Sensex Today Trades Higher | Nifty Above 22,400 | Tejas Networks Rallies 10%

Tue, 23 Apr 10:30 am

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Asian markets traded higher on Tuesday following overnight gain on Wall Street.

Japan's Nikkei 225 gained 0.8%, while the Topix rose 0.66%. South Korea's Kospi added 0.2%

US stocks rose on Monday after steep losses in the previous session as the tensions in the Middle East eased.

Here's a table showing how US stocks performed on Monday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	157.95	2.23	1.43%	159.19	155.66	161.7	103.27
Apple	165.84	0.84	0.51%	167.26	164.77	199.62	162.8
Meta	481.73	0.66	0.14%	492.01	473.4	531.49	207.13
Tesla	142.05	-5	-3.40%	144.44	138.8	299.29	138.8
Netflix	554.6	-0.44	-0.08%	558.61	542.01	639	315.62
Amazon	177.23	2.6	1.49%	178.87	174.56	189.77	101.15
Microsoft	400.96	1.84	0.46%	402.85	395.75	430.82	275.37
Dow Jones	38239.98	253.58	0.67%	38447.16	37985.07	39889.05	32327.2
Nasdaq	17210.88	173.24	1.02%	17305.15	17010.25	18464.7	12724.24

Data Source: Equitymaster

At present, the BSE Sensex is trading 231 points higher and NSE Nifty is trading 59 points higher.

HCL Tech, NTPC and Titan are among the top gainers today.

Hindalco, L&T and Britannia the other hand are among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets are trading on positive note. The BSE Midcap index is trading 0.3% higher and the BSE Small Cap index are trading 0.6% higher.

Sectoral indices are trading mixed, with socks in realty sector, telecom sector and power sector witnessing buying. Meanwhile stocks in energy sector, and metal sector witnessed selling pressure.

The rupee is trading at Rs 83.3 against the US dollar.

In commodity markets, gold prices are trading 1.1% lower at Rs 70,400 per 10 grams today.

Meanwhile, silver prices are trading 1% lower at Rs 79,758 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock markets, Tejas Networks shares gained momentum after Tata Sons acquired a controlling stake in the company.

In the latest video, Research Analyst, Tanushree Banerjee why this Tata Stock outran Tata Elxsi.

Tune in to find out more.

Value Stocks: For People Who Never Like Overpaying for Anything

Hero MotoCorp's Global Expansion

The company launches four products and a new product assembly facility

Building on its commitment to Nepal, Hero MotoCorp along with its authorized distributor CG Motors, has announced its aggressive business plans and inaugurated a product assembly facility in the country.

Hero MotoCorp launched four of its globally popular products - Xpulse 200 4V, Super Splendor, Splendor+ motorcycles and Xoom 110 scooter. The four products will be assembled locally at the new state-of-the-art assembly facility located in CG Industrial Park in Nawalparasi.

The facility will have a capacity of 75,000 units per annum and will bring new investments and create job opportunities in the region. CG Motors will be rapidly expanding its sales and service network across Nepal to cater to the growing customer base.

With strong household spending and increased demand for two-wheelers, which two-wheeler stock is leading the race?

For the answer, check out our editorial Hero MotoCorp vs TVS Motors: Which Two-Wheeler Stock is Better in 2024?

Reliance Industries Q4 Results

Oil-to-telecom conglomerate Reliance Industries Limited (RIL) on Monday reported a consolidated net profit of Rs 189.5 bn for the quarter that ended on 31 March 2024 (Q4FY24).

This was a 1.8% decline in net profit compared to Rs 192.9 bn reported during the same period last year (Q4FY23), which was also the highest recorded consolidated net profit the company has ever achieved in a quarter.

The company reported a revenue of Rs 2,407.2 bn, up 11.3% from Rs 2,162.7 bn reported during the same period last year.

Total expenses of RIL went up 11.5% to Rs 2,175.3 bn from Rs 1,951.8 bn in Q4FY23.

Sequentially, RIL's net profit rose 9.7% from Rs 172.7 bn in Q3. Revenue from operations went up 5.6% from Rs 2,279.7 bn reported in the last quarter, while expenses rose 5.6% quarter-on-quarter from Rs 2,060.1 bn.

For the entire financial year 2023-24, the company's gross revenue from operations stood at Rs 696.2 bn. This was a 4.3% increase year-on-year from Rs 667 bn reported at the end of FY23.

Revenue for FY24 was Rs 9,144.7 bn, up 2.6% from Rs 8,913.1 bn at the end of last year.

Annual expenses went up 2.12% to Rs 8,261.9 bn from Rs 8,090.2 bn reported the year before.

RIL board has recommended a dividend of Rs 10 per fully paid-up equity share of Rs 10 each for the financial year ended 31 March 2024, subject to the approval of members of the company at the ensuing Annual General Meeting of the Company.

Inox Wind's Bonus Issue

The board of Inox Wind Ltd. will meet on Thursday, 25 April, to consider the issue of bonus shares, it said in an exchange filing. This is the first such corporate action on record that the company will be undertaking.

The record date for the proposed bonus issue of shares is yet to be determined.

Companies issue bonus shares to capitalise on their free reserves, increase their Earnings Per Share (EPS) and paid-up capital, along with reducing the reserves. Shareholders are issued these shares at no additional cost and hence are also known as free shares.

Last year, Inox Wind's board approved the scheme of amalgamation of Inox Wind Energy into Inox Wind. Shareholders of Inox Wind Energy received 158 equity shares of Inox Wind for every 10 shares held. In addition, 10 share warrants of Inox Wind Energy were also issued for ?847 apiece.

Inox Wind recently received an order for the supply of 210 MW of wind turbine generators (WTGs) from Hero Future Energies (HFE). This was a repeat order for its 3 MW Wind Turbine series.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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