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SGX Nifty Trades Lower, Tata Steel Q4 Performance, March Quarter Results, and Buzzing Stocks in Focus Today
Wed, 1 Jul Pre-Open | Monish Vora, TM Team

Indian share markets ended marginally lower yesterday.

Benchmark indices gave up early gains in the last hour of trading, amid negative opening in European markets and weakness in SGX nifty.

At the closing bell yesterday, the BSE Sensex stood lower by 46 points. The NSE Nifty closed down by 10 points.

The BSE Mid Cap index ended down by 0.2%, while the BSE Small Cap index ended down by 0.8%.

At 8:15 am today, the SGX Nifty was trading down by 36 points, or 0.34% lower at 10,240 levels. Indian share markets are headed for a negative opening today following the negative trend on SGX Nifty.

Sectoral indices ended on a mixed note with stocks in the telecom sector and energy sector witnessing selling pressure.

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

Asian stock markets rose yesterday after data showed China's manufacturing sector grew more than expected in June, a hopeful sign for a global economy still struggling to recover from the sweeping impact of the coronavirus crisis.

Sentiment in the region, which got a boost from overnight gains on Wall Street thanks to strong housing data, got a further lift from a survey in China showing a quickening in activity in its vast factory sector.

Speaking of the current stock market scenario, the last few months have witnessed the kind of shifts that most investors would recall as once in a lifetime.

The Sensex is up 34% from the lows in March 2020. At that time, it had declined by over 20%. That seemed to suggest the start of a bear market.

What's Driving the Markets?

So, what's driving the markets?

As per Richa Agarwal, editor of our premium smallcap service Hidden Treasure, an important driver of this rally is the inflow from global funds, now that the global economies have opened the liquidity tap.

A lot of this money is coming to the mid and smallcap space.

In her latest video, Richa shares her thoughts on what this could mean for the rebound in smallcaps and how to make the most of it.

Tune in to find out more...

Top Stocks in Focus Today

SJVN share price will be in focus today as the state-run power producer reported a 13% decline in consolidated net profit to Rs 4 billion for the January-March quarter compared to the year-ago period.

The consolidated net profit was Rs 4.6 billion in the quarter ended on March 31, 2019.

Total income in the quarter declined to Rs 7 billion from Rs 8.7 billion in the same period last year.

For the year ended 2019-20, the company's consolidated net profit rose to Rs 16.6 billion, from Rs 13.7 billion in 2018-19.

The board has recommended a final dividend of Rs 0.50 per share of 10 each for 2019-20 subject to the approval of shareholders in the ensuing Annual General Meeting.

Shares of Bharat Dynamics will also be among the top buzzing stocks today as the company's net profit more-than-doubled to Rs 3,097.2 million in the March quarter (Q4FY20) on the back of strong operational income.

The state-owned defence company had logged a profit of Rs 1,241.2 million in the year-ago quarter.

The company's revenue from operations during the quarter under review rose 64% to Rs 14.4 billion from Rs 8.8 billion in the corresponding quarter of the previous fiscal.

The company said it did not have any significant impact on the sales and operations of the company for the financial year 2019-20 on account of the Covid-19 pandemic.

The board of directors of the company recommended a final dividend at Rs 2.55 per share (face value of Rs 10 each) for the year ended March 2020.

Ruchi Soya Reports Loss of Rs 412 Million in March Quarter

Ruchi Soya reported a net loss of Rs 412.5 million for the quarter ended March 31, as against a profit of Rs 321.1 million in the corresponding period a year ago.

The total income was up 1% compared to the year-ago period. Ruchi Soya shares fell as much as 5% yesterday.

Revenue from the oil business grew 4.5%, whereas that from seed extraction and food products units declined 33.3% and 0.9% respectively.

However, profit for the full financial year grew 100 times. Revenue increased 2.7% in FY20.

The company stated that the coronavirus (COVID-19) pandemic in the country and around the globe is causing significant disturbance and slowdown of economic activity.

