 "SI Reporter")
SI Reporter
SI Reporter
The Business Standard's Smart Investor (SI) reports focus on in-depth analysis and timely news concerning strategic investment trends, business deals, and financial manoeuvres within the corporate world.
The Business Standard's Smart Investor (SI) reports focus on in-depth analysis and timely news concerning strategic investment trends, business deals, and financial manoeuvres within the corporate world.
Page 566 - Si Reporter
Sensex soars 1,534 pts; Nifty tops 16,250; Dr Reddy's surges 8%, RIL 6%
CLOSING BELL: Dr Reddy's Labs, JSW Steel, Nestle India, Tata Motors, Tata Steel, Cipla, Adani Ports, L&T, RIL, Axis Bank, and SBI led from the front, rallying over 3.5 per cent each
 "Sensex soars 1,534 pts; Nifty tops 16,250; Dr Reddy's surges 8%, RIL 6%")
HAL hits new high on strong Q4 results; stock soars 18% in a week
In the past one week, the stock has gained 18 per cent after the company reported 90 per cent year on year (YoY) jump in consolidated net profit at Rs 3,105 crore for March quarter (Q4FY22).
 "HAL hits new high on strong Q4 results; stock soars 18% in a week")
Welspun Corp hits 52-week high on Rs 5,000 crore order win
With this, Welspun Crop order book as on date (excluding Saudi) stands at 704,000 MT valued at approximately Rs 10,500 crore.
 "Welspun Corp hits 52-week high on Rs 5,000 crore order win")
Equitas SFB dips 11% on resignation of MD & CEO P N Vasudevan
P N Vasudevan resigned as the managing director and chief executive officer of the Equitas Small Finance Bank for a career in health and education.
 "Equitas SFB dips 11% on resignation of MD & CEO P N Vasudevan")
CPCL hits over four-year high; zooms 164% in 7 weeks on strong earnings
In Q4FY22, CPCL reported four-fold jump in its consolidated net profit at Rs 1,002 crore as against Rs 242 crore in Q4FY21.
 "CPCL hits over four-year high; zooms 164% in 7 weeks on strong earnings")
Prudent Corporate falls 6% below its issue price despite decent listing
The stock hit an intra-day low of Rs 594.25, down 6 per cent from its issue price.
 "Prudent Corporate falls 6% below its issue price despite decent listing")
Investors poorer by Rs 7 trn as Sensex crashes 1,416pts; Nifty holds 15,800
CLOSING BELL: The Nifty IT index plunged 6 per cent on the NSE today after global brokerage JPMorgan downgraded the sector to "underweight".
 "Investors poorer by Rs 7 trn as Sensex crashes 1,416pts; Nifty holds 15,800")
Nava Bharat Ventures zooms 33% in 4 days on robust Q4 results
The company reported robust growth in its operations, backed by solid traction in manganese alloy business in both export and domestic markets.
Nifty IT index slips 5%; Infosys, Tech Mahindra, LTTS, Wipro down over 5%
The deterioration of the US corporate sector profitability would lead to tighter IT spending
 "Nifty IT index slips 5%; Infosys, Tech Mahindra, LTTS, Wipro down over 5%")
Manappuram Finance plunges 12%, hits 2-year low on weak Q4 results
Asset quality worsened during the quarter as gross non-performing asset (NPA) and net NPA ratio increased by 160 basis points (bps) and 170 bps quarter on quarter (QoQ) to 3 per cent and 2.7 per cent.
 "Manappuram Finance plunges 12%, hits 2-year low on weak Q4 results")
HDFC Bank hits 52-week low; slips 26% since merger announcement with HDFC
Slower-than-expected credit growth amid weakening macros due to the Ukraine-Russia conflict; further softness in margins due to slower retail credit growth are key risks according to analysts
 "HDFC Bank hits 52-week low; slips 26% since merger announcement with HDFC")
Lupin slips 9%, hits 2-year low on disappointing March quarter results
Lupin's performance was skewed on revenues front amid US and India posting lower than expected sales while RoW and South Africa saw better than anticipated traction this quarter.
 "Lupin slips 9%, hits 2-year low on disappointing March quarter results")
Bharti Airtel trades weak despite strong Q4; down 5% from intra-day high
In the past one week, Airtel has underperformed the market by falling 4 per cent, as compared to 0.28 per cent rise in the Sensex.
 "Bharti Airtel trades weak despite strong Q4; down 5% from intra-day high")
Ruchi Soya hits upper circuit on buyout of Patanjali's food retail business
The board also approved to change company's name from Ruchi Soya Industries to Patanjali Foods.
 "Ruchi Soya hits upper circuit on buyout of Patanjali's food retail business")
Sensex snaps 2-day gaining streak, slips 110 pts; Ruchi Soya leaps 10%
CLOSING BELL: Sectorally, the Nifty Realty and PSU Bank indices were the worst hit as they slipped 1.75 per cent and 1.6 per cent on the NSE
 "Sensex snaps 2-day gaining streak, slips 110 pts; Ruchi Soya leaps 10%")
MRPL hits highest level since Oct 2018, rallies 34% in four trading days
For Q4FY22, MRPL reported standalone net profit of Rs 3,008 crore as against profit of Rs 268 crore in Q4FY21.
 "MRPL hits highest level since Oct 2018, rallies 34% in four trading days")
OMCs in focus; HPCL hits 52-week low, IOC slips 4% on disappointing Q4
As per media reports, the government is considering selling a 20-25 per cent stake in BPCL instead of its entire 53 per cent holding, previously under divestment process.
 "OMCs in focus; HPCL hits 52-week low, IOC slips 4% on disappointing Q4")
Gokaldas Exports surges 9%; hits all-time high on healthy business outlook
A shift in consumer preferences post pandemic towards wovens, as people seek more formal clothes, may improve demand.
 "Gokaldas Exports surges 9%; hits all-time high on healthy business outlook")
Dr Lal Pathlabs slips 6%, hits 52-week low post muted Q4 results
In Q4FY22, normalised earnings before interest, taxes, depreciation, and amortization (EBITDA) margins contracted 630 bps to 19.4 per cent from 25.7 per cent in Q4FY21
 "Dr Lal Pathlabs slips 6%, hits 52-week low post muted Q4 results")
Honda India Power surges 13%; stock hits over four-year high
The company remains confident of gasoline fueled engine and water pump business to perform well. It anticipates complete transition to gasoline from kerosene-powered products.