Nifty, Sensex may move sideways – Weekly closing report
Moneylife Digital Team
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We had mentioned in previous week’s closing report that Nifty, Sensex may move sideways. The major indices opened lower but rallied and ended with decent gains. The trend of the major indices in the week is given in the table:
On Monday, the indices opened lower but recovered its losses and ended flat. On the NSE, there were 1,166 advances, 786 declines and 106 unchanged.
Reliance Industries consolidated net profit for the March 2021 quarter doubled to Rs 13,227 crore from Rs 6,348 crore in the corresponding quarter of the previous year, due to a low base. Revenue grew to Rs 1,49,575 crore, up 10% YoY.
L&T Technology Services (LTTS) s consolidated net profit rose 4.5% to Rs 195.30 crore on 2.8% increase in revenue from operations to Rs 1,440.50 crore in Q4 FY21 over Q3 FY21.
In USD terms, the revenue during Q4 FY21 stood at $197.50 million, registering a growth of 3.9% Q-o-Q (quarter-on-quarter). The EBIT margin was at 16.6% in Q4 FY21, rising 140 bps Q-o-Q.
During the quarter, L&T Technology Services (LTTS) won six deals with TCV of $10 million plus, which includes two $25 million plus deals. The revenues from digital and leading-edge technologies stood at 52% during the quarter.
Amit Chadha, the chief executive officer (CEO) and managing director (MD) of L&T Technology Services, said: We are exiting FY21 on an optimistic note post three consecutive quarters of strong deal wins and sequential revenue and operating margin improvement. The annual free cash flow generation at ₹1,252 crores was at a record high. I am happy to note that in Q4, our revenue is back on the positive
IDBI Bank, Tata Motors and 50 other stocks look set to rally, signals MACD
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Some of these stocks sending out bullish signals gained up to 13% in Tuesday s trade so far.
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NBCC and UPL, looked strong on momentum oscillator MACD or moving average convergence divergence on Tuesday.
The momentum indicator signalled bullish crossovers a sign of bullish undertone on these counters, hinting at possible upsides in the days ahead. Some of these stocks have climbed up to 13 per cent in Tuesday s trade so far.
At 9:40 am, IDBI Bank was trading 3.87 per cent higher at Rs 37.50, Adani Enterprises advanced 3.09 per cent to Rs 1,294.35, NBCC was up 3.25 per cent at Rs 42.90, UPL added 1.6 per cent to Rs 627.60. Tata Motors rose 0.7 per cent to Rs 295.05
L&T Technology Services Limited reappoints Mr N Kumar as independent director equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Sensex wobbles around flatline as Covid cases fall slightly. What else is impacting market
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ONGC was the top gainer on the 50-scrip index, up 1.76 per cent.
The S&P BSE Sensex index rose as much as 278.01 points to touch 48,996.53 in early deals.
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NEW DELHI: Dalal Street started Tuesday s session with some gains as investors witnessed a drop in total coronavirus infections, but benchmark indices slipped below the flatline with risks still remaining high.
This bull market, which has been climbing many walls of worries, is likely to remain resilient supported by positive news on the Covid front, said an analyst. The latest data indicates plateauing of the Covid curve and a steady decline in Covid numbers in 13 states including Maharashtra.