KEY HIGHLIGHTS
FPIs Stay Net Buyers For The Sixth Straight Day
Overseas investors in Indian equities remained net buyers for the sixth day in a row on Thursday.
Foreign portfolio investors mopped up stocks worth Rs 475.81 crore, according to data from the National Stock Exchange.
Domestic institutional investors were net sellers for the third straight day and offloaded stocks worth Rs 997.08 crore, the NSE data showed.
Foreign institutions invested in Indian equities have remained net sellers so far in 2023, offloading equities worth around Rs 48,953.07 crore.
Yield On The 10-Year Bond Falls
The yield on the 10-year bond closed 7 bps lower at 7.20% on Thursday after RBI paused the policy rate hikes.
It fell as much as 7.18% intraday, the most in four months since Dec. 2, 2022.
It closed at 7.27% on Wednesday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency strengthened about 10 paise to close at 81.90 against the greenback on Thursday.
It strengthened the most in eight weeks since Feb. 3, 2023, when it closed at 81.84.
It closed at 82 on Wednesday.
Source: Bloomberg
Sensex, Nifty Advance For The Fifth Consecutive Trading Session
Indian equity benchmarks ended Thursay higher as the Monetary Policy Committee decided to keep the benchmark repo rate unchanged. On a weekly basis, the headline indices closed higher for the second week in a row.
As most Asian markets declined, Indian shares provided a relative bright spot in trading, with the NSE Nifty 50 and S&P BSE Sensex advancing after the central bank paused its rate hikes. RBI Governor Shaktikanta Das added that the committee was ready to act should the situation so warrant.
Globally, treasury yields headed for one of the longest streak of declines since 2020 and the U.S. equity-index futures were little changed as bets the world economy is set for a sharper slowdown outweighed concerns over elevated inflation and monetary tightening.
Contracts on the S&P 500 and Nasdaq 100 indexes slipped less than 0.2% each, while a gauge of global stocks headed for a weekly loss. European stocks rose, with the benchmark Stoxx 600 ending a three-day slide, as traders assessed trends in corporate earnings.
The S&P BSE Sensex Index closed up 144 points or 0.24% at 59,832.97 while the NSE Nifty 50 Index was higher by 42 points or 0.24% at 17,599.15.
IndusInd Bank Ltd., Maruti Suzuki India Ltd., HDFC Bank Ltd., Reliance Industries Ltd., and Bajaj Finance Ltd. were positively adding to the change.
Whereas, HCL Technologies Ltd., Tata Consultancy Services Ltd., Axis Bank Ltd., JSW Steel Ltd., and Power Grid Corp of India Ltd. were negatively contributing to the change in the Nifty 50 Index.
All the Adani Group company rose in trade, with Adani Transmission Ltd., Adani Green Energy Ltd., NDTV Ltd., Adani Total Gas Ltd. and Adani Enterprises Ltd. rising the most.
The broader market indices ended higher in trade; S&P BSE MidCap Index was up by 0.71%, whereas S&P BSE SmallCap Index was higher by 0.70%.
Fourteen out of the 20 sectors compiled by BSE advanced, while S&P BSE Fast Moving Consumer Goods, S&P BSE Information Technology, S&P BSE Telecommunication, S&P BSE Consumer Durables, S&P BSE Metal and S&P BSE Teck declined in trade.
The market breadth was skewed in the favour of buyers. About 2,389 stocks rose 1,137 declined, and 110 remained unchanged on the BSE.
The headline indices ended higher for the second week in a row. Sensex logged weekly gains of 1.43%, whereas Nifty advanced 1.38% in trade this week.
Indices ended at a 23-week high since Oct. 21, 2022, last Friday. The S&P BSE Sensex Index advanced 2.55%, and the NSE Nifty 50 Index was up 2.55%.
All the sectors advanced in trade this week with Nifty Realty, Midcap 100, Pharma and Media being the top gainers.
Avalon Technologies IPO Fully Subscribed On Day 3
Bidding was led by qualified institutional buyers (2.41 times).
The offer closes on April 6.
Source: BSE
I.T. Stocks Decline
Shares of information technology services companies were trading lower on Thursday as the NSE Nifty IT Index declined 0.94%, as compared to a 0.11% advance in the NSE Nifty 50.
