Morning Alert..
*Manufacturing PMI slips to 58.8 in April from March's 16-year high*
Indian manufacturing slowed down a bit in April but growth stayed robust to signal the second-best improvement in the sector's health in three and a half years, said a private business on Thursday. The headline Purchasing Managers' Index (PMI), released by HSBC, slipped to 58.8 in April from a 16-year high of 59.1 recorded in March. “Firms experienced a sharp upturn in new business intakes and scaled up production accordingly. With sales expected to remain positive, buying levels were raised, and input stocks were increased to one of the greatest extents seen in over 19 years of data collection. Cost pressures ticked higher, though they remained historically mild, pushing up charge inflation to the strongest since January,” said the survey. A figure above 50 in the index denotes expansion and that below signifies contraction. Indian manufacturers reported robust demand from Indian and foreign clients in April when total new orders rose sharply. The pace of expansion was the second strongest since 2021.
*Bonds rally as US Federal Reserve says no plans for further rate hike*
Government bonds strengthened on Thursday as traders covered short positions following the US Federal Reserve Committee’s announcement of no further rate hikes. However, the US rate-setting panel indicated that interest rates would remain elevated for an extended period, potentially delaying expectations of rate cuts. The yield on the benchmark 10-year government bond fell by three basis points to settle at 7.16 per cent, against the 7.19 per cent on Tuesday. Money markets were shut on Wednesday on account of Maharashtra Day. “The market was relieved that at least there won’t be any hike; that is why we could see some rally (price) today,” said a dealer at a state-owned bank. “Primary dealers were covering their short bets. On the selling side, it was public sector banks, and private banks had bought a lot in the last few sessions, so they were on the selling side too,” he added. Price and yield move inversely.
* Global market action*
Dow Jones – Up by 1.11% or 421.12 points
FTSE – Up by 0.63% or 50.91 points
CAC – Down by 0.88% or 70.28 points
DAX – Down by 0.20% or 35.67 points
Gift Nifty – Up by 0.44% or 101.00 points
*FII/DII activities*
FII – Sold 964.47 Cr worth of shares
DII – Bought 1352.44 Cr worth of shares.
*Stocks with high delivery Percentage*
SKF India Ltd – 87.6%
Eris Lifesciences Ltd – 87.2%
Tube Investments of India Ltd – 86.2%
JB Chemicals & Pharms Ltd – 86%
Endurance Technologies Ltd – 83.9%
*Primary market activities*
IPO opening today
Shone Infosystems Ltd (NSE SME) – Issue size 11.06Cr
*Commodities updates*
Gold – Rs 73190/10gm, Silver – Rs 80200/kg, Brcrude – Rs 6592/barrel, Copper – Rs 846.50/kg.
*Corporate News*
Coal India registers 18% growth in annual profit, tepid income rise.
Adani Ports Q4FY24 results: Net profit rises 76% to Rs 2,040 crore.
Godrej family begins process to untangle cross-holdings in listed entities.
*Manufacturing PMI slips to 58.8 in April from March's 16-year high*
Indian manufacturing slowed down a bit in April but growth stayed robust to signal the second-best improvement in the sector's health in three and a half years, said a private business on Thursday. The headline Purchasing Managers' Index (PMI), released by HSBC, slipped to 58.8 in April from a 16-year high of 59.1 recorded in March. “Firms experienced a sharp upturn in new business intakes and scaled up production accordingly. With sales expected to remain positive, buying levels were raised, and input stocks were increased to one of the greatest extents seen in over 19 years of data collection. Cost pressures ticked higher, though they remained historically mild, pushing up charge inflation to the strongest since January,” said the survey. A figure above 50 in the index denotes expansion and that below signifies contraction. Indian manufacturers reported robust demand from Indian and foreign clients in April when total new orders rose sharply. The pace of expansion was the second strongest since 2021.
*Bonds rally as US Federal Reserve says no plans for further rate hike*
Government bonds strengthened on Thursday as traders covered short positions following the US Federal Reserve Committee’s announcement of no further rate hikes. However, the US rate-setting panel indicated that interest rates would remain elevated for an extended period, potentially delaying expectations of rate cuts. The yield on the benchmark 10-year government bond fell by three basis points to settle at 7.16 per cent, against the 7.19 per cent on Tuesday. Money markets were shut on Wednesday on account of Maharashtra Day. “The market was relieved that at least there won’t be any hike; that is why we could see some rally (price) today,” said a dealer at a state-owned bank. “Primary dealers were covering their short bets. On the selling side, it was public sector banks, and private banks had bought a lot in the last few sessions, so they were on the selling side too,” he added. Price and yield move inversely.
* Global market action*
Dow Jones – Up by 1.11% or 421.12 points
FTSE – Up by 0.63% or 50.91 points
CAC – Down by 0.88% or 70.28 points
DAX – Down by 0.20% or 35.67 points
Gift Nifty – Up by 0.44% or 101.00 points
*FII/DII activities*
FII – Sold 964.47 Cr worth of shares
DII – Bought 1352.44 Cr worth of shares.
