Sensex declined by 455 points to 72,488 and Nifty fell 152 points to 21,995 in trade today on April 18. Nifty Bank fell 415 points to 47,069 and Nifty Midcap dived by 240 points to 48,995. FMCG stocks along with Oil & Gas sector stocks witnessed decline in trade today. Shares of Mastek gained 20% after bagging £1.2-billion UK digital and IT services supply order.
Shares of Mastek gained 20% after bagging £1.2-billion UK digital and IT services supply order.
Q4 Results Today
Ahead of their quarterly earnings on April 18, investors will be focusing on Infosys, Bajaj Auto, HDFC Life Insurance Company, ICICI Securities, Mastek, Network18 Media & Investments, TV18 Broadcast, Eimco Elecon (India), Gujarat Hotels, Accelya Solutions India, Oriental Hotels, Reliance Industrial Infrastructure, Surana Solar, and Swaraj Engines.
FIIs and DIIs
According to preliminary data from the NSE, on April 16, domestic institutional investors (DIIs) bought equities worth Rs 2,040.38 crore while foreign institutional investors (FIIs) net sold shares worth Rs 4,468.09 crore.
OIL
With a plethora of contradictory signals ranging from growing stocks to Middle East tensions and the reinstatement of US sanctions on Venezuelan crude, oil had its biggest drop in two months.
Following a 3% decline on Wednesday, the global benchmark Brent fell below $88 per barrel, while West Texas Intermediate was close to $83. While fuel demand indicators fell, US crude stocks increased by 2.7 million barrels last week, reaching their biggest level since late June.
Asian Market
After US equities continued to fall for the longest period of time since January, Asian stocks opened mixed.
From the opening of trading, South Korean and Australian stocks increased while Japanese stocks declined. Hong Kong equity futures show early losses, but Chinese counterparts show gains. After the S&P 500 sank for a fourth day on Wednesday, bringing losses from last week's record high to more than 4%, US futures saw little change.
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Apr 18, 2024, 2:49 pm IST
Mastek Rallies 20% After Winning £1.2-billion UK digital & IT Services Supply Order
Mastek shares jumped 20% in noon trade today after the company was named a supplier in the British defence ministry's £1.2-billion digital and IT professional services framework. The robust rally in Mastek also helped it record its biggest single-day gain since May 2021.
The project of the budget will be spread across a period of 4-years. Mastek will be required to provide solution, enterprise and tech architecture, data, innovation, tech assurance and knowledge and information management for the UK Ministry of Defence's digital and professional services framework.
Apr 18, 2024, 2:38 pm IST
Gold Prices India, April 18: After Huge Rally, 24K Of 100 Grams Yellow Metal Falls By Rs 3300
Gold price in India today witnessed a decline after 2-days of consecutive rally and hitting new records. The price of 24K yellow metal per 100 grams declined by Rs 3300 to Rs 7,38,000 and 22K gold price per 100 grams fell by Rs 3000 to Rs 6,76,500 in the country. The price of 10 grams of 22 carat gold price India today is Rs 67,650 after the fall by Rs 300 and the cost of 24 carat yellow metal India slipped by Rs 330 to 73,800. Price of 10 grams of 18 carat yellow metal in India today is Rs 55,350 after the dip by Rs 240 while cost of 100 grams of 18K gold dived by Rs 2400 to Rs 5,53, 500.
Earlier last week, gold prices hit all records when prices soared to new highs after Iran launched attack against Israel. However, fears of further escalation subsided as Israel did not opt to retaliate against Iran’s strikes. Pressure from the dollar eased a little this week as the greenback retreated from more than 5-month highs on Wednesday. The likelihood of higher-for-longer interest rates allowed gold seek slight gain of this weakness. Robut inflation data and aggressive signals from the US Fed Reserve saw traders mostly price out expectations for a June rate cut by the central bank.
Apr 18, 2024, 2:37 pm IST
Gold Prices Bangalore, April 18: Yellow Metal Prices Fall After 2-Consecutive Days Rally
Gold prices Bangalore witnessed decline today after 2 days of back-to-back gain. The price of 22K yellow metal in Bangalore today is Rs 67,650/10 grams after the fall by Rs 300 while the price of 24K gold in Bangalore on April 19, 2024 is Rs 73,800/10 grams. Meanwhile, if you are thinking of buying 100 grams of 22K yellow metal in Bangalore today, you have to pay Rs 6,76,500 after the dip by Rs 3000. 24K of 100 grams yellow metal in Bangalore today is retailing at Rs 7,38,000 after the fall by Rs 3300.
Apr 18, 2024, 1:52 pm IST
Hubtown Shares In Focus
Out of the 700 NCDs that the firm issued on January 25, 2024, the Board of Directors of the company has authorised the allocation of 20 NCDs with a face value and issue price of Rs. 10,00,000/- each to the appropriate allottee(s).
