Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

• The local currency strengthened by 3 paise to close at 83.34 against the U.S. Dollar.

• It closed at 83.37 a dollar on Monday.

Source: Bloomberg

Benchmark equity indices ended little higher as shares of Bharti Airtel Ltd. led the gains but the upside was limited due to losses in those of Reliance Industries.

The Nifty ended at 22,368.00, up 31.60 points or 0.14% while the Sensex closed at 73,738.45, up 89.83 points or 0.12%.

The Index found resistance at the bearish gap zone of 22,430-22,500, said Aditya Gaggar, director of Progressive Shares. "Our view remains the same i.e. need to fill the mentioned gap zone to extend its uptrend while a level of 22,190 (50 DMA) will continue to act as support."

The India NSE Volatility Index ended 19.72% lower at 10.20 on Tuesday. "The suddenness of VIX’s fall today, especially when Nifty barely rose above 0.5%, needs to be factored in when acting on the VIX’s signal," said Anand James, Chief Market Strategist, Geojit Financial Services.

He added VIX is calculated on the basis of bid ask quotes of near as well as next month Nifty option contracts, and contracts expiring from 26th April onwards would be having a lot size of 25, half of what is in play now, which could have a role in bid asks getting tighter.

Shares of Bharti Airtel Ltd., Grasim Industries Ltd., ITC Ltd., State Bank Of India Ltd., and Maruti Suzuki Ltd. contributed the most to the gains.

While those of Reliance Industries Ltd., Sun Pharmaceutical Industries Ltd., HDFC Bank Ltd., Mahindra & Mahindra Ltd., and Bajaj Finance Ltd. capped the upside.

Sectoral indices were mixed at close with Nifty Realty rising the most by nearly 3%. Nifty Pharma fell 1%.

Broader markets outperformed benchmarks. The S&P BSE Midcap index ended 0.52% higher, and the S&P BSE Smallcap index settled 1.05% up.

On BSE, 16 sectors out of 20 advanced, and four declined. The S&P BSE Telecommunication index was the top gainer, and the S&P BSE Energy index was the top loser.

Market breadth was skewed in favour of the buyers. Around 2,347 stocks rise, 1,453 stocks declined, and 126 stock remained unchanged on BSE.

The scrip rose as much as 1.87% to Rs 13,024.50 apiece, the highest level. It has risen 26.3% on a year-to-date basis and 51.5% in the last twelve months.

Gets deal to optimise production processes

Source: Exchange Filing

• Secured orders worth over Rs 23,500 crore in FY24 on a consolidated level, up over 250% YoY

• Commercial real estate inventory sale at World Trade Centre, New Delhi, at over Rs 6,480 crore

Source: Exchange filing

Wholly-owned China-based arm gets new drug application of Desidustat accepted in China

Desidustat is used for treating anaemia in chronic kidney disease patients

Source: Exchange Filing

India's benchmark indices were trading higher through midday on Tuesday in tandem with the Asian market rally fueled by an improved global risk appetite.

At 1 p.m., the NSE Nifty 50 was trading 68.85 points or 0.3% higher at 22,405.25, and the S&P BSE Sensex gained 221.36 points or 0.3% to trade at 73,869.98.

The Nifty 50 hit an intraday high of 22,447.55 and the Sensex touched a high of 74,059.89 so far on Tuesday.

The overall positive momentum is likely to push the Nifty 50 higher to fill the bearish gap zone of 22,430-22,500 while on the lower side, a level of 22,180 will act as support, Aditya Gaggar, director, Progressive Shares said.

"Support for Bank Nifty is observed between 47,575 and 47,675, while resistance is seen between 48,150 and 48,250," Jain said.

Bharti Airtel Ltd., ITC Ltd., HCL Technologies Ltd., Grasim Industries Ltd., and State Bank India supported the benchmark index.

Reliance Industries Ltd., Sun Pharmaceutical Industries Ltd., Larsen & Toubro Ltd., and HDFC Bank Ltd. weighed on the index.

