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<ul><li>Equity benchmark indices rebounded in early trade amid optimistic investors' sentiment boosted by a record high GST collections.</li><li>The 30-share <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> climbed 204.88 points to 74,687.66 in early trade.</li><li>Power Grid, Mahindra &amp; Mahindra, Asian Paints, Tata Steel, <keyword id="20026907" type="General" weightage="20" keywordseo="sun-pharma" source="keywords">Sun Pharma</keyword> and HDFC Bank were among the major gainers.</li></ul>Equity benchmark indices rebounded in early trade on Thursday amid optimistic investors' sentiment boosted by a record high GST collections in April and <keyword id="20072947" type="General" weightage="20" keywordseo="foreign-fund-inflows" source="keywords">foreign fund inflows</keyword>. The 30-share BSE Sensex climbed 204.88 points to 74,687.66 in early trade. The <keyword id="19950205" type="General" weightage="20" keywordseo="NSE-Nifty" source="keywords">NSE Nifty</keyword> went up by 57.35 points to 22,662.20. From the Sensex basket, Power Grid, Mahindra &amp; Mahindra, Asian Paints, Tata Steel, Sun Pharma and HDFC Bank were among the major gainers. Kotak Mahindra Bank, Maruti, Wipro and Titan were among the laggards. Goods and Services Tax collections grew 12.4 per cent to a record high of Rs 2.10 lakh crore in April, aided by strong economic momentum and increased domestic transactions and imports, the finance ministry said on Wednesday. The GST collections have breached the Rs 2 lakh crore-mark for the first time in April this year, it said in a statement. "The domestic cues are strongly positive. The GST collection for April setting a record of Rs 2.1 trillion indicates a booming economy," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. In Asian markets, Tokyo and Hong Kong were trading with gains while Seoul and Shanghai quoted lower. Wall Street ended on a mixed note on Wednesday. Global oil benchmark Brent crude climbed 0.53 per cent to USD 83.88 a barrel. Foreign Institutional Investors (FIIs) bought equities worth Rs 1,071.93 crore on Tuesday, according to exchange data. "Positive factors include record-high GST revenue, FIIs and DIIs being net buyers, and WTI oil prices falling below USD 80 a barrel," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. Domestic <keyword id="19949641" type="General" weightage="20" keywordseo="equity-markets" source="keywords">equity markets</keyword> were closed on Wednesday on account of Maharashtra Day. Snapping its two-day winning run, the BSE benchmark declined 188.50 points or 0.25 per cent to settle at 74,482.78 on Tuesday. The NSE Nifty dipped 38.55 points or 0.17 per cent to finish at 22,604.85. SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank">India T20 World Cup squad: KulCha back on menu, KL Rahul dropped</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank">Upcoming cars and two-wheelers launching in India in May 2024</a><a href="https://www.businessinsider.in/business/auto/news/mahindra-xuv-3xo-compact-suv-launched-in-india-starting-at-7-49-lakh/slidelist/109715525.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/mahindra-xuv-3xo-compact-suv-launched-in-india-starting-at-7-49-lakh/slidelist/109715525.cms" target="_blank">Mahindra XUV 3XO compact SUV launched in India starting at ₹7.49 lakh</a>

