As per the provisional closing data, the barometer index, the S&P BSE Sensex, rose 32.1 points or 0.06% at 49,765.65. The Nifty 50 index added 30.35 points or 0.2% at 14,894.40.
Trading was volatile as traders roll over positions in F&O segment from the near month April series to May series. The April 2021 F&O contracts will expire today.
The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index fell 0.13% while the S&P BSE Small-Cap index added 0.13%.
Sellers outnumbered buyers. On the BSE, 1,413 shares rose and 1,527 shares fell. A total of 182 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 14,96,38,312 with 31,51,142 deaths. India reported 30,84,814 active cases of COVID-19 infection and 2,04,832 deaths while 1,50,86,878 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
On Wednesday, 14 states and UTs recorded their highest single-day case count on Wednesday, with India reporting nearly 3.8 lakh cases in last 24 hours and over 3,000 deaths.
Politics:
The eighth and final phase of voting in Bengal is underway today. All eyes will be glued to the exit polls for four states and one Union Territory. As per the Election Commission, exit polls for West Bengal, Assam, Tamil Nadu, Kerala and Puducherry can be published at 7.30 pm today (29 April, Thursday) an hour after polls close. Votes will be counted on 2 May 2021.
Results Today:
Titan Company (down 0.16%), Coromandel International (up 1.64%), Exide Industries (up 0.96%), IndiaMart InterMesh (up 0.77%), L&T Finance (down 2.07%), Motilal Oswal (up 3.67%), Shriram Transport Finance (up 0.88%), Persistent Systems (up 2.24%) and Zensar Technologies (down 0.48%) will announce quarterly results today.
Earnings Impact:
Hindustan Unilever (HUL) fell 0.25%. The FMCG major's standalone net profit surged 41.07% to Rs 2,143 crore on 34.46% jump in revenue from operations to Rs 11,947 crore in Q4 FY21 over Q4 FY20. The growth in the quarter was competitive and profitable with domestic consumer growth at 21% Y-o-Y (year-on-year) with underlying volume growth of 16%. Health, hygiene and nutrition forming 80% of business grew in double-digits for the third consecutive quarter, while discretionary and out-of-home categories improved sequentially. Standalone EBITDA margin stood at 25% Y-o-Y, remaining healthy.
SIS fell 1.05%. The company's consolidated net profit stood at Rs 102.23 crore in Q4 FY21 as against net loss of Rs 3.91 crore in Q4 FY20. On a consolidated basis, net sales jumped 10.7% to Rs 2,445.21 crore in Q4 FY21 over Q4 FY20. EBITDA dropped 10.9% to Rs 123.30 crore in Q4 FY21 from Rs 138.50 crore in Q4 FY20. EBITDA margin stood at 5% in Q4 FY21 as against 6.3% in Q4 FY20. Meanwhile, the company generated the highest ever cash flows with total operating cash flow generation of Rs 640 crore with cash conversion at OCF/ EBITDA of 123% for FY21 and 89% for Q4 FY21. This has been on the back of strong collections, lower working capital needs and stable business.
UTI Asset Management Company (UTI AMC) advanced 2.64% after the company reported a consolidated net profit of Rs 133.92 crore in Q4 FY21 compared with net loss of Rs 25.48 crore in Q4 FY20. Total income during the quarter increased 100.7% to Rs 292.98 crore from Rs 145.98 crore recorded in the corresponding quarter last year. Operating expenses declined by 12% to Rs 141 crore in Q4 FY21 over Q4 FY20. The asset manager reported a pre-tax profit of Rs 151.62 crore in Q4 March 2021 as against a pre-tax loss of Rs 14.97 crore in Q4 March 2020. UTI MF March 2021 Quarterly Average Assets Under Management (QAAUM) stood at Rs 1,82,853 crore. For the quarter ended 31 March 2021, equity assets (active + passive) contributed 51% to UTI MF's total average AUM.
Biocon rose 0.81% after the company reported 105% jump in consolidated net profit to Rs 254 crore in Q4 FY21 from Rs 123 crore in Q4 FY20. Revenue from operations rose 18% year-on-year (YoY) to Rs 1,839 crore during the quarter. On the segment front, revenue from generics was Rs 578 crore (up 3% YoY), revenue from biosimilars was Rs 664 crore (up 53% YoY) and revenue from research services was Rs 659 crore (up 8% YoY) in the fourth quarter. EBITDA increased by 68% to Rs 641 crore in Q4 FY21 as against Rs 382 crore in Q4 FY20.