On NSE, nine sectors advanced and three declined. The NSE Nifty Realty index was the top gainer, while NSE Nifty Oil & Gas index was the top loser.

Broader markets rose. The S&P BSE Midcap index was 0.37% higher, and the S&P BSE Smallcap was 0.86% up.

On BSE, 18 sectors advanced and two declined. The S&P BSE Telecommunication index rose over 2% to become the top gainer. The S&P BSE Energy was the top loser.

Market breadth was skewed in favour of the buyers. Around 2,370 stocks advanced, 1,227 stocks declined, and 141 stocks remained unchanged on BSE.

• Personnel from the direct marketing vertical involved

• One area manager, two business executives are likely under arrest

• Aadhaar and voter-id documents were being forged for last 2-3 years

Source: People in the know

• FIR has been filed with Mizoram police in Aizawl around March 20

• FIR filed based on internal audit

• Case likely transferred to CID department in Mizoram police

Source: People in the know

The scrip rose as much as 1.52% at Rs 4,485, its lifetime high. It has risen 9.06% on the year to date basis and 36.9% in the last twelve months.

In pact for solar rooftop financing

Source: Exchange Filing

Shares of Vodafone Idea Ltd. jumped more than 14% on Tuesday to the highest in over a month as its board approved the issue price for its Rs 18,000-crore follow-on public offer.

The telecom operator set the offer price for the FPO at Rs 11 per share. Offer price for anchor investors set at Rs 11 per share, according to an exchange filing.

On the NSE, Vi's stock rose as much as 14.34% during the day to Rs 14.75 apiece, the highest since March 5. It was trading 13.57% higher at Rs 14.65 apiece, compared to a 0.34% advance in the benchmark Nifty 50 at 12:32 p.m.

The share price has risen 130.71% in the last 12 months, but declined 10.63% year to-date. The total traded volume so far in the day stood at 5.8 times its 30-day average. The relative strength index was at 63.50.

Out of 16 analysts tracking the company, one has a 'buy' rating on the stock, three recommend 'hold' and 12 suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 49.8%.

The stock has risen nearly 12% in its three-day rally. It rose as much as 10.76% lifetime high of Rs 1,224.

The stock gained over 4% to hit its lifetime high of Rs 1,350 and contributed 30 points out of the 84 points rise in Nifty as of 12:21 p.m.

BSE Ltd. rose as much as 7.35% to Rs 3,060.90 apiece, the highest level since its listing on Feb 3, 2017. It was trading 7.13% higher at Rs 3,054.70 apiece, as of 12:09 p.m. This compares to a 0.34% advance in the NSE Nifty 50 Index.

It has risen 566.89% in 12 months. Total traded volume so far in the day stood at 3.0 times its 30-day average. The relative strength index was at 71.35, which implied the stock is overbought.

Out of eight analysts tracking the company, six maintain a 'buy' rating, two recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies a downside of 0.5%.

• Financial impact of fraud detected at Rs 150 crore

• Fraud incident to spook confidence on improving asset quality

• Event to be sentimentally negative for the stock

• Downside risks: Weak monsoons impacting rural consumption, aggressive competition

• Upside risks: Better than expected margin improvement, credit cost containment

• Q4 net profit 4% ahead of brokerage estimates

• Higher O2C EBITDA dampened by weaker E&P, slow Retail revenue growth

• Retail business seems to have undertaken some restructuring

• Headline GRMs weaker in Q1FY25 as higher oil prices seem to have pressured cracks

• Spending on new petchem and renewable capacities to help further growth

• Key catalysts: Telecom tariff increases; listing of subsidiaries

• Clarifies on media reports on Emirates NBD's likely acquisition of majority stake in Bank

• Says reports are 'speculative' and it is not appropriate for the bank to comment on it

Source: Exchange filing

Shares of HPL Electric & Power Ltd. hit an 10% upper circuit and rose to over two-month high on Tuesday after it launched a brand new consumer electrical product.

