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Trillion Dollar Club: There are now 8 cos that generate ₹1 lakh cr quarterly revenues

<keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="267" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> has won a vote of confidence from global rating agencies <keyword id="20043943" type="General" weightage="20" keywordseo="SP" source="keywords">S&amp;P</keyword> and <keyword id="19950093" type="General" weightage="20" keywordseo="Fitch" source="keywords">Fitch</keyword> after its robust earnings in the fiscal year ended March 31, 2024, supported its growth aspirations and kept leverage under check. S&amp;P Global Ratings and Fitch Ratings in separate notes spoke of its <keyword id="19957744" type="General" weightage="20" keywordseo="EBITDA" source="keywords">EBITDA</keyword> (loosely known as pre-tax profit) rising in the current fiscal year and next on rising revenue and past investments. "<keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords">Reliance Industries</keyword> Ltd's (<keyword id="20002939" type="General" weightage="20" keywordseo="ril" source="keywords">RIL</keyword>) strong earnings will keep leverage in check as the company continues to pursue growth ambitions. We expect the company's debt-to-EBITDA ratio to remain commensurate with the rating (BBB+/Stable/--)," S&amp;P said in a note. The oil-to-telecom-and-retail conglomerate's growth aspirations remain intact, it said, adding the company has ramped up investments in the media business in recent months. In 2024, it entered into binding definitive agreements with The Walt Disney Co for a media joint venture in which RIL will invest Rs 11,500 crore. The company subsequently agreed to buy Paramount Global's 13.01 per cent stake in local entertainment network Viacom18 Media Pte Ltd for about Rs 4,300 crore. "These investments are in line with RIL's strategy to diversify and have a strong presence in a few key industries," the rating agency said. Also, the company received government approval in 2024 to develop gas reserves in the KG-D6 block in the Bay Of Bengal. This could increase the company's gas production capacity by 13-17 per cent. RIL's earlier announced investments include a Rs 75,000 crore expansion plan over five years (starting 2022) for the oil-to-chemicals business. "RIL's earnings will benefit from past investments," S&amp;P said. "We project the company's adjusted EBITDA will rise 2-4 per cent in fiscal 2025 (year ending March 31, 2025)," it added. Just as in the past two years, the digital services segment (Reliance Jio Infocomm Ltd) will be the key growth driver, with segment's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) increasing 10-12 per cent in fiscal 2025. Reliance Jio's wireless subscriber base and average revenue per user will gain from the company's investments in its 5G network since late 2022. Meanwhile, earnings in the oil and gas as well as retail segments will reap the rewards of increased production volume and a wider retail store network. "The EBITDA improvement that we expect in fiscal 2025 comes after a 14 per cent increase to Rs 1.6 lakh crore in fiscal 2024," it said. S&amp;P saw RIL's rising earnings providing it greater balance-sheet flexibility for growth. "We expect the combination of robust operating performances and continued spending to keep the company's debt-to-EBITDA ratio at 1.8x-2.0x over the next two years. This compares with our estimate of 1.7x for fiscal 2024 and our downgrade trigger of 2.5x," S&amp;P said. RIL's leverage has some distance from the upper end of the company's internal leverage target. RIL has reiterated its intention to keep its net debt-to-EBITDA ratio (by its own calculations) below 1x. The ratio was 0.65x as of March 31, 2024. Separately, Fitch Ratings said RIL's EBITDA net leverage is likely to remain below 1x in the medium term, supported by increasing cash flows and lower capex intensity, even as the conglomerate's absolute capex and investments remain high in the near term. "We expect RIL's EBITDA to increase by 8 per cent year-on-year in the financial year ending March 2025 (FY25) and 14 per cent in FY26, while capex intensity (capex/revenue) is likely to reduce below 13 per cent by FY26 (FY24: 15.3 per cent). Lower capex intensity would be driven by growing revenue and reduction in capex after FY25," it said. Fitch expected the conglomerate's Cash Flow from Operations (CFO) to be sufficient to fund its capex from FY26, which will limit additional debt funding and keep its EBITDA net leverage below 1.0x in the medium term (FY24: 0.9x, FY23: 1.1x). "Fitch estimates RIL's FY24 EBITDA net leverage at 0.9x, better than our expectation of 1.1x, driven by marginally higher EBITDA and Rs 20,900 crore of equity raised mainly from the sale of a stake in a subsidiary, even as its capex remained high at Rs 1.5 lakh crore (FY23: Rs 1.4 lakh crore)," the rating agency said in a statement. It rates RIL at 'BBB'/Stable, one notch above India's rating (BBB-/Stable). "We expect the EBITDA increase in the near to medium term to be driven by the telecom and retail businesses, supported by contribution from the upstream oil and gas segment and marginal recovery in petrochemical spreads in the oil to chemical (O2C) segment," Fitch said, adding EBITDA from digital services, largely telecom, is likely to benefit from a 10-15 per cent tariff hike and 15-20 million of additional subscribers in FY25 (FY24: 482 million subscribers). Digital services EBITDA rose by 13 per cent in FY24, as Reliance added 42 million subscribers and monthly average revenue per user increased to Rs 182. Monthly user data consumption increased by 24 per cent to 28.7 GB, one of the highest globally. Fitch expected retail EBITDA to increase by 20-25 per cent in FY25 (FY24: 28%) as Reliance continues to expand its physical stores and digital channels. EBITDA would be supported by a 22.2 per cent increase in its registered customer base to 304 million in FY24. Also, O2C segment EBITDA is expected to remain above Rs 60,000 crore in FY25 (FY24: Rs 62,400 crore), as a gradual improvement in petrochemical spreads from FY24 lows is expected as a supply overhang recedes. Upstream oil and gas EBITDA should stay at around Rs 20,000 crore in FY25 (FY24: Rs 20,200 crore), assisted by the expectation of a 10 per cent increase in gas production in the first full year of operation of three gas fields in the KG-D6 block, which should offset the potential reduction in price realisation with lower gas prices in international benchmarks. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms">JNK India IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a>

