Sensex ends choppy day 42 pts up; Asian Paints jumps 8%, Tata Steel down 4%

On a weekly basis, both, the Sensex and the Nifty50 indices slipped around 1 per cent each

11:50 AM

Lupin shares slide 4% amid profit booking post March quarter results

Shares of Lupin were down 4 per cent to Rs 1,165.95 on the BSE in the intra-day trade on Friday on profit booking after the company's consolidated sales declined 0.8 per cent year on year (YoY) to Rs 3,759 crore for the quarter ended March 31, 2021 (Q4FY21), led by a YoY decline in US and in API (active pharmaceutical ingredient) sales. The pharmaceutical's company had posted sales of Rs 3,791 crore in the corresponding period of FY20. READ MORE

 

11:41 AM

Sterlite Copper oxygen plant in TN hits 'technical snag', halts production

Vedanta Ltd owned Sterlite Copper Plant which recently, commenced production of medical oxygen at its facility in Tamil Nadu has faced a 'technical snag' in a cold box leading to a suspension of production, the company said on Friday. The facility began production of medical oxygen and the first set of medical oxygen tankers was dispatched to the beneficiaries on Thursday from the Tuticorin plant, located about 600 kms from here. READ MORE

11:30 AM

Mphasis shares decline 2% on muted March quarter performance

Shares of mid-tier information technology (IT) firm Mphasis slipped 1.8 per cent in Friday's intra-day deals on the BSE to Rs 1,764 apiece after the company reported a muted set of numbers in March quarter of fiscal year 2020-21 (Q4FY21). At 11:00 AM, the stock was quoting 1.2 per cent down at Rs 1,776 per share on the BSE as against a 0.09 per cent rise in the benchmark S&P BSE Sensex. The S&P BSE IT index, meanwhile, eased 0.74 per cent. READ MORE

11:22 AM

MARKET UPDATE:: Broader indices underperform benchmarks; India VIX up 4%

11:12 AM

Top losers on BSE at this hour

Company	PRICE(rs)	CHG(%)
NMDC	188.20	-7.24
Jindal Steel	425.90	-6.74
Alkyl Amines	3671.50	-6.05
SPARC	226.35	-5.51
Natl. Aluminium	70.90	-5.47

11:03 AM

Indian stock market's reaction to Covid-19 crisis is surprisingly muted

India’s Covid-19 crisis has so far failed to spark a deep stock selloff like that seen last year, and some asset managers point to less stringent curbs on activity as one factor at least for now. Even as the nation reports more than 300,000 confirmed infections and over 4,000 deaths a day, India’s benchmark equity index has been moving in line with regional peers. The S&P BSE Sensex index has declined 6.6% from a mid-February peak, about as much as the MSCI AC Asia Pacific index. READ MORE

10:54 AM

HG Infra Engineering soars 19% on robust March quarter results

The company’s revenue during the quarter under review increased 65 per cent to Rs 1,027.8 crore from Rs 622.9 crore in the corresponding quarter of previous year, clearly reflecting the sharp pickup in execution. Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 64 per cent YoY to Rs 166.5 crore from Rs 101.40 crore in the year-ago quarter. READ MORE

10:46 AM

Result today :: L&T Q4 PAT seen rising up to 18% YoY as margin pressures ease

Most analysts back Larsen and Toubro (L&T), in the large-cap space, to report healthy quarterly results on the back of nearly Rs 17,500 crore order book.

 

Company’ ability to hold on to margins amid higher raw-material prices and restored salaries/wage cuts through cost efficiencies and cost control, order pipeline, and commentary on FY22 guidance amid the Covid-19 second wave uncertainty are among the key monitorables for L&T, according to analysts. READ MORE

10:35 AM

GoAir files IPO papers to raise Rs 3,600 crore, rebrands itself

GoAir has filed a draft red herring prospectus for a share sale to raise Rs 3,600 crore, as it rebrands to become an "ultra-low-cost" airline. The Wadia group airline will use the proceeds to meet debt obligations, pay oil companies and for replacement of letter of credit to aircraft lessors for lease rental payment and future maintenance of aircraft. READ MORE

10:25 AM

NEWS ALERT :: Tata Motors to consider raising funds on May 18

>> Funds to be raised by way of issue of one or more instruments including convertible securities of any description or debt securities, through preferential issue, private placements, rights issue or any other methods or combination thereof in the domestic and/or international markets.

10:20 AM

Asian Paints surges 11% on strong revenue growth in Q4

The company’s profit after tax (PAT) during the quarter under review increased by 81 per cent YoY to Rs 870 crore. Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 53.4 per cent YoY to Rs 1,318 crore. On the margin front, while no price hike in Q4 weighed on gross margins (down around 266 basis points (bps) YoY), savings in employee and other costs to the tune of 100 bps and 290 bps YoY, respectively, led to a 127 bps YoY increase in EBITDA margin. READ MORE

10:11 AM

NEWS ALERT :: L&T Construction wins order in the range of Rs 2,500-5,000 cr

Click here for project details

10:04 AM

Rupee opening

Rupee opens at 73.43 per US dollar vs Wednesday's close of 73.42/$

10:03 AM

NEW LISTING :: PowerGrid InviT lists at Rs 104 on the BSE vs issue price of Rs 100/sh

10:00 AM

Markets will digest dent on June quarter earnings as one-time hit: CLSA

The ongoing second wave of Covid infections and the ensuing lockdown across key economic hubs will dent corporate earnings in the June 2021 quarter (Q1FY22), but the markets will take this in their stride and digest them as a one-time hit look forward to growth as the economy normalises after this wave, believe analysts at CLSA. READ MORE