The company launched HPL Fans on Monday in Middle East, Africa, and SAARC countries. Customers can start booking the product through its website, HPL Electric & Power said in an exchange filing.

The scrip hit a 10% upper circuit and rose to Rs 364.30 apiece, the highest level since Feb 21. It came out of the upper circuit to trade 9.33% higher at Rs 362 apiece, as of 11:00 a.m. This compares to a 0.18% advance in the NSE Nifty 50 Index.

It has risen 298.79% in 12 months. Total traded volume so far in the day stood at 14 times its 30-day average. The relative strength index was at 64.68.

One analyst tracking the company maintains a 'buy' rating, according to Bloomberg data.

• Flash manufacturing PMI unchanged at 59.1

• Flash services PMI at 61.7 vs 61.2 in March

• Flash composite PMI at 62.2 vs 61.8 in March

Source: S&P Global

Shares of K.P. Energy Ltd. hit an 5% upper circuit and rose to over one-month high on NSE after it has bagged an wind power project.

The company has received the order from Bhathwari Technologies Pvt. Ltd. to develop 9 megawatt wind power project. The project is part of developing the wind-solar project in Gujarat, according to an exchange.

K.P. Energy Ltd. hit a 5% upper circuit and rose to Rs 409.85 apiece, the highest level since March 11. It remained locked in 5% upper circuit as of 10:19 a.m., as compared to 0.33% advance in the NSE Nifty 50 index.

It has risen 559.45% in 12 months. Total traded volume so far in the day stood at 1.4 times its 30-day average. The relative strength index was at 64.63.

Shares of Hatsun Agro Product Ltd. jumped over 13% after its net profit doubled in quarter four.

Popular as Arun ice cream producer saw its net profit grew 108.76% to Rs 52.15 crore during January-March period, from 24.98 crore in the corresponding period of last financial year.

Hatsun Agro Product surged 13.68% to Rs 1,164.40, the highest level since March 2. It was trading 12.58% at Rs 1,153.45 as of 09:51 a.m., as compared to 0.19% advance in the NSE Nifty 50 index.

The scrip gained 0.25% on year-to-date basis. Total traded volume so far in the day stood at 158 times its 30-day average. The relative strength index was at 80.83, which implied the stock is overbought.

Out of two analysts tracking the company, one maintains a 'buy' rating, and one suggests to 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 18.2%.

The company reported their Q4FY24 on Monday. Net profit was at Rs. 147 crore as against estimate loss of Rs 2.5 crore.

• Revenue up 343.29% at Rs 1,327 crore vs Rs 299 crore (Bloomberg estimate: Rs 804 crore).

• Ebitda at Rs 306.5 crore vs loss of Rs 8.19 crore (Bloomberg estimate: Rs 61 crore).

• Margin at 23.09% (Bloomberg estimate 7.5%).

• Net profit at Rs 146.78 crore vs loss of Rs 11.47 crore (Bloomberg estimate net loss of Rs 3 crore).

Reliance Industries Ltd.'s oil-to-chemicals and Jio Infocomm showed promising advancements, while Reliance Retail fell short of expectations.

However, there was a notable improvement in the balance sheet and a decrease in net debt, aided by capital raise and asset divestitures, according to brokerages

The scrip rose as much as 0.92% intraday to Rs 2,987 apiece, the highest level since April 2, before falling 0.2% to Rs 2,953.05 apiece, as of 09:52 a.m. This compares to a 0.23% advance in the NSE Nifty 50.

It has risen 14.43% on a year-to-date basis nad 34.64% in the last twelve months. Total traded volume so far in the day stood at 0.33 times its 30-day average. The relative strength index was at 54.22.

Mahindra & Mahindra Financial Services Ltd. plunged to over an one-month low after the company uncovered a Rs 150-core fraud relating to retail-vehicle loan disbursement.

