Nifty 50 closed in the green with the Indian volatility index, India VIX falling by more than 6.5%. Asian shares closed higher, following the US indices which also closed sharply higher on Thursday. US equities rose as minutes from Federal Reserve's May meeting indicated the central bank would remain flexible and might pause rate hikes later in the year. Strong retail earnings outlook from top retail companies also boosted the market sentiment. S&P 500 closed 2% higher while Dow Jones closed over 1.66% higher than Thursday’s levels. Crude oil edge lower after touching a two-month high on Thursday amid fears of supply disruption as a result of the proposed European ban on Russian oil. European indices follow the global trend and trade higher than Thursday's levels.
Nifty Next 50 and Nifty Smallcap 100 closed in the green, following the benchmark index. Nifty Auto and Nifty FMCG closed higher than Thursday’s levels. Nifty IT closed over 2.5% higher, tracking the tech-focused NASDAQ 100, which closed in the green on Thursday.
Market breadth is overwhelmingly positive. Of the 1,875 stocks traded today, 1,301 were in the positive territory and 538 were negative.
Hindalco Industries sees a long build-up in its Jun 30 futures series as its open interest rises 6.1% with put to call ratio at 0.44
Allcargo Logistics' Q4FY22 profit rises 359.6% YoY to Rs 246.8 crore. The profit rises as EBITDA margins rise 171 bps to 7.5% on the back of a 72.2% rise in revenues to Rs 5,786.6 crore.
Axis Securities maintains a ‘Buy’ rating on HG Infra Engineering with a target price of Rs 850, indicating an upside of 62%. The brokerage believes the company is well-placed to benefit from the ongoing growth in the infrastructure space, given its healthy balance sheet, robust order book and proven execution prowess. The brokerage expects the company’s profit to grow at a 21.3% CAGR over FY22-24.
Motherson Sumi Systems’ Q4FY22 net profit falls 82.9% YoY to Rs 121.6 crore and revenue rises by 1.2% YoY to Rs 17,184.8 crore. EBITDA margin falls by 290 bps YoY to 7.6% on higher input costs and lower revenue.
All bank stocks are trading in green, with stocks like IndusInd Bank, Bandhan Bank, IDFC First Bank and Federal Bank, among others, rising above 2%. The broader sectoral index Nifty Bank is also rising in trade.
India Cements reports a loss of Rs 10.6 crore in Q4FY22 against profit of Rs 50.2 crore in Q4FY21. Revenue for the quarter falls 3.7% YoY to Rs 1417.6 crore. The company suffers a loss due to an increase in the cost of raw materials and an increase in expenses on power and fuel.
Piramal Enterprises hits a 52-week low despite it posting a net profit of Rs 109.5 crore in Q4FY22 as opposed to a loss of Rs 571.2 crore in Q4FY21. Revenue rises 23.4% YoY to Rs 4,401 crore on the back of the Financial Services segment rising 36.9% YoY to Rs 2,023.8 crore. However, the operating margin falls by 24 percentage points YoY to 28.3% on rising employee costs and finance costs.
Hindalco Industries is rising as its Q4FY22 net profit rises 99.7% YoY to Rs 3,851 crore and revenue rises 37.6% YoY to Rs 55,764 crore. The growth is driven by revenue from Novelis rising 37% YoY to Rs 36,411 crore and the aluminium segment rising 65% YoY to Rs 9,847 crore. The operating margin slightly dips by 86 bps YoY to 13.1% as the cost of materials consumed rises 44.1% YoY to Rs 36,121 crore.
Reserve Bank of India's annual income rises 20% YoY to Rs 1.6 lakh crore in FY22. However, expenses jump 3.8X YoY to Rs 1.3 lakh crore. Out of the expenditure, RBI transferred Rs 1.15 lakh crore in the contingency fund to maintain the risk buffer at minimum required level. The apex bank also paid a surplus of Rs 30,307 crore to the government of India in FY22.
