Among the sectors, FMCG, power, auto, and capital goods added 1-2 percent each while the midcap & smallcap indices also ended in the green.
Benchmark indices, after opening in the green on April 28, extended gains with Sensex surging 701.67 points or 1.23% at 57521.06, and the Nifty adding 206.60 points or 1.21% to 17,245. About 1,594 shares advanced, and 1,729 shares declined, while 104 shares remained unchanged.
Hindustan Unilever | CMP: Rs 2,237 | The stock price gained over 4 percent after the FMCG major reported an 8.6 percent rise in standalone post-tax profit at Rs 2,327 crore for the fourth quarter ended March 2022 as against Rs 2,143 crore recorded a year ago. On a sequential basis, the net profit has risen by 3.7 percent. Standalone revenue from operations came in at Rs 13,462 crore, an increase of 11 percent on-year. On a sequential basis, revenues increased 2.8 percent. Credit Suisse has kept an outperform rating on the stock and cut the target price to Rs 2,550 from Rs 2,800 per share.
SBI Life Insurance Co Ltd on April 28 reported a 26 percent rise in net profit at Rs 672.15 crore for the fourth quarter ended March. The private sector insurer’s profit stood at Rs 532.38 crore in the same quarter of the previous fiscal, according to a regulatory filing. However, total income rose marginally by 2.5 percent to Rs 21,427.88 crore in the quarter under review from Rs 20,896.70 crore in January-March 2021 period.
Bajaj Auto | CMP: Rs 3,828.70 | The stock price declined 2 percent on April 28. The two and three-wheeler maker on April 27 declared a 10.3 percent year-on-year rise in standalone profit after tax (PAT) at Rs 1,469 crore. On a sequential basis, the growth in PAT came in at 21 percent. Profit was aided by an exceptional income of Rs 315 crore from incentive receivable from Maharashtra for April 2015 to March 2021 period and Rs 31 crore receivable for April 2021 to March 2022 period. BofAML maintained a buy rating with a target price of Rs 4,100 per share.
Persistent Systems | CMP: Rs 4,298 | The scrip was up over 5 percent after the company reported a good set of numbers as it clocked 14 percent sequential growth in profit at Rs 200.9 crore driven by topline as well as operating income. Revenue rose by 9.8 percent quarter-on-quarter to Rs 1,637.9 crore during the same period, with order booking for the quarter at $ 361 million in total contract value. Revenue in dollar terms increased by 9.1 percent sequentially to $ 217.32 million in Q4FY22.
Varun Beverages | CMP: Rs 1,064 | The stock rose over 2 percent on April 28. The net profit of the company jumped 96.7% to Rs 254.2 crore against Rs 129.2 crore (YoY). Revenue was up 26.3% at Rs 2,867.5 crore against Rs 2,270 crore (YoY). EBITDA rose 39.1% at Rs 531 crore against Rs 381.6 crore (YoY). EBITDA margin was at 18.5% against 16.8% (YoY).
Indian Hotels | CMP: Rs 247.50 | The scrip jumped 5 percent after the company’s Q4FY22 net profit surged 272.79 percent YoY. Net sales came in at Rs 593.58 crore for the March quarter, up 27.94% against Rs 463.96 crore in the year-ago period. EBITDA stood at Rs. 244.37 crore, up 106.57% YoY. Indian Hotels EPS has increased to Rs. 0.64 in March 2022 from Rs. 0.42 in March 2021.
Bajaj Finserv | CMP: Rs 15,034.85 | The share price ended in the green on April 28. Bajaj Finserv reported a 37.5 percent year-on-year rise in consolidated net profit at Rs 1,346.1 crore for the quarter ended March. The non-bank finance company reported a 22 percent growth in total income to Rs 18,861.7 crore. The board has recommended a dividend of Rs 4 per share to shareholders. The strong topline growth of the company was driven by its insurance business. The gross premium written of the life insurance business rose 27 percent on-year to Rs 5,718.7 crore, while the same for the general insurance operations climbed 18.4 percent on-year.
Coromandel International | CMP: Rs 906.05 | The scrip jumped over 6 percent after the company reported a net profit of Rs 289 crore against Rs 155.8 crore (YoY). Revenue jumped 49.6% at Rs 4,226.8 crore against Rs 2,824.7 crore (YoY). EBITDA rose 65.3% at Rs 379.7 crore against Rs 229.7 crore (YoY).
Laurus Labs | CMP: Rs 565.10 | The share price was down over 2 percent after the firm announced its earnings. Consolidated net profit came in at Rs 230.5 crore against Rs 297 crore (YoY). Consolidated revenue edged higher by 0.9% at Rs 1,424.8 crore against Rs 1,411.9 crore (YoY). Consolidated EBITDA was down 16% at Rs 396.6 crore against Rs 472.3 crore (YoY) while consolidated EBITDA margin came in at 27.8% against 33.4% (YoY).
Escorts | CMP: Rs 1,613 | The stock ended in the green on April 28. Rating agency CRISIL has upgraded the company’s long-term rating by one notch from “AA” to “AA+” with a revision in outlook from “watch with Positive implications” to “Stable”. CRISIL has also reaffirmed its short-term rating to “A1+”.
Sandip Das
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