Apr 18, 2024, 1:38 pm IST
Bharti Airtel Marks 7.9 Million 5G Customers In Andhra Pradesh
Bharti Airtel today announced that it has reached a 7.9 million customer base using 5G service in the state of Andhra Pradesh. The company has effectively rolled out 5G service in all of Andhra Pradesh's cities and districts, signalling a positive change in the direction of providing next-generation mobile connectivity. In the last six months, Airtel has seen a notable rise in 5G customers in Andhra Pradesh.
Apr 18, 2024, 1:10 pm IST
Moneyboxx AUM Surpasses Rs 720 Cr In FY24
An NBFC listed on the BSE, Moneyboxx Finance Limited, said that its AUM more than doubled in FY24, reaching Rs 720 crore as of March 24. With the support of its established business strategy, enormous market potential, expanding financing collaborations, and planned capital raising, Moneyboxx plans to almost double its AUM to Rs 1,400 crore by March 25. With 100 branches already operating in eight states in north, central, and west India, the company aims to dramatically increase its footprint and penetrate south India by FY25.
Apr 18, 2024, 12:52 pm IST
Mastek Shares In Focus
Mastek today announced that it has been granted a spot on the UK Ministry of Defence's (MOD) Digital and IT Professional Services (DIPS) framework's Lot 1: Solution, Enterprise & Tech Architecture, Data, Innovation, Tech Assurance, and Knowledge & Information Management. In Lot 2 (Dev, Aps, UX, Dev Ops, Sys Design, and App Support) and Lot 3 (Cyber Security, Crypto, Sec Ops, and Integrated Systems), Mastek will furthermore serve as a subcontractor for Qinetiq Limited.
Apr 18, 2024, 12:23 pm IST
Star Housing Finance Shares In Focus
Star Housing Finance Limited (Star HFL), announced that it has received Rs. 25 crs term loan sanction from LIC Housing Finance today. “The funds shall be deployed for onward lending in its operational geographies to enable credit access for prospective EWS/LIG (Economically Weaker Section/Low Income Group) home buyers. This credit line will be utilized to expand retail lending activities within Star HFL's operational areas through its branch offices and Points of Presence, thereby enhancing its liability program, supporting asset growth, and facilitating homeownership for aspiring borrowers,” said Star Housing Finance in a stock exchange filing.
Apr 18, 2024, 11:59 am IST
Dialog, Axiata Group Berhad And Bharti Airtel, Signed a Definitive Agreement to Combine Their Operations in Sri Lanka
Dialog Axiata PLC (“Dialog”), Axiata Group Berhad (“Axiata”) and Bharti Airtel Limited, signed a Definitive Agreement to combine their operations in
Sri Lanka under this agreement, Dialog will acquire 100% of the issued shares in Airtel Lanka, in
consideration of which Dialog will issue to Bharti Airtel, ordinary voting shares which will amount to
10.355% of the total issued shares of Dialog by way of a share swap. The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted its approval for the
proposed merger, underscoring its vision to advance the adoption of telecommunications services across
Sri Lanka. Mr. Vivek Sood, Group CEO and Managing Director of Axiata Group Berhad said, "The merger between Dialog
and Airtel Lanka is aligned to Axiata’s strategy of market consolidation and resilience. The merger will
create value for Shareholders of Dialog Axiata PLC and of Axiata Group through achievable synergies. We
have the utmost respect for Airtel Lanka and its employees and look forward to working together as we
integrate the two companies”.
Apr 18, 2024, 11:40 am IST
Sterling Tools Signs MoU With South Korea’s Yongin For EV Components Facility
Sterling Tools Limited, the second largest automotive
fastener manufacturer and, through its subsidiary, the leading manufacturer of Motor Control Units (MCUs)
in India, has signed a Memorandum of Understanding (MoU) with South Korea’s, Yongin Electronics Co., Ltd,
a major supplier of components to the Hyundai Kia Motor Group.
This strategic agreement, expected to generate Rs. 250 crore in business over the next 5 years, marks a
crucial step in advancing the production of electric vehicle (EV) and electronic components within India. To
accelerate the production capacity, Sterling Tools Limited will set up a new greenfield manufacturing facility
in the country. K. H. Kim, CEO from Yongin Electronics Co., Ltd said, "We recognize the significant potential within the Indian
EV market. It brings us great pleasure to announce our partnership with Sterling through the signing of an
MOU. We are prepared to embark on a journey of mutual growth and collaboration within the Indian EV
industry, contributing positively to its advancement.”
Apr 18, 2024, 11:22 am IST
India Gold Rates Today On 18th April Tumbles A Little With Falling International Demand
The 24-carat gold prices in India today are Rs. 73,800/- and Rs. 67,650/- for 10 grams of 22-carat gold. The yellow metal prices today have tumbled for both pure gold and standard gold by Rs. 330/- and Rs. 300/- per 10 grams respectively. Likewise, 18-carat gold rate in India today have fallen since previous day by Rs. 240/- to reach Rs. 55,350/- per 10 grams. International spot gold prices are currently trading at $ 2,375.6/- per ounce, while the MCX Gold Futures maturing in June this year, are today floating around Rs. 72,552/-.
