Share Market News Today | Sensex, Nifty, Share Prices LIVE: Bulls attempted a comeback on Dalal Street on Tuesday, pushing benchmark indices higher. S&P BSE Sensex rallied 776 points or 1.37% to settle at 57,356 while the NSE Nifty 50 index jumped 246 points or 1.46% to end the day at 17,200. Volatility cooled down on Dalal Street with the India VIX index falling 9.74% to close just above 19 levels. Bajaj Auto was the top Sensex gainer on the day, up 5.6% while Axis Bank was the worst performer, falling 0.72%.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
BSE Sensex soared 776 points or 1.4 per cent to settle at 57,356.61, while NSE Nifty 50 index rallied 246 points or 1.5 per cent to finish trade at 17,200.80
Footwear stocks made a comeback today as the Rs 550bn footwear market in India is witnessing consumerism once again aided by both Value for Money and Aspirational brands. The sector is likely to see double-digit growth over the next few years aided by very low per capita consumption and should help the half a dozen listed footwear entities gain market share. S Ranganathan, Head of Research at LKP Securities
Talking about the risks, the company faces near term headwinds as the prices of its key raw material have risen dramatically. Also, the fact that the cash flow from operations of the company for 9MFY22 are negative, even though there has been an impressive jump in the revenue and profits, is a cause of concern. Lastly, the post-issue P/E of ~78x based on FY22 annualized earnings indicates that the valuations are quite steep. Considering these factors, the overall volatile market sentiment and that the long term prospects of the company seem positive, only investors with healthy risk appetite are advised to ‘Subscribe for Long Term’ Yesha Shah, Head of Equity Research, Samco Securities
Nikhil Kamath is still not looking to buy new-age internet companies such as Nykaa, Paytm, Zomato and others despite their strong correction so far this year. “I don’t like companies which do not make a profit, because I like valuing companies as a multiple of profit,” the co-founder of TrueBeacon and Zerodha told FinancialExpress.com. He added that it may not be right for anyone to factor in future growth before the growth has happened and value the company as if that were a certainty. So far this year, Nykaa is down 19.6%, Paytm stock has tanked 54% and that of Zomato has fallen 44%.
The growth momentum in verticals such as Communications, Semiconductor, Utilities, Automotive, Medical Devices, and Mining is expected to continue for the next two-to-three years. Aerospace is expected to bounce back to pre-COVID levels in FY23. Although near-term growth may be soft, better margin will compensate for the growth. We expect an 11% PAT CAGR over FY22-24. We maintain our Buy rating on attractive valuations
Campus Activewear IPO has received bids for 2.23 crore shares against IPO size of 3.36 crore shares, getting subscribed 67 percent on April 26, the first day of subscription.
Q4FY22 earnings commentaries remain critical and will drive the market fundamentals moving forward. As we have seen historically, value themes tend to do better in rising inflation and interest rate scenarios. We could see good allocation in value-oriented sectors in the next 1-2 years. Further, in Q4FY22, commodities, and services including Banks, Metals, Oil & Gas, display robust earnings growth on a YoY basis. Keeping the heightened commodity cost pressure and the supply side constraints in view, it is likely to be a challenging quarter in terms of margins for commodity consumers like Automobiles, FMCG, Cement, and Specialty Chemical sectors. Neeraj Chadawar, Head – Quantitative Equity Research, Axis Securities
In the near term, the market performance is likely to be range-bound, and we could see the reaction in both directions. Yesterday, we saw a sharp rise in volatility, and in today’s session, there was some cool-off in the India VIX index, so the market is green. A clear trend is likely to emerge after volatility sustains at lower levels for longer-term. FIIs flows are likely to remain volatile on account of aggressive rate hikes expectation amid the rising inflationary scenario. So, investors should limit the risky bets in the current market environment and focus on the fundamentals where the earnings visibility is intact. Neeraj Chadawar, Head – Quantitative Equity Research, Axis Securities
Campus with leading market share in India’s branded S&A footwear, is well placed to capture the highly underpenetrated and fast growing footwear segment in India. On 9MFY22 annualised EV/Sales basis Campus is valued at 8.1x and seems reasonable compared to ~10x for both Bata and Relaxo. Given Campus’ presence in niche S&A segment with pan-India omni-channel presence, along with strong financials, we suggest investors to Subscribe to the IPO. Motilal Oswal Financial Services
BSE Sensex and Nifty 50 were ruling 1.25 per cent higher on Tuesday, supported by gains in index heavyweights such as Reliance Industries Ltd (RIL), Infosys, ICICI Bank, Bajaj Finance, State Bank of India (SBI), among others. So far in the trade today, the 30-share index rose to day’s high of 57,333.49, and Nifty to 17,181.85 levels. While no stock hit fresh 52-week high or 52-week low on S&P BSE Sensex on Tuesday. Read full story
Rakesh Jhunjhunwala portfolio stock Crisil has soared 10% in the last five trading sessions and was again 1.4% higher on Tuesday morning. The recent up-move charted by the stock comes after the company has posted its January-March quarter earnings, where net profit soared 45.6% and income from operations for the quarter was up 20.1%. The company has also declared a dividend of Rs 7 per share. Currently, shares of Crisil were trading at Rs 3,386 per share. Ace investor Rakesh Jhunjhunwala owns 40 lakh equity shares of Crisil along with his wife Rekha Jhunjhunwala.
