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EQUITY - MARKET SCREENER

Sensex soars 1340 points; Nifty ends above 16,250
17-May-22   15:54 Hrs IST
Benchmark indices ended at day's high with strong gains amid broad based buying on Tuesday. The Nifty ended above 16,250 level. All the sectoral indices on the NSE ended in the green with metal, oil & gas and media stocks rising the most.

As per provisional closing basis, the barometer index, S&P BSE Sensex jumped 1344.63 points or 2.54% at 54,318.47. The Nifty 50 index gained 417 points or 2.63% at 16,259.30.

The broader market witnessed broad based buying. The S&P BSE Mid-Cap index rose 2.51% while the S&P BSE Small-Cap index advanced 2.78%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 2,624 shares rose while 713 shares fell. A total of 125 shares were unchanged.

In two trading sessions, the Sensex and the Nifty have rallied almost 3%.

Economy:

India's inflation based on wholesale price index (WPI) stood at 15.08% in April 2022 compared with 10.74% in April 2021. The high rate of inflation in April, 2022 was primarily due to rise in prices of mineral oils, basic metals, crude petroleum & natural gas, food articles, non-food articles, food products and chemicals & chemical products etc. as compared to the corresponding month of the previous year, the Ministry of Commerce & Industry said in a statement today. The WPI grew 14.55% in March 2021, while the figure for February was 13.11%.

New Listing:

Shares of insurance major Life Insurance Corporation (LIC) of India closed at Rs 875.45 on the BSE, at a discount of 7.75% compared with the issue price of Rs 949. The scrip was listed at Rs 867.20, representing a discount of 8.62% to the initial public offer (IPO) price. The scrip has hit a high of Rs 920 and a low of Rs 860.10. Over 14.10 crore shares of the company have changed hands in the counter till now on BSE.

The IPO of the insurance major was subscribed 2.95 times. The issue opened on 4 May 2022 and it closed on 9 May 2022. The IPO price band was Rs 902 to Rs 949 per equity share.

Earnings Impact:

Bajaj Electricals surged 8.24% to Rs 988.85. The company reported 28.7% fall in consolidated net profit to Rs 39 crore despite a 6% rise in net sales to Rs 1,293.26 crore in Q4 FY22 over Q4 FY21. On the segmental front, Consumer Products revenue was Rs 1,038 crore (up 6.4% YoY) while EPC revenue stood at Rs 296.5 crore (up 4.7% YoY) in the fourth quarter of financial year ended 2022.

Indoco Remedies jumped 6.35% to Rs 352.65 after the company reported 62.1% rise in standalone net profit to Rs 40.4 crore on a 35.8% increase in net revenues to Rs 400.3 crore in Q4 FY22 over Q4 FY21. EBIDTA improved by 47.5% to Rs 80.5 crore in Q4 FY22 from Rs 54.6 crore in Q4 FY21. EBIDTA margin was 20.1% in the fourth quarter as against 18.5% in the same period last year.

Zydus Wellness rose 4.45% to Rs 1672.55 after the company reported 0.13% rise in consolidated net profit to Rs 133.30 crore on 5.73% increase in net sales to Rs 635.19 crore in Q4 FY22 over Q4 FY21. Profit before tax stood at Rs 131.40 crore in the fourth quarter, down by 0.95% from Rs 132.66 crore during the period under review.

Dodla Dairy jumped 5.36% to Rs 508.75 after the company's consolidated net profit zoomed to Rs 40.5 crore in Q4 FY22 from Rs 9.6 crore in Q4 FY21. Operating revenues increased by 11% to Rs 589.7 crore in Q4 FY22 over Q4 FY21. Dodla Dairy said that average milk procurement during Q4 FY22 was at 12.3 lakhs liters per day (LLPD) compared to 10.8 LLPD in Q4 FY21 and 12.4 LLPD in Q3 FY22.

Raymond advanced 4.60% to Rs 851 after the company's consolidated net profit zoomed to Rs 263 crore in Q4 FY22 from Rs 56 crore in Q4 FY21. Net revenue increased by 44% YoY to Rs 2,032 crore during the quarter. EBITDA margin rose by 82% to Rs 358 crore in Q4 FY22 from Rs 197 crore in Q4 FY21. EBITDA margin in Q4 FY22 was 17.6% as against 14% in Q4 FY21.

Multi Commodity Exchange of India (MCX) rose 2.88% to Rs 1211.55. The exchange platform reported 5% decline in consolidated net profit to Rs 36.53 crore on 9.8% increase in net sales to Rs 106.46 crore in Q4 March 2022 over Q4 March 2021. For the quarter ended 31 March 2022, MCX's operating income grew 10% to Rs 106.46 crore from Rs 96.97 crore in corresponding Q4 FY2021.

VIP Industries rose 1.24% to Rs 595.70 after the company reported consolidated net profit of Rs 12.39 crore in Q4 FY22 compared with net loss of Rs 3.78 crore in Q4 FY21. Net sales stood at Rs 355.90 crore for the quarter ended 31 March 2022 as against Rs 243 crore during the same period in the previous year, registering a growth of 46.5%.

Glaxosmithkline Pharmaceuticals rose 0.11% to Rs 1515.70 after the company reported a consolidated net profit of Rs 1,219.05 crore in Q4 FY22 as against a net profit of Rs 14.33 crore in Q4 FY21. Net sales during the quarter increased 8.9% YoY to Rs 809.63 crore. Profit before tax (PBT) (before exceptional items) from continuing operations for the fourth quarter was Rs 178 crore, recording a growth of 6% YoY.

RateGain Travel Technologies declined 3.88% to Rs 319.45. The IT company reported a consolidated net profit of Rs 11.61 crore in Q4 FY22 as against a net loss of Rs 5.84 crore in Q4 FY21. Revenue from operations rose 8.9% quarter on quarter and 50.6% year on year to Rs 107.88 crore in the quarter ended 31 March 2022. The company reported a profit before tax of Rs 12.35 crore in Q4 FY22 as compared to a pre-tax loss of Rs 2.96 crore posted in Q4 FY21.

Global Markets:

The Dow Jones Futures were up 492 points, indicating a positive start to the US market.

Shares in Europe and Asia advanced on Tuesday as global markets tried to build on some positive momentum seen at the start of the new trading week.

The war in Ukraine remains a key focus for market sentiment in Europe, with fighting raging in the east and southeast of the country. On Monday, news emerged that more than 260 Ukrainian fighters, including some who are badly wounded, were evacuated from the Azovstal steel plant — a last stronghold for Ukrainian forces in the ruined city of Mariupol — and taken to areas under Russia's control, the Ukrainian military said.

With Finland and Sweden both announcing their bids to join the Western military alliance NATO, all eyes are on Russia and how it might react. Moscow has already expressed outrage at the idea of its old foe NATO expanding.

Shanghai reported three days of zero community transmission, a milestone that could lead officials to start unwinding a growth-sapping lockdown.

In the US, the S&P dipped 0.39% on Monday. The Dow Jones Industrial Average saw a similar swing, although the 30-stock index eked out a 0.8% gain at the closing bell. The Nasdaq Composite, meantime, was the session's underperformer as the carnage in tech stocks continued.

Data on Monday showed factory activity in New York state slumped in May for the third time this year amid a collapse in new orders and shipments.

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