An across-the-board sell-off enveloped markets in the last hour of trade as an unwavering rise in Covid-19 cases and slower-than-expected pace of vaccination worried investors on Dalal Street. Besides, confidence in the markets took a hit after media reports suggested that banks have approached the Reserve Bank of India (RBI) to grant a 3-month moratorium period courtesy slowdown in the economic activity. After starting gap-up and staying range-bound for the better part of the day, the 30-share Sensex index succumbed to bear hammering and dropped approximately 850 points from day s high to touch a low of 48,149. The index then mildly recovered to settle the day at 48,254 levels, down 465 points or 0.95 per cent.
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Gateway Distriparks surged 4.26% to Rs 179.80 after the company s consolidated net profit soared 318% to Rs 46.44 crore in Q4 FY21 from Rs 11.11 crore in Q4 FY20.
Revenue from operations rose by 17.1% year-on-year (YoY) to Rs 350.25 crore. Profit before tax in Q4 March 2020 stood at Rs 48.62 crore, up 376.20% compared with Rs 10.21 crore reported in Q4 FY20.
The company s consolidated net profit declined 9.1% in to Rs 94.45 crore in the year ended 31 March 2021 compared with Rs 103.91 crore reported in the year ended 31 March 2020. Revenue from operation fell 8.7% to Rs 1179.35 crore in FY21 over FY20.
The company s board has declared first interim dividend for the financial year 2021-22 of Rs 5 per equity share. The record date for the interim dividend is 5 May 2021.
SGX Nifty points to a positive opening
April 27, 2021
News related to Covid spread and Q4 results will drive the market sentiment After a strong beginning for the week, Indian markets are expected open on a cautious note with minor gains on Tuesday. With global cues remaining mixed, shut-down worries in some States due to Covid pandemic will keep then domestic market on the edge, said analysts.
The SGX Nifty at 14,542 (8 am IST) indicates a positive opening for Nifty futures, which on Monday closed at 14,537 points (May futures) and at 14,486 points (April futures). Most markets in the Asia-Pacific region such as Japan, Korea, China, Australia and the Philippines are in the red marginally while Taiwan market is up by about by 0.2 per cent.
Integrated inter-modal logistics company Gateway Distriparks has reported an about four-fold increase in consolidated net profit to Rs 46.60 crore for the March quarter on the back of strong recovery in throughput and realisations. The company had posted a consolidated net profit of Rs 11.69 crore in Q4 FY20, according to a statement. Total income rose 16.1 per cent to Rs 353.11 crore as against Rs 304.18 crore in the March quarter of fiscal 2019-20. The company operates four container freight stations at Navi Mumbai, Chennai, and Krishnapatnam. Two container freight stations are being operated at Kochi and Visakhapatnam through its subsidiaries, Gateway Distriparks (Kerala) Ltd and Gateway East India Pvt Ltd, respectively.