All the 10 constituents compiled by the gauge declined.
Shares of L&T Technology Services Ltd., Mphasis Ltd., Tech Mahindra Ltd., LTIMindtree Ltd., HCL Technologies Ltd. and Coforge Ltd. declined over 1% intraday.
Source: NSE
Stocks In Focus: HDFC Securities On Sugar Stocks, Banks And More
RBI Hits Pause On Rate Hikes As It Continues To Battle Inflation
RBI Monetary Policy Meet Outcome: All You Need To Know
European Markets Trade Higher
Stocks At 52-Week High Intraday
Nifty 500 stocks that hit 52-week low, intraday.
Real Estate Stocks Rejoice RBI's Rate Pause Amid Inflation Concerns
Real estate companies cheered the Reserve Bank of India's decision to keep the policy rates unchanged at 6.5% during the bi-monthly Monetary Policy Committee meeting on Thursday.
The realty stocks advanced in trade after RBI announced its decision as, "this will help keep inflation in check and improve market sentiments, which is the need of the hour. This is a big booster for the real estate sector which was overlooked in the recently concluded budget," said Pritam Chivukula, the co-founder and director of Tridhaatu Realty and Treasurer, Credai MCHI.
Following the development from RBI, the industry also pinned its hope on the state governments to reduce the stamp duty on property registration to bolster home buyers' sentiments.
We can look forward to seeing resurgence for real estate demand. We hope that the State Government will step-in again to lighten the homebuyer’s load by reducing stamp duty to further boost the sentimentsPritam Chivukula, Co-Founder and Director, Tridhaatu Realty and Treasurer, Credai MCHI
While the demand for housing is likely to increase after RBI's decision, Himanshu Jain, vice president of sales, marketing and CRM at Satellite Developers Pvt. said, "for first-time home buyers, acquiring a home is considered as the biggest asset and this move will have a positive impact on a buyer’s decision".
Also Read: RBI Monetary Policy Highlights: Surprise Rate Pause, But War Against Inflation To Continue
Shares of real estate companies were trading higher on Thursday as compared to a 0.36% advance in the headline index NSE Nifty 50.
The NSE Realty Index was up 2.15% in trade. All the 10 constituents compiled by the gauge advanced.
Godrej Properties Ltd., DLF Ltd., Oberoi Realty Ltd., Mahindra Lifespace Developers Ltd., Sobha Ltd., Prestige Estate Projects Ltd., Indiabulls Real Estate Ltd., Brigade Enterprises Ltd., Macrotech Developers Ltd., and Phoenix Mills Ltd. advanced in trade.
Yield On The 10-Year Bond Falls
The yield on the 10-year bond was trading about 7 bps lower at 7.20% in trade on Thursday after RBI paused the policy rate hikes.
It closed at 7.27% on Wednesday.
Source: Bloomberg
Sensex, Nifty Hold Gains After RBI Pauses Hikes; IndusInd Bank, Bajaj Finance, Reliance Lead: Midday Market Update
Indian equity benchmarks reversed early declines to hold on to gains through midday on Thursay as the Monetary Policy Committee decided to keep the benchmark repo rate unchanged. RBI Governor Shaktikanta Das added that the committee was ready to act should the situation so warrant.
The headline indices were trading at their highest levels since March 9, as NSE Nifty 50 was above 17,600, whereas S&P BSE Sensex was inching closer to 60,000-level.
U.S. equity futures fell while the Asian markets rallied against the backdrop of weaker-than-expected economic data that supported forecasts for recession. Contracts for the Euro Stoxx 50 were little changed.
Benchmarks declined in China, Japan, South Korea and Australia on Thursday. Contracts for the U.S. shares fell after the S&P 500 retreated 0.3% on Wednesday as selling pressure clustered in vulnerable corners of the market. The tech-heavy, Nasdaq 100 dropped 1%, eroding stellar gains from the first quarter.
As of 12:08 p.m., the S&P BSE Sensex Index was up 144 points or 0.34% at 59,833.10 while the NSE Nifty 50 Index was higher by 45 points or 0.26% at 17,602.45.
IndusInd Bank Ltd., Reliance Industries Ltd., Bajaj Finance Ltd., State Bank of India, and Larsen & Toubro Ltd. were positively adding to the change.