Markets trade firm in early trade as GST revenues hit record in April

<ul><li>Sector watchers anticipate robust double-digit year-over-year revenue growth for most 4-wheeler companies </li><li>Analysts are optimistic about <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>’ profit margins due to strong JLR sales. </li><li>Sales volumes of two-wheelers (2W) have experienced a slight year-on-year decline. </li></ul>The <keyword id="46265" type="General" weightage="20" keywordseo="auto-sector" source="Orion">auto sector</keyword> has been recovering, albeit slowly, after the pandemic. The second quarter of the current financial year (FY2024) saw wholesale trends exhibit a mixture of outcomes, with most segments experiencing an increase in sales volumes. Three-wheeler (3W) sales showed a significant year-on-year (Y-o-Y) recovery, while passenger vehicles (PV) saw growth in the mid-single digits, according to the India Autos report by BNP Paribas. However, sales volumes of two-wheelers (2W) experienced a slight year-on-year decline. A closer look at retail volume market share shows that in the 2W segment, <keyword id="6359783" type="General" weightage="20" keywordseo="bajaj-auto" source="Orion">Bajaj Auto</keyword> lost 2.3 percentage points in market share when compared to the same period the year before, while Honda Motorcycle &amp; Scooter India lost 0.9% market share. Meanwhile TVS Motor Company and Suzuki gained market share by 1.7 and 1.1 percentage points respectively in the same time period. In the PV segment, <keyword id="50805" type="General" weightage="20" keywordseo="mahindra-and-mahindra" source="Orion">Mahindra and Mahindra</keyword>, Toyota and <keyword id="44883" type="General" weightage="20" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> India gained market share of 1.6, 1 and 1 percentage points respectively year-on-year, while Tata Motors and Kia lost market share by 0.6 and 1.1 percentage points respectively. Experts anticipate robust double-digit year-over-year revenue growth for most companies, with the exception of Bajaj Auto and Hero MotoCorp Limited. Substantial volume growth in the last quarter has been observed, except for the 2W segments, which has allowed them to take advantage of operational efficiency and a favourable product mix. <cmsannotation type="cmsannotation" annotationid="Analysts are optimistic about Tata Motors’ profit margins" comment="Subhead" text="Analysts are optimistic about Tata Motors’ profit margins">Analysts are optimistic about Tata Motors’ profit margins</cmsannotation> Analysts at BNP Paribas are optimistic about Tata Motors' profit margins due to strong Jaguar Land Rover (JLR) sales. In regards to other companies, they expect mixed or in-line results when compared to consensus expectations. The analysts take a pessimistic stance on the two-wheeler (2Ws) sector, citing expectations of persistently low growth, subdued festive seasons, the disruptive influence of electric vehicles (EVs), and heightened competition that could negatively impact the sector's profitability. However, they express preference for passenger vehicle original equipment manufacturers (OEMs) such as Maruti Suzuki, Mahindra and Mahindra, as well as globally-oriented companies like Tata Motors. These companies are better positioned to achieve sales growth and maintain healthy margins during the economic upswing, particularly due to their disciplined pricing strategies. Price targets (TPs) for select stocks have been increased, taking into account the shift in their valuation basis to September 2024, recent demand trends, and the inclusion of valuation related to Hero MotoCorp's (HMCL) financing subsidiary. They highlight that Maruti remains their top choice among the investments. <cmsannotation type="cmsannotation" annotationid="Expectations for different automakers" comment="Subhead" text="Expectations for different automakers">Expectations for different automakers</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Maruti Suzuki" comment="Subhead" text="Maruti Suzuki">Maruti Suzuki</cmsannotation> For Maruti Suzuki , analysts recommend a "BUY" with a target price set at ₹13,000, while the current price is at ₹12,700. This is based on a price-to-earnings (P/E) ratio of 29 times the estimated earnings per share (EPS) for September 2025. The target multiple remains the same, but it has been adjusted for the next quarter. The target multiple is based on the five-year average next twelve months (NTM) P/E, as per Bloomberg consensus estimates, to account for a gradual recovery in the demand cycle. The target price has increased due to the forward adjustment in valuation. <cmsannotation type="cmsannotation" annotationid="Mahindra &amp; Mahindra" comment="Subhead" text="Mahindra &amp; Mahindra">Mahindra &amp; Mahindra</cmsannotation> For Mahindra &amp; Mahindra, the recommendation is a "BUY" with a target price of ₹1,905 (current price: ₹1,930). The valuation includes a sum-of-the-parts (SoTP) approach, with a target multiple similar to that of Escorts for the Farm Equipment Sector (FES). In the automotive sector, the target multiple is also unchanged and rolled forward by a quarter. A holding company discount of 10% is applied, similar to Escorts. However, there's a 20% discount compared to peers Maruti Suzuki (MSIL) and Ashok Leyland (AL) due to concerns about automotive market share loss. The target price has slightly decreased due to earnings estimate cuts offsetting the roll-forward of the valuation. <cmsannotation type="cmsannotation" annotationid="Bajaj Auto" comment="Subhead" text="Bajaj Auto">Bajaj Auto</cmsannotation> For Bajaj Auto, the recommendation is "HOLD" with a target price of ₹4,900 (current price: ₹4,600). The valuation is based on a sum-of-the-parts (SoTP) approach using a 16x target multiple for Bajaj Auto's internal combustion engine (ICE) business in September 2025. The Electric Vehicle (EV) business is valued at 2.3x the estimated EV revenue for the same period. The target multiple for EV aligns with global EV companies' market cap/revenue multiples for December 2025. The target price has risen due to higher earnings estimates and a valuation base shift. Additionally, the value of Bajaj's stake in Pierer Bajaj AG, with holdings in PIERER Mobility AG, is included in the assessment. <cmsannotation type="cmsannotation" annotationid="Tata Motors" comment="Subhead" text="Tata Motors">Tata Motors</cmsannotation> Tata Motors gets a "BUY" recommendation with a target price of 770, mirroring the current price. The valuation relies on a sum-of-the-parts (SoTP) method, averaging various valuation methods, such as EV/Sales, EV/EBITDA, EV/EBIT, and P/E ratios. The multiples remain the same, but the valuation base is extended by a quarter. Different valuation multiples are applied to segments like JLR, China JV, Passenger Vehicles (PV), and Commercial Vehicles (CV), considering their estimated sales, EBITDA, EBIT, and EPS for September 2025. These multiples are benchmarked against similar companies, with target multiples discounted by 20% for JLR and China JV, and 50% for CV and PV. The Electric Vehicle (EV) business valuation is based on the last funding round average with a 30% discount, and the target price remains unchanged.

