Sensex ends flat; Nifty up 0.16%; Hero Motocorp gains over 4% post Q4 numbers
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After trading on higher note for entire day, the Indian markets mostly ended flat on Thursday.
Sensex closed at 30,250.98 up by 2 points or 0.01%, while Nifty finished at 9,422.40 above 15 points or 0.16%.
Top gainers on BSE involved Hero Motocorp at Rs 3463.80 per piece above 4.26%, followed by Bajaj Auto at Rs 2990 per piece (3.12%), Adani Ports at Rs 358.95 per piece (2.28%), State Bank of India at Rs 298 per piece (1.15%) and ITC at Rs 276.65 per piece (1%).
Among losers were Bharti Airtel at Rs 364.45 per piece down 2.21%, followed by Gail India at Rs 408.70 per piece (2.14%), ONGC at Rs 184.20 per piece (1.94%), Hindustan Unilever at Rs 978.15 per piece (1.78%) and Axis Bank at Rs 517.10 per piece (1.69%).
Gujarat Pipavav Port shares soared by nearly 4% after reporting 28% rise in standalone net profit for the fourth quarter ended March 31, 2017, result.
At 1424 hours, shares of the company were trading at Rs 165.60 per piece on BSE, above Rs 5 or 3.84%.
In this Q4, the company posted net profit of Rs 66.19 crore, registering growth of 28.10% year-on-year (YoY) and 2.55% quarter-on-quarter (QoQ).
Total income was at Rs 174.57 crore, increasing by 8.44% yoy and 3.19% qoq.
Due to liquor ban in various regions of India, United Breweries on Thursday said that it has shut down its operation in Patna.
In a BSE filing, United Breweries said, "This is to inform that consequent to imposition of total prohibition effective April 2017, the commercial production at the company's brewery located at Kopakalan, Nabatpur, District Patna has been continued."
Earlier in the month of April 2017, the state government had imposed ban on sale and consumption of alcohol beverages in Bihar and permitted manufacture of alcoholic beverages for export out of the state.
However, Patna High Court has struck down the Bihar government's decision. The Bihar government has challenged such decision of Patna High Court in Supreme Court which is pending.
Share price of United Breweries were trading at Rs 818.35 per piece on BSE, above Rs 15 or 1.91%.
Share price of Havells India surged by nearly 4% despite of registering 74% decline in standalone net profit for fourth quarter ended March 31,2017 result.
At 1258 hours, shares of Havells climbed over Rs 17 or 3.54% at Rs 518.80 per piece - also a 52-week high.
The company posted net profit of Rs 94.7 crore, declining by 74.10% year-on-year (YoY) and 38.09% quarter-on-quarter (QoQ).
However, total income stood at Rs 1,873.44 crore, increasing by 17.22% yoy and 13.49% qoq.
Top gainers on BSE involved Tata Steel trading at Rs 444.10 per piece up 1.42%, Mahindra & Mahindra at Rs 1396 per piece (1.40%), Lupin at Rs 1272.80 per piece, ITC at Rs 276.35 per piece (0.89%), ONGC at Rs 189.30 per piece, Cipla at Rs 564.05 per piece (0.77%) and Axis Bank at Rs 529.60 per piece (0.68%).
Among losers were Bharti Airtel at Rs 365.70 per piece down 1.88%, followed by Hindustan Unilever at Rs 984.75 per piece (1.12%), HDFC at Rs 1567 per piece (0.37%), NTPC at Rs 161.70 per piece (0.34%), Hero Motocorp at Rs 3312 per piece (0.31%) and Tata Motors at Rs 431.60 per piece (0.10%).
HCL Technologies on Thursday said it has witnessed nearly 28% growth in its consolidated net profit for the fourth quarter ended March 31, 2017.
The company reported consolidated net profit of Rs 2,475.27 crore, a rise of 27.67% from Rs 1,938.66 crore in the corresponding period of the previous year.
However, HCL Tech reduced revenue guidance in constant currency for FY18.
Stocks in focus will be:
Infosys: The IT-giant in an IANS report said that it plans to soon "fire" an unspecified number of its techies for "non-performance", over a week after announcing on May 2 that it would hire 10,000 Americans in the US, said the global software major on Wednesday.
"A continued low feedback on performance could lead to certain performance actions, including separation of an individual," said the city-based company in a statement.
Hero MotoCorp: Two-wheeler major Hero MotoCorp on Wednesday announced its financial result for the quarter ended on March 31. The company's profit after tax dropped by 13.8% to Rs 717.75 crore in Q4FY17 as against Rs 833.29 crore during corresponding quarter last year.
Zee Entertainment: Media and Entertainment major Zee Entertainment on Wednesday announced its financial result for the quarter ended on March 31. The company reported a net profit of Rs 1,514.22 crore, a jump of 568.5% as against Rs 226.5 crore during the same period last year.
Tata Motors: The company on Wednesday said that it's overall global sales in April declined by 4% as its sales, including Jaguar Land Rover (JLR), stood at 73,691 units.
The global sales of its commercial vehicles and Tata Daewoo range in April were down 36% over April 2016 and stood at 18,844 units, the company said in a release.
State Bank of India: The bank on Wednesday revised service charges on various cash transactions for its customers. The bank said that now customers will be charged Rs 25 per transaction on every cash withdrawal from ATMs. The bank will also charge on issue of ATM cards except RuPay, henceforth.
Biocon: In BSE filing, the company said that it has received observations from US health regulator related to issues over manufacturing practices.
Aurionpro Solutions: The company's Board of Directors at its meeting held on 09 May 2017 has approved the demerger plan of some of its non-core business divisions into its wholly owned subsidiaryTrejhara Solutions.
Zydus Cadila: The drug maker said it has received a favourable judgement from a US federal court in a patent infringement case paving the way for company to launch its generic product in the American market.
Indian markets may open between flat and positive as its global cues were boosted by US inventories and corporate earnings.
On Wednesday, Sensex and Nifty both touched an all time-high. BSE closed above 314 points or 1.05% at 30,248.17, while NSE finished at new high of 9,407.30 up 90 points or 0.97%.
Sameet Chavan Chief Analyst- Technical & Derivatives, Angel Broking said, "Finally, after two weeks of consolidation, the Nifty reached yet another milestone and has managed to close almost at the highest point ever. Now, if we meticulously observe the daily chart, a ‘Bullish Flag’ pattern is clearly visible."
Investors bought shares of many sectors like consumer goods, fertilisers and auto after when the India Meteorological Department (IMD) on Tuesday said that India will receive higher monsoon rainfall than previous forecast.