The scrip dropped 8.02% to Rs 256.50 apiece, the lowest level since March 20. It pared losses to trade 4.66% lower at Rs 265.90 apiece, as of 09:29 a.m. This compares to a 0.29% advance in the NSE Nifty 50 Index.

It has risen 4.72% in 12 months. Total traded volume so far in the day stood at 91 times its 30-day average. The relative strength index was at 34.25.

Out of 39 analysts tracking the company, 20 maintain a 'buy' rating, 12 recommend a 'hold,' and seven suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 16.2%.

Benchmark equity indices extended their rally in the third consecutive session as shares of HDFC Bank recovered Monday's losses and Bharti Airtel led gains.

At pre-open, the S&P BSE Sensex Index was at 74,048.94, up 400.32 points or 0.54 % while the NSE Nifty 50 was at 22,447.05, up 110.65 points or 0.50%.

As long as the index is trading above the 22180/73100, the pullback formation is likely to continue, said Shrikant Chouhan, Head Equity Research, Kotak Securities.

"On the higher side index could find the resistance at 22400-22450/73900-74100," he said. "However, below 22180/73100 the sentiment could change. Below which we could see one quick correction up to 22100-22075/72800-72600."

Shares of HDFC Bank Ltd., Bharti Airtel Ltd., Infosys Ltd., Tata Consultancy Services Ltd., and HCL Technologies Ltd. contributed the most to the gains in the Nifty while Reliance Industries Ltd., Power Grid Corp. Of India Ltd., Nestle India Ltd., and Hindalco Industries weighed.

All sectoral indices opened higher with Nifty Realty rising the most by nearly 2%.

Broader markets were mixed. The S&P BSE Midcap rose 0.26% and the S&P BSE Smallcap index was 0.63% up.

On BSE, all 20 sectors advanced. The S&P BSE Realty and S&P BSE rose the most by over 2% each.

Market breadth was skewed in favour of buyers. On BSE, 2,020 stocks rose, 687 stocks declined, and 88 remained unchanged.

Nomura Maintains Neutral, TP Rs. 3,400, Downside 3.1%

• Margin expansion aspiration pushed out due to macro weakness

• We value the company at 30 times FY26PE

• Persistent will have to keep its SG&A at elevated levels to seize growth

• We expect Persistent to report EBIT margin expansion of 60bp in FY25 and 100bp in FY26

Kotak Maintains Reduce, TP revised to Rs. 3,450

• Reported EBIT margin of 14.5% missed our estimate by 30 bps and was flat qoq

• The discretionary spending environment remains tepid and will be unhelpful in FY2025.

• The spending outlook in hi-tech and BFSI has not lifted significantly.

• We expect it to report strong growth of 15.5% in FY2025, 100 bps above 14.5% growth in FY2024.

• However, the company needs to deliver to on both growth and margins to justify lofty valuations.

• We value the stock at 31X (33X earlier) June 2026E EPS,

• We like the business model and expect healthy consistent growth in the long run.

• Despite a sharp 10% correction after results, the stock still trades at expensive valuations of 33X FY2026E earnings.

• We await a better entry point to recommend the stock to investors.

At pre-open, the S&P BSE Sensex Index was at 74,048.94, up 400.32 points or 0.54 % while the NSE Nifty 50 was at 22,447.05, up 110.65 points or 0.50%.

• Upgrade to 'Buy' from outperform, TP revised to Rs.450 from Rs.335, upside 28%

• Indus Towers should be the key beneficiary of Vodafone Idea's fundraising and planned addition of 48,000 4G/5G sites

• Vodafone Idea's past dues settlement of Rs.57 billion could be worth an incremental Rs21/share for Indus

• Although Indus is up 150% in 12 months, it is still trading at a 60% discount to global tower peers

• With Indus's twin anchor tenants sealed, we believe the risk-reward has turned more favorable

The yield on the 10-year bond opened flat at 7.18%

Source: Bloomberg

The local currency opened largely flat at 83.36.

