Asian Paints, HUL, TCS, Tech Mahindra, Reliance Industries, UltraTech Cement were among the top laggards in the Sensex pack.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
Tata Steel was the biggest gainer in the Sensex chart, rising 2.39 per cent, followed by Tata Motors, Power Grid, Reliance Industries, UltraTech Cement, NTPC, Nestle, HUL, Mahindra & Mahindra, Wipro, Kotak Mahindra Bank and Asian Paints. In contrast, Bajaj Finance, IndusInd Bank, Axis Bank, Bharti Airtel, Bajaj Finserv, ICICI Bank, Infosys and Titan were among the laggards.
Titan was the top gainer in the Sensex pack, climbing over 4 per cent, followed by Bajaj Auto, Maruti, Reliance Industries, ONGC and UltraTech Cement.
TCS was the top gainer in the Sensex pack, rising over 3 per cent, followed by L&T, Bharti AIrtel, HCL Tech, Tata Steel, Bajaj Auto and Reliance Industries. NSE Nifty rallied 164.70 points to its fresh closing peak of 16,529.10.
Jagdish Malkani, member of the National Stock Exchange, says that cement as a sector is definitely attractive; and hotels too are doing extremely well.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
Among the Sensex firms, Infosys, NTPC, Power Grid, Titan, ITC, Tech Mahindra, Hindustan Unilever, Axis Bank, Tata Consultancy Services, Bajaj Finserv, Reliance Industries and UltraTech Cement were the biggest gainers. In contrast, IndusInd Bank, Kotak Mahindra Bank, Mahindra & Mahindra, JSW Steel, HDFC Bank and Maruti were the major laggards.
Equity benchmarks Sensex and Nifty on Friday spurted by nearly 2 per cent, propelled by heavy buying in IT, metal and financial stocks amid a rally in global markets after lower-than-expected US inflation data. A strong rupee against the US dollar and unabated foreign capital inflows further bolstered sentiment, traders said. Easing US inflation triggered speculation that the US Federal Reserve might slow down the pace of interest rate hikes.
India's top listed companies reported their best-ever quarterly net profit of Rs 2.39 trillion in the September quarter of FY22, up 46.4 per cent year-on-year. The earnings were driven by a big surge in the profitability of banks, non-banking financial companies & insurance (BFSI), oil & gas, and metal & mining firms. The combined net profit of these three cyclical sectors were up 87 per cent YoY to a record high of Rs 1.53 trillion, up from Rs 82,000 crore a year ago and Rs 1.08 trillion in Q1FY22.
The Mukesh Ambani-led Reliance group ended 2007 by overtaking the Tata group in market capitalisation stakes and this despite the latter's acquisition of Corus steel. Last year's number one, the Tata group, is now a distant number two with a market capitalisation of Rs 3.20 trillion.
The 50-share NSE Nifty ended flat, up 5.80 points, or 0.06 per cent, at 10,308.95.
From the Sensex pack, Bajaj Finserv, HDFC Bank, Tata Motors, HCL Technologies, Tata Consultancy Services, Axis Bank, Infosys, IndusInd Bank, Tech Mahindra and Maruti were the major laggards. NTPC, Power Grid, Mahindra & Mahindra, JSW Steel, Bajaj Finance, ITC and Reliance Industries were among the gainers.
The move, which follows Tata Sons scaling up its stake in Tata Steel by 2 per cent in the recent past, is aimed at taking the promoters' holding in RIL beyond the reach of hostile takeover attempts.
Blue-chips like Reliance Industries, TCS, Tata Steel and Infosys plunged into deep red on stock market on Friday, as investors dumped stocks with significant export exposure after an overnight sell-off in the US market.
SBI was the top loser in the Sensex pack, shedding over 1 per cent, followed by Reliance Industries, Tech Mahindra, M&M, L&T, Bharti Airtel, IndusInd Bank and HDFC. NSE Nifty slipped 31.60 points to 15,824.45.
Titan was the top gainer in the Sensex pack, rising around 4 per cent, followed by HDFC, Nestle India, IndusInd Bank, UltraTech Cement and Bharti Airtel. On the other hand, Bajaj Auto, Tata Steel and NTPC were the laggards.
India's corporate sector is likely to report a slowdown in revenue growth and earnings for the July-September 2023 period (Q2FY24), according to earnings estimates by brokerages, after the country's top listed companies posted higher than expected profits for the first quarter. The combined net profit of Nifty50 companies, based on brokerage estimates, is expected to have grown by 19.6 per cent year-on-year (Y-o-Y) to Rs 1.75 trillion in Q2FY24 - a sharp deceleration from 37.6 per cent Y-o-Y growth in the combined earnings of index companies in the April-June 2023 period. According to estimates, the combined earnings in the second quarter would be down 8.8 per cent on a quarter-on-quarter (Q-o-Q) basis and the lowest in the past three quarters.
Among Sensex shares, Bajaj Finserv fell the most by 4.08 per cent. Bajaj Finance declined by 3.01 per cent, Tata Steel by 2.2 per cent, Wipro by 2.09 per cent, Tata Motors by 1.96 per cent, IndusInd Bank by 1.9 per cent, SBI by 1.75 per cent, Tech Mahindra by 1.66 per cent and HCL Tech by 1.2 per cent. TCS, Infosys, Power Grid, Maruti, Reliance, HDFC twins, L&T, M&M, NTPC and Ultratech Cement were also among the losers.
