SGX Nifty Trades Higher, Titan & Godrej Properties Q4 Results, Delhivery IPO, and Top Buzzing Stocks Today

Wed, 4 May Pre-Open

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On Monday, Indian share markets ended on a flat note.

At the closing bell on Monday, the BSE Sensex fell 85 points, ending 0.2% lower.

Meanwhile, the NSE Nifty dipped 33 points, ending at 17,069.

IndusInd Bank, NTPC, and Power Grid were among the top gainers.

Titan, Tech Mahindra, and Wipro were among the top losers.

Broader markets witnessed profit booking as BSE Mid Cap index ended 0.5% lower while the BSE Small Cap index dipped 0.9%.

Stocks from the capital goods, auto, and IT sectors witnessed most of the selling while buying was seen in FMCG and metal sector.

Shares of CRISIL and Amber Enterprises hit their 52-week high.

At 8:00 am today, the SGX Nifty was trading up by 74 points or 0.5% higher at 17,070 levels.

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

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Top Buzzing Stocks Today

Amber Enterprises share price will be among the top buzzing stocks today.

Shares of the company hit a record high on Tuesday on expectation of strong room air conditioner (AC) volumes with the onset of summer and heat waves across various parts of the country.

Godrej Properties share price will also be in focus today.

The Mumbai-based real estate firm yesterday reported consolidated profit of Rs 2.6 bn for the quarter ended March 2022, as against a loss of Rs 1.9 bn in the corresponding period last fiscal. This was driven by healthy topline growth and operating incomes.

Market participants will also track shares of Adani Green, CarTrade Tech and Kotak Mahindra Bank as these companies are scheduled to announce their March quarter results later today.

Titan Fails to Glitter in Q4

Titan shares will be in focus today as the company on Tuesday reported a 7.2% year-on-year (YoY) drop in its standalone profit at Rs 4.9 bn.

This compared to Rs 5.3 bn reported in the year ago quarter.

Titan's revenue from sales of operations for the quarter under review fell by 3.5% to Rs 67.5 bn compared with Rs 69.9 bn in the same quarter last year.

In the exchange filing, the company said that partial lockdowns, volatility in gold prices and uncertain geopolitical conditions dented performance.

The company's board recommended a dividend of Rs 7.50 per equity share.

Delhivery IPO Next Week?

According to sources close to development, the initial public offering (IPO) of Delhivery is likely to open for subscription on 11 May and close on 13 May.

The logistics and supply chain startup has cut its total issue size to Rs 52.4 bn from Rs 74.6 bn planned earlier. It will now raise Rs 40 bn via the fresh issue and Rs 12.4 bn through an offer for sale (OFS).

Delhivery co-founders will participate in the OFS.

According to the company's DRHP, the proceeds from the issue will fund its organic and inorganic growth initiatives via acquisitions and other strategies.

Delhivery is the largest fully integrated logistics services player in India by revenue. It has built a nationwide network in every state, servicing 17,045 PIN codes or 88.3% of the 19,300 PIN codes in India.

It became a unicorn in 2019 when it raised US$413 m in a Series F round led by SoftBank Vision Fund.

Adani Acquires Kohinoor Rice

Adani group has strengthened its presence in the food segment with the acuisition of Kohinoor rice.

Adani Wilmar on Tuesday announced the acquisition of brand 'Kohinoor' basmati rice along with 'Ready to Cook', 'Ready to Eat' curries and meals portfolio under the Kohinoor Brand umbrella in India.

With this, the company is looking to cement its presence in the staples segment which contributes around 11% to its topline.

Adani Wilmar expects the acquisition to help in further consolidating its market share and leverage the brand for product extension and diversification.

The company's flagship brand Fortune already has a strong presence in packaged foods including packaged wheat flour, rice, pulses, besan, sugar, soya chunks and cereals-based products such as ready-to-cook khichdi.

The Latest on LIC IPO...

India's biggest IPO is all set to open for subscription today.

Ahead of its IPO, LIC received huge interest from Indian mutual funds and anchor investors. Mutual funds pumped over Rs 40 bn into the anchor book as Life Insurance Corporation (LIC) mopped up more than Rs 50 bn ahead of floating its public issue.

The LIC anchor book closed on Monday with 59.2 m shares on offer with 42.1 m units kept for domestic mutual funds. Around 99 mutual funds invested Rs 40 bn, buying the shares at Rs 949 apiece on a price band of Rs 902-949.

Foreign portfolio investors (FPIs), pension funds, corporates and other insurers also participated in the anchor investment.

LIC IPO, India's largest IPO so far with issue of Rs 210 bn, was originally slated to offload 5% of its stake, but it brought down the stake sale on offer to 3.5%.

The price band is set at Rs 902 to Rs 949 per equity share.

Policyholders will get a discount of Rs 60 per share, while employees and retail investors will be entitled to a lower discount of Rs 45.

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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