The Ukraine war has shot commodity prices higher worldwide, Ukraine being the largest exporter of oilseeds like sunflower, and soybean seeds have pushed the edible oil prices. The Indonesian palm oil export ban and Malaysian export tax will further squeeze the oil supply. This whole problem has skyrocketed edible oil prices in India, benefiting Edible Oil companies like Adani Wilmar. The company will have windfall gains via. Unsold inventory revaluation. Further, this situation will improve the overall margins for the company. Due to these factors the company has finally crossed the Rs 1 lakh crore market cap level, however, we advise investors to stay cautious as the stock has moved far ahead from its fundamentals. Santosh Meena, Head of Research, Swastika Investmart
The acquisition of Twitter by Elon Musk should be seen as a new form of activist investment where the agenda is not only financial gains by restructuring an underperforming business but also to make the platform more relevant for its global customer base. The stock of Twitter has been a rank underperformer since its listing in 2013. The IPO was done at a market cap of USD31 billion which is almost the market cap at which Musk started buying the shares of the company for earlier this year. Even at the acquisition price of USD 54.2 per share, the price has barely returned 9% per year from its IPO price of USD 26 per share. This is in stark contrast to the massive returns generated over the same period by leading FAANG stocks like Apple and Amazon that have gone on to become trillion-dollar businesses.
~ Abhay Agarwal, Founder, and Fund Manager, Piper Serica, SEBI Registered Portfolio Management Service Provider.
Campus Activewear’s Rs 1,400 crore IPO (Initial public offering) will open for subscription today. A day prior to the issue opening the sports and athleisure focused footwear manufacturer has managed to raise Rs 418.3 crore from 32 anchor investors. The list of anchor investors includes both domestic as well as global institutional investors. Campus Activewear IPO will remain open for subscription till April 28, Thursday. The issue is entirely an Offer For Sale (OFS) by existing shareholders. The public issue of Campus Activewear is the first IPO of the current financial year.
Broadly, the fundamentals are negative for the rupee and the only preventing factor is RBI. The central bank has actively managed the volatility in currency by selling its fx reserves and using tools such as sell/buy swap. In such an attempt, Today RBI will conduct $5bn sell/buy swap which is likely to add some short term support for the rupee. Technically, yesterday we saw the rupee depreciating up to 76.75 levels but did not sustain making it a strong resistance for the USDINR pair. Overall, we continue to expect the rupee to trade in the short term range of 75.70-77.00. Amit Pabari, managing director, CR Forex Advisors
IndusInd Bank, Hindustan Unilever, Sun Pharma, Mahindra & Mahindra, Bajaj Finance were top BSE Sensex gainers
WTI crude futures fell almost 5 percent in the previous week to around $102 per barrel, on demand concerns stemming from higher interest rates, weaker global growth and slower demand from top importer China, even as the EU considered a ban on Russian oil. The major blow to prices came after the IMF lowered its global growth projections by 0.8 percentage points to 3.6% in 2022 and by 0.2 percentage points to 3.6% in 2023 due to the war in Ukraine. Read full story
BSE Sensex reclaimed the crucial 57000 mark rising over 500 points, and NSE Nifty 50 was ruling above 17100.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol prices have been left unchanged for the 20th day running by oil marketing companies (OMC) on April 26. Prices have been steady since April 6 after OMCs hiked prices by Rs 10 per litre through 14 price hikes across major cities. Petrol in the National Capital of Delhi currently retails at Rs 105.41 per litre, after the last hike of 80 paise. Diesel in the city is priced at Rs 96.67. In Mumbai, a litre of petrol and diesel cost Rs 120.51 and Rs 104.77, respectively. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international prices and foreign exchange rates.
