F&O expiry: Sensex up 32 pts, ends April series below 50,000; metals shine

Among key sectoral indices, robust global demand lifted the Nifty Metal index to record peak of 4,869 on the NSE today

3:32 PM

CLOSING BELL

Buying in metal space lent support to the indices to end flat, albeit in the green for fourth straight day. The 30-share index advanced 32 points to close at 49,766 levels while the broader 50-share index concluded the day at 14,889 levels, up 24 points.

 

3:27 PM

Mukesh Ambani doesn't have much need for a 1% stake in Saudi Aramco

Prince Mohammed didn’t disclose which company might make the investment, but you don’t have to be a Jane Austen protagonist to work out the most likely partner. Reliance Industries Ltd., owner of the world’s biggest oil refinery, has been dancing the quadrille with Saudi Aramco for nearly two years. At current prices, 1% of Aramco would be worth about $19 billion — not far off the $15 billion price tag put on 20% of Reliance’s energy division, at the time the Saudi company first took an interest in buying a stake in 2019. READ MORE

3:18 PM

Bajaj Auto Q4 profit up 2% YoY to Rs 1,332 cr; Ebitda margin slips 90 bps

Two-wheeler maker Bajaj Auto on Thursday reported a 1.6 per cent year-on-year (YoY) growth in standalone net profit at Rs 1,332.07 crore for March quarter of FY21 (Q4FY21). The same was Rs 1,310.3 crore in the year-ago period. On a quarterly basis, the profit tumbled 14.4 per cent from Rs 1,556.3 crore. The revenue of the firm, however, clocked a 26.11 per cent improvement over previous year’s revenue of Rs 6,815.9 crore and stood at Rs 8,596.10 crore. Sequentially, it was down 3.5 per cent from Rs 8,909.9 crore. READ MORE

3:17 PM

March quarter results :: Bank of Maharashtra

> Q4 standalone net profit at Rs 165 crore VS 57.6 crore

3:09 PM

March quarter results :: Bajaj Auto Q4 PAT at Rs 1,332.07 cr vs Rs 1,310.29 cr YoY

> Revenue at Rs 8,596 cr vs Rs 6,816 cr YoY

 

> EBITDA at Rs 1,558 cr vs Rs 1,293 cr YoY

 

> Q4 EBITDA margin at 18.1% vs 19% in same quarter last year

 

> The Board of Directors recommend a dividend of Rs 140 per equity share subject to approval of shareholders

2:55 PM

March Quarter Results :: Laurus Labs

>> Revenue from Operations came at Rs 1,411.9 Cr (up 9.6% QoQ, 68.3% YoY) 

>> EBIDTA came at Rs 450.3 Cr (up 5.6% QoQ, 134.8% YoY) 

>> EBITDA Margin came at 31.9% vs 33.1% (QoQ), 22.9% (YoY)

>> Adj. PAT came at Rs. 296.9 Cr vs Rs 272.9 Cr (QoQ) and Rs 110.2 Cr (YoY)

2:47 PM

India VIX rises 3% ahead of April F&O expiry

> VIX is an indicator of market volatility

2:37 PM

Petrol price hike on cards post election outcome? Here's how to trade OMCs

Now, petrol and diesel prices may increase soon by early next month with oil companies looking to raise the retail price of the two auto fuels between Rs 2 and Rs 3 per litre in phases and make up for the losses they incurred by keeping the prices at artificially low levels in the run up to the local elections.
 

Petrol and diesel prices have not been raised since February 27, but actually the prices of auto fuels have fallen on four occasions in March and April, bringing petrol prices down by 77 paisa per litre and diesel by 74 paisa per litre in the national capital. READ MORE

2:22 PM

Sector Watch :: Nifty Metal index shines, jumps nearly 4%

2:10 PM

HDFC twins among top Sensex drags in afternoon trade

2:07 PM

Most Indian companies protected against weakening rupee: Moody's

Most companies have currency protections, with nearly half of Moody's rated portfolio benefiting from natural hedges. April 27, 2021, the Indian rupee closed around 74.66 against the US dollar, or about three per cent lower than levels in mid-March.

 

Moody's released a report that looks at 22 rated India-based companies across various sectors such as IT service-related, commodities, TMT and automotive. READ MORE

2:00 PM

India's oil refiners eye more exports as Covid-19 outbreak hits demand

State-owned Indian Oil Corp. and Bharat Petroleum Corp. are weighing the option of raising oil-product exports against cutting run rates, according to company officials who asked not to be identified. That’s after record infections in India prompted curfews that kept people off the streets and hurt consumption. Outside India, major economies such as the U.S. and China saw a surge in mobility that has lifted the use of gasoline and diesel. READ MORE

1:51 PM

Air India, BPCL sale may be delayed but will get completed by FY22

The timeline for disinvestment of Air India and Bharat Petroleum Corporation (BPCL) may be pushed by two to three months due to impact of the second Covid-19 wave.

 

However, the government is confident of wrapping up the sale of the two companies by FY22 and meeting the disinvestment target of Rs 1.75 trillion. This will be achieved by sale of government stake in core and non-core public sector undertakings (PSUs). READ MORE

1:41 PM

HUL Q4 PAT jumps 41% YoY to Rs 2,143 crore, beats Street estimates

The revenue during the quarter under review jumped 34.63 per cent YoY to Rs 12,132 crore in comparison with Rs 9,011 crore in the same period last year. It climbed 2.27 per cent quarter-on-quarter (QoQ). READ MORE

1:38 PM

Tata Motors in focus

>> TaMo to reportedly shut all offices, plants between May 1 and 3