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TRAI Data for February, Siemens March Quarter Performance, and Buzzing Stocks Today
Fri, 14 May Pre-Open | Monish Vora, TM Team

Indian share markets witnessed selling pressure on Wednesday and ended lower.

Benchmark indices extended losses and ended deep in the red, tracking a sell-off in global shares amid surging commodity prices and growing inflationary pressure in the US.

At the closing bell on Wednesday, the BSE Sensex stood lower by 471 points (down 1%).

Meanwhile, the NSE Nifty closed lower by 154 points (down 1%).

Tata Motors and Titan Company were among the top gainers.

Tata Steel and JSW Steel, on the other hand, were among the top losers.

The BSE Mid Cap index and the BSE Small Cap index ended down by 0.9% and 0.6%, respectively.

Sectoral indices ended on a negative note with stocks in the metal sector and banking sector witnessing most of the selling pressure.

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

Shares of Godrej Consumer and Venkys hit their respective 52-week highs.

At 8:00 am today, the SGX Nifty was trading down by 38 points, or 0.3% lower at 14,670 levels. Indian share markets are headed for a negative opening today following the trend on SGX Nifty.

Gold prices for the latest contract on MCX were trading on a flat note today at Rs 47,597 per 10 grams at the time of closing stock market hours on Wednesday.

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Top Stocks in Focus Today

Among the buzzing stocks today will be Siemens.

Siemens posted an over 90% rise in consolidated net profit at Rs 3.3 bn for the March quarter, mainly on the back of higher revenues. The company had posted a consolidated net profit of Rs 1.8 bn in the quarter ended March 2020.

Total income of the company rose to Rs 35.4 bn in the March quarter from Rs 27.2 bn in the same period a year ago with revenue from continuing operations up by 29.6% at Rs 33 bn.

The company follows the October to September financial year.

Siemens registered new orders from continuing operations of Rs 33.1 bn during the quarter, registering a 16.9% increase over the same period last year. The order backlog stands at a healthy Rs 126.7 bn, it added.

Godrej Consumer Products will also be in focus today as the company said Sudhir Sitapati will take over as its managing director and CEO in October this year.

Sitapati is presently executive director - Foods and Refreshments at HUL.

His appointment would be effective from 18 October 2021, following which Nisaba Godrej, who is currently the chairperson and managing director, will serve as executive chairperson.

Earlier this week on Monday, HUL had informed that Sitapati is stepping down. Srinandan Sundaram was named as his replacement.

According to the Godrej group firm, the appointment of Sitapati, who has spent 22 years at HUL, will enable Godrej Consumer to leverage his significant experience in building sustainable and profitable businesses to guide the growth strategy going forward.

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TRAI Data: Mobile Subscriber Base Increases in February

According to Telecom Regulatory Authority of India (TRAI) data, India's largest telecom operator Reliance Jio widened its mobile subscriber base to 414.9 million in February, with healthy addition of 4.2 million users, as it managed a comfortable lead in the market.

In fact, all three private operators Reliance Jio, Bharti Airtel and Vodafone Idea added subscribers during the month.

Industry watchers attributed the strong market momentum to positive business sentiments prevailing in February, weeks before the deadly second wave of the Covid-19 pandemic swept through the nation.

As per sector regulator's data, Bharti Airtel logged 3.7 million net adds, taking its wireless user base in February to 348.3 million.

Notably, Vodafone Idea added 6.5 lakh users (after many months), as it expanded its user base to 282.6 million in February.

Overall, Jio topped net additions in February, the Mukesh Ambani-led company saw a healthy rebound in subscriber net adds at 4.2 million in February, higher than 1.9 million additions in January, while Bharti Airtel's net adds in January had been 5.8 million.

As per subscriber data released by TRAI on Tuesday, the total wireless subscribers increased to 1.7 billion at the end of February 2021, logging monthly growth rate of 0.7%.

Wireless subscription in urban areas rose to 639.2 million at the end of February (633.3 million in January), while in rural areas wireless subscription increased to 528.5 million during the same period (from 526.2 million).

