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Informist, Tuesday, Apr. 28, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Go Digit General Insurance down 0.5% ahead of Mar qtr results

 

MUMBAI--0945 IST--After opening slightly higher, shares of Go Digit General Insurance fell 0.5% to an intraday low of INR 318.65 on the National Stock Exchange ahead of its March quarter earnings scheduled later in the day. The company's net profit is expected to rise on year, led by growth in gross written premium.

 

According to brokerage Emkay Global Financial Services Ltd., the company's net profit for the reporting quarter is expected to rise nearly 12% on year to INR 1.29 billion. However, sequentially, the brokerage sees the bottom line falling nearly 8%. The sequential fall in the company's bottom line is due to a likely fall in the combined ratio, Emkay said in its report.

 

The company's claims ratio is expected to decline 2.8 percentage points from 72.5% in the year-ago quarter, according to the brokerage. The company's combined ratio is expected to fall 1.9 percentage points on year and 1.3 percentage points on quarter.

 

The company's gross written premium for the reporting quarter is expected at INR 29.37 billion, up nearly 14% on year, driven by growth in the motor and health segments. But the on-year net profit growth is likely to be limited by a slowdown in growth in commercial lines. Sequentially, the company's gross premium income is seen growing 1%, Emkay said. The company's net earned premium is expected at INR 21.97 billion, down over 2% on year, but up nearly 2% on quarter.

 

Meanwhile, Go Digit General Insurance on Mar. 7 received a demand notice of about INR 1.70 billion from the Office of the Commissioner of GST & Central Excise for short payment of goods and service tax for five years, which is higher than the estimated net profit for the March quarter. However, the company said it does not expect any financial impact from the GST demand.

 

For the December quarter, Go Digit General's net profit was INR 1.40 billion and its gross premium written was INR 29.09 billion. At 0936 IST, shares of the company traded at INR 319.80 on the National Stock Exchange, down 0.1% from the previous close. The stock has fallen 3.6% since Jan. 22, when it detailed its December quarter earnings.

 

Of the three brokerage reports on the company available with Informist, two have a 'buy' or equivalent recommendation with an average target price of INR 355. This is around 11% higher than the current market price. One brokerage has a 'sell' recommendation on the insurer with a target price of INR 290. (Divya Moolayattil)

 

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Equity Alert: Indices open lower on high crude oil prices, turn flat later

 

MUMBAI--0937 IST--Benchmark equity indices opened lower as crude oil prices were above $109 per barrel and as uncertainty around the US-Iran peace talks weighed on market sentiment. Soon after opening, indices turned flat. For the past five sessions, Brent crude oil prices have remained above the psychological mark of $100 per barrel. Banking stocks were the major laggards in the session so far. 

 

At 0935 IST, the Nifty 50 was at 24095.40 points, up 2.70 points or nearly flat, and the BSE Sensex was at 77225.77 points, down 77.86 points or 0.1%. 

 

Coal India was the top gaining stock among Nifty 50 constituents. It rose over 4?ter the company's net profit for the March quarter rose 11% on year to INR 108.39 billion. This was way ahead of analysts' consensus estimate of INR 91.22 billion. Adani Enterprises was up nearly 2%. Grasim Industries, Adani Ports and Special Economic Zone, Oil and Natural Gas Corp., Tata Steel, and Bharat Electronics rose around 1?ch. 

 

UltraTech Cement and Eternal were the worst-hit stocks in the Nifty 50, down around 1?ch. Stocks of banks and financial services companies State Bank of India, HDFC Life Insurance Co., Bajaj Finserv, and Axis Bank were down around 1?ch as well.

 

In the Nifty 200, Adani Total Gas was the top gainer, rising over 6%. Shares of Indus Towers rose nearly 3%. Bank of India was the top underperformer in the index, falling nearly 3%. Bank of Baroda and SBI Cards and Payment Services were down over 2?ch as well. 

 

Cohance Lifesciences was the top performing stock in the Nifty 500, rising nearly 18%. City Union Bank was up nearly 5% in the index. The bank's net profit for the March quarter rose nearly 25% on year to INR 3.60 billion,  slightly abover the Street's view of INR 3.47 billion.  (Adhithya Aji)

 

 

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Equity Alert: Asian markets mixed; doubts over US-Iran peace deal weigh

 

MUMBAI--0830 IST--Asian indices were mixed Tuesday as fears of the war between the US and Iran prolonging weighed on market sentiment. US President Donald Trump does not seem open to Iran's proposal to reopen the Strait of Hormuz, as Iran's stance on its nuclear enrichment programme remains the key bone of contention, according to media reports. High Brent crude oil futures at $110 per barrel have further dampened the sentiment.

 

On the macroeconomic front, Bank of Japan is set to announce its interest rate decision Tuesday. The central bank is largely expected to hold rates steady, but market participants will keenly await commentary on the health of the economy. Japan's unemployment rate inched up to 2.7% in March, a tad higher than the 2.6% a month ago. Labour force participation remained mostly unchanged at 63.6% in March compared to 63.5% in February.