Nifty fell with another down-gap on April 25 and is now close to the previous low of 16824. A move below this level could portend even more weakness for the Nifty (with some intermittent bounces thrown in). 17136-17171 band could in the near term act as a resistance. The broader market is under pressure as reflected by the Advance decline ratio which is the worst since March 07, 2022. Deepak Jasani, Head of Retail Research, HDFC Securities
Markets have been witnessing erratic swings within a broader range, largely in reaction to global cues. Besides, the lack of support from the domestic front is further adding to the participants’ worries. We thus reiterate our cautious stance and suggest limiting leveraged positions. Ajit Mishra, VP – Research, Religare Broking
The short term trend of Nifty continues to be negative. The placement of important supports around 16800 levels and a formation of weekly and daily pattern indicate a probability of an upside bounce from the lows in the next 1-2 sessions. Confirmation of reversal pattern at the lows could signal a quantum of upside bounce in the market. Nagaraj Shetti, Technical Research Analyst, HDFC Securities
We expect markets to remain volatile amid worries about inflation and its impact on corporate earnings, while also fuelling concerns over aggressive US Fed rate hikes in the near term. However, stock specific action may continue as we are progressing into earnings season. Nifty is now again below 17,000 levels and weakness may continue towards 16,650-16800 zones. Market is likely to remain volatile in the broader trading range with absence of follow up on either side. We suggest investors to remain focused on selective stocks in the market which are resilient on the back of strong quarterly results. Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
Elon Musk and Twitter Inc. reached an agreement for the world’s richest man to buy the social networking platform for $44 billion, resolving the pressing question of whether the company’s board would consent to the leveraged buyout deal. On Musk’s side, though, there remains a mystery: How is he going to cover the $21 billion equity portion of the transaction that he’s personally guaranteed? Read full story
RIL, Future Retail: The legal battle between Reliance Industries (RIL) and e-commerce major Amazon would continue unabated, even after the latter had expressed its inability to go ahead with the 24,713-crore deal. Read full story
Domestic stock markets started the week’s trade down in the red, falling more than 1% on Monday. S&P BSE Sensex is currently trading at 56,579 points while the NSE Nifty 50 index settled at 16,953. Bank Nifty, however, closed with marginal gains. India VIX, skyrocketed to breach 21 levels. Ahead of Tuesday’s trade, SGX Nifty was up in the green, suggesting a pullback on domestic markets after yesterday’s heavy loss. Global markets were largely positive after Wall Street equity indices ended with gains on Monday. Chartists say that the Nifty 50 is placed near crucial support levels.
Nifty futures were trading 59.50 points or 0.35 per cent up at 17,054.50 on Singaporean Exchange, suggesting that Nifty may start above crucial 17000 level.
Campus Activewear IPO (Initial Public Offering) will open for subscription today (26 April 2022). The public issue will remain open for bidding till 28 April. The price band for the IPO has been fixed at Rs 278 to Rs 292 per equity share. The company aims to raise Rs 1,400.14 crore from this public issue through issuance of 4.79 crore equity shares. The likely date for share allotment for this IPO is 4 May, and the shares will be listed on both National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The official registrar of this public issue is Link Intime India Private Ltd. Read full story
The country’s largest initial public offering (IPO) of Life Insurance Corporation (LIC) is set to open on May 4 and will close on May 9. The anchor book is slated to open on May 2 but the issue will open for retail investors two days later, as May 3 is a holiday on account of Eid. Investment bankers said that the government has cut the issue size to Rs 21,000 crore and the issue is now valued at 1.1 times its embedded value of Rs 5.4 trillion. Embedded value is the measure of consolidated shareholder value of an insurer. Historically, listed private sector insurers have traded at 2-3 times their embedded value. Read full story