Divi’s Lab, Bajaj Auto, Tata Consumer Products, Tata Motors, and TCS were the top gainers in the Nifty 50. While Sun Pharma, Maruti Suzuki, Power Grid, Titan, and ONGC were the key laggards in the Nifty 50 on April 12.

Courtesy: BSE

Courtesy: NSE

Courtesy: NSE

Courtesy: NSE

Divi’s Laboratories, Tata Motors, Bajaj Auto, Nestle India, and Tata Consumer were the top gainers in the Nifty 50. While Sun Pharma, Maruti Suzuki, Cipla, Titan, and JSW Steel were the major losers in the Nifty 50 on April 12.

Mahindra & Mahindra received an order from the Punjab Pollution Control Board regarding non-compliance with certain provisions of the Water (Prevention & Control of Pollution) Act, 1974. The company is directed to submit a Bank Guarantee amounting to Rs 50 lakh within seven days. The shares of Mahindra & Mahindra trade marginally lower at Rs 2075 on NSE

Dr Reddy’s Laboratories and Cipla fell 1.8% and 2% respectively after Pharma standards body Indian Pharmacopoeia Commission (IPC) issued an alert over some commonly used medicines as they trigger adverse reactions. According to the list, as seen by Financial Express.com, IPC has flagged Cefuroxime, Dutasteride + Tamsulosin combination, Nimesulide and Beta-blockers (Metoprolol, Propranolol, Atenolol).

Read full report here: Commonly-used painkiller Nimesulide and antibiotic Cefuroxime can lead to serious skin disorders; Govt issues alert

InformationTechnology companies are all set to post their fourth-quarter earnings results starting with TCS Q4 numbers on April 12. In the fourth quarter of FY24, the IT stocks delivered negative returns and the Nifty IT Index was down 2.2 % in Q4. However, some stocks saw positive returns on an individual basis- 

Also Read : Tech companies gear up to kick-start earnings- A look at how IT stocks performed in Q4

Shares of HDFC Life Insurance dips up to 1% on the following news that HDFC Life received a GST order from the Deputy Commissioner State Tax, Dehradun, concerning erstwhile Exide Life Insurance Company Limited. The order pertains to GST compliance for the period from April 1, 2018, to March 31, 2019, with a tax demand, interest, and penalty totaling Rs 40.55 lakh.

Shares of Maharashtra Seamless gained over 4% to intra-day high of Rs 964 on the following news that Maharashtra Seamless clinched a substantial work order from ONGC worth approximately Rs 674 crore. The order entails the provision of casing seamless pipes and will be fulfilled through gradual dispatches spanning 44 weeks.

Shares of Hindustan Aeronautics rose 2.4% to hit a 52-week high of Rs 3,653 as the company received a tender worth Rs 65,000 crore from the Defence Ministry to buy 97 LCA Mark 1A fighter jets. The company touched its 52-week low of Rs 1,370.25 on April 21. It has an upper band set at Rs 3,921.90.

The Sun Pharma stock experienced a 3.46% decline on the NSE, currently trading at ₹1,548.55. The company had notified that the USFDA conducted an inspection at its Dadra facility from December 4, 2023, to December 15, 2023. The authority has classified the inspection status as Official Action Indicated (OAI).

The NSE Nifty 50 trades 65.85 points or 0.29% lower at 22,687.95, while the BSE Sensex dips 220.41 points or 0.29% lower at 74,817.74.

Shares of IRCTC gains up to 4% to hit their new 52-week high of Rs 1065 today. The stock was last seen trading up by 3.69% higher at Rs 1,060.79 on NSE.

Courtesy: NSE

Commenting on TCS Q4 expectation Amit Goel, Co-Founder & Chief Global Strategist, Pace 360 said TCS shares are down by around 7% from its All-time High, Q4 expectations are dictating a modest growth of 2-4% in net profit and around 3-4% in revenue growth. The IT major is facing macro challenges as Accenture has reduced its sales forecast and softness in discretionary spending will be an addition to those challenges.

Goel also added that, IT sector is currently trading at 25x which is 10% higher than the 5-year average of 23x. Amid the rich valuations and ongoing macro challenges for the company, we opine investors to stay away from the stock.

Shares of Multi commodity exchange (MCX) gains up to 5% to hit their new record high level of Rs 4072.60 today. The stock was last seen trading up by 3.50% higher at Rs 4,050 on NSE.

Commenting on the Listing of Bharti Hexacom Prashanth Tapse, Senior VP (Research), Mehta Equities said, Despite 100% OFS, Bharti Hexacom listed above street estimates. Healthy listing is justified after receiving solid response on the last day of its issue biding wherein QIB (48.57x) and NII (10.51x) investors looked more aggressive to grab midcap telecommunication growth story followed by muted retail investors interest who bided only 2.81 times to the allotted quota. Overall it got oversubscribed by 29.87x.

Tapse also added that, Long term investors got a great opportunity to hold mid-cap telecommunications solutions providers and to play long term India’s telecom structural ARPU growth story. Furthermore, Bharti Hexacom’s anchor book showcases top global investors such as Capital Group, Fidelity, Blackrock, and ADIA participating ahead of the opening of the IPO which give all other investors more comforts to block money for long term.

On valuation point of view Tapse add that te at Cmp Rs 821 it is matching the listed peers and even trading on premium to its parent. Hence, considering all the parameters we recommend allotted investors to “HOLD” the Bharti Hexacom Ltd for Long term perspective only while those investors who wish to add on the listing days can wait and watch the space post listing performance and accumulate on dips.

Shares of Jio Financial Services gains up to 2% to hit their new record high level of Rs 378.85 today. The stock was last seen trading up by 1.76% higher at Rs 376.70.

Bharti Hexacom lists at Rs 755, a premium of 32.5% to the issue price on the National Stock Exchange. While on BSE, the shares got listed at Rs 755.20. 

The company had a price band set at Rs 542 to Rs 570 per equity share. Bharti Hexacom IPO collected Rs 4,275 crore from the investors by offering them an entire offer for sale of 75 million shares. 

Read More: Bharti Hexacom sees bumper listing at 32% premium; Read to know more

Divis Lab, Coal India, BPCL, Tata Motors are the top gainers on NSE Nifty 50 index whereas the top laggards include Sun Pharma, Titan Company, JSW Steel, Asian Paints, and Maruti Suzuki India.

Courtesy: NSE

“The Bank Nifty index remained in consolidation mode at elevated levels, struggling to close above the 49,000 mark. Immediate support rests at 48,500, with resistance at 49,000. Any decisive move beyond these levels is expected to trigger trending moves. The index maintains a buy-on-dip stance, with 48,500 acting as a crucial support level to cushion against any downturns,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

The company announced on April 10, 2024 that the signing of a lucrative agreement to provide 5.9 million pieces of Female Condoms (FC) in Brazil. The total value of the FC supplies amounts to US Dollars 2.773 million, equivalent to Rs 23.07 crores. The share dips up to 5% to intra-day low’s of Rs 126.65 on NSE

Commenting on the Technical outlook of Nifty Rupak De, Senior Technical Analyst, LKP Securities, said The Nifty mostly remained sideways today as investors preferred to wait ahead of the US CPI inflation data, which could potentially impact rate cuts by the Fed. The resistance zone is placed at 22,700-22,750, while support is at 22,600. A decisive move above 22,750 might induce a rally towards 23,000 in the short term. Since the market appears to be range-bound, buying on dips and selling on rallies might prove to be a good strategy with proper stop-loss measures.