Sensex Today Live : Creative Newtech reported a total income of ₹320.44 crore, down 20.48% YoY from ₹402.98 crore in Q4FY23

EBIDTA for Q4FY24 was ₹28.05 crore, up 144.05% YoY from ₹11.49 crore in Q4FY23

EBITDA margin for Q4FY24 stood at 8.75%, an increase of 590 basis points YoY from 2.85% in Q4FY23

Profit After Tax for Q4FY24 was ₹20.36 crore, up 215.55% YoY from ₹6.45 crore in Q4FY23. The annual PAT also increased 77.08% YoY, to reach ₹48.25 crore in FY24

PAT margin for Q4FY24 stood at 6.35%, an increase of 475 basis points YoY from 1.60% in Q4FY23

Sensex Today Live : DCX Systems posted operational revenue growth of 46.16% YoY, rising to ₹746.20 crore in Q4FY24, from ₹510.55 crore in Q4FY23.

Ebitda for Q4FY24 decreased by 5.89% YoY to ₹51.91 crore, compared to ₹55.16 crore in Q4FY23

Ebitda margin decreased 384 basis points YoY to 6.96% in Q4FY24, from 10.80% in Q4FY23.

The company posted a PAT of ₹32.95 crore in Q4FY24, down 19.89% YoY from ₹41.13 crore in Q4FY23. Annual PAT saw a growth of 5.72%, reaching ₹75.78 crore in FY24.

Sensex Today Live : L&T today announced that its Buildings & Factories (B&F) business has won multiple orders worth ₹1,000 crore to ₹2,500 crore.

The Health Business Unit has secured an order from the Institute of Neurosciences Kolkata to construct a medical college and hospital campus at Rajarhat, Kolkata on a Design & Build Mode. This involves a 605-bed hospital, a medical college with 150-students annual intake capacity, hostels for students, interns, nurses and residents. The total built up area is 1.21 mn sq ft, the compay said in an exchange filing.

The project is to be executed in two phases over a period of 60 months. The scope of work involves civil structure, finishes, MEP, paramedical and external development works including landscaping, the company added.

Sensex Today Live : Indian benchmark indices were trading up on Friday, driven higher by a raft of positive Q4 earning reports from companies on Thursday.

At 11 am, Sensex was up 259.84 points, or 0.35%, at 73,923.56, and Nifty was down 54.15 points, or 0.24%, at 22,458.

Sensex Today Live : Glenmark Pharmaceuticals today announced that it has received final approval from the US FDA for Brimonidine Tartrate and Timolol Maleate Ophthalmic Solution, 0.2%|0.5%.

Glenmark’s Brimonidine Tartrate and Timolol Maleate Ophthalmic Solution, 0.2%|0.5% has been determined by the FDA to be bioequivalent and therapeutically equivalent to Combigan Ophthalmic Solution, 0.2%|0.5%, of AbbVie, Inc., and will be distributed in the U.S. by Glenmark Pharmaceuticals Inc., USA, the company said in an exchange filing.

According to IQVIATM sales data for the 12-month period ending March 2024, the Combigan® Ophthalmic Solution, 0.2%|0.5% market achieved annual sales of approximately $290.0 million*.

Sensex Today Live : Zydus Lifesciences today announced that its wholly owned subsidiary, Zydus Lifesciences Global FZE has entered into an exclusive licensing and supply agreement with MSN Laboratories for Cabozantinib Tablets (a generic version of CABOMETYX) for the US market.

As per the terms of the agreement, MSN Laboratories will be in charge of manufacturing and supplying the generic version of CABOMETYX, following the receipt of regulatory approval. Zydus will exclusively market, distribute, and sell the Product in the US market, the company said in an exchange filing.

MSN was a first sole ANDA applicant for Cabozantinib Tablets, to submit a substantially complete ANDA with a paragraph IV certification and therefore may be eligible for 180 days of generic drug exclusivity for the generic version of CABOMETYX®.

Cabozantinib is used to treat a certain type of thyroid cancer.

Sensex Today Live : BEML Limited announced to day that it has bagged an order from Northern Coal Fields worth ₹250 crore, to supply dump trucks to the company.

Sensex Today Live : Indian benchmark indices were mixed and muted on Friday, following weak cues from Asian peers.

At 10 am, Sensex was up 16.99 points, or 0.02%, at 73,680.71, and Nifty was down 4.45 points, or 0.02%, at 22,399.40.

Sensex Today Live : While the Consumer Durables and Auto indices were the top sectoral gainers, Bank, Financial Services, FMCG, IT, Pharma, and Healthcare were trading in the red.

Sensex Today Live : The broader market indices were in the green, with the BSE SmallCap gaining 0.65% and the BSE MidCap climbing 0.60%. 

Sensex Today Live : 13 of the 50 stocks on the Nifty 50 were in the green. Mahindra & Mahindra, Grasim Industries, Tata Motors, ONGC, and UltraTech Cement Co, were the top gainers, while Adani Ports & SEZ, SBI Life, Britannia Industries, Cipla, and Infosys, were the top drags. 