*Stocks with high delivery Percentage*
SKF India Ltd – 87.6%
Eris Lifesciences Ltd – 87.2%
Tube Investments of India Ltd – 86.2%
JB Chemicals & Pharms Ltd – 86%
Endurance Technologies Ltd – 83.9%
*Primary market activities*
IPO opening today
Shone Infosystems Ltd (NSE SME) – Issue size 11.06Cr
*Commodities updates*
Gold – Rs 73190/10gm, Silver – Rs 80200/kg, Brcrude – Rs 6592/barrel, Copper – Rs 846.50/kg.
*Corporate News*
Coal India registers 18% growth in annual profit, tepid income rise.
Adani Ports Q4FY24 results: Net profit rises 76% to Rs 2,040 crore.
Godrej family begins process to untangle cross-holdings in listed entities.
*News Headlines from Business News Agencies :*
*Business Standard :*
📝 Vodafone Idea in talks to avail loans worth $1.8 billion, says report
📝 Blue Star Q4FY24 results: Net profit declines 29% to Rs 159.71 crore
📝 Cognizant Q1 profit declines 6% to $546 million, revenue dips 1.2%
📝 Wipro to implement Independent Health's medicare prescription payment plan
📝 ICICI Bank denies report of MD & CEO Sandeep Bakhshi wanting to quit
📝 MDH, Everest row: Centre asks state govts to test spices for quality check
📝 Go First planes need parts; lessors to take longer to fly them out of India
📝 Air India deploys A350 on international route with Delhi-Dubai flight
📝 India GCCs emerge as proof-of-concept foundries for GenAI applications
📝 ArcelorMittal March quarter results: Core profit at $1.96 bn, tops forecast
📝 India needs to expand universal health coverage for ageing population: ADB
📝 RBI's forex intervention eases as conditions turn favourable for rupee
*Economic Times :*
📝 Coforge to acquire 54% stake in Cigniti Technologies at Rs 1,415 per share
📝 India among fastest-growing markets with potential to be among top 10: Airbnb CBO
📝 Fin inclusion, digital growth to drive payments bank momentum in India: Airtel Payments Bank CEO
📝 China, Hong Kong account for 56 pc of India's total imports of electronics, telecom, electrical products: GTRI
📝 Electric bike sales decline 50% in April amid subsidy changes
📝 Agilitas appoints Nirdosh Chouhan as chief technology and product officer
📝 Maiva Pharma raises Rs 1000 crore from Morgan Stanley Private Equity, InvAscent
📝 Indus Towers facing an Rs 60 cr shortfall in collections from Vodafone Idea in Q4
📝 OECD revises India's FY25 growth forecast upward to 6.6%
📝 Paytm Money CEO Varun Sridhar steps down; Rakesh Singh appointed as chief executive
📝 NPCI inks pact with Bank of Namibia for developing UPI-like instant payment system
*Mint :*
📝 Cognizant lowers revenue outlook for 2024 after slow March quarter
📝 UPI transaction volume declined to ₹19.64 lakh crore in April.
📝 Adani Enterprises Q4 Results: Net profit drops 38% to ₹451 crore
📝 Adani Ports Q4 net profit jumps 76% YoY to ₹2,040 cr; ₹6 dividend declared
📝 Anthill Ventures plans $100 million hybrid fund for Indian startups
📝 NCLAT dismisses minority shareholders' plea in Minosha India case
📝 Adani Group eyes 5 GW electrolyzer capacity with up to $3 bn investment
📝 India's manufacturing activity in April second strongest in 3.5 years
📝 India's Serum Institute faces lawsuit on Covishield vaccine over girl's death
📝 Microsoft and Brookfield sign biggest-ever clean power deal
📝 Coforge Q4 net profit down 5.6% YoY to ₹229.2 cr
*Business Standard :*
📝 Vodafone Idea in talks to avail loans worth $1.8 billion, says report
📝 Blue Star Q4FY24 results: Net profit declines 29% to Rs 159.71 crore
📝 Cognizant Q1 profit declines 6% to $546 million, revenue dips 1.2%
📝 Wipro to implement Independent Health's medicare prescription payment plan
📝 ICICI Bank denies report of MD & CEO Sandeep Bakhshi wanting to quit
📝 MDH, Everest row: Centre asks state govts to test spices for quality check
📝 Go First planes need parts; lessors to take longer to fly them out of India
📝 Air India deploys A350 on international route with Delhi-Dubai flight
📝 India GCCs emerge as proof-of-concept foundries for GenAI applications
📝 ArcelorMittal March quarter results: Core profit at $1.96 bn, tops forecast
📝 India needs to expand universal health coverage for ageing population: ADB
📝 RBI's forex intervention eases as conditions turn favourable for rupee
*Economic Times :*
📝 Coforge to acquire 54% stake in Cigniti Technologies at Rs 1,415 per share
📝 India among fastest-growing markets with potential to be among top 10: Airbnb CBO
📝 Fin inclusion, digital growth to drive payments bank momentum in India: Airtel Payments Bank CEO
📝 China, Hong Kong account for 56 pc of India's total imports of electronics, telecom, electrical products: GTRI
📝 Electric bike sales decline 50% in April amid subsidy changes
📝 Agilitas appoints Nirdosh Chouhan as chief technology and product officer
📝 Maiva Pharma raises Rs 1000 crore from Morgan Stanley Private Equity, InvAscent
📝 Indus Towers facing an Rs 60 cr shortfall in collections from Vodafone Idea in Q4
📝 OECD revises India's FY25 growth forecast upward to 6.6%
📝 Paytm Money CEO Varun Sridhar steps down; Rakesh Singh appointed as chief executive
📝 NPCI inks pact with Bank of Namibia for developing UPI-like instant payment system
*Mint :*
📝 Cognizant lowers revenue outlook for 2024 after slow March quarter
📝 UPI transaction volume declined to ₹19.64 lakh crore in April.
