As per provisional closing data, the barometer index, the S&P BSE Sensex dropped 609.28 points or 0.82% to 73,730.16. The Nifty 50 index declined 150.40 points or 0.67% to 22,419.95.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.83% and the S&P BSE Small-Cap index added 0.27%.

The market breadth was positive. On the BSE, 2,000 shares rose and 1,782 shares fell. A total of 131 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.81% to 10.93.

Politics:

The second phase of voting, scheduled for April 26, encompasses 89 constituencies across 13 states and Union territories. The BJP seeks a third consecutive term, while the opposition, including the Congress, has united under the banner of the Indian National Developmental Inclusive Alliance (INDIA) bloc to thwart PM Modi's re-election. The extensive Lok Sabha elections 2024 span seven phases from April 19 to June 1, with the results set to be announced on June 4.

Buzzing Index:

The Nifty Financial Services index slipped 0.89% to 21,354.05. The index rallied 3.09% in five trading sessions.

Bajaj Finance (down 7.73%), Bajaj Finserv (down 3.52%), Kotak Mahindra Bank (down 2.07%), SBI Life Insurance Company (down 2.02%), State Bank of India (down 1.4%), HDFC Life Insurance Company (down 1.15%), SBI Cards & Payment Services (down 1.05%), ICICI Lombard General Insurance Company (down 0.83%), ICICI Bank (down 0.53%) and Power Finance Corporation (down 0.22%) declined.

On the other hand, IDFC (up 2.33%), Muthoot Finance (up 1.99%) and Cholamandalam Investment & Finance Company (up 1.42%) edged higher.

Bajaj Finance tumbled 7.73% after the NBFC?s loan losses and provisions jumped 53% to Rs 1,310 crore in Q4 FY24. The non-banking financial company (NBFC) reported 21.11% increase in consolidated net profit to Rs 3,824.53 crore on a 31.36% jump in total income to Rs 14,931.98 crore in Q4 FY24 as compared with Q4 FY23.

Bajaj Finserv slipped 3.52%. The NBFC said that its consolidated net profit jumped 20% to Rs 2118.53 crore in Q4 FY24 as compared with Rs 1768.95 crore in Q4 FY23. Total income increased 35.63% YoY to Rs 32041.93 crore in Q4 FY24.

Stocks in Spotlight:

Tech Mahindra surged 7.47% after the IT major's consolidated net profit jumped 29.51% to Rs 661 crore in Q4 FY24 as against Rs 510.4 crore reported in Q3 FY24. Revenue from operations stood at Rs 12,871.3 crore in the March quarter, down 1.76% from Rs 13,101.3 crore recorded in the preceding quarter of FY24.

L&T Technology Services dropped 7.86%. The company said that its consolidated net profit increased 1.4% to Rs 340.9 crore in Q4 FY24 as compared with Rs 336.2 crore in Q3 FY24. Revenue from operations jumped 7.04% to Rs 2,537.5 crore in the quarter ended 31 March 2024 as compared with Rs 2,370.6 crore in the quarter ended 31 December 2023.

IndusInd Bank slipped 3.09%. The private lender's standalone net profit increased 15.01% to Rs 2,346.84 crore on 20.77% rise in total income to Rs 14,699.01 crore in Q4 FY24 over Q4 FY23.

Cyient declined 1.40%. The IT major reported 28.53% rise in consolidated net profit to Rs 189.2 crore on 2.16% increase in revenue from operations to Rs 1,860.8 crore in Q4 FY24 over Q3 FY24.

Som Distilleries & Breweries lost 1.80%. The company?s consolidated net profit jumped 17.97% to Rs 18.84 crore in Q4 FY24 as compared with Rs 15.97 crore in Q4 FY23. Revenue from operations (excluding excise duty) jumped 43.27% to Rs 381.59 crore in Q4 FY24 as compared with Rs 266.34 crore posted in same quarter last year.

Schaeffler India added 1.88% after the company has reported 3.8% rise in standalone net profit to Rs 227.67 crore on a 9.2% increase in net sales to Rs 1,849.22 crore in Q4 FY24 as compared with Q4 FY23.

Zensar Technologies jumped 7.75% after the company?s consolidated net profit jumped 7.17% to Rs 173.3 crore in Q4 FY24 as compared with Rs 161.7 crore in Q3 FY24. Revenue from operations increased 1.41% QoQ to Rs 1,229.7 crore in Q4 FY24.

Supreme Industries advanced 2.37%. The company reported 1.28% fall in consolidated net profit to Rs 354.82 crore on a 15.95% increase in total consolidated income to Rs 3,025.98 crore in Q4 FY24 over Q4 FY23.

Olectra Greentech lost 3.39% after the company reported 49.2% drop in consolidated net profit to Rs 13.71 crore in Q4 FY24 from Rs 27.01 crore in Q4 FY24. Net sales declined by 23.2% YoY to Rs 288.81 crore during the period under review.

Global Markets:

European shares advanced while most of the Asian stocks ended higher on Friday.

Bank of Japan (BOJ) kept monetary policy unchanged. Holding its benchmark policy rate at 0%-0.1%

The BOJ now expects inflation between 2.5% and 3% for fiscal 2024, up from 2.2% to 2.5% in its January forecast.

US stocks dropped on Thursday after data showed a sharp slowdown in economic growth and pointed to persistent inflation.

The US economy grew last quarter at the slowest pace in two years as consumer and government spending cooled amid a sharp pickup in inflation. The US gross domestic product (GDP) increased at a 1.6% annualized rate in January-March 2024. The economy grew at a 3.4% rate in the fourth quarter.

Inflation surged, with the personal consumption expenditures (PCE) price index, excluding food and energy, increasing at a 3.7% rate after rising at 2% in the fourth quarter.

As per provisional closing data, the barometer index, the S&P BSE Sensex jumped 486.50 points or 0.66% to 74,339.44. The Nifty 50 index gained 167.95 points or 0.75% to 22,570.35.

In the broader market, the S&P BSE Mid-Cap index rose 0.71% and the S&P BSE Small-Cap index added 0.54%.

The market breadth was positive. On the BSE, 2,079 shares rose and 1,717 shares fell. A total of 138 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 4.42% to 10.73. Volatility zoomed as traders roll over positions in the F&O segment from the near month April series to May series. The April 2024 F&O contracts expired today, 25 April 2024.

Politics:

The second phase of voting will be held on April 26 in 89 constituencies spread across 13 states and Union territories. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called Indian National Developmental Inclusive Alliance (INDIA) bloc to deny PM Modi another victory. The elections will occur in 7 phases, from 19 April to 1 June. The Lok Sabha elections 2024 results will declared on 4 June.

IPO Update:

The initial public offer (IPO) of JNK India received 29,95,23,996 bids for shares as against 1,10,83,278 shares on offer, according to stock exchange data at 15:30 IST on Wednesday (25 April 2024). The issue was subscribed 27.02 times.

The issue opened for bidding on Tuesday (23 April 2024) and it will close on Thursday (25 April 2024). The price band of the IPO is fixed at Rs 395 to Rs 415 per share. An investor can bid for a minimum of 36 equity shares and in multiples thereof.

Buzzing Index:

The Nifty PSU Bank index jumped 3.77% to 7,403.15. The index shed 0.23% in the past trading session.

Indian Overseas Bank (up 5.77%), State Bank of India (up 5.15%), UCO Bank (up 4.5%), Bank of India (up 4.26%), Central Bank of India (up 3.78%), Bank of Baroda (up 3.63%), Indian Bank (up 3.32%), Canara Bank (up 3.25%), Union Bank of India (up 2.35%) and Punjab National Bank (up 2.26%) advanced.

Stocks in Spotlight:

Nestle India advanced 2.49% after the FMCG major's net profit jumped 26.81% to Rs 934.17 crore in March 2024 quarter as against Rs 736.64 crore in March 2023 quarter. Revenue from operations rose 9.05% year on year to Rs 5267.59 crore in the quarter ended 31 March 2023.

Hindustan Unilever declined 1.31% after the FMCG major reported 5.72% fall in standalone net profit to Rs 2,406 crore in Q4 FY24 as compared to Rs 2,552 crore recorded in Q4 FY23. Revenue from operations rose marginally to Rs 14,693 crore in Q4 FY24 as against Rs 14,638 crore posted in Q4 FY23.

Axis Bank rallied 5.99% after the private lender reported net profit of Rs 7,129.67 crore in Q4 FY24 as against net loss of Rs 5,728.42 recorded in Q4 FY23. Total income rose 25.15% year on year (YoY) to Rs 35,990.33 crore in the quarter ended 31 March 2024.

Kotak Mahindra Bank slumped 10.91% after the Reserve Bank of India (RBI) directed the private lender to immediately stop onboarding new customers through its online and mobile banking channels and issuing new credit cards.

LTIMindtree lost 1.87% after the company?s net profit fell 5.87% to Rs 1,100 crore in Q4 FY24 as compared with Rs 1,169 crore posted in Q3 FY24. Revenue from operations declined 1.38% to Rs 8,892 crore in Q4 FY24 as compared with Rs 9,016 crore in Q3 FY24.

5paisa Capital dropped 7.11% after the company reported 59.95% drop in consolidated net profit to Rs 5.78 crore in Q4 FY24 as compared with Rs 14.41 crore posted in Q4 FY23. Revenue from operations grew by 24.58% year on year (YoY) to Rs 112.86 crore in the quarter ended 31 March 2024.

Macrotech Developers lost 2.85% after the company?s consolidated net profit declined 10.6% to Rs 665.5 crore in Q4 FY24 as against Rs 744.4 crore recorded in Q4 FY23. However, revenue from operations jumped 23.44% year on year (YoY) to Rs 4,018.5 crore in the quarter ended 31 March 2024.

Indian Hotels Company (IHCL) dropped 5.18%. The company reported 27.26% jump in consolidated net profit to Rs 417.76 crore in the quarter ended 31 March 2024 as compared with Rs 328.27 crore in the quarter ended 31 March 2023. Revenue from operations increased 17.22% YoY to Rs 1,905.34 crore in Q4 FY24 as compared with Rs 1,625.43 crore in Q4 FY23. The said growth was led by a 19% growth in Room Revenue and 12% in Food & Beverage.

Oracle Financial Services Software declined 3.05%. The company said that it has reported 15.86% jumped in consolidated net profit to Rs 560.12 crore in Q4 FY24 as compared with Rs 479.30 crore in Q4 FY23. Revenue for the quarter was Rs 1,642 crore, up 12% YoY.

Supreme petrochemicals surged 8.88%. The company?s net profit declined 17.47% to Rs 131.50 crore in Q4 FY24 as against Rs 159.33 crore recorded in Q4 FY23. Net revenue from operations rose 12.69% year on year (YoY) to Rs 1,562.84 crore in the quarter ended 31 March 2024.

MAS Financial Services advanced 2.59% after the company?s net profit jumped 22.5% to Rs 68.05 crore in Q4 FY24 as compared with Rs 55.55 crore posted in corresponding quarter last year. Revenue from operations increased 23% YoY to Rs 328.10 crore during the quarter.

Tata Teleservices (Maharashtra) fell 2.50% after the company?s consolidated net loss widened to Rs 309.34 crore in Q4 FY24 as compared with Rs 277.07 crore posted in Q4 FY23. Revenue from operations grew by 15.41% year on year (YoY) to Rs 323.29 crore in the quarter ended 31 March 2024.

Kirloskar Pneumatic Company surged 16.32% after the company reported 87% jump in net profit to Rs 60.23 crore in Q4 FY24 from Rs 32.24 crore in Q4 FY23. Revenue from operations increased by 36% YoY to Rs 489.96 crore during the quarter.

Global Markets:

European and Asian stocks traded mixed on Thursday. The Bank of Japan kicks off its monetary policy meeting Thursday. Due to be published on Friday, investors will monitor the outcomes from the Bank of Japan, especially for any action to restrict the yen weakness.

Markets in Australia and New Zealand are closed for a public holiday.

Wall Street ended on a mixed note on Wednesday as traders assessed bleak outlook from Meta Inc., one of the magnificent seven, and as treasury yields rose following sales of 5-year U.S. Treasury notes. The US first-quarter gross domestic product figures are due on April 25.

As per provisional closing data, the barometer index, the S&P BSE Sensex, was up 114.49 points or 0.16% to 73,852.94. The Nifty 50 index added 34.40 points or 0.15% to 22,402.40.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.92% and the S&P BSE Small-Cap index added 0.79%.

The market breadth was positive. On the BSE, 2,257 shares rose and 1,560 shares fell. A total of 112 shares were unchanged.

IPO Update:

The initial public offer (IPO) of JNK India received 96,62,652 bids for shares as against 1,10,83,278 shares on offer, according to stock exchange data at 15:30 IST on Wednesday (24 April 2024). The issue was subscribed 0.87 times.

The issue opened for bidding on Tuesday (23 April 2024) and it will close on Thursday (25 April 2024). The price band of the IPO is fixed at Rs 395 to Rs 415 per share. An investor can bid for a minimum of 36 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Metal index jumped 2.69% to 9,140.10. The index shed 0.34% in the past trading session.

Steel Authority of India (up 7.39%), NMDC (up 5.77%), Ratnamani Metals & Tubes (up 4.21%), Hindalco Industries (up 3.96%), JSW Steel (up 3.95%), Tata Steel (up 2.82%), Jindal Steel & Power (up 2.74%), National Aluminium Company (up 2.54%), Welspun Corp (up 2.01%) and Hindustan Copper (up 2%) advanced.

Stocks in Spotlight:

Tata Consumer Products slipped 5.56% after the company's consolidated net profit declined 19.35% to Rs 216.63 crore in Q4 FY24 as compared with Rs 268.59 crore recorded in Q4 FY23. Revenue from operations rose 8.52% year on year (YoY) to Rs 3,926.94 crore in March 2024 quarter.

Nippon Life India Asset Management (AMC) rallied 4.25% after its consolidated net profit surged 73.17% to Rs 342.92 crore in Q4 FY24 as compared with Rs 198.02 crore in Q4 FY23. Total income jumped 44.47% year on year (YoY) to Rs 560.57 crore in the quarter ended March 2024.

ICICI Prudential Life Insurance Company declined 2.71% after the company's net profit fell 26.02% to Rs 173.76 crore in Q4 FY24 from Rs 234.87 crore posted in Q4 FY23. Total income jumped 96.45% YoY to Rs 22,591.46 crore in Q4 FY24.

Tata Elxsi fell 4.59% after the design led technology service provider?s net profit declined 2.28% to Rs 196.93 crore in Q4 FY24 as against Rs 201.52 crore posted in Q4 FY23. Revenue from operations rose 8.12% year on year (YoY) to Rs 905.94 crore in the quarter ended 31 March 2024.

360 ONE WAM jumped 4.56% after the company?s consolidated net profit jumped 24.3% to Rs 241 crore in Q4 FY24 as compared with Rs 155 crore in Q4 FY23. Revenue from operations increased 45.8% YoY to Rs 573 crore in Q4 FY24.

Cyient DLM surged 5.04% after the company?s net profit surged 80.62% to Rs 22.74 crore on 30.46% rise in revenue from operations to Rs 361.84 crore in Q4 FY24 over Q4 FY23. Sequentially, the company?s net profit jumped 23.32% and revenue grew by 12.7% in Q4 FY24.

Huhtamaki India dropped 7.98% after the company?s net profit declined 26.66% to Rs 26.03 crore in Q1 CY24 as compared with Rs 35.49 crore in Q1 CY23. Revenue from operations fell 7.77% YoY to Rs 610.2 crore in Q1 CY24.

Multi Commodity Exchange of India (MCX) declined 4.70%. The company reported consolidated net profit of Rs 878.7 crore in Q4 FY24, steeply higher than Rs 5.45 crore in Q4 FY23. Revenue from operations increased 35.43% year on year (YoY) to Rs 181.14 crore in the quarter ended 31 March 2024.

Puravankara was locked in 5% upper circuit after the company announced that it has been unanimously selected as the preferred developer for redeveloping a residential housing society in Pali Hill, Mumbai.

Rail Vikas Nigam (RVNL) advanced 2.58% after the company's consortium was named the lowest bidder for the redevelopment project of Thiruvananthapuram Central Railway Station.

Sakuma Exports added 2.47% after the company has entered into a contract amounting to approximately Rs 150 crore for the supply of sugar to the North East, West Bengal, and Bihar regions.

Global Markets:

European and Asian stocks advanced on Wednesday following Wall Street?s continued rally for a second straight day.

U.S stock indexes climbed for a second straight session on Tuesday as a strong batch of corporate earnings assuaged concerns over higher rates.

As per provisional closing data, the barometer index, the S&P BSE Sensex, was up 89.83 points or 0.12% to 73,738.45. The Nifty 50 index added 31.60 points or 0.14% to 22,368.00.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.52% and the S&P BSE Small-Cap index added 1.05%.

The market breadth was strong. On the BSE, 2,339 shares rose and 1,475 shares fell. A total of 120 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 19.72% to 10.20. Volatility zoomed as traders roll over their positions in the F&O segment from the near month April series to May series. The April 2024 F&O contracts will expire on Thursday, 25 April 2024.

Economy:

Rising from 61.8 in March to 62.2 in April, the headline HSBC Flash India Composite PMI Output Index ? a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors ? indicated the fastest rate of increase in aggregate business activity since mid-2010. Survey participants overwhelmingly attributed the expansion to buoyant demand from domestic and external clients.

Growth in India remained broad-based across the manufacturing and service sectors. The former saw the sharper rate of increase, albeit one that was softer than in March. In the service economy, business activity rose to the greatest extent in three months.

IPO Update:

The initial public offer (IPO) of JNK India received 35,10,072 bids for shares as against 1,10,83,278 shares on offer, according to stock exchange data at 15:45 IST on Tuesday (23 April 2024). The issue was subscribed 0.32 times.

The issue opened for bidding on Tuesday (23 April 2024) and it will close on Thursday (25 April 2024). The price band of the IPO is fixed at Rs 395 to Rs 415 per share. An investor can bid for a minimum of 36 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Realty index jumped 2.58% to 957.20. The index rallied 3.34% in two trading sessions.

Sobha (up 5.88%), Prestige Estates Projects (up 3.58%), Oberoi Realty (up 3.58%), Macrotech Developers (up 3.33%), Brigade Enterprises (up 2.63%), DLF (up 2.32%), Phoenix Mills (up 2.3%), Godrej Properties (up 1.3%) and Sunteck Realty (up 1.21%) advanced.

Stocks in Spotlight:

Reliance Industries (RIL) slipped 1.39%. The company?s consolidated net profit rose 0.1% to Rs 21,243 crore on 10.8% increase in gross revenue to Rs 264,834 crore in Q4 FY24 over Q4 FY23.

Rallis India declined 4.14% after the company reported a net loss of Rs 21 crore in Q4 FY24, lower than net loss of Rs 69 crore posted in Q4 FY23. Total income dropped to Rs 442 crore from Rs 527 crore.

Mahindra & Mahindra Financial Services dropped 5.47% after the NBFC announced deferment of board meeting for considering quarterly results due to detection of fraud at one of company?s branches in the North East.

Aditya Birla Money was locked in an upper circuit of 5% after the company reported 123.34% surge in net profit to Rs 16.46 crore in Q4 FY24 as compared with Rs 7.37 crore posted in Q4 FY23. Revenue from operations soared 73.05% year on year to Rs 114.06 crore in the quarter ended 31 March 2024.

Netlink Solutions (India) was locked in an upper circuit of 20% after the company reported 62.09% jump in consolidated net profit to Rs 4.49 crore in Q4 FY24 as compared with Rs 2.77 crore in Q4 FY23. Revenue from operations increased 34.31% YoY to Rs 1.84 crore during the quarter.

Tejas Networks was locked in upper circuit of 20% after the company reported consolidated net profit of Rs 146.78 crore in Q4 FY24 as against Rs 11.47 crore posted in Q4 FY23. Revenue from operations zoomed to Rs 1,326.88 crore in March 2024 quarter as compared with Rs 299.32 crore recorded in same quarter last year.

Artson Engineering was locked in an upper circuit of 5% after the company reported consolidated net profit of Rs 1.31 crore in Q4 FY24 as compared with net loss of Rs 9.96 crore posted in corresponding quarter last year. Revenue from operations declined 15.12% YoY to Rs 24.87 crore in Q4 FY24 from Rs 29.30 crore posted in Q4 FY23.

K.P. Energy was locked in 5% upper circuit after the company has received new order for development of 9MW wind power project forming part of the wind-solar hybrid power project to be developed in Gujarat.

Shish Industries jumped 10.53% after the company announced that it has received order worth minimum of $37.5 million from USA-based Best Construction Products Inc. (BCP).

Hatsun Agro Product rallied 8.63% after the company reported net profit stood at Rs 52.15 crore in Q4 FY24, steeply higher than Rs 24.98 crore in Q4 FY23. Revenue from operations jumped 14.38% to Rs 2046.87 crore during the quarter as compared with Rs 1,789.46 crore posted in corresponding quarter last year.

Redtape advanced 3.40% after the company has commenced online operational activity from it's new warehouse situated at Bhiwandi, Maharashtra with effect from 22 April 2024. This new warehouse facility will help the company to fulfil delivery of its products more efficiently to the online shopping customers.

Global Markets:

European stocks advanced while most of the Asian stocks ended higher on Tuesday as tech shares rebounded on Wall Street and investors look toward flash business activity figures from Australia, Japan and India.

Investors remained on edge ahead of earnings from some of the world?s biggest companies this week, while more cues on U.S. interest rates were also in focus.

Wall Street stocks ended higher on Monday following a market sell-off in previous sessions as investors eyed a busy week for quarterly results from key companies that would provide a glimpse of the US economy's health.

Markets were now awaiting earnings reports from some of the biggest companies on Wall Street

As per provisional closing data, the barometer index, the S&P BSE Sensex jumped 560.29 points or 0.77% to 73,648.62. The Nifty 50 index gained 189.40 points or 0.86% to 22,336.40.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.93% and the S&P BSE Small-Cap index gained 1.26%.

The market breadth was strong. On the BSE, 2,621 shares rose and 1,283 shares fell. A total of 153 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 5.62% to 12.70.

Economy:

The provisional figures of Direct Tax collections for the Financial Year (FY) 2023-24 show that Net collections are at Rs. 19.58 lakh crore, compared to Rs. 16.64 lakh crore in the preceding Financial Year i.e. FY 2022-23, representing an increase of 17.70%.

The Budget Estimates (BE) for Direct Tax revenue in the Union Budget for FY 2023- 24 were fixed at Rs. 18.23 lakh crore which were revised and the Revised Estimates (RE) were fixed at Rs. 19.45 lakh crore. The provisional Direct Tax collections (net of the refunds) have exceeded the BE by 7.40% and RE by 0.67%.

Meanwhile, India?s foreign exchange (forex) reserves declined $5.401 billion to $643.162 billion during the week ended April 12, according to the latest RBI data. In the previous reporting week, overall reserves had risen $2.88 billion to a new high of $648.562 billion.

For the week ended April 12, the foreign currency assets, a major component of the reserves, decreased by $6.513 billion to $564.653 billion, according to the data released on April 19.

Gold reserves continued their rise and increased by $1.241 billion to $55.798 billion during the week. The special drawing rights (SDRs) were down $93 million to $18.077 billion, the RBI said.

India?s reserve position with the IMF was also down by $35 million to $4.634 billion in the reporting week, the central bank data showed.

Buzzing Index:

The PSU Bank index rallied 3.30% to 7,162.35. The index fell 4.89% in the past five trading sessions.

Union Bank of India (up 7.78%), Bank of Maharashtra (up 4.63%), Central Bank of India (up 4.35%), Bank of India (up 4.31%), Punjab National Bank (up 3.94%), Indian Overseas Bank (up 3.84%), Canara Bank (up 3.59%), UCO Bank (up 3.55%), Punjab & Sind Bank (up 3.48%) and State Bank of India (up 2.27%) advanced.