Reliance gets thumbs-up from S&P, Fitch as strong earnings keep leverage in check

<ul><li>Overall, <keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword>’s gross revenue surged by ₹42,000 crore compared to last year.</li><li>However, its net profit declined by ₹120 crore in the January-March quarter of 2022, on a quarterly basis.</li><li>Reliance Retail now owns a network of 15,000 physical stores, out of which 2,566 were added in the last year.</li></ul>Reliance Retail — a subsidiary of Reliance Industries Limited (<keyword id="6484187" type="General" weightage="20" keywordseo="ril" source="Orion">RIL</keyword>) — reported a consolidated gross revenue of ₹2 lakh crore ($26.3 billion) for the financial year 2022 that ended in March this year. The annual revenue of Reliance Retail is <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-first-indian-company-to-near-100-billion-in-revenue/articleshow/91381614.cms" data-type="tilCustomLink">almost at par </a>with the quarterly revenue posted by Reliance Industries Limited between January and March 2022. Overall, the company’s gross revenue surged by ₹42,000 crore compared to last year. The retail venture’s net profit stood at ₹7,055 crore ($931 million), representing a 28.7% increase from last year. While Reliance Retail’s performance has been quite glossy on an annual basis, the company has failed to keep pace with its quarterly performance. “The headwinds posed by the COVID situation in January were offset by the robust growth in February and March as the business leveraged festive events and early setting of summer season,” the company said in its media release. Its net profit declined by ₹120 crore in the January-March quarter of 2022, on a quarterly basis. The Mukesh Ambani-led company reported a net profit of ₹2,139 crore in Q4 compared to ₹2,239 crore in the previous quarter. Even on a year-on-year basis, Reliance Retail’s net profit declined. <div type="image" title="Reliance Retail hits ₹2 lakh crore in revenue, adds over 2,500 stores in the last one year" msid="91381051" hostid="261"></div> “Despite the ongoing challenges of the pandemic and heightened geo-political uncertainties, Reliance has delivered a robust performance in FY 2021-22. I am pleased to report strong growth in our Digital Services and Retail segments,” Mukesh Ambani, chairperson and managing director of Reliance Industries Limited (RIL), said. <cmsannotation type="cmsannotation" annotationid="Over 2,500 new retail stores added in FY22 alone" comment="subhead" text="Over 2,500 new retail stores added in FY22 alone">Over 2,500 new retail stores added in FY22 alone</cmsannotation> Reliance Retail now owns a network of 15,000 physical stores, out of which 2,566 were added in the last year. The company added 793 stores in the last quarter itself. <div type="image" title="Reliance Retail hits ₹2 lakh crore in revenue, adds over 2,500 stores in the last one year" msid="91381085" hostid="261"></div> The company also <a href="https://www.businessinsider.in/careers/news/reliance-adds-over-2-lakh-new-jobs-in-india-in-fy22-every-3-out-of-4-new-jobs-are-from-retail-alone/articleshow/91381601.cms" data-type="tilCustomLink">created 150,000 new jobs in the last financial year</a> and claims to be one of the biggest employers in India, employing close to 361,000 in total. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/zomatos-deepinder-goyal-donates-stock-option-worth-700-crore-to-zomato-future-foundation/articleshow/91371003.cms" data-type="tilCustomLink">Deepinder Goyal donates his Zomato stock options worth ₹700 crore to offer free education for delivery partners’ children and more</a> <a href="https://www.businessinsider.in/stock-market/news/delhivery-ipo-size-cut-down-by-a-third-due-to-market-volatility-and-lic-ipo-say-analysts/articleshow/91348072.cms">Delhivery IPO size cut down by a third due to market volatility and LIC IPO, say analysts</a> <a href="https://www.businessinsider.in/stock-market/news/zomato-policybazaar-nykaa-and-paytm-shares-witness-sharp-corrections/articleshow/91365062.cms" data-type="tilCustomLink">New-age startups Zomato, PolicyBazaar, Nykaa and Paytm witness sharp corrections, market cap craters by over ₹6,000 crore</a>