📝 Adani Enterprises Q4 Results: Net profit drops 38% to ₹451 crore
📝 Adani Ports Q4 net profit jumps 76% YoY to ₹2,040 cr; ₹6 dividend declared
📝 Anthill Ventures plans $100 million hybrid fund for Indian startups
📝 NCLAT dismisses minority shareholders' plea in Minosha India case
📝 Adani Group eyes 5 GW electrolyzer capacity with up to $3 bn investment
📝 India's manufacturing activity in April second strongest in 3.5 years
📝 India's Serum Institute faces lawsuit on Covishield vaccine over girl's death
📝 Microsoft and Brookfield sign biggest-ever clean power deal
📝 Coforge Q4 net profit down 5.6% YoY to ₹229.2 cr
Equity99
Biggest monthly candle after 7 months consolidation. Look at the monthly chart of AARTRCH SOLONICS. Stock has given strong candle stick break out after 7 months consolidation. This kind of break out gives a huge one sided move in the next 3 months after…
Near to hit upper circuit 264.45 Again hit high 262🚀🚀🚀🚀
What started on optimistic note turned out be a blood bath on the Dalal Street as Fed Chair Jerome Powell hinted that if interest rates are anticipated to stay higher for an extended duration and bond yields remain at elevated levels, foreign investors may opt to persist on the selling side of the trade for the time being. Elevated bond yields may increase the risk perception in the market. Foreign investors may exercise caution and prefer to reduce their exposure until there is greater clarity or confidence in the economic outlook.
There's a historical trend of market corrections before elections, uncertainty about potential policy changes or the outcome of the elections can lead investors to be cautious and pull back from the market from May to mid-July. Investors tend to prioritize sectors that promise growth and make substantial contributions to the economy. These sectors include Information Technology (IT), Consumer Goods, Household Appliances, Power, Renewable Energy, and Realty, to grab attention in coming time.
There's a historical trend of market corrections before elections, uncertainty about potential policy changes or the outcome of the elections can lead investors to be cautious and pull back from the market from May to mid-July. Investors tend to prioritize sectors that promise growth and make substantial contributions to the economy. These sectors include Information Technology (IT), Consumer Goods, Household Appliances, Power, Renewable Energy, and Realty, to grab attention in coming time.
Morning Aert..
*Global biofuel alliance sets up three-pronged work plan, says govt*
The Global Biofuel Alliance (GBA) has adopted a work plan focused on assessing country landscapes, drafting policy frameworks, and conducting biofuel workshops, petroleum and natural gas ministry officials said. These were adopted as immediate goals at a key meeting of the body held on the sidelines of the G20 deliberations in Brazil last month. And, the officials added that the GBA has decided to take stock of them in July. “India has also suggested three potential workstreams to support biofuel trade, increase awareness in biofuels, and identify support mechanisms for enhanced adoption of biofuels,” an official said. Launched on the sidelines of the 2023 G20 summit in New Delhi, the GBA aims to reshape the global landscape and expedite uptake of biofuels worldwide. It also hopes to set standards for biofuel, expand the size of formal biofuel markets and better map demand and supply. The India-led initiative has seen 24 countries signing up so far, with special interest generated among African nations. Apart from G20 member South Africa, non-G20 nations like Kenya and Uganda are on the list, while Tanzania is keen on joining, sources said.
*Govt announces bond buyback: Short-term yields to soften, liquidity to ease*
The Centre's decision to repurchase short-term government bonds, maturing within 6-9 months, is expected to lower the yields and ease liquidity conditions, said market participants. On Friday, the Reserve Bank of India (RBI) had announced its plan to repurchase securities worth Rs 40,000 crore. The securities scheduled for buyback include G-Secs 6.18 per cent 2024, 9.15 per cent 2024, and 6.89 per cent 2025, according to RBI's release. Notably, there is no specified amount for individual securities, and the auction process will employ the multiple price method, said the RBI. The auction will be conducted on Thursday. This kind of repurchase was last seen in March 2018. The decision came amid observations that while government spending surged between February and April, there is an anticipation of a slowdown leading up to the June election results.