Source: Bloomberg

Nuvama Maintains BUY on Reliance Industries, raises target by 10% at Rs 3500, implying 18% upside

• Q4 EBITDA beat brokerage estimate by 2.5%

• O2C/Gas beat brokerage estimates by 12%/5%; Retail a miss by 8%

• Ril smartly moving up New Energy ladder by bagging several PLIs

• Production of Green Energy Complec in Jamnagar to start in H2CY24

• New Energy rollout to unleash next leg of growth

• Raise FY26 Ebitda by 8% on strong outlook

Jefferies maintains buy on RIL; hikes TP to Rs 3380 from Rs 3140

• EBITDA in line; Jio and O2C was ahead while retail was weaker

• Jio ARPU led beat on improving business mix

• Retail growth was soft but balance sheet improves

• O2C was broadly in line

• Capex rose YOY, positive FCF and net debt reduction

• Forecast 14% EBITDA growth in FY25E

• Raise EBITDA estimates for Jio by 1-4%

• Raise equity valuation of Jio, revise target multiple to 11.5x EV/EBITDA (in line with Bharti)

Motilal reiterates buy on RIL; TP: 3245

• RJio – growth driven by strong subscriber additions (in line)

• Reliance Retail – soft revenue growth; margin sustained

• Standalone: Beat led by better feedstock sourcing, ethane cracking, and higher domestic product placement

• RJio and Reliance Retail likely to record 14% and 25% EBITDA CAGR over FY24-26

• Remain positive on both the Refining and Petrochemical segments

• Model capex of INR650b for FY25 and FY26 each in the Standalone business

• Target Price Rs 520; Upside Potential of 17%

• Co's focus on increasing FSA and e-auction volumes - catalysts for strong performance

• Cost savings and infrastructure-improvement projects to drive greater productivity

• Forecast employee cost per tonne to fall to Rs 595 in FY25 and to Rs 590 in FY26 (vs 5-yr avg Rs 660)

• Risks: Pressure from international bodies regarding ESG, impact from commercial mining

• Target Rs 590

• The Derma Co is second brand to achieve considerable scale

• Actives-based BPC is an exciting global opportunity

• Honasa has 3 brands in the actives based BPC with a 20% share

• TDC achieved EBITDA breakeven in Q3FY24; profit ramp-up to be slower

• Retain buy with high conviction

• Fraud detected at one of company’s branches in the North East during the end of Q4

• Fraud involved forgery of KYC documents leading to embezzlement of company funds w.r.t. disbursement of retail vehicle loans

• Investigations in the matter are at an advanced stage

• Estimated financial impact of fraud is unlikely to exceed Rs 150 cr

• As a result, board meeting scheduled to be held on April 23 for approving Q4 earnings has now been deferred to a later date

Source: Exchange filing

• Offer price for Rs 18,000 crore FPO set at Rs 11/share

• Anchor investor offer price set at Rs 11/share

Source: Exchange filing

• U.S. Dollar Index at 106.08

• U.S. 10-year bond yield at 4.61%

• Brent crude up 0.39% at $87.34 per barrel

• Nymex crude down 0.35% at $82.85 per barrel 

• Bitcoin was up 0.70% at $67,006.88.

• Nifty April futures up by 1.2% to 22,358.2 at a premium of 21.8 points.

• Nifty April futures open interest down by 6.8%.

• Nifty Bank April futures up by 0.94% to 47,989.1 at a premium of 64.2 points.

• Nifty Bank April futures open interest down by 15.7%.

• Nifty Options April 25 Expiry: Maximum call open interest at 23,000 and maximum put open interest at 22,000.

• Bank Nifty Options April 24 Expiry: Maximum call open interest at 49,000 and maximum put open Interest at 45,000.

• Securities in ban period: Biocon, Hindustan Copper, Idea, Piramal Enterprises, SAIL and Zee Entertainment Enterprises.

The Indian rupee strengthened by 10 paise to close at Rs 83.37 against the US dollar.

