SGX Nifty Down 16 Points | TCS Q4 Results & Final Dividend | Why Oil Price is Rising | Top Buzzing Stocks Today

Thu, 13 Apr Pre-Open

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On Wednesday, Indian share markets continued their momentum as the session progressed and ended higher.

Benchmark indices ended higher for 8th session on Wednesday as investors awaited retail inflation data for March (both for India and the US) and the official kickoff of the earnings calendar with TCS declaring its quarterly results on Wednesday.

At the closing bell on Tuesday, the BSE Sensex stood lower by 235 points (up 0.4%).

Meanwhile, the NSE Nifty closed higher by 99 points (up 0.5%).

Adani Enterprises and Bajaj Auto were among the top gainers.

Nestle and NTPC, on the other hand, were among the top losers.

The BSE Midcap index rose 0.5% while the BSE SmallCap index ended 0.4% higher.

Sectoral indices ended on a mixed note with stocks in the IT sector and auto sector witnessing most of the buying.

On the other hand, stocks from the FMCG sector, and power sector witnessed selling pressure.

Shares of Bajaj Auto and Bharat Dynamics hit their 52-week high on Wednesday

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...

Gold prices for the latest contract on MCX were trading higher by 0.3% at Rs 60,692 per 10 grams at the time of Indian market closing hours on Wednesday.

At 8:20 AM today, the SGX Nifty was trading down by 16 points or 0.1% lower at 17,860 levels.

Indian share markets are headed for a flat opening today following the trend on SGX Nifty.

Speaking of stock markets, real estate stocks are back in the news. The sector is in the middle of a recovery.

Home prices are stable and rising. But does this mean all realty stocks will do equally well?

Chartist Brijesh Bhatia answers these question in the below video.

Top Buzzing Stocks Today

Paras Defence will be among the top buzzing stocks today.

Paras Defence's subsidiary Paras Anti-drone Technologies on Wednesday signed a pact with Mumbai-based Spacekawa Explorations.

The pact is for the indigenous development and deployment of space intelligence, surveillance, and reconnaissance payloads, including RF wideband software-defined radio.

Shakti Pumps will also be in focus today.

Shakti Pumps on Wednesday commenced commercial operations of its solar-powered piped drinking water supply project in Uganda.

TCS Q4 profit rises 15%

IT giant TCS on Wednesday reported a 16.9% YoY rise in revenue to Rs 591.6 billion (bn), against revenue of Rs 505.9 bn a year back. In constant currency terms, the revenue rose 10.7% YoY.

While the net profit for March 2023 quarter rose 15% to Rs 114.3 bn (US$ 1.4 bn). It reported a profit of Rs 108.5 bn in the same quarter last year.

Earnings before interest and taxes (EBIT) stood at Rs 144 bn, with EBIT margin contracting 0.5% YoY to 24.5%. Net margin came in at 19.3%.

The order book for the quarter stood at US$ 10 bn, with the total FY23 order book TCV (Total contract Value) coming in at US$ 34 bn.

The company also declared a final dividend of Rs 24 per share, taking its total dividend payout for the financial year 2022-23 to Rs 107 per share. TCS has already paid Rs 83 per share in dividends for the last financial year in three instalments.

TCS has remained an investor's favorite stock for a long time.

This is because it has created phenomenal wealth for its shareholders since its listing in 2004 and has always been among the most admired companies in India.

If you had invested Rs 1 lakh in TCS shares at the issue price of Rs 850 in the IPO in 2004, the value of that investment today would be around Rs 3,176,000, a return of almost 3,000%.

However, the share price of TCS has dropped by 9% in the past month, trading near its 52-week low levels, to know why check put why TCS share price is falling.

With revenue growth of 10% in 5 years, it is the top IT company in India by revenue.

Oil Edges Higher

Oil prices edged up on Wednesday as the market waited for US inflation data later in the day that will likely influence the Federal Reserve's policy on future interest rate hikes.

Brent crude gained 0.2% to US$ 85.8 a barrel, while US West Texas Intermediate rose 0.2% to US$ 81.6 a barrel.

Prices had risen about 2% on Tuesday amid optimism that the US Federal Reserve is getting closer to ending its cycle of interest rate hikes, making dollar-priced oil cheaper for buyers holding other currencies.

Data from China, however, showed consumer inflation in March rose at its slowest pace since September 2021, suggesting demand weakness persists in an uneven economic recovery.

Crude oil futures have climbed around 7% since the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, surprised the market last week with further cuts to production targets from May.

Since oil price movements interest you, explore stocks benefitting from falling crude oil prices.

HDFC Bank signs agreement with Export Import Bank of Korea

HDFC Bank, on Wednesday, entered into a master inter-bank credit agreement with Export Import Bank of Korea, securing a US$ 300 million (m) credit line.

The agreement was signed at GIFT City in Gandhinagar, facilitating HDFC Bank to raise foreign currency funds to be extended to Korea-related businesses.

The credit will be used to fulfil the funding requirements of companies having equity participation by Korean companies and companies with business relationships with Korean companies. Additionally, it will finance consumers for purchasing cars manufactured by Korean-related companies.

This agreement is expected to enhance HDFC Bank's business with Korean entities and products. The first drawdown under the program is scheduled for May 2023.

Here's an interesting data point...If you had invested Rs 10,000 in HDFC bank's IPO in 1995, today, your investment would have grown to Rs 152 m. With this stellar return over the years, it is among India's favorite stocks.

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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