Daily Indian Stock Market Update

NIFTY halt two-day winning streak ahead of April derivatives expiry. The 50-share NSE index NIFTY fell 0.41% to finish at 10570.55 on Wednesday. The Indian benchmark index NIFTY snapped their two-day winning streak dragged down by banks and metal stocks ahead of April derivatives expiry. The sentiment at traders and investors’ desk remained weak on negative global cues and unhelpful corporate earnings.

Looking overseas, European markets trading lower tracking Asian markets which finished broadly lower on Wednesday. The global stock markets slid today on profit-taking, as investors worried over rising US Treasury yields and speculation that interest rates will rise four times this year.

Nine out of eleven sector gauges compiled by the NSE ended lower led by NIFTY PSU BANK, NIFTY METAL, NIFTY PHARMA, NIFTY BANK, NIFTY PVT BANK and NIFTY FIN SERVICE as top gainers. On the flip side, NIFTY IT and NIFTY REALTY are only gainers.

From the NIFTY 50 basket of shares, GAIL, VEDL, HINDPETRO, HINDALCO, GRASIM and TATASTEEL underperformed as top losers while BHARTIARTL, TCS, M&M, POWERGRID and HCLTECH are top gainers.

Best shares to watch on Thursday 26 April

BHARTIARTL: This stock strengthened by 3.35% and closed at Rs.419.85. This stock trading volume rose by 300 percent with numerous intraday trades. The momentum of the buyers is visible through the unfilled gap appeared in the daily chart. This stock is currently settled above the recent resistance zone and the short-term support is around Rs.375.

TATAELXSI: This stock advanced by 2.03% and ended at Rs.1228.55. This stock trading volume increased by 94 percent with numerous intraday trades. This stock is currently settled above the recent resistance zone and the short-term support is around Rs.979.

NIITTECH: This stock surged by 9.16% and ended at Rs.1087.5. This stock trading volume inflated by 259 percent with numerous intraday trades. This stock is currently settled above the recent resistance zone and the short-term support is around Rs.855.

ASHOKLEY: This stock surged by 3.24% and closed at Rs.164.2. This stock trading volume hiked by 88 percent with numerous intraday trades. It is regularly rising for 5 days. This stock is currently settled above the recent resistance zone and the short-term support is around Rs.143.

DHFL: This stock surged by 4.28% and ended at Rs.609.15. This stock trading volume increased by 71 percent with numerous intraday trades. This stock is currently settled above the recent resistance zone and the short-term support is around Rs.507.

MINDTREE: This stock surged by 3.38% and to close at Rs.1033.7. This stock is currently settled above the recent resistance zone and the short-term support around 770.

PETRONET: This stock dipped by 3.75% and closed at Rs.229.45. This stock trading volume spiked by 235 percent with 65% of the trades are deliverable volume. This stock is currently trading around the lower range of its price band and the crucial support zone is around Rs.226.

TCS: This stock advanced by 2.5% and settled at Rs.3470.25. This stock is listed in top traded counters with numerous intraday trades. This stock is currently settled above the recent resistance zone and the short-term support is around Rs.2832.

GAIL: This stock slipped by 3.02% and ended at Rs.327.55. This stock trading volume increased by 102 percent on Wednesday with 61% of the trades are taken for delivery. This stock is currently trading around the lower range of its price band and the crucial support zone is around Rs.317.

TATAGLOBAL: This stock advanced by 2.1% and settled at Rs.289.1. This stock trading volume inflated by 72 percent with numerous intraday trades. This stock is currently settled above the recent resistance zone and the short-term support is around Rs.260.

Q4 Result Insights

Mahindra & Mahindra Financial Services Limited

·        The top line saw a significant increase to 2506.57crs from 2132crs, an increase of 17.5% on YoY basis.

·        Net profit increased to 513crores from 285crs, an increase of 80% on YoY basis.

·        The earnings per share increased to Rs.8.43 from Rs.4.93 when compared to last year this quarter, an increase of 81%

·        Debt Equity Ratio of the company as of 31st March, 2018 is 4.24 for this fiscal year.

·        The net profit margin saw an increase from 13% to 20.4% when compared to last fiscal on same quarter.

·        Approved recommendation of a Dividend of Rs.4 per Equity Share of the face value of Rs.2/- each for the Financial Year ended 31st March, 2018.

View point: Mahindra finance ended fiscal year on strong note by increasing its top line and bottom line and giving clear visibility of future earnings growth. Revenue saw a significant growth in all its segments.

Wipro

Wipro Ltd, India’s third-biggest software services exporter by revenue, reported a 20.3 per cent fall in fourth-quarter net profit.

·        Net profit fell to Rs.1,803crs ($269.99 million) in the three months ended March 31, from Rs.2,261crs a year earlier.

·        The earnings per share remained at Rs.4 for this quarter, a decline of 14.5% on YoY basis.

·        During the current period, the company has concluded the buyback of 343.75 million equity shares. This has the total outflow of Rs.110000 million from the company.

·        The company have reduced its equity holding from 74% to 11% in Wipro airport IT services limited.

·        The net profit margin also declined to 12% from 15 % on YoY basis, a decline of nearly 20%.

·        The total income of the company stood at Rs.14,304crs against Rs.15,045.5crs in the year-ago period. 

View point: Wipro ended this financial year by giving poor performance for this quarter as its revenues from all the segments saw a decline and thus providing below performance than the prediction of the industry analysts.