Asian shares markets are trading on a mixed note today as investors awaited trade data from China that will provide further signs of the country's economic recovery.

The Nikkei is trading lower by 1% and the Hang Seng index is trading lower by 0.5%. The Shanghai Composite is trading 0.4% higher.

US stocks paused on Monday after a strong rally in the prior session as investors shift focus to a key inflation reading later this week.

The Dow Jones Industrial Average ended 0.2% lower and the tech-heavy Nasdaq Composite ended 0.3% higher.

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

Source: Equitymaster

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

At present, the BSE Sensex is trading higher by 207 points. Meanwhile, the NSE Nifty is trading up by 64 points.

Bajaj Finserv and Tata Motors are among the top gainers today.

SBI and Sun Pharma on the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading 0.6% higher and the BSE Small Cap index is trading higher by 0.5%.

Sectoral indices are trading on a positive note with stocks in the energy sector, metal sector, and capital goods sector witnessing the most buying.

Shares of Cera Sanitary and Bajaj Auto hit their 52-week high today.

The rupee is trading at Rs 81.93 against the US dollar.

In commodity markets, gold prices are trading higher by 150 to Rs 61,077 per 10 grams today.

Meanwhile, silver prices are trading higher by 0.3% at Rs 77,315 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, the Indian share markets have remained quite volatile in recent weeks.

Even a genius mathematician was once a victim of such market volatility. Instead of going with near-term trends and speculative bets on stocks like Infosys and HDFC Bank, it is important to study their long-term financials and valuations carefully.
 

Mahanagar Gas Q4 results

Mahanagar Gas reported a massive jump in its net profit for Q4 where net profit jumped 204% to Rs 2.7 billion (bn) compared to the corresponding quarter last year.

For the March 2023 quarter, the leading natural gas distributor posted a total revenue of Rs 16.1 bn, down 3.6% from Rs 16.7 bn in the corresponding quarter of the financial year 2022.

The company's board has declared a final dividend of Rs 16 per equity share with a face value of Rs 10 each for the financial year 2023.

The final dividend is in addition to the interim dividend of Rs 10 per equity share paid to all the eligible equity shareholders, as declared by the board on 2 February 2023.

The company's operating performance or earnings before interest, taxes, depreciation, and amortization (EBITDA) came in at Rs 3.9 bn, registering a growth of 52.2% YoY from Rs 2.6 bn in the corresponding period of the last year.

For the entire fiscal 2022-23, the public sector undertaking (PSU) reported a net profit of Rs 7.9 bn, which is 32% higher than Rs 6 bn recorded in the financial year 2023.

Earlier this year, Mahanagar Gas reduced the price of compressed natural gas by Rs 8 per Kg and domestic piped natural gas by Rs 5 per standard cubic meter (SCM) in and around Mumbai. The reduced price of CNG at Rs 79 per Kg and domestic PNG at Rs 49 per SCM was effective from midnight of 7 April 2023.

After declaring Q4 results, Mahanagar Gas price share price is rising. This will be a breath of fresh air for investors as last month, its share price was on a downtrend.

Another insolvent airline company?

India's bankruptcy court on May 8 sought a reply from budget carrier SpiceJet on a plea claiming unpaid dues.

The National Company Law Tribunal (NCLT) has issued a notice to SpiceJet on its insolvency plea as it agreed to hear from an operational creditor claiming unpaid dues by the domestic airline.

The operational creditor has moved NCLT claiming unpaid dues and sought initiation of corporate insolvency resolution process (CIRP) proceedings under Section 9 of the Insolvency and Bankruptcy Code (IBC).

The plea was filed last week against SpiceJet by aircraft lessor Aircastle. NCLT will next hear the plea on 17 May 2023.

Following the notice, SpiceJet replied to a query by the media house that in the Aircastle issue, notice was issued in the normal course and there was no adverse ruling against SpiceJet. The court has recognized the fact that parties are under settlement discussions, and they can continue to pursue the same, the official said.

According to the airline, this development in no manner affects its operations or operating fleet. It is confident of resolving the matter without court proceedings, adding that it was in discussions with its senior leadership team for the same.

This comes at a time when the NCLT has already heard peer Go First's plea in which the airline has sought an interim moratorium and bankruptcy protection. The tribunal has reserved its order on a plea filed by the cash-strapped airline.

Aircraft lessors to Go First have rejected the petition arguing that a moratorium will stop third parties from enforcing their contractual rights.

Speaking of Go First, while the bankruptcy took a toll on the overall sentiment of the market there are some stocks that benefit from bankruptcy.

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