Full Detail Analysis of market from last day

By Prarit
Market Updates

Morning Updates from 6/4/2021

Bajaj Finance logs higher AUM in Q4

  • Bajaj Finance, one of the country’s largest NBFCs, acquired 23 lakh, new customers. In the same period, its AUM increased by ₹9,500 crores and closed the fiscal at ₹153,000 crores. 
  • Despite an increase in customer base, the number of loans booked during the quarter contracted by 8.3% to 5.5 million. The stock fell 5.7% yesterday and was the top loser in the Nifty50.

Sobha posts record quarterly sales in Q4

  • In Q4, Bengaluru-based real estate developer clocked about 13.3 lakh square feet in total sales—its highest ever in a quarter—for a total value of ₹1,072 crore. Meanwhile, the total sales value increased 54% YoY. 
  • The company has mentioned that better cash flows during the quarter helped in debt reduction and its average cost of borrowing has also come down. The stock was down 3.3% yesterday.

Panacea Biotec to produce Sputnik V vaccine

  • The New Delhi-based pharmaceutical company has reportedly agreed to produce 100 million doses of the Russian vaccine per year. However, the Russian Direct Investment Fund (RDIF), which markets the vaccine, has not specified when the production will commence. 
  • The two-shot vaccine is rated at efficacy of 91.6%. Besides Panacea Biotec (-3.4%), listed companies that are expected to produce Sputnik V include Gland Pharma (+1.3%) and Dr. Reddy’s (-0.4%).  

Crude oil prices cool off

  • The OPEC+ has agreed to ease its production cuts from May and will continue to do so till July. This is expected to increase the supply of crude oil and cool off prices. 
  • Meanwhile, the rising Covid cases in India and resulting restrictions have raised concerns over demand for crude oil from the world’s third-largest oil importer. Crude oil prices fell over 5% on Monday
Top gainersTop losers
Nifty IT
▲ 1.9%
Nifty PSU Bank
▼ 4.1%
Nifty Metal
▲ 0.8%
Nifty Bank
▼ 3.4%

Global markets (at 8:45 am)

IndicesToday’s movement
Nikkei 225 (Japan)▼ 0.7%
Hang Seng (Hong Kong) (1 April) 1.9%
SSE Composite (China)▼ 0.0%
Dow Jones (US)
(5 April)

Overall Updates from last day

The markets moved in a yo-yo fashion today and lacked a clear direction. In all, 31 of the Nifty50 stocks ended in the green. 

Among the Nifty sectoral indices, Pharma (+1.7%) and Metal (+1.4%) were the top gainers, whereas Bank (-0.5%) and Media (-0.3%) continued to remain weak. 

Top gainersToday’s change
Adani Ports▲ 14.5%
Tata Consumer▲ 4.6%
Asian Paints▲ 3.9%
Top losersToday’s change
Power Grid▼ 2.0%
Grasim▼ 1.3%
Eicher Motors▼ 1.0%

Here are the top stories of the day.  

Adani Ports witnesses growth in cargo volumes

  • In Q4, cargo volumes handled by Adani Ports grew 27% YoY to 73 million metric tonnes. For FY21, the growth rate stood at 11% YoY. 
  • In the container segment, its volumes grew 16% YoY in FY21 and the company commanded a market share of 41% in India. The upbeat operational performance was reflected in its stock, which rose 14.5% backed by high volumes, indicating strong investor interest.  

Jindal Steel soars on strong sales and output

  • The leading steelmaker reported a 37% YoY jump in sales volumes for Q4FY21. During the same period, the share of exports rose to 27% of sales from 15% last year. In FY21, it achieved its highest ever production and sales. 
  • According to reports, the company will sell its entire stake in its subsidiary Jindal Power and use the funds to cut its overall debt and reduce carbon emissions. The sale is likely to be completed by the end of the month. The stock hit a fresh 52-week high intraday, before closing 1.3% higher today.

Saregama signs licensing deal with Triller

  • The music label company has signed a global music licensing deal with Triller, an American short-video app. Through the license, the users of the Tik Tok rivalling platform can access Saregama’s entire music library to create content. 
  • Saregama has also signed a similar deal with Facebook to make its library accessible to Instagram users. After the announcement, shares of Saregama climbed 7% before closing 5.2% higher. Notably, the stock has grown nearly seven times over the last year.

GM Breweries surges on strong quarter

  • The Mumbai-based country-liquor maker recorded a 17% YoY growth in revenue from operations to ₹464 crore in Q4FY21. During the same period, profits surged by an impressive 155% to ₹45.3 crore.  
  • The growth in net profit was boosted by higher other income, which grew 285% to ₹26.2 crore. Along with the results, the company also declared a dividend of ₹4 per share. The stock soared 8% intraday, but closed 1.2% higher today.