All the sectoral indices ended in the red, with auto, bank, FMCG, power, metal, realty, healthcare, capital goods indices down 1-3 percent. BSE midcap index shed 2.63 percent and the smallcap index 2.11 percent
The equity benchmark lost more than 2 percent on May 4 after the Reserve Bank of India (RBI) in a surprise move hiked rates amid high inflation. At close, the Sensex was down 1,307 points, or 2.29%, at 55,669.03, and the Nifty was down 392 points, or 2.29%, at 16,677.60.
Britannia Industries | CMP: Rs 3,381.35 | FMCG major Britannia Industries’ share price gained over 3 percent after the company reported a 5 percent rise in consolidated net profit at Rs 377.95 crore in the March quarter against Rs 360.07 crore in the year-ago period. Its revenue grew 15.5 percent to Rs 3,508 crore in the fourth quarter, up from Rs 3,038 crore in the same quarter of the previous year.
Adani Ports and Special Economic Zone | CMP: Rs 812.80 | Adani Ports and Special Economic Zone share price fell 5 percent. The company handled a cargo volume of 28.64 MMT in April 2022 versus 24.46 MMT in April 2021, implying a year-on-year (YoY) of 17%. The agriculture cargo and fertiliser handling at its ports increased 350% YoY. Overall, April was the second consecutive month, with cargo volumes crossing a record level of 28 MMT, the company said in a release.
JSW Energy | CMP: Rs 309.75 | The share price ended in the green after the power-generation company recorded an eight time year-on-year growth in consolidated profit at Rs 864.3 crore in Q4FY22, with EBITDA climbing 79 percent YoY to Rs 1,131.8 crore led by one-time reversal of provision due to tariff true-up order of the Karcham Wangtoo plant. Revenue during the quarter increased by 55.5 percent to Rs 2,440.7 crore from the year-ago period, with generation higher by 15 percent on higher long-term sales.
Titan Company | CMP: Rs 2,288.40 | Titan Company share price declined 4, a day after the Tata group firm reported a 7.2 percent fall in on-year net profit to Rs 491 crore for the quarter ended March. The company’s revenues in the quarter grew merely 2 percent on-year to Rs 7,276 crore. The company’s board has recommended a dividend of Rs 7.5 a share for the financial year ended March 31, 2022.
Tata Steel | CMP: Rs 1,261.45 | Tata Steel share price shed more than 2 percent despite the company reporting a consolidated net profit of Rs 9,835.12 crore for the quarter ended March 2022, a 37.3 percent growth over Rs 7,162 crore profit logged in the year-ago quarter. The firm also announced a stock split at 10:1. India’s largest steelmaker reported 39 percent year-on-year (YoY) growth in consolidated revenue at Rs 69,323.50 crore during the fourth quarter, with Tata Steel India showing a 34 percent growth YoY at Rs 36,681 crore and Tata Steel Europe clocking a massive 53 percent growth at Rs 26,389 crore in the same period.
Hero MotoCorp | CMP: Rs 2,411.90 | Hero MotoCorp shares slipped 3 percent after the company posted a 27.5 percent fall in its Q4 net profit at Rs 627 crore against Rs 865 crore. Revenue was down 14.6% at Rs 7,421.7 crore from Rs 8,686 crore in the year-ago period. Earnings before interest, tax, depreciation and amortization (EBITDA) were down 31.7% at Rs 827.6 crore from Rs 1,211 crore and the margin was at 11.2% versus 13.9%, YoY.
JBM Auto | CMP: Rs 527.15 | JBM Auto share price added 5 percent after the company clocked a 162 percent year-on-year growth in consolidated profit at Rs 85.8 crore, driven by strong topline and operating income. Revenue during the quarter grew 44 percent YoY to Rs 1,072 crore with a strong growth in component and OEM segments.
Astec Lifesciences | CMP: Rs 1,859.65 | Astec Lifesciences’ share price touched a 52-week high of Rs 2,174.90 intraday but then shed over 4 percent despite clocking a massive 80 percent year-on-year growth in profit at Rs 43 crore driven by strong realizations in export markets and healthy volume growth in contract manufacturing. The company’s revenue grew by 58 percent to Rs 272 crore and EBITDA increased by 82 percent to Rs 72 crore with 345 bps improvement in margin compared to corresponding period last fiscal.
Alembic Pharma | CMP: Rs 732 | Alembic Pharmaceuticals ‘share price fell 7 percent. The company announced that its wholly owned subsidiary, Aleor Dermaceuticals Limited (Aleor), had received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Docosanol Cream, 10% (OTC). The approved ANDA is therapeutically equivalent to the reference listed drug product Abreva Cream, 10% (OTC), of GlaxoSmithKline Consumer Healthcare. Docosanol Cream, 10% (OTC) is used for cold sore and fever blisters on the face or lips, the company said in a release.
Adani Enterprises | CMP: Rs 2,248.05 | Adani Enterprises’ share price fell 4 percent after its step- down subsidiary Mumbai International Airport Limited raised $ 750 Million by way of dollar- denominated Senior Secured Fixed Rate Bonds with a tenure of 7.25 years.
Rakesh Patil
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