Nestle India was the top loser in the Sensex pack, shedding 2.20 per cent, on its first day as part of the index.
With the increased death rate in the ongoing second wave of Covid-19, domestic cement companies are in no better condition than they were in the April-June quarter of FY21 when the country faced nationwide lockdown. "This wave has had high death rate which has impacted the business. "We are in no better situation than last (year) April. "Deaths of drivers, dealers, contractors and also employees have hit the industry really very hard since April (FY22)," M Ravinder Reddy, director of Bharathi Cements said.
Investor wealth zoomed over Rs 10.48 lakh crore in two days as the Budget-driven market euphoria continued to charge bulls on Tuesday.
Top companies have grabbed a bigger pie of their sectors in the pandemic period, leading to a further rise in market concentration in many industries as measured by the Herfindahl-Hirschman Index (HHI). The HHI score, which indicates competitive intensity in an industry (or a lack of it), reached a new high in FY21 as bigger firms raised their revenue market shares either organically or through mergers and acquisitions. A higher HHI score indicates a rise in market concentration in favour of a few firms while a lower score means that the industry's revenue is more evenly divided among many companies
L&T was the top gainer in the Sensex pack, rallying 4.81 per cent, followed by M&M, Sun Pharma, Tech Mahindra, NTPC, SBI, ICICI Bank and Titan.
Reliance Industries was the top gainer in the Sensex pack, surging over 3 per cent, followed by Bajaj Finserv, IndusInd Bank, HDFC twins and Kotak Bank. NSE Nifty surged 143.25 points or 1.18 per cent to 12,263.55.
The combined dividend payout by early-bird companies -- those that have declared their results for FY21 -- is up 8.9 per cent, lower than the 21.9 per cent rise in in FY20 but ahead of the underlying growth in India Inc business last year. Combined net sales of these early birds were down 1.8 per cent last financial year while net profit was up 27.3 per cent in FY21. Some top companies that have stepped up dividend payout in FY21 include Hindustan Unilever, Indus Towers, Tata Steel, Ultratech Cement, Larsen & Toubro, Dabur, Asian Paints, and UPL. In contrast, banks have skipped dividends under an RBI diktat while companies such as Marico, TCS, Maruti Suzuki, and Godrej Consumer are paying lower dividends for FY21.
Cement shares have been outperformers on the stock market
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
In a circular dated May 20, Sebi had directed the listed companies to evaluate the impact of Covid-19 on their capital and financial resources, profitability, liquidity position, assets, and ability to service debt. Instead, companies have spoken about the number of plants, warehouses and distribution centres that have resumed operations; work-from-home and safety measures undertaken for employees; and the labour shortage they are facing.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
L&T was the top loser in the Sensex pack, dropping 4.99 per cent, after the engineering major posted a 45 per cent decline in consolidated net profit for the September quarter. Titan, ONGC, Axis Bank, HUL, NTPC, M&M and HDFC were the other major laggards, shedding up to 3.32 per cent. NSE Nifty fell 58.80 points or 0.50 per cent to 11,670.80.
With infrastructure claiming a larger share, movement and distribution of cement is bound to change.
On the Sensex chart, Sun Pharma was the top loser, followed by Maruti, L&T, Hero Motocorp, Infosys, ONGC and RIL.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Domestic investors were also concerned about possible stagflation in India due to low growth and high inflation in wake of recently released government data. IndusInd Bank was the top loser in the Sensex pack, dropping 5.44 per cent. Infosys, SBI, PowerGrid, Tech Mahindra, Bharti Airtel and HDFC Bank too fell up to 1.21 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Reflecting substantial financial stress, diversified Jaypee Group companies have defaulted on loans and other payments worth Rs 4,460 crore (Rs 44.60 billion).
Among major Sensex gainers, ITC rose the most by 2.32 per cent, followed by TCS, M&M, SBI and Bharti Airtel.
The sale of Essar Oil was India's biggest deleveraging exercise undertaken by any debt-heavy group
Axis Bank was the top gainer in the Sensex pack, climbing 3.33 per cent, followed by PowerGrid, SBI, Bharti Airtel, ICICI Bank, Reliance Industries and Maruti.
The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
The RBI governor's assurance should give investors enough confidence to start believing in the NBFC sector again, say bankers.
FII investments, movement of rupee against dollar and crude oil to influence trading
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
Indian companies had raised $2.39 billion from foreign markets in May 2015.
It wasn't Kumar Mangalam Birla alone; the Hindalco mine allocation turned the spotlight on the PM and the Odisha CM.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
While UltraTech Cement has been the biggest value creator adding nearly Rs 99,000 crore to its market capitalisation, Grasim Industries has added around Rs 27,000 crore to its market cap.
Booked between 2007 and 2011, out of the total 32,700 residential units under various Jaypee Infratech (JIL) projects, at least 20,000 homes are yet to be delivered. Supreme Court documents show that, till last March, Jaypee had issued 7,997 offers of possession to homebuyers while executing only 6,530 sub-lease deeds. These deeds offer homebuyers possession rights but, unlike registration, does not guarantee absolute ownership.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
CEOs point fingers at rural job guarantee and related govt welfare schemes; say mechanisation an increasingly viable option.
SFIO, the investigation arm of the Corporate Affairs Ministry, has been ordered to probe alleged fraud in 83 companies in the last four years, Parliament was informed on Thursday.
'Our preference remains for the less-expensive industrial stocks, which are showing good earnings momentum.'
10 companies and industry body penalised for cartelisation, likely to take legal recourse.
Industry players said they were indeed seeing a serious fall in capacity usage, though some sectors were seeming to prevent further fall in the overall capacity utilisation.
The broadening of the market rally sends the signal that growth will be broad-based, observes Akash Prakash.
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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