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As on Apr 22, 2021 12:00 AM Your results on : Quick Review    
Shares end near day's high; banks stocks shine
22-Apr-2021 (15:35)

The domestic equity benchmarks ended near the day's high on Thursday. Trading was volatile due to expiry of weekly index options on the NSE. Banks, financials, metals and realty stocks advanced while FMCG, IT and pharma shares corrected.

As per provisional closing data, the barometer index, the S&P BSE Sensex, rose 374.87 points or 0.79% to 48,080.67. The Nifty 50 index added 109.75 points or 0.77% to 14,406.15.

In the broader market, the S&P BSE Mid-Cap index gained 0.25% while the S&P BSE Small-Cap index advanced 0.59%.

The market breadth was positive. On the BSE, 1768 shares rose and 1153 shares fell. A total of 163 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 14,38,63,870 with 30,58,640 deaths. India reported 22,91,428 active cases of COVID-19 infection and 1,84,657 deaths while 1,34,54,880 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

The Maharashtra government on Wednesday imposed additional restrictions on travel within the state and the city, and a further reduction in attendance in government offices and such private offices that fall under the essential or exempted category. These curbs will kick in at 8 PM Thursday and be in force till 7 AM on 1 May 2021.

In its second-highest single-day jump thus far, Maharashtra reported 67,468 new coronavirus cases on Wednesday, taking its tally beyond the 40-lakh mark. Maharashtra also recorded an all-time high of 568 deaths. The toll rose to 61,911.

Finance Minister Nirmala Sitharaman has urged the industry to wait and watch for next few days to assess the situation amid the second wave of COVID-19 pandemic and assured them of full government support. She was addressing the FICCI National Executive Committee Members through virtual mode.

Economy:

With economic activities getting affected across the country due to curbs imposed by states amid surge in COVID-19 cases, Care Ratings has revised down its forecast for GDP growth to 10.2% in 2021-22 from earlier projection of 10.7-10.9%. This is the third revision by the rating agency in the last one month.

Domestic rating agency ICRA on Tuesday cut its 2021-22 growth estimate by 0.5% on the upper end, as a newer spate of lockdowns and restrictions get imposed in pockets to arrest the rising COVID-19 cases. The agency now expects the economy to grow 10-10.5% in 2021-22, against the 10-11% estimated earlier.

Buzzing Index:

The Nifty Bank index rose 1.99% to 31,732.20. The index fell 3.11% in the past three sessions.

ICICI Bank (up 3.45%), Kotak Mahindra Bank (up 2.14%), HDFC Bank (up 2.13%), RBL Bank (up 1%), IDFC First Bank (up 0.89%) and Axis Bank (up 0.79%) advanced while IndusInd Bank declined 1.18%.

State Bank of India (SBI) advanced 2.03% to Rs 336.30. The insurance regulator IRDAI has imposed a penalty of Rs 25 lakh on SBI General lnsurance Company, an unlisted subsidiary of SBI. The penalty has been imposed for non-compliance with minimum obligations under Motor Third-Party Business as specified in IRDA regulation 2015.

Earning Impact:

Network18 Media & Investments rallied 12.47% to Rs 43.30. The company's consolidated net profit surged 241.91% to Rs 205.80 crore on 3.40% decline in revenue from operations to Rs 1,414.70 crore in Q4 FY21 over Q4 FY20.

TV18 Broadcast hit an upper circuit of 20% at Rs 33.05. On a consolidated basis, the company's net profit surged 77.02% to Rs 251.08 crore on 5.40% decline in revenue from operations to Rs 1,347.94 crore in Q4 FY21 over Q4 FY20. The group debt sharply reduced to Rs 893 crore in March 2021, from Rs 1,775 crore in March 2020.

Tata Steel BSL jumped 4.08% to Rs 59.95 after the company's consolidated net profit surged to Rs 1913.35 crore in Q4 FY21 from Rs 5.93 crore in Q4 FY20. Net sales during the quarter increased by 66.6% year-on-year (YoY) to Rs 6773.81 crore.

Nestle India fell 1.80% to Rs 16778.90. On a standalone basis, the company's net profit jumped 14.6% to Rs 602.25 crore on 8.9% increase in net sales to Rs 3,600.20 crore in Q1 FY21 over Q1 FY20. During the quarter ended, domestic sales soared 10.2% year-on-year (Y-o-Y) driven by volume & mix and was broad based. Export sales tumbled 12.9% Y-o-Y due to lower exports to affiliates. Demand in out of home channel further improved in the quarter but continued to be impacted by COVID-19, the company said.

While the Nestlé India family has learnt to cope with the operating volatility in the pandemic, recent sharp escalations in key raw material prices poses challenges that we will resolutely respond to, while maintaining the integrity of our business model, Suresh Narayanan, the chairman and managing director (MD) of Nestle India said.