Stocks in Spotlight:

HDFC Bank slipped 1.03%. The bank said that its net profit jumped 37.06% to Rs 16,511.85 crore in Q4 FY24 as compared with Rs 12,047.45 crore posted in Q4 FY23. Total income jumped 66.46% YoY to Rs 89,6939 crore as compared with Rs 53,850.54 crore posted in corresponding quarter last year.

Wipro advanced 2.03% after the IT major's consolidated net profit grew 5.21% to Rs 2,834.6 crore in Q4 FY24 as against Rs 2,694.2 crore recorded in Q3 FY24. Revenue from operations rose marginally to Rs 22,208.3 crore in the March quarter as against Rs 22,205.1 crore reported in the preceding quarter same year.

Jio Financial Services rallied 3.46% after the company reported a net profit of Rs 310.63 crore in Q4 FY24 as against a net profit of Rs 293.82 crore posted in Q3 FY24. Total income rose to Rs 418.10 crore from Rs 414.33 crore.

HDFC Asset Management Company (HDFC AMC) fell 1.70%. The asset management company?s standalone net profit jumped 43.83% to Rs 541.09 crore on 33.4% rise in total income to Rs 850.89 crore in Q4 FY24 over Q4 FY23.

Indian Renewable Energy Development Agency (IREDA) jumped 5.88% after the company?s net profit jumped 33% to Rs 337.38 crore in Q4 FY24 as compared with Rs 253.62 crore in Q4 FY23. Revenue from operations increased 33.6% to Rs 1,339.77 crore in Q4 FY24 as compared with Rs 1,002.67 crore posted in corresponding quarter last year.

Persistent Systems tumbled 9.59%. The company said that its consolidated net profit increased 10.2% to Rs 315.31 crore in Q4 FY24 as compared with Rs 286.13 crore posted in Q3 FY24. Revenue from operations rose 3.7% QoQ to Rs 2,590.52 crore in Q4 FY24. During the quarter, EBIT margin remained flat at 14.5% as compared with Q3 FY24.

Sterling and Wilson Renewable Energy was locked in 10% upper circuit after the company has reported a net profit of Rs 1 crore in Q4 FY24 as against a net loss of Rs 421 crore posted in Q4 FY23. Revenue from operations in the fourth quarter surged to Rs 1,178 crore. The company?s revenue for the same period last year was Rs 88 crore.

Oberoi Realty added 2.40% after the company reported booking value of Rs 1,775 crore during the quarter. In Q4 FY24, in terms of volume, the Mumbai based realty developer company booked 4,48,844 square foot (Sq.ft) area while 228 units were booked.

Pavna Industries was locked in 5% upper circuit after the company announced that it has inked an agreement with OLA Electric to supply ignition switches and latches.

Global Markets:

The US Dow Jones index futures were currently up by 183 points, signaling a positive opening for US stocks today.

European shares advanced while Asian stocks ended mixed on Monday as the focus shifted from Middle East tensions to company earnings and economic data for insight into the direction of central bank policy.

Investors look to fresh data points out of China, Japan and South Korea this week.

China?s central bank left its one- and five-year loan prime rates unchanged at 3.45% and 3.95%, respectively on Monday. The one-year LPR is seen as the peg for most household and corporate loans, while the five-year LPR is the benchmark for most property mortgages.

In US, the Nasdaq and the S&P 500 closed sharply lower on Friday as investors juggled lackluster earnings, uncertainties surrounding central bank policy and geopolitical strife.

As per provisional closing data, the barometer index, the S&P BSE Sensex jumped 599.34 points or 0.83% to 73,088.33. The Nifty 50 index gained 151.15 points or 0.69% to 22,147.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.39% while the S&P BSE Small-Cap index declined 0.04%.

The market breadth was negative. On the BSE, 1,716 shares rose and 2,073 shares fell. A total of 114 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, climbed 3.20% to 13.46.

Politics:

India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June.

Buzzing Index:

The Nifty Financial Services index slipped 1.31% to 21,173. The index has slipped 3.77% in the past four trading sessions.

Bajaj Finance (up 3.09%), HDFC Bank (up 2.64%), Bajaj Finserv (up 1.55%), ICICI Bank (up 1.19%), Cholamandalam Investment & Finance Company (up 1%), IDFC (up 0.9%), Power Finance Corporation (up 0.77%), Axis Bank (up 0.7%), State Bank of India (up 0.7%) and SBI Cards & Payment Services (up 0.66%) advanced.

On the other hand, ICICI Prudential Life Insurance Company (down 2.87%), HDFC Asset Management Company (down 1.71%) and ICICI Lombard General Insurance Company (down 1.3%) edged lower.

Stocks in Spotlight:

Infosys shed 0.63%. The IT major's consolidated net profit jumped 30.51% to Rs 7,969 crore in Q4 FY24 from Rs 6,106 crore in Q3 FY24. Revenue from operations declined 2.31% to Rs 37,923 crore in Q4 FY24 as compared with Rs 38,821 crore in Q3 FY24. In terms of guidance, the company has revised its FY25 revenue guidance to 1%-3% in constant currency and operating margin guidance at 20%-22%.

Bajaj Auto slipped 2.43%. The auto major?s standalone net profit jumped 35.11% to Rs 1,936 crore on 28.97% rise in revenue from operations to Rs 11,484.68 crore in Q4 FY24 over Q4 FY23.

ICICI Securities rose 1.08%. The broking firm?s consolidated net profit zoomed 104.3% to Rs 536.53 crore in Q4 FY24 as against Rs 262.68 crore recorded in Q4 FY23. Total income was at Rs 1,544.44 crore in the quarter ended 31 March 2024, registering a growth of 74.5% year on year (YoY).

ITC added 1.40% after the company announced that its wholly owned subsidiary, ITC Infotech India has entered into Share Purchase Agreement to acquire 100% stake in Blazeclan Technologies for total consideration of Rs 485 crore.

Network18 Media & Investments declined 2.39% after the company?s consolidated net loss widened to Rs 206.92 crore in Q4 FY24 as against Rs 35.19 crore recorded in Q4 FY23. Revenue from operations climbed 63.06% year on year to Rs 2,419.28 crore in the quarter ended 31 March 2024.

Aurionpro Solutions was locked in upper circuit of 5% after its board approved acquisition of 67% stake in Mumbai-based banking and insurance focused PaaS startup, Arya.ai, operated through legal entity Lithasa Technologies.

Motilal Oswal Financial Services gained 7.39% after the company said that its board will meet on Friday, 26 April 2024, to consider a proposal for declaration of bonus equity shares.

TV18 Broadcast declined 2.57% after the media company reported a consolidated net loss of Rs 51.73 crore in Q4 FY24 as against a net profit of Rs 35.19 crore posted in Q4 FY23. Revenue from operations jumped 65.7% year on year to Rs 2,329.58 crore in Q4 FY24.

Global Markets:

The US Dow Jones index futures were currently down by 123 points, signaling a negative opening for US stocks today.

European and Asian stocks declined on Friday as reports of Israeli strikes on Iran further ramped up concerns over worsening geopolitical conditions in the Middle East. Israel, early Friday morning local time, launched missiles in a retaliatory strike against Iran, as per reports. The missile launches follow Iran's attack last Saturday.

U.S. stocks closed mixed on Thursday in another jittery day of trade, as investors focused on rising bond yields and uncertain oil prices.

As per provisional closing data, the barometer index, the S&P BSE Sensex slipped 454.69 points or 0.62% to 72,488.99. The Nifty 50 index lost 152.05 points or 0.69% to 21,995.85.

In the broader market, the S&P BSE Mid-Cap index declined 0.39% while the S&P BSE Small-Cap index gained 0.06%.

The market breadth was negative. On the BSE, 1,888 shares rose and 1,909 shares fell. A total of 132 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 3.36% to 13.04.

Economy:

The International Monetary Fund raised India?s FY25 GDP growth forecast by 30 bps to 6.8% from its January forecast of 6.5%, citing bullish domestic demand conditions and a rising working-age population. IMF sees India's FY26 GDP growth at 6.5%. The global financial agency sees India's retail inflation at 4.6% in FY25 and 4.2% in FY26.

Politics:

India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June.

Buzzing Index:

The Nifty Media index rose 0.77% to 1,889.55. The index advanced 2.35% in two trading sessions.

Network 18 Media & Investments (up 4.19%), Hathway Cable & Datacom (up 4.02%), Saregama India (up 3.05%), PVR Inox (up 3.03%), TV18 Broadcast (up 1.73%), Nazara Technologies (up 0.84%), Sun TV Network (up 0.34%) gained.

On the other hand, Zee Entertainment Enterprises (down 1.96%), Dish TV India (down 0.28%) and Tips Industries (down 0.24%) edged lower.

Hathway Cable & Datacom gained 4.02% after the cable TV & fiber internet provider reported consolidated net profit of Rs 34.57 crore in Q4 FY24 as against net loss of Rs 14.62 crore posted in Q4 FY23. Revenue from operations rose 7.35% year on year (YoY) to Rs 493.37 crore in the quarter ended 31 March 2024.

Stocks in Spotlight:

Just Dial surged 13.36% after the company?s net profit jumped 38.02% to Rs 115.65 crore on 16.23% rise in revenue from operations to Rs 270.27 crore in Q4 FY24 over Q4 FY23.

Angel One shed 1.84%. The brokerage company reported 27.34% rise in consolidated net profit (from continuing operations) to Rs 339.95 crore in Q4 FY24 as against Rs 266.97 crore recorded in Q4 FY23. Total income climbed 63.46% to Rs 1,358.54 crore in Q4 FY24 from Rs 831.09 crore recorded in the corresponding quarter previous year.

Biocon rose 1.79% after the company has signed a licensing and supply agreement with Biomm S.A., for the commercialization of Semaglutide (gOzempic), which is used to improve glycemic control in adults with type-2 diabetes.

Power Grid Corporation of India advanced 2.42% after its board has approved the raising of bonds as POWERGRID bonds issue(s) upto Rs 12,000 crore during FY 2024-25.

Further, the power ? transmission firm has been declared as the successful bidder under tariff based competitive bidding to establish inter-state transmission system for three projects on build, own operate and transfer (BOOT) basis. Additionally, the company has also received letters of Intent (LoI) for the same projects.

Jubilant Pharmova gained 5.42% after Jubilant Generics received a communication from the US drug regulator, which determined the inspection classification of its Roorkee facility as ?Voluntary Action Indicated (VAI)?.

Meanwhile, the pharma company informed that its subsidiary, Jubilant Cadista Pharmaceuticals Inc., USA has decided to close the manufacturing operations of its solid dosage formulation facility at Salisbury, Maryland, USA. The expected date of cessation of manufacturing operation and first separations at the said facility will be on 17 June 2024.

Nestle India declined 3.04%, following news reports that the company added sugar to its Cerelac baby cereal in India, but not in its main European and UK markets.

In a joint investigation between Public Eye and International Baby Food Action Network (IBFAN) sent baby food samples in Asia, Latin America, and Africa from Nestle to a testing laboratory in Belgium. The study said that Nestle added the sugar equivalent to an average of 4 gram per sugar cube in wheat-based cereals, Cerelac. It is made for children aged between six months and two years.

Brigade Enterprises rallied 4.48% after the company announced that it has achieved pre- sales of Rs 2,243 crore in Q4 FY24. The company?s sales volume stood at Rs 2.72 million square feet (sq.ft) in Q4 FY24.

Sterling Tools zoomed 7.11% after the company announced the signing of a memorandum of understanding (MoU) with South Korea?s Yongin Electronics Company for setting up new greenfield manufacturing facility for EV components.

Global Markets:

Markets in Europe and Asia advanced on Thursday.

Investors will assess Australia?s unemployment rate, which is one of the metrics the country?s central bank weighs when considering monetary policy.

US stocks closed lower on Wednesday as crude prices tumbled and investors weighed cautious US Federal Reserve commentary and ongoing geopolitical strife against mixed quarterly earnings.

