As per provisional closing, the barometer index, S&P BSE Sensex rose 180.22 points or 0.34% to 52,973.84. The Nifty 50 index gained 60.15 points or 0.38% to 15,842.30.
The key equity barometers snapped its six days losing streak. The Nifty has fallen 5.40% in six days.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 1.51% while the S&P BSE Small-Cap index advanced 1.15%.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 2,236 shares rose while 1,159 shares fell. A total of 182 shares were unchanged.
Earnings Impact:
Eicher Motors gained 7.75% to Rs 2,624.90 after the company reported 16% jump in consolidated net profit to Rs 610.14 crore on a 8.6% increase in total revenue from operations to Rs 3,193.32 crore in Q4 FY22 over Q4 FY21. During the quarter, Royal Enfield recorded sales of 182,125 motorcycles, down by 10.4% from 203,343 motorcycles sold during the same period in FY 2020-21.
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Avenue Supermarts (DMart) rallied 10.4% to Rs 3571 after the company posted 3.13% increase in consolidated net profit to Rs 426.83 crore on 18.55% jump in revenue from operations to Rs 8,786.45 crore in Q4 FY22 over Q4 FY21. On a consolidated basis, profit before tax stood at Rs 608.89 crore in the fourth quarter, up by 12.02% from Rs 543.56 crore during the period under review.
Tech Mahindra fell 0.65% to Rs 1194.50. The IT major's consolidated net profit rose 10% to Rs 1,505.70 crore and net sales rose 5.8% to Rs 12,116.30 crore in Q4 FY22 over Q3 FY22. On a Consolidated basis, profit before tax (PBT) stood at Rs 1,873.30 crore in the fourth quarter, down by 0.7% from Rs 1886.40 crore in Q3 FY22. The Q4 result was declared after trading hours on Friday, 13 May 2022.
Amber Enterprises India tumbled 20% to Rs 2701.20 after the company reported 24.2% decline in consolidated net profit to Rs 57.22 crore in Q4 FY22 as against Rs 75.46 crore in Q4 FY21. Net sales stood at Rs 1,936.69 crore for the quarter ended 31 March 2022 as against Rs 1,598.43 crore during the same period in the previous year, registering a growth of 21.2%.
Shares of Bharat Forge rallied 5.38% to Rs 663 after the company reported a 9.3% rise in consolidated net profit to Rs 231.85 crore on a 71.5% increase in net sales to Rs 3,573.09 crore in Q4 FY22 over Q4 FY21. Consolidated profit before tax grew 25% to Rs 336.6 crore in Q4 FY22 as against Rs 269.26 crore in Q4 FY21.
Triveni Engineering & Industries was down 4.47% to Rs 253.50. The company reported 28.4% rise in consolidated net profit to Rs 109.17 crore on a 7.8% fall in net revenue from operations to Rs 1,070.03 crore in Q4 FY22 over Q4 FY21. EBITDA improved by 1.7% to Rs 177.66 crore in Q4 FY22 from Rs 174.72 crore in Q4 FY21. EBITDA margin in Q4 FY22 was 17% as against 15% in Q4 FY21.
REC added 1.75% to Rs 116.05 after the company recorded 10.8% rise in consolidated net profit to Rs 2,301.33 crore on a 4.7% increase in total income to Rs 9,653.27 crore in Q4 FY22 over Q4 FY21. Operating profit increased by 5.8% YoY to Rs 3,624.66 crore in Q4 FY22. Provisions and write offs aggregated to Rs 761.86 crore (up 5.9% YoY) in the fourth quarter.
Bank of Baroda advanced 5.74% to Rs 100.40 after the bank reported net profit of Rs 1778.77 crore in Q4 FY22 as against a net loss of Rs 1046.50 crore in Q4 FY21. Total income declined 3.7% to Rs 20,695.90 crore in Q4 FY22 from Rs 21501.94 crore in Q4 FY21. The bank's profit before tax (PBT) fell 29.1% year on year to Rs 1,898.76 crore in the quarter ended 31 March 2022.
Balkrishna Industries advanced 8.11% to Rs 2041 after the company reported 36% jump in net sales to Rs 2,373.87 crore in Q4 FY22 from Rs 1,745.89 crore in Q4 FY21. Sales volumes were at 77,119 million tonnes (MT) in quarter ended March 2022, up by 13% from 68,003 MT recorded in the quarter ended March 2021.
Global Markets:
European stocks mostly declined while Asian markets ended mixed on Monday as global markets struggled to gain positive momentum and recover from last week's volatility.
Markets in Singapore, Malaysia, Indonesia, and Thailand are closed for a holiday on Monday.
Investors are also keeping a close eye on geopolitical developments as Finland and Sweden moved closer to applying for membership in NATO, ending years of neutrality as Russia's invasion of Ukraine forced the two Nordic nations to reassess their positions.
The entry of Sweden and Finland would significantly extend the alliance's border with Russia, a move that will annoy Moscow which has consistently warned the pair of potential consequences.
The war in Ukraine is severely curtailing the European Union's economic rebound from the COVID-19 pandemic with this year's growth forecast sharply revised down, the European Commission warned on Monday.
It lowered its economic growth forecast for the eurozone in 2022 by 1.3 points to 2.7% and increased its inflation forecast by 3.5 points to 6.1%. Inflation for the whole of the EU is meanwhile expected to reach 6.8% this year.
"There is no doubt that the EU economy is going through a difficult period due to Russia's war against Ukraine, and we have revised our forecast downwards accordingly," European Commission Vice-President Valdis Dombrovskis reportedly said.
"The most important negative factor is soaring energy prices, which are driving inflation to record levels and weighing on European businesses and households," he reportedly added.
Meanwhile, China's April retail sales plunged 11.1% on the year, while industrial output fell 2.9%, pointing to the deep damage COVID lockdowns were doing to the world's second-largest economy.
US stock market witnessed a relief rally on Friday. The Dow rose 466.36 points, or 1.47%, while the S&P 500 climbed 2.39%. The Nasdaq Composite jumped 3.82% and posted its strongest one-day gain since November 2020. Still, all three averages posted losing weeks.
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