Hello and welcome to N D. TV and B Q. Prime Special segment. Let's talk business. I'm Franci Sharma and we'll get you the top news from the world of business, finance and the economy. Well, market snapped the three days of winning run to end lower in trade while consumer durables advanced the most metals and banking sectors were the top losers. My colleague Hi DAA joins us for more on this from the BQ Prime News Room and he will take us to the market highlights today. Thank you. Actually, markets actually gave up all the early gains and ended lower in trade today. Overall, lift is back below the 18,300 mark and you saw the sex, which fell by nearly a little over 100 and 50 points in day trade. Uh, if you see 50 50 as well, we hit a low of around 18 to 62 in trade and a high of around 18 3 92. So the was almost a little over 100 points. That was seen from the today's highest levels, though if you see the advanced decline ratio that was very much in favour of the Bulls on 50 50 bank lift as well. So cuts of almost 275 points and ended below the 6 43,080 mark. So that's where bank lift was in today's session. Uh, clearly, if you see sectors, it was the metals and the banking pack that was actually putting pressure on the H D F C twins, but also a major drag, uh, for the markets. And there was clear underperformance that did come in from the bank vis a vis the benchmark in deceased broader markets. Pretty much a flattish notice. What we've seen on the bank on the mid cap as well as the small cap index and the breath has remained in favour of the Bulls overall. So there is a lot of stock specific action on the back of the earnings reaction and a lot of news makers. But that's not translating. And there is some bit of consolidation that's happening in the markets, and that is expected to continue with the kind of up moves that we've seen in the recent past. Uh, if you see the gainers, you had pharma d r l Hiroto Titan, as well as a s p I life that were the top gainers whereas pressure building on Adani Enterprise Sports there was some bit of profit booking that did come in after the kind of rally that we've seen over the last couple of trading sessions Tata Motors and as mentioned, the H D F C twins as well. In terms of newsmakers, you had a deep night, a smart search coming in there on the back of the 5000 K plan, announced Mahindra C. I also jumped as the promoter take sale news, and the stock hit a 52 week high up properties also gained the most in almost a week. And this is after bagging the rights for a 3.2 million square feet development project. H d a MC was in focus as well. They got the semi final approval for change and control post the H D F C H D F C bank merger on the back of an earnings. The action You had a Hindalco? Uh, so the chemicals or smart gains sticks and technologies, uh, on the strong growth outlook or smart up move? Biocon saw a good move in the last 17 months after the profit beat estimates similar. It was for Galaxy, where the stocks fell the most in over two years and this was mainly on the back of the profits that actually missed street estimates. And you had a polyp as well That plunged in trade On the back of the decline in profitability and interesting one was the metro brands, which actually recover. But after the biggest drop in over a year after its Q four results, moving on a lot of auto and auto ancillary names that hit a 52 week high in today's day of Trade. So you had the likes of AC, Apolo tyres, TV s voter as well as a super G engineering. So all in all, a lot of sector specific action is what we witnessed. A lot of stock specific action is what we witnessed. But there is consolidation in the markets. It is expiring soon, so there is going to be a high amount of volatility as well. Back to you and the other big story that concerns all of us. Inflation may have eased, but the Reserve Bank of India is on alert. The RBA Governor Shakti Tada today has said that there is no cause for complacency. On the other hand, the governor is optimistic about India's GDP growth, expecting it to cross 7%. Our colleague Jari Kalra joins us with a wrap of all that the RBA governor has said today. India's GDP growth may surprise to the upside in financial or 2023. And now this is according to the R B, A Governor Shakti Tada the R B A governor said this while speaking at the C. I. I s annual session of for 2023 organised in New Delhi. The governor also said that high frequency indicators monitored by the R B I, about 70 of them have shown that economic activity has sustained momentum in the final quarter of F Y 2023. Here's what the governor had to say. Take a listen. It will not be a surprise if the GDP growth of last year comes slightly above 7% but let's stick to 7% for the timing and, uh, the princes, the fourth quarter trends in particular. It initially appeared in the third quarter that there was a pent up demand which was supporting economic activity but all the economic indicators in the Q four of last financial year, they saw that economic activity sustained momentum and in fact, all the fast, high frequency indicators about 70 of them which we monitor in the Bank of India. Almost in all of these high frequency indicators, the momentum was maintained in Q four, so therefore, I will not be surprised. We should not be surprised if the growth is slightly more than 7%. Speaking about inflation, the Reserve Bank governor also said that while inflation is moderated in India, it is no reason for complacency and one must remain alert to challenges that may appear down the horizon, especially in reference to the El Nino effect that