The Sensex fell 136.28 points, or 0.23 percent, to 57,060.87 for the week ending April 29, while the Nifty down 69.45 points, or 0.40 percent, to 17,102.5. Nifty media was down 6%, oil and gas was down 2.6 percent, and the IT index was down 2.5 percent. The Nifty FMCG index increased by 1%. During the week, foreign institutional investors (FIIs) sold Rs 11,446.52 crore worth of stocks, while domestic institutional investors (DIIs) purchased Rs 9,703.04 crore worth of stocks.
List of Top 7 stocks moved most in last week
- Coromandel International
- Indian Hotels
- JBM Auto
- HDFC Life Insurance
- Tata Teleservices
- Hero MotoCorp
- Varroc Engineering
Last week, the stock increased by 7%. The company's consolidated net profit increased 85.94 percent to Rs 289.79 crore in Q4 FY22 over Q4 FY21, thanks to a 49.63 percent increase in revenue from operations to Rs 4,226.81 crore. In Q4 March 2022, consolidated profit before tax (PBT) increased by 82.33 percent to Rs 388.96 crore, up from Rs 213.32 crore in Q4 March 2021. The company's overall net profit increased 14.99 percent year over year to Rs 1,528.46 crore. For the fiscal year 2021-22, the board proposed a final dividend of Rs 6 per equity share with a face value of Rs 1 each.
After the company declared a consolidated net profit of Rs 71.57 crore for the fourth quarter ended March 31, 2022, the stock price increased by 6%. In the same period of the previous year, IHCL reported a consolidated net loss of Rs 97.72 crore, according to a regulatory filing. During the quarter under review, consolidated income from operations was Rs 872.08 crore, up from Rs 615.02 crore the year before. According to the corporation, total costs in the fourth quarter were Rs 894.16 crore, up from Rs 754.15 crore in the same time a year ago. According to a media source, the company's managing director, Puneet Chhatwal, stated that the company aims to be "debt-free" by April 2023.
In the previous week, the stock price dropped 13%. JBM Auto Limited has agreed to purchase the remaining 20.10 percent investment in JBM Solaris Electric Vehicles Private Limited, a subsidiary of the business, consisting of 30,15,343 equity shares. The purchase was made from Solaris Bus & Coach SP. Z O.O., a joint venture partner. JBM Solaris Electric Vehicles Private Limited's paid-up equity share capital is already held by the Company at 70.90 percent. JBM Solaris EV will become a wholly-owned subsidiary of the Company following this transaction. For this transaction, it has set a cash consideration of Rs84.50 lakh.
HDFC Life Insurance
The stock rose more than 5% as the company announced a net profit of Rs 357.52 crore in the March quarter, up 12.4% from the previous quarter. The net profit was boosted by an increase of 11% in net premium income, which totaled Rs 14,289.6 crore. Management expenses increased 15% while net commissions declined 3.88 percent to Rs 620.7 crore for the period. Operating expenditures as a proportion of total premium increased slightly to 12.3% from 12% a year earlier. Morgan Stanley maintains an overweight rating on the company, with a target price of Rs 675.
As the business announced its March quarter earnings, the stock was down nearly 16%. Tata Teleservices (Maharashtra) recorded a net loss of Rs 280.62 crore in the quarter ended March 2022, compared to a net loss of Rs 288.29 crore in the preceding quarter. In the quarter ending March 2022, sales increased by 2.82 percent to Rs 272.78 crore, up from Rs 265.29 crore in the preceding quarter.
In the previous week, the company's stock rose by more than 9%. According to a Motilal Oswal research, two-wheeler stocks benefited from increased demand in April 2022 owing to the festive and continuing wedding season. "Demand increased in April 2022 as a result of the festival (Navratri) and ongoing wedding season, which began around April 20th 2022)."
Furthermore, improved cash flows in the rural economy as a result of Rabi corp harvesting are aiding demand resurgence, according to the trading business. According to HDFC Securities' Vinay Rajani, the stock has lately surpassed key resistance of the 50-day EMA (exponential moving average). The auto industry has begun to outperform.
After the company choose to sell its four-wheeler lighting business in the Americas and Europe for 600 million euros, the stock rose 5%. "Varroc, in conjunction with its wholly-owned subsidiary VarrocCorp Holding BV Netherlands, has agreed into a divestiture agreement with Compagnie Plastic Omnium Se, France," the business stated in a statement. Varroc will continue to manage its China joint venture as well as other international two-wheeler operations in Italy and Vietnam, as well as worldwide electronics businesses in Poland and Romania. In Asia, the corporation will keep its four-wheeler lighting activities. In addition, the board provided its in-principle permission for the establishment of a fully owned subsidiary in India to pursue R&D.