Among the sectors, except auto all other sectors are witnessing buying led by metal, pharma, bank, infra, energy, IT and FMCG.
Market Close: Late buying helped benchmark indices to close the first day of May series near day’s high level with Nifty finished above 11,750 mark.
At close, the Sensex was up 336.47 points at 39067.33, while Nifty was up 112.90 points at 11754.70. About 1085 shares have advanced, 1410 shares declined, and 153 shares are unchanged.
Tata Steel, BPCL, GAIL, ICICI Bank and JSW Steel were the top gainers on the Nifty, while losers include Tata Motors, Bajaj Auto, Grasim Industries, Dr Reddy’s Labs and Bharti Airtel.
Among the sectors, except auto all other sectors ended in green led by metal, bank, energy, IT, pharma and FMCG.
Carborundum Universal Q4: Consolidated net profit fell 6% at Rs 61.9 crore, revenue up 8% at Rs 702 crore.
Mahindra Lifespace JV to invest Rs 1,000cr in Chennai project: Mahindra Industrial Park Chennai (MIPCL), an indirect subsidiary of the company and a joint venture between Mahindra World City Developers and Sumitomo Corporation of Japan, announced the inauguration of ORIGINS, Industrial Cluster on the NH16 corridor near Ponneri, Chennai.
HDFC Life Insurance Company Q4 earnings: Net profit rose 5% at Rs 364 crore and net premium income up 15% at Rs 10,247 crore.
Piramal Enterprises Q4: Consolidated adjusted profit at Rs 457 crore, revenue up 23% at Rs 3,680 crore. Board declares final dividend of Rs 28 per share.
Buzzing: Shares of software firm HCL Technologies rallied 3 percent to hit a record high of Rs 1,168 on April 26 after company expanded its US operations.
Rupee Update:
Atul Q4 result: Net profit up 8.6% at Rs 109 crore, revenue up 15.5% at Rs 1,000.8 crore. EBITDA up 32.6% at Rs 192.8 crore and margin at 19.3%, YoY.
Market Update: Benchmark indices are trading at day’s high level with Nifty around 11,750 mark.
The Sensex is up 325.85 points at 39056.71, while Nifty is up 100.70 points at 11742.50. About 1015 shares have advanced, 1294 shares declined, and 145 shares are unchanged.
MCX Shares Climb 5% on Strong Earnings Growth in Q4
Multi Commodity Exchange of India shares rallied 5 percent intraday after healthy earnings growth in quarter ended March 2019.
Profit during the quarter increased 45 percent sequentially to Rs 61 crore.
Motilal Oswal, which has buy call on the stock with a target price at Rs 950 (implying 19 percent potential upside), said these numbers are significantly ahead of its estimate of Rs 34.8 crore, mainly due to the recognition of a minimum alternate tax (MAT) credit of Rs 20.6 crore for the year.