Godrej Industriesis trading with more than 38 times its weekly average trading volume. AstraZeneca Pharma India, Muthoot Finance, Cholamandalam Financial Holdings, and Piramal Enterprisesare trading at more than four times their weekly averagetrading volumes.
Sun Pharmaceutical Industries' arm S.C. Terapia S.A., Romania acquires Uractiv portfolio from Fiterman Pharma. The Uractiv portfolio comprises food supplements including minerals, vitamins, and adjuvants, and cosmetics and medical devices used for maintaining urinary tract health. The portfolio has annualised revenue of approximately $ 8.7 million.
Page Industries is rising as its Q4FY22 net profit rises 64.8% YoY to Rs 190.5 crore and revenue rises 26.1% YoY to Rs 1,111.1 crore, driven by retail expansion and new product launches. Operating margin rises by 476 bps YoY to 24% led by higher revenue.
NMDC is falling as its Q4FY22 net profit falls 36% YoY to Rs 1,813 crore due to employee benefits costs rising 60.4% YoY to Rs 465.4 crore and royalty and other levies rising by 74.7% YoY to Rs 2,701.5 crore. Revenue marginally falls 2.1% YoY to Rs 6,702.2 crore as revenue from the iron ore segment falls 2% YoY to Rs 6,672.1 crore.
Ruchi Soya Industries' Q4FY22 profit falls 24.9% YoY to Rs 234.4 crore despite a 37.1% YoY increase in the revenue to Rs 6,663.7 crore. The profit falls due to the increasing cost of raw materials and purchases of stock-in-trade expenses. The board of directors has announced a maiden dividend of Rs 5 per equity share for FY22.
Zee Entertainment Enterprises, Saregama India, Inox Leisure, PVR, TV18 Broadcast and Sun TV Network, among others, are rising in trade. The broader sectoral index Nifty Media is also trading in green.
Oil And Natural Gas Corporation, Oil India, and Vedanta fall on reports that the Centre may consider a windfall tax on oil and gas producers to offset the shortfall in revenues. This could help fund public expenditure on fuel, food, and fertilizer subsidies.
Paradeep Phosphates’ shares list at a 4.7% premium to the issue price of Rs 42 on its debut on the bourses. The Rs 1,501.7-crore IPO was subscribed for 1.7 times the total shares on offer.
Zee Entertainment Enterprises is rising despite its Q4FY22 net profit falling 34% YoY to Rs 181.9 crore due to operational costs rising 49% YoY to Rs 1,257.9 crore. Revenue rises 18.2% YoY to Rs 2,322.9 crore on revenue from other sales and services surging 8.8X YoY to Rs 348.2 crore. The operating margin fell by 6.7 percentage points YoY to 21.8% on high input costs.
Berger Paints (India's) Q4FY22 net profit rises 5.6% YoY to Rs 220.3 crore with revenue increasing 8% to Rs 2,187.5 crore. EBITDA rises 3.2% to Rs 346.4 crore. Total expenses for the company are up 9% YoY to Rs 1,915.4. The company recommends a dividend of Rs 3.1 per equity share for FY22.
15 stocks in BSE 500 are trading on high volumes today.
Akzo Nobel India Ltd. (1,720.00, -0.59%) was trading at 11.8 times of weekly average. Cholamandalam Financial Holdings Ltd. (621.90, -1.25%) and GlaxoSmithKline Pharmaceuticals Ltd. (1,520.00, 0.60%) were trading with volumes 5.7 and 5.5 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
Stock touching their year highs included - Blue Dart Express Ltd. (7,403.10, 1.20%).
24 stocks climbed above their 200 day SMA including AstraZeneca Pharma India Ltd. (2,955.40, 11.99%) and Balrampur Chini Mills Ltd. (399.50, 6.41%). 9 stocks slipped below their 200 SMA including GAIL (India) Ltd. (142.80, -5.56%) and Triveni Turbine Ltd. (175.65, -5.26%).