PV sales to shift gears courtesy festive season but 2-wheelers’ struggles to continue

Maruti Suzuki Q4 net profit zooms 43% to ₹2,624 crore beating expectations, to add capacity of 1 million vehicles

<ul><li>India’s largest car maker <keyword id="44883" type="General" weightage="20" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> is looking towards sports utility vehicles (SUV) and electric cars for its next phase of growth. </li><li>The company’s chairman RC Bharghava said shifting consumer preferences and increasing prices of entry-level cars like the Alto K10 are driving people away from these cars. </li><li>While the company expects small cars to remain flat in FY24, it expects utility vehicles to continue to lead growth. </li></ul>India’s largest car maker Maruti Suzuki is looking towards sports utility vehicles (SUV) and electric cars for its next phase of growth as shifting consumer preferences and increasing prices of small cars like the Alto K10 are driving people away from them. The car maker’s shares were trading flat on Thursday morning even as brokerages underlined that margins are expected to recover and demand is expected to be stable going forward. Maruti Suzuki<a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-q4-net-profit-zooms-43-to-2624-crore-beating-expectations-to-add-capacity-of-1-million-vehicles/articleshow/99790060.cms"> reported</a> a 43% YoY rise in its standalone net profit to ₹2,624 crore in Q4. It is also the first auto company to cross the ₹1 lakh crore turnover mark in a financial year. Overall, its FY23 revenue grew 33% to ₹1.18 lakh crore while total domestic volumes increased 20.7%, led by utility vehicles and compact cars. Maruti Suzuki’s shares have gained 2.9% in the last one month, and a meager 1.37% in 2023 so far, underperforming the broader Nifty Auto index which gained nearly 8% and 2%, respectively. Still, post the Q4 performance and forward-looking commentary, an average of brokerage estimates suggests that there is an upside of nearly 22% in the next 12 months, with the average target price being ₹10,355 while the current market price is ₹8,518. <cmsannotation type="cmsannotation" annotationid="Small cars in the slow lane" comment="subhead" text="Small cars in the slow lane">Small cars in the slow lane</cmsannotation> On the other hand, entry-level cars like Alto K10 and S-Presso, which accounted for 14% of the company’s total sales in FY23, grew just 10% during the year. This is an industry-wide trend and not just limited to Maruti Suzuki. Data from SIAM highlighted that while utility vehicles have grown at a rapid pace of nearly 35% in FY23 crossing the 2 million mark during the year, small cars grew at a much slower pace of about 10% in this period. The outlook for the small car segment looks worse for FY24. Maruti Suzuki’s chairman RC Bharghava said in a post-earnings call with analysts that the growth in small cars is expected to remain flat, but added that he’s “not losing sleep over it”. There are two reasons for this, according to Bharghava – a decisive shift in consumer buying preferences, which is reflected in the growth in the utility vehicles segment. The other reason is affordability – small cars have gotten expensive over the years due to reasons like inflation, new regulatory requirements adding costs, among others. For instance, the entry-level Alto K10 starts at ₹4.7 lakh and goes all the way up to ₹7 lakh (approximate on-road prices), making them out of the reach of many people in a country. The average annual salary in India was ₹3.88 lakh per annum in 2021, according to data from the Reserve Bank of India. Bharghava quipped that Indians will need to get richer for the small cars to grow further. His expectation of flat growth in small car sales in FY24 also points at a wider economic slowdown. <cmsannotation type="cmsannotation" annotationid="The next phase of growth – utility vehicles and electric cars" comment="subhead" text="The next phase of growth – utility vehicles and electric cars">The next phase of growth – utility vehicles and electric cars</cmsannotation> Despite this, Maruti Suzuki is setting itself up for the next phase of growth with the addition of 1 million annual manufacturing capacity and a capital expenditure of ₹8,000 crore, which is 27% higher than the capex spends of FY23. Powering the next phase of growth will be utility vehicles and electric cars – Bharghava said that Maruti will launch multiple new utility vehicles in the current financial year as it looks to expand its portfolio to counter the challenge by rivals like Tata Motors and M&amp;M. Utility vehicles accounted for 21% of Maruti Suzuki’s total domestic volumes in FY23, and 24% in Q4. In addition to this, the car maker has announced plans to launch six new electric vehicles by 2030. The company had shown off a concept version in February this year, but the first production model is expected to roll out only in 2025. Maruti Suzuki expects the share of electric vehicles – both pure and hybrid – to go up to 40% by 2030. <cmsannotation type="cmsannotation" annotationid="Analysts expect margin improvements going forward" comment="subhead" text="Analysts expect margin improvements going forward">Analysts expect margin improvements going forward</cmsannotation> A combination of a richer product mix due to faster growth of utility vehicles, cooling commodity prices, cost control and smaller discounts are expected to help Maruti Suzuki post margin improvements. “We believe going forward, strong demand, improving supplies, moderating commodity inflation and moderate discounts will help EBITDA margins to recover to 11.2% in FY24E, versus 9.4% in FY23,” said the analysts at Yes Securities. Analysts at Motilal Oswal echoed similar sentiments while expressing their bullish outlook on the stock, adding that improving supplies thanks to easing semiconductor constraints will aid Maruti Suzuki’s margins. “After two consecutive years of market share loss, we believe that Maruti Suzuki is at the cusp of market share recovery led by new launches. Healthy order book and operating leverage tailwinds will further support strong performance going ahead,” the analysts at JM Financial said. Overall, both analysts and the company itself expect Maruti Suzuki to outperform the industry in FY24, which is expected to register a volume growth of 5-7%. A strong order book of 4.12 lakh units or about 25% of Maruti Suzuki’s FY23 volumes also adds to the confidence. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-q4-net-profit-zooms-43-to-2624-crore-beating-expectations-to-add-capacity-of-1-million-vehicles/articleshow/99790060.cms">Maruti Suzuki Q4 net profit zooms 43% to ₹2,624 crore beating expectations, to add capacity of 1 million vehicles</a> <a href="https://www.businessinsider.in/business/auto/news/bajaj-auto-rides-on-richer-product-mix-in-q4-but-export-and-disruption-concerns-persist/articleshow/99784940.cms">Bajaj Auto rides on richer product mix in Q4, but export and disruption concerns persist</a> <a href="https://www.businessinsider.in/finance/banks/news/indusind-bank-likely-candidate-for-rerating-after-q4-profit-surge-of-46/articleshow/99756150.cms">IndusInd Bank likely candidate for rerating after Q4 profit surge of 46%</a>

