Stock Market Update: The highest increase in 'Ya' shares during the week, know the stock market

Pritam Mandke (Mandke Fincorp)

• Last week, the Nifty and Sensex indices fell by 150.40 points and 609.28 points respectively in the Friday session to close at 22419.95 points and 73730.16 points respectively. The Nifty was down 0.67 percent and the Sensex was down 0.82 percent on Friday; But for the entire week, Nifty gained 272.95 points (1.23 percent), Sensex gained 641.83 points (0.88 percent). Top gainers for the week included Axis Bank (9.8 percent), Division Lab (9.4 percent), Tech Mahindra (7.1 percent), SBI (6.8 percent), Hero MotoCorm (6.6 percent). Also, Kotak Mahindra Bank (-10.3 percent), Bajaj Finance (-5.5 percent), Tata Consumer (-3.1 percent), Indusind Bank (-2.4 percent), HDFC Life (-2.3 percent) were the top losers. (Stock Market Update)

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• An application will be made to the Reserve Bank for conversion of small finance banks into general banks. For this, the microfinance bank must have a net worth of at least 1000 crores. Similarly, this bank should have declared net profit in the last two years. A small finance bank should have a gross non-performing loan (Gross NPA) of less than 3 per cent and a net non-performing loan ratio (Net NPA) of less than 3 per cent. Around a dozen banks in the country, including Ujjivan, Utkarsh, Janasmal Finance Bank, have now cleared the way for conversion to universal banks for small finance banks that fulfill these key conditions, among other things.
• Swiggy, an online grocery and food delivery startup in the country, has been approved by its shareholders for an IPO in the capital market. The IPO is going to be worth a total of 1.2 billion dollars (about 10,414 crores). Of this, $450 million (Rs. 3750 crore) will be a fresh issue. There will also be an 800 million dollar (6664 crore) offer for sale. Swiggy will offer the shares at a price of Rs 350 per share and a company value of $9.6 billion (around Rs 80 thousand crore).
• The country's leading non-banking financial institution (NBFC Bajaj Finance) announced the results of the fourth quarter of last year. The company's net profit increased by 21 percent to 3825 crores compared to the previous quarter. Deposits increased by 35 percent to 60151 crores. AUM) increased by 34 percent to Rs 3.3 lakh crore. Net interest income (NII) increased by 28 percent to Rs 8013 crore Also requested the Reserve Bank to relax the strict rules.
• RBI hits out at Kotak Mahindra Bank. Kotak Bank has been barred by RBI from adding new customers through online medium or through mobile banking app. It was also prohibited to issue new credit cards. The bank clarified that this action will not have any effect on existing customers. This action was taken under Section 35A of the 1949 Act. The RBI noted that customers have to suffer due to persistent problems with robust IT technology and facilities. So Kotak Bank promised to solve this problem soon.
• HUL, the country's largest FMC sector company, reported a 6 percent decline in net profit to Rs 2,406 crore in the fourth quarter of last fiscal. The company's revenue also declined by 0.2 percent to Rs 14,857 crore from Rs 14,893 crore. The company's equity margin also increased to 23.1 percent from 23.3 percent.
• Axis Bank, an important private sector bank in the country, suffered a loss of 5540 crores in the fourth quarter of last year. Net interest income (net interest, income) increased by 11.5 percent to Rs 13,089 crore. The difference between the interest earned on loans to the bank and the interest on deposits distributed by the bank to customers is called net interest income. Loans disbursed by the bank increased by 14 percent, while deposits received by the bank increased by 13 percent. The Gross Non-Performing Loans (Gross NPA) ratio rose to 1.43 percent from 2.02 percent.
• The country's leading IT company 'Tech Mahindra' reported a 30 percent increase in net profit for the fourth quarter of the financial year 2023-24 to Rs 661 crore compared to the third quarter. However, the company's revenue fell from Rs 13101 crore to Rs 12871 crore.
• Insurance regulator of India 'IRDAI' announced 'All in One' insurance extension policy for common citizens. Life, health, accident, property cover of Rs 2 lakh per person can be availed in a single policy for just Rs 1500. In this, property insurance will be provided for Rs 80 out of Rs 820. If the entire family is to be covered under the insurance (family floater), the cost of this insurance will be Rs. 2420. This decision has been taken with a view to make insurance services more cost-effective and reach maximum number of citizens in India.
• Maruti Suzuki Company's fourth quarter net profit for the financial year 2023-24 rose by a whopping 48 percent to Rs 3,878 crore compared to the previous year's quarter. The company's revenue increased by 19 percent to Rs 36,698 crore. The company's EBITA margin also increased to 12.25 percent from 10.44 percent. The company declared its highest ever dividend of Rs 125 per share.
• The country's leading IT company 'HCL Tech' reported a 8.4 percent decline in profit for the quarter of March 2024 to Rs 3,986 crore compared to the previous quarter. 28,499 crores, the company's revenue was about the same as the previous quarter. The company aims for constant currency revenue growth of between 3 to 5 percent in FY2025.
• The US Legislature has announced an aid fund of 95 billion dollars (about Rs. 8 lakh crore) for the military aid of Ukraine, Israel, and Taiwan. Of this, $60.84 billion will go to Ukraine, $26 billion to Israel, and the remaining $8.12 billion to Taiwan.
• Country's largest company Reliance Industries reported a 1.8 percent decline in net profit to Rs 18,951 crore for the March 2024 quarter. The revenue of the company increased by 11.3 percent to 2 lakh 40 thousand crores. The group's subsidiary Jio's profit rose 2.5 percent to Rs 5,583 crore from the previous quarter, while Reliance Retail's profit rose 11.7 percent to Rs 2,698 crore from the year-ago quarter. (Stock Market Update)
• India's foreign exchange reserves declined by $2.83 billion to $640.33 billion in the week ended April 19. In this, gold reserves increased by $1.01 billion to $56.81 billion, while foreign currency assets (FCA) declined by $3.79 billion to $580.86 billion.

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