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Sensex Today Ends 318 Points Higher, Nifty Nears 18,400 | Realty Index Jumps 4% | DLF & Tata Motors Top Gainers
Mon, 15 May Closing

Sensex Today Ends 318 Points Higher, Nifty Nears 18,400 | Realty Index Jumps 4% | DLF & Tata Motors Top Gainers

After opening the day on a positive note, Indian share markets gained momentum as the session progressed and ended higher.

Benchmark indices advanced today as investors welcomed strong earnings from Tata Motors which added to the optimism over cooling domestic and wholesale and retail inflation.

WPI inflation fell by 0.9% and CPI inflation moderated to 4.7% in April 2023, dipping below the RBI's upper tolerance threshold of 6%.

At the closing bell, the BSE Sensex stood higher by 318 points (up 0.5%).

Meanwhile, the NSE Nifty closed up by 84 points (up 0.5%).

HUL and ITC were among the top gainers today.

Cipla and BPCL on the other hand, were among the top losers today.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

The SGX Nifty was trading at 18,415, up by 91 points, at the time of writing.

Broader markets ended on a positive note with both the BSE Midcap index and the BSE Smallcap index ending 0.5% higher.

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

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On the other hand, stocks from the power sector and oil & gas sector witnessed selling pressure.

Shares of Tata Motors and Titan hit their 52-week highs.

Asian stock markets ended on a positive note. The Nikkei ended 0.8% higher, while the Hang Seng ended 1.8% higher. The Shanghai Composite ended 1.2% higher.

The rupee is trading at 82.3 against the US$.

Gold prices for the latest contract on MCX are trading higher by 0.2% at Rs 60,996 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading higher by 0.4% at Rs 73,317 per kg.

Speaking of stock markets, the Indian share markets have remained quite volatile in recent weeks.

Even a genius mathematician was once a victim of such market volatility. Instead of going with near-term trends and speculative bets on stocks like Infosys and HDFC Bank, it is important to study their long-term financials and valuations carefully.

Especially, if you are considering these stocks as your 10-year bets.

Co-head of Research at Equitymaster Tanushree Banerjee, in her latest video talks about which is the best 10-year bet if you are to choose between Infosys and HDFC Bank.

Kalyan Jewellers Q4 Results

In news from the jewellery sector, Kalyan Jewellers on Monday clocked an 18.4% YoY rise in the March 2023 quarter revenue at Rs 33.8 bn against Rs 28.6 bn a year back.

Net profit for the quarter came in at Rs 710 m, up 1.6% YoY. The company reported a net profit of Rs 720 m in the same quarter of the previous financial year.

The board has recommended a final dividend of Rs 0.5 paise, which is 5% per equity share of Rs 10 each, for fiscal 2023.

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Its Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) was recorded at Rs 2.6 bn, up 17.5% compared to Rs 2.2 bn in the same quarter last year.

Margins were flat at 7.6% YoY.

Kalyan Jewellers plans to open 52 showrooms in the non-South markets in 2023 at an investment of Rs 13 bn borne by the franchisee.

Non-South markets contribute to 35% of the company's India business, and Kalyan aims to take it to 50% by 2025.

The company is working with the Franchise-owned Company Operated (FOCO) model.

The company's shares have experienced a decline of over 12% so far this year, with a loss of 6% in March 2022.

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To know what dragged the stock down, check out why Kalyan Jewellers share price is falling.

SpiceJet's Subsidiary secures US$ 100 million investment

SpiceJet's Subsidiary, SpiceXpress, on Monday, announced that it will receive a significant investment of US$ 100 million (m) from a UK-based group.

The investment is expected to provide a boost to the aviation industry in India and support SpiceXpress in expanding its operations.

Both sides have signed a Memorandum of Understanding (MoU) as part of the investment deal.

The MoU also comes after a debt restructuring agreement between the carrier and aircraft lessor Carlyle Aviation Partner wherein the latter bought a stake in SpiceXpress at an anticipated future valuation of US$ 1.5 bn.

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SRAM & MRAM Group has interests in agricultural and agro-food products, neural networks, artificial intelligence, hedge fund management, hospitality services and solutions, media and publishing, among other areas. SpiceJet had recently hived off SpiceXpress.

So far this month, lessors have sought the deregistration of five SpiceJet planes, a development that also comes against the backdrop of crisis-hit rival Go First shuttering operations and going for resolution proceedings under the insolvency law.

The entire airline sector took a beating when the first covid wave hit in 2020.

But with the onset of 2022, the industry has picked up the pace and started to recover. To know whether it is wise time to invest in airline stocks, check out Airlines stocks: time to deplane?

EaseMyTrip partners Swiggy

EaseMyTrip, a leading online travel-tech platform in India, has teamed up with Swiggy, India's leading on-demand convenience delivery platform, to create a unique offering that benefits consumers of both brands.

EaseMyTrip will promote exclusive Swiggy offers to its user base and will have EaseMyTrip's offers via banner visibility on the post-transactional screen of the Swiggy app, resulting in greater visibility for both brands.

This unique campaign enables the brands to tap into each other's user base. For EaseMyTrip users, they will be showcased enticing deals from Swiggy, making their travel-planning experience more inclusive. EaseMyTrip is expected to gain visibility among the millions of users on Swiggy.

EaseMyTrip, listed under the name Easy Trip Planner is a leading travel agency in India.

For a fundamental analysis, check out Equitymaster's Indian stock screener, which has a separate screen for top travel and tourism companies in India.

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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