Reliance Retail hits ₹2 lakh crore in revenue, adds over 2,500 stores in the last one year

<ul><li><keyword id="7887330" type="General" weightage="20" keywordseo="reliance-retail-revenue" source="Orion">Reliance Retail revenue</keyword> ₹57,714 crore in the third quarter (Q3) of FY21.</li><li>This is ₹20,000 crore higher than the revenue it reported in the same quarter last year.</li><li><keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> spent over $1 billion on acquisitions and strategic partnerships between April to December 2021.</li></ul>Mukesh Ambani-led Reliance Retail — a subsidiary of oil-to-chemical conglomerate <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> (RIL) — has reported its highest ever revenue in the October to December quarter of financial year 2022. The company’s revenue crossed ₹57,714 crore in the third quarter (Q3) of FY21, which is nearly ₹20,000 crore higher than the revenue it reported in the same quarter last year. It has also surpassed Reliance Retail’s January-March quarter (FY20) revenue by ₹10,000 crore. Notably, Reliance Retail had previously cited January-March figures as its <a href="https://www.businessinsider.in/retail/news/reliance-retail-emerges-as-the-fastest-growing-segment-for-mukesh-ambani/articleshow/82331594.cms">highest ever quarterly revenue</a>. The company’s EBITDA (earning before interest, taxes, depreciation, and amortisation) was nearly 24% higher at ₹3,822 crore. <div type="image" title="Reliance Retail earns $1.3 billion more than its best ever quarter" msid="89044974" hostid="261"></div> Overall, the company has reported a revenue of ₹1,41,711 crore in the first three quarters of financial year 2022. It is already nearing FY2021 revenue figure of ₹1.57 lakh crore. “Retail business activity has normalised with strong growth in key consumption baskets on the back of festive season and as lockdowns eased across the country. Our digital services business has delivered broad based, sustainable, and profitable growth through improved customer engagement and subscriber mix,” Mukesh Ambani, chairperson and managing director of Reliance Industries, said. Reliance Retail has witnessed strong growth momentum in fashion and lifestyle business as well as groceries. Festive season, successful winter wear collection and higher footfall in stores contributed to this growth. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Updates </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recorded highest ever revenue and EBITDA (earning before interest, taxes, depreciation, and amortisation) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Digital and new commerce </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ajio recorded the highest ever growth, Zivame reached a milestone of 100 stores, and Urban Ladder grew 2X over last year. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer Electronics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer Electronics stores posted double-digit growth with improvement across all operating parameters. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fashion &amp; Lifestyle </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Highest ever quarterly revenue with 2X growth over last year. </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Reliance Retail in its recent financial statement also mentioned that it has invested over ₹7,600 crore (over $1 billion) in acquisition and strategic partnership between April to December 2021. In the last quarter, the company had made three acquisitions, which included grocery chain Jaisuryas and women’s intimate wear brand Amante. The retail giant also invested $200 million in Google-backed quick commerce platform Dunzo to further enhance JioMart. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/corporates/news/fortune-oil-maker-adani-wilmar-to-open-its-3600-crore-ipo-on-january-27/articleshow/89033308.cms">Fortune oil maker Adani Wilmar to open its ₹3,600 crore IPO on January 27</a> <a href="https://www.businessinsider.in/retail/news/hul-increased-price-of-wheel-detergent-rim-bar-lux-surf-excel-many-times-in-last-three-months/articleshow/89037315.cms">You have been paying more for detergents, soaps over the last three months</a> <a href="https://www.businessinsider.in/investment/news/twitters-long-awaited-hexagonal-profile-pictures-that-give-bragging-rights-to-nft-holders-is-here-but-not-everyone-loves-it/articleshow/89042268.cms">Twitter’s long-awaited hexagonal profile pictures that give bragging rights to NFT HOLDers is here — but not everyone loves it</a>