Carborundum Universal jumped 4.93% after the company's consolidated net profit rose 2.4% to Rs 96.19 crore on a 28% surge in net sales to Rs 750.26 crore in Q4 FY21 over Q4 FY20. Consolidated sales were driven by steady performance across business segments. On a consolidated basis, segmental profitability for the year recorded growth across all the business segments.
Tata Communications fell 3.75%. The company reported a consolidated net profit of Rs 299.20 crore in Q4 FY21 compared with net loss of Rs 275.02 crore in Q4 FY20. Net sales declined 7.4% year-on-year (YoY) to Rs 4,073.25 crore during the quarter, which was largely due to degrowth in voice business and data business. Data revenue in the fourth quarter was at Rs 3,515 crore, down by 2.2% YoY. This reduction is primarily due to longer deal conversion and execution cycle due to COVID-19 and moderation of UCC (unsolicited commercial communication) traffic. EBITDA increased by 16.8% to Rs 1,015 crore while EBITDA margin improved by 520 bps to 24.9% in Q4 FY21 over Q4 FY20.
Bombay Dyeing & Manufacturing Company fell 3.1% after the company reported consolidated net loss of Rs 166.74 crore in Q4 FY21 as against net profit of Rs 48.57 crore in Q4 FY20. Consolidated net sales jumped 59.4% to Rs 498.95 crore in Q4 FY21 as against 313.10 crore in Q4 FY20. The company reported pre-tax loss of Rs 103.44 crore in Q4 FY21 compared with pre-tax loss of Rs 171.44 crore in Q4 FY20.
GHCL fell 0.98%. The company's consolidated net profit jumped 31% to Rs 111.14 crore on 10.2% rise in net sales to Rs 826.33 crore in Q4 FY21 over Q4 FY20. On a standalone basis, net profit for the quarter stood at Rs 104 crore as against Rs 80 crore in the corresponding quarter last fiscal. Revenue for quarter stood at Rs 821 crore compared with Rs 734 crore in the corresponding quarter last year. EBITDA for the quarter stood at Rs 195 crore as against Rs 161 crore in the corresponding quarter last year.
Sundaram-Clayton declined 1.08%. The firm reported a consolidated net profit of Rs 167.16 crore in Q4 FY21, steeply higher than net profit of Rs 9.21 crore in Q4 FY20. Net sales increased by 48.3% year-on-year (Y-o-Y) to Rs 6,439.57 crore during the quarter. Profit before tax was at Rs 446.71 crore in Q4 March 2021, up 442.10% compared with Rs 82.40 crore in Q4 March 2020.
Rain Industries gained 2.74% to Rs 184 after the company's consolidated net profit jumped 103% to Rs 231.13 crore on 3.8% rise in revenue from operations to Rs 3007.73 crore in Q1 March 2021 over Q1 March 2020. On the segmental front, revenue from carbon was Rs 2140.16 crore (up 3.7% YoY), revenue from advanced materials was Rs 716.66 crore (down 10.4% YoY) and revenue from cement was Rs 334.94 crore (up 37.2% YoY) in the first quarter. Profit before tax in Q1 March 2021 stood at Rs 314.21 crore, up 94.7% from Rs 161.42 crore in Q1 March 2020.
Global Markets:
Shares in Europe and Asia advanced on Thursday as investors reacted to the U.S. Federal Reserve's decision to keep its easy money policy in place.
Wall Street ended lower on Wednesday after the U.S. Federal Reserve held interest rates and its monthly bond-buying program steady and gave no sign it was ready to reduce its support for the recovery.
The Fed left its benchmark short-term rate near zero, where it's been since the pandemic erupted nearly a year ago, to help keep loan rates down to encourage borrowing and spending. It also said in a statement after its latest policy meeting that it would keep buying $120 billion in bonds each month to try to keep longer-term borrowing rates low.
In a statement Wednesday, the Fed said the economy and job market have strengthened, and while inflation has risen, Fed policymakers ascribed the increase to temporary factors.
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