At 12:26 IST, the barometer index, the S&P BSE Sensex, was up 732.06 points or 2.34% at 32,059.28. The Nifty 50 index was up 198.15 points or 2.16% at 9,352.55.
In the broader market, the S&P BSE Mid-Cap index was up 1.48%. The S&P BSE Small-Cap index was up 1.31%. Both these indices underperformed the Sensex.
The market breadth was positive. On the BSE, 1287 shares rose and 837 shares fell. A total of 178 shares were unchanged. In Nifty 50 index, 46 stocks advanced and 4 stocks declined.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 2.9% to 37.9825. The Nifty April 2020 futures were trading at 9,338.05, a discount of 2.95 points compared with the spot at 9,341.
On the options front, the Nifty option chain for 30 April 2020 expiry showed maximum call open interest (OI) of 30.90 lakh contracts at the 9,500 strike price. Maximum put OI of 36.52 lakh contracts was seen at 9,000 strike price.
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Q4 Results Today:
IndusInd Bank (up 3.8%), Ambuja Cement (up 2.29%), HDFC Life (up 5.81%), Adani Power (up 0.65%), and Sasken Technologies (up 2.23%) will announce their Q4 March 2020 results today, 27 April 2020.
Earnings Impact:
Mindtree jumped 10.57% after the company announced decent Q4 numbers after trading hours on Friday, 24 April 2020. On a consolidated basis, Mindtree's net profit rose 4.7% to Rs 206.2 crore on a 4.3% increase in revenue to Rs 2050.5 crore in Q4 March 2020 over Q3 December 2019. Consolidated EBITDA for Q4 March 2020 stood at Rs 351.20 crore, rising 14.7% compared with Rs 3,063 reported in Q3 December 2019. EBITDA margin rose to 17.1% in Q4 March 2020 from 15.6% reported in Q3 December 2019. The board of directors have recommended a final dividend of Rs 10 per share for the financial year ended 31 March 2020.
ICICI Prudential Life Insurance Company surged 9.42% at Rs 361.25 after the company's net premium earned rose 4.16% to Rs 10,475.12 crore in Q4 March 2020 from Rs 10,056.32 crore in Q4 March 2019. Consolidated net profit, however, fell 31.52% to Rs 178.73 crore in Q4 March 2020 as against Rs 261.02 crore in Q4 March 2019. Consolidated net profit fell 6.32% to Rs 1066.98 crore in the year ended March 2020 (FY20) as against Rs 1138.93 crore in the year ended March 2019 (FY19). Profit before Tax (PBT) declined 8.12% to Rs 1066.98 crore in FY20 over FY19. Net premium earned rose 7.52% to Rs 32,878.95 crore in FY20 from Rs 30,578.29 crore in FY19.
Stocks in Spotlight:
Goa Carbon hit a lower circuit of 5% at Rs 208.80 after the total production tanked 70.59% to 6,011.40 MT in March 2020 compared with 20,442.05 MT in March 2019. The production, however, surged 152.79% in March 2020 from 2,378 MT in February 2020. The announcement was made on Sunday, 26 April 2020.
J B Chemicals & Pharmaceuticals rose 2.04% to Rs 563.95 after the US drug regulator approved the company's abbreviated new drug application (ANDA) for Carbamazepine extended release tablets. Carbamazepine extended release tablets are used for the treatment of epilepsy and trigeminal neuralgia. The product is a generic version of Tegretol XR tablet in the same strength of Novartis Pharmaceuticals Corp
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