The SGX Nifty indicated that Nifty and Sensex will continue to fall in trade on Thursday, extending the previous session’s losses. HDFC, Adani Enterprises and Titian are some of the stocks in focus today.
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The SGX Nifty signaled that domestic benchmark indices NSE Nifty and BSE Sensex might open in the red, as Nifty futures traded 73 points lower at 18,087.5 on the Singaporean exchange after the US Federal Reserve hiked their key lending rate by 25 bps. Benchmark indices NSE Nifty and BSE Sensex ended Wednesday’s session lower, snapping a six day gaining streaking. The NSE Nifty 50 fell 0.3% points to 18,090 and Sensex ended lower by 75 points to settle at 61,193.
“The 6-day winning streak of the domestic market was disturbed by adverse headwinds from the US market. Renewed concerns over the US regional banking turmoil, uncertainty regarding the Fed’s policy outcome, and the need to increase the US treasury debt borrowing limit triggered a bearish attack on Wall Street. Despite this, the robust growth of India’s services and manufacturing sectors in April and the strong inflow of foreign funds helped minimise the losses in the domestic market,” said Vinod Nair, Head of Research, Geojit Financial Services.
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Titan
Jewellery and watch maker Titan on Wednesday reported a rise of 50% in standalone net profit to Rs 734 crore for the quarter ended March (Q4). This is against a net profit of Rs 491 crore in the year-ago period. The revenue from operations rose 25% to Rs 8,753 crore in the quarter under review from Rs 6,977 crore in the previous year
Havells India
Havells India reported net profit of Rs 358.04 crore for the fourth quarter ended March 2023, up 1.6% from Rs 352.48 crore in the same quarter last year, in line with the analyst estimates.
Adani Wilmar
FMCG major Adani Wilmar‘s fiscal net profit tumbles 60.1% to Rs 93.61 crore from Rs 234.29 crore in the same quarter last year. The FMCG company posted a revenue from operations of Rs 13,872.64 crore, down 7% from Rs 14,917.26 crore in Q4FY22
Adani Enterprises
The flagship holding company of the embattled Adani Group, Adani Enterprises is set to announce its fourth quarter results on 4 May.
HDFC, Siti Networks
HDFC sold 1.87 cr equity shares of Re. 1 each of Siti Networks Limited, which represents 2.15% of the paid-up share capital of Siti. Following the sale, HDFC is holding 5.66 crore shares of Siti, representing 6.49% of its paid-up share capital.
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NDTV
NDTV has been fined Rs 62,540 by the BSE and NSE each for non-compliance with certain regulatory necessities during the quarter ended December, 2022.
Central Bank of India
The public lender clarified its exposure to the cash-strapped airline, Go First. The bank’s exposure to Go Air is Rs 1305 crore and additional amount of Rs 682 crore, sanctioned under emergency line of credit which is guaranteed by the Government of India.
AstraZeneca Pharma India
The pharmaceutical company received permission from the Government to import, sell and distribute Trastuzumab deruxtecan (Enhertu) which is utilized to treat breast cancer in adults.
TVS Motors
The auto company’s CEO, KN Radhakrishnan, said, “TVS Motor has fully complied with all government regulations specified under FAME. Further towards alleviating ambiguity and ensuring a clear policy direction, TVS Motor will offer a goodwill benefit scheme for its customers who have paid over and above the threshold limit fixed by FAME. The overall cost impact to TVS Motor Company is less than 20 crores.”
