The Indian equity market is likely to open lower today as SGX Nifty fell 214 points lower at 17,193. Market closed higher for the second consecutive session on Thursday led by gains in Reliance Industries, Infosys and HDFC twins amid a mixed trend in global markets.
Sensex zoomed 874.18 points or 1.53 per cent to end at 57,911.68 and Nifty rallied 256.05 points or 1.49 per cent to 17,392.60.
M&M, Maruti, Bajaj Finserv, Asian Paints, Reliance Industries, Kotak Mahindra Bank, HDFC, TCS, Sun Pharma, Infosys and IndusInd Bank were the top Sensex gainers, rising up to 3.50 per cent.
Here's a look at stocks that are likely to remain in news today.
Reliance Industries: The stock on Thursday hit all-time high of Rs 2,788.80. It closed 2.35 percent higher at Rs 2,782 against the previous close of Rs 2718.40. Additionally, Reliance Retail on Thursday said it will launch a dedicated artisan-only store format 'Swadesh', which will showcase agriculture & food products, handlooms, clothing, textiles, handicraft and handmade natural products. This will boost its "handmade in India" programme and provide a global platform for artisans and sellers of handcrafted products, said a statement by Reliance Retail. The first Swadesh store is expected to open in the second half of 2022, it said.
HCL Tech: The IT firm reported a jump of 226 per cent year-on-year in its consolidated net profit at Rs 3,593 crore for the quarter ended 31 March, 2022 mostly on strong booking performance and growth across verticals. The company had posted a net profit of Rs 1,102 crore in the year-ago period. Sequentially, the company's net profit saw a growth of 4.3 per cent in Q4FY22 from Rs 3,442 crore in the previous December quarter (Q3FY22).
Tata Communications: Q4FY22 profit rose 23.3 percent YoY; revenue climbed 4.6 percent to Rs 4,263 crore in same period driven by data services segment, which contributed the most to revenue. The board has recommended a dividend of Rs 20.7 per share for the year, as a result of the company reporting strong profitability.
CRISIL: Profit for the quarter ended March 2022 rose 45.6 percent YoY to Rs 121.6 crore on strong revenue growth. Income from operations grew 20.1 percent to Rs 595 crore YoY. The board approved the payment of interim dividend of Rs 7 per share for the financial year ending March 2022.
ICICI Lombard General Insurance Company: The company reported a 9.6 percent year-on-year fall in profit at Rs 312.5 crore. Net premium earned during the quarter rose 27 percent to Rs 3,318 crore. Total income rose 33 percent to Rs 4,636 crore from a year ago.
TVS Motor Company: The firm announced an additional investment of 100 million pound in Norton Motorcycle, Britain's most iconic sporting motorcycle brand. Norton Motorcycle was acquired in April 2020.
L&T Technology Services: The IT company reported a 5.3 percent sequential rise in profit at Rs 262 crore. Revenue climbed 4.1 percent to Rs 1,756.1 crore compared to the previous quarter.
Windlas Biotech: ICICI Prudential MF bought 32,871 shares in the company via open market transactions on April 19. With this, its shareholding in the company has increased to 7.26 percent from 7.11 percent earlier.
Cyient: The company recorded a 17 percent sequential growth in profit at Rs 154.20 crore for the quarter ended March 2022 driven by higher other income. However, revenue fell 0.2 percent QoQ to Rs 1,181.20 crore.
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