Measures taken to contain the spread of the coronavirus have triggered significant disruptions to businesses worldwide, resulting in an economic slowdown.

Though the distribution and supply chain network has been impacted but the company is ensuring the movement of edible oils and soya food products to the end consumers.

However, the company's operations are not much impacted due to COVID-19 pandemic

Tata Steel Reports Pre-Tax Loss of Rs 15 Billion in Q4

Tata Steel posted a consolidated pre-tax loss of Rs 15 billion for the quarter ended March 31, 2020.

The company had logged a profit before tax (PBT) of Rs 42.5 billion in the corresponding period last year.

Tata Steel said the loss was due to weak revenue and a slew of exceptional items, which further dented the earnings of the company.

For Q4FY20, the company's top line stood at Rs 328.7 billion, down 20% year-on-year (YoY) due to weak demand amid the slowing economic growth which impacted domestic as well as overseas operations.

However, the company's margin improved on the back of stronger performance in the early part of the quarter.

Tata Steel Europe showed a turnaround in performance with positive EBITDA for the quarter, said T V Narendran, chief executive officer (CEO) and managing director (MD).

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

MISHRA DHATU NIGAM LTD Share Price Up by 6%; BSE METAL Index Up 0.8% (Today's Market)

Jul 2, 2020 03:03 PM

MISHRA DHATU NIGAM LTD share price is trading up by 6% and its current market price is Rs 218. The BSE METAL is up by 0.8%. The top gainers in the BSE METAL Index is MISHRA DHATU NIGAM LTD (up 6.2%). The top losers are COAL INDIA (down 0.1%) and HINDUSTAN ZINC (down 1.1%).

JAI CORP LTD Share Price Up by 5%; BSE METAL Index Up 0.5% (Today's Market)

Jul 2, 2020 02:41 PM

JAI CORP LTD share price is trading up by 5% and its current market price is Rs 92. The BSE METAL is up by 0.5%. The top gainers in the BSE METAL Index is JAI CORP LTD (up 5.3%). The top losers are COAL INDIA (down 0.1%) and HINDUSTAN ZINC (down 0.9%).

NBCC (INDIA) LTD Share Price Up by 6%; BSE REALTY Index Up 0.5% (Today's Market)

Jul 2, 2020 02:23 PM

NBCC (INDIA) LTD share price is trading up by 6% and its current market price is Rs 25. The BSE REALTY is up by 0.5%. The top gainers in the BSE REALTY Index is NBCC (INDIA) LTD (up 5.8%). The top losers are SOBHA LIMITED (down 0.3%) and PRESTIGE ESTATES (down 1.4%).

HERO MOTOCORP Share Price Up by 5%; BSE AUTO Index Up 2.3% (Today's Market)

Jul 2, 2020 01:47 PM

HERO MOTOCORP share price is trading up by 5% and its current market price is Rs 2,676. The BSE AUTO is up by 2.3%. The top gainers in the BSE AUTO Index are HERO MOTOCORP (up 5.0%) and M&M (up 5.0%). The top losers are BHARAT FORGE (down 0.3%) and EICHER MOTOR (down 1.0%).

PHILLIPS CARBON BLACK Share Price Up by 11%; BSE 500 Index Up 1.2% (Today's Market)

Jul 2, 2020 01:39 PM

PHILLIPS CARBON BLACK share price is trading up by 11% and its current market price is Rs 99. The BSE 500 is up by 1.2%. The top gainers in the BSE 500 Index are PHILLIPS CARBON BLACK (up 10.6%) and APL APOLLO TUBES (up 10.2%). The top losers are MPHASIS (down 0.1%) and GSK PHARMA (down 0.1%).

Sensex, Nifty Extend Gains; M&M and Hero MotoCorp Surge Over 4% (Today's Market)

Jul 2, 2020 12:30 pm

The BSE Sensex is trading up by 382 points, while the NSE Nifty is trading up by 105 points.

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