Sensex Today Live : Only seven stocks, Mahindra & Mahindra, Tata Motors, Tata Steel, UltraTech Cement Co, SBI, Bharti Airtel, and Kotak Mahindra Bank, out of the 30 on the BSE Sensex were trading in the green, while IndusInd Bank, Nestle India, Infosys, Axis Bank, and Larsen & Toubro, were the top drags. 

Sensex Today Live : The company’s net profit rose by 37% to ₹76.2 crore YoY, and revenue increased by 24% to ₹458 crore. The board recommended a dividend of ₹1.3 per share.

Sensex Today Live : The company has won the arbitration case against ITI Ltd, concerning the recovery of dues related to the commissioning of telecom networks for BSNL and MTNL. The final arbitration award brings relief in the form of a monetary award amounting to approximately ₹150 crore. The counterclaims worth ₹111 crore filed by ITI against HCL Infosystems have been disallowed as part of the arbitration award.

Sensex Today Live : The company’s March quarter profit jumped 5.5% to ₹315.1 crore from the year-ago period, aided by volume growth and increased market share. Revenue rose 6.4% YoY to ₹2,325.1 crore, due to an 11.24% YoY growth in total volumes in the quarter under review.

Sensex Today Live : The company has entered into a Memorandum of Understanding (MOU) with Acerpure for manufacturing consumer appliance products. The company will undertake the manufacturing of Acerpure products in its facilities starting with TVs, subject to signing of definitive agreements.

Sensex Today Live : The company reported a 1.7% YoY dip in net profit at ₹275.6 crore for the fourth quarter that ended March 31, 2024. The company’s revenue from operations remained unchanged at ₹1,719 crore. The board of directors has recommended a final dividend of ₹5 per share (50%), on the equity share capital for the financial year ended March 31, 2024.

Sensex Today Live : The company’s net profit rose by 54% to ₹210 crore YoY, and revenue increased by 20.1% to ₹2,685 crore.

Sensex Today Live : The company’s net profit rose by 97% to ₹81.3 crore YoY, and revenue increased by 75% to ₹637.3 crore.

Sensex Today Live : The company’s net profit fell by 1.5% to ₹130.5 crore YoY, while revenue rose by 10.6% to ₹766.5 crore.

Sensex Today Live : The company’s net profit rose by 1.4% to ₹133.43 crore YoY, and revenue increased by 9.5% to ₹1,961 crore. The board recommended a dividend of ₹3 per share.

Sensex Today Live : M&M reported a 31.6% YoY increase in net profit to ₹2,038.21 crore in Q4FY24. Revenue from operations rose by 11.24% to ₹25,108.97 crore. The company’s EBITDA increased by 12% to ₹3,119 crore, while the EBITDA margin remained at 12.4%. The board recommended a dividend of ₹21.10 per share, and approved an investment of ₹12,000 crore in its EV unit, Mahindra Electric Automobile Ltd (MEAL).

Sensex Today Live : Indian benchmark indices were down at open on Friday, following muted cues from Asian peers.

At opening bell, Sensex was down 76.87 points, or 0.10%, at 73,586.85, and Nifty was up 22.20 points, or 0.1%, at 22,381.65.

Sensex Today Live : Indian benchmark indices were muted at pre-open on Friday, following muted cues from Asian peers.

Sensex was up 47.59 points, or 0.06%, at 73,711.31 and Nifty was down 11.40 points, or 0.05%, at 22,415.25 during pre-open.

Sensex Today Live : “The Dow Jones Industrial Average has hit 40,000 for the first time, buoyed by optimism from a softer-than-expected April inflation report, which has increased bets on a September rate cut by the Federal Reserve. This positive sentiment extends to Indian markets, with the Nifty likely trading between 22,000-22,500, facing resistance at 22,500 and support at 22,000. Key stock picks include TVS Motors, Indian Hotels, IRCTC, and Coal India. Notably, Balrampur Chinni is recommended for buying at CMP 379, targeting 395/403 with aggressive targets at 419 due to its oversold status. Corporate results from major companies like JSW Steel and Pfizer are also expected today.”

–Prashanth Tapse, Senior VP (Research), Mehta Equities

Sensex Today Live : The outcome of the Lok Sabha elections has led to contrasting positions on Nifty derivatives contracts between optimistic domestic investors and cautious foreign investors. Retail and high net-worth investors, referred to as ‘clients’ by NSE, are bullish on Nifty futures contracts, anticipating a significant victory for the ruling NDA coalition. This bullish stance is reflected in their net positions, which have reached their highest level since November 2. (Read the full story here.)

Sensex Today Live : The Indian stock market indices, Sensex and Nifty 50, are projected to begin cautiously on Friday due to weak global market trends. The Gift Nifty trends suggest a neutral-to-positive start for the Indian benchmark index, trading around the 22,480 level, nearly 20 points higher than the previous close of Nifty futures.

