Sensex Today Live Updates: Sensex jumps 460pts, Nifty at 22,300; Auto, IT, O&G, gain;

Sensex Today Live : The company is slated to release its Q4FY24 financial results on April 18. Amid a backdrop of weak discretionary spending, Infosys is projected to report subdued figures for Q4FY24. While revenues are anticipated to see a sequential drop, the EBIT margin is likely to remain stable due to a series of weak growth. As per the average estimates of seven brokerages, Infosys is expected to report a net profit of ₹6,142 crore in Q4FY24, marking a modest growth of 0.58% from the ₹6,106 crore reported in the December quarter. In terms of Q4 revenue in USD, Infosys is expected to see a 0.38% decline to $4,645 million from $4,663 million on a QoQ basis. In rupee terms, revenue is projected to decrease 0.59% to ₹38,590 crore from ₹38,821 crore sequentially. On the operational front, Infosys’ Earnings before Interest and Taxes (EBIT) for the quarter ending March 2024 is expected to decrease 0.69% to ₹7,906 crore from ₹7,961 crore in the December quarter.

Sensex Today Live : The company is anticipated to post impressive earnings for the quarter ending March 2024, propelled by substantial volume growth, improved realisations, and a higher average selling price (ASP). The Q4 results for Bajaj Auto are set to be announced on April 18. Bajaj Auto’s sales volume in Q4FY24 is projected to have risen by 24.6% to 10,68,576 units, up from 857,788 units in the same period last year. It is forecasted to report a net profit of ₹1,805 crore in Q4, marking a 26% increase from ₹1,432.9 crore in the same quarter last year, according to the average estimates of five brokerages. The company’s revenue for the quarter ending March 2024 is also expected to surge nearly 26% to ₹11,200 crore, up from ₹8,904.7 crore in the corresponding quarter of the previous year.

Sensex Today Live : Capacite Infraprojects today informed the exchanges it has received two orders totaling ₹549 crore from Macrotech Developers and Raymond.

In an exchange filing, the company said it has been awarded the order from Microtech Developers for their luxury residential project in Worli, Mumbai for a total contract value of ₹ 256 Crore (excl. GST), while the project from Raymond Limited (Realty Division) includes construction of the additional building in Thane and scope enhancement of existing building aggregating to ₹ 293 crore.

Sensex Today Live : Among the heavyweight indices across sector, the Auto index had gained the most, followed by the Consumer Durables and Oil & Gas indices. Barring Healthcare, all other sectoral indices were also in the green.

Sensex Today Live : The broader market was outperforming the already higher benchmark indices, with the BSE SmallCap index up 1.24%, and the BSE MidCap index up 0.91%. 

Sensex Today Live : 14 of the 50 stocks on the Nifty 50 were in the red. Nestle India, Apollo Hospital Enterprises, Axis Bank, HCLTech, and Titan, were the top drags, while Bharti Airtel, Power Grid Corp., Mahindra & Mahindra, BPCL, and Tata Steel, were the top gainers. 

Sensex Today Live : Nine of the 30 stocks on the Sensex were in the red, with losses led by Nestle India, Axis Bank, HCLTech, ITC and Titan, while Bharti Airtel, Power Grid Corp., Mahindra & Mahindra, Tata Steel, and Larsen & Toubro, were the top gainers. 

Sensex Today Live : Indian benchmark indices had on Thursday, tracking Asian peers higher as sentiment firmed up there.

At 12 pm, Sensex was up 451.58 points, or 0.62%, at 72,961.66, and Nifty was up 158.50 points, or 0.72%, at 22,306.40.

Sensex Today Live : Bharti Airtel informed the exchanges that Dialog Axiata, Axiata Group Berhad and Bharti Airtel have signed a Definitive Agreement to combine their operations in Sri Lanka.

The company said, under this agreement, Dialog will acquire 100% of the issued shares in Airtel Lanka, in consideration of which Dialog will issue to Bharti Airtel, ordinary voting shares amounting to 10.355% of the total issued shares of Dialog by way of a share swap.

The transaction is subject to the approval of Dialog’s shareholders and is pending the completion of specific conditions outlined in the Share Sale Agreement, including clearance from the Colombo Stock Exchange (CSE) and completion of other applicable legal, corporate and regulatory compliance procedures, the company said in an exchange filing.

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted its approval for the proposed merger, the company added.

Sensex Today Live : On April 15, Jio Financial Services announced its joint venture with US-based BlackRock to expand into wealth management and brokerage services in India. In a stock exchange filing, the financial institution announced a 50:50 joint venture dedicated to wealth management initiatives, which includes establishing a wealth management company and a subsequent brokerage firm in India.

