On the sectoral front, auto and PSU bank indices shed 1 percent each, while metal and pharma indices rose over 1 percent each. BSE midcap and smllcap indices ended flat.
Indian markets had another volatile session but the benchmark indices managed to end near the day’s high on April 15 despite rising coronavirus cases and wholesale inflation climbing to an eight-month high. At close, the Sensex was up 259.62 points, or 0.53%, at 48,803.68 and the Nifty was up 77 points, or 0.53%, at 14581.50. On the sectoral front, auto and PSU bank shed 1 percent each, while metal and pharma rose over 1 percent each. BSE midcap and smallcap indices ended flat.
Wipro | CMP: Rs 433.70 | The stock added over 3 percent. The company reported a marginal rise in IT services net profit at Rs 2,972.1 crore during the fourth quarter of 2021 as compared to Rs 2,966.7 crore in the previous quarter. The company’s IT Services revenue increased 3.9 percent to Rs 16,334 crore from Rs 15,726.6 crore, QoQ. Wipro’s Q4FY21 dollar revenue was at $ 2,152.4 million, registering a growth of 3.9 percent, in line with CNBC-TV18 poll estimates. The revenue growth in constant currency came in at 3 percent during the quarter under review.
Infosys | CMP: Rs 1,363.30 | The stock shed 2 percent on April 15 a day after the company came out with Q4 numbers. The company’s board also approved a buyback of equity shares amounting to Rs 9,200 crore at a price not exceeding Rs 1,750 a share and also recommended a final dividend of Rs 15 per equity share. Infosys maintained its revenue growth guidance in constant currency at 12-14 percent for the financial year 2021-22, while EBIT margin growth forecast for the full year was retained at 22-24 percent.
5paisa Capital | CMP: Rs 350.40 | The stock price zoomed 20 percent after the company approved fresh capital raise of Rs 250.87 crore through preferential issue of equity shares and warrants at Rs 500 per share to a set of marquee investors, promoters and the promoter group.
Phillips Carbon | CMP: Rs 199.80 | The share price jumped over 5 percent after Ashish Kacholia bought 25,02,495 shares, or 1.45 percent stake, in Phillips Carbon Black in the March quarter of FY21, data available with BSE showed. However, it cannot be ascertained if it was the first time Kacholia bought a stake in Phillips Carbon as companies are not required to disclose the names of shareholders if their stake is below 1 percent. FPIs held 1,40,05,181 shares (8.13 percent stake) in the March quarter against 1,55,03,961 shares (9 percent stake) in the December quarter.
VIP Industries | CMP: Rs 331.60 | The scrip ended in the red on April 15. Ace investor Rakesh Jhunjhunwala trimmed his stake in VIP Industries during the March quarter of the financial year 2021 (Q4FY21) as the coronavirus pandemic hit the tour and travel industry, keeping the outlook hazy. At the end of Q4FY21, Jhunjhunwala’s wife, Rekha Jhunjhunwala, held 32,73,400 shares, or 2.32 percent stake in VIP Industries, data available on BSE showed.
UPL | CMP: Rs 607.50 | The stock price ended in the green after the Supreme Court of Queensland, Australia, dismissed a class action litigation against Advanta Seeds Pty Ltd, UPL’s subsidiary in Australia. Brokerage firm ICICIdirect has a ‘buy’ on UPL in range of Rs 625-635 with target at Rs 735 with stop loss at Rs 570.
Jindal Steel & Power | CMP: Rs 412.50 | The stock was up in the green on April 15. Credit rating agency, ICRA, has upgraded its rating from [ICRA] BBB + with ‘stable’ outlook to [ICRA] A with ‘stable’ outlook on the long term bank facilities and from [ICRA]A2 to [ICRA]A1 for short-term facilities of Jindal Steel & Power, the company said in its release.
Muthoot Finance | CMP: Rs 1,150 | The share was down 2 percent on April 15. The board of directors of the company declared an interim dividend of 200 percent i.e., Rs 20 per equity share of face value of Rs 10 each for the financial year 2020-21. The dividend will be paid to the shareholders on or before May 11.
Motherson Sumi Systems | CMP: Rs 207.60 | The stock ended in the red on April 15. Moody’s Investors Service revised the company’s rating outlook to ‘stable’ from ‘negative’ while affirming the Ba1 corporate family rating to Motherson Sumi Systems. The improved outlook with the affirmed rating reflects the sustainability of earnings and de-leveraging witnessed in the last two quarters despite growth challenges due to the global pandemic, the company said in its BSE filing.
Hindustan Copper | CMP: Rs 137.20 | The share price shed a percent on April 15. The company has raised Rs 500 crore through issuance of shares to institutional investors on fully subscription of qualified institutions placement (QIP),” the company said in a statement. The funds from the QIP are proposed to be used to fund the ongoing capex/expansion plan of the company, it said.
Sandip Das
