Sensex adds 613 pts; Nifty ends above 15,100; MidCap index hits record peak

In the broader market space, the S&P BSE MidCap index zoomed 1.9 per cent to settle at 21,232 after hitting record peak of 21,255 levels earlier today

10:30 AM

India to outperform emerging markets, bet on cyclicals: Morgan Stanley

Indian equities are likely to outperform their emerging market (EM) peers in 2021, says the latest report by Morgan Stanley and bets on domestic cyclical stocks followed by rate sensitives. The research and broking house, however, has kept its December 2021 target for the S&P BSE Sensex unchanged at 55,000 levels (base case; 50 per cent probability) for now – an upside of around 10 per cent from the current levels. READ MORE

10:18 AM

NEWS ALERT :: Dilip Buildon executes concession agreement with NHAI

We are pleased to inform you that the 'Bangalore Malur Highways Private Limited', 'Malur Bangarpet Highways Private Limited', 'DBL Poondiyankuppam Highways Private Limited' & 'DBL Viluppuram Highways Private Limited' wholly owned subsidiaries of the company has executed the concession agreement with the National Highways Authority of India (Ministry of Road Transport and Highways) on May 17, 2021, the company said in a filing. 

10:15 AM

Orient Cement surges 10%, hits 52-week high on strong Q4 results

The cement maker reported revenue growth of 27.1 per cent year-on-year (YoY) at Rs 832 crore. Earnings before interest, taxes, depreciation and amortisation (EBITDA) margin improved by 530 basis points (bps) YoY and 174 bps quarter-on-quarter (QoQ) to 24.4 per cent. READ MORE

10:04 AM

MARKET UPDATE:: Sensex off early high, but still up 450 pts

10:00 AM

Rupee opening

Rupee opens at 73.20 per US dollar vs Monday's close of 73.22/$

9:51 AM

Most active stocks by volume

Company	PRICE(rs)	CHG(%)	VOLUME
Vodafone Idea	8.63	0.82	4791079
HFCL	42.10	-1.17	1533846
Federal Bank	85.45	4.65	1018817
St Bk Of India	387.80	1.15	898295
Trident	16.55	2.80	850653

9:45 AM

MORNING MARKET COMMENTARY :: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The positive trigger for the market now is the steadily declining fresh Covid cases and the steadily rising recovery rates. The latest numbers (2.62 lakh fresh cases & 4.22 lakh recoveries) indicate a continuation of this positive trend. The market is discounting progressive lifting of the widespread lockdowns starting in early June. Even though growth & earnings will be impacted in Q1, smart recovery can be expected in the subsequent quarters.
 

Sectoral rotation & value buying is pushing up financials particularly banking stocks. The latest trends indicate that the stress in the banking system is not as bad as feared earlier. With progressive unlocking of the economy, credit growth is likely to pick up starting June improving the prospects for frontline financials. Market action is likely to be stock specific in the coming days with the market responding to Q4 numbers & likely trends

9:36 AM

Strides Pharma rallies over 3% as promoters release pledged shares

The promoter group of the company have released substantial pledge of over 38 percent, taking the current overall promoter group pledge at 25.98 per cent of the promoter holding and 7.71 per cent of the paid up capital of the company.

9:34 AM

HCL Tech trades over half a per cent higher

IT services major HCL Technologies said it is hiring 1,000 technology professionals from the fields of digital transformation, cloud, artificial intelligence and cybersecurity in the United Kingdom.

9:32 AM

Apollo Tyres rises 1.6%

Apollo Tyres said it has become the first manufacturer in the country to get accreditation from NABL for outdoor regulatory testing. The company has been accredited with ISO/IEC 17025 for the 'wet grip and coast by noise' tyre tests on the track, Apollo Tyres said in a statement. That apart, the company said Perambra plant in Kerala will be closed till May 23 in view of the local restrictions due to Covid-19.

9:31 AM

Wabco India shares decline despite healthy bottom line growth in Q4

Auto component manufacturer Wabco India on Monday reported 55 per cent YoY rise in net profit at Rs 48 crore for the fourth quarter ended March 31, 2021.

9:29 AM

Gland Pharma soars over 4% as PAT rises 34% YoY in Q4

Drug firm Gland Pharma reported a 34 per cent YoY rise in its consolidated net profit to Rs 260.4 crore for the fourth quarter ended March 2021, on account of robust sales. It had posted a net profit of Rs 194.8 crore for the corresponding period of the previous fiscal.

9:28 AM

Reliance Industries adds 1% on largest international submarine cable system plan

Reliance Jio said it is constructing the largest international submarine cable system centred on India with global partners and submarine cable supplier Subcom to cater to increased data demand.

9:27 AM

Orient Cement hits fresh 52-week high post March quarter results

The company logged an over two-fold jump in net profit at Rs 99.87 crore in the fourth quarter ended March 2021. It had posted a net profit of Rs 44.06 crore in the January-March quarter a year ago.

9:25 AM

Result impact :: Bharti Airtel erases losses, turns positive