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India's Third Giant Leap
This Could be One of the Biggest Opportunities for Investors
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- Indian Stock Market News May 12, 2023
SGX Nifty Down 63 Points | Asian Paints Q4 Results & Final Dividend | Why Adani Enterprises Share Price Is Rising | Top Buzzing Stocks to Watch Today Fri, 12 May Pre-Open
On Thursday, Indian share markets pared gains as the session progressed and ended flat.
Benchmark indices succumbed to profit booking as a handful of downbeat earnings from key corporates offset optimism from favorable US inflation data and persistent foreign buying in Indian equities.
At the closing bell on Thursday, the BSE Sensex stood lower by 36 points.
Meanwhile, the NSE Nifty closed down by 9 points.
HUL and NTPC were among the top gainers.
Hindalco and JSW Steel, on the other hand, were among the top losers.
Check out the NSE Nifty heatmap to get the complete list of gainers and losers.
Broader markets ended on a positive note with both the BSE Midcap index up by 0.4% and the BSE Smallcap index ending higher by 0.7%.
Sectoral indices ended on a mixed note with stocks in the power sector, and auto sector witnessing buying.
On the other hand, stocks from the metal sector and capital goods sector witnessed selling pressure.
Shares of Tata Motors and Glenmark Pharma hit their 52-week highs 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 82.09 against the US$.
Gold prices for the latest contract on MCX were trading lower by 0.1% at Rs 61,197 per 10 grams at the time of Indian market closing hours on Thursday.
At 8:00 AM today, the SGX Nifty was trading down by 63 points or 0.3% lower at 18,300 levels.
Indian share markets are headed for a negative opening today following the trend on SGX Nifty.
Speaking of stock markets, Tata Motors is a widely held stock among investors.
It was a superstar performer in 2021. In 2022 and early 2023, things were not so positive.
Since April 2023 however, the stock has been showing signs of a major revival.
What do the technical charts say about the stock? Will Tata Motors be the next ITC?
Chartist Brijesh Bhatia answers all these questions in the below video:
Top Buzzing Stocks Today
L&T will be among the top buzzing stocks today.
For the March 2023 quarter, L&T on Thursday reported a 10% YoY rise in the revenue to Rs 583.4 bn from Rs 528.5 bn a year back.
Net profit for the quarter increased by 10% YoY to Rs 39.9 bn. This was against a net profit of Rs 36.2 bn in the same quarter last year.
HG Infra will also be in focus today.
HG Infra Engineering for the March 2023 quarter reported a 44% YoY rise in revenue at Rs 15.4 bn against Rs 1.7 bn in the year-ago quarter.
Net profit for the quarter came in at Rs 1.7 bn, up 64% YoY for the March 2023 quarter. The company posted a net profit of Rs 1 bn a year back.
Why Adani Enterprises share price is rising
Adani Enterprises, the leading company of the Adani Group, surged 5% on Thursday following the announcement of a board meeting on 13 May 2023 to discuss and approve a fundraising proposal.
During the meeting, the board will evaluate various avenues for raising funds, including the issuance of equity shares or other eligible securities, through different methods.
The other two Group firms, Adani Green Energy and Adani Transmission will consider fundraising on the same day as well.
The fundraising will further ease concerns about the group's ability to service its debt and will help in instilling some confidence among investors.
In addition to fundraising, the impending verdicts are expected to be announced on Friday.
For more details, check out Equitymaster's Indian stock screener which shows all the Adani group companies' fundamental analysis on one screen.
Dig deeper into Adani group stocks.
Asian Paints Q4 net profit jumps 45%
Asian Paints on Thursday reported an 11.3% YoY rise in revenue at Rs 87.8 bn against Rs 78.9 bn in the year-ago quarter.
Net profit for the quarter came in at Rs 12.3 bn, higher by 45.1% YoY from Rs 8.5 bn a year back.
The company's EBDIT (Earnings before depreciation, interest, tax, other income, and exceptional items) rose 29% YoY to Rs 18.7 bn from Rs 14.4 bn a year ago.
In the March 2023 quarter, the company logged in the highest value ever, with the decorative and non-automotive Industrial businesses registering double-digit volume and value growths.
Segment-wise, international business sales dropped 3% YoY in the March 2023 quarter to Rs 7.9 bn on the back of economic uncertainty, the forex crisis, and liquidity issues in key markets of Asia and Africa. In constant currency terms, sales for the segment increased 10%.
In-home decor, its new categories of fabrics, decorative lighting, UPVC doors and windows did well, while Kitchen and bath were sluggish.
In the decorative segment, bath fittings business sales were down 10% YoY in Q4 to Rs 960 m due to subdued retail demand.
For the financial year 2023, the company's board has recommended a final dividend of Rs 21.25 per share.
Going forward, the company plans to focus on customer centricity, innovation, and sustained investment in B2B business coupled with our powerhouse brand, robust supply chain and distribution network.
With having 50% market share in the organized market, it is among the top 3 paint companies in India by growth.
With this astonishing returns, it stands amongst investors' favourite stocks in India.
Aditya Birla Capital Q4 results
Aditya Birla Capital on Thursday posted a revenue of Rs 80.3 bn for the March 2023 quarter. This was 21.2% YoY higher from Rs 66.1 bn a year ago.
Net profit for the quarter came in at Rs 6 bn, up 35.3% YoY against the net profit of Rs 4.5 bn a year back. Net profit excluding fair value gain related to the health insurance business, grew 33% YoY to Rs 20.6 bn.
As of 31 March 2023, the company had 38 million customers.
The company's net interest margin (NIM) rose 6.8% YoY in NBFC business.
The strong momentum across businesses led to a 40% YoY growth in the overall lending book (NBFC and HFC) to Rs 943.6 bn as on 31 March 2023.
The gross premium (Life and Health Insurance) also rose by 28% YoY to Rs 177.9 bn.
In the asset management company (AMC) business, about 75% of customers were onboarded digitally in the financial year 2023. In life insurance, 77% of renewals were done digitally in the financial year 2023. In the health insurance business, 87% of business was delivered by auto-underwriting.
The company launched INFINITE, the flagship start-up engagement program, to co-create solutions for enhancing customer journeys and increasing operational efficiency.
Aditya Birla Capital is among the best outperforming stocks, making it the top stocks under Rs 200 to add to your watchlist.
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!
Read the latest Market Commentary
Indian Share Market Update: Top Gainers and Losers
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Jasvant Thakkar
May 12, 2023Good Analysis.
Daywise equity ??????????? at ? glanse Good.