Stock Market Highlights, April 22: Sensex sprints 560 pts, Nifty tops 22,300 in broad relief rally

Stock market highlights on April 22: Among sectors, the Nifty PSU Bank index rallied 3.3 per cent, the Nifty Realty 1.12 per cent, and the Nifty Pharma index 1.5 per cent

SI Reporter New Delhi

10:30 AM

March Quarter Results :: Persistent Systems net profit comes at Rs 315 crore

>> PAT was Rs 286 crore QoQ

>> REvenue came at Rs 2590 crore vs Rs 2500 crore

>> Ebit at Rs 374 crore vs Rs 363 crore QoQ

>> Ebit margin at 14.45% vs 14.53% QoQ

>> Co announces dividend of Rs 10 per share

10:17 AM

Shares of Gujarat State Petronet tank 20% on PNGRB's revised tariff order

Shares of Gujarat State Petronet (GSPL) locked in a 20 per cent lower circuit at Rs 302.30 on the BSE on Monday at 09:23 AM. This came after the Petroleum and Natural Gas Regulatory Board (PNGRB) issued a tariff order for GSPL’s HP gas network. The revised tariff will be applicable from May 1, 2024, PNGRB said in an order dated April 20, 2024. READ MORE

10:01 AM

HUL to MRF and P&G: Here are top stocks in which Amit Shah has invested

The top five holdings include Hindustan Unilever (Rs 1.4 crore), MRF (Rs 1.3 crore), Colgate-Palmolive (India) (Rs 1.1 crore) Procter & Gamble Hygiene And Health Care (Rs 0.96 crore) and ABB India (Rs 0.7 crore). These top five holdings account for Rs 5.4 crore, or nearly a third of the total listed portfolio worth Rs 17.4 crore. READ MORE

9:45 AM

Comment :: 'Market is likely to be weighed by high US bond yields'

The biggest positive for the market in the near-term is that the feared escalation in the Israel-Iran tension is unlikely to happen. Israel didn't officially confirm its strike in Iran and Iran downplayed the Israeli strike by ignoring it. The takeaway is that both sides don't want an escalation of tensions. Decline in Brent crude from $90 to $87 is a confirmation of this expected deescalation.

However, the market is likely to be weighed by the high US bond yields (the 10-year yield has spiked to 4.65%) which can trigger further selling by FIIs. Since largecaps constitute the lion’s share of the AUM of FIIs, the pressure will be on largecaps despite their relatively fair valuations.

Views by: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

9:36 AM

Laurus Labs gains 2% on zero observations from USFDA

Laurus Labs said that its API Manufacturing facility situated in Parawada, Anakapalli (Vishakapatnam), Andhra Pradesh has cleared the US Food and Drug Administration (USFDA) inspection with zero observations.

9:34 AM

Ireda surges nearly 8% post Q4 results

State-owned renewable sector non-banking finance company reported a 33% year-on-year jump in net profit at Rs 337.4 crore for the fourth quarter that ended March 31, 2024.

Net interest income increased 35.1% to Rs 481.4 crore

9:32 AM

GSPL freezes at 20% lower circuit on tariff review by PNGRB

PNGRB has cut tariffs for the company’s key HP pipeline network by 47%

9:28 AM

Jio Financial gains 2% on 6% QoQ rise in Q4 net profit

Jio Financial Services Ltd reported a consolidated net profit of Rs 310.63 crore in Q4FY24, up 5.72 per cent sequentially. Consolidated revenue from operations was flat at Rs 418 crore.

9:27 AM

Wipro rises 1% despite tepid Q4 results

The IT company on Friday, post market hours, reported a net profit of Rs 2,835 crore for Q4FY24, down 7.9 per cent Y-o-Y/up 5 per cent Q-o-Q. Revenue for the quarter was Rs 22,208.3 crore, 4.2 per cent less on a Y-o-Y basis.

9:25 AM

HDFC Bank slips in red amid flattish Q4 numbers on QoQ basis

The private sector lender reported 37.1 per cent growth in net profit for the quarter ended 31 March 2024 to Rs 16,512 crore. Net interest income, meanwhile, grew by 24.5 per cent to Rs 29,080 crore while core net interest margin was at 3.44 per cent on total assets, and 3.63 per cent based on interest earning assets.