The domestic equity benchmarks traded near the flat line in morning trade. The Nifty was trading tad above the 15,000 mark. Shares of capital good companies advanced for the fifth trading session.
At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 53.33 points or 0.11% to 49,955.97. The Nifty 50 index lost 13.85 points or 0.09% to 15,016.30.
The broader market was trading higher. The S&P BSE Mid-Cap index gained 0.07% while the S&P BSE Small-Cap index rose 0.50%.
The market breadth was strong. On the BSE, 1565 shares rose and 1019 shares fell. A total of 121 shares were unchanged.
Investors assessed the minutes from the US Federal Reserve's meeting in April that flagged the possibility of a debate on scaling back asset purchases.
A number of participants suggested that if the economy continued to make rapid progress toward the Committee's goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases, according to minutes from the April 27-28 Federal Open Market Committee meeting published Wednesday.
In a press conference following last month's meeting, Chair Jerome Powell had said that it was premature to start talking about tapering.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 164,626,458 with 3,413,801 global deaths.
India reported 31,29,878 active cases of COVID-19 infection and 2,87,122 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
The country recorded 2,76,110 new COVID-19 cases and 3,874 deaths in the last 24 hours, according to the Union Health Ministry. The total tally of the viral infection now stands at 2,57,72,440.
Meanwhile, the Indian Council of Medical Research (ICMR) on Wednesday approved a home-based rapid antigen testing (RAT) kit for COVID-19, which it advised should be used only on symptomatic individuals and on immediate contacts of laboratory confirmed positive cases.
Buzzing Index:
The S&P BSE Capital Goods rose 0.72% to 22,145.11, extending gains for fifth day. The index has added 4.44% in five sessions.
V-Guard Industries (up 4.09%), Bharat Heavy Electricals (up 3.26%), Kalpataru Power Transmission (up 2.06%), Adani Green Energy (up 1.86%) and SKF India (up 1.54%) were the top index gainers.
ABB India (down 1.56%), Graphite India (down 1.48%), Bharat Forge (down 1.30%), Siemens (down 0.80%) and Grindwell Norton (down 0.77%) were the top index laggards.
Results Today:
HPCL (down 0.61%), Bosch (down 0.51%), Havells India (down 0.38%), JK Lakshmi Cement (up 3.10%), Plastiblends India (up 1.78%), Relaxo Footwears (up 2.35%), Torrent Power (down 0.91%), and Zee Entertainment Enterprises (down 0.55%) are some of the companies that will announce their quarterly earnings today.
Earnings Impact:
Indiabulls Housing Finance rose 0.36% to currently trade at Rs 193.95. On a consolidated basis, the company reported 101.5% jump in net profit to Rs 276.23 crore in Q4 FY21 as against Rs 137.06 crore in Q4 FY20. Total income declined by 18% year-on-year (YoY) to Rs 2421.96 crore during the quarter.
Net interest income declined by 7.7% to Rs 764 crore in Q4 FY21 from Rs 828 crore in Q4 FY20. Provisions and write offs in Q4 FY21 were at 316.49 crore, down by 40.9% from Rs 535.69 crore in Q4 FY20.
Indiabulls Housing's loan book as on 31 March 2021 was at Rs 66,047 crore, lower by 9.61% as compared with Rs 73,065 crore as on 31 March 2021.
On the asset quality side, the gross NPA ratio stood at 2.66% as on 31 March 2021 compared to 2.44% on 31 December 2020. The net NPA ratio stood at 1.59% as on 31 March 2021 from 1.46% as on 31 December 2020.
"Had the company not chosen to de-grow its book in the past 1 year, the above Gross NPAs of 2.66% would have been at 2.31%," Indiabulls Housing Finance said in a statement.
JK Tyre & Industries gained 3.24% to Rs 127.95 after the tyre maker reported a consolidated net profit of Rs 189.12 crore in Q4 FY21 as against a net loss of Rs 47.20 crore in Q4 FY20. Net sales grew by 63% to Rs 2,927.28 crore in Q4 FY21 over Q4 FY20.
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