RIL became the first Indian company to hit the Rs 9.5 lakh-crore market capitalisation level. Shares of Bharti Airtel soared 7.36 per cent and Vodafone Idea rallied 34.68 per cent after both the companies announced a hike in mobile phone call and data charges from December.
Asian Paints was the top gainer in the Sensex pack, rising around 3 per cent, followed by Kotak Bank, Axis Bank, HDFC Bank, Infosys, Reliance Industries and ITC. Broader NSE Nifty rallied 136.15 points or 1.02 per cent to its new record high of 13,529.10.
Ajit Mishra answers reader queries on the stock market.
Benchmark equity indices Sensex and Nifty closed higher on Friday after two days of fall, helped by buying in metal, telecom and auto stocks amid a firm trend in global markets. Automakers led by Maruti Suzuki India, Hyundai, Mahindra & Mahindra reporting robust wholesales of passenger vehicles and GST collections crossing Rs 1.50 lakh crore for the third straight month in May also added to the optimism. The 30-share BSE Sensex climbed 118.57 points or 0.19 per cent to settle at 62,547.11.
Broader market underperformed the headline indices
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Anil Ambani's Reliance Power tops the table with 3.46 million shareholders
An opportunity to enter a burgeoning sector at a low valuation and favourable policies are propelling some of India's largest corporate groups to scoop up drone start-ups. "Indian corporations lost the race in aerospace and space tech. "No one wants to miss the bus this time. "These are seasoned businessmen and they realise that the market cap of tech companies with problem-solving capabilities will exponentially rise in future," says Vipul Singh, CEO of Aarav Unmanned Systems (AUS).
Chief executive officers (CEOs) across sectors have expressed intentions to expand capacities, expecting the government's target to invest a record Rs 11.11 trillion on infrastructure development will act as a catalyst for a jump in consumer demand. "With the government planning a capex of Rs 11.11 trillion, private sector investment will come in a big way. Companies will be preparing for it right from today," H M Bangur, chairman of Shree Cement, told Business Standard. For the past few years, the investment scene in India has been dominated by government capital expenditures; private investments in the manufacturing sector have remained muted.
Benchmark indices continued their downtrend on Monday, with the Sensex falling 84.88 points, tracking selling in index majors Infosys and Reliance Industries along with weak global equities. The 30-share BSE benchmark went lower by 84.88 points or 0.15 per cent to settle at 56,975.99 after recovering some lost ground during the fag-end of trade. During the day, it tanked 648.25 points or 1.13 per cent to 56,412.62. The NSE Nifty declined 33.45 points or 0.20 per cent to close at 17,069.10.
The Sensex after moving in a range of 10,556 to 10,690, finally ended with a loss of 31 points at 10,595.
Equity benchmarks shrugged off lacklustre global cues to clock smart gains on Tuesday, buoyed by strong buying interest in index heavyweights Reliance Industries and HDFC twins. However, a depreciating rupee and unabated foreign fund outflows capped the gains, traders said. The 30-share BSE Sensex rallied 562.75 points or 0.94 per cent to settle at 60,655.72.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The NSE Nifty too soared by 118 points to close at 3641.
Benchmark stock indices Sensex and Nifty closed with losses in highly volatile trade on Thursday as banking and financial stocks retreated amid a weak trend in global equity markets. The 30-share BSE Sensex declined 89.14 points or 0.15 per cent to settle at 57,595.68. During the day, it touched a low of 57,138.51 and a high of 57,827.99. The broader NSE Nifty dipped 22.90 points or 0.13 per cent to settle at 17,222.75.
Five out of the top 10 companies in Fortune 500 list of Indian companies are from the oil sector.
Aided by the $57.8-billion merger of HDFC Bank and HDFC, India Inc reported its highest ever mergers and acquisitions in calendar 2022 at $171 billion as against deals worth $145 billion announced last year. The acquisition by the Adani group across cement, media and ports dominated the headlines with the conglomerate making its foray into the cement sector by buying Swiss materials firm Holcim's stake in Ambuja Cements for $6.5 billion. The Adani family's additional $4-billion open offer for Ambuja did not get a response because shareholders preferred to stay invested with the new owner.
HCL was followed by Tech Mahindra, Asian Paints, Bharti Airtel, HDFC Bank, L&T, TCS, M&M, Nestle India and Infosys. NSE Nifty rose 23.75 points or 0.20 per cent to 11,896.80.
Investors' wealth on Tuesday jumped by over Rs 2.51 lakh crore, in tandem with a sharp recovery in equities after four days of heavy declines. The 30-share BSE Sensex opened on a weak note and tumbled 581.93 points or 1.10 per cent to 52,260.82 during the day amid firming oil prices and relentless selling by foreign institutional investors. Amid bouts of volatility, the benchmark touched a high of 53,484.26 and a low of 52,260.82 during the trade. It finally settled at 53,424.09, higher by 581.34 points or 1.10 per cent.
On the Sensex chart, index heavyweight HDFC rallied over 8 per cent. Other prominent gainers were IndusInd Bank, Mahindra and Mahindra, Asian Paints, Bajaj Finance, HDFC Bank and Ultratech Cement.
ONGC was the top loser in the Sensex pack, cracking over 16 per cent, followed by Reliance Industries, IndusInd Bank, Tata Steel, TCS, SBI, ICICI Bank and Bajaj Auto.