Maruti Suzuki to drive into the SUV lane as small cars become dearer

Shares of <keyword id="6354999" type="General" weightage="20" keywordseo="voltas" source="Orion">Voltas</keyword> Ltd fell by nearly 3 per cent on Thursday morning trade after the air conditioning maker reported a decline of 21.6 per cent in its consolidated net profit in the March 2023 quarter. The stock fell by 2.85 per cent to Rs 830.60 on the BSE. At the NSE, it declined 2.82 per cent to Rs 830.50. Voltas Ltd on Wednesday reported a decline of 21.6 per cent in its consolidated net profit at Rs 143.23 crore in the March 2023 quarter, due to provisions made on delayed collection in the international project business. The Tata group firm had posted a consolidated net profit of Rs 182.71 crore in the year-ago period, the company said in a regulatory filing. Revenue from operations of Voltas was up 11.5 per cent to Rs 2,936.76 crore during the period under review, as against Rs 2,633.72 crore a year ago. "Profit before and after taxes were impacted during the current quarter due to provisions made on delayed collection in the international project business," Voltas said in its earnings statement. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-q4-net-profit-zooms-43-to-2624-crore-beating-expectations-to-add-capacity-of-1-million-vehicles/articleshow/99790060.cms">Maruti Suzuki Q4 net profit zooms 43% to ₹2,624 crore beating expectations, to add capacity of 1 million vehicles</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/bajaj-finance-reports-30-jump-in-net-profit-to-3158-crore/articleshow/99792032.cms">NBFC giant Bajaj Finance reports 30% jump in Q4 net profit to ₹3,158 crore; books record new loans in FY23</a>

Voltas shares decline nearly 3% after March quarter earnings announcement

April Auto Sales: Maruti Suzuki flags decline in bookings in April, electric two-wheelers lose momentum due to FAME-II irregularities

Shopping mall operators are expected to earn 7-9 per cent higher revenue during this fiscal, driven by strong retail consumption and improved rentals in their properties, according to <keyword id="6359483" type="General" weightage="80" keywordseo="crisil" source="Orion">CRISIL</keyword>. "Buoyant retail sales and improved rental yields are expected to lift the revenue of mall operators by 7-9 per cent this fiscal. That would be tantamount to around 125 per cent of pre-pandemic, or fiscal 2020, revenue," it said in a statement. The rating agency said that the growth in revenue will be on a high base of FY23. During the last fiscal, CRISIL noted that "return to social normalcy after mobility curbs were lifted led to substantial growth in footfalls and a robust 60 per cent rise in revenue to around 116 per cent of the pre-pandemic level". "Additionally, high occupancy levels, solid profitability backed by cost-optimisation measures and strong balance sheets will keep the credit risk profiles of mall operators healthy this fiscal," the agency said. CRISIL Ratings has analysed 28 malls, which have leasable space of around 18 million square feet area spread across 17 cities, with a total debt of over Rs 8,000 crore. Typically, mall operators generate around 85 per cent of their income from minimum guaranteed rentals as per lease agreements, while the rest is linked to the revenue performance of the tenants. DLF, Brigade Enterprises, Macrotech Developers (Lodha Group), Nexus Select Trust, <keyword id="144998" type="General" weightage="50" keywordseo="phoenix-mills" source="Orion">Phoenix Mills</keyword>, Lulu Group, Pacific India, <keyword id="6436174" type="General" weightage="50" keywordseo="unity-group" source="Orion">Unity Group</keyword> and Ambience Group are operating Grade A shopping malls across major cities. "The exceptional revenue growth last fiscal was on a significantly weak base. In fiscals 2021 and 2022, revenue stood at 55 per cent and 74 per cent of the pre-pandemic level, respectively, as mall operators had waived off rent and allowed flexible payment terms to tenants in a bid to prevent any major decline in occupancy," the statement said. As the impact of Covid-19 waned and occupancy increased, the average per square feet leasing rate jumped 12-14 per cent in fiscal 2023, it added. "Considering the healthy performance of the sector, capex is expected to pick up over the near to medium term. While a sizeable part of it may be funded by equity from global investors, a large debt contracted for new developments will bear watching," the agency said. On the flip side, CRISIL said that the impact of the slowdown in advanced economies, and the manifestation of the lagged effect of repo rate hikes of the past can curtail discretionary spending, including retail sales. "This aspect will, therefore, be monitorable." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-fronx-vs-brezza-comparison-which-car-should-you-buy-under-10-lakh/slidelist/99729841.cms">Maruti Suzuki Fronx vs Brezza – which car should you buy under ₹10 lakh?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/playstation-5-special-summer-offer-discount-for-all-the-ps5-variants/articleshow/99729513.cms">This could be your last chance to grab a PlayStation 5 at a ₹5000 discount in India</a>

