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Tata Elxsi reports 39% year-on-year growth in Q4FY22 profit at Rs 160 crore
Tata Elxsi clocked 39 percent year-on-year growth in Q4FY22 profit at Rs 160 crore on healthy growth in revenue that increased 31.5 percent YoY to Rs 682 crore backed by strong double-digit growth in transportation, media and communications, and healthcare segments.
EBITDA grew by 32 percent YoY to Rs 221.2 crore in March quarter.
Tata Elxsi was quoting at Rs 7,926.40, up Rs 118.35, or 1.52 percent on the BSE.
Morgan Stanley view on Nykaa:
Morgan Stanley has kept overweight call on FSN E-Commerce Ventures (Nykaa) with a target at Rs 2,040 per share.
The company entered a partnership with Aveda to launch prestige salons.
Morgan Stanley view this as a positive move to expand its physical retail footprint, reported CNBC-TV18.
FSN E-Commerce Ventures Nykaa was quoting at Rs 1,822.90, up Rs 27.85, or 1.55 percent on the BSE.
Market at 1 PMBenchmark indices were trading near day’s high led by the pharma, auto, IT and capital goods stocks.The Sensex was up 789.07 points or 1.38% at 57826.57, and the Nifty was up 224.10 points or 1.31% at 17360.60. About 2185 shares have advanced, 936 shares declined, and 109 shares are unchanged.
BSE Metal index shed 0.6 percent dragged by the Jindal Steel & Power, Tata Steel, JSW Steel
Another 5-7% correction in market to make valuations palatable, says Vinit Sambre
Vinit Sambre, head of equities at DSP Investment Managers, believes that another 5-7 percent correction in the stock market could make valuations palatable for long-term investors.
Domestic equities are currently flat for the year despite the spike in global volatility triggered by Russia’s invasion of Ukraine and hawkish shift in global monetary policy to tame record high inflation.
While Nifty 50 index has seen compression of its price-to-earnings multiples from the record highs of 2021, it is still quoting more than 20 times one-year forward earnings, which is above its long-term average valuation. Click To Read More
Mastek Q4 Earnings:
Mastek has reported 8.6 percent jumped in its Q4 net profit at Rs 79.9 crore versus Rs 73.6 crore and revenue was up 5.4% at Rs 581.5 crore versus Rs 551.9 crore, QoQ.
Earnings before interest, tax, depreciation and amortization (EBITDA) 3.8% at Rs 120.6 crore versus Rs 116.2 crore and margin was at 20.7% versus 21%, QoQ.
Mastek was quoting at Rs 2,830.80, up Rs 36.80, or 1.32 percent on the BSE.
ITC proposes to acquire 10% stake in Blupin Technologies
ITC proposes to acquire 10% stake in Blupin Technologies Private Limited, the company behind brand Mylo.
The share acquisition is expected to be completed within 45 days from the date of execution of the Agreements.
The Company has entered into Share Subscription Agreement, Share Purchase Agreement, and Shareholders’ Agreement on April 20, 2022 to acquire up to 10.07% ofthe share capital of Mylo (on a fully diluted basis), subject to completion of conditions precedent.
ITC was quoting at Rs 260.45, up Rs 0.95, or 0.37 percent on the BSE.
BSE Smallcap index rose 1 percent supported by the Uttam Sugar Mills, Centrum Capital, Cupid
Shriram Properties Q4 Business Update:
Shriram Properties reported impressive performance with highest-ever sales volume, sales value as well as record high collections and construction for the year ended March 31, 2022 (FY22).
Its performance for the quarter remained impressive with strong growth in key operating parameters compared to Q3 FY22.
The Company achieved sales volumes2 of 1.17 msf in Q4FY22, supported by 4 successful launches, reflecting 14% growth over Q3FY22 (QoQ). For the full year, aggregate sales volumes reached a record high of 3.76 msf in FY22, up 25% year-on-year (YoY).
Shriram Properties was quoting at Rs 80.20, up Rs 3.20, or 4.16 percent on the BSE.
Results Today:
HCL Technologies, ICICI Lombard General Insurance Company, L&T Technology Services, Tata Communications, CRISIL, Cyient, Rallis India, Sasken Technologies, Shiva Cement, Betala Global Securities, Rajratan Global Wire, Roni Households, Shukra Jewellers, S&T Corporation, and Trident Texofab will release quarterly earnings on April 21.
Nifty IT index gained 1 percent supported by the Coforge, Infosys, TCS:
