Benchmarks trade with small gains

Equity indices traded with small gains amid a bout of volatility in morning trade. The Nifty traded above the crucial 15,300 mark. Metal and IT stocks were in demand while pharma and realty shares corrected.

At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 47.78 points or 0.09% at 51,065.53. The Nifty 50 index was up 19.80 points or 0.13% at 15,321.80.

In broader market, the S&P BSE Mid-Cap index was up 0.22% while the S&P BSE Small-Cap index was up 0.4%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1624 shares rose and 1087 shares fell. A total of 138 shares were unchanged.

Trading was volatile as traders roll over positions in the F&O segment from the near month May series to June series. The May 2021 F&O contracts will expire today, 27 May 2021.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 168,196,978 with 3,494,595 global deaths.

India reported 24,19,907 active cases of COVID-19 infection and 315,235 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. In last 24 hours, India recorded 2.1 lakh new cases and registered 3,847 deaths.

Buzzing Index:

The Nifty IT index rose 1.46% to 27,249.10. The index has added 5.23% in five days.

Mindtree (up 4.2%), Mphasis (up 3.02%), Wipro (up 1.88%), TCS (up 1.65%), Tech Mahindra (up 1.31%), L&T Infotech (up 1.19%), Coforge (up 1.1%) and Infosys (up 0.83%) advanced.

Results Today:

Cadila Healthcare (down 0.29%), Sun Pharma (down 0.16%), Dixon Technologies (up 1.3%), Fine Organics (up 1.01%), Goodyear India (up 0.42%), GSFC (down 0.66%), Wockhardt (up 0.69%), Gujarat Pipavav (up 1.25%), Hawkins Cooker (up 1.35%), HEG (up 0.6%), NOCIL (up 0.26%), Rane Holdings (up 0.67%), Strides Pharma (up 0.3%), Black Rose Inds (down 0.2%), Borosil (up 1.14%) and Thomas Cook (down 1.09%) will announce their Jan-March quarter earnings today.

Earnings Impact:

Cummins India fell 1.21%. The company reported a 57% jump in net profit to Rs 185.69 crore on 19.2% rise in net sales to Rs 1,230.86 crore in Q4 FY21 over Q4 FY20. The company said its domestic sales stood at Rs 976 crore in Q4 FY21, improving 26% year on year from Q4 FY20 and declining by 5% as compared preceding quarter. Export sales stood at Rs 255 crore in Q4 FY21. Exports declined by 1% as compared to the same quarter last year and declined by 32% as compared to the preceding quarter. Standalone profit before tax (after exceptional items) stood at Rs 245 crore in Q4 FY21, up 109% over Rs 117 crore in Q4 FY20.

Burger King India declined 3.68%. On a standalone basis, the company's net loss stood at Rs 25.94 crore in Q4 FY21 compared with net loss of Rs 37.41 crore in Q4 FY20. Net sales rose 2.6% to Rs 196.05 crore in Q4 FY21 over Q4 FY20. Pre-tax loss stood at Rs 25.94 crore in Q4 FY21, lower than pre-tax loss of Rs 37.41 crore in Q4 FY20. Restaurant EBITDA slipped 1.8% to Rs 14.11 crore in Q4 March 2021 as compared to Rs 14.37 crore in Q4 March 2020. The Restaurant EBITDA was driven by gross margin improvement and operating cost optimisations. Restaurant EBITDA margin was at 7.2% in Q4 FY21 over 8.8% in Q4 FY20. Reported EBITDA grew 2.1% to Rs 24.59 crore in Q4 March 2021 as against Rs 24.09 crore in Q4 March 2020. Reported EBITDA margin stood at 12.5% in Q4 FY21 over 14.8% in Q4 FY20.

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