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Sensex Ends 202 Points Lower; Britannia and Mahindra & Mahindra Among Top Nifty Losers
Fri, 23 Apr Closing | Nandini Mehta, TM Team

Indian share markets witnessed volatile trading activity throughout the day today and ended lower.

Benchmark indices witnessed volatile trading activity and swung between gains and losses amid muted investor sentiment across global markets and on record single-day spike of over 3 lakh Covid-19 cases for second consecutive day.

At the closing bell, the BSE Sensex stood lower by 202 points (down 0.4%).

Meanwhile, the NSE Nifty closed lower by 65 points (down 0.5%).

Power Grid Corp and NTPC were among the top gainers today.

Britannia and Mahindra & Mahindra, on the other hand, were among the top losers today.

The SGX Nifty was trading at 14,340, down by 62 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 0.2% and 0.4%, respectively.

Sectoral indices ended on a mixed note with stocks in the realty sector, telecom sector and FMCG sector witnessing most of the selling pressure.

Power stocks, on the other hand, witnessed buying interest.

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Shares of Tata Elxsi and Polycab India hit their respective 52-week highs today.

Power Grid Corp and Rallis India were among the top buzzing stocks today.

Asian stock markets were trading on a mixed note today.

The Shanghai Composite and the Hang Seng ended higher by 0.3% and 1.1%, respectively. The Nikkei ended lower by 0.6%.

US stock futures are trading on a positive note today with the Dow Jones Futures trading up by 61 points.

The rupee is trading at 75.01 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.1% today at Rs 47,821 per 10 grams.

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In news from the telecom sector...

Indus Towers was among the top buzzing stocks today.

Indus Towers Reports 38% Rise in Net Profit for the Fourth Quarter

On 22 April 2021, Indus Towers posted a net profit of Rs 13.6 billion for the January-March quarter, up 38%. The company's consolidated revenues stood at Rs 64.9 billion for the March 2021 quarter, up 3% year-on-year (YoY).

Its consolidated earnings before interest tax depreciation and amortization (EBITDA) increased 17% to Rs 34.1 billion in the January-March period.

For the full year 2021, consolidated profit after tax (PAT) stood at Rs 49.8 billion, a dip of 1% YoY, while revenues stood at Rs 256.7 billion.

As per the Q4 results for FY21, Indus Towers added net 3,715 towers across 22 telecom circles in India, beating the previous quarter's record of 3,416 additions.

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The company added net 4,128 co-locations but sharing revenue per tower declined by 5.9% to Rs 77,825. Co-locations are points where a tower company deploys mobile telecom antennae of multiple carriers on a single structure.

As of 31 March 2021, Indus owned and operated 1.8 lakh towers with 3.2 lakh co-locations across India.

Commenting on the Q4 scorecard, Bimal Dayal, MD and CEO of Indus Towers (formerly known as Bharti Infratel) termed FY2021 as a 'landmark year' for the company. "During the year, we completed the merger between Bharti Infratel and erstwhile Indus Towers. On the operational front, we continued our strong momentum in Q4FY21 and delivered the highest ever annual gross tower additions," Bimal Dayal said.

The world's largest tower company, formerly known as Bharti Infratel, was merged with Indus Towers in November last year.

The current market capitalization of Indus Towers stands at Rs 693.4 billion.

Indus Towers share price ended the day down by 2.3% on the BSE.

We will keep you updated on the latest news from this space. Stay tuned.

Moving on to news from the energy sector

Reliance Industries Buys Britain's Iconic Country Club and Luxury Golf Resort - Stoke Park

Reliance Industries, controlled by billionaire Mukesh Ambani, bought Stoke Park for Rs 5.9 billion, adding an iconic locale that's been the setting for two James Bond films to its portfolio of tourism properties.

A wholly owned unit of Reliance Industries will buy Stoke Park, which owns and manages a hotel, sports and leisure facilities in Buckinghamshire, said in a statement.

The acquisition will add to Reliance's consumer and hospitality assets.

Stoke Park has 49 luxury bedrooms and suites, 27-hole championship golf course, 13 tennis courts and 14 acres of private gardens which attracts wealthy tourists from across the world.

The latest marquee acquisition for Mukesh Ambani's retail-to-refining conglomerate marks its pivot toward consumer offerings and yet another high-profile British brand purchase. Reliance Industries bought struggling UK-based toy store chain Hamleys in 2019 and is seeking to revive it.

Flush with US$ 27 billion in fresh capital after selling stakes in Reliance's retail and digital units last year, Mukesh Ambani is helming a transformation as he seeks to build consumer services into an equal-sized pillar for Reliance Industries, paring dependence on profits from its traditional oil refining business. Acquiring marquee global brands underscores that strategy.

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Reliance Industries share price ended the day down by 0.1% on the BSE.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

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Read the latest Market Commentary

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Stock Market Updates

Sensex Trades Marginally Lower, Dow Futures Up by 174 Points (Today's Market)

May 14, 2021 12:30 pm

BSE Sensex is trading down by 29 points, while the NSE Nifty is trading down by 39 points.

Sensex Opens Flat; Asian Paints Rallies 7% Post Q4 Results (Today's Market)

May 14, 2021 09:30 am

Indian share markets open flat. The BSE Sensex opened down by 33 points, while the Nifty is trading lower by 14 points.

ADANI TOTAL GAS Share Price Down by 5%; BSE 500 Index Down 0.1% (Today's Market)

May 14, 2021 09:34 AM

ADANI TOTAL GAS share price is trading down by 5% and its current market price is Rs 1,330. The BSE 500 is down by 0.1%. The top gainers in the BSE 500 Index are ASIAN PAINTS (up 6.7%) and BANK OF INDIA (up 5.7%). The top losers are ADANI TOTAL GAS (down 5.2%) and VINATI ORGANICS (down 7.1%).

JINDAL STEEL & POWER Share Price Down by 5%; BSE METAL Index Down 2.4% (Today's Market)

May 14, 2021 09:32 AM

JINDAL STEEL & POWER share price is trading down by 5% and its current market price is Rs 466. The BSE METAL is down by 2.4%. The top losers are JINDAL STEEL & POWER (down 5.3%) and NMDC (down 5.3%).

BANK OF INDIA Share Price Up by 5%; BSE BANKEX Index Up 0.3% (Today's Market)

May 14, 2021 09:28 AM

BANK OF INDIA share price is trading up by 5% and its current market price is Rs 77. The BSE BANKEX is up by 0.3%. The top gainers in the BSE BANKEX Index is BANK OF INDIA (up 5.2%). The top losers is HDFC BANK (down 0.2%).

GRINDWELL NORTON Share Price Up by 8%; BSE CAPITAL GOODS Index Up 0.4% (Today's Market)

May 14, 2021 09:26 AM

GRINDWELL NORTON share price is trading up by 8% and its current market price is Rs 1,259. The BSE CAPITAL GOODS is up by 0.4%. The top gainers in the BSE CAPITAL GOODS Index is GRINDWELL NORTON (up 7.7%). The top losers are L&T (down 0.3%) and V GUARD INDUSTRIES (down 0.4%).

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