Investors look beyond Covid cases' surge; Sensex zooms 790 pts; banks rally
CLSA opines that the surge in Covid cases in Maharashtra may taper in May as the state is in its fourth-month of the second wave. This, it believes, will be positive for the markets
9:34 AM
NEWS ALERT | Anupam Rasayan bags order worth Rs 1,100 crore
Anupam Rasayan has bagged Rs 1,100 crore order from a multinational life sciences company
9:28 AM
Britannia sheds 1% as Q4 net falls after 6 quarters on rising input costs
FMCG major Britannia Industries reported a 3 per cent YoY decline in consolidated net profit at Rs 360.07 crore in the fourth quarter ended March 31, impacted by rising in commodity prices. It was after 6 quarters that Britannia reported a decline in profit.
9:27 AM
Result Impact | Bajaj Finance climbs 3% post solid Q4 show
The company's consolidated profit jumped 42 per cent YoY to Rs 1,347 crore for the fourth quarter of the fiscal ended March 2021. The company's net profit stood at Rs 948 crore in the January-March period of the preceding fiscal year 2019-20.
9:25 AM
Earnings Reaction | TVS Motor Company hits 10% upper circuit on four-fold jump in Q4 profit
> TVS Motor Company posted nearly four-fold increase in its consolidated net profit to Rs 319.19 crore for the fourth quarter ended March 31, 2021, riding on the back of robust sales in the domestic and international markets.
9:21 AM
Sector Watch | All sectoral indices on NSE trade in the green
> NIfty PSU Bank index and Nifty Auto lead with a gain of nearly 1% each
9:20 AM
Broader markets outperform benchmark
9:18 AM
Sensex Heatmap | Top gainers & losers in opening session
9:17 AM
OPENING BELL: Sensex rises 250 points, Nifty50 tops 14,700
9:14 AM
Nifty outlook and trading ideas by HDFC Sec: Buy SBI, Glenmark Pharma
Nifty has been trading in the downward sloping channel on the daily charts. Close above 14750 would result in to fresh breakout on short term charts. Support has shifted up to 14500 odd levels and traders should remain long with that stop loss. Above 14750, Nifty could extend the rally towards 14980. BankNifty looks strong and is expected to outperform the Nifty in the coming days. READ MORE
9:05 AM
COMMODITY CHECK
9:04 AM
Sensex Heatmap | Top gainers & losers in pre-open trade
9:04 AM
Nifty50 tops 14,750 in pre-open trade
9:02 AM
Pre-open Session | Sensex jumps over 300 points
9:01 AM
Top stocks to watch today
Earnings Today: A total of 21 companies are slated to post their March quarter results today including Bajaj Finserv, Biocon, Mastek, Tata Communications, UTI Asset Management Company, SIS and Bombay Dyeing & Manufacturing.
Axis Bank: The private sector lender reported a return to profit at Rs 2,677 crore in the quarter ended March 2021 due to a sharp fall in provisions. The lender had reported a standalone net loss of Rs 1,388 crore in the year-ago period. READ MORE
8:59 AM
BROKERAGE VIEW :: Emkay Global on Maruti Suzuki
MSIL should retain pole position, driven by the launch of new products to fill white spaces and network expansion. Over the next 2-3 years, new models could include Jimny UV, Above 4m UV, Baleno crossover, EV hatchback, etc. The network has increased to over 3,200 touch points, and the expansion continues. We expect 22% CAGR in revenues and 43% in earnings over FY21-24E, with average FCF of ~Rs52bn. Retain Buy with a TP of Rs 8,500 (Rs9,000 earlier), based on 25x FY23E EPS. The target multiple implies core P/E of 30x and net cash of Rs1,582/ share. Key downside risks include a delay in economic recovery,
failure of new products, increase in competitive intensity, adverse movement in currency/commodity prices, etc.
Topics : Coronavirus MARKET WRAP Q4 Results Markets Sensex Nifty S&P BSE Sensex Nifty50 SGX Nifty Axis Bank Britannia Industries Bajaj Finserv
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First Published: Apr 28 2021 | 7:59 AM IST