* Global market action*
Dow Jones – Up by 0.10% or 39.45 points
FTSE – Up by 0.51% or 41.34 points
CAC – Up by 0.54% or 42.92 points
DAX – Up by 0.59% or 105.10 points
Gift Nifty – Up by 0.47% or 106.00 points
*FII/DII activities*
FII – Sold 964.47 Cr worth of shares
DII – Bought 1352.44 Cr worth of shares.
*Stocks with high delivery Percentage*
AIA Engineering Ltd – 92.7%
Ratnamani Metals & Tubes Ltd – 87.4%
Endurance Technologies Ltd – 87%
TTK Prestige Ltd – 86.5%
Timken India Ltd – 85.3%
*Primary market activities*
IPOs opening today
Winsol Engineers Ltd (NSE SME) – Issue size 23.36Cr
Refractory Shapes Ltd (NSE SME) – Issue size 18.60Cr
Indegene Ltd (Main board) – Issue size 1841.76Cr
*Commodities updates*
Gold – Rs 73330/10gm, Silver – Rs 81060/kg, Brcrude – Rs 6542/barrel, Copper – Rs 855.15/kg.
*Corporate News*
IIHL sets sights on $50 bn valuation by 2030: Chairman Ashok Hinduja.
M&M Finance Q4FY24 results: Net profit declines 10% to Rs 619 crore.
*Global biofuel alliance sets up three-pronged work plan, says govt*
The Global Biofuel Alliance (GBA) has adopted a work plan focused on assessing country landscapes, drafting policy frameworks, and conducting biofuel workshops, petroleum and natural gas ministry officials said. These were adopted as immediate goals at a key meeting of the body held on the sidelines of the G20 deliberations in Brazil last month. And, the officials added that the GBA has decided to take stock of them in July. “India has also suggested three potential workstreams to support biofuel trade, increase awareness in biofuels, and identify support mechanisms for enhanced adoption of biofuels,” an official said. Launched on the sidelines of the 2023 G20 summit in New Delhi, the GBA aims to reshape the global landscape and expedite uptake of biofuels worldwide. It also hopes to set standards for biofuel, expand the size of formal biofuel markets and better map demand and supply. The India-led initiative has seen 24 countries signing up so far, with special interest generated among African nations. Apart from G20 member South Africa, non-G20 nations like Kenya and Uganda are on the list, while Tanzania is keen on joining, sources said.
*Govt announces bond buyback: Short-term yields to soften, liquidity to ease*
The Centre's decision to repurchase short-term government bonds, maturing within 6-9 months, is expected to lower the yields and ease liquidity conditions, said market participants. On Friday, the Reserve Bank of India (RBI) had announced its plan to repurchase securities worth Rs 40,000 crore. The securities scheduled for buyback include G-Secs 6.18 per cent 2024, 9.15 per cent 2024, and 6.89 per cent 2025, according to RBI's release. Notably, there is no specified amount for individual securities, and the auction process will employ the multiple price method, said the RBI. The auction will be conducted on Thursday. This kind of repurchase was last seen in March 2018. The decision came amid observations that while government spending surged between February and April, there is an anticipation of a slowdown leading up to the June election results.
* Global market action*
Dow Jones – Up by 0.10% or 39.45 points
FTSE – Up by 0.51% or 41.34 points
CAC – Up by 0.54% or 42.92 points
DAX – Up by 0.59% or 105.10 points
Gift Nifty – Up by 0.47% or 106.00 points
*FII/DII activities*
FII – Sold 964.47 Cr worth of shares
DII – Bought 1352.44 Cr worth of shares.
*Stocks with high delivery Percentage*
AIA Engineering Ltd – 92.7%
Ratnamani Metals & Tubes Ltd – 87.4%
Endurance Technologies Ltd – 87%
TTK Prestige Ltd – 86.5%
Timken India Ltd – 85.3%
*Primary market activities*
IPOs opening today
Winsol Engineers Ltd (NSE SME) – Issue size 23.36Cr
Refractory Shapes Ltd (NSE SME) – Issue size 18.60Cr
Indegene Ltd (Main board) – Issue size 1841.76Cr
*Commodities updates*
Gold – Rs 73330/10gm, Silver – Rs 81060/kg, Brcrude – Rs 6542/barrel, Copper – Rs 855.15/kg.
*Corporate News*
IIHL sets sights on $50 bn valuation by 2030: Chairman Ashok Hinduja.
M&M Finance Q4FY24 results: Net profit declines 10% to Rs 619 crore.
Aartech Solonic
The stock after a tremendous performance of fantastic back to back returns has entered ESM : Stage 2 which also gives you opportunity to accumulate from lower levels.
The fundamentals and the growth story will remain constant, no need to panic, accumulate with the opportunity from the lower levels.
The stock after a tremendous performance of fantastic back to back returns has entered ESM : Stage 2 which also gives you opportunity to accumulate from lower levels.
The fundamentals and the growth story will remain constant, no need to panic, accumulate with the opportunity from the lower levels.
Morning Alert..
