The sentiment was boosted by media reports that India will soon announce fresh relief measures and economic stimulus. Meanwhile, Maharashtra Chief Minister Uddhav Thackeray on Sunday (19 April) said industries in green zones and orange coronavirus zones will get permission to resume operations in a restricted manner. The green zones are those which have not reported any coronavirus case, while orange zones are the ones where only a few cases have been reported.
The broader market outperformed the benchmarks. The S&P BSE Mid-Cap index was up 0.95% while the S&P BSE Small-Cap index was up 1.38%.
The market breadth was strong. On the BSE, 1254 shares rose and 678 shares fell. A total of 125 shares were unchanged. In Nifty 50 index, the breadth was negative with 19 stocks advancing and 31 stocks declining.
Earnings Impact:
HDFC Bank jumped 4.22% after the bank's net profit rose 17.72% to Rs 6,927.69 crore on 15.10% increase in total income to Rs 35,917.63 crore in Q4 March 2020 over Q4 March 2019. The bank's gross non-performing assets (NPAs) stood at Rs 12649.97 crore as on 31 March 2020 as against Rs 13427.25 crore as on 31 December 2019 and Rs 11224.16 crore as on 31 March 2019. The ratio of gross NPAs to gross advances stood at 1.26% as on 31 March 2020 as against 1.42% as on 31 December 2019 and 1.36% as on 31 March 2019.
TCS gained 0.85% to Rs 1822.15, extending its winning run to second consecutive session. TCS has surged 6.21% in two trading sessions from its previous closing low of Rs 1715.6 posted on 16 April.
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The IT major declared its quarterly result on after market hours on Thursday, 16 April 2020. On a consolidated basis, TCS reported 0.85% fall in net profit to Rs 8,049 crore on 0.03% rise in total income to Rs 40,684 crore in Q4 March 2020 over Q3 December 2019. Operating margin for the Q4 stood at 25.1%, and net margin reported was 20.2%.
Stocks in Spotlight:
Infosys will announce its Q4 March 2020 result after market hours today around 3:45 IST. The company also announced that the leadership team will be part of a common press conference at 4:45 p.m. IST. Infosys rose 3.64% to Rs 652.20 ahead of its result today.
TVS Motor Company jumped 1.94% after the company announced the acquisition of Britain's most iconic sporting motorcycle, Norton in an all-cash deal for a consideration of GBP16 million. The company said that the deal was completed by acquiring certain assets of Norton Motorcycles (U.K.) (in administration) through one of TVS Motor's overseas subsidiaries.
Ultratech Cement rose 0.36% after the company said it partially resumed operations at some of its locations after obtaining necessary permissions. On 23 March 2020, the company had announced suspension of operations at its various locations in light of the COVID - 19 outbreak.
Tata Motors on Saturday (18 April 2020) announced Jaguar Land Rover retail sales number for the fiscal year 2020 and Q4 March 2020. Jaguar Land Rover added that the coronavirus pandemic had significantly impacted sales in the fourth quarter of the fiscal year. Jaguar Land Rover retail sales fell 12.1% to 508,659 vehicles in the fiscal year 2019-20 (FY20) over FY19. The company's total retail sales for the quarter ending on 31 March 2020 were 109,869 vehicles, down 30.9% compared to the same period last year. Tata Motors jumped 6.57% to Rs 81.90 on BSE.
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