Shopping mall operators' revenue to rise 7-9% this fiscal: CRISIL

<ul><li><keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> reported a 0.95% growth in its profit to ₹1371.60 crore between July and September quarter.</li><li>The company’s revenue from operations grew 10% to ₹18,744 crore.</li><li>The company said its material cost increased by 70 bps, nearly a per cent higher compared to the same quarter last year. </li><li>Maruti’s share price shed over 2% post the result announcement.</li></ul>India’s largest carmaker Maruti Suzuki turned profitable after a quarter full of loss. Maruti Suzuki reported a 1% growth in its profit to ₹1,371.60 crore between July and September quarter compared to the same time last year. However, this is much better compared to the last quarter, when it reported a net loss of ₹249.4 crore for the first time in a decade. The company’s revenue from operations grew 10% to ₹18,744 crore. The company’s operating profit increased 71.70% YoY to ₹1167.70 crore. “In Q2, the performance improved on the back of some demand recovery and gradual improvement in supply conditions. Production across the company’s factories and supply chain was progressively ramped up consistent with our policy of maximum safety of the people and following all prescribed protocols to ensure this,” Maruti Suzuki said in a statement. Despite the decent profit growth in the revival quarter, Maruti could not meet street expectations. According to various analysts reports, the company was slated to see a 15% jump in its revenue, leading to profit growth of 14.6% in the quarter under review. <div type="image" title="Maruti sales" msid="78929328" hostid="261"></div> And, that is the reason the share price shed over 2% post the result announcement. However, the company sold 16.2% more cars in the second quarter compared to the same period last year. <div type="image" title="Q2 Maruti share price (1)" msid="78929335" hostid="261"></div> High commodity prices kept the profit growth low The company said its material cost increased by 70 bps, nearly a percent higher compared to the same quarter last year. “Higher sales volume, lower sales promotion expenses, lower operating expenses and cost reduction efforts partially offset by an increase in commodity prices and adverse foreign exchange movement,” the company said. Maruti’s margins expanded 240 bps to 6.6% in the quarter under review SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/byjus-backer-lightspeed-india-invests-in-a-live-tutoring-platform-teachmint/articleshow/78924152.cms" data-type="tilCustomLink">BYJU'S backer Lightspeed India invests in a live tutoring platform Teachmint</a> <a href="https://www.businessinsider.in/india/news/covid-19-vaccine-updates-pfizer-moderna-to-roll-out-covid-19-vaccine-by-december/articleshow/78924143.cms" data-type="tilCustomLink">COVID-19 vaccine updates: Pfizer, Moderna to roll out COVID-19 vaccine by December</a> <a href="https://www.businessinsider.in/stock-market/news/dow-craters-943-points-in-worst-day-since-june-as-virus-spike-spurs-new-lockdowns/articleshow/78921995.cms" data-type="tilCustomLink">Dow craters 943 points in worst day since June as virus spike spurs new lockdowns</a>

Maruti’s revenue rises 10% as car sales increase but high commodity prices dampen profit