The U.S. economy grew ?slightly? over the past six weeks while price increases moved at a ?modest? pace and employment showed ?slight? gains as well, the Federal Reserve said in its latest Beige Book report filed Wednesday.

As per provisional closing data, the barometer index, the S&P BSE Sensex declined 456.10 points or 0.62% to 72,943.68. The Nifty 50 index lost 124.60 points or 0.56% to 22,147.90. In three trading sessions, the Sensex shed 2.79% while the Nifty 50 declined 2.66%.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.05% while the S&P BSE Small-Cap index gained 0.57%.

The market breadth was positive. On the BSE, 2,255 shares rose and 1,566 shares fell. A total of 112 shares were unchanged.

The domestic stock markets will remain closed on Wednesday, 17 April 2024 on account of Ram Navami.

Politics:

India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June.

Buzzing Index:

The Nifty IT index dropped 2.53% to 33,593.10. The index slipped 4.82% in three consecutive trading sessions.

Infosys (down 3.7%), Mphasis (down 3.51%), Coforge (down 3.49%), LTIMindtree (down 3.16%), L&T Technology Services (down 2.59%), Persistent Systems (down 2.37%), Wipro (down 2.36%), Tech Mahindra (down 1.87%), HCL Technologies (down 1.75%) and Tata Consultancy Services (down 1.74%) edged lower.

Stocks in Spotlight:

Jio Financial Services added 2.43% after the company announced the signing of an agreement with BlackRock Advisors Singapore, to form a 50:50 joint venture (JV) for setting up the wealth management and broking business.

Sterlite Technologies jumped 6.53% after the company announced that it has raised Rs 1000 crore through a qualified institutional placement (QIP) route.

Happy Forgings rallied 3.80% after the company announced that it has secured a major order from a leading global Tier 1 manufacturer of automobile driveline components and systems.

Caplin Point Laboratories advanced 1.53% after its subsidiary, Caplin Steriles received final approval from the US drug regulator for its abbreviated new drug application (ANDA) Ofloxacin Ophthalmic Solution.

Gujarat Gas (GGL) declined 3.40% while Indian Oil Corporation (IOCL) gained 1.44%. GGL and IOCL have entered into a non-binding memorandum of understanding (MoU) to expand the scope and accessibility of energy solutions for consumers.

Ugro Capital rallied 3.17% after the company?s asset under management (AUM) jumped 48% to Rs 9,000 crore in Q4 FY24 as compared with Rs 6,081 crore in Q4 FY23. During the quarter, net loans stood at Rs 1,555 crore as compared with Rs 1,459 crore in Q4 FY23.

Dynacons Systems & Solutions was locked in an upper circuit of 20% after the company announced that it has secured a contract worth Rs 233 crore from National Bank for Agriculture and Rural Development (NABARD).

Global Markets:

European and Asian stocks tumbled on Tuesday, in the shadow of Middle East tensions.

China?s economy grew stronger than expected at the start of this year, partly thanks to robust factory activity. Gross domestic product grew by 5.3% in the first quarter from a year ago, according to the National Bureau of Statistics on Tuesday. It also accelerated from the 5.2% growth in the previous three months. China has set an annual growth target of around 5% for 2024.

US stocks declined on Monday as rising yields and worries over the conflict in the Middle East overshadowed strong Goldman Sachs earnings and hot retail sales data.

Retail sales in the United States grew more than anticipated last month. US retail sales picked up by 0.7% in March to $709.6 billion, after February's increase was revised to 0.9%, said the Commerce Department.

As per provisional closing data, the barometer index, the S&P BSE Sensex slipped 845.12 points or 1.14% to 73,399.78. The Nifty 50 index lost 246.90 points or 1.10% to 22,272.50.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index lost 1.50%, while the S&P BSE Small-Cap index fell 1.54%.

The market breadth was firmly in favour of declines. On the BSE, 917 shares rose and 2,984 shares fell. A total of 148 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 8.10% to 12.47.

Weather Update:

The Indian Meteorological Department (IMD) announced that the rainfall is estimated at 106% of the long-period average (LPA), which is the rainfall recorded over a particular region for a given interval (like month or season) average over a long period like 30 years, 50 years, etc. The LPA of the season rainfall over the country for the period 1971?2020 is 87 cm.

Economy:

Ministry of Commerce & Industry stated in a latest update today that India?s overall export (Merchandise and Services combined) in March 2024 is estimated to be $70.21 Billion, exhibiting a negative growth of (-) 3.01% over March 2023. Overall import in March 2024 is estimated to be $73.12 Billion, exhibiting a negative growth of (-) 6.11% over March 2023.

India?s overall exports (Merchandise and Services combined) in FY 2023-24 (April-March) are estimated to be $776.68 Billion, exhibiting a positive growth of 0.04% over FY 2022-23 (April-March). Overall imports in FY 2023-24 (April-March) are estimated to be $854.80 Billion, exhibiting a negative growth of (-) 4.81% over FY 2022-23 (April-March).

Overall trade deficit for FY 2023-24 (April-March) is estimated at $78.12 Billion as compared to the deficit of $121.62 Billion during FY 2022-23 (April-March), registering a decline of (-) 35.77%.

India's wholesale inflation rate quickened to three-month high of 0.53% in February, mainly driven by food and primary articles, data released by the commerce ministry on April 15 showed.

Wholesale Price Index (WPI) inflation stood at 0.2% in February and 1.34% in March 2023. Food prices rose 4.65% as compared with an increase of 4.09% in February.

For the FY24, the wholesale inflation index fell 0.7% versus a 9.41% rise a year ago.

Retail inflation eased to a five-month low in March on the marginally moderating food inflation, while industrial output growth rebounded to a four-month high in February, led by robust infra sectors and consumer durables output.

India's retail inflation eased to 4.85% on an annual basis in March as against 5.09% in the previous month, data showed on Friday. Meanwhile, the industrial production surged to a four-month high of 5.7% in February compared with 4.3% in the previous month.

Buzzing Index:

The Nifty Oil & Gas index rose 0.60% to 11,717.45. The index fell 1.23% in the previous trading session.

Oil & Natural Gas Corporation (up 5.63%), Gujarat Gas (up 2.19%), Mahanagar Gas (up 1.83%), Indraprastha Gas (up 1.76%), Aegis Logistics (up 1.74%), GAIL (India) (up 1.64%), Oil India (up 1.59%) and Gujarat State Petronet (up 0.73%) advanced.

On the other hand, Castrol India (down 5.84%), Hindustan Petroleum Corporation (down 2.39%) and Adani Total Gas (down 2.31%) edged lower.

Stocks in Spotlight:

Tata Consultancy Services (TCS) shed 1.47%. The company announced that its consolidated net profit increased 12.44% to Rs 12,434 crore in Q4 FY24 as compared with Rs 11,058 crore in Q3 FY24. Revenue from operations increased 1.08% QoQ to Rs 61,237 crore in Q4 FY24.

Adani Enterprises declined 1.80%. The company on Friday announced that its wholly owned subsidiary, Adani Global will acquire a 49% stake in Adani Esyasoft Smart Solutions, Abu Dhabi.

Adani Green Energy slipped 3.44%. The power generation company reported a 7% YoY increase in solar portfolio energy sales to 3,066 million units in Q4 FY24 as against 2,872 million units posted in Q4 FY23.

Aster DM Healthcare surged 7.59% after the company said its board has declared a special dividend of Rs 118 per equity share.

Anand Rathi Wealth rallied 4.88% after its consolidated net profit rose 32.83% to Rs 56.60 crore in Q4 FY24 as against Rs 42.61 crore in Q4 FY23. Total revenue increased 34.08% year on year (YoY) to Rs 197.19 crore in the quarter ended 31 March 2024.

Container Corporation of India (CONCOR) declined 1.73%. The firm reported 11.24% increase in total throughput to 12,44,798 twenty-foot equivalent units (TEUs) in Q4 FY24 as compared with 11,19,034 TEUs recorded in Q4 FY23.

Ambuja Cements shed 0.11%. The company said that it has signed a definitive agreement to acquire My Home Group's 1.5 million tones per annum (MTPA) Cement Grinding Unit in Tuticorin, Tamil Nadu. The acquisition estimated at a total value of Rs. 413.75 Crores through internal accruals will aid in enhancing the coastal footprint across southern markets of Tamil Nadu and Kerela. The total cement capacity of Adani Group stands at 78.9 MTPA,? the company said in a statement.

Senco Gold surged 17.49% after the company said that it has achieved 39% year on year (YoY) revenue growth in the quarter ended 31 March 2024. Gold prices continued its northward journey throughout FY 23-24 including in Q4 on account of heightened geopolitical tensions, increased gold buying by central banks across the globe, high FED rates and likely soft landing, INR US$ exchange rates and momentum effect, added the company.

Global Markets:

The US Dow Jones index futures were currently up by 114 points, indicating a positive opening for US stocks today.

Most of the European stocks advanced while its Asian peers declined on Monday as geopolitical tension heightened after Iran's attack on Israel over the weekend.

Traders weighed the impact of Iran?s massive drone and missile attacks on Israel. Iran launched more than 300 drones and missiles against military targets in Israel on Saturday. Though significant in scale, the Iranian attack caused little actual damage in Israel, as per reports.

China will announce its first quarter GDP numbers on Tuesday. Japan will release its March trade data and inflation numbers on Wednesday and Friday, respectively.

US stocks tumbled Friday following a mixed start to earnings reporting season. Worries about potentially escalating tensions in the Middle East rattled financial markets, pushing investors to look for safer places for their money.

As per provisional closing data, the barometer index, the S&P BSE Sensex, was dropped 793.25 points or 1.06% to 74,244.90. The Nifty 50 index fell 234.40 points or 1.03% to 22,519.40.

In the broader market, the S&P BSE Mid-Cap index shed 0.49% and the S&P BSE Small-Cap index fell 0.60%.

The market breadth was weak. On the BSE, 1,466 shares rose and 2,373 shares fell. A total of 104 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.82% to 11.53.

The Asian Development Bank (ADB) on Thursday raised India?s GDP growth forecast for the current fiscal to 7% from 6.7% earlier, saying the robust growth will be driven by public and private sector investment demand and gradual improvement in consumer demand.

New Listing:

Shares of Bharti Hexacom ended at Rs 813 on the BSE, representing a premium of 42.70% as compared with the issue price of Rs 570.

The scrip was listed at Rs 755.20, exhibiting a premium of 32.49% to the issue price.

The stock has hit a high of 879.90 and a low of 755.20. On the BSE, over 20.93 lakh shares of the company were traded in the counter.

Buzzing Index:

The Nifty Pharma index slipped 1.72% to 18,788.65. The index fell 2.23% in past three trading sessions.

Sun Pharmaceuticals Industries (down 3.96%), Laurus Labs (down 3.72%), Zydus Lifesciences (down 3.34%), Gland Pharma (down 2.24%) and Abbott India (down 2.12%), Aurobindo Pharma (down 2%), Mankind Pharma (down 1.89%), Alkem Laboratories (down 1.82%), Cipla (down 1.59%) and Biocon (down 1.56%) declined.

Stocks in Spotlight:

Larsen &Tourbo declined 1.71%. The EPC major announced that it has completed the sale of its entire stake in L&T Infrastructure Development Projects (LTIDPL), a joint venture with Canada Pension Plan Investment Board (CPP Investments).

Dr. Reddy?s Laboratories shed 1.05%. The company announced the launch of the drug-free non-invasive migraine management wearable device, Nerivio in Germany through its step-down subsidiary betapharm.

Computer Age Management Services (CAMS) advanced 2.18% after the Reserve Bank of India (RBI), in exercise of the powers conferred on it under the Payment and Settlement Systems Act, 2007, has granted authorisation to the company to operate as an Online Payment Aggregator.

Metropolis Healthcare added 2.04% after the company said that its core business revenue (excluding revenue from Covid, Covid allied tests & PPP contracts) jumped approximately 15% YoY in Q4 of FY24.

Nibe was locked in an upper circuit of 5% after the company announced that its subsidiary Karmayogi Manufacturing received purchase order from Ordefence System worth Rs 307 crore.