 

Moreover, Japan's Finance Minister Satsuki Katayama has said that the recent movement in the currency market is speculative, and that "decisive action" would be taken if necessary, the DowJones Newswires reported. The yen has largely been range-bound for the past few days, though depreciating slightly against the dollar. In Japan's stock market, the benchmark Nikkei 225 fell while the broader market TOPIX advanced.

 

Meanwhile, the FTSE Singapore Strait Times index gained in early trade after falling for four straight sessions. In South Korea, the benchmark KOSPI extended gains. KOSPI heavyweight SK Hynix continued its gains from Monday, and was up over 2%.

 

Following were the levels of major Asian indices at 0818 IST:

 

Index	Level	Change in %
CSI 300 Index	4764.5022	(-)0.14
Hang Seng Index	25788.61	(-)0.53
Nikkei 225 Day	60249.02	(-)0.48
TOPIX FIRST SECTION	3765.31	0.80
KOSPI	6675.96	0.92
FTSE Singapore Strait Times	4908.38	0.32
S&P/ASX 200 INDEX	8723.20	(-)0.49

 

(Ruchira Kagita)

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Equity Alert: Indices to open down on high oil prices; Maruti Suzuki in focus

 

MUMBAI--0825 IST--Benchmark equity indices are likely to opening lower Tuesday as Brent crude oil prices hovered around $100 per barrel. The escalation in crude oil prices since last week and uncertainty over US-Iran peace talks have been worsening market sentiment. Nifty 50 constituents Maruti Suzuki and Eternal are in the spotlight as they will announce their March quarter results later in the day.

 

The April futures contract of the GIFT Nifty suggests a lower opening for the market. At 0818 IST, the GIFT Nifty contract was 0.5% lower at 23987.50, short over 100 points from the 50-stock index's previous close of 24092.70. The June contract of Brent crude was trading higher for the seventh session in a row. At 0820 IST, Brent crude futures were trading over 1% higher at $109.45 a barrel.

 

"A decisive breach below 24000 may trigger profit booking pressure, which could drag the index towards 23800 followed by 23500 levels," Sundar Kewat, technical and derivatives analyst at Ashika Group said. "On the upside, if Nifty 50 surpasses the previous session's high of 24130.70, fresh buying momentum may emerge, potentially driving the index towards the 24500 resistance zone."

 

In the latest development from the West Asia war front, US President Donald Trump's national security team is reviewing an Iranian peace plan to stop the war and open the Strait of Hormuz, while postponing talks on its nuclear programme, Al Jazeera reported.

 

Maruti Suzuki is expected to post a net profit of INR 41.14 billion for the March quarter, up 11% on year. Its revenue is expected to rise 27% on year to INR 514.98 billion. Eternal's consolidated revenue for the quarter is likely to rise over three times on year to INR 179.45 billion. Its net profit is expected to rise nearly fourfold to INR 1.50 billion.

 

In the global equity market, Asian indices showed a mixed performance in early trade. Australia's S&P/ASX 200 INDEX was leading the pack of losers, while South Korea's KOSPI gained the most. Barring the Dow Jones Industrial Average, the other two indices in the US closed higher for the second straight session Monday.  (Arundathi A R)

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Equity Alert: Indices on Wall Street mixed; NASDAQ, S&P 500 hit new highs

 

MUMBAI--0735 IST--The S&P 500 and the NASDAQ Composite notched fresh highs intraday Monday even though gains were relatively modest. The Dow Jones Industrial Average closed with slight losses. Worries over peace talks between the US and Iran coming to a standstill weighed on market sentiment. Shipments through the Strait of Hormuz are still constrained, and Brent Crude oil futures hovered around $108 per barrel. 

 

On Monday, shares of Intel Corp., Nvidia Corp., Alphabet Inc., and US Energy Corp. supported the NASDAQ. Organon & Co. closed 17% higher after Sun Pharmaceutical Industries confirmed it will acquire the US company in a $11.75-billion deal. "The market is just trying to deal with the rally that's been going on and digest the latest all-time highs that we've made on the indices," Robert Pavlik, senior portfolio manager at Dakota Wealth told Reuters. 

 

Many of the magnificent seven stocks will be reporting their earnings for the quarter ended March, and they will be among the major triggers on Wall Street this week. Microsoft, Alphabet, Amazon, and Meta Platforms are set to post their earnings for the quarter gone by on Wednesday while Apple will release its earnings on Thursday. Further, 139 companies in the S&P 500 reported their first-quarter results. Of those, 81% have beaten estimates, Reuters said.

 

In other news, the Federal Open Market Committee's decision on interest rates is due Wednesday and the committee is expected to maintain a status quo. This could be the current chair Jerome Powell's final meeting as he may retire in May. Investors will keep an eye out for the US Federal Reserve's commentary. 

 

Following are the closing levels of US indices on Monday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	49167.79	(-)0.13
NASDAQ Composite	24887.10	0.20
S&P 500	7173.91	0.12

 

(Ruchira Kagita)

 

US$1 = INR 94.47

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Tanima Banerjee

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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