Sensex Today Trades Flat | Nifty Below 22,350 | Kotak Mahindra Bank Tanks 9%

Thu, 25 Apr 10:30 am

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Asian stocks fell on Thursday as disappointing earnings forecasts from Facebook parent Meta Platforms hammered tech shares, while the yen's slump past 155 per dollar for the first time since 1990 raised the spectre of intervention from Tokyo.

Japan's Nikkei slid 1.3%, while China stocks also fell and Hong Kong's Hang Seng Index 0.5% lower.

US stocks were mixed on Wednesday as traders prepared for the release of first-quarter GDP data and digested the latest round of corporate earnings.

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

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	161.1	1.18	0.74%	161.39	158.82	161.7	103.27
Apple	169.02	2.12	1.27%	169.3	166.21	199.62	162.8
Meta	493.5	-2.6	-0.52%	510	484.58	531.49	207.13
Tesla	162.13	17.45	12.06%	167.97	157.51	299.29	138.8
Netflix	555.12	-22.63	-3.92%	576.91	551.3	639	315.62
Amazon	176.59	-2.95	-1.64%	180.32	176.18	189.77	101.15
Microsoft	409.06	1.49	0.37%	412.47	406.78	430.82	275.37
Dow Jones	38460.92	-42.77	-0.11%	38552.79	38310.55	39889.05	32327.2
Nasdaq	17526.8	55.33	0.32%	17653.66	17435.33	18464.7	12724.24

Source: Equitymaster

At present, the BSE Sensex is trading 33 points Lower and NSE Nifty is trading 20 points lower.

Axis Bank, TCS and Nestle are among the top gainers today.

Titan, HUL and Kotak Mahindra 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 0.2% higher and the BSE Small Cap index are trading 0.4% higher.

Sectoral indices are trading mixed, with socks in telecom sector, IT sector witnessing buying. Meanwhile stocks in banking sector and realty sector witnessed selling pressure.

The rupee is trading at Rs 83.38 against the US dollar.

In commodity markets, gold prices are trading 0.4% lower at Rs 70,778 per 10 grams today.

Meanwhile, silver prices are trading 0.4% lower at Rs 81,900 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, Asian Paints had been one of the earliest companies to buy a supercomputer.

But the company's capex plans did end up be ill timed during economic meltdowns.

In the latest video, Research Analyst, Tanushree Banerjee talks about can it repeat its history.

Tune in to find out more.

HUL Q4 Results

Hindustan Unilever on 24 April reported a 6% fall in standalone net profit at Rs 24.1 bn for the fiscal fourth quarter as against Rs 2,552 crore in the year-ago period.

Hindustan Unilever's sales rose only marginally to Rs 146.9 bn in the fourth quarter, with revenue in a key segment, beauty and personal care, declining 2.7%.

Consolidated total expenses came in at Rs 121 bn in Q4, up 1.1% from Rs 119.6 bn reported during the same period last year.

Sequentially, consolidated net profit went up 1.9% from Rs 25.1 bn reported in Q3. Consolidated income fell 2.1% from 157.8 bn in Q3, and total expenses fell 1.6% from Rs 123.1 bn in the last quarter.

Consolidated net profit for the entire financial year 2023-24 came in at Rs 102.8 bn, a marginal 1.4% increase from Rs 101.4 bn reported at the end of last year.

Consolidated total income for the company came in at 627.1 bn for FY24, up 2.6% from Rs 610.9 bn reported at the end of FY23. Total expenses for the firm also went up 2.3% at Rs 487.8 bn from Rs 476.8 bn year-on-year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for the fourth quarter was Rs 35.4 bn. Ebitda's margin stood at 23.1%.

HUL announced a final dividend of Rs 24 per share for FY24 on equity shares of face value of Re 1.

The company had earlier paid an interim dividend of Rs 18 per share on 16 November 2023. The total dividend for FY24 amounts to Rs 42 per equity share of face value of Re 1 each.

HUL slumps 13% in three months. To know what is behind this bluechip stock slide, check out our editorial Why HUL Share Price is Falling.

Delhivery's Stake Sell

The Canada Pension Plan Investment Board on Wednesday divested a 2.8% stake in supply chain and logistics firm Delhivery for Rs 9.1 bn through an open market transaction.

US-based financial services company Capital Group, Fidelity Investments, HSBC, and the Master Trust Banker Japan Ltd A/C HSBC Indian Equity Mother Fund were the buyers of Delhivery shares on the NSE.

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According to the block deal data available with the National Stock Exchange (NSE), the Canada Pension Plan Investment Board (CPPIB) sold 2,04,50,000 shares, amounting to a 2.8% stake in Delhivery.

The shares were disposed of at an average price of Rs 444.3 per piece, taking the transaction value to Rs 9.1 bn.

After the latest transaction, CPPIB's shareholding has declined to 3.2% from 5.9% (as of March 2024 shareholding data showed on the BSE).

On Wednesday, shares of Delhivery fell 0.1% to close at Rs 448 apiece on the NSE.

In September 2019, CPPIB announced that it had bought an 8% stake in Gurugram-based Delhivery for USD 115 million.

Recently, Japanese conglomerate Softbank, too, diluted its stake in Delhivery through separate block deals in March and November 2023.

ITC Hotels Demerger

ITC has set 6 June as the date to meet ordinary shareholders to approve the demerger scheme. This follows the National Company Law Tribunal (NCLT) order to convene a meeting of the ordinary shareholders.

In August last year, the ITC board approved the demerger of its hotel business with an indicative timeline of 15 months for the listing of ITC Hotels. ITC Hotels will operate as an independent hospitality-focused listed entity.

The rationale of the demerger, as per the company, is to enable the crafting of the next horizon of growth and sustained value creation for shareholders through a sharper focus on the business anchored on a differentiated strategy aligned with industry-specific market dynamics.

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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