Closing Bell: Indices end with robust gains, Sensex up 1,000pts; M&M, Titan, Infosys top gainers

:

Markets ended the 3-week long consolidation phase and gained over 2%, tracking firm global cues. After the gap-up start, the benchmark inched gradually higher in the first half however marginal profit taking around 16,700 zone capped the upside. Consequently, the nifty index managed to settle at 16,661 levels. Almost all the sectoral indices contributed to the move wherein consumer durables, realty and IT were the top gainers. The broader markets too witnessed healthy traction wherein Midcap and Smallcap ended higher by more than 2% each.

Markets have regained some strength citing the less hawkish tone of the US Fed in the recently released meeting minutes. On the domestic front, the early onset of monsoon has further lifted sentiments. Going forward, with earnings season largely behind us, upcoming macroeconomic data i.e. GDP numbers and PMI data and auto sales will be in focus for cues. Amid all, we reiterate our positive view and suggest maintaining “buy on dips” till the Nifty holds 16,300.

Net loss at Rs 2,277.2 crore against profit of Rs 894.1 crore (YoY). Revenue was up 10.8% at Rs 9,446.7 crore against Rs 8,523 crore (YoY). EBITDA grew 14.3% at Rs 2,340.3 crore against Rs 2,048 crore (YoY). EBITDA margin at 24.8% against 24% (YoY).

:

Nifty rose for the third consecutive session on May 30 following positive global cues due to China easing Covid curbs and sharp Friday gains on the Wall street. Some local factors helping the mood include early arrival of monsoon in Kerala raising hopes of a favourable impact on agri crops. At close, Nifty was up 1.89% or 308.9 points at 16661.4.

Among sectors Realty, IT, Oil & Gas, Capital Goods and Consumer Durables rose the most. Broad markets did well as Midcap and Smallcap indices rose more than the Nifty and Advance decline ratio was sharply positive.

European stocks rose on Monday after China relaxedsome of the strictest virus controls of the pandemic, fueling risk-on sentiment for economic recovery. Indian stocks were anyway due for a bounce after continuously underperforming since early April 2022. 16800-16850 level on the Nifty could be tough to breach in the near term.

:

Benchmark Indices were up 2% in afternoon trade today led by IT, auto and state owned banks buoyed by global cues, a pause in the upward trajectory of the Dollar Index and early arrival of monsoon in the state of Kerala. The broader markets too mirrored the same trend with both the midcap & smallcap indices rising 2% in today's trade. We did witness keen interest in footwear, QSR and realty stocks with many of them recording smart up-moves.

Mazagon Dock Shipbuilders Limited Q4FY22 consolidated net slumps 38.6 percent year on year to Rs 159 crore as compared to a profit after tax of Rs 259.1 crore during the corresponding period last year due to higher provions, low other income, higher cost of spares and sub-contractor cost. Revenue for the quarter however, increased 26.6 percent year on year to Rs 1,396.43 crore compared to Rs 1,103.24 crore during the prior year period.

Sobha Ltd rises more than 8 percent, DLF gains more than 6 percent while Lodha is up more than 5 percent

Source: BSE

Mawana Sugars Q4 | #4QWithCNBCTV18

▶️Cons net profit down 76.4% at Rs 31 cr vs Rs 131.2 cr (YoY)

▶️Cons revenue down 17.1% at Rs 294 cr vs Rs 354.7 cr (YoY)

▶️Cons EBITDA down 24.9% at Rs 61.7 cr vs Rs 82.2 cr (YoY)

▶️Cons EBITDA margin at 21% vs 23% (YoY) pic.twitter.com/hvMssqbZeq

— CNBC-TV18 (@CNBCTV18Live) May 30, 2022

DCM Shriram Industries Limited consolidated net for Q4FY22 dips 17 percent on year to Rs 16.2 crore as compared to a profit after tax of Rs 19.5 crore during the corresponding period last year due to rise in raw material costs & other expenses and higher cost of stock in trade. Revenue for the quarter however, increased 25.8 percent year on year to Rs 658 crore compared to Rs 523 crore during the prior year period.The company has recommended final dividend of Rs 0.50 /- per equity share (25 percent) of Re. 2/- each the financial year ended March 2022.

Benchmark indices maintain gains with Nifty above 16,650

The Sensex was up 1,065.55 points or 1.94% at 55,950.21, and the Nifty was up 318.70 points or 1.95% at 16671.15. About 2371 shares have advanced, 1058 shares declined, and 154 shares are unchanged.

Source: BSE

Sources to CNBCTV18: Govt to book a revenue loss of Rs 10,000-15,000 cr per annum on account of recent duty changes announced on Iron ores, plastics etc (apart from fuel excise cut).@TimsyJaipuria reports.#CNBCTV18Exclusive pic.twitter.com/gQvYIVSOyy

— CNBC-TV18 (@CNBCTV18Live) May 30, 2022

: Overweight call, target at Rs 205 per share. Underlying earnings strong; policy to remain an overhang in the near term. Spot LNG prices have declined from peak. See upside risk to Spot LNG prices for H2. Near-term earnings environment remains strong.