<ul><li>Maruti sold 16.2% more cars in the second quarter compared to the same period last year.</li><li>According to various analysts reports, the company is likely to see a 15% jump in its revenue, leading to profit growth of 14.6% in the quarter under review.</li><li>The stock has gained over 25% since the beginning of the second quarter. </li></ul>The automobile sector witnessed the most significant turnaround last quarter after subdued sales in the early six months due to the COVID-19 pandemic — and Maruti has been one of the beneficiaries of this recovery. The company clocked in a remarkable volume rebound from the lows of the first quarter. Analysts believe that this sets the stage for Maruti’s second quarterly earnings due tomorrow. While the COVID-19 pandemic has significantly hurt the auto sector, the Passenger Vehicle (PV) segment was the first to recover on the back of strong demand due to increased choice for personal mobility. Maruti, which is the country’s largest car maker stands testament to that. The company sold 16.2% more cars in the second quarter compared to the same period last year. <div type="image" title="Maruti sales" msid="78908843" hostid="261"></div> According to various analysts reports, the company is slated to see a 15% jump in its revenue, leading to profit growth of 14.6% in the quarter under review. Q2FY21 Earnings Estimates <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages on Maruti Suzuki </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue Growth (expected) </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit Growth (expected) </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emkay </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.30% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28.40% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IIFL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.70% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.90% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11% </td></tr></tbody></table> What worked for Maruti in the last quarter? Anti-dieselization helped Maruti According to the HDFC report, Maruti has the upper hand in the auto industry due to its entry-level portfolio and stronghold in rural areas (40% of sales). Maruti’s higher exposure to gasoline vehicles also benefited the company as the rising <a href="https://www.business-standard.com/article/companies/diesel-car-models-see-downhill-trend-amid-narrowing-price-gap-of-fuels-120062501756_1.html">fuel prices led to anti-dieselization</a>. With parity between petrol and diesel prices, the economic logic for buying diesel cars is now forgone. People will now be more attracted to CNG, and LPG operated cars in a bid to cut down on the fuel costs. Increased preference for personal mobility and cheaper cars The coronavirus fears led to increased preference for personal mobility around the country, leading to an uptick in demand for private vehicles. And, with lower income and job losses, people will look out for cheap cars. The Axis report highlighted that inquiries for cheap cars jumped to 65% from the previous high of 56%. Maruti also enjoys monopoly by holding 80% and 60% market share in the mini and compact PV segment in India. <div type="image" title="Maruti portfolio" msid="78908873" hostid="261"></div> The future holds more for Maruti and its investors While the last quarter turned things around for Maruti, the upcoming festive season is likely to bring more cheer, according to analysts. A sharp uptick in sales is expected, and investors are factoring that in as well. Maruti stock has gained over 25% since the beginning of the second quarter. <div type="image" title="Q2 Maruti share price" msid="78908894" hostid="261"></div> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target Price </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7920 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,160 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7200 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target met </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ShareKhan </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,000 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/byju-raveendran-on-byjus-us-expansion-and-how-white-hat-jr-wont-just-be-about-coding-anymore/articleshow/78904109.cms">'India can provide teachers to the world, just like software engineers,' says Byju Raveendran as he plans to take his $11 billion edtech startup to US shores</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-hero-moto-airtel-tata-motors-icici-bank-adani-gas-marico-titan-dr-reddys-and-others/articleshow/78903221.cms">Top stocks to watch — Hero Moto, Airtel, Tata Motors, ICICI Bank, Adani Gas, Marico, Titan, Dr Reddy’s and others</a> <a href="https://www.businessinsider.in/politics/world/news/trumps-official-campaign-website-briefly-offline-after-hackers-appeared-to-take-control-and-claim-they-had-full-access-to-trump-and-relatives/articleshow/78902375.cms">Trump's official campaign website briefly offline after hackers take control and claim they had 'full access to Trump and relatives'</a>

Demand for cheaper cars and healthy volume growth will boost Maruti Suzuki’s profit in the second quarter

Big boys drive Nifty50’s revenue and profit growth in FY23

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged up in morning trade after a cautious start on Tuesday amid weakness in global markets. </li><li>The morning gains were led by stocks in the energy, metal and IT sectors, while <keyword id="82906" type="General" weightage="20" keywordseo="auto-stocks" source="Orion">auto stocks</keyword> edged slightly lower. </li><li>Both Sensex and Nifty50 were up 0.5% on Tuesday morning, with Sensex at 61,430 and Nifty50 at 18,163 points. </li></ul>India’s benchmark indices Sensex and Nifty50 edged up in morning trade after a cautious start on Tuesday amid weakness in global markets. The morning gains were led by stocks in the energy, metal and IT sectors, while auto stocks edged slightly lower. Both Sensex and Nifty50 were up 0.5% on Tuesday morning, with Sensex at 61,430 and Nifty50 at 18,163 points. <keyword id="6354737" type="General" weightage="20" keywordseo="ongc" source="Orion">ONGC</keyword> emerged as the top gainer after the government slashed windfall tax on crude oil to ₹4,100 per tonne from ₹6,400 earlier. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.80% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.49% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.45% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.69% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.97% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.07% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.93% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UltraTech Cement </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.91% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.66% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.48% </td></tr></tbody></table> Source: NSE, as on May 2, 2023 Earlier last week, both the indices gained 2.3% on the back of healthy earnings of Indian banks. However, weakness in global markets amidst the fall of First Republic Bank in the US will play on investors’ minds this week. Gold and crude oil prices edged up slightly on Tuesday. Gold edged up to ₹59,945 per 10 grams, while Brent crude oil prices inched up to $79.5 per barrel. <cmsannotation type="cmsannotation" annotationid="Mixed global cues" comment="subhead" text="Mixed global cues">Mixed global cues</cmsannotation> Markets in the US ended lower on Monday after First Republic Bank fell and JP Morgan scooped up the former’s deposits. While Dow Jones fell 0.14%, S&amp;P 500 ended 0.04% in the red. The tech-heavy Nasdaq closed 0.11% lower. Markets in Asia were mixed on Tuesday morning, with Shanghai Composite gaining 1.13%, while South Korea’s KOSPI was up 0.76%, followed by Taiwan Weighted which was up 0.3%. However, Nikkei 225 was down 0.06% and Hang Seng was down 0.04%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> UltraTech Cement: The cement maker’s March quarter net profit fell 32% to ₹1,666 crore as compared to ₹2,461 crore in the same quarter last year. Meanwhile, its revenue from operations for the quarter rose 18% to ₹18,662 crore from ₹16,767 crore last year. <keyword id="44883" type="General" weightage="20" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword>: The automaker has sold 1.60 lakh units of passenger vehicles in April as compared to 1.50 lakh during the same period last year. It registered a 7% increase in total wholesalers in April. Tata Motors: The automaker announced a 4% fall in total domestic sales to 68,514 units in April as compared to 71,467 units during the same period last year. Total commercial vehicle sales also dipped 27% to 22,492 units in April from 30,838 units last year. Also, its total wholesales declined 4% to 69,599 units. <keyword id="46013" type="General" weightage="20" keywordseo="kotak-mahindra-bank" source="Orion">Kotak Mahindra Bank</keyword>: The bank reported 26% on year rise in net profit to ₹3,495 crore while its net interest income jumped 35% to ₹6,102 crore. Meanwhile, its non performing assets fell to ₹1,193 crore in Q4 from ₹1,736 crore last year. ONGC, Oil India: The government has slashed windfall tax on crude oil produced in the country to ₹4,100 per tonne from ₹6,400 per tonne effective from Tuesday. Adani Green Energy: The company reported more than four fold rise in March quarter net profit at ₹507 crore as compared to ₹121 crore a year ago. The revenue from operations increased to ₹2,130 crore from ₹1,128 crore a year ago. Earnings today: Tata Steel, Adani Total Gas, Ambuja Cements, Fino Payments Bank, UCO Bank and Varun Beverages among companies to release its quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/godrej-consumer-has-to-double-raymonds-consumer-business-for-it-to-be-earnings-accretive-say-analysts/articleshow/99906464.cms">Godrej Consumer has to double Raymond’s consumer business for it to be earnings accretive, say analysts</a> <a href="https://www.businessinsider.in/stock-market/news/fpis-pump-11631-crore-in-indian-equities-in-april-rupee-appreciation-gives-a-boost/articleshow/99901465.cms">FPIs pump ₹11,631 crore in Indian equities in April, rupee appreciation gives a boost</a> <a href="https://www.businessinsider.in/finance/banks/news/axis-bank-under-pressure-after-reporting-net-loss-in-q4/articleshow/99840323.cms">Axis Bank shares under pressure after Q4 net loss; analysts upbeat on the lender</a>