*RBI provisioning norms singe PSU banks, infrastructure financers*
Shares of the state-owned banks and project financers plunged on Monday, days after the Reserve Bank of India (RBI) proposed to tighten the project financing norms, which require lenders to set aside higher capital for doling out loans to under-construction projects. Shares of Power Finance Corporation (PFC) and REC fell the most at 9 per cent and 7.5 per cent, respectively. The Nifty PSU Bank index slumped 3.7 per cent with Punjab National Bank (PNB) leading the fall at 6.4 per cent. Canara Bank and Bank of Baroda were other major losers. Top lender State Bank of India (SBI) fell nearly 3 per cent. The RBI on Friday released a draft circular on project financing in a bid to strengthen balance sheets. Under the proposed norms, lenders will have to make provisions of up to 5 per cent of the outstanding exposures under construction projects. This would reduce to 2.5 per cent once the asset was operational. It would decline further to 1 per cent when 20 per cent of the loans are repaid and the project has the adequate cash flow to repay current obligations. The circular covers not just project financing but also commercial real estate financing for all lenders. More importantly, the guidelines are to be applicable immediately and will include the current outstanding exposure.
* Global market action*
Dow Jones – Up by 0.43% or 166.93 points
FTSE – Up by 0.51% or 41.34 points
CAC – Up by 0.49% or 39.07 points
DAX – Up by 0.96% or 173.61 points
Gift Nifty – Up by 0.00% or 0.00 points
*FII/DII activities*
FII – Sold 2168.75 Cr worth of shares
DII – Bought 781.39 Cr worth of shares.
*Stocks with high delivery Percentage*
Garware Technical Fibres Ltd – 96.4%
P&G Hygiene & Healthcare Ltd – 95.8%
SKF India Ltd – 90.3%
Vinati Organics Ltd – 90.2%
Elgi Equipments Ltd – 86.1%
*Primary market activities*
IPOs opening today
Silkflex Polymers (India) Ltd (NSE SME) – Issue size 18.11Cr
Finelistings Technologies Ltd (BSE SME) – Issue size 13.53Cr
*Commodities updates*
Gold – Rs 73795/10gm, Silver- Rs 83000/kg, Brcrude – Rs 6538/barrel, Copper – Rs 866.40/kg.
*Corporate News*
Adani's Dhamra LNG in talks with banks to borrow $600 million for gas unit.
Indian Bank Q4FY24 results: Net profit rises 55% to Rs 2,247 crore.
Coromandel expands agtech footprint, increases shareholding in Ecozen.
*RBI provisioning norms singe PSU banks, infrastructure financers*
Shares of the state-owned banks and project financers plunged on Monday, days after the Reserve Bank of India (RBI) proposed to tighten the project financing norms, which require lenders to set aside higher capital for doling out loans to under-construction projects. Shares of Power Finance Corporation (PFC) and REC fell the most at 9 per cent and 7.5 per cent, respectively. The Nifty PSU Bank index slumped 3.7 per cent with Punjab National Bank (PNB) leading the fall at 6.4 per cent. Canara Bank and Bank of Baroda were other major losers. Top lender State Bank of India (SBI) fell nearly 3 per cent. The RBI on Friday released a draft circular on project financing in a bid to strengthen balance sheets. Under the proposed norms, lenders will have to make provisions of up to 5 per cent of the outstanding exposures under construction projects. This would reduce to 2.5 per cent once the asset was operational. It would decline further to 1 per cent when 20 per cent of the loans are repaid and the project has the adequate cash flow to repay current obligations. The circular covers not just project financing but also commercial real estate financing for all lenders. More importantly, the guidelines are to be applicable immediately and will include the current outstanding exposure.
* Global market action*
Dow Jones – Up by 0.43% or 166.93 points
FTSE – Up by 0.51% or 41.34 points
CAC – Up by 0.49% or 39.07 points
DAX – Up by 0.96% or 173.61 points
Gift Nifty – Up by 0.00% or 0.00 points
*FII/DII activities*
FII – Sold 2168.75 Cr worth of shares
DII – Bought 781.39 Cr worth of shares.
*Stocks with high delivery Percentage*
Garware Technical Fibres Ltd – 96.4%
P&G Hygiene & Healthcare Ltd – 95.8%
SKF India Ltd – 90.3%
Vinati Organics Ltd – 90.2%
Elgi Equipments Ltd – 86.1%
*Primary market activities*
IPOs opening today
Silkflex Polymers (India) Ltd (NSE SME) – Issue size 18.11Cr
Finelistings Technologies Ltd (BSE SME) – Issue size 13.53Cr
*Commodities updates*
Gold – Rs 73795/10gm, Silver- Rs 83000/kg, Brcrude – Rs 6538/barrel, Copper – Rs 866.40/kg.
*Corporate News*
Adani's Dhamra LNG in talks with banks to borrow $600 million for gas unit.
Indian Bank Q4FY24 results: Net profit rises 55% to Rs 2,247 crore.
Coromandel expands agtech footprint, increases shareholding in Ecozen.