Manorama Industries rallied 4.25% after commenced the commissioning of its new fractionation plant with capacity of 25,000 tonnes per annum (TPA).

Vodafone Idea rose 2.24% after the telecom operator said that its board has approved to raise Rs 18,000 crore through follow on public offer (FPO) with price band of Rs 10 ? 11 per equity share. The FPO is slated to open on Thursday 18 April 2024 and close on Monday, 22 April 2024. Anchor investors will be allowed to participate two days prior to the bid/issue opening date, i.e. Tuesday, 16 April 2024.

The Phoenix Mills shed 1.20%. The company said that its total consumption stood at approximately Rs 2,818 crore in Q4 FY24, registering a growth of 27% year on year (YoY). Gross retail collections jumped 37% YoY to around Rs 791 crore in the quarter ended 31 March 2024.

PVR Inox rose 0.20%. The cinema chain operator announced the opening of 14 screen megaplex at Phoenix Mall of Asia in the city of Bengaluru.

Global Markets:

European shares advanced as the European Central Bank held interest rates steady again but said slowing inflation could open the door to easing monetary policy.

Most of the Asian stocks ended lower on Friday with investor assessing economic data from Singapore and South Korea while awaiting China trade numbers.

Singapore?s first-quarter gross domestic product climbed 2.7% year on year, advance estimates showed, faster than the 2.2% growth recorded in the last quarter of 2023. The Bank of Korea bank left its key policy rate unchanged for the 10th consecutive time at 3.50%.

US stocks closed higher on Thursday, with tech-related momentum stocks leading the charge, as fresh economic data rekindled hopes that inflation remains in a cooling trend.

As per provisional closing data, the barometer index, the S&P BSE Sensex, was up 354.45 points or 0.47% to 75,038.15. The Nifty 50 index added 111.05 points or 0.49% to 22,753.80.

The Nifty and Bank Nifty clocked a new all-time high of 22,775.70 and 49,057.40, respectively in today's intraday session.

In the broader market, the S&P BSE Mid-Cap index added 0.89% and the S&P BSE Small-Cap index rose 0.46%.

The market breadth was positive. On the BSE, 1,961 shares rose and 1,867 shares fell. A total of 105 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.17% to 11.11.

Due to the observance of Ramadan Eid on 11 April 2024, the domestic market will be closed. Consequently, the Nifty weekly options expiry has been shifted to today.

Buzzing Index:

The Nifty Media index advanced 1.80% to 1,911.35. The index fell 2.50% in past four trading sessions.

Sun TV Network (up 5.87%), Zee Entertainment Enterprises (up 2.53%), PVR Inox (up 1.93%), Hathway Cable & Datacom (up 1.4%), Saregama India (up 0.92%) and Tips Industries (up 0.15%) advanced.

On the other hand, Dish TV India (down 0.8%), TV18 Broadcast (down 0.73%) and Network 18 Media & Investments (down 0.56%) edged lower.

Stocks in Spotlight:

Tata Motors rose 0.62%. The company?s global wholesales in Q4 FY24, including Jaguar Land Rover was at 3,77,432 units, rising 8% as compared to Q4 FY23.

Avenue Supermarts rose 0.55%. The company has opened a new store at Vaishnavi Sapphire Mall, Bengaluru (Karnataka). The total number of stores as on date stands at 366.

Oriana Power zoomed 15.58% after the construction engineering firm announced that it has received a solar power plant project of 76.62 MW (AC) from Jodhpur Vidyut Vitran Nigam, Churu, Rajasthan.

PB Fintech advanced 2.81% after the wholly-owned subsidiary of the company by the name of ?PB Pay? has been incorporated vide Certificate of Incorporation issued by Registrar of Companies, Central Registration Centre, Ministry of Corporate Affairs dated 9 April 2024.

Lemon Tree Hotels added 2.36% after the company announced their entry into Nepal with the opening of Lemon Tree Premier at Budhanilkantha, Kathmandu.

Paisalo Digital rallied 4.37% after the company?s assets under management (AUM) grew by 32% to approximately Rs 4,622 crore as of 31 March 2024 as compared to Rs 3,492 crore as of 31 March 2023.

RattanIndia Power fell 2.43%. The company announced that Manish Ratnakar will take over the position of chief financial officer (CFO) and key management personnel (KMP) from Ankur Mitra effective from closing business hours of 9 April 2024.

Gensol Engineering added 1.02% after the company reported a robust order book of Rs 1,783 crore at the beginning of FY25.

Shyam Metalics and Energy added 1.49% after the company established a new stainless steel hot rolled coils (HRC) facility at its existing plant in Sambalpur, Odisha as a part of its expansion plan.

One 97 Communications declined 1.57%. The company said that its associate entity, Paytm Payments Bank?s (PPBL) managing director and CEO (MD& CEO) Surinder Chawla has tendered his resignation on 8 April 2024, on account of personal reasons and to explore better career prospects.

Exide Industries shed 0.27%. The company has entered into an agreement for acquiring 26% equity stake in Clean Max Arcadia Private Limited, a Special Purpose Vehicle (SPV) promoted and incorporated by Clean Max Enviro Energy Solutions Pvt Ltd. for generation and supply of solar power.

Global Markets:

European stocks traded higher while Asian stocks ended mixed on Wednesday as of Japan?s corporate inflation climbed in March and rate decisions are assessed from New Zealand and Thailand?s central banks.

South Korea?s markets are closed Wednesday, as the country heads to the polls to elect its next parliament. Japan?s corporate goods price index rose 0.8% in March from a year ago, accelerating from the revised 0.7% increase in February.

U.S. stock indexes ended nearly flat on Tuesday, pressured by financial-sector stocks as investors awaited a key inflation reading and braced for major banks to kick off earnings-reporting season later this week. The widely watched report on March's consumer-price index is due on Wednesday.

As per provisional closing data, the barometer index, the S&P BSE Sensex, shed 58.80 points or 0.08% to 74,683.70. The Nifty 50 index lost 23.55 points or 0.10% to 22,642.75.

The Sensex and Nifty clocked a new all-time high of 75,124.28 and 22,768.40, respectively in today's intraday session. Further, the Nifty Bank index also registered a fresh record high at 48,960.75.

In the broader market, the S&P BSE Mid-Cap index declined 0.47% and the S&P BSE Small-Cap index shed 0.15%.

The market breadth was weak. On the BSE, 1,614 shares rose and 2,231 shares fell. A total of 106 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.04% to 11.37.

Weather Forecast:

Skymet, India?s leading weather forecasting and agriculture risk solution company expects the upcoming monsoon to be normal to the tune of 102% of the long-period average. It said that notwithstanding, the start of the season is expected to be aberrated on account of the quick transition from El Nino to La Nina.

According to Jatin Singh, managing director Skymet, said, ?El Nino is swiftly flipping over to La Nina. And, monsoon circulation inclines to be stronger during La Nina years. Also, transition from Super El Nino to strong La Nina has historically tended to produce a decent monsoon. However, monsoon season may start with risk of impairment, attributable to the remnant effects of El Nino. The second half of the season will have an overwhelming edge over the primal phase.?

Buzzing Index:

The Nifty Metal index advanced 1.10% to 8,891.75. The index rallied 2.38% in three trading session.

Hindustan Zinc (up 16.96%), Hindustan Copper (up 8.01%), Vedanta (up 4.7%), National Aluminium Company (up 3.09%), Steel Authority of India (up 3.08%), Hindalco Industries (up 2.07%), NMDC (up 1.74%), APL Apollo Tubes (up 1.09%), Tata Steel (up 0.42%) and Ratnamani Metals & Tubes (up 0.22%) advanced.

On the other hand, Welspun Corp (down 2.73%), Jindal Steel & Power (down 0.97%) and Adani Enterprises (down 0.82%) edged lower.

Stocks in Spotlight:

Tata Motors shed 0.58%. The company announced that the Jaguar Land Rover (JLR) wholesale volume increased 9% QoQ and 16% YoY to 110,190 units in Q4 FY24 (excluding the Chery Jaguar Land Rover China JV).

Sterlite Technologies surged 10.05% after the company?s board has approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 119 per share.

Premier Explosives zoomed 17.69% after the company announced that its board will meet on Friday, 19 April 2024, to consider a proposal of sub-division/split in the face value of equity shares of the company.

Ajmera Realty & Infra rallied 5.39% after the company?s sales value stood at Rs 287 crore in Q4 FY24, registering a growth of 104% as compared with Rs 140 crore posted in Q4 FY23.

IRB Infrastructure Developers rose 0.80%. The company announced that its toll collection jumped 30% to Rs 480.9 crore in March 2024 from Rs 370 crore in March 2023.

JTL Industries gained 3.03% after the company said that it has acquired a controlling stake of 67% in Nabha Steels and Metals, situated in Mandi Gobindgarh, Punjab.

Paisalo Digital jumped 3.19% after the NBFC informed that its board is scheduled to meet on Friday, 12 April 2024 to approve allotment of non-convertible debentures (NCDs) through private placement basis.

Omaxe rallied 4.17% after the wholly owned subsidiary and special purpose company (SPC) of Omaxe, Worldstreet Sports Center, will be developing an international cricket and football stadium, an indoor stadium along with a retail and hospitality hub spread across an area of 50.40 acres in Delhi's Dwarka area for around Rs 1500 crore.

Sula Vineyards shed 0.11% after the company announced that it has recorded highest ever Q4 net revenues, overall as well as for own brands and the wine tourism business.

UCO Bank rose 0.75% after the bank reported 15.92% rise in total advances to Rs 1.87 lakh crore as on 31 March 2024 as against Rs 1.62 lakh crore recorded as on 31 March 2023.

Global Markets:

European stocks traded lower while most of the Asian stocks ended mixed on Tuesday as investors awaited U.S. inflation numbers to assess the Federal Reserve?s rate cut path.

Japan?s consumer confidence index increased marginally to 39.5 in March as compared with 39.0 in February 2024.

US stocks remained largely range bound on Monday, with investors awaiting the consumer price index report out on Wednesday.

As per provisional closing data, the barometer index, the S&P BSE Sensex, gained 494.28 points or 0.67% to 74,742.50. The Nifty 50 index added 152.60 points or 0.68% to 22,666.30.

The Sensex and Nifty clocked an all-time high of 74,869.3 and 22,697.30, respectively in afternoon trade. Further, the Nifty Bank index also registered a fresh record high today at 48,716.95.

In the broader market, the S&P BSE Mid-Cap index rose 0.26% and the S&P BSE Small-Cap index shed 0.06%.

The market breadth was negative. On the BSE, 1,898 shares rose and 2,031 shares fell. A total of 126 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 2.40% to 11.61.

Economy:

India?s foreign exchange reserves increased from $2.951 billion to $645.583 billion for the week ended March 29, according to the latest RBI report. This is the sixth consecutive week of a jump in overall reserves.

For the week ended March 29, the foreign currency assets, a major component of the reserves, increased $2.354 billion to $570.618 billion.

Gold reserves increased $673 million to $52.16 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down $73 million to $18.145 billion.

India?s reserve position with the IMF was also down $2 million to $4.66 billion in the reporting week, the apex bank data showed.

Buzzing Index:

The Nifty Auto rallied 2.67% to 22,067.95. The index fell 0.24% in the previous trading session.

Exide Industries (up 16.79%), Eicher Motors (up 3.96%), Maruti Suzuki India (up 3.33%), TVS Motor Company (up 3.16%), Mahindra & Mahindra (up 3.06%), Bharat Forge (up 2.57%), Hero MotoCorp (up 1.59%), Balkrishna Industries (up 1.48%), Samvardhana Motherson International (up 1.05%) and Bosch (up 1%) advanced.

Stocks in Spotlight:

Titan Company shed 0.32%. The company said that it has registered a revenue growth of 17% YoY for the quarter ended 31 March 2024. Titan added 86 stores during the quarter. The retail network presence stands at 3,035 stores.

Voltas surged 6.24% after the company announced that it has achieved the highest-ever sales of 2 million air conditioner (AC) units in the financial year 2023-24.

