All the sectoral indices ended in the red with bank, oil & gas, realty, PSU bank, power, and capital goods indices losing 1-2 percent.
Benchmark indices ended on a negative note with Nifty around 17,100 on April 29 amid selling across the sectors. At close, the Sensex was down 460.19 points or 0.80% at 57,060.87, and the Nifty was down 142.50 points or 0.83% at 17,102.50.
Maruti Suzuki | CMP: Rs 7,681 | The stock shed over 2 percent on April 29 after the firm declared its Q4 earnings. The auto major reported a growth of 51 percent year-on-year in its consolidated profit after tax (PAT) at Rs 1,876 crore as compared to a PAT of Rs 1,241 crore registered in the corresponding quarter of the previous fiscal. On a sequential basis, the profit inched up 80 percent from Rs 1,042 crore logged during the October-December period. Consolidated revenue for the company rose 11 percent on-year to Rs 26,749 crore as compared to Rs 24,035 crore registered in the year-ago quarter. The sales volume for the quarter declined 0.7 percent on-year as the company managed to sell 488,830 units during the quarter under review.
UltraTech Cement | CMP: Rs 6,615 | The stock ended flat on April 29 after rising a percent after declaring its March quarter earnings. The cement maker reported a 47.6% rise in consolidated net profit at Rs 2,620 crore for the quarter ended March compared to Rs 1,775 crore registered in the year-ago period. The jump in profit was due to tax write back in the quarter versus tax paid a year ago. Consolidated net sales rose marginally by 9.32% to Rs 15,557 crore as compared to Rs 14,232 crore a year ago. Tax written back in the quarter was at Rs 200 crore against tax paid of Rs 850 crore a year ago. The company has managed to reduce its debt in FY22. On a consolidated basis, its net debt fell by 41% to Rs 3,751 crore versus Rs 6,353 crore last year with net debt to Ebitda improving to 0.32 times in the FY22 from 0.53 times a year ago.
Wipro | CMP: Rs 508 | The scrip was down 2 percent on April 29. The IT services firm reported a 4 percent sequential rise in its consolidated net profit to Rs 3,087.3 crore for the quarter ended March, which was in line with analysts’ expectations. The Bengaluru-based company’s consolidated revenue from operations rose merely 0.3 percent on-quarter to Rs 20,860.7 crore.
Axis Bank | CMP: Rs 730 | The stock price tumbled over 6 percent on April 29 despite the firm reporting a massive 54 percent YoY growth in standalone profit for the quarter ended March, largely driven by a significant fall in provisions and improved asset quality. Profit increased to Rs 4,117.8 crore from Rs 2,677 crore a year ago. Net interest income, the difference between interest earned and interest expended, grew 16.7 percent to Rs 8,819 crore with credit growth of 15 percent and deposits growth of 19 percent.
SBI Life Insurance | CMP: Rs 1,104.55 | The scrip ended in the red on April 29. It reported a 26 percent YoY rise in net profit at Rs 672.15 crore. Total income rose marginally by 2.5 percent to Rs 21,427.88 crore. Net premium income increased 12 percent to Rs 17,433.77 crore. Credit Suisse has maintained a neutral rating with a target of Rs 1,180 per share while Goldman Sachs has kept a buy rating on the stock and cut the target price to Rs 1,370 from Rs 1,500 apiece.
Gokaldas Exports | CMP: Rs 402.70 | The stock price surged 14 percent after the company’s consolidated net profit came in at Rs 60.9 crore against Rs 16 crore (YoY). Consolidated revenue grew 58.1% at Rs 585 crore against Rs 370 crore (YoY). Consolidated EBITDA came in at Rs 76.6 crore against Rs 35.2 crore (YoY) while consolidated EBITDA margin was reported at 13.1% against 9.5% (YoY).
GNA Axles | CMP: Rs 526 | The share fell 5 percent after the firm reported a 34.4 percent fall in its Q4 net profit at Rs 18.1 crore against Rs 27.6 crore and revenue was down 3.1% at Rs 300.5 crore versus Rs 310.1 crore, YoY. Earnings before interest, tax, depreciation, and amortisation (EBITDA) was down 18.2% at Rs 39.6 crore versus Rs 48.4 crore and the margin was at 13.2% versus 15.6%, YoY.
Brightcom Group | CMP: Rs 84 | The scrip ended at 5 percent upper circuit on April 29 after the company opened an office in Berlin, in line with its focused growth strategy for the EU region. With this, the company now has 25 offices worldwide, the company said in its release.
Ambuja Cements | CMP: Rs 372 | The stock shed 3 percent after the company’s profit fell sharply by 30.3 percent YoY to Rs 856.5 crore due to higher power & fuel cost and muted topline growth in the quarter ended March 2022. Revenue increased by 2.4 percent to Rs 7,900 crore during the same period.
Premier Explosives | CMP: Rs 413.95 | The stock jumped 5 percent after the firm signed a contract with an overseas entity for the supply of Rocket Motors (Items Sh-522 intended for R-22 aviation guided missiles with Igniter V-287) for a total value of USD 13.13 Million (about Rs 100.40 crores approx). Ordered items are expected to be delivered within eighteen months, the company said in its release.
Sandip Das
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