Key equity barometers held firm near the day's high in mid-afternoon. Global stocks were positive as investors watched for U.S. election results.
At 14:22 IST, the barometer index, the S&P BSE Sensex, was up 499.34 points or 1.26% at 40,256.92. The Nifty 50 index added 140.55 points or 1.20% at 11,809.70.
In the derivatives segment on the NSE, the India VIX slumped 4.92% to 23.9675.
The broader market lagged the benchmarks. The S&P BSE Mid-Cap index rose 0.46% while the S&P BSE Small-Cap index gained 0.56%.
Buyers outnumbered sellers. On the BSE, 1391 shares rose and 1114 shares fell. A total of 202 shares were unchanged.
Numbers to Track:
In the foreign exchange market, the partially convertible rupee fell to 74.4125 compared with its previous closing 74.4250.
The yield on 10-year benchmark federal paper rose to 5.894% compared with its closing of 5.890% in the previous trading session.
MCX Gold futures for 4 December 2020 settlement declined 0.15% to Rs 50,992.
In the commodities market, Brent crude for January 2020 settlement rose 77 cents to $39.74 a barrel. The contract had gained 2.7% or $1.03 to settle at 38.97 in the previous trading sessions.
Earning Impact:
Godrej Properties tumbled 7.89% to Rs 1049.50 after the realty major's consolidated net profit fell 77.5% to Rs 7.1 crore in Q2 September 2020 from Rs 31.57 crore in Q2 September 2019. Revenue from operations tumbled 65.5% to Rs 89.5 crore in Q2 September 2020 from Rs 259.67 crore in Q2 September 2019.
The quarter witnessed total booking value of Rs 1,074 crore and total booking volume of 1.72 million sq. ft. in Q2 September 2020 compared with total booking value of Rs 1,446 crore and total booking volume of 2.25 million sq. ft. in Q2 September 2019. The company added a new project in Mumbai with saleable area of approximately 1.5 million sq. ft. in Q2 FY21 and a new project in Bangalore with a saleable area of approximately 1.6 million sq. ft. in October 2020.
Varun Beverages shed 0.75% to Rs 667.70. On a consolidated basis, the company's net profit surged 99% to Rs 161.47 crore on 3.6% rise in net revenues to Rs 1,802.63 crore in Q3 September 2020 over Q3 September 2019.
The company's realization per case improved by approximately 8% in the third quarter essentially on account of higher mix of CSD and rationalized trade promotions. Total sales volumes, however, were down by 4% year-on-year (YoY) to 11.95 crore cases in Q3 September 2020 as compared to 12.45 crore cases in Q3 September 2019.
Escorts fell 0.31% to Rs 1224.85 on profit taking. The stock had gained 3.42% in the past two sessions.
Escorts' standalone net profit jumped 119.8% to Rs 229.9 crore on 23.9% rise in revenue from operations to Rs 1,639.7 crore in Q2 September 2020 over Q2 September 2019.
Tractor volumes increased by 23.8% at 24,441 units while the construction equipment sales volume declined by 13.1% to 821 units in Q2 September 2020 over Q2 September 2019.
Revenue of the Agri Machinery business stood at Rs 1,322.2 crore (up 32.8% YoY), revenue of the construction equipment business stood at Rs 156.9 crore (down 21.9% YoY) and revenue of the railway products division stood at Rs 160.2 crore (up 26.4% YoY).
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