SGX Nifty Down 42 Points | Tata Motors & Vedanta Q4 Results | Novartis Declares Special Dividend | Top Buzzing Stocks Today

Mon, 15 May Pre-Open

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On Friday last week, Indian share markets trimmed all the losses as the session progressed and ended marginally higher.

Benchmark indices staged a smart recovery in the second half even as negative sentiments kept hovering amidst signs of the economy slowing down, while quarterly earnings played their part in nudging the market.

At the closing bell on Friday, the BSE Sensex stood higher by 123 points (up 0.2%).

Meanwhile, the NSE Nifty closed up by 18 points.

HUL and M&M were among the top gainers.

Hindalco and NTPC, on the other hand, were among the top losers.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

Sectoral indices ended on a mixed note with stocks in the auto sector, and banking sector witnessing most of the buying.

On the other hand, stocks from the metal sector and power sector witnessed selling pressure.

Shares of Tata Motors and ONGC hit their 52-week highs on Friday.

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 Friday.

At 8:00 AM today, the SGX Nifty was trading down by 42 points or 0.2% lower at 18,280 levels.

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

Speaking of stock markets, Shankar Sharma is one of India's well-known investors. His interviews are filled with colourful metaphors, witty one-liners, and smart observations.

In one of his interviews, he gives a very interesting analogy. In this analogy he called his style of investing as investing in 4 AM stocks.

In the interview, he further added in his own inimitable style that his 4 AM investing principles can get an investor from a 'slum to a penthouse.'

So, does Mr Sharma have a strategy that he thinks will put us in a penthouse in a few years and not end up wiping away our hard-earned money.

Rahul Shah, Co-head of Research at Equitymaster, answers these question in the below video:

Top Buzzing Stocks Today

HAL will be among the top buzzing stocks today.

Hindustan Aeronautics (HAL) on Friday reported an 8% YoY jump in revenue to Rs 124.9 billion (bn) for the March 2023 quarter.

Net profit for the quarter came in at Rs 28.3 bn, down 9% YoY from Rs 31.1 bn clocked in the same quarter last year.

Intellect Design will also be in focus today.

For the financial year 2023, the company reported a 21% YoY rise in its revenue to Rs 224.5 bn, against Rs 18.5 bn reported in the corresponding period last year.

This is the first time the fintech company has crossed the Rs 2,000-crore revenue mark in a financial year.

Tata Motors Q4 Results

Tata Motors on 12 May 2023 swung to a consolidated net profit for the quarter ended March at Rs 54.1 billion (bn), against a net loss of Rs 10.3 bn in the same quarter last year.

Revenue from operations came in at Rs 1.1 trillion (tn), up 35.1% YoY from Rs 784.3 bn in the corresponding quarter last year.

Tata Motors ended the year on a strong note, with all automotive verticals delivering robust performances leading to multiple all-time high achievements.

For Jaguar and Land Rover, Tata Motors' UK-based luxury car unit, revenue in Q4 rose 49% YoY as chip supply improved further.

The company's order book of 2,00,000 units remains strong despite increased retail sales. Range Rover, Range Rover Sport and Defender represent 76% of the book.

The board at the Tata Group automaker recommended a final dividend of Rs 2 per ordinary share and Rs 2.1 per share.

Going forward, Tata Motors expects the industry growth to moderate due to a strong base effect and other macro factors such as rising interest rates, inflation, and the cost impact from progressive regulatory norms.

The further expects electrification trend to strengthen.

Tata Motors remains in the fast lane when it comes to electric vehicles (EVs). The Tata group is leading India's EV revolution, and Tata Motors has remained at the forefront.

Also, the electric vehicle (EV) megatrend is a once-in-a-century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

Novartis India announces special dividend

Novartis India on Friday announced a final dividend and special dividend through an exchange filing.

The board has recommended a final dividend of Rs 10 per share and a one-time special dividend of Rs 37.5 per share.

The total dividend amounts to Rs 47.5 per equity share of the face value of Rs 5 each.

This was as the company reported a profit in the fourth quarter compared to a loss a year earlier.

The Pharmaceutical giant reported revenue from operations of Rs 761.3 m during the quarter ended March 2023, down by 22.57% YoY from Rs 983.2 m recorded during the quarter ended March 2022.

Novartis India is an India-based company which is primarily engaged in the business of trading drugs and pharmaceuticals.

For a fundamental analysis of Novartis India, check out Equitymaster's Indian stock screener, has a separate screen for top pharma companies in India.

Vedanta Q4 net profit plunges 56%

Mining major Vedanta on Friday reported a 5.4% YoY decline in revenue to Rs 372.3 bn for the March 2023 quarter.

Net profit for the quarter declined 56.3% YoY to Rs 26.3 bn in the March 2023 quarter against Rs 60.3 bn in the same quarter last year.

On the operating front, its EBITDA decreased 33.4% YoY to Rs 87.5 bn.

Coming to segmental performance, revenue from zinc, lead, and silver fell 4% to Rs 82.5%. Aluminium revenue was down 19.8% at Rs 123.9 bn, while copper and iron ore segments saw an uptick.

For the financial year 2023, the company has estimated a capex of US$ 1.7 bn, higher than US$ 1.2 bn this year.

The company's board of directors approved fourth and fifth interim dividends of Rs 12.5 and Rs 20.5 per equity share, which is 1,250% and 2,050% on the face value of Rs 1 per equity share respectively, for financial 2022-23.

While miner Vedanta has been hit by a fall in commodity prices, Vedanta Resources will be bolstered by its associate firms' investment in areas like semiconductors, display glass, renewables, optical fibre, and transmission.

By forming a recent joint venture with Foxconn to manufacture semiconductor chips, the company has made its space among India's top 5 semiconductor stocks.

Also, as China tries to move up the technology supply chain with advanced chips, the US is getting wary, which makes semiconductors the top Indian megatrends.

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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