Indian Indices End Flat; Maruti Suzuki and UPL Among Top Nifty Gainers

Tue, 22 Jun Closing

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Indian share markets witnessed volatile trading activity today and ended on a flat note.

Benchmark indices climbed off the record highs scaled in the early deals and ended on a flat note, dragged by index heavyweights such as Reliance Industries, Bajaj Finance and Asian Paints along with select financial and real estate counters.

At the closing bell, the BSE Sensex stood higher by 14 points (up 0.1%).

Meanwhile, the NSE Nifty closed higher by 26 points (up 0.2%).

Maruti Suzuki and UPL were among the top gainers today.

Bajaj Finance and Asian Paints, on the other hand, were among the top losers today.

The SGX Nifty was trading at 15,748, up by 20 points, at the time of writing.

The BSE MidCap index and the BSE SmallCap index ended up by 0.3% and 0.8%, respectively.

Sectoral indices ended on a mixed note with stocks in the engineering sector, power sector and auto sector witnessing most of the buying interest.

Realty and banking stocks, on the other hand, witnessed selling pressure.

Shares of Venkys and Tata Consumer Products hit their respective 52-week highs today.

Asian stock markets ended on a positive note today.

The Hang Seng ended down by 0.6%, while the Shanghai Composite ended the day up by 0.8%.

The Nikkei ended up by 3.1% in today's session.

US stock futures are trading on a flat note today with the Dow Futures trading down by 1 point.

The rupee is trading at 74.36 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.1% at Rs 47,118 per 10 grams.

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani shares what happened at the Robin Hood Conference, in his latest video for Fast Profits Daily.

Tune in to the video below to find out more:

In news from the auto sector, Maruti Suzuki was among the top buzzing stocks today.

Shares of the country's largest car maker Maruti Suzuki surged over 5% to hit an intraday high of Rs 7,299 per share on the BSE today, a day after it undertook price hikes for its vehicles.

Maruti Suzuki, will increase car prices in the July-September quarter to offset input price hikes.

Over the past year, the cost of the company's vehicles continues to be adversely impacted due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact of additional cost to customers through a price rise. The price rise has been planned in quarter 2 and the increase shall vary for different models', Maruti Suzuki said in a statement.

This will be the second round of price increase by the Delhi-based company in this financial year.

The maker of Swift and Baleno had raised prices by around 1.6% in the April-June quarter. The price was raised to mitigate the jump in input costs.

Apart from that, the country's largest carmaker reported a 71% decline in total sales to 46,555 units in May as compared to 1.6 lakh units in April as a spike in Covid-19 cases and lockdowns across various states hit dispatches.

The company said its domestic dispatches to dealers last month stood at 35,293 units, down 75% from 1.4 lakh units in April.

The auto major had also shut production from May 1 through May 16 so as to divert oxygen from industrial use for medical purposes.

Maruti Suzuki share price ended the day up by 5% on the BSE.

Moving on to news from the IT sector...

Info Edge Shares Fell 2% on Disappointing March Quarter Results

Info Edge (India), the parent company of subsidiaries such as Naukri.com and Jeevan Saathi, announced its results for the fourth quarter on Monday.

Shares of Info Edge slipped over 2% at Rs 4,853 per share on the BSE today, in an otherwise strong market, after the company witnessed weakness in its operating performance during the quarter.

The company reported 60.2% rise in standalone net profit to Rs 666.8 m on 10.2% fall in net sales to Rs 2.9 bn in the fourth quarter of 2021 against the same period last year.

On a standalone basis, the company's net profit increased by 13.7% to Rs 2.7 bn on a 31.7% decline in net sales to Rs 11 bn in the financial year over the last year.

Its revenue from recruitment solutions segment was at Rs 2 bn, down 13.9% year on year (YoY), revenue from 99acres for real estate was at Rs 500.9 m, down 11.1% YoY in the March quarter.

The company reported a 44.9% YoY decline in operating earnings before interest, taxes, depreciation, and amortisation (EBITDA) at Rs 532 m during the quarter.

However, the company has seen improving billing growth both YoY and quarter on quarter (QoQ).

Billing increased 25.1% YoY and 39.8% QoQ to Rs 4.2 bn during the fourth quarter, mainly led by a 26% YoY growth in recruitment and 41.5% YoY growth in 99 acres billing.

As compared to the quarter four of 2019 (a pre-pandemic quarter), the company's overall billing was up 15%.

Commenting on the results, Mr Chintan Thakkar, CFO said,

• We have witnessed continued recovery during the quarter, led by billings growth in Naukri India and 99acres by 26.0% and 41.5%respectively, over quarter four billings of financial year 20202.
  
  As compared with quarter four of fiscal 2019, a pre-pandemic quarter, the billings in Naukri India and 99acres have grown 16.7% and 7.5% respectively.

Info Edge share price ended the day down by 2.2% on the BSE.

Speaking of stocks, here's a pattern that if you see, you must sell your position. After all, exits are more important than entries.

In the chart below, we can see the head and shoulder pattern - the stock goes up, makes a high, falls a little bit, goes up to a higher high, does not make a higher low, rallies again, fails to make a new high, and then starts to break down.

INCLUDEPICTURE "https://www.eqimg.com/profit-hunter/images/2020/09252020-image-equitymaster.jpg" \* MERGEFORMATINET

This usually happens in a situation where a stock or index has typically been in a bull trend for a while. Spotting this correctly can help you save money.

If you're interested in trading and want to know how you can use this pattern, you can read about it in one of the editions of Profit Hunter here: It's When You Sell that Counts

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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