Indices at previous closing
Nifty50: 17,200 ▲246 (+1.4%)
Sensex: 57,356 ▲776 (+1.3%)
Nifty Bank: 36,404 ▲322 (+0.8%)
For more updates on F&O, click here.
HDFC Life’s profit zooms
HDFC Life’s profit surged 59% year-on-year (YoY) to ₹506 crore in the March quarter, beating the street estimate of ₹360 crore. However, the company's revenue dipped 8% to ₹17,682 crore but was well ahead of the street estimate of ₹14,789 crore.
Meanwhile, firm’s operating income surged 52% YoY to ₹473 crore. It earned a net premium of ₹15,625 crore, an increase of 21% YoY.
LIC garners investor demand
Ahead of its IPO launch, Life Insurance Corporation of India (LIC) has reportedly received investment commitments worth ₹13,000 crore from anchor investors. This is more than twice the expected allotment size of its shares, believed to be set at ₹6,300 crore from over 100 investors.
However, the government's stake sale in LIC was lowered to 3.5% as compared to the 5% set earlier. As a result, the demand from foreign investors also saw a dip amid geopolitical tensions, high oil prices, and monetary tightening by various central banks.
Wipro’s ‘Rizing’ deal
Among its series of acquisitions, Wipro has recently signed an agreement to acquire Rizing Intermediate Holdings, a SAP consulting firm. Through this $540 million deal, Wipro hopes to strengthen its services in the domain.
According to the management, Rizing will be an extension of Wipro’s SAP Cloud practice and FullStride Cloud Services. Further, with this deal, the company hopes to grow its business in the oil and gas, utilities, consumer, and manufacturing industries.
Sectoral indices (April 26)
| Top gainers | Top losers |
| Nifty Realty
▲ 3.5% |
NA |
| Nifty Auto
▲ 2.8% |
NA |
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 1.1% |
| Nikkei 225 (Japan) | ▼ 1.7% |
| Hang Seng (Hong Kong) | ▲ 0.0% |
| SSE Composite (China) | ▲ 0.5% |
| Dow Jones (US) (April 26) | ▼ 2.3% |
| NYSE (US) (April 26) | ▼ 2.2% |
| Nasdaq (US) (April 26) | ▼ 3.9% |
| S&P 500 (US) (April 26) | ▼ 2.8% |
Fact of the day
As peak summer approaches, Indian breweries could hike beer prices by 10-15% to offset high raw material prices.
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.
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