Oil & gas, power and metal indices gained a percent each, while bank and IT indices fell a percent each. BSE midcap and smallcap indices ended with marginal gains.
The Indian Market ended lower for the second consecutive day on April 6 amid weak global cues and selling in auto, bank and IT names. At close, the Sensex was down 566.09 points, or 0.94%, at 59,610.41, and the Nifty was down 149.70 points, or 0.83%, at 17,807.70.
One97 Communications | CMP: Rs 640 | The scrip jumped over 5 percent on April 6. Paytm CEO Vijay Shekhar Sharma said shares were down significantly from the IPO price “against the backdrop of volatile market conditions for high growth stocks globally” in a letter to investors today. In the fourth quarter of FY22, the company disbursed over 65 lakh loans, up from 44 lakh in the previous quarter, a growth of 374 percent. The value of the loans disbursed stood at Rs 3,553 crore. The Gross Merchandise Value (GMV) for its merchant payments business, where it competes with BharatPe, saw a growth of 111 percent in the year, rising from Rs 4 lakh crore to Rs 8.52 lakh crore. For the quarter, the company registered a GMV of Rs 2.59 lakh crore, marginally up from Rs 2.50 lakh crore in the previous quarter.
Marico | CMP: Rs 521.30 | The stock fell over 4 percent after the company posted its business update for the January-March quarter. Revenue growth in the quarter was in low single digit, while volumes were marginally positive on an exceptionally high 25 percent base, which led to double-digit volume growth on a two-year CAGR (compound annual growth rate) basis. The gross margin is expected to be similar to the same quarter last year. Global research and broking firm CLSA has maintained its underperform rating on the stock with a target of Rs 530. The brokerage said consumption was subdued amid weak rural sentiment and high inflation. Management expects high-single-digit topline growth with stable margin, it said.
Tata Teleservices | CMP: Rs 202.50 | The scrip spiked 5 percent on April 6. After a run-up in March without any reason, exchanges had sought clarification on price movement. In a reply to the exchanges on March 30, the broadband, telecommunications and cloud service provider said that it had always promptly intimated of any events or information required to be disclosed under the Regulation of the Securities and Exchange Board of India and would continue to do so. Revenue from operations in the third quarter recorded a moderate gain of 2 percent to Rs 284.22 crore, compared to the previous corresponding period, and the sequential growth was 5.7 percent.
Ruchi Soya Industries | CMP: Rs 749.85 | The share price tumbled over 14 percent on April 6. The board approved the allotment of 6.61 crore shares to raise Rs 4,300 crore following the recent follow-on public offer (FPO) whose subscription fell as the regulator allowed withdrawals in light of “unsolicited SMSes advertising the issue”. “Following the allotment in the issue, the paid-up share capital will increase from Rs 59,16,82,014 to Rs 72,39,89,706,” the firm said in a release. Some 14,583 applications, amounting to 9.74 million shares, were withdrawn as of March 30, the data from BSE showed. Qualified institutional bidders withdrew 7.86 million bids, while high net-worth investors recalled 1.31 million. Retail investors withdrew 5.70 lakh shares.
Tata Steel | CMP: Rs 1,370 | The stock added 2 percent after the company achieved its highest-ever annual crude steel production of 19.06 million tons, with a growth of 13 percent YoY despite the COVID disruptions early in the financial year. Tata Steel India deliveries increased by 6 percent YoY in FY22, surpassing the previous best recorded in FY21. Tata Steel Europe steel production in FY22 grew by 6 percent YoY and total deliveries increased by 2 percent YoY driven by broad based improvement in most steel consuming sectors.
Adani Enterprises | CMP: Rs 2,154.95 | The share price ended in the green on April 6. Adani Global Limited., Mauritius, a wholly owned subsidiary of Adani Enterprises, has completed the acquisition of minority stake by way of newly issued shares of Forsight Robotics Ltd, a company incorporated under the laws of the State of Israel pursuant to the definitive agreements entered with Forsight and other investors in Forsight.
Triveni Engineering | CMP: Rs 335.20 | The stock price jumped over 4 percent after the new 160 KLPD distillery of the company at its sugar unit at Milak Narayanpur, District Rampur, Uttar Pradesh commenced commercial operations with effect from April 4, 2022, the company said in a release.
Tata Motors | CMP: Rs 456.50 | The scrip ended in the red on April 6. Tata Motors recently said that it sold a record 14,880 EVs between Jan ‘20 and December ‘21. The Tata Nexon EV is the brand’s largest-selling electric car, with the cheaper and less powerful Tigor EV in second place. The company on April 6 unveiled the Tata Curvv EV concept.
Saregama India | CMP: Rs 5,000 | The share ended in the green after the Board of Directors fixed April 27, 2022 as the record date for determining the eligibility of shareholders with regard to the sub-division of 1 equity share of face value of Rs 10 fully paid-up to 10 equity shares of face value of Re 1 each fully paid-up, as approved by the shareholders through postal ballot by way of electronic means on March 31, 2022.
IRCTC | CMP: Rs 795.85 | The stock was down over 3 precent on April 6. The government is working on launching an offer for sale (OFS) issue for IRCTC soon, CNBC-TV18 reported sources as saying. The government may look to raise nearly Rs 3,000 crore by selling about 3.5 percent via IRCTC OFS issue. Axis Securities, Citi, Goldman Sachs, JM Financial appointed as bankers for the OFS.
Sandip Das
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