Focus on shares of Reliance Industries, HCL Technologies, Tata Communications, CRISIL, TVS Motor Company

The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a lower open for BSE Sensex and NSE Nifty 50. Nifty futures on the Singapore Stock Exchange traded at 205.50 points , or 1.18%, at 17,201.50, signaling that Dalal Street was heading for a negative start on Friday. Domestic equities rebounded in the previous session after taking inspiration from their global peers. The board-based rally saw buying across different sectors. BSE’s benchmark 30-stock index climbed 874.18 points or 1.53% to close at 57,911.68, while the broader Nifty 50 rallied 256.05 points or 1.49% to settle at 17,392.60.

“Nifty has broken above and is holding well above its crucial 17,350 level, indicating that the bulls are taking matters into their own hands. Now it must continue to hold above these levels, for a bullish move towards 17500 and 17777 as support moves towards the 17250 and 17100 areas. comforts bulls and must hold lower levels for market stability. However, the outcome of the French presidential election, developments in Ukraine, fears of a sharp economic slowdown in China and rising oil prices may keep markets volatile globally,” said Siddhartha Khemka. , Head of Retail Research, Motilal Oswal Financial Services.

Actions in the spotlight on April 22, Friday

HCL technologies: HCL Technologies recorded a 226% growth in its consolidated profit after tax (PAT) to Rs 3,593 crore, against Rs 1,102 crore reported in the corresponding quarter a year ago. Adjusted after-tax profit for the quarter increased 21.3% year-on-year. The Noida-based IT company’s consolidated revenue grew by 15% to Rs 22,597 crore from Rs 19,642 crore reported a year ago.

Tata Communications: Tata Communications reported a 22% growth in its consolidated profit to Rs 365 crore for the quarter ended March 2022. The company had recorded a profit of Rs 299.2 crore in the same period a year ago. Revenue grew by 4.6% to Rs 4,263 crore over the same period, driven by the data services segment, which contributed the most revenue. Operating income fell by 2.19% to Rs 16,724.73 crore in 2021-22 from Rs 17,100 crore a year ago. The board has recommended a dividend of Rs 20.7 per share for the year, due to the strong profitability of the company.

Trusted industries: The market capitalization of RIL is close to touching Rs 19 lakh crore. On BSE, RIL stock hit a new 52-week high at 2,788.80 rupees on Thursday after a brokerage raised the share’s target price, citing a “boost to the hydrogen” which will account for 10% of its earnings by 2030. RIL shares settled at Rs 2,782.15 – a gain of 2.35% from the last arrival. RIL now has a market capitalization of Rs 18.8 lakh crore and is poised to hit the Rs 19 lakh crore mark in the coming days, which will make it the first company to cross the milestone. So far this week, RIL stock has jumped more than 9%, outperforming the benchmark Sensex index.

CRISIS : CRISIL’s profit for the quarter ended March 2022 increased by 45.6% year-on-year to Rs 121.6 crore on strong revenue growth. Operating income for the quarter increased by 20.1% to Rs 595 crore. The board has approved the payment of an interim dividend of Rs 7 per share for the financial year ending March 2022.

TVS Motor Company: TVS Motor Company has announced a £100 million investment in British company Norton Motorcycles. This investment will go towards electrification, advanced technology, world-class vehicles, manufacturing, sustainability and the future of mobility. The announcement, which was made by the company on the sidelines of British Prime Minister Boris Johnson’s visit to India, is expected to create 250-300 direct jobs over the next three years and 500-800 indirect supply chain jobs. , she said in a statement.

Fourth quarter results today: Aditya Birla Money, Hindustan Zinc, Sundram Fasteners and Tata Metaliks, Tejas Networks, MMTC, Wendt (India), Bhakti Gems and Jewellery, Eiko Lifesciences, Jhandewalas Foods, Khaitan Chemicals & Fertilizers, Quest Capital Markets, RS Software India and Sharad Fibers & Yarn Processors will announce its results today (April 22).

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