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Tata Consumer March Quarter Results, M&M's Advanced Design Centre, and Buzzing Stocks Today
Mon, 10 May Pre-Open | Monish Vora, TM Team

Indian share markets ended higher on Friday.

Benchmark indices edged higher tracking gains in index majors HDFC twins and positive cues from global markets.

At the closing bell on Friday, the BSE Sensex stood higher by 257 points (up 0.5%).

Meanwhile, the NSE Nifty closed higher by 98 points (up 0.7%).

Tata Steel and Hindalco were among the top gainers.

Tata Consumer Products and Bajaj Auto, on the other hand, were among the top losers.

The BSE Mid Cap index ended the day on a flat note, while the BSE Small Cap index ended up by 0.2%.

Sectoral indices ended on a positive note with stocks in the metal sector and telecom sector witnessing most of the buying interest.

Shares of Wipro and Bajaj Finserv hit their respective 52-week highs.

At 8:00 am today, the SGX Nifty was trading up by 142 points, or 1% higher at 15,010 levels. Indian share markets are headed for a gap-up opening today following the positive trend on SGX Nifty.

Gold prices for the latest contract on MCX were trading up by 0.1% at Rs 47,636 per 10 grams at the time of closing stock market hours on Friday.

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Top Stocks in Focus Today

Among the buzzing stocks today will be Zensar Technologies.

Zensar Technologies witnessed buying yesterday after the UK-based fintech company, Infinity Circle, selected Zensar for end-to-end development of its next-gen wealth management platform.

Zensar announced that it has been selected by Infinity Circle, a UK-based fintech company in the wealth management space. Zensar will be the design and technology services partner with the scope of engagement spanning across branding, UX, CX design, core platform development, global launch, and ongoing support services.

Adani Transmission share price will be in focus as the company plans to invest Rs 30 billion in its transmission business and Rs 15 billion in the Mumbai electricity distribution business in 2021-22, as it aims to continue its expansion plan.

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In FY21, the company added 2,536 circuit km to its power transmission network, driven by organic and inorganic growth taking the total network to 17,2762,536 circuit km.

The company last week reported a net profit of Rs 2.6 billion in the fourth quarter of FY21 as against Rs 0.6 billion a year ago. Revenue in the quarter rose 3% YoY to Rs 22.8 billion.

For the year ended March, the company reported net profit of Rs 12.9 billion, up 82%. However, revenue declined 14% to Rs 88.4 billion.

Adani Transmission said that power demand and bill collection in the Mumbai electricity distribution area was impacted in the first half of FY21 due to the disruption caused by the Covid-19 pandemic but the company saw improvement on both accounts in the second half.

Tata Consumer Q4FY21 Results: Net Profit Slumps 44% Sequentially, Margin Contracts

Tata Consumer Products saw a fall in quarterly consolidated profit and a contraction in margin over the preceding three months as expenses rose.

Net profit of Tata Tea and Tata Salt maker declined 44% sequentially to Rs 1.3 bn in the January-March period, according to an exchange filing.

While India beverages and foods businesses maintained revenue, the international beverage business revenue declined versus the December quarter.

"Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) growth for the quarter was impacted by tea inflation in India and increased investments, that more than offset the strong EBITDA growth in India food and International business," the company said in its earnings presentation.

During the year, Tata Salt gained market share with its value-added salts portfolio growing faster, which is in line with the company's premiumisation strategy. The company added five new products to its ready-to-cook category under the "Tata Sampann" brand. They include "haldi doodh" mix, "masala daliya khichdi" mix, dhokla mix, supergrain ragi idli and supergrain ragi dosa mixes.

"In line with our strategic priority of exploring new opportunities, the health and wellness focused foods portfolio was further enhanced through acquisition of Kottaram Agro Foods (Soulfull brand)-now renamed as Tata Consumer Soulfull," the company said in an exchange filing. "This opens significant opportunities in the fast growing 'on the table' and 'on the go' segments."

