The domestic equity barometers ended with robust gains on Thursday. The Nifty closed above the 16,350 mark. IT shares rallied while pharma shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex, advanced 318.05 points or 0.58% to 54,843.98. The Nifty 50 index added 77.65 points or 0.48% to 16,359.90.
The S&P BSE Sensex hit a record high at 54,874.10 while the Nifty hit an all-time high of 16,375.50 in mid-afternoon trade.
The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index rose 1.07%. The S&P BSE Small-Cap index gained 1.97%.
Buyers outpaced sellers. On the BSE, 2268 shares rose and 895 shares fell. A total of 120 shares were unchanged.
COVID-19 Update:
More From This Section
Total COVID-19 confirmed cases worldwide stood at 20,47,35,347 with 43,24,587 deaths. India reported 3,87,987 active cases of COVID-19 infection and 4,29,669 deaths while 3,12,60,050 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Primary Market:
The initial public offer of Aptus Value Housing Finance received bids for 73.14 crore shares as against 5.51 crore shares on Thursday (12 August 2021), according to stock exchange data at 15:25 IST. The issue was subscribed 13.27 times.
The initial public offer of Chemplast Sanmar received bids for 7.63 crore shares as against 3.99 crore shares on offer on Thursday (12 August 2021), according to stock exchange data at 15:25 IST. The issue was subscribed 1.91 times.
These two IPO opened for bidding on Tuesday (10 August 2021) and will close today (12 August 2021).
Buzzing Index:
The Nifty IT index rose 1.80% to 32,240.25. The index declined 0.14% in the previous session.
Oracle (up 5.69%), Tech Mahindra (up 4.85%), MindTree (up 4.14%), Mphasis (up 3.42%), Coforge (up 3.27%), HCL Tech (up 2.57%), Larsen & Toubro Infotech (up 2.44%), Wipro (up 0.73%), Infosys (up 0.42%) and TCS (up 0.08%) advanced.
Earnings Impact:
Indian Railway Catering and Tourism Corporation (IRCTC) jumped 4.45% to Rs 2686.05. The company posted a net profit of Rs 82.52 crore in Q1 FY22 as compared to a net loss of Rs 24.6 crore in Q1 FY21. Revenue from operation jumped 85.3% year on year to Rs 243.36 in Q1 FY22 over Q1 FY21.
The company's board recommended the proposal for sub-division of company's one equity share of face value of Rs 10 each into five equity shares of face value of Rs 2 each subject to the approval of Ministry of Railways and shareholders.
Bharat Petroleum Corporation (BPCL) shed 0.27% to Rs 448.70. The corporation posted a 27.6% decline in standalone net profit to Rs 1,501.65 crore on 77% rise in revenue from operations to Rs 89,687.12 crore in Q1 FY22 over Q1 FY21. The corporation's average gross refining margin (GRM) of the corporation during quarter ended 30 June 2021 stood at $4.12 per barrel (as compared to April - June 2020: $0.39 per barrel).
The market sales of the corporation for the quarter ended 30 June 2021 was 9.63 MMT as compared to 7.53 MMT achieved during quarter ended 30th June 2020. Increase is mainly in HSD-Retail (25.00%), MS-Retail (39.72%) and ATF (115.40%). The state-owned refiner's throughput for Q1 FY22 rose 33% YoY to 6.84 million tonnes.
Bharat Forge jumped 5.94% to Rs 830. The company posted a consolidated net profit of Rs 153.70 crore in Q1 FY22 as against a net loss of Rs 125.80 crore in Q1 FY21. Consolidated total revenue grew 1.2% quarter on quarter and 82.6% year on year to Rs 2,107.70 crore in Q1 FY22. The company's long-term debt stood at Rs 2653.10 crore as of 30 June 2021 compared with Rs 2632.80 crore on 31 March 2021.
3M India added 3.47% to Rs 24584. The company reported a consolidated net profit of Rs 30 crore in Q1 FY22 as against a net loss of Rs 43 crore in Q1 FY21. Sales & other operating income during the quarter increased 115% YoY to Rs 744 crore. As compared with Q4 FY21, however, the company's net profit and sales & other operating income have declined by 57% and 10%, respectively.
3M India said sharp increase in input costs adversely impacted material cost. All segments grew on a Y-o-Y basis. Healthcare grew by 19% sequentially compared to last quarter Jan- March 2021, but all other segments declined on a sequential basis.
Cummins India rose 0.27% to Rs 947.30. The company's consolidated net profit soared 365.7% to Rs 246.94 crore on 141% jump in net sales to Rs 1,177.71 crore in Q1 June 2021 over Q1 June 2020.
Suprajit Engineering rose 1.56% to Rs 315.30. The auto ancillary company reported a consolidated net profit of Rs 43.16 crore in Q1 FY22 compared with net loss of Rs 14.5 crore in Q1 FY21. Consolidated net sales soared 103.8% to Rs 361.62 crore in Q1 FY22 over Q1 FY21.
Bata India added 0.38% to Rs 1672.40. The footwear maker reported a consolidated net loss of Rs 69.4 crore in Q1 FY22, lower than net loss of Rs 100.8 crore posted in Q1 FY21. Total income jumped to Rs 279.2 crore in Q1 FY22 from Rs 187.1 crore in Q1 FY21. Bata said sales across retail outlets remained largely subdued, owing to the second wave of Covid-19 infections and ensuing lockdowns. However, sales through ecommerce platforms continued to remain robust and witnessed an uptick despite the restrictions.
VIP Industries hit an upper circuit of 20% at Rs 463.30. The company's consolidated net profit stood at Rs 2.53 crore in Q1 June 2021 compared with net loss of Rs 51.32 crore in Q1 June 2020. Consolidated revenue from operations surged 411.43% to Rs 206.21 crore in Q1 FY22 as against Rs 40.32 crore in Q1 FY21.
Global Markets:
Most European stocks advanced while most Asian stocks declined on Thursday, as lingering concerns over global COVID-19 cases overshadowed gains on Wall Street after the latest U.S. inflation reading.
Investors continued to monitor the COVID-19 situation in the region after the World Health Organization warned global cases could pass 300 million by early next year if the pandemic continues in its current direction. The projection came just a week after the WHO reported 200 million COVID-19 cases worldwide and six months after the globe topped 100 million cases.
Japanese wholesale prices rose in July at their fastest annual pace in 13 years. The corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, rose 5.6% in July 2021 from a year earlier, Bank of Japan data showed.
In Australia, Melbourne extended its lockdown by another week as it struggles to contain the highly infectious delta variant.
In US, the Dow Jones Industrial Average and S&P 500 closed at record levels on Wednesday, as data indicated U.S. inflation growth may have peaked, while sectors tied to economic growth advanced on the heels of the passage of a large infrastructure bill.
U.S. consumer prices increases slowed in July 2021. The consumer price index increased 0.5% last month after climbing 0.9% in June 2021, the Labor Department said on Wednesday. In the 12 months through July 2021, the CPI advanced 5.4%. The drop in the month-to-month inflation rate was the largest in 15 months.
Powered by Capital Market - Live News