Market trades with modest cuts; Nifty holds 18,000 level

The benchmark indices were trading with small losses in early afternoon trade, dragged by financial services and banks scrips. The Nifty managed to hover a tad above 18,000 mark.

At 12:30 IST, the barometer index, S&P BSE Sensex fell 242.20 points or 0.40% at 60,369.54. The Nifty 50 index shed 44.30 points or 0.25% at 18,009.10.

The S&P BSE Mid-Cap index rose 1%. The S&P BSE Small-Cap index gained 1.48%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, shares 2,376 rose and 913 shares fell. A total of 119 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of market`s expectation of volatility over the near term, rose 2.19% to 18.30. The Nifty 28 April 2022 futures were trading at 18,075.30, at a premium of 66.20 points as compared with the spot at 18,009.10.

The Nifty option chain for 28 April 2022 expiry showed maximum Call OI of 42.92 lakh contracts at the 18,000 strike price. Maximum Put OI of 45.88 lakh contracts was seen at 17,500 strike price.

Hariom Pipe Industries IPO:

The initial public offer (IPO) of Hariom Pipe Industries received bids for 3,74,11,108 shares as against 85,00,000 shares on offer, according to stock exchange data at 12:15 IST on Tuesday (5 April 2022). The issue was subscribed 4.40 times.

The issue opened for bidding on Wednesday (30 March 2022) and it will close on Tuesday (5 April 2022). The price band of the IPO is fixed at Rs 144 - Rs 153 per share. An investor can bid for a minimum of 98 equity shares and in multiples thereof.

The offer comprises fresh issue of 85,00,000 equity shares with Rs 130.10 crore at upper price band of Rs 153 and Rs 122.40 crore at lower price band of Rs 144. The company proposes to utilize the net proceeds from the issue towards funding capital expenditure requirements amounting Rs 50.05 crore, funding the working capital requirements amounting Rs 40 crore and balance towards general corporate purposes.

Buzzing Index:

The Nifty FMCG index rose 1.17% to 37,628.05. The index added 5.57% in five trading sessions.

Marico (up 2.30%), Emami (up 1.76%), United Breweries (UBL) (up 1.64%), ITC (up 1.62%) and Dabur India (up 1.30%) were the top gainers in the FMCG segment.

Stocks in Spotlight:

Bajaj Finance declined 1.22%. The new loans booked during Q4 FY22 stood at 0.63 crore as compared to 0.55 crore in Q4 FY21, recording a growth of 14.54% year-on-year (YoY). New loans booked during FY22 were at 2.47 crore as compared to 1.69 crore in FY21, registering a rise of 46.15% YoY. Customer franchise as of 31 March 2022 stood at 5.76 crore as cornpared to 4.86 crore as of 31 March 2021, climbing 18.51% YoY. The company`s customer franchise increased by 0.22 crore during Q4 FY22. Customer franchise recorded a highest ever increase of 0.9 crore in FY22.

Assets under management (AuM) stood approximately at Rs 1,97,500 crore as of 31 March 2022 as compared to Rs 1,52,947 crore as of 31 March 2021, jumping 29.12% YoY. The core AUM i.e. net of short-term IPO financing receivable of approximately Rs 5,400 crore as of 31 March 2022 was Rs 1,92,100 crore, with a YoY growth of 26%. Core AUM addition in Q4 FY22 was approximately of Rs 10,900 crore.

Federal Bank lost 2.93%. The CASA deposits aggregated to Rs 67,132 crore, recording a growth of 15% over Rs 58,370 crore as of 31 March 2021. CASA ratio stood at 36.94% in Q4 FY2022 as compared to 33.81% in Q4 FY2021 and 36.68% in Q3 FY2022. The CASA ratio stood at 36.94% in FY22 from 33.81% in FY21. The bank`s retail deposits as per internal classification aggregated to Rs 1,71,569 crore, registering a growth of 10% over Rs 1,55,977 crore as of 31 March 2021. Retail deposits share improved to 94% from 90% as of 31 March 2021. Total deposits aggregated to Rs 1,81,712 crore, a growth of 5.3% over Rs 1,72,644 crore as of 31 March 2021.

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