After opening the day flat, Indian share markets turned negative as the session progressed and ended lower amid fag-end selling.

Benchmark indices fell today as a slide in finance and auto stocks offset the optimism from favorable domestic inflation data and persistent foreign institutional (FII) buying in equities.

At the closing bell, the BSE Sensex stood lower by 413 points (down 0.7%).

Meanwhile, the NSE Nifty closed down by 112 points (down 0.6%).

BPCL and ONGC were among the top gainers today.

Tata Motors and HDFC Bank, on the other hand, were among the top losers today.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

The SGX Nifty was trading at 18,415, up by 91 points, at the time of writing.

Broader markets ended on a positive note with both the BSE Midcap index and the BSE Smallcap index ending 0.1% higher.

Sectoral indices ended on a mixed note with stocks in the power sector, and the IT sector witnessing most of the buying.

On the other hand, stocks from the auto sector and financial sector witnessed selling pressure.

Shares of TVS Motors and DLF hit their 52-week highs.

Asian stock markets ended on a mixed note. The Nikkei ended 0.7% higher, while the Hang Seng ended flat. The Shanghai Composite ended 0.6% lower.

The rupee is trading at 82.2 against the US$.

Gold prices for the latest contract on MCX are trading lower by 0.3% at Rs 60,825 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading lower by 0.8% at Rs 72,819 per kg.

Speaking of stock markets, Tata Motors' results came out last week. The company has turned a corner and has come back into profits for the first time after 4 years.

Little wonder, the street is happy. The stock has done well in recent weeks and looks all set to continue its good run.

The stock's up move suggests that there are more investors who want to buy the stock than ones who want to sell. There are more people positive about the stock than negative.
 

IHCL strengthens presence in NCR

In news from the hotel sector, IHCL (Indian Hotels Company Limited), on Tuesday, announced the signing of a Taj-branded hotel at Indira Gandhi International Airport's Terminal 3 in New Delhi.

With this addition, the Taj brand is now present in the country's largest airports - Delhi, Mumbai and Bengaluru.

This is in line with the Tata Group company's vision to expand its footprint in gateway cities. This will be a significant addition to our portfolio in the National Capital Region (NCR).

Around 400 key hotels will be strategically situated adjacent to the Indira Gandhi International Airport's Terminal 3.

The wide range of facilities will include an all-day dinner, a specialty restaurant, a bar, and a lobby lounge. The hotel will also be equipped with over 6,000 square feet of banqueting space and flexible meeting rooms.

With the addition of this hotel, IHCL will have 15 hotels across Taj, SeleQtions, Vivanta, and Ginger brands across the National Capital Region, including three under development.

The Indian Hotels Company (IHCL) and its subsidiaries, collectively known as Taj Group, is one of Asia's largest and finest group of hotels.

In calendar 2022, shares of the company rose 76% on the back of strong earnings and expansion plans, making it one of the biggest gainers of 2022.

Why Astral share price surged 9% today

Moving on to news from the engineering sector, shares of Astral climbed 9% today after the company posted a strong set of earnings for the fourth quarter.

The top line increased 8% YoY to Rs 15.1 bn, led by strong performance across its business segments.

Its net profit for the March 2023 quarter spiked around 38% YoY to Rs 1.9 bn due to better operational performance.

On the operating front, EBITDA (earnings before interest, tax, depreciation, and amortization) witnessed a remarkable surge in the fourth quarter. It jumped by 42.5% YoY to Rs 3.1 bn, compared to Rs 2.2 bn recorded in the previous financial year.

Easing raw material prices and use of low-cost inventories aided EBITDA margin expansion by 4.9% YoY to 20.5% in Q4.

With the result, the company also announced a dividend of Rs 2.25 per share.
 

Why PVR Inox share price is falling

Moving on to news from the media sector, shares of PVR Inox fell 4% intraday after the multiplex owner reported its first-ever quarterly results post-merger.

The revenue from operations more than doubled, reaching Rs 11.4 bn, compared to Rs 5.4 bn in the same quarter of the previous year.

The company reported a net loss of Rs 3.3 bn for the March 2023 quarter against a loss of Rs 1.1 bn a year back.

The company further announced the closure of around 50 cinema screens within the next six months. These screens either operate at a loss or are situated in malls that have reached the end of their life cycle, with little possibility of rejuvenation.

In response, the company has accounted for an accelerated depreciation charge and written off the Written Down Value (WDV) of these assets in its financial records.

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