Stock Market LIVE Updates: GIFT Nifty indicates a negative start; US markets fall, Asia trades mixed

The trading in equity shares of the company will commence on the NSE Emerge from May 23. The issue price has been set at Rs 97 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.

#1 Company is a play on doubling natural gas penetration in India’s primary energy mix

#2 Company ticks a lot of boxes as it grows capacity & utilisation rates

#3 Q4 core earnings of Rs 850 crore slightly missed estimates

Foreign portfolio investor White Iris Investment exited Apollo Tyres by selling its entire shareholding of 2,24,74,903 equity shares (equivalent to 3.54% of paid-up equity) at an average price of Rs 477.35 per share via open market transactions, amounting to Rs 1,072.8 crore.

However, Morgan Stanley Asia Singapore Pte, and ICICI Prudential Mutual Fund bought 82,03,897 equity shares (1.3% of paid-up equity) at same price, valued at Rs 391.6 crore.

Quant Mutual Fund has bought 10.51 lakh equity shares (equivalent to 1.16% of paid-up equity) in Aarti Pharmalabs at an average price of Rs 575.83 per share.

However, foreign portfolio investor Baron Emerging Markets Fund sold 8,61,792 equity shares at an average price of Rs 573 per share, valued at Rs 49.38 crore.

Axis Mutual Fund and Massachusetts Institute of Technology acquired 51.19 lakh equity shares (equivalent to 2.1% of paid-up equity) in Granules at an average price of Rs 405.1 per share.

Conversely, promoter Krishna Prasad Chigurupati sold 75 lakh shares (3.09% stake) in Granules at an average price of Rs 405.08 per share.

Hindustan Copper, Metropolis Healthcare, Aditya Birla Capital, Balrampur Chini Mills, Bandhan Bank, Biocon, Vodafone Idea, Indian Energy Exchange, India Cements, National Aluminium Company, Piramal Enterprises, Punjab National Bank, Zee Entertainment Enterprises.

#1 Q4 earnings missed expectations on weaker margin

#2 Current operating deleverage cycle has resulted in significant cuts to estimates

#3 Improved underlying demand remains key to a recovery

#4 LFL turned positive on a weak base, dine-in continues to decline

#5 Management believes Domino’s has gained market share within the Pizza format

#6 India business in investment mode for next few years

– Dhanlaxmi Bank: Q4 profit drops 91.3% to Rs 3.3 crore Vs Rs 38.2 crore

– Petronet LNG: Q4 profit jumps 23.5% to Rs 764.4 crore Vs Rs 618.8 crore

– GMM Pfaudler: Q4 profit declines 13.9% to Rs 28.7 crore Vs Rs 33.3 crore

– HEG: Q4 profit tanks 67% to Rs 32.9 crore Vs Rs 99.7 crore

– Jubilant FoodWorks: Q4 profit surges over 7-fold to Rs 207.5 crore Vs Rs 28.5 crore

– Oil India: Company signs new long-term definitive agreement with its subsidiary Numaligarh Refinery

Trends on GIFT Nifty indicate a weak start for the broader index in India, with a loss of 35.5v points or 0.16 percent. The Nifty futures were trading around 22,658.50 level.

ITC, InterGlobe Aviation, Honasa Consumer, Bayer Cropscience, Cello World, CESC, Concord Biotech, Finolex Cables, Page Industries, Tata Investment Corporation, and Zaggle Prepaid Ocean Services will release March quarter earnings on May 23.

#1 Company’s Q4 revenue declined 20 percent QoQ & will shrink another 30 percent in Q1FY25

#2 Q1FY25 revenue will shrink as full impact of RBI actions come through

#3 Payment & Commerce revenues can recover faster on higher marketing spend

#4 Scale-up of lending will be gradual for the company

#5 Expect topline recovery & cost control to drive positive cashflow

#6 Believe valuations (1.8x Jun’26 EV/Sales) capture near term pressure

The dollar hovered near a one-week high on Thursday following its best day this month against its major peers after minutes of the last Federal Reserve meeting revealed a willingness to raise interest rates among some officials.

The dollar index, which tracks the currency against six major rivals including the euro, sterling and yen, was little changed at 104.89 after gaining 0.28% overnight.