• Indraprastha Medical Corp: Quant Mutual Fund - Quant Small Cap Fund bought 5.5 lakh shares (0.59%) at Rs 249.59 apiece.

• Rama Steel Tubes: Bansal Shashi sold 80 lakh shares (1.57%) at Rs 12.7 apiece.

• Moved into short-term ASM framework: Dhani Services, Likhitha Infrastructure, Premier Explosives, Solara Active Pharma Sciences, Yuken India

• Moved out of short-term ASM framework: Dynacons Systems and Solutions, IIFL Finance, Kaushalya Infrastructure Development Corp.

• Price band change from 20% to 10%: Premier Explosives, Solara Active Pharma Sciences.

• Price band change from 10% to 5%: Bajel Projects, Hind Rectifiers, Manorama Industries, Ramco Systems.

• Price band change from 20% to 5%: Latent View Analytics, Paramount Communications.

• Ex/record rights issue: IIFL Finance

• Ex/record special dividend: Aster DM

• Ex/record bonus issue: Anup Engineering

• JNK India: The company will offer its shares for bidding on Tuesday. The price band is set at Rs 395 to Rs 415 per share. The Rs 649.5-crore IPO is a combination of a fresh issue of Rs 300 crore and the rest of the offer for sale. The company has raised Rs 194 crore from anchor investors.

• Vodafone Idea: The fund offer was subscribed to 6.36 times on day 3. The bids were led by institutional investors (17.56 times), non-institutional investors (4.13 times), and retail investors (0.92 times).

• Indian Overseas Bank: The company will raise up to Rs 1,000 crore via debt and Rs 5,000 crore via equity.

• Patel Engineering: The board approved the opening of the QIP issue at a floor price of Rs 59.5 per share, which is a 10% discount to the current market price. The company may offer a discount of up to 5% on the floor price.

• Wipro: The company's step-down unit, Synchrony Global, has been voluntarily dissolved, effective Tuesday.

• Hero MotoCorp: Chief Technology Officer Arun Jaura resigned from his position effective April 30.

• IndusInd Bank: The company launched the pilot of programmable central bank digital currency in collaboration with Circularity Innovation Hub India.

• RR Kabel: The board approved the termination of Dinesh Aggarwal as chief executive officer, effective Tuesday. The roles and responsibilities of the CEO will be taken over by Shreegopal Rameshwarlal Kabra, managing director of the company.

• KP Energy: The company received an order for a 9 MW wind power project from Bhathwari Technologies.

• Patanjali Foods: The company incorporated two wholly owned subsidiaries, Contemporary Agro and Rishikrishi Farming, for Rs 20 lakh each.

• HPL Electric and Power: The company launched a new product, HPL Fans, in Saarc countries, the Middle East and African countries.

• Redtape: The company commenced online operational activity from its new warehouse situated in Bhiwandi.

Reliance Industries (Consolidated, QoQ)

• Revenue at Rs 2.37 lakh crore vs Rs 2.25 lakh crore (Bloomberg estimate Rs 2.36 lakh crore).

• Ebitda at Rs 42,536 crore vs Rs 40,656 crore (Bloomberg estimate Rs 42,423 crore).

• Margin at 18% vs 18.06% (Bloomberg estimate 18%).

• Net profit at Rs 21,243 crore vs Rs 17,265 crore (Bloomberg estimate Rs 19,727 crore).

Reliance Jio (Consolidated, QoQ)

• Revenue up 2.32% at Rs 25,959 crore vs Rs 25,368 crore.

• Ebitda up 2.52% at Rs 13,612 crore vs Rs 13,277 crore.

• Margin up 9 bps at 52.43% vs 52.33%.

• Net profit up 2.47% at Rs 5,337 crore vs Rs 5,208 crore.

Reliance Retail (Consolidated, YoY)

• Net profit up 11.7% to Rs 2,698 crore Vs Rs 2,415 crore.

• Revenue up 9.8% to Rs 67,610 crore Vs Rs 61,559 crore.

