Indices at previous closing
Nifty50: 14,496 ▼ -137 (-0.9%)
Sensex: 48,253 ▼ -465 (-0.9%)
Nifty Bank: 32,270 ▼ -190 (-0.6%)
In the news
Adani Ports profit soars, but misses estimates
- In Q4FY21, Adani Ports’ consolidated net profit surged 288% YoY to ₹1,321 crore, supported by improved margins and gains due to favourable forex movement.
- Its operating revenue rose 24% YoY to ₹3,608 crore, which was lower than street estimates of ₹3,721 crore. Port revenues, which accounts for 85% of total revenues, grew 30%. In FY21, its market share in container volumes rose to 41%, a gain of 5%. The stock rose 0.8% yesterday amid a weak broader market.
DCM Shriram slashes debt in Q4
- The agri and vinyl products maker posted revenues of ₹2,191 crore, up 14% YoY in Q4. The growth was driven by strong rise in revenues from Vinyls (29.5%), Sugar (22%) and the value-added product Fenesta (39.8%).
- Its profit after tax stood at ₹232 crore, up 15% YoY. The company was able to reduce its debt to ₹180 crore from ₹1,623 crore on the back of lower sugar inventory and lower fertiliser subsidy outstanding. The company’s shares fell 2.9% yesterday. but rose nearly 40% in April 2021.
Greaves Cotton’s Q4 revenues rise
- The Mumbai-based automotive engine maker reported a 35% YoY growth in its revenues to ₹520 crore. Its profit after tax rose from ₹1 crore in Q4FY20 to ₹14 crore in the latest quarter.
- As per the company, growth in Q4 came on account of its diversification strategy and new business initiatives like e-mobility, aftermarket solutions, non-automotive engines. The stock was down 4% yesterday but was up about 14% in April.
Higher provisions impact RBL Bank’s profit
- The private lender’s net interest income (NII) fell 11% YoY to ₹906 crore, missing street estimates of ₹936 crore. The fall in NII comes on account of interest reversals and refunds due to the relief on interest on interest.
- Net profit fell by a steeper 34% to ₹75 crore versus the estimated ₹102 crore. It has increased provisions against bad loans to ₹766 crore from ₹610 crore in Q3FY21. On the upside, net non-performing assets were down to 2.12% from 2.52% in the previous quarter. The stock was up 0.9% yesterday but is down by about 12% since April.
Events of the week
- Wednesday: Services PMI (India), Crude Oil inventories (US)
- Thursday: Initial jobless claims (US) Friday: Unemployment rate (US)
Sectoral indices (4 May)
| Top gainers | Top losers |
| Nifty PSU Bank ▲ 3.4% |
Nifty Pharma ▼ 2.0% |
| NA | Nifty Auto ▼ 0.8% |
Global markets (at 8:15 am)
| Indices | Today's movement |
| Nikkei 225 (Japan) (Apr 30) |
▼ 0.9% |
| Hang Seng (Hong Kong) | ▲ 0.0% |
| SSE Composite (China) (Apr 30) | ▼ 0.8% |
| Dow Jones (US) (30 April) | ▲ 0.0% |
Fact of the day
Powerpoint was developed by a US company called Forethought Inc and was originally named 'Presenter'. It was renamed after Microsoft bought it for $14 million in 1987.
Source: Britannica
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.
To catch our latest educational videos, join our Telegram channel here.
Disclosures and Disclaimer
Investments 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.