All the sectoral indices ended in the green with bank, pharma, auto, IT, power, realty and capital goods indices up 1-2 percent. The BSE midcap and smallcap indices rose 1 percent each.
Indian equity market ended on positive note on April 21, helped by buying across the sectors. At close, the Sensex was up 874.18 points or 1.53% at 57,911.68, and the Nifty was up 256.10 points or 1.49% at 17,392.60.
HCL Technologies | CMP: Rs 1,102.30 | The stock ended in the green ahead of its earnings. The firm is expected to post a 13 percent on-year growth in consolidated profit to Rs 3,300-3,400 crore and a 15 percent increase in revenue to Rs 22,600 crore in the quarter ended March. The increase in the Noida-based company’s revenue is expected to be aided by growth in IT services and engineering and research & development (ERD) business. However, the products & platforms (P&P) business is expected to decline due to seasonality.
Reliance Industries | CMP: Rs 2,782 | The stock price added 2 percent hitting new 52-week high on April 21. Brokerage firm Morgan Stanley sees shares of Reliance Industries rising 50 percent from their closing price on Wednesday over the next 12 months in its best-case scenario for the company as it believes that the market is yet to provide any value to the new green energy initiatives. “The value-creation potential from the global pivot on energy security and the energy transition remains highly underappreciated for RIL,” Morgan Stanley said in a note. Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Ramkrishna Forgings | CMP: Rs 192.40 | The share jumped 5 percent after the firm won an export order with an estimated business value of Rs 330 million over 5 years from Europe’s leading Tier-1 axle manufacturer for the Front Axle Business, the company said in an exchange filing.
ICICI Securities | CMP: Rs 598.95 | The scrip fell over 4 percent on April 21. ICICI Securities’ consolidated profit rose 3.3 percent year on year to Rs 340.29 crore. Consolidated revenue rose 20.7 percent to Rs 892.30 crore. The company has announced final dividend of Rs 12.75 per share, taking the full year dividend to Rs 24 in FY22 versus Rs 21.5 in FY21. Brokerage CLSA has maintained an outperform rating on the stock and cut the target price to Rs 720 from Rs 750.
Atul Auto | CMP: Rs 205.05 | The stock jumped over 11 percent after Atul Greentech Private Limited (AGPL), a subsidiary of Atul Auto, said it is collaborating with Honda Power Pack Energy India Pvt. Ltd. and Valeo to develop the prototype Cargo and Passenger three wheeler with the Honda Mobile Power Pack i.e: Swap & Valeo powertrain system.
Shriram Properties | CMP: Rs 79.70 | The stock price gained over 3 percent after the company reported impressive performance with highest-ever sales volume, sales value as well as record high collections and construction for the year ended March 31, 2022 (FY22). Its performance for the quarter remained impressive with strong growth in key operating parameters compared to Q3 FY22. The company achieved sales volumes2 of 1.17 msf in Q4FY22, supported by 4 successful launches, reflecting 14% growth over Q3FY22 (QoQ).
Mastek | CMP: Rs 2,833 | The scrip ended in the green on April 21. Mastek has reported 8.6 percent jump in its Q4 net profit at Rs 79.9 crore versus Rs 73.6 crore and revenue was up 5.4% at Rs 581.5 crore versus Rs 551.9 crore, QoQ. Earnings before interest, tax, depreciation and amortization (EBITDA) 3.8% at Rs 120.6 crore versus Rs 116.2 crore and margin was at 20.7% versus 21%, QoQ.
Tata Elxsi | CMP: Rs 7,899 | The share price ended in the green on April 21. The company clocked 39 percent year-on-year growth in Q4FY22 profit at Rs 160 crore on healthy growth in revenue that increased 31.5 percent YoY to Rs 682 crore backed by strong double-digit growth in transportation, media and communications, and healthcare segments.
Century Plyboards | CMP: Rs 641.25 | The scrip added 2 percent after the company incorporated a wholly owned subsidiary – Century Ports at Kolkata. The company through its subsidiary will carry out the project for rejuvenation of Khidderpore docks (KPD-I West) through PPP mode on design, build, finance, operate and transfer (DBFOT) basis at Syama Prasad Mookerjee Port, Kolkata.
ARSS Infrastructure | CMP: Rs 29.90 | The share price jumped 10 percent after the firm received a work order of Rs 2,20,34,898.69 for “Temporary Rail connectivity to MMLP Paradip.
Sandip Das
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