Rajoo Engineers Ltd. Announces Results For The Fourth Quarter Year Ended 31st March 2024
Revenue from operations for Rajoo Engineers Ltd. for the year ended was Rs. 197.35 crore in FY24, as against Rs. 159.79 crore in FY23, a YoY increase of 23.51%
Revenue from operations for the quarter was Rs. 52.68 crore in Q4 FY24, as against Rs 71.43
crore in Q4 FY23, a YoY decrease of 26.26%. EBITDA (excluding Other Income) was at Rs. 8.96 crore in Q4 FY24 as against Rs. 6.47 crore in
Q4 FY23, an increase of 38.45% YoY. EBITDA Margin was 17.02% against 9.06%, a YoY increase of 796 bps. Profit after Tax stood at Rs. 7.08 crore in Q4 FY24 compared to Rs. 5.39 crore in Q4 FY23, a YoY
increase of 31.35%. PAT Margin was 13.45% against 7.55%, with a YoY increase of 590 bps.
Apr 18, 2024, 10:38 am IST
Fortis Malar Hospitals For Open Offer By Northern TK Venture & Associates Companies
Northern TK Venture Pte. Ltd. (“Acquirer”) together with IHH Healthcare Berhad and Parkway Pantai Limited, in their capacity as the persons acting
in concert with the Acquirer, have made an open offer to the Public Shareholders of the Target Company
to acquire up to 4,894,308 fully paid-up equity shares of face value of INR 10 each
representing 26.0% of the Voting Share Capital of the Target Company, in accordance
with Regulations. The Open Offer was made at an Offer Price of INR 60.1 per Equity Share. The Target Company has
declared an interim dividend of INR 40 per Equity Share to its shareholders and made a stock exchange
announcement dated April 12, 2024, in this regard. The Acquirer and the PACs have decided to adjust the
Offer Price from INR 60.1 per Equity Share to INR 20.1 per Equity Share.
Apr 18, 2024, 10:23 am IST
Top 5 Gainers and Losers Today
Stock Market Live Updates
Apr 18, 2024, 10:20 am IST
Rupee falls by 0.08 paise against US dollar in morning trade
Indian rupee witnessed marginal fall of 0.08 paise against US dollar in morning trade on Thursday.
Apr 18, 2024, 9:26 am IST
Angel One makes Rs 340 crore in Q4 profit, up 27% year over year.
Despite a decline in operating margin, Angel One's consolidated net profit for the quarter ended in March of FY24 increased by 27.3% year over year to Rs 340 crore. During the quarter, revenue from operations increased by 64.4% YoY to Rs 1,357.3 crore.
Apr 18, 2024, 9:24 am IST
Just Dial Says its Q4 Net Profit Increased by 38%
Revenue increased 16.3% to Rs 270.3 crore from Rs 232.5 crore YoY, and net profit increased 38% to Rs 115.6 crore from Rs 83.8 crore.
Apr 18, 2024, 9:23 am IST
Brigade Enterprises Q4
Brigade Enterprises has reported pre-sales of Rs 2,243 crore in Q4 FY24 and Rs 6,013 crore in FY24, the largest amount ever for both a financial year and a quarter.
The average realisation for FY24 increased by 23% over FY23, while real estate sales volumes of 7.55 million square feet in FY24 and 2.72 million square feet in Q4 FY24 were also reported.
Revenues for the Group in FY24 increased from Rs 5,424 crore in FY23 to Rs 5,915 crore.
Leases under the operational leasing portfolio increased by 14% YoY over FY23, leasing 1 million square feet more, and the portfolio as a whole reached 97% occupancy.
Apr 18, 2024, 8:19 am IST
Max Financial authorises Axis Bank to receive 14.25 crore Max Life shares
On April 17, 2024, the Max Life share allotment committee approved the preferential allotment of 14,25,79,161 fully paid-up equity shares to Axis Bank, for a total investment up to Rs 1611,99,99,943.
Max Financial's stake in Max Life has decreased to 80.98% of the company's total paid-up capital as a result of Max Life's allocation to Axis Bank.
Apr 18, 2024, 8:13 am IST
Dollar
On Thursday, the dollar experienced weakness as investors evaluated the outlook for interest rates in the United States following remarks made by Federal Reserve officials that reinforced the belief that the monetary policy would stay tight for some time to come.
A string of solid U.S. economic data and ongoing inflation have dampened expectations of rate decreases in the foreseeable future, which has resulted in the dollar strengthening in recent weeks. The dollar's attractiveness as a secure asset was further enhanced by the Middle East's simmering tensions.
With traders consolidating positions, the dollar index, which compares the value of the US dollar to six other currencies, was barely moving from its five-and-a-half-month high of 106.51 on Tuesday. It was last at 105.97. This year, the index is up 4.5%.
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