The company said integration of its India foods and beverages businesses is now complete. "A redesigned sales and distribution system is in place with digitisation across channel partners, a new integrated business planning system covering demand and supply planning is now live."

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

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Mahindra & Mahindra to Set Up Advanced Design Centre for Mobility Products

Mahindra & Mahindra share price will be in focus today as the company announced that Mahindra Advanced Design Europe (MADE) is being set up in the West Midlands, and the new Centre of Excellence (CoE) will be a part of the Mahindra global design network that includes the Mahindra design studio in Mumbai, and Pininfarina design in Turin (Italy).

The same will be operational from 1 July 2021, and will also support the creation of highly skilled design roles, drawing from Coventry University, Royal College of Art, and other design colleges in the UK and Europe.

In a statement, Mahindra & Mahindra (M&M) said "MADE is a strategic enhancement of Mahindra's global design capabilities and renews its commitment to bring to its customers, sophisticated, authentic SUVs with an unmissable presence".

The new design centre will further sharpen Mahindra's distinctive product designs and differentiated technology offerings to further its safe, thrilling, yet efficient connected car experiences, M&M said.

Commenting on the new centre, M&M Executive Director Rajesh Jejurikar said, "A key lever to make the business future-ready is to significantly strengthen design capability across automotive, farm equipment and two-wheelers globally".

"MADE will contribute to all future automotive and mobility products, including Born EV SUVs and be a resource available to Mahindra group companies. It will give us a quantum leap in both capacity and capability in the design space," he added.

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

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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Stock Market Updates

Sensex Trades Marginally Higher, Dow Futures Up by 85 Points (Today's Market)

Jul 23, 2021 12:30 pm

BSE Sensex is trading up by 180 points, while the NSE Nifty is up by 45 points.

Sensex Opens Marginally Lower; L&T and Bajaj Finance Top Losers (Today's Market)

Jul 23, 2021 09:30 am

Indian share markets open marginally lower. The BSE Sensex opened down by 151 points, while the Nifty is trading lower by 42 points.

PERSISTENT SYSTEMS Share Price Up by 6%; BSE IT Index Up 0.4% (Today's Market)

Jul 23, 2021 09:38 AM

PERSISTENT SYSTEMS share price is trading up by 6% and its current market price is Rs 3,081. The BSE IT is up by 0.4%. The top gainers in the BSE IT Index are PERSISTENT SYSTEMS (up 5.8%) and MPHASIS (up 9.0%). The top losers are FIRSTSOURCE SOLUTIONS (down 0.4%) and L&T TECHONOLOGY (down 0.8%).

WIPRO at All Time High; BSE IT Index Up 0.4% (Today's Market)

Jul 23, 2021 09:38 AM

WIPRO share price has hit an all time high at Rs 590 (up 0.3%). The BSE IT Index is up by 0.4%. Among the top gainers in the BSE IT Index today are WIPRO (up 0.3%) and COFORGE (up 1.0%). The top losers include HEXAWARE TECHNOLOGIES and FIRSTSOURCE SOLUTIONS (down 0.4%).

TATA STEEL at All Time High; BSE METAL Index Up 0.3% (Today's Market)

Jul 23, 2021 09:38 AM

TATA STEEL share price has hit an all time high at Rs 1,295 (up 1.1%). The BSE METAL Index is up by 0.3%. Among the top gainers in the BSE METAL Index today are TATA STEEL (up 1.1%) and JSW STEEL (up 0.2%). The top losers include COAL INDIA (down 0.1%) and NMDC (down 0.1%).

HINDUSTAN COPPER Share Price Up by 6%; BSE METAL Index Up 0.3% (Today's Market)

Jul 23, 2021 09:38 AM

HINDUSTAN COPPER share price is trading up by 6% and its current market price is Rs 147. The BSE METAL is up by 0.3%. The top gainers in the BSE METAL Index is HINDUSTAN COPPER (up 5.5%). The top losers are COAL INDIA (down 0.1%) and NMDC (down 0.1%).

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