Whereas, Axis Bank Ltd., Tata Consultancy Services Ltd., Power Grid Corp of India Ltd., HCL Technologies Ltd., and Nestle India Ltd. were negatively contributing to the change in the Nifty 50 Index.
Also Read: RBI Monetary Policy Highlights: Surprise Rate Pause, But War Against Inflation To Continue
All the Adani Group company stocks recovered in trade, with Adani Transmission Ltd., Adani Green Energy Ltd., Adani total Gas Ltd. and Adani Enterprises Ltd. rising the most.
The broader market indices were trading higher; S&P BSE MidCap was up by 0.49%, whereas S&P BSE SmallCap was higher by 0.51%.
Sixteen out of the 20 sectors compiled by BSE advanced, while S&P BSE Fast Moving Consumer Goods, S&P BSE Information Technology, S&P BSE Metal and S&P BSE Teck declined in trade.
The market breadth was skewed in the favour of buyers. About 2,250 stocks rose 1,043 declined, and 121 remained unchanged on the BSE.
Godrej Properties Advances
Shares of Godrej Properties Ltd. gained as much as 4.32% to Rs 1,102.15 apiece as compared to a 0.21% decline in the benchmark, BSE Sensex Index.
The stock advanced as much as 4.40% intraday, rising the most in over four weeks since March 3, 2023.
Out of the 22 analysts tracking the company, 12 maintain a 'buy' rating, 5 recommend a 'hold' and 'sell' each on the stock, as per the Bloomberg data.
The return potential as calculated by the consensus of analyst estimates, stand at an upside of 29.1% over the next 12 months
Source: Bloomberg, Exchange filing
Angel One Shares Gain As Client Base Grows 50% Annually In Q4
Shares of Angel One Ltd. rose the most in two weeks as the company's client base logged an annual growth of nearly 50% in the fourth quarter of the financial year 2022-2023.
Angel One's client base grew 3.3% on a monthly basis to nearly 137.8 lakh customers in March, as compared to a 133 lakh customers in February. On an annual basis, the client base grew 49.5% in the fourth quarter from 92.1 lakh customers in the same period of the financial year 2021-2022.
On the other hand, the client funding book dropped by 3.8% to Rs 125 crore, as compared to nearly Rs 130 crore in February. Also, it fell 17.5% to 131.4 crore in Q4FY23 as compared 159.3 crore in the same period of FY22.
The number of orders logged in the month of March grew 11.7% to 9.32 crore in March as compared to 8.35 crore in February. On an annual basis, it advanced 24.6% to 26.27 crore orders in Q4FY23 from 21.08 crore orders in the same quarter of the FY22.
Additionally, on a monthly basis in March, the company's average daily turnover rose 18.5% month-on-month to Rs 20.83 lakh crore. Retail turnover of the market share rose 120 basis points to 23.8% from 22.6% in the previous month.
Also Read: RBI Monetary Policy Highlights: Surprise Rate Pause, But War Against Inflation To Continue
Shares of Angel One Ltd. rose 1.68% to Rs 1,188 apiece, as of 11:29 a.m., in trade on Thursday compared to the advance in the benchmark, NSE Nifty 50 Index by 0.27%.
The stock gained as much as 3.91% intraday, the most in two weeks since March 23, 2023.
Total traded volume stood at 1.9 times its 30-day average. The relative strength index was at 59.3.
Out of the eight analysts tracking the company, six maintain a 'buy' rating, five recommend a 'hold' and one suggest to 'sell' the stock, as per the Bloomberg data.
The return potential as calculated by the consensus of analyst estimates, stand at an upside of 42.5% over the next 12 months.
Source: Bloomberg, Exchange filing
TTK Healthcare Shares Hit 52-Week High As Board Decides To Mull Delisting On April 20
TTK Healthcare Ltd. share advanced in trade to hit a 52-week high as the company announced in an exchange filing that th board of directors will meet on April 20 to consider delisting.
The board of directors will review the delisting proposal for TTK Healthcare to acquire all equity shares held by the public shareholders. Due diligence report of the company secretary will be reviewed and the board shall appoint a peer review company secretary, as per SEBI's delisting regulations.