Reliance Retail earns $1.3 billion more than its best-ever quarter

<ul><li><keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> has reported its “best quarter ever” with its gross revenue crossing ₹58,000 crore mark for the second time this year.</li><li>However, the company’s profit has declined for the second consecutive quarter due to inflationary pressures.</li><li>The company reported a consolidated gross revenue of ₹2 lakh crore in the financial year 2022 that ended in March.</li></ul>Reliance Retail — a subsidiary of Reliance Industries Limited (RIL) — has reported its best quarter ever with its gross revenue crossing ₹58,000 crore (over $7 billion) mark once again in the April to June 2022 quarter. However, its net profit declined for the second time this year too, with high input costs weighing it down. Reliance Retail reported a gross revenue of ₹58,554 crore in the last three months, representing nearly 52% hike from the April-June quarter of last year. Its net profit stood at ₹2,061 crore, representing a hike of 114% from last year. “In the retail business, we continue to focus on enhancing our consumer touch-points and building a stronger value proposition for our customers. Our strong supply chain infrastructure and sourcing efficiency is helping us maintain competitive pricing for daily essentials, thereby insulating consumers from inflationary pressures,” Mukesh Ambani, chairperson and MD of Reliance Industries Limited (RIL) said. Even though its revenue increased by ₹537 crore compared to the previous quarter, its net profit actually declined by ₹78 crore. This is the second sequential fall in net profit – the retail giant reported a similar decline in the March quarter as well, despite marginal increases in revenue. <div type="image" title="Reliance Retail reports a second consecutive quarter of declining profits" msid="93059085" hostid="261" sizebytes="140952"></div> <cmsannotation type="cmsannotation" annotationid="Reliance Retail has managed to navigate the inflation storm so far" comment="subhead" text="Reliance Retail has managed to navigate the inflation storm so far">Reliance Retail has managed to navigate the inflation storm so far</cmsannotation> Despite a challenging macro environment, the marginally higher revenue suggests Reliance Retail has maintained its topline. “Reliance Retail delivered a strong performance with its best-ever quarterly revenues in a macro environment that remained challenging,” the company said in a statement. Even though inflation has been hitting the customers’ demand, discretionary spendings have largely been immune to the negative consumer sentiment. According to a report by ICICI Securities, <a href="https://www.businessinsider.in/retail/news/its-food-not-fashion-where-price-pinches-as-shopping-bags-retailer-coffers-are-swelling/articleshow/92515313.cms">customers’ shopping bags got heavier </a>this year and all retail brands like Reliance Retail, Shoppers Stop, Bata, Pantaloons and Lifestyle are reaping its benefits. “Despite various headwinds, fashion retailers displayed a resilient show with demand picking up pace in the latter part of the second half of FY22. Revenue recovery rate for most apparel and footwear players surpassed pre-Covid levels (100- 105%) from Q3FY22 onwards,” the report said. Reliance Retail has been adding more stores in order to cash in on immunity from inflation. Reliance Retail now owns a network of 15,866 physical stores, out of which 792 were added in the last three months. The company added 2,566 stores in the last fiscal year itself. <div type="image" title="Reliance Retail has managed to navigate the inflation storm so far" msid="93059093" hostid="261" sizebytes="93262"></div> The company also created 1,50,000 new jobs in the last financial year and claims to be one of the biggest employers in India, employing close to 3,61,000 in total. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-itc-infosys-and-other-hot-stocks-on-july-22/articleshow/93041515.cms">Indian markets open in the green – RIL, M&amp;M gain while Nifty IT, Infosys decline</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-prime-day-best-offers-deals-discounts/articleshow/93024348.cms">Amazon Prime Day 2022 – early deals, bank offers, Prime membership and everything else you need to know</a> <a href="https://www.businessinsider.in/business/news/reliance-industries-to-start-fy23-with-strong-earnings-thanks-to-refining-margins/articleshow/93041430.cms">Reliance Industries to start FY23 with strong earnings, thanks to refining margins</a>

