SGX Nifty Trades Flat, TVS Motor Partners Rapido, HUL March Quarter Results, and Top Buzzing Stocks Today

Thu, 28 Apr Pre-Open

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Indian equity markets are expected to remain volatile today amidst the expiration of monthly derivatives.

On Wednesday, Indian share markets ended on a negative note tracking weak global cues.

Bloodbath on Wall Street owing to huge sell-off in tech and ongoing fears of a slowdown in global growth dented sentiment.

At the closing bell on Wednesday, the BSE Sensex plunged 537 points, ending 1% lower.

Meanwhile, the NSE Nifty dipped 162 points, ending at 17,038.

Tata Steel, Asian Paints, and TCS were among the top gainers.

Bajaj twins, ICICI Bank, and Titan were among the top losers.

In broader markets, the BSE Mid Cap index ended 0.9% lower while the BSE Small Cap index ended down by 0.6%.

All sectoral indices ended on a negative note with power, banking, and telecom stocks witnessing most of the selling.

Shares of Adani Enterprises and Reliance Industries hit their 52-week high.

At 8:00 am today, the SGX Nifty was trading up by 8 points or 0.1% higher at 17,050 levels.

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

Market experts are also of the view that the Reserve Bank of India (RBI) will start hiking repo rates in June, earlier than forecasts made a few weeks ago.

Speaking of interest rates, you probably would be worried about rising inflation.

We recently recorded a video on Equitymaster YouTube Channel voicing means to beat markets during such times.

Tune in to the video below to know more:

Top Buzzing Stocks Today

Tata Motors will be among the top buzzing stocks today.

Tata Group's Jaguar Land Rover (JLR) has initiated an "Open Innovation strategy", to accelerate next-generation technology and sustainability to support its modern luxury vision for the business.

The company plans to explore everything from second-life batteries and circular economy to new fintech, insurtech, and digital services which are aligned with JLR as the creators of modern luxury.

Ruchi Soya Industries share price will continue to be in focus today.

The edible oil industry in India got a big relief after Indonesia clarified that it would only halt exports of some palm oil products instead of a complete ban as widely expected.

Russia's invasion of Ukraine has hit vegetable oil supplies from the two nations that ship about 80% of sunflower oil cargoes.

In an interview, the company's CEO said India can replace sunflower oil supplies with soybean oil.

Heavy volumes have led a surge in the company's share price in an otherwise weak market.

Market participants will also track shares of Ambuja Cements, Axis Bank, Bajaj Finserv, Vedanta, P&G, and Varun Beverages as these companies will report their March quarter earnings later today.

HUL March Quarter Results

FMCG giant Hindustan Unilever on Wednesday reported 8.6% year-on-year (YoY) rise in bottom line, despite anomalous inflation, at Rs 23.3 bn for the March quarter compared with Rs 21.4 bn in the same quarter last year.

A slowdown in demand and unprecedented inflation stoked by record energy costs, broken supply chains, and the Russian invasion of Ukraine has shackled growth in the consumer goods market.

HUL posted 10% growth in net sales at Rs 131.9 bn and 10% growth in earnings before interest, tax, depreciation and amortization (EBITDA) at Rs 32.5 bn for the period under review.

The company maintained healthy operating margins at 24.6% having resorted to a price hike of household staples from cookies to milk.

Segment wise, home care grew at 24% led by strong performance in Fabric Wash and Household Care. Beauty & Personal Care grew competitively at 4%.

Skin cleansing delivered double digit growth driven by pricing. Hair Care continued its strong competitive performance in the quarter under review.

The company's board has recommended a dividend of Rs 19 per share. With this, the total dividend for fiscal 2022 comes at Rs 34 per share.

To know more about the company, check out HUL' financial factsheet and its latest quarterly results.

TVS Motor Enters into a Strategic Partnership with Rapido

Two-wheeler major TVS Motor signed a Memorandum of Understanding (MoU) with Rapido, a leading on-demand delivery and mobility platform.

The deal will look to leverage on synergies of respective businesses in the fast-moving mobility market in India.

This partnership will cover both two-wheeler and three-wheeler vehicles and extend across internal combustion engine and electric vehicle (EV) segments.

According to TVS, the hyperlocal mobility segments like bike-taxi, auto-taxi, and delivery has experienced a significant boom and now represents a potential US$ 15 bn opportunity.

The deal is in line with TVS Motor's aim to have EV across segments like delivery, commuter premium, high-performance sports, and electric three-wheelers while expanding the presence of TVS iQube Electric across all major cities in India.

On the partnership, Joint Managing Director of TVS Motor, Sudarshan Venu said:

• Rapido has built a strong user base of Captains and Riders and is the leading bike-taxi platform in India today.
  
  We believe we can expand our reach in the mobility and hyper-local segments using high-quality, connected products from the TVS Electric portfolio and financing from our group.

Speaking of EVs, have a look at the chart below which shows the massive opportunity in the two-wheeler EVs.

LIC IPO Updates

The government has announced the date and price band for the upcoming IPO of Life Insurance Corp (LIC).

The much-awaited IPO of the state-run insurance behemoth is set to open on 2 May for anchor investors and on 4 May for subscription.

The government is selling over 22 bn shares at a price band of Rs 902-949 apiece in the initial public offering which will close on 9 May.

As per the final papers filed with markets regulator, the allotment of shares to the demat account of bidders will happen by 16 May, post which LIC would be listed on or about 17 May.

Even after the reduced size, the IPO is going to be the biggest in India.

We will keep you updated on the latest developments from this space. Stay tuned.

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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