Strong Performer Stock ( Corrected Due to Esm 1 )
UNIVASTU INDIA CMP 189
TEST RESISTANCE 225 / 250 / 280 SL 150
READY TO OPEN LOWER CIRCUIT
UNIVASTU INDIA CMP 189
TEST RESISTANCE 225 / 250 / 280 SL 150
READY TO OPEN LOWER CIRCUIT
*News Headlines from Business News Agencies:*
*Business Standard*
📝 Investors pull $9.9 billion from hedge funds in March: NASDAQ eVestment
📝 Wipro, Microsoft team up for AI virtual assistants for financial services
📝 Marico Q4FY24 results: Net profit up 5% at Rs 318 cr, revenue rises 1.7%
📝 Elections will not have impact on CV sales: Ashok Leyland MD & CEO
📝 Quadria Capital acquires minority stake in NephroPlus for $102 million
📝 India's airlines to have 50% mkt share of int'l passengers by FY28: CRISIL
📝 FirstCry's parent company Brainbees Solutions re-files documents for IPO
📝 India and Ghana agree to operationalise UPI link within six months
📝 Indian Bank Q4 results: Net profit jumps 55% to Rs 2,247 crore, NII up 9%
📝 Petrobras loads diesel from RIL on crude tanker in India after delay
📝 Investments through P-note surge to near 6-yr high at Rs 1.5 trillion
📝 Coromandel expands agtech footprint, increases shareholding in Ecozen
*Economic Times*
📝 Railways clocks 1.46% higher freight loading in April 2024
📝 Marico eyes foods portfolio to be 2x of current scale in FY27
📝 Zee Media Corporation terminates CEO Abhay Ojha
📝 SBI invested Rs 714 crore in TCG’s Gurugram project
📝 CBAM, permanent establishment rules, transfer pricing key in India’s outbound FDI: EY
📝 We expect strong momentum to continue in business: Warren Harris, Tata Tech
📝 VST Zetor launches new range of tractors
📝 Sterlite Power names Reshu Madan as CEO of global products, services business
📝 RITES to undertake safety assessment of Vande Bharat trains
📝 Growing online enrolments, rising tuition fee to drive revenue for education sector: Ind-Ra
📝 CarTrade Tech Q4 PAT grows 43% YoY, recorded highest revenue
📝 Hero Realty bags Indian Green Building Council's Gold Rating for green project
*Mint*
📝 KKR wins bidding war to acquire medical devices firm Healthium
📝 India Bank Q4 Result: NII up 9.2% at ₹6,015 crore
📝 Gujarat Gas appoints Rajesh Sivadasan as CFO of the company
📝 India’s services sector is still booming, but signs of weakness are visible
📝 Jack Dorsey leaves Bluesky board, calls X ‘Freedom Technology’
📝 PwC India unveils a suite of GenAI-enabled products for CFOs
📝 Singtel-owned Optus names broadband network boss Stephen Rue as new CEO
📝 Lupin gets US FDA approval for Travoprost Ophthalmic Solution USP
📝 CG Power Q4 PAT down 45%, EBITDA margin stood at 13%
📝 KuCoin Introduces Lifeform in Its 27th Spotlight IEO, Pioneering Decentralized
📝 Bajaj Healthcare appoints Dayashankar Patel as CFO of the company
*Business Standard*
📝 Investors pull $9.9 billion from hedge funds in March: NASDAQ eVestment
📝 Wipro, Microsoft team up for AI virtual assistants for financial services
📝 Marico Q4FY24 results: Net profit up 5% at Rs 318 cr, revenue rises 1.7%
📝 Elections will not have impact on CV sales: Ashok Leyland MD & CEO
📝 Quadria Capital acquires minority stake in NephroPlus for $102 million
📝 India's airlines to have 50% mkt share of int'l passengers by FY28: CRISIL
📝 FirstCry's parent company Brainbees Solutions re-files documents for IPO
📝 India and Ghana agree to operationalise UPI link within six months
📝 Indian Bank Q4 results: Net profit jumps 55% to Rs 2,247 crore, NII up 9%
📝 Petrobras loads diesel from RIL on crude tanker in India after delay
📝 Investments through P-note surge to near 6-yr high at Rs 1.5 trillion
📝 Coromandel expands agtech footprint, increases shareholding in Ecozen
*Economic Times*
📝 Railways clocks 1.46% higher freight loading in April 2024
📝 Marico eyes foods portfolio to be 2x of current scale in FY27
📝 Zee Media Corporation terminates CEO Abhay Ojha
📝 SBI invested Rs 714 crore in TCG’s Gurugram project
📝 CBAM, permanent establishment rules, transfer pricing key in India’s outbound FDI: EY
📝 We expect strong momentum to continue in business: Warren Harris, Tata Tech
📝 VST Zetor launches new range of tractors
📝 Sterlite Power names Reshu Madan as CEO of global products, services business
📝 RITES to undertake safety assessment of Vande Bharat trains
📝 Growing online enrolments, rising tuition fee to drive revenue for education sector: Ind-Ra
📝 CarTrade Tech Q4 PAT grows 43% YoY, recorded highest revenue
📝 Hero Realty bags Indian Green Building Council's Gold Rating for green project
*Mint*
📝 KKR wins bidding war to acquire medical devices firm Healthium
📝 India Bank Q4 Result: NII up 9.2% at ₹6,015 crore
📝 Gujarat Gas appoints Rajesh Sivadasan as CFO of the company
📝 India’s services sector is still booming, but signs of weakness are visible
📝 Jack Dorsey leaves Bluesky board, calls X ‘Freedom Technology’
📝 PwC India unveils a suite of GenAI-enabled products for CFOs
📝 Singtel-owned Optus names broadband network boss Stephen Rue as new CEO
📝 Lupin gets US FDA approval for Travoprost Ophthalmic Solution USP
📝 CG Power Q4 PAT down 45%, EBITDA margin stood at 13%
📝 KuCoin Introduces Lifeform in Its 27th Spotlight IEO, Pioneering Decentralized
📝 Bajaj Healthcare appoints Dayashankar Patel as CFO of the company
UNIVASTU INDIA has given dream move after 2 years consolidation
Look at weekly chart of UNIVASTU INDIA. Stock was in consolidation range between 2022-2024. price range was 100-130. This year after breaking this consolidation range stock has shown dream run. Now it has cross it's long term trendline which indicates more move will come.
