgb(34, 113, 186);" width="50%">
					<a href="http://smartinvestor.business-standard.com/market/indxsnap-cnx500-NSE.htm" style="outline: none; color: rgb(34, 113, 186); text-decoration: none;">Nifty 500</a></td>
				<td align="right" style="margin: 0px; padding: 0px;" width="20%">
					9,452.85</td>
				<td style="margin: 0px; padding: 0px;" width="5%">
					<img alt="Up" height="6" src="http://smartinvestor.business-standard.com/common/images/arrow_green_up.gif" style="border: 0px;" width="12" /></td>
				<td align="right" class="green " style="margin: 0px; padding: 0px; color: rgb(0, 170, 40);" width="24%">
					<font class="inc" style="font-weight: bold;">0.76</font>%</td>
			</tr>
			<tr>
				<td colspan="4" height="4" style="margin: 0px; padding: 0px;">
					&nbsp;</td>
			</tr>
			<tr>
				<td class="cBl" style="margin: 0px; padding: 0px; color: rgb(34, 113, 186);" width="50%">
					<a href="http://smartinvestor.business-standard.com/market/indxsnap-bsemid-BSE.htm" style="outline: none; color: rgb(34, 113, 186); text-decoration: none;">S&amp;P BSE Mid-Cap</a></td>
				<td align="right" style="margin: 0px; padding: 0px;" width="20%">
					16,932.15</td>
				<td style="margin: 0px; padding: 0px;" width="5%">
					<img alt="Up" height="6" src="http://smartinvestor.business-standard.com/common/images/arrow_green_up.gif" style="border: 0px;" width="12" /></td>
				<td align="right" class="green " style="margin: 0px; padding: 0px; color: rgb(0, 170, 40);" width="24%">
					<font class="inc" style="font-weight: bold;">0.88</font>%</td>
			</tr>
			<tr>
				<td colspan="4" height="4" style="margin: 0px; padding: 0px;">
					&nbsp;</td>
			</tr>
			<tr>
				<td class="cBl" style="margin: 0px; padding: 0px; color: rgb(34, 113, 186);" width="50%">
					<a href="http://smartinvestor.business-standard.com/market/indxsnap-bsesmallca-BSE.htm" style="outline: none; color: rgb(34, 113, 186); text-decoration: none;">S&amp;P BSE Small-Cap</a></td>
				<td align="right" style="margin: 0px; padding: 0px;" width="20%">
					18,290.14</td>
				<td style="margin: 0px; padding: 0px;" width="5%">
					<img alt="Up" height="6" src="http://smartinvestor.business-standard.com/common/images/arrow_green_up.gif" style="border: 0px;" width="12" /></td>
				<td align="right" class="green " style="margin: 0px; padding: 0px; color: rgb(0, 170, 40);" width="24%">
					<font class="inc" style="font-weight: bold;">0.69</font>%</td>
			</tr>
		</tbody>
	</table>
</div>
<br />

<div>
	<strong>Jewellers see 10% export growth in FY19 after 5% decline in FY18</strong></div>
<div>
	<br />
	<div>
		After a five per cent decline in FY18, jewellers believe there would be a 10 per cent jump in India&rsquo;s gem and jewellery export for the current financial year. They point to demand from new markets, depreciation in the rupee against the dollar and increases in diamond prices. <a href="http://www.business-standard.com/article/markets/jewellers-see-10-export-growth-in-fy19-after-5-decline-in-fy18-118042700061_1.html?1524817705" target="_blank"><strong>READ MORE</strong></a></div>
</div>
<br />

<div>
	<strong>PSU banks rally; Nifty PSU Bank index up 5%</strong></div>
<div>
	<br />
	Shares of public sector undertaking (PSU) banks were in focus with Nifty PSU Bank index gaining 5%, its sharpest intra-day gain during past one month on the National Stock Exchange (NSE). <a href="http://www.business-standard.com/article/markets/psu-banks-rally-nifty-psu-bank-index-up-5-118042700324_1.html" target="_blank"><strong>READ MORE</strong></a><br />
	<div style="float: left; max-width: 600px;">
		<img align="" alt="PSU banks" class="imgCont" height="464" src="http://bsmedia.business-standard.com/_media/bs/img/article/2017-10/25/full/1508956091-3912.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="PSU banks" width="620" /></div>
</div>
<br />

<div>
	<strong>Sebi puts plans to allow MFs to be sold via passporting on the back-burner</strong></div>
<div>
	<br />
	<div>
		The Securities and Exchange Board of India (Sebi) has put its plans to allow Indian mutual funds (MFs) to be sold through &lsquo;passporting&rsquo; on the back-burner. Passporting would have allowed domestic schemes to be sold in Asian countries without the need for regulatory clearance in the host country.</div>
	<div>
		&nbsp;</div>
	<div>
		The regulator is worried about excessive inflows into MFs and fears that being part of such an agreement will bring in additional foreign money into Indian mutual fund schemes, making them more susceptible to sudden outflows, sources said. <a href="http://www.business-standard.com/article/markets/sebi-puts-plans-to-allow-mfs-to-be-sold-via-passporting-on-the-back-burner-118042601502_1.html" target="_blank"><strong>READ MORE</strong></a></div>
</div>
<br />

<div>
	<strong>Lodha Developers files DRHP for IPO, aims to raise Rs 53 billion</strong></div>
<div>
	<br />
	<div>
		Mumbai based property developer Lodha has filed draft red herring prospectus for its IPO. The IPO aims to raise between Rs 50 billion to Rs 53.50 billion, sources said. The issue comprises issue of fresh shares worth Rs 37.50 billion and an offer for sale (OFS) of 18 million shares by the promoters. <a href="http://www.business-standard.com/article/markets/lodha-developers-files-drhp-for-ipo-aims-to-raise-rs-55-billion-118042700002_1.html" target="_blank"><strong>READ MORE</strong></a></div>
</div>
<br />

<div>
	<strong>FOMC meeting&mdash;key expectations by Morgan Stanley</strong></div>
<div>
	&nbsp;</div>
<div>
	We look for no change in the target range of the federal funds rate in its May 01 - 02 meeting, following the 25bp increase to 1.50%-1.75% at the March meeting.</div>
<div>
	By the time of its May meeting, the FOMC will have the 1Q GDP data in hand.<br />
	<br />
	Despite a weak start to the year, GDP has clearly been held down by transitory factors and we believe a rebound is in the cards. Since the March meeting, the incoming inflation data have confirmed the expected rebound as last year&#39;s telecom price reset rolled out of the 12-month window. We believe March data on core PCE inflation, released April 30, will show an annual rate of 2.0%&mdash;touching the Fed&#39;s 2% goal for the first time since spring 2012.</div>

MARKETS ON FRIDAY: Sensex hits 35k intraday; trims gains to end 256 pts up

Sensex hits 35,000 levels in intraday trade, led by gains in banking stocks. In corporate results, Maruti reported FY18 net at Rs 77.21 billion. Stock ended 1.9% lower at Rs 8,778 levels

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