By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Indian indices ended higher after erasing some intraday gains for the third consecutive day. The gains were led majorly by the Pharma sector.
Nifty went up by 0.50% or 56.10 points and closed at 11,270.15, while S&P BSE Sensex went up by 0.37% or 141.51 points and closed at 38,182.08.
Around 1723 shares advanced, 166 shares remained unchanged, while 996 shares declined in today’s trading session.
Cipla (9.48%), L&T (4.84%), M&M (4.90%), Tata Motors (3.57%) and Sun Pharma (3.45%) were among the top Nifty gainers while Eicher Motors (2.19%), Asian Paints (1.23%), Maruti Suzuki (1.20%), BPCI (1.17%), and Reliance Industries (1.16%) were among top Nifty losers.
All the sectoral indices including Pharma, IT, FMCG, Bank, and Auto ended in the green. BSE Smallcap went up by 1.47% while BSE Midcap went up by 1.42%.
Mixed Global Market Cues
Buying was seen in the European market which traded positive during the session. FTSE 100 went up by 0.53% while FTSE MIB went up by 0.56%. However, the Asian markets traded negative during today’s trading session as Nasdaq went down by 0.87%, Nikkei 225 went down by 0.39%, while Hang Seng declined by 0.63%.
The company reported a robust 245% year-on-year growth in its consolidated net profit for the first quarter of the FY21 while the company’s revenue from operation during this period went up by 42%. The stocks of the company went up by 7.25% and traded at Rs. 2,098.55.
Cochin Shipyard Limited
The stocks of the company went up by 3.60% and traded at Rs.343.80 despite a decline of 65% in its year-on-year consolidated net profit during the first quarter of the FY21. The company’s revenue during the period went down by 55%.
Mahindra and Mahindra
Earning of Mahindra and Mahindra during the first quarter of the FY21 went up due to strong performance in the tractor business. The stocks of the company went up by 4.90% and traded at Rs.629.90 in today’s trading session.
Divi’s Laboratories Limited
The stocks of Divi’s Laboratories went up by 12.06% and traded at Rs. 3,120.75 after the company reported strong sales and minimum COVID-19 impact. The consolidated net profit of the company went up by 81% during the first quarter of the FY21.
The company reported strong earnings during the first quarter of the FY21 which surpassed the Street’s expectations. The consolidated net profit of the company went up by 26.6% for the quarter ended June 2020. The stocks of the company went up by 9.48% and traded at Rs. 797.70.
The net profit of the company went up by 1.17% during the first quarter of the FY21, though the revenue from operations during the period fell down by 25.79%. The stocks of the company surged by 20% and traded at Rs.308.75.
Tejas Networks Limited
Tejas Networks bagged a purchase order worth Rs. 66 crore from L&T Construction. The supply of the order that was received by the company during the last quarter has started in this quarter. The stocks of the company went up by 4.93% and traded at Rs.63.85.
Indian rupee ended higher in today’s session at Rs. 74.89 against the US Dollar amid buying seen in the domestic equity markets.
You might also like
More from Business
Influencer Marketing Startup – ClanConnect.ai’s Parent firm ‘Irida Interactive’ raises 5 crores in seed round
Investment was led by Venture Catalyst with participation from Managing Director of Forrest Essentials, Founders of Droom.in, and Jio Haptik Mumbai, …
• Angel Broking allocates 58,82,352 equity shared at a upper price band of Rs 306 per equity shares • Offer to …
Weak Dollar elevates Gold and Base Metal prices; Falling U.S. Crude inventory pushes Oil prices higher
By: Mr. Prathamesh Mallya, AVP- Research, Non-Agri Commodities and Currencies, Angel Broking Ltd. A depreciating U.S. Dollar supported the Spot Gold …