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Wipro Q4FY21 Results, National Fertilizer Stake Divestment, and Buzzing Stocks Today
Mon, 19 Apr Pre-Open | Monish Vora, TM Team

Indian share markets ended on a flat note on Friday.

Benchmark indices gave up early gains during closing hours on Friday as investors worried about the surge in Covid cases in the country and the WPI inflation soaring to an eight-year high.

At the closing bell on Friday, the BSE Sensex stood higher by 28 points (up 0.1%).

Meanwhile, the NSE Nifty closed higher by 36 points (up 0.3%).

Asian Paints and UltraTech Cement were among the top gainers.

ICICI Bank and Bajaj Finance, on the other hand, were among the top losers.

The BSE Mid Cap index and the BSE Small Cap index ended higher by 1.2% and 1.1%, respectively.

Sectoral indices ended on a mixed note with stocks in the automobile sector and power sector witnessing most of the buying interest.

Banking stocks, on the other hand, witnessed selling pressure.

Shares of DCM Shriram and Bajaj Electricals hit their 52-week highs.

At 7:55 am today, the SGX Nifty was trading down by 174 points, or 1.2% lower at 14,470 levels. Indian share markets are headed for a gap-down opening today following the negative trend on SGX Nifty.

Gold prices for the latest contract on MCX were trading down by 0.4% at Rs 46,999 per 10 grams at the time of closing stock market hours on Friday.

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Speaking of stock markets, in his latest video, Rahul Shah discusses whether another big crash is likely and the ideal strategy to counter it.

With the coronavirus rearing its head again and looking much more lethal than before, is the risk of a big crash back on the table? What should be one's strategy should this be the case?

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Top Stocks in Focus Today

Among the buzzing stocks today will be Tata Power.

The Common Services Centre (CSC) and Tata Power have entered into a tie-up to set up solar-powered microgrids and water pumps in rural areas across the country.

The partnership is in line with the government's focus on providing solar water pumps and micro-grid connected to solar power for small and marginal farmers to provide them with financial and water security, CSC said in a statement.

As per the partnership, Tata Power will set up 10,000 microgrids to support rural customers. These microgrids will be supported by CSC village level entrepreneurs (VLEs) at the ground level.

Dabur share price will also be in focus today.

FMCG company Dabur India's market capitalisation crossed the Rs 1 trillion-mark for the first time last week.

Dabur is one of the world's largest ayurvedic and natural health care company.

The company's fast moving consumer goods (FMCG) business led the growth with a 19.5% surge, with an underlying FMCG volume growth of 18.1% during the third quarter of 2020-21 (Q3FY21).

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Government to Divest Stake in National Fertilizer and RCFL

The government will divest a 20% stake in National Fertilizers (NFL) and 10% of its holding in Rashtriya Chemicals & Fertilizers (RCFL) through the offer for sale (OFS) route.

It currently holds a 75.7% stake in NFL and a 75% stake in RCFL.

The department of investment and public asset management (DIPAM) has sought expressions of interest from merchant bankers for both divestment projects and legal advisers by May 5, 2021.

"The Government of India intends to disinvest 20% paid-up equity capital of NFL out of its shareholding of 74.7%, through 'Offer for Sale' (OFS) method of shares by promoters," the department said in a notice inviting tenders issued April 12, 2021.

The government will also consider allotting shares to eligible and willing employees of NFL at a discount on the discovered price or the lowest cut off price, up to a maximum of a certain percentage of the OFS size subsequent to completion of the OFS transaction.

National Fertilizers is an Indian state-owned corporation that manufactures chemical fertilizers, organic fertilizers and industrial chemicals. As of 2018, it was the second-largest producer of fertilizers in India.

We will keep you posted on updates from this space. Stay tuned.

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Wipro Posts 27.8% YoY Growth in Q4FY21 Net Profits

In news from the IT sector, Wipro reported a consolidated net profit of Rs 29.7 billion for March quarter of financial year 2020-21 (Q4FY21), up 27.8% year-on-year (YoY), as against Rs 23.3 billion posted in the same period last year.

On a quarter-on quarter (QoQ) basis, the profit increased marginally by 0.1%, compared to Rs 29.7 billion reported in the December quarter of FY21.

Wipro's consolidated revenue from operations climbed 3.4% YoY to Rs 162.5 billion in the recently concluded quarter. This stood at Rs 157.1 billion in the corresponding period last year.

Wipro's IT services business clocked revenue at Rs 163.3 billion for the quarter, growing 3.9% QoQ.

The company said the fourth quarter was its best in the last 10 years.

Wipro said it added one client in over US$ 100-million category, three in over US$ 75-million band and two in the over US$ 50-million category.

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

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Read the latest Market Commentary

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Stock Market Updates

Sensex, Nifty Snap 4-Day Winning Streak; JSW Steel and Hindalco Among Top Losers (Today's Market)

May 11, 2021 Closing

Indian share markets ended on a negative note with the Sensex down by 341 points and the Nifty ending down by 92 points.

Sensex Trades Over 200 Points Lower, Dow Futures Down by 59 Points (Today's Market)

May 11, 2021 12:30 pm

BSE Sensex is trading up down 240 points, while the NSE Nifty is trading down by 52 points.

AUROBINDO PHARMA at All Time High; BSE HEALTHCARE Index Up 0.7% (Today's Market)

May 11, 2021 09:51 AM

AUROBINDO PHARMA share price has hit an all time high at Rs 1,064 (up 1.4%). The BSE HEALTHCARE Index is up by 0.7%. Among the top gainers in the BSE HEALTHCARE Index today are AUROBINDO PHARMA (up 1.4%) and PFIZER (up 1.4%). The top losers include PIRAMAL ENTERPRISES and CAPLIN POINT (down 0.2%).

Sensex Falls 400 Points on Weak Global Cues; Kotak Mahindra Bank & HDFC Top Losers (Today's Market)

May 11, 2021 09:30 am

Indian share markets open lower. The BSE Sensex opened down by 412 points, while the Nifty is trading lower by 124 points.

MARICO at All Time High; BSE FMCG Index Up 0.1% (Today's Market)

May 11, 2021 09:49 AM

MARICO share price has hit an all time high at Rs 487 (up 2.8%). The BSE FMCG Index is up by 0.1%. Among the top gainers in the BSE FMCG Index today are MARICO (up 2.8%) and P&G HYGIENE (up 0.7%). The top losers include DABUR (down 0.1%) and KRBL (down 0.1%).

GRINDWELL NORTON at All Time High; BSE CAPITAL GOODS Index Down 0.3% (Today's Market)

May 11, 2021 09:49 AM

GRINDWELL NORTON share price has hit an all time high at Rs 1,159 (up 3.4%). The BSE CAPITAL GOODS Index is down by 0.3%. Among the top gainers in the BSE CAPITAL GOODS Index today are GRINDWELL NORTON (up 3.4%) and HONEYWELL AUTOMATION (up 0.2%). The top losers include SOLAR INDUSTRIES (down 0.2%) and HAVELLS INDIA (down 0.6%).

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