April MF Data
Net equity inflow at Rs 15,648 crore against Rs 28,252.4 crore inflow and hybrid fund inflow was at Rs 7240 crore versus Rs 3,604 crore inflow, MoM.
The liquid fund inflow stood Rs 28,731 crore versus Rs 44,604 crore inflow and ETF inflow was at Rs 8,663 crore versus Rs 6,906.5 crore inflow, MoM.
Reliance Industries’ Leverage to Remain Low, Despite High Investments: Fitch Ratings
Reliance Industries Ltd's (RIL, BBB/Negative) net leverage will remain below 1.0x in the medium term on strong cash flow generation across its business segments, even as the India-based conglomerate increases investments in new energy and new materials business, Fitch Ratings says.
We expect RIL’s EBITDA generation to remain resilient, improving by 14% yoy in the financial year ending March 2023 (FY23), as it benefits from diversified cash flow streams. We estimate capex, including investments, will remain high at around INR1 trillion (FY22 capex: INR1.19 trillion, including prepayment of the telecom spectrum liabilities), it added.
European Markets Updates
Tapan Patel, Senior Analyst (Commodities), HDFC Securities
Crude oil prices traded higher with benchmark NYMEX WTI crude oil were trading 0.80% up near $103.90 per barrel. Crude oil prices pared some previous loses taking support near $100 per barrel on higher demand and tight supplies. The higher demand from refiners ahead of summer driving season and lower inventories has lent support to the oil prices. We expect crude oil prices to trade up with resistance at $110 per barrel and support at $100 per barrel. MCX crude oil May contract has important support at Rs 7810 and resistance at Rs 8150 per barrel.
Ajanta Pharma Q4: Consolidated net profit went down 5% at Rs 151.2 crore against Rs 159.3 crore (YoY). Consolidated revenue was up 15% at Rs 870.3 crore against Rs 756.8 crore (YoY). Consolidated EBITDA slipped 20.3% at Rs 206.7 crore against Rs 259.4 crore (YoY). Consolidated EBITDA margin at 23.7% against 34.3% (YoY).
Adani Green share price was trading at Rs 2,536.40, down Rs 171.60, or 6.34 percent. It has touched an intraday high of Rs 2,757.30 and an intraday low of Rs 2,523.
Polycab India Q4: Net profit was up 19% at Rs 322.1 crore against Rs 271.1 crore (YoY). Revenue was up 35% at Rs 3,979 crore against Rs 2,943 crore (YoY). EBITDA rose 18% at Rs 476.2 crore against Rs 404 crore (YoY). EBITDA margin at 12% against 13.7% (YoY).
Asian Paints Q4: Net profit rose marginally 0.5% at Rs 874 crore against Rs 869.9 crore (YoY). Revenue was up 18.7% at Rs 7,893 crore against Rs 6,651.4 crore (YoY). EBITDA rose 9.5% at Rs 1,443 crore against Rs 1,318.3 crore (YoY) while EBITDA margin came in at 18.3% against 19.8% (YoY). Decorative business volume growth at 8% while international business delivered double-digit revenue growth. Industrial coatings business saw double-digit revenue growth.
Market Update at 2 PM: Sensex is up 198.70 points or 0.36% at 54669.37, and the Nifty added 27.60 points or 0.17% at 16329.50.
Jet Airways clarified on reports of 'Jet Airways 2.0 gets security clearance'
Jet Airways clarified that the Successful resolution applicant is currently in the process of reviving the company and implementing the approved plan. As part of such revival, an application is required to be made to the Ministry of Civil Aviation regarding Security Clearance for change in Shareholding Pattern. The said application was made on December 13, 2021 and its approval was received on 06-May-2022, company said in its release.
The appointment of directors and change of shareholding has not occurred as yet and shall take place upon completion of the conditions precedent, as per the directions of the Hon’ble NCLT approving the Approved Plan, it added.
Jet Airways was quoting at Rs 99.80, up Rs 4.75, or 5.00 percent on the BSE.
Foreign brokerages cut target price of these 10 stocks; do you own any?
HDFC Life Insurance, HUL, Britannia, Wipro, UltraTech Cement and Indus Towers are among the ten stocks in which foreign broking houses cut the target price.
Malaysia may cut palm oil export tax to 4-6% from 8%
Malaysia is considering cutting its export tax on palm oil and plans to slow implementation of its biodiesel mandate to help meet global demand amid an edible oil shortage, its commodities minister told Reuters on Tuesday.
Plantation Industries and Commodities Minister Zuraida Kamaruddin said in an interview her ministry has already proposed the cut to the finance ministry, which has set up a committee to look into the details.
Malaysia, the world's second-largest palm oil producer, could cut the tax to 4 percent-6 percent from the current 8 percent, she said.
The cut would likely be temporary and a decision could be made as early as June, Zuraida said.
Market LIVE Updates: Indices trade higher led by auto, FMCG; metal, power, realty drag - Moneycontrol
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