Dr.Reddy's Laboratories shed 0.04%. The company said entered into a partnership agreement with Bayer to market and distribute a second brand of Vericiguat in India.

FSN E-Commerce Ventures (Nykaa) rallied 6.35% after the company witnessed growth accelerate in Q4 FY24 with strong GMV growth of early thirties at a consolidated level, on a YoY basis.

Grasim Industries added 2.03% after the company informed that its B2B e-commerce business unit for building materials Birla Pivot has crossed Rs 1,000 crore revenue-mark in FY24, which is the first year of its operations.

Bandhan Bank tumbled 6.18%. The bank informed that its managing director & chief executive officer Chandra Shekhar Ghosh would retire from the services of the bank upon completion of his current tenure on 09 July 2024.

JSW Steel gained 2.39% after its consolidated crude steel production grew 3% to 6.79 million metric tonnes (MMT) in Q4 FY24 as compared with 6.58 MMT recorded in Q4 FY23.

Godrej Properties (GPL) advanced 3.58% after the company announced that it has sold over 1,050 homes worth over Rs 3,000 crore in its project, Godrej Zenith, located in Sector 89, Gurugram.

Godrej Consumer Product gained 2.87% after the company said that India organic business continued to deliver strong underlying volume growth at high-single digit with growth being broad-based across both home care and personal care.

Tata Steel rose 0.92%. The steel major's India business reported 4.46% increase in crude steel production to 5.38 million tons in Q4 FY24 as compared with 5.15 million tons posted in Q4 FY23.

Bank of Baroda fell 0.30%. The public sector bank reported 12.80% rise in domestic advances to Rs 8,97,366 crore as on 31 March 2024 from Rs 7,95,560 crore as on 31 March 2023.

Global Markets:

European stocks advanced while Asian stocks ended mixed ahead of central bank decisions this week, with investors also awaiting inflation numbers from the U.S. and China.

The Bank of Korea, the Reserve Bank of New Zealand, the Bank of Thailand and the central bank of the Philippines have their monetary policy meetings scheduled this week. All four banks are likely to hold their rates steady, as per reports.

US stocks regained ground after a stronger than expected jobs report. Nonfarm payrolls increased by 303,000 jobs last month, the Labor Department's Bureau of Labor Statistics said in its closely watched employment report on Friday. Data for February was revised slightly lower to show 270,000 jobs added instead of 275,000 as previously reported.

As per provisional closing data, the S&P BSE Sensex added 20.59 points or 0.03% to 74,248.22. The Nifty 50 index shed 0.95 points to 22,513.70.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.50% and the S&P BSE Small-Cap index gained 0.50%.

The market breadth was strong. On the BSE, 2,427 shares rose and 1,422 shares fell. A total of 99 shares were unchanged.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, gained 1.04% to 11.34.

RBI Monetary Policy Outcome:

The Reserve Bank of India (RBI) monetary policy committee (MPC) has voted to keep the repo rate unchanged at 6.5%. This is the seventh time that the 6 member Monetary Policy Committee has decided to keep the key rates unchanged.

RBI's MPC at its meeting today, 5 April 2024, decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50%. Consequently, the standing deposit facility (SDF) rate remains unchanged at 6.25% and the marginal standing facility (MSF) rate and the Bank Rate at 6.75%.

The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth.

These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth.

The real GDP growth for 2024-25 is projected at 7% with Q1 at 7.1%; Q2 at 6.9%; Q3 at 7%; and Q4 also at 7%. The CPI inflation for 2024-25 is projected at 4.5% with Q1 at 4.9%; Q2 at 3.8%; Q3 at 4.6%; and Q4 at 4.5%.

RBI Governor Shaktikanta Das elaborated on the decision, stating that inflation has decreased from its peak of 5.7%. He noted favorable growth-inflation dynamics and a steady decline in core inflation, reaching its lowest point in nine months. Despite volatile food inflation in February, core inflation, excluding food and fuel, has shown a downward trend. Concerns remain regarding the impact of weather variations on inflation and economic stability.

The minutes of the MPC?s meeting will be published on 19 April 2024. The next meeting of the MPC is scheduled during June 5 to 7, 2024.

IPO Update:

The initial public offer (IPO) of Bharti Hexacom received 1,15,49,64,798 bids for shares as against 4,12,50,000 shares on offer, according to stock exchange data at 15:35 IST on Friday (5 April 2024). The issue was subscribed 28 times.

The issue opened for bidding on Wednesday (3 April 2024) and it will close on Friday (5 April 2024). The price band of the IPO is fixed at Rs 542 to 570 per share. An investor can bid for a minimum of 26 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Bank index rose 0.90% to 48,493.05. The index advanced 1.99% in the three trading sessions.

AU Small Finance Bank (up 2.1%), Kotak Mahindra Bank (up 1.99%), IDFC First Bank (up 1.83%), HDFC Bank (up 1.47%), Federal Bank (up 1.34%), State Bank of India (up 0.87%), Punjab National Bank (up 0.85%), IndusInd Bank (up 0.51%), ICICI Bank (up 0.48%) advanced.

On the other hand, Bandhan Bank (down 0.18%), Axis Bank (down 0.07%) and Bank of Baroda (down 0.02%) edged lower.

Bandhan Bank shed 0.18%. The Bank?s total deposits rose by 25.1% to Rs 1,35,198 crore in the quarter ended 31 March 2024 from Rs 1,08,069 crore recorded in the quarter ended 31 March 2023.

Stocks in Spotlight:

Bajaj Finance declined 1.29%. The NBFC announced that its new loans booked increased by 4% to 7.87 million in Q4 FY24 as compared to 7.56 million recorded in Q4 FY23.

Hero MotoCorp rose 0.14%. The company has received assessment orders/ demand notices pertaining to six assessment years from the Income Tax Department. The company has received the orders / notices pertaining to six assessment years, amounting to a tax demand of Rs 308.65 crore and interest thereon of Rs 296.22 crore. This is on account of certain disallowances, for the assessment years 2013-14 to 2017-18 and 2019-20.

LTIMindtree shed 0.27%. Aforza, the leading cloud and mobile solution specifically built for the Consumer Products industry, and LTIMindtree, announced a strategic partnership to deliver digital transformation in CRM & TPM across the consumer products industry.

Cipla declined 0.82%. The drug major said that the US drug regulator has issued Form 483, with six observations after inspecting its Patalganga manufacturing facility in Maharashtra.

Niyogin Fintech gained 2.65% after the company reported 90% increase in gross transaction value to Rs 11,034 crore in Q4 FY24 from Rs 5,817.8 crore recorded in Q4 FY23.

Kalyan Jewellers India rose 0.08%. The jewellery retailer said that its revenue jumped approximately 38% from India operations during Q4 FY24 as compared to Q4 FY23.

Macrotech Developers added 2.17% after the company said that it has recorded pre-sales of Rs 4,230 crore in Q4 FY24, recording a growth of 40% on a YoY basis.

Trident rose 0.76%. The company said that the credit rating agency CARE Ratings has reaffirmed the company?s long-term bank facilities at CARE AA? with 'stable? outlook.

Sobha shed 0.39%. The company said that it has recorded total sales value of Rs 1,504 crore in Q4 FY24, up 2.77% from Rs 1,463.4 crore posted in Q4 FY23.

Global Markets:

European and Asian stocks declined on Friday, tracking overnight losses on Wall Street amid rate cut uncertainty, and sharp rise in crude oil prices.

Financial markets in Mainland China, and Taiwan are closed for Qingming Festival on Friday.

US stock indexes fell more than 1% on Thursday as Federal Reserve officials took a cautious approach in comments on the outlook for interest rate cuts, and investors braced for Friday's US monthly jobs report.

On Thursday, Minneapolis Fed President Neel Kashkari cast doubts on Thursday over the central bank cutting rates at all if inflation remained sticky.

As per provisional closing data, the S&P BSE Sensex, gained 350.81 points or 0.47% to 74,227.63. The Nifty 50 index added 80 points or 0.36% to 22,514.65.

The Sensex and Nifty clocked an all-time high of 74,501.73 and 22,619, respectively in early trade.

In the broader market, the S&P BSE Mid-Cap index shed 0.11% and the S&P BSE Small-Cap index rose 0.54%.

The market breadth was strong. On the BSE, 2,457 shares rose and 1,392 shares fell. A total of 98 shares were unchanged.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, shed 1.34% to 11.22.

The RBI Monetary Policy Committee (MPC) kicked off its 3-day meeting deliberating interest rates and analysing the state of the economy on April 3 and will end on April 5. While the RBI is widely expected to keep rates on hold, any signals on inflation and economic growth will be closely watched, as per reports.

Economy:

The HSBC India Services Purchasing Managers' Index , compiled by S&P Global, rose to 61.2 last month from February's 60.6, pointed to one of the strongest growth rates seen in over 13-and-a-half years. The upturn was largely attributed to healthy demand conditions, efficiency gains and positive sales developments.

Ines Lam, Economist at HSBC, said, ?India?s services PMI rose in March, following a small dip in February, on the back of strong demand that spurred sales and business activity. Service providers increased hiring at the fastest pace since August 2023 in order to expand production capacity. Input costs rose at a faster rate, yet service providers were able to broadly maintain margins by charging higher output prices.?

The HSBC India Composite PMI Output Index increased to 61.8 in March from 60.6 in February, highlighting the second-strongest upturn in over 13-and-ahalf years (behind July 2023).

IPO Update:

The initial public offer (IPO) of Bharti Hexacom received 3,63,19,27 bids for shares as against 4,12,50,000 shares on offer, according to stock exchange data at 15:40 IST on Thursday (4 April 2024). The issue was subscribed 0.88 times.

The issue opened for bidding on Wednesday (3 April 2024) and it will close on Friday (5 April 2024). The price band of the IPO is fixed at Rs 542 to 570 per share. An investor can bid for a minimum of 26 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Private Bank index rose 1.12% to 24,012.35. The index shed 0.21% in the past trading sessions.

HDFC Bank (up 3.17%), Muthoot Finance (up 2.35%), Kotak Mahindra Bank (up 1.09%), Bajaj Finserv (up 1.07%), IDFC (up 1.04%), LIC Housing Finance (up 0.54%), Cholamandalam Investment & Finance Company (up 0.35%), SBI Life Insurance Company (up 0.31%), ICICI Bank (up 0.3%) and Axis Bank (up 0.18%) advanced.

On the other hand, ICICI Lombard General Insurance Company (down 2.94%), ICICI Prudential Life Insurance Company (down 2.24%) and Shriram Finance (down 1.66%) edged lower.

HDFC Bank advanced 3.17% after the Private lender's gross advances jumped 55.4% to Rs 25,08,000 crore as of 31 March 2024 as compared with Rs 16,14,200 crore as of 31 March 2023.

Stocks in Spotlight:

Dabur India slipped 4.57%. The company said that its demand trends will remained sluggish during the quarter.

Suryoday Small Finance Bank zoomed 10.01% after the bank reported 50% jump in total deposits to Rs 7,775 crore as on 31 March 2024 as against Rs 5,167 crore as on 31 March 2023.

L&T Finance Holdings added 1.15% after the company recorded retail disbursements for Q4 FY24 is estimated at approximately Rs 15,030 crore, i.e., a growth of nearly 33% on a YoY basis.

Angel One dropped 4.73%. The brokerage company announced that it its client base jumped 61.5% to 22.24 million in March 2024 as against 13.78 million recorded in March 2023.

Avenue Supermarts (DMart) rallied 4.09% after the company reported standalone revenue of Rs 12,393.46 crore in quarter ended 31 March 2024, recording a growth of 19.89% from Rs 10,337.12 crore posted in the same period a year ago.

Vedanta advanced 2.92% after the miner company informed that its total aluminum production jumped 4% to 5,98,000 tonnes in Q4 FY24 as compared with 5,74,000 tonnes in Q4 FY23.

Meanwhile, the company?s board has approved to raise 2,50,000 non-convertible debentures (NCDs) of face value Rs 1 lakh each aggregating upto Rs 2,500 crore in one or more tranches on private placement basis.