To prevent insider trading, the trading window has been closed April 1, 2023 onwards and it will continue to remain closed for 48 hours after declaration of the board meet or the Q4FY23 financial results, whichever is later.
Shares of TTK Healthcare Ltd. rose 2.72% to Rs 1,293 apiece, as of 10:47 a.m., in trade on Thursday compared to the decline in the benchmark, NSE Nifty 50 Index by 0.15%.
The stock gained as much as 17.10% intraday, hitting a 52-week high at Rs 1,474 apiece.
Total traded volume stood at 37.7 times its 30-day average. The relative strength index was at 85.7, implying that the stock maybe overbought.
Source: Bloomberg, Exchange filing
PSU Banking Stocks Advance
Shares of PSU banking companies were trading higher on Thursday as compared to a 0.13% advance in the headline index NSE Nifty 50.
The NSE PSU Bank Index was up 1.04% in trade. All the 23 constituents compiled by the gauge advanced.
Bank of Maharashtra, Indian Overseas Bank, State Bank of India, UCO Bank, Indian Bank, Central Bank of India, Canara Bank, Punjab National Bank, Punjab and Sind Bank, Union Bank of India, Bank of Baroda and Bank of India advanced in trade.
Source: NSE
Sensex, Nifty Recoup Losses As RBI MPC Keeps Policy Rate Unchanged
The NSE Nifty 50 and S&P BSE Sensex Index were hovering near theirs four-week high as RBI MPC voted unanimously to keep policy rate unchanged at 6.5%
MPC voted 5 out of 6 to remain focused on withdrawal of accommodation.
Yield On The 10-Year Bond Falls
The yield on the 10-year bond declined about 8 bps to 7.19% in trade on Thursday.
It closed at 7.27% on Wednesday.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency weakened 7 paise to trade at 82.02 against the greenback on Thursday.
Source: Bloomberg
Ramkrishna Forgings Rises The Most In Over Three Weeks As Consortium Wins Major Order From Railway Ministry
Shares of Ramkrishna Forgings Ltd. and Titagarh Wagons Ltd. rose in trade as the consortium led by the former bagged orders from Railways Ministry.
The consortium has received Letter of Award for order worth Rs 12,226.5 crore. It will manufacture and supply 15.4 lakh forged wheels of different rolling stocks to the Railways Ministry for over 20 years.
Shares of Ramkrishna Forgings Ltd. rose 4.37% to Rs 294.95 apiece, as of 9:53 a.m., in trade on Thursday compared to the decline in the benchmark, NSE Nifty 50 Index by 0.15%.
The stock gained as much as 4.60% intraday, the most in over three weeks since March 15, 2023.
Total traded volume stood at 3.1 times its 30-day average. The relative strength index was at 64.8.
Out of the seven analysts tracking the company, six maintain a 'buy' rating and one suggests to 'sell' the stock, as per Bloomberg data.
The return potential as calculated by the consensus of analyst estimates, stand at an upside of 13.9% over the next 12 months.
Shares of Titagarh Wagons Ltd. rose 1.33% to Rs 277.55 apiece, as of 9:53 a.m., in trade on Thursday compared to the decline in the benchmark, NSE Nifty 50 Index by 0.15%.
The stock gained as much as 3.19% intraday, the most since April 4, 2023.
Cholamandalam Shares Surge Most In Over Nine Weeks As Disbursement, Collection Efficiency Improve In Q4FY23
Cholamandalam Investment and Finance Company Ltd. advanced in trade on Thursday as the total disbursements and collection efficiency of the non-banking financial company improved in FY23, as reported in an exchange filing.
Total disbursements by the company increased 65% to Rs 21,020 crore in the fourth quarter of the financial year 2022-2023. Overall, collection efficiency on billing stood at 130% and the company holds a cash balance of Rs 5.22 crore.
Shares of Cholamandalam Investment and Finance Company Ltd. rose 4.98% to Rs 821.6 apiece, as of 9:39 a.m., in trade on Thursday compared to the decline in the benchmark, NSE Nifty 50 Index by 0.20%.
The stock gained as much as 5.54% intraday, the most in over nine weeks since Feb. 1, 2023.
Total traded volume stood at 18.3 times its 30-day average. The relative strength index was at 69.2.
