The equity indices closed in green on Thursday that ended their two-day losing streak. However, the momentum was not carried forward on Friday, April 23, as the Indian markets are likely to see a gap down opening on the back of weak global cues and surging new Covid-19 cases in the country. Amid mixed global cues, the BSE Sensex was down 184.33 points or 0.38 percent at 47,896.34,while the Nifty was down at 66.80 points 0.46 percent at 14,339.40.
Top stock to look for the day:
Tata Motors: JLR is currently experiencing some COVID-19 supply chain disruptions. As a result, the company has adjusted production schedules for certain vehicles.
Cyient: The company reported higher consolidated profit at Rs 103.1 crore in Q4FY21 against Rs 95.4 crore in the corresponding period. Its revenue rose to Rs 1,093.1 crore from Rs 1,044.3 crore QoQ.
Amara Raja Batteries: Life Insurance Corporation of India (LIC) acquired 1,99,500 equity shares of the company on April 20, thus increasing total stake to 5.06 percent from 4.94 percent earlier.
Jindal Stainless: Cohesion MK Best Ideas Sub Trust acquired 30 lakh equity shares in the firm at Rs 75.55 per share. According to bulk deals data, Kotak Special Situations Fund sold 75 lakh equity shares in the company at Rs 75.59 per share on the NSE.
Pidilite Industries: The company increased shareholding in its subsidiary entity Cipy Poly Urethanes Pvt. Ltd from 70 percent to 100 percent.
Tata Elxsi: The company reported higher profit at Rs 115.16 crore in Q4FY21 against Rs 82.08 crore in same period last year. Its revenue rose to Rs 518.4 crore from Rs 438.88 crore YoY. The company also recommended a final dividend of Rs 24 per share for FY21 and one-time special dividend of Rs 24 per share.
Angel Broking: The company reported that its board of directors have appointed Narayan Gangadhar as the Chief Executive Officer (CEO) of the company with effect from April 26.
Visaka Industries: The company reported a higher consolidated profit at Rs 30.87 crore in Q4FY21 against Rs 6.85 crore in the corresponding period. Revenue’s rose to Rs 354.18 crore from Rs 227.7 crore YoY.
Sandhar Technologies: The company informed exchanges that its step-down subsidiary Breniar Project S L, Spain has been liquidated on April 21, 2021. However, the subsidiary’s liquidation will not affect any business or accounting polices.
Indus Towers: The company reported a higher profit at Rs 1,363.8 crore in Q4FY21 against Rs 1,360 crore in the same period last year. However, its revenue fell to Rs 6,491.8 crore from Rs 6,736.1 crore QoQ.
Narayana Hrudayalaya: After shelving the plan to establish a 130-bedded hospital project in Nairobi, Kenya, the company said ISO Healthcare, Mauritius, has approved and completed partial buyback of shares. They have repaid the capital to Narayana Holdings amounting to $4,36,043. The carrying value in the project as per consolidated financials of Narayana Hrudayalaya as in March 2020 is Rs 2.824 crore.
Rallis India: The company reported a higher consolidated profit at Rs 8.12 crore in Q4FY21 against Rs 0.68 crore in Q4FY20. Its revenue rose to Rs 471.26 crore from Rs 346.29 crore YoY.
Results on April 23: Aditya Birla Money, Mahindra & Mahindra Financial Services, HCL Technologies, Indiabulls Real Estate, Bombay Wire Ropes, Medinova Diagnostic Services, Oriental Hotels, Pranavaditya Spinning Mills, Smruthi Organics, GNA Axles, Integrated Capital Services, Shiva Cement and Radix Industries (India) will release quarterly earnings on April 23.