Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Sensex Today Rallies 622 Points | PSU Bank Stocks Shine | Tejas Networks Surges 17%
Mon, 22 Apr Closing

Sensex Today Rallies 622 Points | PSU Bank Stocks Shine | Tejas Networks Surges 17%

After opening the day on high, Indian share markets continued the momentum as the session progressed and ended the day firm.

The Indian stock market benchmarks, the Sensex and the Nifty 50 extended their gains into the second consecutive session on Monday, April 22, tracking positive global cues amid easing concerns over geopolitical tensions in West Asia.

At the closing bell, the BSE Sensex stood higher by 622 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 223 points (up 0.9%).

BPCL, L&T and Eicher Motors were among the top gainers today.

Titan, Coal India and Reliance Industries on the other hand, were among the top losers today.

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

The GIFT Nifty ended at 22,374 up by 263 points or 1.1% higher.

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 higher. The BSE Mid Cap ended 1% higher and the BSE Small Cap index ended 1.3% higher.

Sector indices are trading on positive note, with stocks in oil & gas sector, and healthcare sector witnessing buying.

KSB, Siemens and Trent hit their respective 52-week highs today.

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...

The rupee is trading at 83.37 against the US$.

--- Advertisement ---
Investment in securities market are subject to market risks. Read all the related documents carefully before investing

Top 2 Stocks to Ride India's Bluechip Bull Run

Tanushree's research hints at a potential mega bull run in bluechip stocks over next several years.

She has already identified her top 2 stocks to ride this emerging opportunity.

You can discover everything about this mega opportunity at Tanushree's upcoming event.

Click Here to See Full Details
Details of our SEBI Research Analyst registration are mentioned on our website - www.equitymaster.com
---------------------------------------------------

Gold prices for the latest contract on MCX are trading 1.2% lower at Rs 71,952 per 10 grams.

Meanwhile, silver prices are trading 1.9% lower at Rs 81,894 per 1 kg.

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.

NTPC's Green Energy Partnership

In news from the energy sector, NTPC shares were trading lower in early trade on 22 April after the company's wholly-owned subsidiary signed a Memorandum of Understanding (MoU) with Indus Towers.

NTPC Green Energy Limited (NGEL) is a wholly owned subsidiary of NTPC.

The MoU is to explore the joint development of grid-connected renewable energy-based power projects, including solar, wind, energy storage etc, and solutions thereof.

Indus Towers Limited aims to expand its renewable energy portfolio in a phased manner to giga-watt scale capacity for its business operations spread across the country, as a part of its net zero commitments.

Earlier this month, the company received an order from the State Tax Officer, Ghatak 57, Range -15, Division - 7, Surat, Gujarat, for collection of interest and penalty under Goods and Service Tax laws for Rs 289.3 m.

Also, it received an order from the Deputy Commissioner (ST), State Special Circle-I, Kunchanapalli, Guntur Distt. for Rs 79.1 m.

Value Stocks: For People Who Never Like Overpaying for Anything

The company will file an appeal before the First appellate authority of the applicable jurisdiction against the said orders within the prescribed timeline.

NTPC is a key player in the power sector, producing and distributing large quantities of electricity to various utility providers.

The power giant is committed to the development of renewable energy in the country and its potential to decarbonise the energy sector.

Why Honasa Consumer Share Price is Rising

Moving on to news from the FMCG sector, shares of Honasa Consumer Limited surged 4% to Rs 404 on 22 April afternoon after its skincare unit Derma Co achieved an annual revenue rate of Rs 5 bn.

The Derma Co had earlier crossed the Annual Revenue Rate (ARR) of Rs 350 crore in September 2023 and had also achieved an EBITDA positive status during the December quarter.

The company offers skincare products formulated with active ingredients to target skin concerns like acne, sun damage, dullness, and pigmentation. Its products are available through retail stores, online platforms, leading e-commerce sites, and select modern trade partner outlets.

--- Advertisement ---
Investment in securities market are subject to market risks. Read all the related documents carefully before investing

Are You Taking Advantage of The Potential Profit Opportunity In India's Emerging Business Space?

Find out our strategy to dig out hidden opportunity in small business stocks

I'm Interested
Details of our SEBI Research Analyst registration are mentioned on our website - www.equitymaster.com
---------------------------------------------

Shares of Honasa Consumer - the parent company of Mamaearth - made the stock exchange debut on 7 November last year and listed with a moderate gain of 2% over the issue price of Rs 324. Honasa Consumer claims to be the largest digital-first beauty and personal care company in India in terms of revenue from operations for the fiscal FY23.

Mamaearth, which was launched in 2016, has emerged as a fast-growing BPC brand in India to reach an annual revenue of Rs 10 bn within six years.

Why Persistent Systems Slumps 9%

Moving on to news from the software sector, shares of Persistent Systems (PSYS) tumbled more than 9% on 22 April, the biggest single-day drop in the stock since March 2018, a day after the IT services company's reported fourth-quarter earnings. A flat margin guidance for FY25 disappointed the street.

Persistent Systems also recommended a dividend of Rs 10 a share.

The IT player recorded a total contract value (TCV) of US$ 447.7 million, a slight decrease from the previous quarter's $475 million, which was its highest-ever deal win, the company said on 21 April.

During the earnings call, the company's management said its objective over the next 12 months is to sustain top-quartile growth in a challenging macro environment while maintaining margins at current levels.

The fourth quarter performance was beat on both the top and bottom lines but was a miss on operating margin due to high sub-con costs.

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!

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Sensex Today Rallies 622 Points | PSU Bank Stocks Shine | Tejas Networks Surges 17%". Click here!