Reliance Retail reports a second consecutive quarter of declining profits

Conglomerate <keyword id="10926" type="General" weightage="20" keywordseo="reliance" source="Orion">Reliance</keyword> Industries Ltd (RIL) on Friday reported a rise of 46 per cent growth in its year-on-year consolidated net profit for the quarter ended September 30, 2021. The net profit, on a YoY basis, rose to ₹15,479 crore. In a regulatory filing, the company reported that its consolidated gross revenue for the quarter rose to ₹191,532 crore, higher by 49.2 per cent. Besides, the consolidated EBITDA for the quarter rose by 30 per cent to ₹3 0,283 crore. On a standalone basis, net profit for the quarter was higher by 44.1 per cent year-on-year to ₹9,228 crore. Furthermore, the gross revenue on a standalone basis for the quarter rose by 68.8 per cent to ₹108,750 crore. "As the pandemic retreats, I am pleased that Reliance has posted a strong performance in 2Q FY22. This demonstrates the inherent strengths of our businesses and the robust recovery of the Indian and global economies," Reliance Industries Ltd Chairman and Managing Director Mukesh D. Ambani said. "All our businesses reflect growth over pre-Covid levels. Our operational and financial performance reflects sharp recovery in the retail segment and sustained growth in Oil-to-Chemicals (O2C) and Digital Services business." Ambani said: "Our O2C business benefited from sharp recovery in demand across products and higher transportation fuel margins." "Reliance Retail continues to grow on the back of rapid expansion of both physical stores and digital offerings resulting in healthy growth in revenues and margin expansion. Jio, our digital services business, continues to transform the broadband market in India and set new benchmarks for the industry." He further said that RIL continues to make steady progress in accelerating its foray into new energy and new materials business. "Our partnership approach and the desire to bring India to the forefront of global transition to clean and green transition is underscored by our recent investments in some of the best companies in the world in the solar and green energy space." SEE ALSO <a href="https://www.businessinsider.in/business/telecom/news/reliance-confirms-jiophone-next-will-be-launched-in-time-for-diwali/articleshow/87211099.cms" data-type="tilCustomLink">Reliance confirms JioPhone Next will be launched in time for Diwali</a> <a href="https://www.businessinsider.in/retail/news/reliance-retail-reported-a-revenue-of-45450-crore-in-the-july-to-september-quarter-of-2021/articleshow/87211831.cms" data-type="tilCustomLink">Reliance Retail fails to breach its own bar even as fashion and lifestyle segment reports its highest ever quarterly revenue</a>

Reliance Industries' net profit crosses ₹15,000 crore in September quarter

<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>

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