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Closing Bell: Nifty ends above 17,100, Sensex gains 574 pts; autos outperform – Moneycontrol

April 20, 2022 / 07:27 AM IST

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April 20, 2022 / 03:45 PM IST

Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities:

The Bank Nifty index is still trading below its 200 DMA, which is placed at the 36800 level. The index needs to cross this level decisively for resuming the up move. 

The index lower-end support stands at 36100 and, if breached will witness further downside towards 35800-35100 levels.

April 20, 2022 / 03:39 PM IST

Market Close: Benchmark indices bounced back and ended higher on April 20 with Nifty comfortably finishing above 17,100.

At Close, the Sensex was up 574.35 points or 1.02% at 57,037.50, and the Nifty was up 177.80 points or 1.05% at 17,136.50. About 1716 shares have advanced, 1593 shares declined, and 111 shares are unchanged.

BPCL, Tata Motors, Shree Cements, UltraTech Cement and Eicher Motors were among the top Nifty losers. Bajaj Finance, ICICI Bank, Bajaj Finserv, JSW Steel and ONGC were the top losers.

Auto, pharma, IT, oil & gas indices jumped 1-2 percent each, while selling is seen in the metal and banking names. BSE midcap and smallcap indices ended in the green.

April 20, 2022 / 03:23 PM IST

Insecticides (India) receives Patent from Government of IndiaInsecticides (India) has informed that Government of India, The Patent Office has granted the Patent for an invention entitled ‘Novel Granules and its pesticidal compositions’ for the terms of 20 years from 11th day of July, 2019 (date of filing).

Insecticides (India) receives Patent from Government of India     Insecticides (India) has informed that Government of India, The Patent Office has granted the Patent for an invention entitled 'Novel Granules and its pesticidal compositions' for the terms of 20 years from 11th day of July, 2019 (date of filing).

April 20, 2022 / 03:17 PM IST

Nifty Metal index shed 0.35 percent dragged by Hindustan Copper, SAIL India, Jindal Stainless Hisar:

Nifty Metal index shed 0.35 percent dragged by Hindustan Copper, SAIL India, Jindal Stainless Hisar:

April 20, 2022 / 03:15 PM IST

March Domestic Air Passenger Traffic Up 36.7% YoY: DGCA

The March 2022 domestic air passenger traffic rose 36.7% YoY at 1.07 crore, said Directorate General of Civil Aviation (DGCA).

Interglobe Aviation market share was at 54.8% versus 51.3%, SpiceJet market share stood at 9.5% against 10.7% and Air India market share was at 8.8% versus 11.1%, MoM.

Interglobe Aviation Passenger load factor stood at 81.0% versus 85.2%, SpiceJet Passenger load factor stood at 86.9% versus 89.1% and Air India Passenger load factor was at 85.0% versus 84.1%, MoM.

April 20, 2022 / 03:12 PM IST

Bajaj Electricals signs partnership with wtecBajaj Electricals announced its partnership with wtec which is a global developer of technology dedicated to innovation, reducing environmental impact, and enabling smart building use cases throughout the built space. The company has selected the smartengine platform as its infrastructure technology for energy-efficient smart lighting and fine-mesh sensor network. Through this strategic alliance, BEL aims to bring disruptive technology to significantly impact infrastructure operations in terms of smarter solutions, efficiencies in operations, and cost savings, Bajaj Electricals said in its release.

Bajaj Electricals signs partnership with wtec     Bajaj Electricals announced its partnership with wtec which is a global developer of technology dedicated to innovation, reducing environmental impact, and enabling smart building use cases throughout the built space.     The company has selected the smartengine platform as its infrastructure technology for energy-efficient smart lighting and fine-mesh sensor network. Through this strategic alliance, BEL aims to bring disruptive technology to significantly impact infrastructure operations in terms of smarter solutions, efficiencies in operations, and cost savings, Bajaj Electricals said in its release.

April 20, 2022 / 03:06 PM IST

Motilal Oswal View on L&T Infotech

L&T Infotech’s deep domain capabilities, strong partnerships with hyperscalers, and a robust sales engine will continue to drive industry-leading growth rates for the company.

We expect USD revenue CAGR of ~21% over FY22-24, which is at the top end of our Tier II IT coverage universe.

While we remain confident of the management’s execution capabilities, we remain on the sidelines in the stock, led by a significant valuation re-rating.

We value the stock at 30x FY24E EPS. Our target price is Rs 5,710 per share. We maintain our neutral rating.

April 20, 2022 / 03:02 PM IST

Market at 3 PMBenchmark indices were trading higher in the final hour of trading with Nifty holding above 17100.The Sensex was up 484.92 points or 0.86% at 56948.07, and the Nifty was up 153.80 points or 0.91% at 17112.50. About 1608 shares have advanced, 1578 shares declined, and 91 shares are unchanged.

Market at 3 PM     Benchmark indices were trading higher in the final hour of trading with Nifty holding above 17100.    The Sensex was up 484.92 points or 0.86% at 56948.07, and the Nifty was up 153.80 points or 0.91% at 17112.50. About 1608 shares have advanced, 1578 shares declined, and 91 shares are unchanged.

April 20, 2022 / 02:54 PM IST

PI Industries and Polymath Holding decided to terminate JV agreements

On October 11, 2021 PI Industries and Polymath Holding LLC executed 2 joint venture agreements for undertaking the business of development, manufacturing and selling of biochemistry products and Pharma Intermediates.

The consummation of the aforesaid transaction was subject to fulfilment of certain pre-defined conditions precedent before the long stop date. 

However, many important CPs could not be completed by both parties prior to the long stop date and the subsequent extended period. In view of this delay and also disagreement on certain key matters, both parties have mutually decided not to pursue the intended joint ventures and record termination of the JV Agreements, PI Industries said in its press release.

PI Industries was quoting at Rs 2,878.05, down Rs 8.30, or 0.29 percent.

April 20, 2022 / 02:47 PM IST

Top Gainers and Losers on the Nifty and Sensex

Top Gainers and Losers on the Nifty and Sensex

April 20, 2022 / 02:40 PM IST

Goldman Sachs on L&T Infotech

Research house Goldman Sachs has kept sell rating on L&T Infotech with a target at Rs 4,570 per share.

The Q4 was in-line with strong orderbook & exit rate for FY23. The company announced 4 large deals with net new TCV of USD 80 million, reported CNBC-TV18.

Larsen & Toubro Infotech was quoting at Rs 5,119.80, down Rs 366.35, or 6.68 percent on the BSE.