F&O expiry: Sensex up 32 pts, ends April series below 50,000; metals shine

Among key sectoral indices, robust global demand lifted the Nifty Metal index to record peak of 4,869 on the NSE today

1:34 PM

BROKERAGE VIEW :: Citi on financials

>> While there is uncertainty about the impact on consumer sentiment, fewer restrictions (relative to last year's nationwide lockdowns) on activity suggest that the overall impact on businesses may be less than in the first wave.

>> NIFTY is down 4% from its mid-Feb peak. There has been significant sector rotation with financials/consumer discretionary/industrials down 10%/8%/4% and materials/healthcare/IT up 14% /4%/2%.

>> We have increased our OW on financials slightly; we add IndusInd Bank to the Model Portfolio and allocate some weights internally from insurers to banks.

1:24 PM

March Quarter Results

HUL recommends a final dividend of Rs. 17 per share for FY21

Together with the interim dividend of Rs 14.00 per share, paid on 12th November 2020, the total dividend for the financial year ended 31st March 2021 amounts to Rs. 31.00 per share

1:22 PM

March Quarter Results :: HUL reports profit of Rs 2,140 crore, beats estimates

>> Revenue comes in at Rs 12,433 crore

>> Ebitda stands at Rs 3,043 crore

>> Volume grows 16% YoY

1:14 PM

March Quarter Results :: Inox Leisure's loss widens to Rs 116.96 cr vs Rs 20.6 cr YoY

>> Revenue slips from Rs 371.58 cr to Rs 90.44 cr

Note: These are standalone figures

1:00 PM

Sensex Heatmap | Top gainers & losers at this hour

12:49 PM

S&P downgrades Future Retail's issuer credit rating on debt recast

Global rating agency Standard & Poor's has downgraded Future Retail Ltd's long term rating issuer credit rating from "CCC-" to "SD", amounting to default. The rating action follows restructuring of onshore debt.

 

India-based Future Retail has completed the one-time restructuring of its onshore debt (about Rs 10,200 crore) that includes extending the maturity of its term loans and other borrowings. READ MORE

12:39 PM

NEWS ALERT :: Airtel says Olusegun “Segun” Ogunsanya to take over as Africa arm MD & CEO

12:31 PM

UTI AMC hits 52-week high as firm returns to profit in March quarter

Shares of UTI Asset Management Company (AMC) hit fresh 52-week high of Rs 641.25 on the BSE in Thursday's intra-day session after the company reported a return to profit during the quarter ended March 2021. The company on Thursday posted a consolidated net profit of Rs 133.62 crore for the March quarter of the financial year 2020-21 (FY21) as against a loss of Rs 27.58 crore in the corresponding period a year ago. READ MORE

12:20 PM

March Quarter Results :: Sterlite Tech's consolidated PAT increases to Rs 120 cr vs Rs 87 cr QoQ

>> Cons revenue rises to Rs 1,480 cr vs Rs 1,310 cr QoQ

>> Ebitda margin slips to 17.4% from 17.5% QoQ

>> Declares dividend worth Rs 2/share

12:07 PM

Volume, margin pressures may slow down TVS performance in June quarter

TVS Motor surprised the Street with a sharp margin expansion in the March quarter, even as its peers in the auto sector struggled to cope with the pressure on profitability. Price hikes, higher exports, an improving product mix, and cost reduction efforts led to a 246-basis-point jump in stand-alone margins helping it cross the elusive 10 per cent-mark.

 

The better-than-expected margin performance, compared to the Street’s expectation of 8.5 per cent, led to the highest single-day surge in its stock for over seven years. READ MORE

11:54 AM

IndusInd Bank gains 13% in 4 days ahead of Q4 result; here's what to expect

HSBC

 

The global brokerage is eyeing a 198 per cent YoY growth in net profit at Rs 899.5 crore for Q4FY21, up from Rs 301.8 crore reported in Q4FY20. Sequentially, however, PAT may grow just 5 per cent from Rs 852.8 crore. Operating profit, on the other hand, is seen up per cent YoY at Rs 2,980 crore from Rs 2,836.2 crore.

 

"Focus remains on bank's stressed exposures and potential write-offs in stressed pool. However, moderation in credit costs should drive PAT growth (off a low base)," it said. READ MORE

11:43 AM

SBI business activity index falls below pre-Covid level as lockdowns return

State Bank of India’s business activity index has fallen below the level before the coronavirus pandemic, affected by lockdowns and restrictions in cities and states to slow down the outbreak. The in-house Index of India’s largest bank dipped to a low of 75.7: a level it had attained in August 2020, “and now a clear 24.3 per cent down from-pre pandemic level.” READ MORE

11:33 AM

Morepen Laboratories rallies 17% in two days on fundraising plans

Shares of Morepen Laboratories extended their winning run to the second day in a row and jumped nearly 8 per cent to hit a fresh 52-week high on the BSE in Thursday's session after the company board approved raising Rs 433 crore via issuance of shares on a preferential basis. So far in the two trading sessions, the scrip has gained 17 per cent. READ MORE

11:21 AM

Markets are geared up for a bull-phase. Sensex can hit 51,800 levels

Supported by the US Fed decision to keep policy loose and firm global markets cues, benchmark indices extended their bull run to fourth straight day on Thursday. Starting gap-up, frontline indices reclaimed major psychological marks in the early deals with the S&P BSE Sensex reclaiming the 50,000 mark. READ MORE

11:06 AM

India's gold demand could falter in June quarter on Covid-19 lockdowns: WGC

India's gold consumption is expected to falter in the June quarter as various states are imposing lockdowns to arrest rising COVID-19 cases, dampening the celebration of weddings and key festivals, the World Gold Council (WGC) said on Thursday. Appetite for gold soared in the first quarter on pent-up demand after weddings were delayed in 2020 due to the COVID-19 pandemic. READ MORE