Sensex, Nifty50 edge up in morning trade led by energy, metal and IT stocks

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged lower in morning trade on Wednesday amid negative global cues and weak earnings in the US. </li><li>Banking and metal stocks declined while IT stocks edged up. </li><li>Both the indices were down 0.1% – while Sensex fell 83 points to 60,051, Nifty50 fell 32 points to 17,738.</li></ul>India’s benchmark indices Sensex and Nifty50 edged lower in morning trade on Wednesday amid negative global cues and weak earnings in the US. Banking and metal stocks declined while IT stocks edged up. Both the indices were down 0.1% in morning trade – while Sensex fell 83 points to 60,051, Nifty50 fell 32 points to 17,738. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.52% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.61% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.43% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.45% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.07% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NTPC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.85% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.76% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.83% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.69% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.71% </td></tr></tbody></table> Source: NSE, as on April 26, 2023 Earlier on Tuesday, markets extended their gains to the fourth consecutive day, edging up by a little over 0.1%. Gold prices edged up to cross the ₹60,000 per 10 grams mark once again, while silver prices softened to below ₹75,000 per kilogram. Crude oil prices remained stable, with Brent crude oil hovering around the $81 per barrel mark on Wednesday morning. <cmsannotation type="cmsannotation" annotationid="US markets tumble on weak earnings" comment="subhead" text="US markets tumble on weak earnings">US markets tumble on weak earnings</cmsannotation> Markets in the US tumbled to post their largest single day decline on Tuesday amid weak earnings reigniting concerns of an economic slowdown. While Dow Jones declined 1%, S&amp;P 500 fell nearly 1.6%. The tech-heavy Nasdaq witnessed a decline of nearly 2%. Causing concerns was a weak earnings forecast by United Parcel Service (UPS), while First Republic Bank’s shares fell nearly 50% amid plunging deposits leading to jitters about the health of the US banking sector. Markets in Asia were also largely negative on Wednesday morning reflecting the concerns in the US. Nikkei 225 fell the most at 0.53%, followed by Taiwan Weighted, KOSPI and Shanghai Composite which were down by 0.2%. On the other hand, the Hang Seng index rose 0.43%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> Bajaj Auto: The automaker’s Q4 standalone net profit fell to ₹1,433 crore, down by nearly 2% YoY. Rising input costs and shrinking exports ate into the two-wheeler maker's volumes as well as bottomline, even as the company’s topline expanded by 12% to ₹8,905 crore during the quarter. Tata Consumer Products: The FMCG player reported a 21% rise in consolidated net profit at ₹289 crore in March quarter while its revenue from operations rose 14% to ₹3,618 crore during the same period. Maruti Suzuki: The largest Indian automobile manufacturer has upgraded its entire range of vehicles to meet the BS6 emission norms including hatchbacks, sedans, SUVs, MPVs and commercial vehicles. HDFC AMC: The mutual fund company’s net profit for Q4 rose 9% to ₹376 crore from ₹343 crore last year while its total income grew by 10% to ₹637 crore. Zomato: The food delivery platform has signed an agreement with Zypp Electric, an EV startup for the delivery of 1 lakh e-scooters by 2024. This association is a part of Zomato’s plan to go completely electric by 2030. Earnings today: Bajaj Finance, Maruti Suzuki, HDFC Life, SBI Life, Union Bank of India, Indus Towers, Voltas, Biocon, L&amp;t Technology Services and Oracle Financial will report their March quarter and FY23 earnings today. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/what-type-of-documents-require-for-the-return-filing-in-fy-2022-23/articleshow/99764857.cms">Your comprehensive document checklist for income tax return filing</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/bajaj-auto-q4-net-profit-falls-2-yoy-to-1433-crore/articleshow/99766398.cms">Bajaj Auto Q4 net profit falls 2% YoY to ₹1,433 crore</a>

