Indices at previous closing
Nifty50: 14,653 ▲ 168 (+1.1%)
Sensex: 48,944 ▲ 557 (+1.1%)
Nifty Bank: 32,735 ▲ 460 (+1.4%)
In the news
Axis Bank emerges strong in Q4
- The Mumbai-based private lender’s profit after tax stood at ₹2,677 crore, versus a loss of ₹1,388 crore reported in Q4FY20. Its net interest income was up 11% YoY to ₹7,555 crore, while provisions fell 58% to ₹3,295 crore during the same period.
- The bank’s asset quality improved with its gross NPAs declining to 3.7% from 4.86% in Q4FY20. The stock closed flat yesterday but has risen about 13% in 2021.
Britannia’s quarterly profits decline
- The FMCG major’s net profit in Q4 declined 3% to ₹360 crore, versus street estimates of ₹416 crore. Profits were affected by the rise in prices of palm oil, packing material and dairy products.
- Meanwhile, the company’s consolidated revenue of ₹3,130 crore was up 9% YoY, marginally above street estimates of ₹3,109 crore. The stock traded flat yesterday but is down 2% so far this month.
Hindustan Zinc Q4 profit zooms
- The mining company reported a net profit of ₹2,481 crore in Q4, up 85% YoY. Meanwhile, revenues shot up to ₹6,725 crore, gaining 56% driven by a 125% YoY rise in revenues from Silver.
- The firm delivered its highest-ever quarterly EBITDA, which surged 98% to ₹3,875 crore. For FY22, the company expects both mined and finished metal production to be higher than FY21. The stock rose 4.5% yesterday and has gained nearly 17% in April.
TVS reports highest-ever profit
- The Chennai-based automaker reported a 53% YoY surge in its revenue from operations, which stood at ₹5,322 crore. It posted its highest-ever quarterly profit of ₹289 crore, up 292% YoY.
- Its EBITDA margin jumped by 310 basis points to 10.1%. The results were boosted by a low base of Q4FY20, when sales were battered by a shift in emission regulations and the economic slowdown. The stock was up 3% yesterday, and has risen about 17% so far in 2021.
Sectoral indices (27 April)
| Top gainers | Top losers |
| Nifty Metal ▲ 2.7% | NA |
| Nifty PSU Bank ▲ 2.3% | NA |
Global markets (at 8:15 am)
| Indices | Today's movement |
| Nikkei 225 (Japan) | ▲ 0.3% |
| Hang Seng (Hong Kong) | ▲ 0.3% |
| SSE Composite (China) | ▲ 0.0% |
| Dow Jones (US) (27 April) | ▲ 0.0% |
Fact of the day
US-based investor Glauber Contessoto reportedly became a Dogecoin millionaire, after his $180,000 investment in the meme currency grew nearly 700% in just over 2 months.
Source: Business Insider
Yay 👍 or Nay 👎?
We'd love your thoughts on this morning update.
If you haven't already, open your Upstox account to get IPO-ready today! Click here to sign up.
Disclosures and Disclaimer
Investment in securities markets are 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.