Sensex traded rangebound on May 11.
Stock Market Today: Sensex closed at 61,904.52, down 36 points, while the Nifty ended the day at 18,297, down 18 points. Key indices the Sensex and the Nifty ended flat with negative bias on May 11 as gains in shares of Hindustan Unilever, Asian Paints and ICICI Bank were offset by losses in those of Larsen & Toubro and Reliance Industries. Global cues were mixed after the government data showed on May 10 that the US consumer price index (CPI) rose at a slower pace at 4.9 per cent in April year-on-year against a 5 per cent increase in March. Market participants and analysts expect the Fed to take a pause on rate hikes.
Top gainers, losers in trade today: Asian Paints, HUL, Dr Reddy’s, L&T –
About 2,034 stocks advanced on May 11th, while 1,446 stocks declined and 152 stocks remained unchanged. Also, about 140 stocks touched a new 52-week high, and 24 stocks struck a fresh 1-year low. Markets ended broadly flat on Thursday, which is also the weekly expiry day. Stocks like Asian Paint, Dr Reddy’s Lab, ITC, L&T, and HUL were among the top stocks that moved the most in the trade. Indian markets performed range-bound on Thursday, a weekly expiry day and closed on a broadly flat note. Sensex ended at 61,904.52 lower by 35.68 points or 0.06%, while Nifty 50 finished at 18,297 below 18.10 points or 0.1%. About 2,034 stocks advanced on May 11th, while 1,446 stocks declined and 152 stocks remained unchanged. Also, about 140 stocks touched a new 52-week high, and 24 stocks struck a fresh 1-year low.
Top gainers: Asian Paint (+3.22%), Hindustan Unilever (+2.76%), NTPC (+1.30%), IndusInd Bank (+1.26%), and Ultratech Cement (+1.24%). Top losers: L&T (-5.3%), ITC (-1.19%), Bharti Airtel (-0.9%), Reliance Industries (-0.72%), and Tata Steel (-0.6%).
Top gainers: Adani Enterprises (+5.07%), Asian Paint (+3.34%), Hindustan Unilever (+2.67%), Adani Ports (+2.46%), and NTPC (+1.27%). Top losers: Dr Reddy’s Lab (-6.93%), L&T (-5.09%), Hindalco (-3.49%), Divis Lab (-3.19%), and JSW Steel (-1.97%).
Asian Paints Q4 result: Net profit up 45% to ₹1,234 crore, dividend declared.
The consolidated revenue from operations rose by 11.33 per cent to ₹8,787.34 crore The board recommended payment of the final dividend of ₹21.25 per equity share
Asian Paints on Thursday reported a rise of 45.12 per cent in consolidated net profit of ₹1,234.14 crore for the quarter ended March 2023. This is against a net profit of ₹850.42 crore in the corresponding quarter last fiscal. The consolidated revenue from operations rose by 11.33 per cent to ₹8,787.34 crore, as compared to ₹7,892.67 crore in the year-ago period, said Asian Paints in its regulatory filing.
The board recommended payment of the final dividend of ₹21.25 per equity share for the financial year FY23, subject to approval of the shareholders. The consolidated net sales for the March quarter increased by 10.9% to ₹ 8,750.8 crore from ₹ 7,889.9 crore. Asian Paints PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share in profit of associates) increased by 29.2 per cent to ₹1,864.8 crores from ₹ 1,443.3 crore.
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