At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 252.09 points or 0.49% at 51,367.40. The Nifty 50 index gained 89.85 points or 0.59% to 15,427.70. The Nifty hit a record high level of 15,455.55 in early trade today.
In broader market, the S&P BSE Mid-Cap index was up 0.3% while the S&P BSE Small-Cap index was up 0.21%.
The market breadth was positive. On the BSE, 1506 shares rose and 1208 shares fell. A total of 133 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 168,771,637 with 3,507,285 global deaths.
India reported 23,43,152 active cases of COVID-19 infection and 318,895 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
Buzzing Index:
The Nifty Pharma index slipped 1.05% to 13,952.25. The index has fallen 1.24% in two days.
Dr. Reddy's Lab (down 1.5%), Cadila Healthcare (down 1.09%), Aurobindo Pharma (down 0.84%), Alkem Laboratories (down 0.7%), Lupin (down 0.55%) and Torrent Pharma (down 0.39%) were major losers.
Sun Pharmaceutical Inds fell 2.87%. On a consolidated basis, the company's net profit surged 123.62% to Rs 894.15 crore on 4.13% increase in total revenue from operations to Rs 8,522.98 crore in Q4 March 2021 over Q4 March 2020. The profit was impacted by an exceptional loss worth Rs 672.80 crore related to various litigation settlements pertaining to some of its subsidiaries. Profit before exceptional items and tax surged 88.03% to Rs 1,575.85 crore in Q4 FY21 over Q4 FY20. EBITDA grew 55.8% to Rs 1,956.80 crore in Q4 March 2021 over Q4 March 2020, with resulting EBITDA margin at 23.2%.
Results Today:
Mahindra & Mahindra (down 0.95%), 3M India (up 0.83%), GMM Pfaudler (up 0.16%), Aditya Birla Fashion (up 0.3%), Central Bank of India (up 0.52%), City Union Bank (up 0.43%), Deepak Fertilisers & Petrochemicals (up 0.83%), Dilip Buildcon (down 0.14%), Glenmark Pharma (up 0.21%), Indian Bank (up 1.63%), Ipca Labs (up 0.95%), ITD Cementation (up 0.18%) and Max Healthcare (up 0.19%) will announce their Jan-March quarter earnings today.
Earnings Impact:
IRB Infrastructure Developers fell 1.21% to Rs 106.40 after the company's consolidated net profit dropped 36.85% to Rs 97.46 crore on 1.35% rise in revenue from operations to Rs 1,605.84 crore in Q4 March 2021 over Q4 March 2020. Profit before tax tanked 36.33% to Rs 147.09 crore in Q4 FY21 as against Rs 231.05 crore in Q4 FY20.
Goodyear India jumped 5.78% to Rs 984 after the company's net profit surged 240.31% to Rs 43.22 crore on 51.84% jump in revenue from operations to Rs 569.34 crore in Q4 March 2021 over Q4 March 2020. The revenue was boosted by robust farm demand, distribution expansion initiatives in consumer replacement business and base impact of COVID-19 in March 2020. The improvement in PAT was due to higher volumes, increased factory utilization and cost efficiencies. Profit before tax soared 238.27% to Rs 58.42 crore in Q4 FY21 as against Rs 17.27 crore in Q4 FY20. The volumes improved throughout the quarter driven by record consumer replacement volume and a robust rural demand.
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