March Quarter Results, Oil Prices, and Top Stocks in Action Today

Wed, 15 May Pre-Open

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On Tuesday, Indian share markets snapped their 9-day losing streak and ended their trading session on a positive note.

The BSE Sensex closed higher by 228 points to end the day at 37,319. Sun Pharma and Bharti Airtel were among the top gainers.

While the broader NSE Nifty ended up by 74 points to end at 11,222.

Among BSE sectoral indices, telecom stocks gained the most by 2.8%, followed by energy stocks and capital goods stocks.

Top Stocks in Action Today

Tata Motors share price will be in focus today as the company has entered into partnership with Aaron Travels, to deploy Tigor Electric Vehicles (EVs) in Mumbai. Aaron Travels will begin its e-mobility journey to service clients while enhancing sustainability.

Tata Power share price will be in focus today as the company has signed a Memorandum of Understanding (MoU) with Mahanagar Gas to explore synergies of operation in integrated customer services, foray into emerging e-mobility business and other value-added services of common interests.

Glenmark pharma share price will also be in focus as its subsidiary - Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Esomeprazole Magnesium Delayed-Release Capsules USP, 20 mg and 40 mg.

Market participants will also track Lupin share price, Torrent power share price and Aarti Drugs share price as these companies are set to announce their Q4FY19 results later today.

Results Corner

Just Dial share price has reported a rise of 60.6% in its net profit at Rs 625.5 million for the quarter ended March 31, 2019 as compared to Rs 389.6 million for the same quarter in the previous year.

SRF share price has reported a rise of 56.2% in its net profit at Rs 1653 million for the quarter ended March 31, 2019 as compared to Rs 1058.6 million for the same quarter in the previous year.

Inox Leisure share price has reported a fall of 16.7% in its net profit at Rs 480.7 million for the quarter under review as compared to Rs 577.1 million for the same quarter in the previous year. However, total income of the company increased by 46.8% at Rs 4840.8 million for Q4FY19.

Cera Sanitaryware share price has reported a rise of 24.3% in its net profit at Rs 380.4 million for the quarter ended March 31, 2019 as compared to Rs 306.1 million for the same quarter in the previous year.

CPI Inflation Hits 6-Month High

India's retail inflation based on Consumer price index (CPI) inched up to a 6-month high of 2.92% in April 2019 due to a spike in food prices, including vegetables, meat, fish and eggs.

The data showed that inflation was at 2.86% in March 2019 and 4.58% in April 2018. The rate of price rise in April is the highest since October 2018 when the rate was 3.38%.

Prices of vegetables rose by 2.87% against a decrease in March. However, fruit prices declined in April compared to the year-ago month.

In other news, India's Wholesale price index (WPI) inflation eased to 3.07% in the month of April 2019, as compared to 3.18% in March and 3.62% during the corresponding month of the previous year.

Jet Airways Saga

As per an article, Etihad Airways said it has offered to acquire a minority stake in the troubled cash-strapped Indian airline.

The Abu Dhabi-based airline said, Etihad has confirmed its interest to re-invest in a minority stake in Jet Airways, subject to conditions. Currently, Etihad hold 24% stake in the Indian airline.

Etihad Airways is the only shortlisted bidder to have submitted its bid. Other shortlisted bidders included TPG Capital, Indigo Partners and National Investment and Infrastructure Fund (NIIF).

Last week, State bank of India's chairman Rajnish Kumar said that two unsolicited bids were received for Jet Airways. In addition, Adi Group, a UK-based investment firm said it has already met officials of Etihad for a partnership in its bid for Jet Airways.

How this all pans out remains to be seen. Meanwhile, we will keep you updated from all the developments from this space.

US-China Trade Dispute

US President Donald Trump on Tuesday defended his trade war with China as tensions escalated this week, saying it was a model for US negotiations with other countries.

The Chinese government said, China and the US have agreed to keep talking about their trade war as US President said he thought recent discussions in Beijing would be successful.

The US Trade representative's office said it planned to hold a public hearing next month on the possibility of imposing duties of up to 25% on a further US$ 300 billion worth of imports from China.

Rising Oil Prices

Oil prices jumped on Tuesday after the world's top oil exporter Saudi Arabia said explosive-laden drones had attacked two pumping stations belonging to state oil company Aramco.

The Saudi state news agency quoted Energy Minister Khalid al-Falih as saying that Aramco had halted pumping on the East-West pipeline until the damage was evaluated, but that production and exports were continuing without disruptions.

Earlier, Saudi Arabia said that two of its oil tankers were among those attacked off the coast of the United Arab Emirates on Sunday.

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

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Read the latest Market Commentary

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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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Indian Share Market Update: Top Gainers and Losers