Out of the 36 analysts tracking the company, 29 maintain a 'buy' rating, five recommend a 'hold' and two suggest to 'sell' the stock, as per the Bloomberg data.
The return potential as calculated by the consensus of analyst estimates, stand at an upside of 5.9% over the next 12 months.
Source: Bloomberg, Exchange filing
Kalyan Jewellers Reports Fourth Quarter Business Updates
Consolidated revenue growth in Q4 was 17%, while in FY23 it was 29%.
India business recorded revenue growth of approximately 16% year-on-year, and 28% in fiscal 2023.
Non-south markets recorded higher revenue growth largely due to the greater number of showrooms launched.
The company has 147 showrooms in India and 182 in total, including the ones in the Middle East.
In the Middle East, the company witnessed a revenue growth of approximately 27% YoY.
Source: Exchange Filing
Adani Group Company Stocks Trade Mixed
Most Adani Group company stocks advanced in trade, whereas Adani Total Gas Ltd., Adani Power Ltd., Adani Ports and SEZ Ltd. and Ambuja Cements Ltd. declined.
Source: Bloomberg
Broader Markets Trade Mixed
The broader market indices traded mixed; S&P BSE MidCap was lower by 0.02%, whereas S&P BSE SmallCap was higher by 0.25%.
Twelve out of the 20 sectors compiled by BSE declined, while eight advanced in trade.
The market breadth was skewed in the favour of buyers. About 1,716 stocks rose 823 declined, and 89 remained unchanged on the BSE.
Source: BSE
Top Movers On The Nifty 50 Index
Larsen & Toubro Ltd., BPCL Ltd., Adani Enterprises Ltd., Dr Reddy's Laboratories, and Bajaj Auto Ltd. were the top gainers in the NSE Nifty 50 gauge.
Axis Bank Ltd., HCL Technologies Ltd., Titan Co., Bajaj Finance Ltd., and Hindustan Unilever Ltd. were the top losers in the NSE Nifty 50 gauge.
Sensex, Nifty Decline Ahead Of RBI MPC's Decision
Indian equity benchmarks fell at the opening bell on Thursday as investors await the Reserve Bank of India's decision on the monetary policy later today.
Asian markets fell after the U.S. equities dropped and government bonds rallied against the backdrop of weaker-than-expected economic data that supported forecasts for recession.
Contracts for share benchmarks in Japan and Australia declined. The S&P 500 retreated 0.3% as selling pressure clustered in vulnerable corners of the market.
The tech-heavy Nasdaq 100 dropped 1%, eroding a stellar first quarter in which the tech-heavy index rose by fifth. An index of non-profitable tech companies fell 4%.
At pre-open, the S&P BSE Sensex Index was down 63 points or 0.10% at 59,626.74 while the NSE Nifty 50 Index was lower by 23 points or 0.13% at 17,533.85
Sensex, Nifty Decline At Pre-Open
At pre-open, the S&P BSE Sensex Index was down 63 points or 0.10% at 59,626.74 while the NSE Nifty 50 Index was lower by 23 points or 0.13% at 17,533.85.
Source: Bloomberg
Yield On The 10-Year Bond Flat
The yield on the 10-year bond opened flat at 7.28% in trade on Thursday. It closed at 7.27% on Wednesday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency appreciated by 5 paise to open at 81.95 against the greenback. It closed at 82 on Wednesday.
Source: Bloomberg
Macrotech Developers Fourth Quarter Operational Updates
Pre-sales in fourth quarter declined 12% year-on-year to 3,025 crore.
January-March pre-sales fell marginally from the third quarter.
Collections grew 3% year-on-year and 9.4% sequentially to Rs 2,933 crore in fourth quarter.
Net debt reduced to Rs 7,071 crore in Q4 from Rs 8,042 in the previous quarter.
Lodha added 12 new projects with gross development value of about Rs 19,800 crore across micro markets of MMR, Pune and Bengaluru in Q4.
Source: Exchange filings
KEC International Wins Rs 1,213-Crore Projects And Scales Highest-Ever Order Inflow In FY23
Company has won new orders worth Rs 1,213 crore and recorded its highest-ever order intake in FY23 as it grew by 30% to Rs 22,378-crore.