G M Breweries tumbled 5.11%. The breweries & distilleries company reported a standalone net profit of Rs 86.44 crore in Q4 FY24, steeply higher than Rs 35.10 crore recorded in Q4 FY23. Revenue from operations (excluding excise duty) grew by 2.49% year on year to Rs 159.85 crore in the quarter ended 31 March 2024.

Meanwhile, the firm?s board has proposed a dividend of Rs 7 per equity share for the year ended 31 March 2024. Further, the company?s board has recommended a bonus issue in proportion of 1:4.

AU Small Finance Bank gained 2.64% after the bank reported 26% increase in total deposits to Rs 87,182 crore as on 31 March 2024 as against Rs 69,365 crore as on 31 March 2023.

RBL Bank rose 0.93%. The bank?s total deposits jumped 22% to Rs 103,454 crore as on 31 March 2024 from Rs 84,887 crore recorded in 31 March 2023.

Poonawalla Fincorp shed 0.51%. The company announced that it has recorded highest ever total disbursements at Rs 9,680 crore, up 52% YoY as compared Rs 6,371 crore posted in Q4 FY23.

Global Markets:

European stocks advanced while most of Asian stocks ended mixed on Thursday taking some positive cues from a mildly stronger overnight close on Wall Street. Markets in Hong Kong, mainland China and Taiwan are closed for a public holiday.

U.S. stocks closed mixed on Wednesday as investors digest comments from U.S. Federal Reserve Chairman Jerome Powell. Powell said it would take a while for policymakers to evaluate the current state of inflation, keeping the timing of potential interest rate cuts uncertain.

As per provisional closing data, the barometer index, the S&P BSE Sensex declined 27.09 points or 0.04% to 73,876.82. The Nifty 50 index added 18.65 points or 0.08% to 22,434.65.

The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index added 0.61% and the S&P BSE Small-Cap index gained 1.18%.

The market breadth was strong. On the BSE, 2,798 shares rose and 1,054 shares fell. A total of 113 shares were unchanged.

The three-day meeting of the Monetary Policy Committee of the Reserve Bank of India (RBI) kicked off today. RBI Governor Shaktikanta Das will unveil the decision of the first monetary policy meeting of the financial year 2024-25 on Friday, 5 April 2024.

Economy:

The World Bank on April 2 raised its GDP growth projection for India by 20 basis points to 6.6% in FY25. The global agency's projection for FY25 is significantly moderate compared to the estimate of a real GDP growth of 7.5% in the current financial year. However, it expects growth to pick up in subsequent years as a decade of robust public investment starts yielding dividends.

New Listing:

Shares of SRM Contractors were locked in an upper circuit of 5% at Rs 236.20 on the BSE, representing a premium of 12.48% as compared with the issue price of Rs 210.

The scrip was listed at Rs 225, exhibiting a premium of 7.14% to the issue price.

The stock has hit a high of 236.20 and a low of 213.75. On the BSE, over 3.49 lakh shares of the company were traded in the counter.

IPO Update:

The initial public offer (IPO) of Bharti Hexacom received 1,18,82,234 bids for shares as against 4,12,50,000 shares on offer, according to stock exchange data at 15:42 IST on Wednesday (3 April 2024). The issue was subscribed 0.29 times.

The issue opened for bidding on Wednesday (3 April 2024) and it will close on Friday (5 April 2024). The price band of the IPO is fixed at Rs 542 to 570 per share. An investor can bid for a minimum of 26 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Realty index rose 2.58% to 924.85. The index witnessed profit booking after climbing 14.49% in the past eight trading sessions.

Macrotech Developers (down 4.5%), Godrej Properties (down 3.79%), DLF (down 3.23%), Oberoi Realty (down 1.91%), Mahindra Lifespace Developers (down 1.64%), Phoenix Mills (down 1.13%), Brigade Enterprises (down 0.7%), Prestige Estates Projects (down 0.66%) slipped.

Stocks in Spotlight:

UltraTech Cement shed 0.34%. The cement major informed about the commissioning of two greenfield capacities - 2.70 mtpa cement grinding unit at Karur, Tamil Nadu and 2.70 mtpa integrated cement plant at Kukurdih, Chhattisgarh, taking the company?s total cement capacity to 151.6 mtpa.

Yes Bank rallied 3.17% after the bank reported 14.1% rise in loans & advances to Rs 228,465 crore as against Rs 200,201 crore as on 31 March 2023. The bank has recorded 5% growth in loans as compared with the figure of Rs 217,523 crore recorded as on 31 March 2023.

JSW Energy surged 7.21% after the company?s board approved to raise Rs 5,000 crore through qualified institutional placement (QIP) of equity shares with floor price of Rs 510.09 per share.

Hindustan Zinc advanced 3.97% after the company announced that its mined metal production stood at 299,000 tonne in Q4 FY24, registering a growth of 11% QoQ.

Granules India rose 2%. The drug maker has announced that it has received a communication from the United States Food and Drug Administration (USFDA) indicating the inspection classification as ?Voluntary Action Indicated? (VAI). The inspection was conducted at company?s wholly-owned foreign subsidiary, Granules Pharmaceuticals, Inc. (GPI), located in Chantilly, Virginia, USA.

Adani Green Energy (AGEL) lost 0.67%. The company announced that it has surpassed 10,000 megawatt (MW) of operational portfolio, delivering reliable, affordable and clean power to the national grid. AGEL?s operational portfolio consists of 7,393 MW solar, 1,401 MW wind and 2,140 MW wind-solar hybrid capacity.

Anupam Rasayan gained 1.61% after the company has signed letter of intent worth revenue of about $90 million (Rs 743 crore) over next 7 years with one of the leading Japanese company to supply two advance intermediates using fluorination chemistry.

Gensol Engineering was locked in an upper circuit of 5% after the company announced that it has recorded the highest ever revenue, surpassing Rs 960 crore in the financial year ended on 31 March 2024.

Global Markets:

Most of the European stocks advanced while Asian stocks declined on Wednesday, as U.S. yields held near four-month highs.

A powerful earthquake with a magnitude of 7.2 rocked Taipei, the capital, sparking a tsunami warning for the islands of southern Japan and the Philippines.

China?s service sector activity expanded at its fastest pace since December, according to surveys from Caixin. The services purchasing managers index in China rose to 52.7 in March, up from 52.5 in February.

US stocks fell on Tuesday as investors weighed chances that the Federal Reserve could delay cutting interest rates. Tesla?s first-quarter vehicle deliveries dropped 8.5% from a year ago, sending shares of the U.S. EV.

As per provisional closing data, the barometer index, the S&P BSE Sensex, was down 110.64 points or 0.15% to 73,903.91. The Nifty 50 index shed 8.70 points or 0.04% to 22,453.30. Both the indices advanced over 2% in the past three trading sessions.

The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index added 1.14% and the S&P BSE Small-Cap index gained 1.28%.

The market breadth was strong. On the BSE, 2,847 shares rose and 1,004 shares fell. A total of 108 shares were unchanged.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, slipped 3.55% to 11.65.

Economy:

The seasonally adjusted HSBC India manufacturing purchasing managers? index (PMI) climbed to a 16-year high of 59.1 in March, from 56.9 in February.

The notable improvement in operating conditions reflected stronger growth of new orders, output and input stocks as well as renewed job creation.

The HSBC India PMI climbed to a 16-year high on the back of the strongest increases in output and new orders since October 2020, parallel to the second-sharpest upturn in input inventories in the history of the survey. Employment returned to positive territory and firms scaled up buying levels. There was a mild pick-up in cost pressures during March, but customer retention remained a priority for goods producers who raised their charges to the least extent in over a year, the press release stated.

Buzzing Index:

The Nifty Auto index rose 1.07% to 21,614.25. The index gained 1.08% in the past trading sessions.

Mahindra & Mahindra (up 3.11%), Bajaj Auto (up 2.62%), Balkrishna Industries (up 1.97%), Bosch (up 1.96%) , Tata Motors (up 1.31%), MRF (up 1.3%), Exide Industries (up 1.27%), Apollo Tyres (up 1.18%), Ashok Leyland (up 0.97%) and Tata Motors-DVR (up 0.89%) advanced.

On the other hand, Hero MotoCorp (down 2.58%), Eicher Motors (down 0.69%) edged lower.

Ashok Leyland rose 0.97%. The company said that its total vehicle sales have declined by 4% to 22,866 units in March 2024 as compared with 23,926 units in March 2023.

Bajaj Auto added 2.62% after the company reported 25% increase in total auto sales to 3,65,904 units in March 2024 as compared with 2,91,567 sold in March 2023.

Atul Auto shed 0.30%. The company said that its total sales shed 0.82% in March 2024 to 3,128 units as against 3,154 units sold in March 2023.

Hero MotoCorp slipped 2.58% . The company said that its total sales fell 5.57% to 490,415 units in March 2024 as against 519,342 units sold in March 2023.

Stocks in Spotlight:

Servotech Power Systems was locked in an upper circuit of 5% after the company and Electra EV has collaborated for innovative EV charging technologies.

South Indian Bank slipped 3.95%. The private lender said that its gross advances jumped 11.44% to Rs 80,337 crore as of 31 March 2024 as against Rs 72,092 crore as of 31 March 2023.

CSB Bank added 2.56% after the bank's total deposits jumped 21.27% to Rs 29,719 crore as on 31 March 2024 from Rs 24,506 crore as on 31 March 2023.

Computer Age Management Services (CAMS) surged 6.52% after the company announced its subsidiary, CAMS Repository (CAMSREP), will handle the issuance of all digital insurance policies in India.

Mankind Pharma jumped 3.65% after the company?s board approved the sale of Over the Counter (OTC) business of the company to wholly owned subsidiary company on slump sales basis.

J.K Cement rose 1.48% after the cement maker announced that its board has approved increase in the borrowing limit of the company to Rs 12,000 crore from Rs 7500 crore at required time.

Aeroflex Industries gained 3.05% after the company said that its board has approved to acquire 100% of the issued and paid-up share capital of Hyd-Air Engineering from the existing shareholders of the investee company.

Global Markets:

Most of the Europe and Asia stocks advanced on Tuesday. Investors were awaiting for jobs data for further insight into the U.S. labour market.

U.S. stocks closed mostly lower on Monday to kick off the second quarter, pausing a rally that has recently brought all three indexes to fresh record highs.

US manufacturing grew for the first time in 1-1/2 years in March. The Institute for Supply Management (ISM) said on Monday that its manufacturing PMI increased to 50.3 last month, from 47.8 in February.

As per provisional closing data, the barometer index, the S&P BSE Sensex, was up 363.20 points or 0.49% to 74,014.55. The Nifty 50 index added 135.10 points or 0.61% to 22,462. Both the indices advanced over 2% in three trading sessions.

The Sensex and Nifty clocked an all-time high of 74,254.62 and 22,529.95, respectively in morning trade.

The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index added 1.64% and the S&P BSE Small-Cap index gained 2.98%.

The market breadth was strong. On the BSE, 3,230 shares rose and 674 shares fell. A total of 154 shares were unchanged.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, dropped 5.84% to 12.08.

Economy:

India?s forex reserves rose $140 million during the week ended March 22 to touch its all-time high of $642.631 billion, according to the latest RBI data. This is the fifth consecutive week of a jump in the overall reserves.

For the week ended March 22, the foreign currency assets decreased by $123 million to $568.264 billion. Gold reserves rose $347 million to $51.487 billion during the week. The special drawing rights (SDRs) were down by $57 million to $18.219 billion, the RBI said.

India?s reserve position with the IMF was also down by $27 million to $4.662 billion in the reporting week, the RBI data showed.

Meanwhile, the combined Index of Eight Core Industries (ICI) increased by 6.7% (provisional) in February 2024 as compared to the Index of February 2023. The final growth rate of Index of Eight Core Industries for November 2023 is revised to 7.9%. The cumulative growth rate of ICI during April to February, 2023-24 is 7.7% (provisional) as compared to the corresponding period of last year.

Buzzing Index:

The Nifty Realty index jumped 4.21% to 938.60. The index surged 13.19% in the seven trading sessions.

