Sensex Today Ends 98 Points Higher, Nifty Above 18,300 | Bajaj Auto, Bharti Airtel Among Top Gainers | Adani Enterprises & Zomato Up 3%

Thu, 25 May Closing

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After opening the day flat, Indian share markets  swung between gains and losses and ended higher.

Benchmark indices today remained under pressure for most of the session but rallied in the final hour to end in the green. The negative sentiment in the first half was due to a slide in global equities after US debt ceiling talks dragged on without a deal.

At the closing bell, the BSE Sensex stood higher by 98 points (up 0.2%).

Meanwhile, the NSE Nifty closed up by 36 points (up 0.2%).

Bajaj Auto and Bharti Airtel were among the top gainers today.

Wipro and Tata Motors on the other hand, were among the top losers today.

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

The SGX Nifty was trading at 18,470, up by 149 points, at the time of writing.

Broader markets ended on a mixed note. The BSE Midcap index and BSE SmallCap ended 0.3 higher.

Sectoral indices ended on a mixed note with stocks in the realty sector and telecom sector witnessing most of the buying.

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

Shares of Britannia and Bajaj Auto hit their 52-week highs today.

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...

Asian stock markets ended on a mixed note. The Nikkei ended higher by 0.4%, while the Hang Seng was down 1.9%. The Shanghai Composite ended marginally lower.

The rupee is trading at 82.67 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 59,872 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading lower by 0.2% at Rs 70,971 per kg.

Speaking of stock markets, the stock price of Siemens was on a roll until about last week. However, the rally seems to have come to halt. The stock has been under pressure recently.

But what do the charts say? Is it a good time to consider the stock or is it best to avoid it? Chartist Brijesh Bhatia answers all these questions in the below video.

Vedanta's stake pledge

In news from the mining sector, Vedanta has pledged nearly all its holdings in Hindustan Zinc.

The company created a pledge of 139.4 bn shares or 3.3% of the total equity in favour of Axis Trustee Services.

According to BSE data, the total encumbered equity share capital stands at 64.51% from 64.92% earlier. The shares were pledged on 23 May 2023. The number of unencumbered shares stands at 17.2 bn.

The shares were pledged as collateral for loans taken by the company or the group.

This was the third instance in this financial year when the Mumbai-headquartered multinational mining company pledged its shares in Hindustan Zinc.

On 28 April 2023, Vedanta pledged 80.5 m or 1.91% shares to Axis Trustee Services. Meanwhile, on 17 April 2023, Vedanta pledged 103.2 m equity shares or 2.44% to Axis Trustees.

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.

Why Trident share price tanked 6% today?

Moving on to news from the textiles sector, the share price of Trident dropped 6% today on weak Q4 earnings.

For the March 2023 quarter, towel-to-paper maker's revenue declined 15.9% to Rs 15.7 bn from Rs 18.7 bn in the year-ago period.

Net profit for the quarter came in at Rs 1.3 bn compared to Rs 1.8 bn in the March 2022 quarter.

On the operating front, EBITDA declined 2% compared to Rs 2.7 bn in the December 2022 quarter.

EBITDA margins stood at 16.8% in the December 2022 quarter. The company, however, managed to control the EBITDA margin contraction to 17.1% in the quarter under review as against 18.1% a year ago as other expenses were down by 7%.

The company posted a 20% drop in its textile segment revenue at Rs 16.1 bn compared to Rs 20.1 bn a year ago. The yarn division's revenue declined the most by 34%.

The chemical segment revenue soared by 22% to Rs 3.4 bn compared to Rs 2.7 bn a year ago.

Trident Limited, the flagship company of the US$ 3 bn conglomerate Trident Group, is a vertically integrated textile (Yarn, Bath & Bed Linen) and Paper (Wheat Straw-based) manufacturer.

The company operates in three major business segments of textiles, paper, and chemicals. It has manufacturing facilities in Punjab and Madhya Pradesh.

Textile companies have grabbed market share from China in the export market. But Trident has fallen short of expectations. To know why, check out our editorial- Why Trident share price is falling.

Piramal Pharma shares zooms 13.5% today. Here's why...

Moving on to news from the pharma sector, Shares of Piramal Pharma shot up 13.5% as investors cheered for the drugmaker's strong earnings recovery in the March 2023 quarter.

The company posted its highest margin and revenue in the financial year 2023 during the March 2023 quarter.

Bouncing back from a net loss of Rs 900 m in the December 2022 quarter, the drugmaker reported a net profit of Rs 500 m in the quarter under review.

Revenue also grew 26% sequentially to Rs 21.6 bn from Rs 17.2 bn in the previous quarter. Strong growth in the Contract Development and Manufacturing Organisation (CDMO) and complex hospital generic segments offset the weakness in the Indian consumer healthcare business.

The EBITDA (earnings before interest, taxes, depreciation, and amortization) margin also expanded sharply to 17% in the March 2023 quarter.

The drug maker expects to go live with the expansion at its Grangemouth facility in Scotland in the second half of the financial year 2024, which will help strengthen its position in the antibody-drug conjugate segment.

In the financial year 2023, the company successfully cleared four inspections by the US Food and Drug Administration without receiving any observations.

It is an impressive feat considering the intense scrutiny by the US drug regulator has been an overhang for most pharma companies.

Check out Equitymaster's stock screener for screening India's top pharma stocks.

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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