Skip to content
Research Periodic Report Adani Wilmar’s Surge, Wipro’s Leadership Shift, Tata Steel’s Record Milestones,  Titan’s Expansion Highlight Q1 Achievements

Adani Wilmar’s Surge, Wipro’s Leadership Shift, Tata Steel’s Record Milestones,  Titan’s Expansion Highlight Q1 Achievements

Written by - Fisdom Research

April 8, 2024 4 minutes

Opening Bell: 

Gift Nifty is down by 15.5 points in the early morning trade, indicating a negative opening for Indian stock market

Asian markets showed a mixed performance on Monday as investors awaited significant economic data from the region. Japan’s Nikkei 225 saw a rise of 1.01%, and the Topix index increased by 0.77%. In contrast, South Korea’s Kospi dropped by 0.17%, and the Kosdaq decreased by 0.76%. Futures for Hong Kong’s Hang Seng index suggested a positive start.

US stocks ended higher on Friday, buoyed by a robust jobs report that underscored the economy’s resilience and hinted that the Federal Reserve might postpone interest rate cuts. All key sectors of the S&P 500 saw gains, with communication services, industrials, and technology leading the charge. The Dow Jones Industrial Average climbed 307.06 points, or 0.80%, closing at 38,904.04. The S&P 500 added 57.13 points, or 1.11%, finishing at 5,204.34, while the Nasdaq Composite increased by 199.44 points, or 1.24%, to 16,248.52.

Stocks News:

👉 Adani Wilmar experienced robust growth in its edible oils and food segments in the quarter ending March FY24, propelled by expanded retail presence, especially in previously under-served markets. The quarter also saw the company achieving its highest ever volumes, along with an increase in market share.

👉 Wipro announced the resignation of its Chief Executive Officer and Managing Director, Thierry Delaporte, on April 6, as he decided to explore interests outside of the professional sphere. Srinivas Pallia has been named the new CEO and MD of the IT giant, stepping into the role previously held by Delaporte.

👉 Tata Steel reported a 4.5 percent year-on-year increase in India’s crude steel production to 5.38 million metric tons (MT) for the quarter, with deliveries climbing by 5 percent YoY to 5.41 MT, marking the highest quarterly deliveries to date. For FY24, Tata Steel India recorded its highest annual crude steel production of 20.8 MT, a 4 percent YoY increase, thanks to operational optimizations and enhanced production at Neelachal Ispat Nigam, while deliveries rose by 5.6 percent YoY to 19.9 MT.

👉 Titan Company saw a 17 percent revenue increase YoY for the quarter ending March FY24, with a net addition of 86 stores, bringing its retail footprint to 3,035 stores. The jewelry sector led with an 18 percent growth YoY, attributed to both new and repeat customers and strong same-store sales. The watches and wearables segment posted a 6 percent growth from the previous year. The company’s emerging businesses saw a 24 percent YoY increase, and CaratLane enjoyed a 30 percent YoY growth. However, the EyeCare division experienced a slight 1 percent decline YoY during the quarter.

👉 Foreign institutional investors (FIIs) net bought shares worth Rs 1,659.27 crore, while domestic institutional investors (DIIs) sold Rs 3,370.42 crore worth of stocks on April 5, provisional data from the NSE showed.

Domestic and International Events

  • A recent survey by the RBI reveals a significant boost in consumer confidence in India, reaching its highest point since mid-2019. Participants showed a positive outlook on the current economic scenario and future prospects. Additionally, the survey indicated a promising environment for investment, with an increase in manufacturing sector capacity utilization. Consequently, the RBI’s Monetary Policy Committee has maintained the repo rate at 6.5%.
  • In the US, the employment surge in March exceeded expectations, coupled with wage increases, signaling a strong close to the first quarter. This robust job growth, with nonfarm payrolls adding 303,000 positions, might push back the timeline for anticipated Federal Reserve rate cuts. February’s job gains were adjusted slightly down from 275,000 to 270,000.
  • Gold prices reached new heights on Friday, driven by expectations of US interest rate cuts, speculative trading, and central bank acquisitions, maintaining the momentum of gold’s record-breaking rally despite the strong job data from the US in March.
  • Crude oil prices saw a decline of over 1% in early trading in Asia on Monday, following a de-escalation of tensions in the Middle East. Brent crude futures dropped by 1.79% to $89.54 a barrel, and US West Texas Intermediate crude decreased by 1.78% to $85.36 a barrel.
EMERGINGLATEST% 1D
Hang Seng16,724(0.0) %
Shanghai Composite3,069(0.2) %
DEVELOPEDLATEST% 1D
Dow Jones38,9040.8 %
DAX18,175(1.2) %
FTSE 1007,911(0.8) %
Nikkei38,992(2.0) %
Straits Times3,218(0.5) %

Share the article

Get exclusive content and expert advice

Subscribe to fisdom to get regular updates in the finance world delivered to your inbox each month

Other Post

Periodic Report

LIC Sees Profit Rise, NMDC Faces Decline, HUDCO and HBL Power Systems Report Strong Growth

Periodic Report

Cochin Shipyard Hits New High, Glenmark Pharma Soars on Growth Guidance, Ashok Leyland Reaches All-Time High and more.

Periodic Report

NTPC Profit Surge; Torrent Pharma Plans ₹5,000cr Raise; Divi’s Labs Sees Profit Growth; Glenmark Pharma’s Loss Widens

Primary Market

IPO NOTE: AWFIS SPACE SOLUTIONS LIMITED

The Signal

Unlocking Growth: Capital Goods on the Rise

Periodic Report

Bharat Dynamics Hits New High, Vi Surges on UBS Upgrade, Finolex Cables Soars on Q4FY24 Performance and more.

Periodic Report

InterGlobe Aviation and Bikaji Foods Report Robust Q4 Results, HCL Technologies’ Strategic Acquisition, Zee Terminates Merger Agreement

Periodic Report

Garden Reach Shipbuilders surges 19% on robust Q4 earnings, Cochin Shipyard climbs over 16% in a month, Jio Financial rises seeking foreign investment and more.

Periodic Report

Power Grid’s profit Decline, Grasim’s profit Growth, Nykaa’s Surge in profit and Jubilant Foodworks’ Exceptional Gains

Periodic Report

Welspun Enterprises Surges, Suzlon Energy Hits Upper Circuit, BHEL Falls and more.

Periodic Report

Sun Pharma Projects 22% Q4 Earnings Rise; PI Industries’ Profit Up 31.7%; BHEL Net Profit Up 25.6%; Hitachi Energy India Surges 123.82%

Periodic Report

Delhivery Faces fall on Q4 Losses, Rail Vikas Nigam Rises 15% with South Eastern Railway Order, Hindustan Zinc Sees 20% Surge and more.

Related Articles

Download one of India's best wealth management apps

Join more than one million investors and take control of your wealth

Download app