It secured orders for transmission and distribution projects in India, SAARC, Middle East, East Asia Pacific and America.
Company has also secured civil work order in the urban infra segment in India along with orders for various types of cables in India and overseas.
Source: Exchange filing
Angel One's Client Base Rises 3.3% MoM In March
Angel One's client base rose 3.3% on a monthly basis in March, whereas the client funding book drops by 3.8% to Rs 125 crore.
The number of orders logged in the month of March grew 11.7% to 9.32 crore in March as compared to 8.35 crore in February.
Company's average daily turnover rose 18.5% month-on-month to Rs 20.83 lakh crore in March.
Retail turnover of the market share rose 120 basis points to 23.8% in March from 22.6% in the previous month.
Source: Exchange filing
Investors Must Keep An Eye Out For RBI MPC Decision: Trade Setup
TTK Healthcare Board To Meet On April 20 To Consider Delisting
The board of directors will review the delisting proposal for TTK Healthcare to acquire all equity shares held by the public shareholders.
Due diligence report of the company secretary will be reviewed, and the board shall appoint a peer review company secretary, according to SEBI's delisting regulations.
The trading window has been closed since April 1 and will continue to remain shut for 48 hours after the declaration of the board meeting or the Q4FY23 financial results, whichever is later.
Source: Exchange filing
Global Cues
U.S. Dollar Index at 102
U.S. 10-year bond yield at 3.30%
Brent crude down 0.68% to $84.41 per barrel
Nymex crude down 0.68% to $80.06 per barrel
Dow Jones Futures down 0.10% at 33,621
S&P 500 Futures down 0.19% at 4,109.5
Nasdaq Futures down 0.36% at 13,033
SGX Nifty down 0.20% at 17,589 as of 7:35 a.m.
Bitcoin down 0.23% at $28,092.06
Pledge Share Details
Asahi India Glass: Promoter and director Sanjay Labroo created a pledge of one lakh shares on March 31.
Choice International: Promoter group Patodia Properties created a pledge of 38.50 lakh shares on March 31.
Gati: Promoter TCI Finance revoked a pledge of 2.03 lakh shares on March 31.
Insider Trading
Confidence Petroleum India: Promoter group Confidence LPG Bottling bought 1.45 lakh shares on March 31.
BLS International Services: Promoter group Ruchita Gaurav Aggarwal bought 12,547 shares on March 14.
Sterling and Wilson Renewable Energy: Promoter Shapoorji Pallonji and Company sold 10 lakh shares on March 31.
Trading Tweaks
Price Band Revised From 10% To 5%: Brightcom Group
Price Band Revised From 20% To 5%: GHCL
Ex-Date Interim Dividend: Rail Vikas Nigam, Vedanta
Record Date Interim Dividend: Rail Vikas Nigam
Ex-Date Spin Off: GHCL
Move Into Short-Term ASM Framework: SML Isuzu
Offerings: Avalon Technologies IPO Day 3
Avalon Technologies: The issue was subscribed 9% on the second day. The retail portion again saw the most demand and was subscribed 45%. Non-institutional investors placed bids for 5% of their basket, while no bids were received from institutional investors.
Stocks To Watch: Tata Steel, D-Mart, Nykaa, Hero Moto, Reliance, Rail Vikas Nigam In Focus
Tata Steel: Business Updates for Q4 FY23 (YoY)
Tata Steel India recorded a 5% rise in crude steel production at 5.15 million tonnes.
Delivery volumes ticked up marginally to 5.15 million tonnes during the quarter.
Neelachal Ispat Nigam has an annual capacity of 1 million tonnes of crude steel and pig iron.
Tata Steel Europe saw production stay flat at 2.31 million tonnes, while deliveries dipped 11% to 2.13 million tonnes
Avenue Supermarts: Business Updates for Q4 FY23
The company reported a 20% YoY rise in standalone revenue from operations at Rs 10,337 crore.
The number of stores, as of March 31 stood at 324.
Ujjivan Small Finance Bank: Business Updates for Q4 FY23 (YoY)
Total deposits increased 39% to Rs 25,481 crore, while CASA deposits increased 35% to Rs 6,733 crore.
Gross loan book grew 33% to Rs 24,114 crore.
