Sensex slips 291 pts amid weak global cues; pharma, PSB stocks rally

Coal India, Cipla, Sun Pharma, UPL, Nestle India, Indian Oil Corporation, Tech M, Axis Bank, and SBI Life were the top gainers of the day

3:43 PM

Sensex Heatmap at Close

Top gainers: Sun Pharma, Nestle India, Bajaj Auto

Top losers: M&M, Bajaj Finserv, HDFC

3:37 PM

Rupee Closing

Rupee ends weaker at 73.16 per US dollar vs Tuesday's close of 73.05/$

3:33 PM

CLOSING BELL

After a gap-down start, the BSE barometer of 30-shares managed to eke out slim gains in the intra-day deals but tumbled nearly 450 points from the day's high to hit a low of 49,831. The index settled the day at 49,903 levels, down 291 points or 0.58 per cent.

 

On the NSE, the Nifty50 index defended the crucial 15,000-mark and closed at 15,030 levels, down 78 points or 0.52 per cent. Earlier today, it hit a low of 15,008.

 

3:26 PM

Sensex at day's low

3:17 PM

LARGE TRADE :: Coforge plunges 4% as 3.1 million shares change hands on BSE

>> 3,124,352 shares change hands at Rs 3,266/share

3:05 PM

Foreign currency deposits lose sheen due to stable rupee

Flow of deposits from non-resident Indians hit a four-year low in the financial year 2020-21 mainly due to contraction in foreign currency deposits, latest data released by the Reserve Bank of India (RBI) showed.

 

The flow of total NRI deposits during the financial year 2020-21 was $7.3 billion as compared to $8.6 billion in FY20. This was the lowest flow of NRI deposits since 2016-17 when these deposits contracted by $12.3 billion. READ MORE

2:56 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

2:49 PM

NCLT asks DHFL administrator to place Kapil Wadhawan's offer before CoC

The Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday asked the administrator of the beleaguered mortgage lender Dewan Housing Finance Limited (DHFL) to place resolution plan of its erstwhile promoter, Kapil Wadhawan, before the Committee of Creditors (CoC). The tribunal has asked the CoC to convene in 10 days and consider the proposal put forward by Wadhawan. The matter will be next heard on May 31. READ MORE

2:43 PM

March Quarter Results :: Indian Oil Corp reports net profit of Rs 8,781 crore

>> Revenue: Rs 1.24 trillion

>> Ebitda: Rs 13,501 crore

>> Ebitda margin: 10.9%

>> Final dividend: Rs 1.5 per share

>> FY21 Average GRM: $5.64/ BBL vs $0.08/ BBL Y/Y

2:36 PM

Eicher Motors in focus :: Royal Enfield to recall 236,966 units of Classic, Bullet, Meteor models

2:31 PM

Nifty Realty index rises over 2% in an otherwise weak market

2:25 PM

Vedanta restarts medical oxygen production at Sterlite Copper plant

Oxygen production at Vedanta Ltd's copper smelter plant or Sterlite Copper located in Thoothukudi was restarted on Wednesday, said a company official.

 

According to Vedanta, the disruption in the oxygen plant has been rectified, and has now resumed production.

 

"The oxygen generated is being stored at our onsite facilities and will be distributed as per the directions of the State government and concerned nodal officers," the company said. READ MORE

2:17 PM

Sensex Heatmap at this hour

2:09 PM

Retail investors miss rally in Gland Pharma; stock up 118% over IPO price

Retail investors on Dalal Street have missed the rally in Gland Pharma as the stock of the drug firm hit a new high of Rs 3,266, up 7 per cent on the BSE, in intra-day trade on Wednesday. In the last two days, the scrip has surged 17 per cent after the company reported a healthy 34 per cent year-on-year (YoY) rise in its consolidated net profit to Rs 260.4 crore in the March 2021 quarter (Q4FY21) on robust sales. READ MORE

1:56 PM

Bank of Baroda Q4 result preview: Here is what leading brokerages expect

HSBC

 

The research and brokerage house expects BoB’s operating profit to stay muted at Rs 5,000.4 crore in Q4FY21, down 2 per cent on a yearly basis from Rs 5,120.8 crore reported in Q4FY20. On a sequential basis, this would mean an 11 per cent cut from Rs 5,590.6 crore reported in the December quarter of FY21.

However, moderation in credit cost and low base should drive the lender’s net profit growth up 41 per cent year-on-year (YoY) to Rs 715.5 crore from Rs 506.6 crore. On a QoQ basis, PAT may decline 33 per cent from Rs 1,061.1 crore. READ MORE