Equity benchmark indices settled on a weaker note on Friday amid selling across the sectors due to weak global cues and profit booking at higher levels. The BSE Sensex fell 793.25 points or 1.06 percent to close at 74,244.90. The NSE Nifty50 was down 234.40 points or 1.03 percent to settle at 22,519.40. BSE Midcap and Smallcap indices fell 0.5 per cent each. All sectors including midcap and smallcap ended in red with Oil & Gas, PSU Bank, and Pharma being major losers.
“Markets on Wednesday touched a new scale, with Nifty touching 22,775 levels. However, uncertainty over the US Fed rate cut timing and concerns about rising tensions between Iran and Israel led to a decline in global markets. The rise in bond yields due to hotter-than-expected US inflation and amendment in the India-Mauritius tax treaty likely to impact FII flow dampened the sentiments. We expect markets to remain volatile in the near term given the global concerns and the start of an election next week, said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
“With the onset of the earning season, the focus will shift more toward domestic cues along with macro data points. Markets on Monday will react to India’s inflation data and TCS Q4 numbers which will be released today,” he added.
Over the weekend, Iran attacked Israel with more than 300 drones and missiles and the former’s proxies launched attacks on Israeli positions. Iran said its attack on Israel was in response to a strike on its consular building in Syria. The escalating turmoil in the Middle East is expected to spark volatility in global markets.
Here Are The Key Stocks To Watch On 15 April:
1) TCS
Tata Consultancy Services (TCS) on Friday announced a robust 9.3 per cent YoY jump in March quarter profit at Rs 12,502 crore compared to Rs 11,436 crore in the year-ago period. The company reported revenue growth of Rs 3.5 per cent YoY to Rs 61,237 crore as against Rs 59,162 crore.
2) Anand Rathi Wealth
The wealth management company reported a consolidated net profit of Rs 57 crore for the March 2024 quarter, an increase of 33 per cent compared to Rs 42.7 crore in the same quarter of FY23. Revenue from operations jumped 34 per cent to Rs 197.2 crore in March quarter compared to Rs 147.1 crore in the year-ago period.
3) Wipro
The IT major diluted its stake in FPEL Ujwal Private Limited to 7.07 per cent from 9.95 per cent. In September last year, the company signed a definitive agreement to subscribe for the equity share capital FPEL Ujwal for a value of Rs 6.3 crore. The transaction was expected to be completed before 31 May 2024.
4) Aster DM Healthcare
The company’s board has approved a special dividend of Rs 118 per equity share post receipt of proceeds from the sales of its GCC business. The special dividend will be payable to those shareholders whose names stand on the register of company members as of April 23- the record date set for the dividend. The dividend will be paid within 30 days.
5) Granules India
The company announced that its unit V facility located at Anakapally, Visakhapatnam, Andhra Pradesh, India, underwent an inspection from the United States Food and Drug Administration (US FDA) from 8 April 2024 to 12 April 2024. The inspection concluded in 'zero' 483 observations. The unit manufactures APIs and formulations for oncology and non-oncology products.
4) Aster DM Healthcare
The company’s board has approved a special dividend of Rs 118 per equity share post receipt of proceeds from the sales of its GCC business. The special dividend will be payable to those shareholders whose names stand on the register of company members as of April 23- the record date set for the dividend. The dividend will be paid within 30 days.
5) Granules India
The company announced that its unit V facility located at Anakapally, Visakhapatnam, Andhra Pradesh, India, underwent an inspection from the United States Food and Drug Administration (US FDA) from 8 April 2024 to 12 April 2024. The inspection concluded in 'zero' 483 observations. The unit manufactures APIs and formulations for oncology and non-oncology products.