Sunteck Realty (up 9.35%), Prestige Estates Projects (up 7.08%), Sobha (up 6.41%), Mahindra Lifespace Developers (up 6.32%), DLF (up 5.64%), Godrej Properties (up 4.06%), Macrotech Developers (up 3%), Brigade Enterprises (up 2.26%), Oberoi Realty (up 2.02%) and Phoenix Mills (up 1.98%) advanced.

March auto sales impact:

Tata Motors shed 0.09%. The auto major's total domestic sales rose 2% to 90,822 units sold in March 2024 as against 89,351 units sold in March 2023. Total passenger vehicle (PV) sales increased 14% to 50,297 units sold in March 2024 as compared to 44,225 units sold in March 2023.

Mahindra & Mahindra (M&M) shed 0.29%. The company announced that its overall auto sales for the month of March 2024 stood at 68,413 vehicles, registering a growth of 3.51% as against 66,091 vehicles sold in March 2023.

Eicher Motors shed 1.95%. The auto maker's unlisted subsidiary, VE Commercial Vehicles (VECV) reported 5.6% year on year decrease in commercial vehicles (CV) sales to 11,242 units in March 2024.

Escorts Kubota added 2.61% after said that the company?s Agri Machinery Business has sold 8,587 tractors in March 2024, which is lower by 16.7% as compared with sales of 10,305 tractors recorded in March 2023.

Maruti Suzuki India shed 0.22%. The company announced that its total sales grew by 10.06% to 1,87,196 units in March 2024 as against 1,70,071 units sold in March 2023.

Steel Strips Wheels (SSWL) jumped 5.38% after the company achieved net turnover of Rs 340.72 crore in March 2024 as compared with Rs 367.69 crore in March 2023, recording de-growth of 7.34% YoY.

Stocks in Spotlight:

Infosys shed 0.20%. The company said that it is expecting a refund of Rs 6,329 crore from the Income Tax Department, Government of India for assessment years 2007-08 to 15-16, 17-18 & 18-19 during the quarter.

Adani Total Gas (ATGL) jumped 4.81% after the company?s wholly owned subsidiary, Adani TotalEnergies Biomass said that it has commissioned operations at phase 1 of Barsana Biogas Plant, located in the Mathura, Uttar Pradesh.

NCC rallied 4.43% to Rs 244.95 after the company said that it has received new orders worth Rs 3,086 crore in the month of March, 2024.

G.M. Breweries zoomed 13.23% after said that the company?s board will meet Thursday, 04 April 2024, to consider a proposal for issue of bonus shares by way of capitalization of reserves, subject to approval from members of the company.

Man Industries (India) was locked in an upper circuit of 5% after the firm said that its board has appointed Sanjay Kumar Agrawal as the chief financial officer (CFO) and key managerial personnel of the company effective from 1 April 2024.

Prestige Estates Projects surged 7.68% after the company through its subsidiaries, has entered into landmark deal with (Abu Dhabi Investment Authority) ADIA and Kotak AIF for Rs 2,001 crore ($240 Million).

Confidence Petroleum India surged 8.21% after the company commissioned three new CNG stations in Bangalore.

Global Markets:

The US Dow Jones index futures were currently up by 111 points, signaling a positive opening for US stocks today.

European stocks advanced while Asian stocks ended mixed on Monday as US inflation figures reaffirmed bets for the Federal Reserve to ease policy this year and China?s economic recovery gained momentum. Australian and Hong Kong markets are closed for Easter Monday.

China?s National Bureau of Statistics data showed that manufacturing activity expanded in March, with the purchasing managers index registering a reading of 50.8, compared to February?s reading of 49.1.

U.S. markets remained closed on Friday in observance of Good Friday. The core personal consumption expenditures price index rose 0.3% in February after climbing in the previous month, marking its biggest back-to-back gain in a year. The measure is up 2.8% from a year earlier.

Fed Chair Jerome Powell said Friday the central bank?s preferred gauge of inflation was ?pretty much in line with our expectations.? Powell added that it wouldn?t be appropriate to lower rates until officials are sure inflation is in check. Investors are betting the US central bank will make that first cut in June, as per reports.

As per provisional closing data, the barometer index, the S&P BSE Sensex jumped 655.04 points or 0.90% to 73,651.35. The Nifty 50 index gained 203.25 points or 0.92% to 22,326.90.

In the broader market, the S&P BSE Mid-Cap index rose 0.62% and the S&P BSE Small-Cap index added 0.33%.

The market breadth was negative. On the BSE, 1,807 shares rose and 2,017 shares fell. A total of 114 shares were unchanged.

The domestic market will remain closed on 29 March 2024, on account of Good Friday.

Economy:

The Reserve Bank of India (RBI) has announced the schedule for future meetings of its Monetary Policy Committee (MPC) yesterday. The central bank will hold it?s the first three-day meeting from April 3 till April 5. The second meeting will be held from June 5-7 while the next meeting is scheduled between August 6-8.

IPO Update:

The initial public offer (IPO) of SRM Contractors received 34,88,58,790 bids for shares as against 43,40,100 shares on offer, according to stock exchange data at 15:30 IST on Thursday (28 March 2024). The issue was subscribed 80.38 times.

The issue opened for bidding on Tuesday (26 March 2024) and it will close on Thursday (28 March 2024). The price band of the IPO is fixed at Rs 200 to 210 per share. An investor can bid for a minimum of 70 equity shares and in multiples thereof.

Buzzing Index:

The Nifty PSU Bank index rallied 2.67% to 7,010.75. The index fell 0.97% in the previous trading session.

Punjab & Sind Bank (up 6.39%), Bank of Maharashtra (up 5.49%), UCO Bank (up 4.94%), Indian Overseas Bank (up 4.83%), Indian Bank (up 4.31%), Central Bank of India (up 4.28%), Bank of India (up 4.09%), Canara Bank (up 2.97%), State Bank of India (up 2.52%) and Bank of Baroda (up 2.18%) advanced.

Stocks in Spotlight:

Dr Reddy's Laboratories gained 1.82% after the company said that it has entered into an exclusive partnership with Sanofi Healthcare India (SHIPL) to promote and distribute SHIPL vaccine brands across private markets in India.

Biocon added 2.77% after the company announced that it has received approval from the Medicines and Healthcare Products Regulatory Agency (MHRA), U.K., for its complex formulation Liraglutide.

Larsen and Toubro (L&T) gained 1.24% after the EPC major announced that its wholly owned subsidiary, L&T GeoStructure has secured ?significant? multiple orders from across India.

Zydus Lifesciences rose 0.82% after the company said that US Food and Drug Administration (USFDA) conducted an inspection at the SEZ Onco Injectable manufacturing plant at Ahmedabad, Gujarat.

JSW Energy gained 2.23% after the company's board will meet on Tuesday, 2 April 2024 to consider raising funds through various modes.

Adani Power rallied 3.16% the company's wholly owned subsidiary, Mahan Energen (MEL) has entered into a significant 20 year power purchase agreement (PPA) with Reliance Industries (RIL) under the electricity rules, 2005.

Bharat Heavy Electricals (BHEL) rose 1.61% after the company has received letter of award (LoA) from Adani Power for setting up the 2x800 MW Raigarh Phase-II Thermal Power Plant at Raigarh, Chhattisgarh.

Mukka Proteins tumbled 8.04% after the company?s net profit declined 55.79% to Rs 10.47 crore in Q3 FY24 as compared with Rs 22.64 in Q3 FY23. Revenue from operations jumped 28.11% YoY to Rs 501.65 crore in Q3 FY24.

NHPC added 1.26%. The company's board approved the proposal for raising of debt upto Rs 6,100 crore during financial year 2024-25.

Kalpataru Projects International (KPIL) rose 1.05%. The company, along with its joint ventures (JVs) and international subsidiaries has secured new orders/notification of awards of Rs 2,071 crore.

Global Markets:

European stocks advanced while most of the Asian stocks declined on Thursday as sentiment remained strained ahead of key U.S. inflation data and addresses by Federal Reserve officials.

Wall Street indexes rose sharply on Wednesday, rebounding after three days of losses as a drop in bond yields help spur strong gains in utility stocks. S&P 500 closed at record high.

Fed Governor Christopher Waller said that there is no hurry to cut interest rate right now. Current inflation reading suggests rates can stay at current level for longer to bring down the inflation sustainably to 2% target rate, Waller reportedly said at Economic Club in New York.

Markets are now awaiting more cues on inflation from PCE price index data- which is the Fed?s preferred inflation gauge. The data is due on Friday, when markets will be closed, but is largely expected to factor into the outlook for U.S. interest rates. Along with the PCE data, addresses from Fed Chair Jerome Powell is also due on Friday.

As per provisional closing data, the barometer index, the S&P BSE Sensex jumped 526.01 points or 0.73% to 72,996.31. The Nifty 50 index gained 118.95 points or 0.54% to 22,123.65.

In the broader market, the S&P BSE Mid-Cap index rose 0.01% and the S&P BSE Small-Cap index added 0.70%.

The market breadth was weak. On the BSE, 1,528 shares rose and 2,310 shares fell. A total of 111 shares were unchanged.

IPO Update:

The initial public offer (IPO) of SRM Contractors received 5,68,79,060 bids for shares as against 43,40,100 shares on offer, according to stock exchange data at 15:20 IST on Wednesday (27 March 2024). The issue was subscribed 13.11 times.

The issue opened for bidding on Tuesday (26 March 2024) and it will close on Thursday (28 March 2024). The price band of the IPO is fixed at Rs 200 to 210 per share. An investor can bid for a minimum of 70 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Realty index rose 0.85% to 895.75. The index rallied 8.02% in five trading sessions.

Prestige Estates Projects (up 4.12%), Swan Energy (up 2.12%), Mahindra Lifespace Developers (up 1.91%), Brigade Enterprises (up 1.59%), Oberoi Realty (up 1.47%), Phoenix Mills (up 0.79%), DLF (up 0.72%) and Godrej Properties (up 0.39%) advanced.

On the other hand, Macrotech Developers (down 1.42%) and Sobha (down 0.39%), edged lower.

Stocks in Spotlight:

Larsen & Toubro (L&T) rose 0.75%. The EPC major announced that its construction arm has secured ?large' orders for its Buildings & Factories business in the domestic and international markets.

Angel One jumped 9.51% after the stockbroker announced that its board approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 2,555.01 per share.

Dynacons Systems & Solutions was locked in upper circuit of 20% after the company announced that it has been awarded a significant contract worth Rs 41.72 crore by the National Payments Corporation of India (NPCI) for a Data Centre Tech Refresh initiative.

Wockhardt was locked in upper circuit of 5% after pharmaceutical company announced the completion of fundraising of Rs 480 crore through qualified institutional placement (QIP) of equity shares.

Piramal Enterprises fell 2.41%. The company has invested Rs 2,000 crore in its wholly owned subsidiary, Piramal Capital & Housing Finance (PCHFL) by way of subscription to rights issue.

V2 Retail rallied 3.25% after the company said that the credit rating agency ICRA has upgraded its rating on the company?s fund-based ? working capital facilities to '[ICRA] BBB? from '[ICRA] BBB-? with 'stable? outlook.

Sanofi India added 3.24% after the compnay announced an exclusive partnership with Cipla for initial period of five years for distribution and promotion of its central nervous system (CNS) product range in India.

Global Markets:

The US Dow Jones index futures were currently up by 159 points, signaling a positive opening for US stocks today.

European shares traded mixed on Wednesday as investors were assessing Spanish inflation data, which came in at 3.2% for March, and French consumer confidence data indicated a moderate improvement.

Asian stocks ended mixed as traders assessed economic data from China and Australia. China?s combined industrial profit for January and February climbed 10.2% year on year, data showed.

Industrial profits fell 2.3% for the whole of 2023. Data from Australia showed consumer price inflation in February rose 3.4% year over year.

U.S. stocks slipped on Tuesday as investors awaited economic data in a holiday-shortened week to gauge the Federal Reserve's policy path. The Personal Consumption Expenditure data is due to be released on Friday.