March 31, 2022 05:59 PM
FMCG and media stocks were the best performers, as the Nifty FMCG index gained the most at 1.2 percent and Nifty Media 0.81 percent.
Stocks & Sectors
The benchmark indices ended in the red on the last day of the financial year 2021-22, with the Sensex shedding 115 points to close at 58,568.51, while the Nifty ended 30 points down at 17,468.
Nifty realty and auto also made marginal gains while pharma and IT were the top losers among sectoral indices.
Broader markets had a better day, with the Nifty midcap and smallcap outperforming the benchmarks. The BSE midcap gained 0.29 percent and BSE smallcap 0.31 percent higher.
Hindalco, Divis Labs, Wipro, Reliance and Dr Reddy’s Labs were among the top Nifty losers, down 1.35 to 5 percent.
Among the major gainers, JSW Steel, Britannia, M&M, HUL and Tata Consumer Products were up between 1.5 and 2.1 percent.
Long build-up was seen in Hindustan Aeronautics, Tata Communications and NALCO, while short build-up was witnessed in Handalco, Vodafone Idea and Strides Pharma.
European stocks were mixed on the last trading day of March, with the pan-European Stoxx 600 hovering fractionally below the flatline by mid-morning. On Wall Street, Dow Jones and S&P 500 Futures were flat while Nasdaq Futures were up 0.4 per cent.
Among Asian indices, Hang Seng slipped 1 per cent, Japan’s Nikkei ended 0.7 per cent down, and Australia’s ASX200 eased 0.2 per cent. On the flipside, South Korea’s Kospi added 0.4 per cent.
Here are the top Gainers and Losers:
Axis Bank: CMP: Rs 761.95: The stocks ended in the green after the private lender acquired Citibank’s India consumer business including credit cards, home loans and retail banking.
“The transaction also includes the sale of the consumer business of Citi’s non-banking financial company, Citicorp Finance (India) Limited, comprising the asset-backed financing business, which includes commercial vehicle and construction equipment loans, as well as the personal loans portfolio,” Citigroup said.
The deal, however, excludes Citi’s institutional client businesses in India, the statement said, adding that “Citi remains committed and focused on serving institutional clients in India and globally”.
Max Healthcare: CMP: Rs 347.35: The share shed over 3 percent after private equity KKR’s affiliate Kayak Investment likely sold around 10 percent stake in Max Healthcare Institute through multiple block deals on the National Stock Exchange on March 31. According to media reports, Kayak Investment was likely to sell 969 million units at Rs 340-361 a share through block deals.
Vodafone Idea: CMP: Rs 9.65: The scrip shed 2 percent on March 31. The company’s board has approved the allotment of 338.3 crore equity shares at Rs 13.30 per scrip to three promoters group entities–Euro Pacific Securities, Prime Metals and Oriana Investments – for about Rs 4,500 crore.
The telecom operator had earlier this month announced Rs 14,500 crore fundraising plans, where promoters would inject Rs 4,500 crore.
Hindalco Industries: CMP: Rs 571.30: The share price was down over 4 percent after CLSA downgraded the stocks to “outperform” and cut teh target to Rs 695 from Rs 710 a share. The company unveiled a $8 billion capex plan over the next five years.
With at least a mid-teen IRR expected, execution will be the key. It highlighted headwinds for Novelis which could impact Q4 earnings, it said.
Jaiprakash Associates: CMP: Rs 8.25: The scrip fell over 6 percent after the company defaulted on a payment of Rs 2,897 crore on February 28. The company has Rs 1,544 crore of interest overdues and Rs 1,353 crore to lenders, according to a statement issued to bourses.
Lenders to Jaipraksh Associates, the flagship company in the group, include ICICI Bank, Axis Bank, IDBI Bank, Canara Bank and Bank of Baroda. The default is on obligations such as fund-based working capital, non-fund-based working capital, term loans and FCCB. In total, there are about 32 banks which have exposure to Jaiprakash Associates.
DFM Foods: CMP: Rs 293.90: The scrip jumped over 12 percent after reported that Advent International was looking to delist DFM Foods from stock exchanges. DFM Foods delisting to help Advent undertake bold strategic overhaul.
Hindustan Unilever: CMP: Rs 2,046: The stocks ended in the green on March 31. Sources said that the FMCG major raised prices of cleaning and personal care products. HUL says it is seeing significant inflationary pressures. “Have been able to provide the right price-value equation to the consumer. Remain confident of navigating the inflationary environment,” it said.
Bharti Airtel: CMP: Rs 757: The share price added a percent after the telecom firm along with Tech Mahindra announced a strategic partnership to build and market innovative solutions for India’s digital economy by bringing together their core strengths.
Airtel and Tech Mahindra will co-develop and market 5G use cases in India. Airtel has been spearheading 5G demos and testing in India, while Tech Mahindra has developed world-class 5G applications and platforms. Airtel and Tech Mahindra will set up a joint 5G innovation lab for developing Make in India use cases for the Indian and global markets.
GAIL India: CMP: Rs 155.95: The stocks ended in the green on March 31. The Board of Directors of the company in a meeting on March 31 approved the buyback of the fully paid up equity shares of the company of face value of Rs 10 each not exceeding five crore sixty nine lakh eighty five thousand four hundred and sixty three fully paid up equity shares of face value of Rs 10 each (representing 1.28% of the total number of fully paid-up equity shares in the paid-up share capital of the Company) at a price of Rs 190 a share payable in cash for an aggregate consideration not exceeding Rs 1,082 crore representing 2.50% and 2.22% of the aggregate of the fully paid-up equity share capital and free reserves.
Apollo Tyres: CMP: Rs 191.20: The scrip ended in the green on March 31. Apollo Tyres clarified on CCI investigation and said it was cooperating with the Competition Commission of India (CCI) investigation and provided all the details required by CCI. The company acted and would continue to act in compliance with competition laws, Apollo Tyres said in a BSE filing.