Sensex, Nifty50 edge lower in morning trade as banking and metal stocks decline

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged up in morning trade on Monday despite mixed cues in global markets. </li><li>The gains were led by banking and realty stocks, while pharma, IT and media stocks declined. </li><li><keyword id="6484187" type="General" weightage="20" keywordseo="ril" source="Orion">RIL</keyword>, <keyword id="6653" type="General" weightage="80" keywordseo="icici-bank" source="Orion">ICICI Bank</keyword>, <keyword id="44883" type="General" weightage="80" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> and <keyword id="10862" type="General" weightage="80" keywordseo="wipro" source="Orion">Wipro</keyword> are amongst stocks in news today. </li></ul>India’s benchmark indices Sensex and Nifty50 edged up in morning trade on Monday despite mixed cues in global markets. The gains were led by banking and realty stocks, while pharma, IT and media stocks declined. SGX <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>, an early indicator of how the markets may perform, was up 0.35% or 62 points early in the morning today. Both the benchmark indices were up 0.04% in morning trade, with Sensex at 59,656 points and Nifty50 at 17,626 points. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.88% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharma </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.10% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.77% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr. Reddy's Laboratories </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.77% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.38% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.03% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.59% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.94% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.25% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.92% </td></tr></tbody></table> Source: NSE, as on April 24, 2023 Earlier last week, Sensex and Nifty50 closed on a mixed note – while Sensex gained 0.3% last week, NIfty50 closed on a flat note. Gold and crude oil prices continued to cool down. While gold fell below the INR 60,000 per 10 gram level after the Akshay Tritiya buying was over, Brent crude oil fell to $81 per barrel on Monday morning. <cmsannotation type="cmsannotation" annotationid="Global markets mixed" comment="subhead" text="Global markets mixed">Global markets mixed</cmsannotation> Markets globally were mixed on Monday morning. Markets in the US closed in the green on Friday, with Dow Jones gaining 0.07% and the S&amp;P 500 gaining 0.09%. The tech-heavy Nasdaq closed 0.11% higher. On the other hand, markets in Asia opened largely in the red on Monday morning, with Hang Seng declining 0.8%, followed by KOSPI which declined 0.75%. Shanghai Composite was down 0.5%, while Taiwan Weighted was flat. The Nikkei 225 index, on the other hand, gained 0.29%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> Reliance Industries: The Mukesh Ambani led company’s net profit increased 9.9% on year to ₹66,702 crore for FY23 while its revenue stood at ₹8.93 lakh crore, which grew 23.7% on year. Its Q4 net profit was highest ever at 19,299 crore beating analysts expectations. <keyword id="42456" type="General" weightage="20" keywordseo="icici" source="Orion">ICICI</keyword> Bank: The lender’s net profit for March quarter has jumped 30% on year to ₹9,121 crore beating analysts expectations. The bank’s net interest income surged 40.2% on year to ₹17,667 crore. Wipro: The company is considering a buyback of equity shares of the company this week. Maruti Suzuki: The automaker has recalled 7,213 units of its Baleno RS hatchback over a possible defect in the vacuum pump that assists its brake function. Hindustan Zinc: The company reported 11.78% fall in consolidated net profit at ₹2,583 crore for March quarter on higher expenses. Its expenses stood at ₹5,358 crore higher than ₹4,717 crore from a year ago Yes Bank: The lender has reported a huge 45% on year dip in its net profit at ₹202 crore in Q4 FY23. However, on a quarterly basis its profit rose 293% from ₹51 crore in the December quarter. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-q4-net-profit-of-19299-crore-beats-analyst-expectations-driven-by-retail/articleshow/99673940.cms">RIL’s Q4 net profit of ₹19,299 crore beats analyst expectations, driven by retail</a> <a href="https://www.businessinsider.in/business/news/indias-it-sector-likely-to-face-macro-headwinds-until-end-2023-say-analysts/articleshow/99714439.cms">India’s IT sector likely to face macro headwinds until end 2023, say analysts</a>

You Searched For "Maruti revenue" and got 13 results

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Maruti Suzuki Q4 net profit zooms 43% to ₹2,624 crore beating expectations, to add capacity of 1 million vehicles

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April Auto Sales: Maruti Suzuki flags decline in bookings in April, electric two-wheelers lose momentum due to FAME-II irregularities

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Shopping mall operators' revenue to rise 7-9% this fiscal: CRISIL

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Maruti’s revenue rises 10% as car sales increase but high commodity prices dampen profit

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Demand for cheaper cars and healthy volume growth will boost Maruti Suzuki’s profit in the second quarter

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Big boys drive Nifty50’s revenue and profit growth in FY23

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Sensex, Nifty50 edge up in morning trade led by energy, metal and IT stocks

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Sensex, Nifty50 edge lower in morning trade as banking and metal stocks decline

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Sensex, Nifty50 edge up in morning trade led by banking and realty stocks

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