could play spoil sport for Indian monsoons. Now the R B A governor also said the RBI is assuming a normal monsoon for India over the next financial year, but inflation is prices could appear down the horizon now. India's CPI currently stands at 4.7% for the month of April, and this was down from 5.7% in March. Overall, the R B outlook for inflation has softened as compared to previous estimations, but the RBA governor emphasised yet again that it is remember it is important to remain alert and watch out for inflation risks. Here's what he said. Take a listen. The situation is extremely fluid, the situation is highly dynamic and I would just like to say that the war against the war on inflation is not over. We have to remain alert. There is no cause for complacency, especially we'll have to see how the El Nino factor, you know what has been anticipated. The El Nino, how it plays out. Speaking about the n P CS decision to pause rate hikes in April, the Reserve Bank of India's governor also said that the N P. CS decision was driven by the consideration that 250 basis points worth of hikes have already been pushed to the system and one should examine how the effect of that plays out. The I B I governor also emphasised that certain surprise decisions taken by the N PC in the past have consequently proven to be the right decisions to be taken. Here's what he had to say about the n PC thinking on policy matters. Take a listen. I think looking back, I can say that we were prudent then when we decided to increase the rates by in a surprise meeting. And we are also prudent now when we have decided to take a pause. So it's a case of prudent then and prudent now that's our assessment. I mean, somebody can disagree with that, but it gives us a lot of satisfaction that, uh, the markets, the industry, the business and even the analysts have endorsed the decision of the Reserve Bank of India. Finally, asked about why the R B I had just not allowed repeat 2000 notes to disappear from circulation on their own, as opposed to taking a decision to withdraw them by September 30th, the Reserve Bank of India's governor said that in the R. B. I s observations, these notes are not commonly used for transactions. They have served their purpose of re monetizing the economy post demonetization in November 2016, and also they can be unintended negative consequences of letting high value currency remain in circulation. Here's what the governor said regarding the decision to withdraw the notes anecdotally through our informal surveys, we found that ₹2000 notes were not being used at all. I mean, it was being used, but not commonly used. That's what we came across and, uh, living, you know, having that kind of a note in circulation. And also this was introduced for a specific primarily for the purpose of putting back, uh, replenishing the ma, you know, replenishing the system with the value of the currency, which got, uh, you know, which whose legal tender status was withdrawn. And that purpose was fulfilled, uh, five years ago and it was not commonly used in transactions. These are reasons which we have stated in our press note. And Dixon Technologies has reported a 4% uptick in revenue at 3065 crew rupees, which surpassed estimates. Margins were at 5.1% and the net profit at ₹80.02 exceeded the estimates. In an interaction with P. Q Prime, the CFO Sarata outlined the company's Capex plans and outlook for financial year 2024. I think so. Operation Fund. I think the good part about, uh this year is that despite this growth of 14% it has not come at the expense of the balance sheet. So we did almost 7 20 crowds of we generated almost 7 20 crowds of cash flow of operations, which are which has really helped us meeting the cap of 4. 50. On that we did in F F 22 23 also we were able to pay down our debt by 2. 75 crews. So today my debt to equity ratio is even got strengthened 2.1 fold. So now for a future apex, of course, we are very well funded. It can be easily funded for internal groups, But even if some larger opportunities comes, we think we can clearly leverage more debt. Uh, and I think so. We we have a very strong balance sheet significant pushing in the balance sheet right now. Uh, so that's also very positive, I think So, which has happened, Uh, in this financial year, an iron own producer, N m DC reported a double digit growth year on year in net profit despite a dip in revenue from operations. The revenue slipped about 14% to ₹5851 but it surpassed street estimates. Margins were largely in line with estimates at 36.95% while net profit jumped €2271 rupees. Net profit was aided by exceptional income of €1237 rupees. The chairman, A. Mukai, shared projections for the upcoming quarter. I'm happy to note that the momentum continues into the Q one and April has been the best ever April. So in terms of volumes, yes, it's been a very satisfactory and, uh uh, very, uh, commendable, uh, past few months in terms of pricing. Of course, there is a pressure. As you know, internationally, the prices have come down very substantially of I don't know, uh, there have been, uh, in the pressure within the the, uh, country. Also, the seed prices really haven't shown too much of a movement. And there has been enough, uh uh, pricing pressure. And I expect that even in Q two, the pricing pressure will continue a little bit because Q two has historically been the, uh, the lowest of all the quarters in town because of Monsoon and other states. That's all we have for you in this edition of Let's Talk Business Do tune in at 5. 30 PM every weekday to get your latest business news. Thanks for watching
