Sensex Rallies 558 Points, Nifty Ends Above 14,650; Hindalco & Tata Steel Surge Over 4%

Tue, 27 Apr Closing

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

Benchmark indices rallied for the second consecutive day today, bucking the weak trend in Asian share markets, helped by gains in metal, capital goods and energy stocks.

At the closing bell, the BSE Sensex stood higher by 558 points (up 1.2%).

Meanwhile, the NSE Nifty closed higher by 168 points (up 1.5%).

Hindalco and Tata Steel were among the top gainers today.

HDFC Life Insurance and SBI Life Insurance, on the other hand, were among the top losers today.

The SGX Nifty was trading at 14,652, up by 165 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1% and 1.6%, respectively.

On the sectoral front, gains were largely seen in the metal sector, capital goods sector and energy sector.

Shares of Navin Fluorine and Deepak Nitrite hit their respective 52-week highs today.

Tech Mahindra and HDFC Life Insurance were among the top buzzing stocks today.

Asian stock markets were trading on a negative note today.

The Shanghai Composite ended marginally higher by 0.04%, while the Hang Seng ended marginally lower by 0.04%.

The Nikkei ended the day down by 0.5%.

US stock futures are trading on a flat note today with the Dow Jones Futures trading down by 29 points.

The rupee is trading at 74.65 against the US$.

Gold prices for the latest contract on MCX are trading on a flat note today at Rs 47,460 per 10 grams.

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In news from the auto sector, Tata Motors was among the top buzzing stocks today.

On 27 April 2021, automobile major Tata Motors said that the lockdown enforced in various parts of the country is expected to impact vehicle demand temporarily.

The auto major also said it remains vigilant about the evolving Covid-19 situation and has scaled up efforts to enhance the well-being of its personnel and their supporting ecosystem.

"The lockdown enforced in various parts of the country is expected to impact vehicle demand temporarily. Hence, the company has set in motion a comprehensive 'Business Agility Plan' to protect and serve the interests of its customers, dealers and suppliers," Tata Motors said in an official

statement.

The company further added, "By carefully calibrating and matching supplies with retail demand, Tata Motors shall ensure that optimal levels of inventory are maintained with dealers to meet whatever customer demands arise and also be prepared for a rebound in demand once the situation returns to normalcy".

It will also continue to review and plan for the critical raw materials to cater to this volatile demand outlook and work closely with its vendor partners to meet the same.

In March 2021, Tata Motors' total domestic market sales increased by 504.9% to 66,609 units. The automaker had sold 11,012 units in the domestic market in the year-ago month.

The company sold 29,654 units of passenger vehicle (PV) in March 2021, compared to 5,676 units in March 2020.

Tata Motors sold 36,955 units of commercial vehicle (CV) in March 2021, compared to 5,336 units in the same month last year.

Tata Motors share price ended the day up by 2% on the BSE.

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

Moving on to news from the finance sector...

SBI Cards Share Price Surge After Reporting Strong Q4 Results

On 26 April 2021, SBI Cards and Payment Services reported profit after tax (PAT) at Rs 1.8 billion in the January to March quarter, up 110% from Rs 840 million in the corresponding period of previous fiscal.

The return on average assets came at 2.6% in Q4 FY21 versus 1.3%, while the return on average equity was at 11.2% versus 6.5% in Q4 FY20.

The capital adequacy ratio was 24.8%, compared to 22.4% in Q4 FY20. As per capital adequacy norms, the company's capital to risk ratio consisting of tier one and tier two capital should not be less than 15% of its aggregate risk weighted assets on balance sheet and of risk adjusted value of off-balance sheet items.

However, SBI Cards total income dropped to Rs 24.7 billion from Rs 25.1 billion. Asset quality too deteriorated with gross non-performing assets at 5% of gross advances as against 2% in Q4 FY20.

For the financial year ended March 31, total income was at Rs 97.1 billion for FY21 versus Rs 97.5 billion for FY20.

The profit after tax (PAT) stood at Rs 9.9 billion for FY21 versus Rs 12.5 billion in the previous fiscal.

The total balance sheet size of the company as on 31 March 2021 was Rs 270.1 billion as against Rs 253.1 billion as on same date of last year.

SBI Cards and Payment Services share price ended the day up by 3.9% on the BSE.

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

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

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