Solara Active Pharma Q4Solara Active Pharma has posted 96.7 percent fall in its Q4 consolidated net profit at Rs 1.9 crore versus Rs 56.6 crore and revenue was down 18.8% at Rs 360.8 crore versus Rs 444.2 crore, YoY.Earnings before interest, tax, depreciation and amortization (EBITDA) was down 86.3% at Rs 13.5 crore versus Rs 99.1 crore and margin was down at 3.7% versus 22.3%, YoY.
Nifty Bank index fell nearly 1 percent dragged by Axis Bank, Bank of Baroda, SBI
Market At 3 PMBenchmark indices erases all the intraday gains and trading lower dragged by oil & gas and capital goods stocks.The Sensex was down 258.48 points or 0.45% at 57262.58, and the Nifty was down 77.90 points or 0.45% at 17167.10. About 1292 shares have advanced, 1865 shares declined, and 106 shares are unchanged.
Maruti Suzuki Q4:
The company’s Q4 net profit was up 57.7% at Rs 1,838.9 crore versus Rs 1,166 crore, YoY.
Company’s revenue was up 11.3% at Rs 26,270 crore against Rs 24,024 crore, YoY.
Earnings before interest, tax, depreciation and amortization (EBITDA) was up 21.9% at Rs 2,427 crore versus Rs 1,991 crore and margin was at 9.1% versus 8.3%, YoY.
Maruti Suzuki India was quoting at Rs 7,911.40, up Rs 23.45, or 0.30 percent.
Morgan Stanley View on Axis Bank
The research firm Morgan Stanley has kept an overweight call on Axis Bank with a target of Rs 910 per share as profit came above estimate, helped by lower provisions.
The research firm believes the bank will take advantage of lower credit costs for investments, CNBC-TV18 reported.
Axis Bank was quoting at Rs 732.90, down Rs 47.05, or 6.03 percent on the BSE.
BSE Capital Goods index fell 0.7 percent dragged by Bharat Electronics, Elgi Equipments, Hindustan Aeronautics
UltraTech Cement Q4: UltraTech Cement on April 29 reported a 47.3 percent on-year growth in consolidated net profit at Rs 2,613.75 crore for the quarter ended March, which was above Street’s estimate of Rs 1,480 crore. The company’s board also recommended a dividend of Rs 38 per share for its shareholders.
Gokaldas Exports Q4: Consolidated net profit at Rs 60.9 crore against Rs 16 crore (YoY). Consolidated revenue grew 58.1% at Rs 585 crore against Rs 370 crore (YoY). Consolidated EBITDA at Rs 76.6 crore against Rs 35.2 crore (YoY). Consolidated EBITDA margin at 13.1% against 9.5% (YoY). The stock was trading at Rs 399.35, up Rs 46.70, or 13.24 percent. It has touched an intraday high of Rs 407.65 and an intraday low of Rs 351.05. It was trading with volumes of 157,165 shares, compared to its five day average of 22,791 shares, an increase of 589.59 percent.
Maruti Suzuki stocks trades in the red ahead of earnings. The company is expected to report a 34 percent year-on-year rise in net profit to Rs 1,565.3 crore for the quarter ended March, according to an average of estimates from six brokerage houses polled by Moneycontrol.
European Markets Updates
. @LICIndiaForever will be listed on stock exchanges on May 17, says DIPAM Secy #LICIPO #LIC pic.twitter.com/PWANNfBcG2
— CNBC-TV18 (@CNBCTV18Live) April 29, 2022
Market Update at 2 PM: Sensex is up 304.39 points or 0.53% at 57825.45, and the Nifty added 88 points or 0.51% at 17333.
