Nifty, Sensex May Try to Put in a Small Rally - Tuesday Closing Report
Moneylife Digital Team 16 April 2024
On Tuesday, 2251 stocks advanced, 1567 declined and 115 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 1.43 indicating positive closing of stocks in broader markets. The trend of the major indices on Tuesday’s trading is given in the table below.
 
 
On NSE, 90 securities advanced and closed at a new 52-week high whereas 17 securities sank to close at their new 52-week lows. In sectoral indices, Nifty IT, Nifty PSU bank and Nifty Metal were among the biggest losers. Nifty Media, Nifty FMCG and Nifty Pharma were among the biggest gainers.
 
Sasken Technologies (+2.65%) and JOYNEXT, a respected Tier1 player in the automotive industry, entered into strategic partnership to collaborate on the development and launch of cutting-edge platforms for both in-vehicle systems (navigation, digital cockpit and 5G telematics) and off-vehicle cloud and digital services leveraging emerging technologies for the automotive industry.
 
Shoppers Stop (-1.20%) and Axis Bank launched their co-branded Credit Card - the Axis Bank Shoppers Stop Credit Card.
 
Aditya Birla Capital (ABC) (-0.83%) launched its omni-channel D2C platform ABCD making ‘Everything Finance as Simple as ABCD’.
 
Dynacons Systems & Solutions (+20.00%) secured a significant contract worth Rs233 crore from the National Bank for Agriculture and Rural Development (NABARD).
 
Steel Strips Wheels (SSWL) (+1.58%) has signed alloy wheel supply agreement with a leading Passenger Vehicle (PV) Original Equipment Manufacturers (OEM) in India.
 
Sula Vineyards (-0.77%) completed acquisition of 100% equity of N D Wines.
 
Caplin Point Laboratories (+1.48%) subsidiary company—Caplin Steriles (Caplin) has been granted final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Ofloxacin Ophthalmic Solution USP 0.3% (eye drops), a generic therapeutic equivalent version of (RLD), OCUFLOX Ophthalmic Solution of Allergan Inc.
 
Jio Financial Services (+2.40%, BlackRock, Inc and BlackRock Advisors Singapore Pte (Blackrock) signed an agreement to form a 50:50 joint venture between the Company and Blackrock.
 
Som Distilleries & Breweries (+3.15%) commissioned state-of-the-art wraparound packaging equipment at its Bhopal canning facility. 
 
Sterlite Technologies (+6.53%) raised Rs1000 crore through a Qualified Institutional Placement (QIP) route.
 
Gokul Agro Resources’ (+1.11% wholly owned subsidiary—Riya Agro Industries entered into a Memorandum of Agreement (MOA) with the Government of Andhra Pradesh represented by the Commissioner of Horticulture & Oil Palm Commissioner for Oil Palm Development programme in the Ananthapuramu district of Andhra Pradesh.
 
Happy Forgings (+3.83%) obtained an order from a leading global Tier 1 manufacturer of automobile driveline components and systems for supply of brake flanges for passenger vehicles (utility vehicles/ pickup trucks) subject to fulfillment of supply terms and conditions.
 
Gujarat Gas (GGL) (-3.33%) and Indian Oil Corporation (IOCL) signed a non-binding Memorandum of Understanding (MOU) to broaden the scope and accessibility of energy solutions for consumers.
 
Cipla Health (CHL) (-0.13%), the wholly owned subsidiary and consumer healthcare arm of Cipla, signed a business transfer agreement (BTA) for purchase of the distribution and marketing business undertaking of cosmetics and personal care business (Undertaking) of Ivia Beaute, India (IVIA) including IVIA’s brands namely Astaberry, Ikin and Bhimsaini on a worldwide basis.
Earnings: 
 
GTPL Hathway (-0.88%): Net Sales was Rs808 crore in Q4FY24 up 17% YoY (Rs692 crore). Net Profit was Rs16.0 crore in Q4FY24 up 462% YoY (Rs-10.7 crore)
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
 
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