Indian indices witnessed a positive start on Thursday. Indices recovered lost ground on Wednesday after snapping 5-day losing streak with the help of gains in HDFC twins, Reliance Industries, and technology stocks. Globally, European stocks rose on Wednesday as investors monitored corporate earnings and developments in the Russia-Ukraine crisis, while US stocks ended mixed and Netflix shares tumbled after the streaming giant reported a drop in subscribers. Oil prices dipped further after recording a decline in the last session. In Asia, shares in Japan, South Korea, and Shanghai rose, while that in Hong Kong declined and in Australia was muted.
Sectoral indices: Nifty IT, auto, financials drive in demand, drive the index
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Why gold prices are up 7% so far this year
Gold is proving remarkably resilient, gaining almost 7% this year as investors shrug off surging real yields and strengthening dollar to focus on political and economic risks.
Multibagger Tata group stock rises further after better-than-expected Q4 results
Multibagger stock: After following IT stock crash post-weak Infosys results, Tata Elxsi share price rebounded strongly ahead of its Q4FY22 results as market was expecting strong Tata Elxsi results on Wednesday. However, the Tata group IT company reported better-than-expected Q4 results, which triggered fresh buying in Tata Elxsi shares in early morning deals. After making a close at ₹7600 per share levels on NSE on Tuesday, Tata Elxsi share price today surged up to ₹8190 apiece levels, logging around 7.75 per cent in two straight sessions.
LIC puts up robust show ahead of IPO
Life Insurance Corp. of India’s (LIC) first-year premium collection, a key metric, rose 7.9% to ₹1.98 trillion for the year ended 31 March, data reviewed by Mint showed, boosting the prospects of the state-run insurer as the government gets ready to brave choppy markets to take the company public.
Asian indexes mixed in choppy trading, echoing Wall Street
Asian shares were mixed in choppy trading Thursday, as inflation worries and the war in Ukraine had investors partly optimistic while staying cautious.
Benchmarks rose in Japan, South Korea and Australia, boosted by the overnight rally in Europe and in the Dow in the U.S. Investors were also watching South Korean trade numbers for April, which showed a trade deficit, although both imports and exports rose.
Rainbow Children’s Medicare IPO to open on Apr 27
The ₹2,000-crore initial share sale of multi-speciality pediatric hospital chain Rainbow Children’s Medicare Ltd will open for public subscription on April 27.
The-three day initial public offering (IPO) will conclude on April 29, and the bidding for anchor investors will open on April 26, the red herring prospectus (RHP) with Sebi showed on Thursday.
The public issue comprises a fresh issue of equity shares aggregating up to ₹280 crore and an offer sale of up to 2.4 crore equity shares by the selling shareholders.
Tech shares help Japan’s Nikkei post highest close in more than 2 weeks
Japan’s Nikkei rose on Thursday to its highest close in more than two weeks, driven by technology heavyweights, as U.S. futures advanced and after longer dated U.S. treasury yields tumbled overnight.
The Nikkei share average ended 1.23% higher at 27,553.06, its highest close since April 5. The broader Topix gained 0.67% to 1,928.00. Both indexes rose for the third straight session.
A market participant from a Japanese brokerage said the Nikkei’s gains were capped as investors awaited corporate earnings and currency moves weighed on risk appetite.
The dollar added 0.34% to 128.305 yen, after soaring to a two-decade high of 129.430 on Wednesday as the Bank of Japan stepped in to the bond market for the third time in three months to defend its zero-percent yield target, drawing a stark contrast with the Fed’s increasingly hawkish posture.
Strong earnings growth continues, benefiting from increasing retail footprint in capital markets: ICICI Securities on Angel One
Angel One (Angel) successfully maintained its business momentum in Q4FY22 with 101%/24% YoY/QoQ PAT growth. We estimate PAT CAGR of 15% over FY22-FY24E and value the stock at 22x FY24E EPS of Rs101 (earlier: FY23E EPS of Rs86.5). Maintain BUY with a revised target price of Rs2,230 (earlier: Rs1,900).
Oil firms as investors focus on supply drop from Russia, Libya
il prices rose on Thursday as concerns about supply due to a potential European Union (EU) ban on Russian oil came to the fore, days after diminished supplies from Libya rocked the market.
Brent crude futures rose $1.32, or 1.24%, to $108.12 a barrel at 0636 GMT. U.S. West Texas Intermediate (WTI) crude futures gained $1.26, or 1.23%, to 103.45 a barrel, adding to a 19 cent gain in the previous session.
Analysts said market volatility is likely to pick up again soon, with the EU still weighing a ban on Russian oil for its invasion of Ukraine, which Moscow calls a “special military operation”.
BSE Auto index surges; Tube Investments of India, M&M surge
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What potential L&T Infotech & Mindtree merger could mean for the respective IT stocks
As per media reports, the boards of L&T Infotech (LTI) and Mindtree (MTCL) may consider merging both the companies soon. While both have clarified that the reports are speculative, the potential merger has been deemed an eventuality since Mindtree’s acquisition by L&T (conglomerate parent) in March 2019, as per IIFL.
Nestle Q1 net profit slips 1.25 pc to ₹594.71 cr
FMCG major Nestle India Ltd on Thursday reported a 1.25 per cent decline in its net profit to ₹594.71 crore for the first quarter ended March 2022.
The company, which follows January-December financial year, had posted a profit of ₹602.25 crore in the same period a year ago, Nestle said in a BSE filing.
However, Nestle India’s net sales increased 9.74 per cent to ₹3,950.90 crore during the quarter against ₹3,600.20 crore in the corresponding period last fiscal, the company added.
Its total expenses in the January-March quarter rose 12.98 per cent to ₹3,195.90 crore compared to ₹2,828.61 crore a year ago.
Nestle India’s domestic sales surged 10.23 per cent to ₹3,794.26 crore from ₹3,442.03 crore in the January-March quarter of 2021.
RIL shares: How ‘hydrogen boost’ can drive the stock
As the world retools the way it produces and uses energy, and as energy security takes center-stage, green hydrogen is gaining attention. Hydrogen adoption plans are quickly progressing, with RIL best positioned to capitalize, as per global brokerage Morgan Stanley. The energy upcycle should help fund its growth and lift multiples.
Gold prices today fall for fourth day in a row, down ₹3,000 in a month
Gold prices fell for the fourth day in a row in Indian markets. On MCX, gold futures were down 0.12% at ₹52567 per 10 gram while silver dipped 0.4% to ₹68,136 per kg. The yellow metal has been under pressure amid multi-year high US bond yields and a strong US dollar. Gold had hit a high of ₹55,700 per 10 gram last month in domestic markets.
Sensex jumps over 680 points; RIL hits record high, TCS, L&T, Infosys surge
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Campus Activewear IPO price band announced. Issue to open next week
Campus Activewear IPO: The Initial Public Offering (IPO) is going to hit the primary markets next week on Tuesday, 26th April 2022. As per the information available on BSE website, Campus Activewear IPO’s price band has been fixed at ₹278 to ₹292 per equity share. The book built issue will remain open for bidders till Thursday, 28th April 2022.
Bitcoin, ether rise while dogecoin, Shiba Inu, XRP slip
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Banks hike MCLR rates: SBI vs Axis Bank vs Bank of Baroda
EMIs for home, car and personal loans are set to go up as major lenders like the State Bank of India (SBI), Axis Bank, Bank of Baroda (BoB) and Kotak Mahindra Bank have hiked their…
Read More:Market Live: Sensex Rises 800 Pts, Nifty Above 17,350; Ril, Tcs, M&m Lead
2022-04-21 07:46:37
