Overnight Digest: Stocks likely to be in focus on May 12
India VIX ended the trading session 2.24 per cent higher at 22.8 level
On Wednesday, the benchmark indices ended in the red. At the time of market closing, Sensex slid 276.46 points or 0.51 per cent to end at the 54,088.39 level while Nifty was down by 72.90 points or 0.45 per cent at 16,167.
On the sectoral front, bank and realty indices gained 0.5 per cent each while IT, auto, FMCG, pharma, power & capital goods indices lost between 0.5-1 per cent each.
In the broader markets, BSE Midcap index declined 0.4 per cent and Smallcap index dropped 2.2 per cent.
Keep a watch on these counters for Thursday's trading session -
Gujarat Gas - The company's share price gained more than 6 per cent on an intraday basis after it clocked a 27.6 per cent YoY growth in consolidated profit at Rs 444.4 crore in Q4FY22 despite higher input cost, led by strong topline and operating income. Its revenue advanced 36.5 per cent to Rs 4,773.4 crore during the same period. The share ended the trading session 6.5 per cent higher at Rs 540 per share.
Torrent Power - The share of this company slipped more than 3 per cent after reporting a consolidated loss of Rs 487.4 crore in Q4FY22 against a profit of Rs 398 crore in Q4FY21 impacted by an additional impairment charge of Rs 1,300 crore with respect to DGEN Mega Power Project. Besides, revenue from operations grew by 21 per cent on a YoY basis to Rs 3,744 crore in Q4FY22 while EBITDA improved by 15 per cent to Rs 1,088 crore during the same quarter.
Infosys - The share hit its ten-month low price of Rs 1,511.55, plunging 3 per cent on an intraday basis. On reporting a weak set of numbers in Q4FY22, the company's stock has slipped 12 per cent in the past one month. BSE Sensex was down by only 9 per cent during the same period. On a YTD basis, the company's share plunged 19 per cent.
Hindalco Industries - Novelis Inc., the leading sustainable aluminium solutions provider and a subsidiary of Hindalco Industries Ltd, announced that it will invest $2.5 billion to build a new low-carbon recycling and rolling plant in Bay Minette, Alabama, USA. The highly-advanced facility will have an initial 600 kilotonnes of finished aluminium goods capacity per year. More than half of the capacity of the new facility will be used to serve the growing demand for aluminium beverage can sheets in North America, which is driven by consumer preference for more sustainable packaging.