Indices at previous closing
Nifty50: 17,245 ▲206 (+1.2%)
Sensex: 57,521 ▲701 (+1.2%)
Nifty Bank: 36,422 ▲393 (+1.0%)
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Vedanta’s revenues rise
The mining company Vedanta's revenue from operations in Q4 rose 41.1% year-on-year (YoY) to ₹39,342 crore, supported by higher sales volumes and improved commodity prices. However, its net profit for Q4 fell 5% YoY to ₹7,261 crore due to a one time tax credit in Q4 FY21.
The company declared its first interim dividend for FY23 of ₹31.5 per equity share. The company said that it had paid a dividend of ₹45 per share last year, at a 14% dividend yield.
SBI Life reports strong growth
In its Q4 results, SBI Life Insurance reported a 26% YoY increase in profit at ₹672 crore. This was supported by a growth of 12% YoY in net premium income at ₹17,433 crore.
According to the management, the company maintained its market leadership in the individual rated premiums category in FY22 with a 23.4% share and saw a strong growth of 32% in the individual new business premium category.
Varun Beverages’ net profit doubles
The franchisee of PepsiCo in India, Varun Beverages reported a net revenue from operations of ₹2,827 crore, up 26% YoY in the March quarter, driven by high volume growth. Similarly, its net profit grew by 98% to ₹271 crore, owing to improved margins, lower finance cost and higher profitability from international operations.
The company also announced a bonus issue of shares in the ratio of 1:2 to the company shareholders. This means that for every 2 shares held by a shareholder, 1 additional share will be issued by the company.
Sectoral indices (April 28)
| Top gainers | Top losers |
| Nifty FMCG ▲ 2.1% | Nifty Media ▼ 3.1% |
| Nifty Oil & Gas ▲ 1.2% | NA |
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.4% |
| Nikkei 225 (Japan) | ▲ 1.7% |
| Hang Seng (Hong Kong) | ▼ 0.1% |
| SSE Composite (China) | ▲ 0.1% |
| Dow Jones (US) (April 28) | ▲ 1.8% |
| NYSE (US) (April 28) | ▲ 1.8% |
| Nasdaq (US) (April 28) | ▲ 3.0% |
| S&P 500 (US) (April 28) | ▲ 2.4% |
Fact of the day
Less than 10% of the 50 crore Indian users of over-the-top (OTT) platforms pay for services.
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