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Gift Nifty Down 134 Points | TCS Q4 Results & Interim Dividend | Adani Group Eyes 20% Cement Market Share | Top Buzzing Stocks Today
Mon, 15 Apr Pre-Open

TCS Q4 Results & Interim Dividend | Adani Group Eyes 20% Cement Market Share | Top Buzzing Stocks Today

Indian share markets Slipped further as the session progressed and ended the day weak on Friday.

The Nifty-50 and Sensex saw sharp cuts of almost 1 % each after having scaled all time highs on Wednesday.

At the closing bell on Friday, the BSE Sensex closed lower by 793 points (down 1.1%).

Meanwhile, the NSE Nifty closed lower by 238 points (down 1.1%).

Bajaj Auto, TCS and Nestle were among the top gainers.

Sun Pharma, Maruti Suzuki and ONGC on the other hand, were among the top losers.

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

Broader markets ended the day lower. The BSE Mid Cap ended 0.5% lower and the BSE Small Cap index ended 0.6% lower.

Sectoral indices are trading negative with socks banking sector, realty sector and oil & gas sector witnessing most selling pressure.

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Gold prices for the latest contract on MCX were trading 1.6% higher at Rs 72,780 per 10 grams at the time of Indian market closing hours on Friday.

At 7:50 AM today, the Gift Nifty was trading 134 points lower at 22,456 levels.

Indian share markets are headed for a negative start today following the trend on Gift Nifty.

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Top buzzing stocks today

Vodafone Idea share price will be in focus today.

Indian telecom operator Vodafone Idea said on Friday it would raise up to Rs 180 bn (US$ 2.16 bn) later this month through a sale of new shares, in what will be the country's biggest follow-on public offering (FPO).

Pratham EPC will also be a top buzzing stock.

Shares of Pratham EPC Projects Limited zoomed 20% and were locked in the upper circuit after the company bagged a Rs 4.9 bn order, which is more than double its market capitalisation of Rs 2.4 bn.

The newly listed company, which made its stock market debut in March, stated that the order pertains to an EPC contract of onshore or offshore crude oil pipelines in the Gulf of Khambhat and other fields of Gujarat. The project is expected to be completed in the next 36 months.

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TCS Q4 Results & Interim Dividend

India's leading software exporter Tata Consultancy Services (TCS) on Friday reported a consolidated net profit of Rs 124.3 bn in the fourth quarter. It was up 9% from Rs 113.9 bn a year ago.

Revenue from operations increased by a marginal 3.5% year-on-year (YoY) to Rs 612.4 bn. The Board has also recommended a final dividend of Rs 28 per share.

The EBIT margin or the operating margin was up at 26% for Q4, a 1% increase from 25% in the previous quarter.

For the full year of FY24, revenue grew by by 6.8% YoY to Rs 2.4 tn. Net profit for the year was at Rs 465.9 bn. Operating margin for the year was 24.6%.

Revenue in North America, which accounts for half of total revenue, slipped 2.3% year-on-year. Revenue from banking, financial services and insurance clients, its biggest vertical, fell 3.2%.

Still, TCS raked in a record $13.2 billion worth of orders in the quarter, including a 15-year mega deal with UK insurer Aviva, an existing client.

Meanwhile, TCS headcount declined sequentially by 1,759 employees in January-March. For the full year, headcount fell for the first time in 19 years by 13,249 employees.

As you're interested in Tata group stocks, check out the new section in our Stock Screener, where you can view the fundamentals of companies within a business group in one screen, including the Top Tata group stocks.

Anand Rathi Announces Interim Dividend

Anand Rathi Wealth reported a consolidated net profit of Rs 57 crore for the quarter ended March, up 33% compared with the year-ago period.

Total revenue for the same period rose 34% year-on-year to Rs 1.9 bn.

For FY24, the company recorded a 34% increase in profit growth at Rs 2.3 bn, while revenues increased 25% to Rs 7.5 bn.

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The board has recommended a final dividend of Rs 9 per share for the financial year 2023-24. The total dividend for FY24 stood at Rs 14, which includes an interim dividend of Rs 5 paid earlier.

The company said the dividend, if approved by members, will be paid within 30 days from the date of the AGM.

Earlier on Friday, Anand Rathi Wealth shares ended 2.7 per cent stronger at Rs 4,014.1 apiece on BSE.

Adani Group Eyes 20% Cement Market Share

Gautam Adani-led Adani group, which owns Ambuja Cements and ACC Ltd, is targeting to capture around one-fifth of the Indian cement market by FY28.

Adani Cement business will implement its accelerated capex program through internal accruals and the business will continue to remain debt free.

Besides, Adani Cement also amplifies the pace of capacity expansion and is expected to have an accelerated growth rate of 16% to reach 140 MTPA (million tonnes per annum) by FY2028.

Presently, Adani Cement is the second leading company in the sector after the Aditya Birla group firm UltraTech Cements.

Ambuja, with its subsidiaries ACC Ltd, has the capacity to produce 77.4 million tonnes of cement annually from 18 integrated cement manufacturing plants and 18 cement grinding units across the country. It had recently acquired Sanghi Industries.

The group has certain enablers for capacity enhancement and it already has land in possession and some are in the advanced stages of acquisition.

It has a cumulative 8,000 million metric tonnes of limestone reserve, a major raw material for the cement industry.

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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