News Shots

Apollo Tyres  reported a 60.5 percent year-on-year decline in consolidated profit at Rs 113.5 crore in Q4FY22 dented by higher input cost and lower other income. Revenue grew by 11 percent to Rs 5,578.3 crore compared to year-ago period.

Siemens reported a 2.6 percent year-on-year growth in consolidated profit at Rs 340 crore in quarter ended March 2022 with EBITDA rising 6.1 percent to Rs 484.8 crore and revenue growing 13.5 percent to Rs 3,954.7 crore compared to year-ago period. Higher input cost, finance cost, and other expenses hit profitability. said the board approved to buyback shares worth up to Rs 75 crore of the company, at a price of Rs 1,150 per share.

Ujjivan Small Finance Bank reported a 7 percent year-on-year decline in profit at Rs 127 crore in quarter ended March 2022 dented by higher provisions. Net interest income grew by 48 percent to Rs 544 crore and pre-provision operating profit increased by 40 percent to Rs 217 crore compared to year-ago period.

Larsen & Toubro reported a 10 percent year-on-year growth in profit at Rs 3,621 crore in the quarter ended March 2022, with revenue rising 10 percent to Rs 52,851 crore and EBITDA climbing 2.1 percent to Rs 6,520.5 crore compared to year-ago period. Order inflow grew by 46 percent YoY to Rs 73,941 crore in Q4FY22.

Tata Motors posted a loss of Rs 1,032 crore in Q4FY22, which narrowed from loss of Rs 7,605 crore in same period last year. Revenue during the quarter declined by 11.5 percent to Rs 78,439 crore YoY, impacted by subsidiary Jaguar Land Rover, whose revenues in Q4 quarter fell 27.1 percent year-on-year to 4.8 billion pound sterling amid semi-conductors shortage, and disruption in the European and China business.

What to expect? 

NIFTY opened with a gap-down at 16,038 and fell heavily. There were failed recovery attempts and NIFTY fell below 15,800. The index closed at 15,808, down by 359 points or 2.22%.

BANK NIFTY opened with a gap-down at 34,329 and it was a proper down-trending day. 33,900 was broken and BNF fell further. The index closed at 33,532, down by 1161 points or 3.35%.

Metals fell by 3.7%.

The US markets and the European markets closed in the red.

The Asian markets are trading higher. The U.S. Futures and the European futures are trading in the green.

SGX NIFTY is trading at 15,985 indicating a gap-up opening. 

NIFTY has supports at 15,740, 15,670 and 15,600. We can expect resistances at 15,860, 15,920 and 16,000.

BANK NIFTY has supports at 33,300, 33,000 and 32,900. Resistances are at 33,600, 33,900 and 34,000.

INDIA VIX is at 24.3.

Foreign Institutional Investors net sold shares worth Rs 5,300 crores. Domestic Institutional Investors net bought shares worth Rs 5,000 crores. 

Our markets could not make a recovery and we are almost near the low created during the initial days of Ukraine war. We had an unsatisfactory US inflation data and a fear of India CPI.

Our Consumer Price Inflation came out at 7.79%, higher than the expected 7.5%. Let us see how the markets react to the data.

Finland Parliament has voted a yes to the NATO entry. Kremlin responded by saying that it is a threat to Russia.

SBI will announce quarterly earnings today and as you know, volatility accompanies SBI results always.

I will be watching 15,670 on the downside and 15,900 on the upside. If it is a huge gap-up, you can watch 16,000. The gap is huge nowadays without any continuity as a result of high US VIX as this makes US markets volatile.

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