Likely improvement in asset quality in FY17 after sharp deterioration in past years and hopes of good monsoon further recovery in economy may have lifted sentiment that boosted Sensex 1400 points in last four sessions.
Sun Pharma spiked 5 percent after Taro earnings. Its subsidiary's profit declined 24.5 percent but operational performance was strong due to a 16.4 percent fall in RD cost. Operating margin expanded by 400 basis points at 69 percent YoY.
Sun Pharma, Adani Ports, Lupin, Reliance and Infosys are top gainers while ONGC, Axis Bank, NTPC, LT and ITC are losers in the Sensex.
Reliance Industries, Infosys, Sun Pharma, ICICI Bank, Lupin, Adani Ports and SBI gained 1-4 percent while LT, ITC, Axis Bank, ONGC and NTPC fell around a percent.
Sun Pharma, Adani Ports, Lupin, ICICI Bank and SBI are top gainers while ITC, NTPC, LT, ONGC and Tata Motors are losers in the Sensex.
Sun Pharma surged 4 percent after Taro earnings. Its subsidiary's profit declined 24.5 percent but operational performance was strong due to a 16.4 percent fall in RD cost. Operating margin expanded by 400 basis points at 69 percent YoY.
Sun Pharma, Lupin, SBI, Adani Ports and Cipla are top gainers while Tata Motors, ITC, BHEL, NTPC and Bharti Airtel are losers in the Sensex.
Bulls have taken complete control over Dalal Street on Thursday, the expiry day for May Nifty derivative contracts. Value buying in infra and banks helped the Sensex (that rallied more than 500 points intraday) and Nifty end at fresh 2016 closing high.
State Bank of India was up nearly 4 percent ahead of quarterly earnings that will be announced on May 27. ONGC, too, gained 2.7 percent ahead of earnings later today.
The market gathered more steam in afternoon trade with the Nifty reclaiming 8000 level for the first time since November 6, 2015. In fact, it is trading at fresh 2016 high.
Goldman Sachs has upgraded Infosys to buy with a target price of Rs 1,420, implying a 20 percent upside. The brokerage feels the company is in the middle of a multi-year transformation and accelerating growth expanding margins will drive outperformance against peers.
LT, Adani Ports, BHEL, Dr Reddy's Labs and ONGC are top gainers while Sun Pharma, NTPC, HDFC, Tata Steel and Asian Paints are losers in the Sensex.
LT is still up 10 percent while BHEL, ONGC and Bajaj Auto are other gainers in the Sensex. NTPC, Sun Pharma, SBI, Wipro and Cipla are losers in the Sensex. Capital Goods index is up 6 percent.
Equity benchmarks started off Thursday's trade on a positive note, continuing upside for third consecutive session. The Sensex rose 138.25 points to 26019.42 and the Nifty climbed 31.55 points to 7966.45.
ICICI Bank, BHEL, Bajaj Auto, LT and Maruti were top gainers while Cipla lost 5 percent in the Sensex.
On May 27, 2016 Creador I LLC sold 17,60,000 shares of Cholamandalam Investment.
The airline company's net profit zoomed to Rs 397 crore in fourth quarter of FY16 from a loss of Rs 1729 crore in corresponding quarter last fiscal. During the quarter, its fuel expenses fell 25 percent at Rs 999 crore against Rs 1334 crore in year-ago period.
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today. We have Natco Pharma, BPCL, Lupin, Prestige Estates, Sun Pharmaceutical, Jubilant Foodworks, and Novartis.
The joint venture company would be incorporated in India to pursue manufacture of metallic and modular bridges in India and their marketing in neighboring companies/territories agreed upon in the said agreement, subject to the compliances as may be applicable.
Credit Suisse (Singapore) Limited A/C Credit Suisse (Singapore) sold 3,98,737 shares of Jubilant Foodworks at Rs 1,152.56 per share on the NSE.
Citigroup Global Markets Mauritius Private Limited sold 2,688,898 shares of Castrol India at Rs 375.70 per share on the NSE.
The company's Q4 (Jan-March) net profit jumped by 40 percent to Rs 51 crore against Rs 36.6 crore, in the same quarter of last fiscal.
The company's Q4 net profit was down 13.8 percent at Rs 164.2 crore against Rs 190.4 crore, in the same quarter last fiscal.
In an interview to CNBC-TV 18, Gopal Mahadevan, CFO of the company said that Ashok Leyland is currently sufficiently funded. âOur debt equity is at 0.24:1. I do not think debt equity is going to go beyond 0.5:1 or 0.6:1. There is no plan to dilute, there is no plan to raise equity at the moment, " he said.
The company has signed definitive agreement with MAIF Investments India Pte. for sale of 15 percent stake (83,13,800 equity shares) in Gujarat Road and
Infrastructure Company (GRICL) at an aggregate consideration of Rs 1,097,868,850.
The product will be manufactured at company's oral dosage facility at Bangalore and marketed by Strides in the US market.
The order has been awarded by Chief Engineer, Ministry of Road Transport Highways (MoRTH) New Delhi towards rehabilitation and upgradation of NH-209 of Dindigul-Bangalore road in the state of Tamil Nadu.
On May 25, 2016 Ashoka Pte Limited sold 9,49,658 shares of VRL Logistics at Rs 263.86 on the NSE.
VRL Logistics' promoters said yesterday that the proposed regional airline venture would be a "personal investment" of Rs 1,400 crore and would not impact the firm's balance sheet.
CNBC-TV18âs Agam Vakil lists some of the key stocks which were buzzing in trade today.