Asian shares markets are trading higher led by Japanese shares and tech stocks, with traders looking for clues of any breakthrough in negotiations in Washington to avert a US default.

The Nikkei is trading higher by 0.8% and the Hang Seng index is trading 0.4% higher. The Shanghai Composite is up marginally.

The S&P 500 and the Dow ended with modest gains on Monday after manufacturing data raised concerns about a slowing US economy that could help bring down inflation amid ongoing debt ceiling negotiations, while a rise in Meta shares helped lift the Nasdaq.

The Dow Jones Industrial Average ended 0.2% higher and the tech-heavy Nasdaq Composite ended 0.6% higher.

Here's a table showing how US stocks performed on Monday:

Source: Equitymaster

Back home, Indian share markets are trading on a flat note following the trend on SGX Nifty.

At present, the BSE Sensex is trading flat. Meanwhile, the NSE Nifty is trading up by 4 points.

Asian Paints and Bajaj Finance are among the top gainers today.

HDFC Twins and Maruti Suzuki on the other hand are among the top losers today.

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

Broader markets are trading on a positive note. The BSE Mid Cap index is trading 1% higher and the BSE Small Cap index is trading 0.6% higher.

Sectoral indices are trading on a positive note with the exception of metal stocks. Stocks in the realty sector, and IT sector witness buying.

Shares of Hitachi Energy and Hindustan Aeronautics hit their 52-week high today.

The rupee is trading at Rs 82.17 against the US dollar.

In commodity markets, gold prices are trading lower by 105 to Rs 60,922 per 10 grams today.

Meanwhile, silver prices are trading lower by 0.3% at Rs 73,157 per 1 kg.

Now track the biggest movers of the stock market using the stocks to watch today section. This should help you keep updated with the latest developments...

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.

And you can make that out on social media and other platforms as well. The commentary around the stock is quite positive.
 

Ultratech Cement commissions manufacturing facility in Rajasthan

UltraTech Cement, the country's largest cement company, said its wholly owned subsidiary UltraTech Nathdwara Cement has commissioned a 0.8 million tonnes per annum (MTPA) brownfield cement factory at Neem Ka Thana, Rajasthan.

The company along with its subsidiary now has a 17.1 MTPA grey cement capacity in Rajasthan and its total grey cement manufacturing capacity, including that of UNCL, now stands at 129.9 MTPA in India.

Its grey cement production in the domestic market was at 100.1 MT in the financial year 2023, reporting 13.75% growth while its white cement production was 1.5 MT, up 11%. UltraTech Cement's overseas production, mainly grey cement was 4.4 MT in the financial year 2023.

UltraTech has a consolidated capacity of 132.35 MTPA of grey cement. It has 23 integrated manufacturing units, 29 grinding units, one clinkerisation unit, and eight Bulk Packaging Terminals. It is the third largest cement producer in the world, excluding China.

Besides, UltraTech Cement on 28 April 2023, reported a 36.1% decline in its profit at Rs 16,701 m for the fourth quarter ended 31 March 2023, against a profit of Rs 26.140 m posted last year in the same quarter.

Its revenue grew by 18.4% YoY at Rs 186,624 m against Rs 157,670 m posted last year.

In 2023 so far, its share price has rallied 11.2%.

Ashish Kacholia purchases stake in SAT Industries

Ashish Kacholia, a renowned capital markets investor known as the Big Whale of Dalal Street, and Bengal Finance and Investments purchased 4.1% of the equity shares of Aeroflex Industries, a key subsidiary of SAT Industries.

The total cost of the shares purchased was Rs 405.6 m.

The renowned investor has investments in more than 40 stocks and a diverse portfolio that includes stocks in the hotel, education, infra, and manufacturing sectors.

A subsidiary of publicly traded SAT Industries, Aeroflex Industries produces and supplies environmentally friendly metallic flexible flow solution products for both domestic and international markets.

It exports its goods to more than 80 nations, including the USA, Europe, and others, while its parent company, SAT Industries, is a diversified business group involved in a range of commercial activities, including manufacturing, education, and import and export through its group companies. Aeroflex Industries Ltd. is 92.2% owned by SAT Industries.

The company has filed its draft red herring prospectus (DRHP) with the market regulator to raise around Rs 3,500 m through an initial public offering (IPO).

A fresh issue of equity shares up to the value of Rs 1,600 m and an offer-for-sale (OFS) of up to 17.5 m equity shares by the promoters, selling shareholders, and promoter group make up the offer, which has a face value of Rs 2 per equity share.
 

Berger Paints India Q4 results

Berger Paints India posted a consolidated net profit of Rs 1,857 m in the quarter ending March 2023, registering a fall of 15.9% from Rs 2,210 m posted in the same quarter last year. The consolidated revenue in Q4 rose 11.7% to Rs 24,436 m from Rs 21,875 m, YoY.

Earnings before interest, tax, depreciation, and amortization (EBITDA) increased 6.4% to Rs 3,687 m from Rs 3,465 m, YoY, while EBITDA margin contracted to 15.1% from 15.8%, YoY. Berger Paints expects to continue its double-digit growth in the decorative business in the coming quarter.

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