At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 216.77 points or 0.45% at 48,603.16. The Nifty 50 index gained 214 points or 0.49% at 14,555.45.
In broader market, the S&P BSE Mid-Cap index was up 0.49% while the S&P BSE Small-Cap index was up 0.83%.
The market breadth was strong. On the BSE, 1711 shares rose and 763 shares fell. A total of 140 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 147,540,977 with 31,17,438 deaths.
India reported 28,82,204 active cases of COVID-19 infection and 197,894 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. In last 24 hours, India posted 3,23,144 new COVID-19 cases and 2771 deaths.
For the third day in a row, Mumbai city on Monday reported new COVID-19 cases below 6,000. With the addition of 3,876 new cases, the total number of COVID cases in the maximum city has increased to 6,31,527. 9,150 people have been discharged from hospitals post-recovery. At present, there are 70,373 active cases in the city.
Buzzing Index:
The Nifty Metal index added 1.9% to 4,622.85, extending its winning run to second consecutive trading session. The metal index has added nearly 4% in two days.
Hindalco Industries (up 4.38%), National Aluminium Company (up 4.15%), Jindal Steel & Power (up 2.54%), Vedanta (up 2.26%), Tata Steel (up 2.06%), NMDC (up 1.54%), JSW Steel (up 1.32%), Hindustan Zinc (up 1.17%) and Coal India Ltd (up 0.39%) were top gainers.
Results Today:
Bajaj Finance (up 1.25%), Axis Bank (down 2%), Britannia Industries (up 0.45%), ABB India (up 1.33%), HDFC AMC (up 0.48%), Hindustan Zinc (up 1.35%), IEX (up 2.75%), Maruti Suzuki (up 0.25%), Nippon India Life Asset Management (up 1.29%), PNB Housing Finance (Up 2.27%), TVS Motor Company (up 0.29%) and United Breweries (down 0.52%) will announce quarterly results today.
Earnings Impact:
Tech Mahindra fell 1.08%. The IT major's consolidated net profit fell 17.44% to Rs 1,081 crore on 0.9% rise in revenues to Rs 9,730 crore in Q4 FY21 over Q3 FY21. The company's consolidated net profit rose 34.6% while revenue grew by 2.5% in Q4 March 2021 over Q4 March 2020. The IT company's profit before tax (PBT) jumped 60% year on year, but declined 10% quarter on quarter to Rs 1544 crore in Q4 FY21. EBITDA grew 2.8% to Rs 1,948 crore in Q4 FY21 over Q3 FY21. EBITDA margin stood at 20% in Q4 FY21 as against 19.6% in Q3 FY21 and 14.2% in Q4 FY20. In US Dollar terms, revenues stood at $1,329.6 million in Q4 FY21, up 1.6% quarter-on-quarter and 2.7% year-on-year. Revenue growth stood at 0.7% Q-o-Q in constant currency terms. EBITDA was at $266.1 million, registering a growth of 3.5% Q-o-Q. PAT declined 16.9% Q-o-Q to $147.70 million in Q4 FY21. Free cash flow stood at $187 million during the quarter ended March 2021.
SBI Cards rose 1.14%. On a standalone basis, the company's net profit soared 109.95% to Rs 175.42 crore on 1.68% decline in total income to Rs 2,468.14 crore in Q4 FY21 over Q4 FY20. Return on average assets (ROAA) stood at 2.6% in Q4 FY21 as against 1.3% for Q4 FY20. Return on average equity (ROAE) was at 11.2% during Q4 FY21 as against 6.5% for Q4 FY20. During the quarter, Capital Adequacy Ratio stood at 24.8% compared with 22.4% in Q4 FY20. Card-in-force grew 12% to 1.18 crore as of Q4 FY21 from 1.05 crore as of Q4 FY20. Spends jumped 11% to Rs 35,943 crore in Q4 FY21 as against Rs 32,429 crore for Q4 FY20. Market share (available till February) for Card-in-force segment stood at 19% for FY21 from 18.3% in FY20. The Spends segment reported a market share of 19.5% for FY21 over 17.9% during FY20.
Castrol India jumped 4.39% to Rs 130.75 after the lubricants maker reported 94.6% jump in net profit to Rs 243.60 crore on 65.5% increase in net sales to Rs 1138.70 crore in Q1 March 2021 as compared to Q1 March 2020. Profit before tax in the first quarter stood at Rs 332.30 crore, up by 96% from Rs 169.50 crore in the same period last year.
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