Sensex Today Live : NATCO Pharma today informed the exchanges that a lawsuit has been filed by Fresenius Kabi USA, LLC and Fresenius Kabi Deutschland GmbH (together, Fresenius), against Natco Pharma USA, earlier knows as Dash Pharmaceuticals in the District Court of Delaware relating to the marketing of Dash Pharmaceuticals’ Diazepam Injection prefilled syringe in the US.

The company said in the exchange filing that Fresenius has not yet effectuated service of the complaint which is required to commence the lawsuit. This means that Fresenius has not yet formally delivered the complaint to Natco Pharma USA LLC, which is necessary to officially start the lawsuit.

Natco Pharma intends to defend the matter accordingly, the company said in its exchange filing. Dash Pharmaceuticals LLC had been acquired by Natco Pharma, Inc. and its name had been changed to Natco Pharma USA LLC.

Sensex Today Live : Shilpa Medicare informed the exchanges today that its marketing partner, Amneal Pharmaceuticals had launched non-small cell lung cancer drug PEMRYDI RTU in the US market. The product, a Pemetrexed injection of 10 mg/mL, the first ready-to-use pemetrexed formulation in the US market, has already been granted permanent J-code (J9324) by the U.S. Centers for Medicare & Medicaid Services (CMS).

Pemetrexed Injection is used as a drug, in the treatment of non-small cell lung cancer in combination with other chemotherapy agents. It is also indicated in the treatment of mesothelioma in combination with cisplatin, the company said in its exchange filing.

According to IQVIA, U.S. annual sales for pemetrexed for the 12 months ended February 2024 were $287 million.

Sensex Today Live : Vedanta group-led Hindustan Zinc has become the 3rd largest silver producer globally as per the World Silver Survey 2024 conducted by The Silver Institute, USA, the company said in an exchange filing.

Its Sindesar Khurd mine has emerged as the world’s 2nd largest silver-producing mine moving up from last year’s 4th position, the company added in its exchange filing.

Ashok Leyland, in a press release today said it has signed a memorandum of understanding (MoU) with South Indian Bank for financing dealers under the bank’s dealer finance program.

Under this partnership, the bank will provide competitive dealer finance options to the dealers of Ashok Leyland, the company said.

Sensex Today Live : Talbros Automotive Components today informed the exchanges that it has secured a multi-year contract from a large European OEM valued at approximately ₹1,000 crore. These orders are to be executed over a period of next 8 years commencing from Q4FY25, the company said.

The order, secured by TACL’s joint venture company, Marelli Talbros Chassis Systems Private Limited (MTCS), is centered on the supply of Suspension Arms tailored for both conventional internal combustion engine (ICE) vehicles and new age electric vehicle (EV) platforms for EMEA and NAFTA regions.

The production for the same would be done from the Pune plant of MTCS, with a capex investment of around ₹65 crores spread through FY25. The investments would be done through internal accruals and debt, the company said.

Sensex Today Live : Jyoti Structures informed the exchanges that it has commissioned the 765 KV, Double Circuit, Hexa Bundle Conductor transmission line from Khavda to Bhuj, built at a contract value of ₹382.14 crores, including GST.

Sensex Today Live : Indian benchmark indices were muted but green on Thursday, tracking Asian peers higher as sentiment firmed up there.

At 11 am, Sensex was up 17.98 points, or 0.02%, at 72,961.66, and Nifty was up 44.10 points, or 0.2%, at 22,192.

Sensex Today Live : Marksans Pharma informed the exchanges that the US FDA has concluded its routine current Good Manufacturing Practices (cGMP) inspection at the company’s facility location in Vema, Goa.

The company added that it has received five Form 483 inspectional observation from the the US FDA for its Goa facility. In an exchange filing, the company said, “On conclusion of the inspection, the Company has received 5 inspectional observations in Form 483. There is no data integrity observation. The Company will work closely with the USFDA and is committed to address these observations comprehensively within the stipulated time.”

Sensex Today Live : Bharti Airtel informed the exchanges that Dialog Axiata, Axiata Group Berhad and Bharti Airtel have signed a Definitive Agreement to combine their operations in Sri Lanka.

The company said, under this agreement, Dialog will acquire 100% of the issued shares in Airtel Lanka, in consideration of which Dialog will issue to Bharti Airtel, ordinary voting shares amounting to 10.355% of the total issued shares of Dialog by way of a share swap.

