SGX Nifty Up 78 Points | Wipro's Rs 120-bn Share Buyback | Tech Mahindra Q4 Results | Top Buzzing Stocks Today

Fri, 28 Apr Pre-Open

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On Thursday, Indian share markets climbed steadily throughout the trading session, and ended near day's high.

Benchmark indices rose for the seventh session in a row as strong earnings from major firms like Bajaj Finance overshadowed rising recession fears in the US.

At the closing bell on Thursday, the BSE Sensex stood higher by 349 points.

Meanwhile, the NSE Nifty closed higher by 101 points.

Bajaj Auto and BPCL were among the top gainers.

HDFC Life Insurance and HUL on the other hand, were among the top losers.

The BSE Midcap index ended 0.5% higher. While the BSE SmallCap index ended 0.6% higher.

Sectoral indices ended on a mixed note with stocks in the realty sector and IT sector witnessing most of the buying. While power stocks witnessed selling.

Shares of Bajaj Auto and Nestle hit their 52-week high on Thursday.

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...

The rupee was trading at 81.83 against the US$.

Gold prices for the latest contract on MCX were trading higher by 0.5% at Rs 60,165 per 10 grams at the time of Indian market closing hours on Thursday.

At 7:40 AM today, the SGX Nifty was trading up by 78 points or 0.4% higher at 18,060 levels.

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

Speaking of stock markets, drones are the next big thing. From spreading fertilizers, seeds and pollination, to sending vaccines, delivering a regular parcel, surveillance measures, disease control, mining, disaster management and so on... drones have risen beyond a concept and imagination to become a part of regular life.

And yet, this is just the beginning for India. The country aims to position itself as a global drone hub by 2030.

As the domestic drone industry seems set for a supernormal growth, Richa Agarwal highlights the best drone stocks to keep on your watchlist.

Top Buzzing Stocks Today

HUL will be among the top buzzing stocks today.

Hindustan Unilever Limited (HUL) yesterday reported a 10.8% YoY increase in revenue to Rs 150.5 billion (bn) compared to the same period last year. The jump was led by higher demand for its home, beauty, and personal care products.

Goldiam International will also be in focus today.

Goldiam International received export orders worth Rs 500 m for manufacturing diamond-studded gold jewellery. Lab-grown diamond jewellery contributes around 35% of the export order.

Key quarterly results

Wipro: IT major Wipro on Thursday reported an 11.2% YoY rise in revenue to Rs 231.9 bn from Rs 208.6 bn in the same quarter last year.

Net profit came in at Rs 30.7 bn, down 0.4% YoY from Rs 30.8 bn a year back.

The company also approved a proposal to buyback up to 269.6 m equity shares for an aggregate amount not exceeding Rs 120 bn for Rs 445 per share, accounting for 4.9% of the total paid-up equity shares of the company.

The company's IT services segment revenue increased 4% YoY to US$ 2.8 bn.

However, the company closed the financial year 2023 with the strongest-ever bookings recorded in a year.

In the past one month, Wipro's share price has fallen around 8%, hitting a 52-week low. To know why, check out Why Wipro share price is falling.

Tech Mahindra: The company on 27 April 2023, reported a 13% YoY rise in revenue at Rs 137.2 bn.

Net profit for the quarter came in at Rs 11.3 bn, down 27% YoY, as challenging macroeconomic conditions prompted clients to tighten spending.

The big miss came on the operating margin front. EBIT margin for the quarter was 9.6%.

The company's board recommended a final dividend of Rs 32 per equity share of Rs 5 face value, which is 640% of the face value for the financial year 2023.

The final dividend, if approved, will be paid by 11 August 2023. This dividend is in addition to a special dividend of Rs 18 per share paid as an interim dividend in November 2022.

The total dividend for FY23 will be Rs 50 per share on a par value of Rs 5 each, which is 1,000%.

Tech Mahindra shares shed 7% in a day last week, falling the most in three years. To know why, check out why Tech Mahindra share price is falling.

Godrej Consumer to acquire Raymond's Consumer Care business

Godrej Consumer Products, on 27 April 2023, announced the acquisition of Raymond Consumer Care business for Rs 28.3 bn (US$ 386 million).

The acquisition will give Godrej access to Raymond's personal care brands, including Park Avenue, Kamasutra, and Raymond. The deal will also provide Godrej Consumer with a strong foothold in the male grooming and fragrance segments.

Raymond is a leading player in the deodorants and sexual wellness categories with brands like Park Avenue.

These categories have the potential to deliver double-digit multi-decade growth given the low per capita consumption in India compared to similar emerging markets.

Godrej Consumer is one of the leading FMCG companies in India. The company has five product segments - soaps, hair colors, liquid detergents, and air fresheners.

Bitcoin settles at US$ 29,000

Bitcoin pushed back toward US$ 30,000, extending a recent period of turbulence around the closely watched round-number level.

The largest crypto rose as much as 3.7% on Thursday before paring the advance to trade at US$ 29,055.

Smaller tokens, including Ether, Cardano and Avalanche made gains too.

Snap volatility had kicked in following the Wall Street open as bulls' trip to US$ 30,000 was rudely interrupted by fears that BTC from wallets controlled by the US government and entities related to defunct exchange Mt. Gox were on the move.

Since cryptos interest, you, check out the best cryptos to invest.

And to know what's moving the Indian stock markets, 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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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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