• Ebitda up 18.1% to Rs 5,623 crore Vs Rs 4,769 crore.

• Margins at 8.6% Vs 8%.

Tejas Network (Consolidated, YoY)

• Revenue up 343.29% at Rs 1,327 crore vs Rs 299 crore (Bloomberg estimate: Rs 804 crore).

• Ebitda at Rs 306.5 crore vs loss of Rs 8.19 crore (Bloomberg estimate: Rs 61 crore).

• Margin at 23.09% (Bloomberg estimate 7.5%).

• Net profit at Rs 146.78 crore vs loss of Rs 11.47 crore (Bloomberg estimate net loss of Rs 3 crore).

Rallis India (Consolidated, YoY)

• Revenue down 16.64% at Rs 436 crore vs Rs 523 crore.

• Ebitda at Rs 6 crore vs loss of Rs 64 crore.

• Margin at 1.37%.

• Net loss at Rs 21 crore vs loss of Rs 69 crore.

• Board approved the dividend of Rs 2.5 per share.

Mahindra Logistics (Consolidated, YoY)

• Revenue up 14% at Rs 1,450 crore vs Rs 1,272 crore (Bloomberg estimate: Rs 1,419 crore).

• Ebitda down 11.15% at Rs 56.61 crore vs Rs 63.72 crore (Bloomberg estimate: Rs 60 crore).

• Margin down 110 bps at 3.9% vs 5% (Bloomberg estimate: 4.2%).

• Net loss at Rs 12.85 crore vs loss of Rs 0.82 crore (Bloomberg estimate loss of Rs 9 crore).

• Recommended the final dividend of Rs 2.50 per share.

• Approved reappointment of Rampraveen Swaminathan as MD and CEO for 5 years effective Feb. 4, 2025.

Hatsun Agro Product (Consolidated, YoY)

• Revenue up 14.38% at Rs 2,047 crore vs Rs 1,789 crore.

• Ebitda up 46.78% at Rs 230 crore vs Rs 156 crore.

• Margin up 247 bps at 11.21% vs 8.74%.

• Net profit up 108.76% at Rs 52.15 crore vs Rs 24.98 crore.

Tata Consumer Products Ltd., ICICI Prudential Life Insurance Co., Tata Elxsi Ltd., Mahindra & Mahindra Financial Services Ltd., MCX Ltd., Huhtamaki India Ltd., Cyient DLM Ltd. and 360 One WAM Ltd.

The April futures contract of the GIFT Nifty was trading at 22,418.00, down 39.5 points or 0.18% as of 7:04 a.m.

Markets in the Asia-Pacific region rose for a second day in a row on Tuesday ahead of the release of business figures around the globe, and in anticipation of positive earnings from big tech giants.

Hong Kong's Hang Seng gained the most by nearly 2%.

US stocks rebounded on Monday, with corporate America kicking off the busiest week for first-quarter earnings that will be key in shaping the outlook for equities, reported Bloomberg.

The S&P 500 Index and Nasdaq Composite rose 0.87% and 1.11%, respectively as of Tuesday. The Dow Jones Industrial Average rose by 0.67%.

Brent crude rose 0.39% at $87.34 per barrel. Gold was down by 0.69% at 2,311.20 an ounce.

India's benchmark stock indices ended higher for the second straight session on Monday, led by gains in shares of ICICI Bank Ltd., Larsen & Toubro Ltd. and Infosys Ltd.

The NSE Nifty 50 settled 189.40 points, or 0.86%, higher at 22,336.40, and the S&P BSE Sensex gained 560.29 points, or 0.77%, to end at 73,648.62.

Overseas investors turned net sellers after a day on Monday. Foreign portfolio investors offloaded stocks worth Rs 2,915.2 crore and domestic institutional investors turned net buyers after a day and mopped up equities worth Rs 3,542.9 crore, the NSE data showed.

The Indian rupee strengthened by 10 paise to close at Rs 83.37 against the US dollar.