Now stock has resistance near 225/250 levels
Down side support exists near 175 levels
Look at weekly chart of UNIVASTU INDIA. Stock was in consolidation range between 2022-2024. price range was 100-130. This year after breaking this consolidation range stock has shown dream run. Now it has cross it's long term trendline which indicates more move will come.
Now stock has resistance near 225/250 levels
Down side support exists near 175 levels
*Closing Bell:*
• Sensex: 73511.85(-383.69)
• Nifty 50: 22302.50( -140.20)
• Nifty bank: 48285.35 (-609.95)
*Nifty top 5 Gainers:*
• HUL: 2,379.40 (+123.20)
• Tech Mahindra: 1,292.45 (+30.20)
• Britannia: 5,173.85 (+112.25)
• Nestle: 2,508.65 (+51.25)
• TCS: 3,978.95 (+57.90)
*Nifty top 5 losers:*
• Bajaj auto: 8,677.90 (-374.65)
• Power Grid Corp: 295.25 (-11.60 )
•ONGC: 273.60 (-8.55)
• IndusInd Bank: 1,452.55 (-44.95 )
• Hindalco: 620.20 (-18.60)
• Sensex: 73511.85(-383.69)
• Nifty 50: 22302.50( -140.20)
• Nifty bank: 48285.35 (-609.95)
*Nifty top 5 Gainers:*
• HUL: 2,379.40 (+123.20)
• Tech Mahindra: 1,292.45 (+30.20)
• Britannia: 5,173.85 (+112.25)
• Nestle: 2,508.65 (+51.25)
• TCS: 3,978.95 (+57.90)
*Nifty top 5 losers:*
• Bajaj auto: 8,677.90 (-374.65)
• Power Grid Corp: 295.25 (-11.60 )
•ONGC: 273.60 (-8.55)
• IndusInd Bank: 1,452.55 (-44.95 )
• Hindalco: 620.20 (-18.60)
Morning Alert..
*FMCG companies move fast on volume growth while rural beats urban*
Volume growth seems to be the latest mantra in the fast-moving consumer goods (FMCG) sector. This coincides with rural outpacing urban consumption in volume terms for the first time in five quarters, according to the NielsenIQ January-March data. While focussed on volume, FMCG companies are also looking at increasing advertising spends in order to grow their brands. Consumer goods major Hindustan Unilever (HUL) told its investors post its earnings call recently that its focus remains on driving competitive volume-led growth across its businesses. “We want to continue driving gross margin improvement. Even in this quarter, when we delivered a 23.4 per cent EBITDA (earnings before interest, tax, depreciation and amortisation), you saw a very strong 350 bps gross margin improvement. A large part of that got invested into advertising & promotion spends (A&P),” Ritesh Tiwari, chief financial officer at HUL, said.
*In FY23, investments in mining, construction and manufacturing fell*
Gross capital formation (GCF) — or investment — in manufacturing, construction, and mining sectors contracted in FY23 primarily due to a fall in export demand and low private consumption during the year, an industrywise analysis of the National Accounts Statistics 2024 data showed. The Ministry of Statistics and Programme Implementation (MoSPI) had released the data on Monday. The fall in GCF in the three sectors comes at a time when overall GCF in the economy grew by 6.9 per cent to Rs 55.3 trillion at constant prices in the financial year ended March 31, 2023 (FY23). GCF is a broad measure of investment in an economy and represents total value of physical assets including fixed assets, inventories and valuables. On the other hand, gross fixed capital formation (GFCF) is a narrow measure of investment in the economy and excludes inventories, or acquisitions of valuables. Real manufacturing GFC that contracted 5.4 per cent to Rs 9.4 trillion could be attributed to “subdued manufacturing growth” during the year as capacity utilisation was low and firms had less incentive to invest, said economists.