On Thursday, both the Sensex and Nifty 50 closed almost a percent higher, driven by late buying across sectors despite mixed global cues. The Sensex rose by 676.69 points (0.93%) to close at 73,663.72, while the Nifty 50 increased by 203.30 points (0.92%) to settle at 22,403.85.

The Nifty 50 chart showed a small bullish candle with a long lower shadow, a pattern often seen as a continuation of an uptrend. According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, the formation of long lower shadows in two of the last four sessions indicates strong buying on dips, suggesting potential further gains. (Read the full story here.)

Sensex Today Live : Domestic equity markets are anticipated to start cautiously on Friday, mirroring a downward trend in global markets. Asian markets experienced a decline, and the US market closed in negative territory following the release of weekly unemployment figures. Despite crossing the 40,000-mark during the day, the Dow Jones later retreated.

On Thursday, Indian market indices closed nearly a percent higher due to late buying across sectors, despite mixed signals from global markets. The Sensex rose by 676.69 points (0.93%) to close at 73,663.72, while the Nifty 50 increased by 203.30 points (0.92%) to settle at 22,403.85.

Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd, attributed the rebound in domestic equities to positive global cues and short covering on Nifty’s weekly expiry. He anticipates a slow recovery in the markets. However, he also expressed concerns about persistent FII selling, India VIX remaining above 20 levels, and the potential volatility due to the ongoing general elections. (Read the full story here.)

Sensex Today Live : Indian benchmark indices were likely to start on a muted to positive note with global markets trying to figure out when the US Federal Reserve might announce interest rate cuts.

Despite the subdued sentiment in most Asian markets, Gift nifty futures, at 8:17 am, were trading at 22,475, around 175 points higher than Nifty 50’s Thursday close of 22,403, signaling the upside strength of Indian markets.

Asian stocks inched lower on Friday as traders pondered the near term U.S. monetary policy path after Federal Reserve officials suggested that interest rates may need to stay higher for longer even as inflation shows early signs of easing.

Data on Wednesday showed cooling U.S. consumer price inflation, prompting markets to swiftly price in at least two rate cuts this year but the excitement soon fizzled out as the latest report showed the labour market remains tight, while central bankers were still cautious about inflation.

Traders are pricing in 47 basis points of easing this year from the Fed, with a rate cut in November fully priced in.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.14% after touching a two-year high on Thursday. The index was still set for an increase of 2.6% this week for its fourth straight week of gains.

Japan’s Nikkei fell 0.48%, while China stocks grinded higher, with the blue chip gauge gaining 0.15% in early trading.

Hong Kong’s Hang Seng Index was the bright spot for Asia, rising 0.77% and touching its highest since August 2023.

“Following the incremental softening of the U.S. data, this is probably as far as the risk rally can go in the absence of tier-1 data over the coming week,” said Nicholas Chia, Asia macro strategist at Standard Chartered.

While the data this week offered the Fed good news on two fronts, policymakers haven’t openly shifted views yet about the timing of rate cuts investors are convinced will start this year.

Monetary policy is “restrictive” and “is in a good place,” Federal Reserve Bank of New York President John Williams said. “I don’t see any indicators now telling me … there’s a reason to change the stance of monetary policy now.”

Data on Thursday showed the number of Americans filing new claims for jobless benefits fell last week, indicating that labour market conditions remain fairly tight even as job growth is cooling.

Overnight, the Dow rose as high as 40,051.05 while the S&P 500 and Nasdaq also hit record highs before gradually losing steam and finishing slightly lower on the day. [.N]

In the currency markets, the dollar headed for its largest weekly fall versus the euro in 2/1-2 months. The euro is up roughly 1% against the dollar and was last at $1.08595. [FRX/]

The yen weakened 0.23% to 155.80 per dollar in early trading, giving back some of the gains it made after the mild U.S. CPI report earlier in the week.

The Japanese currency has fallen around 9.5% this year as the Bank of Japan has kept monetary policy loose while higher U.S. interest rates have drawn money towards U.S. bonds and the dollar.

Tokyo is suspected to have intervened on at least two days in late April and early May to support the yen after it tumbled to lows last seen more than three decades ago.

The yen has been particularly sensitive to any widening of the interest rate differential.

“While the weaker U.S. data should benefit low-yielders like the yen, the recent price action suggests the Japanese authorities may have more to do beyond verbal jawboning if they intend to keep speculators at bay,” Standard Chartered’s Chia said.

“Paring back bond purchases and further rate hikes in the second half of 2024 may be inevitable if the authorities are serious about pushing the dollar-yen pair lower.”

The BOJ on Friday kept the amounts unchanged at a regular bond buying operation, after unexpectedly reducing purchases of bonds with 5-10 years left to maturity at the start of the week.

In commodities, oil prices rose in Asian trading hours, with global benchmark Brent set for its first weekly increase in three weeks on signs of improving global demand and slowing inflation in top oil consumer the United States.

U.S. crude was little changed at $79.18 a barrel and Brent was 0.1% higher at 83.35 per barrel.

Gold prices were last at $2,377.25 per ounce.