The transaction is subject to the approval of Dialog’s shareholders and is pending the completion of specific conditions outlined in the Share Sale Agreement, including clearance from the Colombo Stock Exchange (CSE) and completion of other applicable legal, corporate and regulatory compliance procedures, the company said in an exchane filing.

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted its approval for the proposed merger, the company added.

Sensex Today Live : Ramkrishna Forgings today informed the exchanges that the US’s largest electric passenger vehicle manufacturer had granted it approval for power train components, marking the beginning of a strategic partnership .

In an exchange filing, the company said, “This approval signifies the company’s position into the electric passenger vehicle segment with a strong emphasis on powertrain components. The approval follows the showcasing of a comprehensive portfolio of cutting-edge solutions, demonstrating company’s expertise and commitment to delivering top-notch products”.

Sensex Today Live : Endurance Technologies informed the exchanges today that it is adding more capacity for aliminium die casting and machining of automotive components after it won orders from a new customers.

In an exchange filing, the company said, “New high-end technology machines shall be installed primarily for production of machined clutch housing and transmission housing for 4 wheelers at its existing manufacturing facilities situated at plot nos. B-1/2 and B-1/3 at Chakan, Dist. Pune.”

The company said it will increase its existing capacity of 584,000 casting parts per month by 8,300 casting parts per month, as its Chakan facility is currently running at 90% capacity utilization.

Sensex Today Live : Talbros Automotive Components today informed the exchanges that it has secured a multi-year contract from a large European OEM valued at approximately ₹1,000 crore. These orders are to be executed over a period of next 8 years commencing from Q4FY25, the company said.

The order, secured by TACL’s joint venture company, Marelli Talbros Chassis Systems Private Limited (MTCS), is centered on the supply of Suspension Arms tailored for both conventional internal combustion engine (ICE) vehicles and new age electric vehicle (EV) platforms for EMEA and NAFTA regions.

The production for the same would be done from the Pune plant of MTCS, with a capex investment of around ₹65 crores spread through FY25. The investments would be done through internal accruals and debt, the company said.

Sensex Today Live : Indian benchmark indices opened in the green on Thursday, shaking off the fading hopes of an early U.S. rate cuts and geopolitical tensions in the Middle East that continued to weigh on investor sentiment.

At 10 am, Sensex was up 129.65 points, or 0.18%, at 73,073.33, and Nifty was up 61.40 points, or 0.28%, at 22,209.30.

Sensex Today Live : Jubilant Pharmova informed the exchanges that it has ceased manufacturing operations of its solid dosage formulation facility at its US subsidiary Jubilant Cadista Pharmaceuticals, in the US. The expected date of cessation will be on June 17, 2024.

The company said Jubilant Cadista will continue the sales and marketing operations for US market. The said facility manufactures tablets and capsules for the US market and has the capacity to serve 1.5 billion doses.

The company added that in order to move the US generics business to profitability, it has decided to change the operating model from in-house manufacturing to outsourced manufacturing by selected USFDA approved CMOs for the US market.

Further, following the status change of Jubilant Generics’ Roorkee facility by USFDA to VAI (voluntary action indicated), the company expects the exports to the US market from the facility to increase in a meaningful and gradual manner.

As of now, the facility was exporting only one product, Risperidone to the US market. JGL is a subsidiary of Jubilant Pharma Ltd, a wholly owned subsidiary of the company, the company said.

Sensex Today Live : Non-life insurer ICICI Lombard announced on Wednesday, April 17, that its net profit for Q4FY24, had increased by 19% YoY to ₹520 crore, compared to a net profit of ₹437 crore in Q4FY23. The company’s gross direct premium income (GDPI) for FY24 was ₹24,776 crore, marking a 17.8% growth from ₹21,025 crore in FY23. This growth rate surpassed the industry’s growth rate of 12.8%. When excluding crop and mass health, the company’s GDPI growth was 17.1%, which was also higher than the industry’s growth rate of 14.8% in FY24. In Q4FY24, the company’s GDPI was ₹6,073 crore, a 22% increase from ₹4,977 crore in Q4FY23. The company’s board of directors has proposed a final dividend of ₹6 per share for FY24, pending approval from shareholders at the upcoming annual general meeting. Including the proposed final dividend, the total dividend for FY24 is ₹11 per share.

Sensex Today Live : On Wednesday, April 17, fintech firm Angel One announced a 27.3% YoY increase in net profit, reaching ₹340 crore for the fourth quarter ending March 31, 2024, compared to a net profit of ₹267 crore in the same quarter last year. The company’s operational revenue…