Vedanta is up 4% with record volume, Avenue Supermarts rises on revenue surge, Dabur is down on revenue growth, and more.

Written by - Fisdom Research

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April 4, 2024 3 minutes

Indian markets:

The domestic market witnessed volatility during the session but managed to end higher. Meanwhile, the Sensex, the Nifty 50 and the BSE Midcap indices hit their fresh all-time highs during the session.
Indian stock market benchmarks, Sensex and Nifty 50, rebounded on Thursday, April 4, ending a two-day losing streak ahead of the RBI’s monetary policy decision.
RBI Governor Shaktikanta Das is set to announce the Monetary Policy Committee’s decision on Friday, April 5.
Notable sector movements included gains of 0.5-1 percent in banking, power, and information technology, while the PSU bank and oil & gas indices saw declines of 0.7-1.6 percent.
The BSE midcap index closed unchanged, while the smallcap index rose by 0.5 percent.

Asia-Pacific markets rebounded after a previous sell-off, with investors analyzing remarks from U.S. Federal Reserve Chairman Jerome Powell.
In Asia, attention turned to March service sector activity in India and retail sales figures from Hong Kong.
Markets in Hong Kong, mainland China, and Taiwan were closed for a public holiday.
South Korea’s Kospi surged 1.29% to reach 2,742, leading gains in the region, while the small-cap Kosdaq increased by 0.33% to 882.9.
Japan’s Nikkei 225 rose by 0.81%, briefly crossing the 40,000 mark before closing at 39,773.14. The broader Topix index climbed 0.94% to finish at 2,732.
In Australia, the S&P/ASX 200 advanced by 0.45%, closing at 7,817.3, following two consecutive days of losses.
European markets showed slight gains on Thursday as investors sought to build momentum after a tentative start to the new trading quarter.

Dabur India’s stock took a hit, dropping by more than 4 percent following the company’s announcement of mid-single digit revenue growth in the January-March quarter. The company anticipated strong growth in its India business and home and personal care segment, projecting high-single digit expansion in its Q4 update.
Vedanta witnessed a 4 percent surge in its stock price, driven by achieving its highest-ever annual volume across key businesses. Notably, in Q4FY24, Vedanta’s aluminium business experienced an 18 percent increase in volumes at the Lanjigarh unit compared to the previous year, with a spotlight on the unit’s expanded refining capacity to 3.5 MTPA.
Avenue Supermarts witnessed a remarkable 4 percent surge in its stock value after reporting a 20 percent increase in standalone revenue for the March quarter, reaching Rs 12,393 crore in FY24’s final quarter.
GM Breweries saw a significant drop of over 3 percent in its shares, attributed to a sharp decline in its EBITDA margin for the fourth quarter of FY24. The company’s operating margin in the January-March quarter contracted from 20.1 percent to 15.8 percent compared to the year-ago period, primarily due to increased expenses related to inventory changes.

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