Gift Nifty Up 63 Points | HCL Tech Q4 Results | Maruti Suzuki Declares Dividend | Top Buzzing Stocks Today

Mon, 29 Apr Pre-Open

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Indian share markets reversed the trend as the session progressed and ended the lower.

After starting higher on Friday, equity markets had an anti-climatic end today dragged by Bajaj Finance, Bajaj Finserv.

The markets were impacted by the US market which fell after the country's GDP grew at a slower-than-expected pace and showed persistent inflation.

At the closing bell on Friday, the BSE Sensex closed lower by 609 points (down 0.8%).

Meanwhile, the NSE Nifty closed lower by 150 points (down 0.7%).

Tech Mahindra, Bajaj Auto and BPCL were among the top gainers.

Bajaj Finance, Bajaj Finserv and Nestle on the other hand, were among the top losers.

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

Broader markets ended the day higher. The BSE Mid Cap ended 0.8% higher and the BSE Small Cap index ended 0.3% higher.

Sector indices are trading on mixed, with stocks in power sector, oil & gas sector witnessing buying. Meanwhile stocks in banking sector and auto sector witnessed selling pressure.

Gold prices for the latest contract on MCX were trading 0.7% higher at Rs 71,710 per 10 grams at the time of Indian market closing hours on Friday.

At 7:50 AM today, the Gift Nifty was trading up by 63 points at 22,653 levels.

Indian share markets are headed for a positive start today following the trend on Gift Nifty.

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.

Top buzzing stocks today

Bajaj Finserv share price will be in focus today.

Bajaj Finserv on 26 April reported a 20% on-year rise in consolidated net profit at Rs 21.2 bn for the fourth quarter of the financial year 2023-24, on the back of strong growth clocked by Bajaj Finance.

The company's total consolidated income rose 35.6% on-year to Rs 320.4 bn.

Zensar Technologies will also be a top buzzing stock.

Shares of Zensar Technologies Limited jumped 12% to Rs 644 in the afternoon on 26 April after the company reported a robust set of numbers for the March quarter.

The company's profit after tax (PAT) rose 7% to Rs 1.7 bn from the year-ago period. Revenue was up 2.1% quarter-on-quarter (QoQ) at Rs 12.3 bn.

Maruti Suzuki Declares Dividend

Maruti Suzuki India, on Friday, reported a 48% rise in its net profit to Rs 38.8 billion (bn) for the March 2024 quarter, on account of higher sales volume and favourable commodity prices.

The company's profit after tax (PAT) during the corresponding period last year stood at Rs 26.2 bn.

The country's largest carmaker registered a revenue of Rs 382.4 bn in the three months ended 31 March.

Additionally, the company declared its highest-ever dividend of Rs 125 per share.

The New Delhi-headquartered firm, which has a wider portfolio of products such as the Baleno, Swift, Jimny, Grand Virara and Invicto, reported a Q4FY24 sales volume of 584,031 units against 514,927 units in the year-ago period, recording a 13% jump.

For the entire financial year, the company's standalone net profit went up by over 64% to Rs 132.1 bn as against Rs 80.5 bn during the previous year ended March 2023. Its total revenue from operations went up by nearly 20% to Rs 1,409.3 bn in the year ended March 2024 compared to Rs 1,175.2 bn during FY23.

Maruti Suzuki has recently expanded the manufacturing capability at its Manesar plant in Haryana by 100,000 units per year, taking the total capacity to 900,000 vehicles per year at the unit.

Maruti is aiming for the skies and plans to launch electric air copters by 2025. For more, check out Maruti's New Technology Might Forever Alter the Electric Vehicle (EV) Market.

Also, check out Can Tata Motors, Maruti Suzuki Crash After India's EV Policy 2024?

HCL Tech Q4 results

HCL Technologies (HCLTech) on 26 April reported a net profit of Rs 39.9 bn in Q4FY24, as against Rs 39.8 bn in the year-ago period. The IT firm declared a Rs 18 dividend.

The company posted a 7.1% increase in revenue at Rs 284.9 bn in Q4FY24 as compared to Rs 266.1 bn in the year-ago period.

EBIT margin or operating margin for Q4 stood at 17.6%.

Full-year revenue came in at Rs 1.1 trillion (tn), growing 8.3% YoY. This was a 5% growth Yoy in constant currency terms, in line company's guidance of 5-5.5% growth.

The company slashed its constant currency revenue growth guidance for FY25 to be between 3-5%, down from 5-5.5% in FY24.

Operating or EBIT margins guidance was kept the same as FY24 at 18-19%.

The IT firm also announced an interim dividend of Rs 18 per share of Rs 2 face value. 7 May 2024 has been fixed as the record date for payment of the interim dividend.

Atul Q4 Net Profit Falls 37%

Atul Ltd on 26 April reported a 37% year-on-year drop in consolidated net profit at Rs 584.1 million (m) in the fiscal fourth quarter, as expenses couldn't keep pace with revenue.

Revenue rose 1.4% to Rs 12.1 bn. The company's total expenses rose over 4% on year to Rs 11.5 bn.

The company has three segments - life science chemicals, performance and other chemicals, and others. The performance and another segment which contributed the maximum revenue of Rs 8.7 bn in the March quarter, rose almost 5% on the year.

Atul Ltd is an integrated chemical company which serves around 4,000 customers belonging to 30 industries across the world. The company has subsidiary companies in the US, the UK, China, Brazil and the UAE.

The company claims to manage about 1,350 products and formulations.

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

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