Monthly growth rates of urban and rural wireless subscription were 0.9% and 0.4%, respectively, TRAI said.

As on February 2021, the private companies held as much as 89.6% market share of the wireless subscribers, whereas state-owned telecom corporations BSNL and MTNL, had a market share of only 10.4%.

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New Rules for Dividend Distribution Policy for Top 1,000 Listed Firms

Moving on to news from the financial markets space, to strengthen corporate governance practices and disclosure requirements, the markets regulator has notified new rules, including that top 1,000 listed firms will have to formulate a dividend distribution policy.

In a notification, it said the requirement for formulation of dividend distribution policy by the existing top 500 listed entities has been extended to the top 1,000 listed entities on the basis of market capitalisation.

For the purpose of this clause, market capitalisation should be calculated as on 31 March of every financial year.

The regulator has also put in place a framework in relation to applicability, constitution and role of the Risk Management Committee (RMC) and eased norms for re-classification of a promoter as a public shareholder, according to a notification dated May 5.

In addition, the regulator has asked listed firms to make available audio and video recordings of analyst and investor meets on their websites as well as stock exchanges within 24 hours or before the next trading day and also notified rules regarding Business Responsibility and Sustainability Report (BSSR).

Also, written transcripts of post-earning conference need to be made available on websites of listed companies and respective stock exchanges within five working days after such calls.

The regulator has amended listing of obligations and disclosure requirements (LODR) rules, and the new rules have come into effect from May 5.

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

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


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Stock Market Updates

ADANI PORTS & SEZ Share Price Down by 8%; BSE 500 Index Down 0.1% (Today's Market)

Jun 14, 2021 03:19 PM

ADANI PORTS & SEZ share price is trading down by 8% and its current market price is Rs 783. The BSE 500 is down by 0.1%. The top gainers in the BSE 500 Index are FDC (up 12.7%) and DEEPAK FERTILISERS (up 12.2%). The top losers are ADANI PORTS & SEZ (down 7.9%) and ADANI ENTERPRISES (down 5.7%).

Sensex Trades Marginally Lower, Dow Futures Up by 44 Points (Today's Market)

Jun 14, 2021 12:30 pm

BSE Sensex is trading down by 197 points, while the NSE Nifty is trading down by 65 points.

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

Jun 14, 2021 09:51 AM

WIPRO share price has hit an all time high at Rs 560 (up 0.4%). The BSE IT Index is up by 0.4%. Among the top gainers in the BSE IT Index today are WIPRO (up 0.4%) and L&T INFOTECH (up 0.1%). The top losers include HEXAWARE TECHNOLOGIES and HCL TECHNOLOGIES (down 0.3%).

Sensex Falls 300 Points, Nifty Below 15,700; Adani Group Stocks Tumble (Today's Market)

Jun 14, 2021 09:30 am

Indian share markets open lower. The BSE Sensex opened down by 334 points, while the Nifty is trading lower by 110 points.

PARAG MILK FOODS Share Price Down by 8%; BSE 500 Index Down 0.9% (Today's Market)

Jun 14, 2021 09:31 AM

PARAG MILK FOODS share price is trading down by 8% and its current market price is Rs 142. The BSE 500 is down by 0.9%. The top gainers in the BSE 500 Index are ECLERX SERVICES (up 13.6%) and RELIANCE CAPITAL (up 5.0%). The top losers are PARAG MILK FOODS (down 7.7%) and ADANI ENTERPRISES (down 10.0%).

THYROCARE TECHNOLOGIES at All Time High; BSE HEALTHCARE Index Down 1.1% (Today's Market)

Jun 14, 2021 09:31 AM

THYROCARE TECHNOLOGIES share price has hit an all time high at Rs 1,249 (down 0.3%). The BSE HEALTHCARE Index is down by 1.1%. Among the top gainers in the BSE HEALTHCARE Index today are THYROCARE TECHNOLOGIES (down 0.5%) and DIVIS LABORATORIES (up 0.5%). The top losers include PROCTER & GAMBLE HEALTH and SANOFI INDIA .

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