Disbursements increased 23% to Rs 6,001 crore.
Cholamandalam Investment and Finance Company: Business Updates for Q4 FY23 (YoY)
Disbursements increased 65% to Rs 21,020 crore.
Overall, collection efficiency on billing stood at 130%.
The company holds a cash balance of Rs 5,22 crore.
Equitas Small Finance Bank: Business Updates for Q4 FY23
Total deposits rose 34% to Rs 25,381 crore.
CASA deposits increased 9% to Rs 10,732 crore.
Gross advances increased 36% to Rs 28,061 crore.
Disbursements grew 80% to Rs 5,917 crore
FSN E-Commerce Ventures: Business Updates for Q4 FY23 (YoY)
Nykaa said sustained consumption by Tier 1 consumers led to stronger revenue growth.
The company saw sustained strong demand for the beauty and personal care categories.
It expects percentage revenue growth rates for FY23 to be in line with the ones seen in 9M FY23, early-thirties.
Hero MotoCorp: The company announced a voluntary retirement scheme open to all of its employees. The plan offers a one-time lump sum amount, variable pay, gifts, medical coverage, retention of the company car, relocation assistance, etc.
Reliance Industries: Reliance Retail Ventures, the retail arm of the conglomerate, opened its flagship store in Mumbai and launched the app and website for its beauty brand Tira.
Larsen & Toubro/Chambal Fertilisers and Chemicals: Chambal Fertilisers and Chemicals awarded a contract worth Rs 960.71 crore to Larsen & Toubro for building a technical ammonium nitrate manufacturing plant with an annual capacity of 2.4 lakh metric tonnes.
Dalmia Bharat Sugar and Industries: The board approved a capex of Rs 400 crore for setting up a grain-based distillery at the company’s Nigohi unit with a daily capacity of 250 kilolitres. It also approved capacity expansion at the Ramgarh Sugar unit from 6,600 tonnes of cane per day to 7,000 tonnes of cane per day at a capital expenditure of Rs 14 crore.
Infosys: The company extended its collaboration with data and analytics company LexisNexis to provide end-to-end information services across their range of content, enterprise, and product applications.
Rail Vikas Nigam: The company emerged as the lowest bidder for the provision of E1-based automatic signalling with continuous track circuiting and other associated works in the Jhansi-Gwalior section of the Jhansi Division of the North Central Railway at a cost of Rs 121.06 crore.
Religare Enterprises: The company will acquire the entire 87.5% stake of Religare Housing Development Finance Corporation from its wholly owned subsidiary, Religare Finvest. The company will also acquire a 100% stake in MIC Insurance Web Aggregator from iGear Holdings, a part of The Indian Express Group, for an undisclosed cash consideration.
Coffee Day Enterprises: The company appointed Crest Law firm for the recovery of outstanding dues from Mysore Amalgamated Coffee Estates to its seven subsidiaries.
SGX Nifty Signals Lower Open For Benchmarks
Asian markets were set to fall after U.S. equities dropped and government bonds rallied against the backdrop of weaker-than-expected economic data that supported recession forecasts.
Contracts for share benchmarks in Japan and Australia declined. The S&P 500 retreated 0.3% as selling pressure clustered in vulnerable corners of the market.
The tech-heavy Nasdaq 100 dropped 1%, eroding a stellar first quarter in which the tech-heavy index rose by a fifth. An index of non-profitable tech companies fell 4%.
The yield on the 10-year Treasury note was trading at 3.30%. Crude oil prices trade above the $85 mark, while Bitcoin is hovering around the $28,000 level.
At 8:10 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 0.16% at 17,597.
Investors await the Reserve Bank of India's decision on the monetary policy later today. Indian benchmark indices—Sensex and Nifty—gained almost 1% as a rally in non-banking financial companies boosted markets on Wednesday in the truncated week.
The rupee strengthened against the U.S. dollar, tracking positive sentiments in the domestic equity market.
Overseas investors in Indian equities remained net buyers for the fifth day in a row on Wednesday. Foreign portfolio investors mopped up stocks worth Rs 806.8 crore, whereas domestic institutional investors were net sellers for the second straight day and offloaded stocks worth Rs 947.2 crore, the NSE data showed.
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