Except bank, all other sectoral indices ended in the red with auto, capital goods, FMCG, healthcare, IT, power, metal, oil & gas, realty down 1-4 percent.
Benchmark indices ended lower for the second consecutive week on April 25 with Nifty below 17000, dragged by selling across sectors amid weak global cues. At close, the Sensex was down 617.26 points or 1.08% at 56,579.89, and the Nifty fell 218.00 points or 1.27% at 16,954.
ICICI Bank | CMP: Rs 754.95 | The scrip added a percent in a weak market on April 25. The private sector lender reported a 59.4 percent year-on-year jump in net profit to Rs 7,018.7 crore for the quarter ended March. The lender reported a 20.8 percent on-year growth in net interest income to Rs 12,605 crore for the reporting quarter. Credit Suisse has an outperform rating with target price raised to Rs 870 per share.
BPCL | CMP: Rs 369.80 | The stock was down 6 percent after Vedanta Group’s Chairman Anil Agarwal said the government had called off the divestment of the state-owned company. The development is a setback for BPCL, which had seen strong interest from retail and institutional investors over the past few years in the hope that the privatisation of the state-owned refiner would trigger a sharp improvement in its financials and capital allocation.
BHEL | CMP: Rs 51.80 | The share fell 4 percent on April 25. Bharat Heavy Electricals Limited (BHEL) has achieved a major breakthrough in the rolling stock business by securing the order for 6,000 HP Electric Locomotives, first ever in the country for industrial application. The order has been placed by NTPC Limited for supply of 6 nos. 6,000 HP Electric Locomotives for material handling operations at Lara thermal power project site.
TVS Motor | CMP: Rs 649 | The stock ended in the green on April 25. TVS Motor Company has reached a partnership agreement with PETRONAS, an alliance that will see the progressive energy company become the title partner of TVS Racing, India’s first factory racing team.
Religare Enterprises | CMP: Rs 132 | The stock price surged over 12 percent after the firm said in an exchange filing on April 24 that it has resolved all legacy issues with the Securities and Exchange Board of India (Sebi).
RailTel Corporation | CMP: Rs 112.90 | The scrip shed over 3 percent on April 25. RailTel Corporation of India has received work order from Odisha government’s electronics & information technology department. The company will do provisioning of secondary bandwidth and replacement of equipment along with implementation of SDWAN for OSWAN project for a period of five years at a total cost of Rs 122.08 crore.
Century Textiles | CMP: Rs 889 | The share price ended in the green on April 25. Century Textiles’ Q4 net profit came in at Rs 86 crore versus loss of Rs 8.4 crore and revenue was up 44.2 percent versus Rs 1,210.7 crore versus Rs 839.4 crore, YoY. Earnings before interest, tax, depreciation and amortization (EBITDA) was up 66.6 percent at Rs 125.3 crore versus Rs 75.2 crore and margin at 10.3 percent versus 9.0 percent, YoY. The company board approves interim dividend of Rs 4 per share.
Mindtree | CMP: Rs 3,725 | The scrip ended lower by 3 percent on April 25. Mindtree and Sapiens International Corporation announced a partnership to help insurance companies drive digital transformation. The combination of Sapiens’ industry-leading, cloud-native, core suite of banking and insurance applications, and Mindtree’s deep domain knowledge and expansive delivery capabilities will enable insurance companies to increase scale, speed-to-market, and customer satisfaction.
PVR | CMP: Rs 1,735 | The share was down 2 percent on April 25. BlackRock, Inc bought 37,613 equity shares in the multiplex chain operator PVR via open market transactions on April 21. With this, its shareholding in the company rose to 5.01 percent, up from 4.95 percent earlier.
Torrent Power | CMP: Rs 540.50 | The stock ended flat in a market, which was under bear grip. The company acquired 50-MW solar power plant from SkyPower Group. It has entered into a Share Purchase Agreement (SPA) with SkyPower Southeast Asia III Investments and SkyPower Southeast Asia Holdings 2 for acquisition of 100% stake in Sunshakti Solar Power Projects, the special purpose vehicle that operates 50 MW solar power project in Telangana.
Sandip Das
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