* Global market action*
Dow Jones – Down by 0.12% or 45.81 points
FTSE – Up by 1.22% or 100.18 points
CAC – Up by 0.99% or 79.04 points
DAX – Up by 1.40% or 254.84 points
Gift Nifty – Up by 0.01% or 2.50 points
*FII/DII activities*
FII – Sold 3668.84Cr worth of shares
DII – Bought 2304.50Cr worth of shares.
*Stocks with high delivery Percentage*
KPR Mills – 93.4%
ESAB India – 92%
SKP India – 90%
Timken India – 89.9%
RHI Magnesite India – 89.2%
*Primary market activities*
TBO Tek Ltd (Main board) – Issue size 1550.81Cr
Aadhar Housing Finance Ltd (Main board) – Issue size 3000Cr
TGIF Agribusiness Ltd (BSE SME) – Issue size 6.39Cr
Listing today
Storage Technologies and Automation Ltd (BSE SME) – Subscribed 278.82x
Amkay Products Ltd (BSE SME) – Subscribed 748.03x
Sai Swami Metals & Alloys Ltd (BSE SME) – Subscribed 543.72x
*Commodities updates*
Gold – Rs 73665/10gm, Silver – Rs 82831/kg, Brcrude – Rs 6576/barrel, Copper – Rs 864.05/kg.
*Corporate News*
Paytm's UPI transactions fall for 3rd straight mth, market share contracts.
Axis Bank to bring in expats in latest move to woo global companies.
FY25 to be best year for Happiest Minds since IPO: Chairman Ashok Soota.
*FMCG companies move fast on volume growth while rural beats urban*
Volume growth seems to be the latest mantra in the fast-moving consumer goods (FMCG) sector. This coincides with rural outpacing urban consumption in volume terms for the first time in five quarters, according to the NielsenIQ January-March data. While focussed on volume, FMCG companies are also looking at increasing advertising spends in order to grow their brands. Consumer goods major Hindustan Unilever (HUL) told its investors post its earnings call recently that its focus remains on driving competitive volume-led growth across its businesses. “We want to continue driving gross margin improvement. Even in this quarter, when we delivered a 23.4 per cent EBITDA (earnings before interest, tax, depreciation and amortisation), you saw a very strong 350 bps gross margin improvement. A large part of that got invested into advertising & promotion spends (A&P),” Ritesh Tiwari, chief financial officer at HUL, said.
*In FY23, investments in mining, construction and manufacturing fell*
Gross capital formation (GCF) — or investment — in manufacturing, construction, and mining sectors contracted in FY23 primarily due to a fall in export demand and low private consumption during the year, an industrywise analysis of the National Accounts Statistics 2024 data showed. The Ministry of Statistics and Programme Implementation (MoSPI) had released the data on Monday. The fall in GCF in the three sectors comes at a time when overall GCF in the economy grew by 6.9 per cent to Rs 55.3 trillion at constant prices in the financial year ended March 31, 2023 (FY23). GCF is a broad measure of investment in an economy and represents total value of physical assets including fixed assets, inventories and valuables. On the other hand, gross fixed capital formation (GFCF) is a narrow measure of investment in the economy and excludes inventories, or acquisitions of valuables. Real manufacturing GFC that contracted 5.4 per cent to Rs 9.4 trillion could be attributed to “subdued manufacturing growth” during the year as capacity utilisation was low and firms had less incentive to invest, said economists.
* Global market action*
Dow Jones – Down by 0.12% or 45.81 points
FTSE – Up by 1.22% or 100.18 points
CAC – Up by 0.99% or 79.04 points
DAX – Up by 1.40% or 254.84 points
Gift Nifty – Up by 0.01% or 2.50 points
*FII/DII activities*
FII – Sold 3668.84Cr worth of shares
DII – Bought 2304.50Cr worth of shares.
*Stocks with high delivery Percentage*
KPR Mills – 93.4%
ESAB India – 92%
SKP India – 90%
Timken India – 89.9%
RHI Magnesite India – 89.2%
*Primary market activities*
TBO Tek Ltd (Main board) – Issue size 1550.81Cr
Aadhar Housing Finance Ltd (Main board) – Issue size 3000Cr
TGIF Agribusiness Ltd (BSE SME) – Issue size 6.39Cr
Listing today
Storage Technologies and Automation Ltd (BSE SME) – Subscribed 278.82x
Amkay Products Ltd (BSE SME) – Subscribed 748.03x
Sai Swami Metals & Alloys Ltd (BSE SME) – Subscribed 543.72x
*Commodities updates*
Gold – Rs 73665/10gm, Silver – Rs 82831/kg, Brcrude – Rs 6576/barrel, Copper – Rs 864.05/kg.
*Corporate News*
Paytm's UPI transactions fall for 3rd straight mth, market share contracts.
Axis Bank to bring in expats in latest move to woo global companies.
FY25 to be best year for Happiest Minds since IPO: Chairman Ashok Soota.