Sensex Today Trades Higher | Metal Stocks Shine | ICICI Prudential Falls 6%, Tata Consumer 4%

Wed, 24 Apr 10:30 am

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Japan's Nikkei 225 led gains in Asia as markets in the region rose across the board, following Wall Street's continued rally for a second straight day.

The Japanese benchmark jumped 1.83%, while the broad based Topix was up 1.03%.

The US stock market climbed for a second straight session on Tuesday as a strong batch of corporate earnings assuaged concerns over higher rates.

Here's a table showing how US stocks performed on Tuesday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	159.92	1.97	1.25%	160.48	157.97	161.7	103.27
Apple	166.82	0.98	0.59%	167.05	164.92	199.62	162.8
Meta	495.78	14.04	2.92%	498.76	488.97	531.49	207.13
Tesla	144.61	2.56	1.80%	147.26	141.11	299.29	138.8
Netflix	577.52	22.92	4.13%	579.21	555.28	639	315.62
Amazon	179.52	2.29	1.29%	179.93	175.98	189.77	101.15
Microsoft	407.06	6.1	1.52%	408.2	403.06	430.82	275.37
Dow Jones	38503.69	263.71	0.69%	38561.5	38297.72	39889.05	32327.2
Nasdaq	17471.47	260.59	1.51%	17513.31	17277.25	18464.7	12724.24

Source: Equitymaster

At present, the BSE Sensex is trading 150 points higher and NSE Nifty is trading 44 points higher.

Cipla, Tata Steel and Nestle are among the top gainers today.

HDFC Life, HUL and Infosys the other hand are among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets are trading on positive note. The BSE Midcap index is trading 0.6% higher and the BSE Small Cap index are trading 0.8% higher.

Barring telecom sector and FMCG sector all other sectoral indices are trading positive, with socks in realty sector, metal sector and healthcare sector witnessing buying.

The rupee is trading at Rs 83.29 against the US dollar.

In commodity markets, gold prices are trading marginally higher at Rs 71,097 per 10 grams today.

Meanwhile, silver prices are trading 0.4% higher at Rs 81,000 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock markets, Tejas Networks shares gained momentum after Tata Sons acquired a controlling stake in the company.

In the latest video, Research Analyst, Tanushree Banerjee why this Tata Stock outran Tata Elxsi.

Tune in to find out more.

Tata Elxsi Q4 Results

Design and technology services company Tata Elxsi on 23 April reported a net profit of Rs 1.9 bn for the quarter ended 31 March, declining both sequentially and annually.

The company also announced a dividend of Rs 70 per share for the financial year 2023-24.

The net profit was down 4.6% quarter-on-quarter compared to Rs 2.1 bn reported in the October to December period of FY24 and lower by 2.3% against Rs 2 bn in the March quarter of FY23.

The company's total revenue from operations stood at Rs 9.0 bn in the March quarter, which was lower compared to Rs 9.1 bn in Q3FY24, but higher than Rs 8.4 bn recorded in Q4FY23.

For the full year, the company reported a profit after tax of Rs 7.9 bn in FY24, jumping 4.9% YoY and a revenue of Rs 35.5 bn, gaining 13% YoY.

In terms of sectors, the company's transportation segment recorded a growth of 20.4% YoY in CC terms, it was supported by large deals and sustained traction in software-defined vehicles.

Healthcare and media & communications segments also posted growths of 7.6% and 2.6% YoY respectively.

The company also added 178 employees compared to the previous quarter, taking the total headcount to 13,399 at the end of the March quarter. The attrition rate for the said quarter was 12.4%, down from 12.9% in the December quarter.

NHPC Signs Supplementary JV Agreement

State-owned NHPC Ltd on Tuesday said it's divesting its stake in National High Power Test Laboratory Pvt Ltd (NHPTL) by signing a supplementary joint venture agreement (SJVA) with its JV partners, including NTPC, PowerGrid, Damodar Valley Corporation, Central Power Research Institute and NHPTL itself.

The agreement, finalised on 23 April 2024, marks the sale of a partial stake in NHPTL, an unlisted company, with an expected completion during the fiscal year 2024-2025.

NHPC disclosed that the total revenue of NHPTL as of 31 March 2023 amounted to Rs 2023.11 lakh, while its net worth stood at a negative value of ?18953.15 lakh during the same period. NHPC currently holds a 20% share in NHPTL.

Discover Now: The Key to Stress-free Investing

As per the terms of the agreement, NHPC will sell 1,31,63,750 shares to PowerGrid Corporation of India Ltd (PGCIL) at a notional total consideration of Rs 1.

PGCIL, an existing promoter of NHPTL, is a Schedule 'A' and 'Maharatna' Public Sector Enterprise under the Ministry of Power, known for its pivotal role in bulk power transmission across India.

Following the transaction, the equity shareholding of PowerGrid in NHPTL will increase to 50%, while the remaining 50% will be held equally by the other four parties, namely NHPC, NTPC, DVC, and CPRI, each holding 12.5%.

Before the agreement, each promoter held a 20% equity stake in NHPTL.

The transaction, exempt from being categorised as a related party transaction due to the involvement of government entities, is anticipated to have no significant impact on NHPC.

As Power stocks have found favour after a long wait, NHPC stands among Top 5 Penny Stocks to Watch Out for in India's Booming Power Sector.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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