ICICI Securities soared 6.68% to Rs 453.95. The company's consolidated profit after tax (PAT) for Q4FY21 stood at Rs 329 crore as against Rs 156 crore in Q4FY20, up 111%, on account of growth in revenue and improvement in margins. Consolidated revenue of Rs 739 crore in Q4FY21 as compared to Rs 482 crore in Q4FY20, up 53%, aided by strong all-round performance in equities & allied business, distribution business, distribution business, private wealth management business, as well as investment banking business.

In Q4FY21, equities and allied business revenue rose 46% year-on-year to Rs 482 crore. Distribution revenue stood at Rs 141 crore in Q4FY21 up 22% against Q4FY20. I-Sec's Private Wealth Management (PWM) business reported Rs 158 crore of revenue in Q4FY21 up 82% on-year. The company's Issuer Services and Advisory business revenue stood at Rs 53 crore in Q4FY21, up 441% on-year.

Tejas Networks hit an upper circuit of 5% at Rs 176.05 after the company reported a consolidated net profit of Rs 33.55 crore in Q4 FY21 compared with net loss of Rs 126.53 crore in Q4 FY20. Revenue from operations increased by 269.34% year-on-year (YoY) to Rs 201.55 crore.

Sanjay Nayak, managing director and CEO of Tejas Networks said, We are seeing positive tailwinds for our business in India due to increased demand for high-speed broadband connections and Government policy for promoting domestic telecom equipment. We continued to see strong order inflows as well as new customer wins, resulting in a VoY booking growth of 54% and we ended the year with an order book of Rs 679 crore.

Stocks in Spotlight:

Indiabulls Housing Finance jumped 6.75% to Rs 176.25. The company entered into a strategic co-lending partnership with HDFC to offer housing loans to homebuyers at competitive rates. Indiabulls Housing Finance will originate retail home loans as per jointly drawn up credit policy and retain 20% of the loan in it's books and 80% will be on HDFC books. The arrangement is part of Indiabulls Housing Finance's balance sheet light growth model.

Caplin Point Laboratories rose 2.42% to Rs 519.45 after the company said its subsidiary received a final approval from the US drug regulator for its Abbreviated New Drug Application, neostigmine methylsulfate injection. The injection is indicated for the reversal of the effects of non-depolarizing neuromuscular blocking agents (NMBAs) after surgery. According to IQVIA (IMS Health), neostigmine methylsulfate injection had US sales data of approximately $20 million for the 12-month period ending December 2020.

Cholamandalam Investment and Finance Company gained 2.45% to Rs 519.45. The company's board said that it will consider issuing non‐convertible debentures (NCDs) in its meeting on 7 May 2021. The company's board will consider issuing non‐convertible debentures (secured debentures and unsecured debentures in the nature of subordinated debt and perpetual debt) in FY2021‐22. The board will also consider final dividend for the financial year ended 31 March 2021.

Global Markets:

European shares rose across the board while most Asian stocks advanced on Thursday following an overnight bounce on Wall Street.

The European Central Bank is scheduled to deliver its latest monetary policy announcement today, although no major shifts are expected.

In US, Wall Street rebounded on Wednesday after a two-day decline in a broad rally as a tilt toward stocks poised to benefit from a recovering economy offset Netflix Inc's sell-off after its disappointing results a day earlier. Both the S&P 500 and Dow hit all-time highs.

Nifty ends below 14,300; bank shares extend losses
20-Apr-2021 (15:32)
Sensex, Nifty end with heavy losses
19-Apr-2021 (15:34)
Sensex, Nifty end almost flat; broader market outperforms
16-Apr-2021 (15:32)
Nifty closes near 14,600; Infy declines 2%
15-Apr-2021 (15:33)
Sensex jumps 660 pts after yesterday's selloff
13-Apr-2021 (15:31)
Sensex tanks 1700 pts as rising Covid cases spook investors
12-Apr-2021 (15:35)
Sensex, Nifty end with minor cuts
09-Apr-2021 (15:30)
Sensex, Nifty end with minor gains; metal shares rally
08-Apr-2021 (15:32)
Sensex, Nifty end with strong gains after RBI policy outcome
07-Apr-2021 (15:31)
Sensex, Nifty end almost flat; pharma shares climb
06-Apr-2021 (15:31)
Sensex, Nifty end with steep losses; IT stocks shine
05-Apr-2021 (15:33)
Sensex ends above 50K, Nifty crosses 14,850
01-Apr-2021 (15:34)
Sensex tumbles 627 pts; Nifty slips below 14,700
31-Mar-2021 (15:31)
Shares rally amid positive global cues; Sensex crosses 50,000 mark
30-Mar-2021 (15:31)
Sensex, Nifty snap two-day losing streak; VIX slumps 9%
26-Mar-2021 (15:32)
Nifty ends below 13,350 mark; auto stocks decline for 2nd day
25-Mar-2021 (15:33)
Shares end near day's low; PSU banks tumble
24-Mar-2021 (15:38)
Shares end with decent gains; banks advance
23-Mar-2021 (15:32)
Shares end with minor losses; bank stocks tumble
22-Mar-2021 (15:33)
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