Stock Market Highlights, May 10: Sensex snaps 3-day losing run, ends 260 pts up; Nifty reclaims 22K

Stock Market Wrap Friday, May 10: RIL, ITC and Airtel led the rally; broader indices - MidCap and SmallCap - outran the benchmark indices and finished 0.8 per cent higher.

3:56 PM

COMMENT:: US tariff actions on Chinese EV companies will attract market attention

"Indian markets largely remained positive; however, a trend of sell-on rally is emerging given domestic premium valuation and election jitters creeping in the minds of investors given lower voter turnout. Financials remained weak on account of signs of contraction in NIMs and the RBI's regulatory actions. FIIs continue to remain sellers given delays in rate cuts, inflationary concerns, moderation in corporate earnings, and premium valuation. Apart from US consumer and inflation data, the possibility of US tariff actions on Chinese EV companies will attract market attention."

 

- Vinod Nair, Head of Research, Geojit Financial Services.

 

3:53 PM

BSE SmallCap Heatmap:: Jupiter Wagons zooms 16%; Intellect Design slumps 14%

3:50 PM

BSE MidCap Heatmap:: Endurance, JSW Energy, PolyCab soar around 7%; Crompton tanks 3%

3:48 PM

Sectoral check:: Auto, FMCG, Metal indices shine; IT whines

3:46 PM

Market check:: Broader indices outrun benchmarks

3:44 PM

Nifty Movers & Shakers:: BPCL soars 4%; TCS down 2%

3:43 PM

Sensex Heatmap:: NTPC, Power Grid lead gains; TCS, Infosys slip

3:41 PM

ALERT:: Nifty reclaims 22,000-mark; settles 98 points higher

3:39 PM

CLOSING BELL: S&P BSE Sensex ends at 72,664, up 260 points

3:26 PM

IPO Update :: Aadhar Housing Finance subscribed 19x so far on final day

3:12 PM

Sebi mandates Investment advisors to share social media details twice a yr

IAASB needs information on accounts, pages, channels, or other social media platforms used by the advisors. Additionally, Advisors are required to provide detailed information regarding various aspects of their operations. Specifically, they must report details about bank accounts established for receiving advisory fees, disclose their office addresses, share information about their shareholding patterns, and provide information about any advertisements they have issued. READ MORE

2:58 PM

March Quarter Results :: Bank of Baroda posts profit of Rs 4,886.5 crore

>> GNPA at 2.9% vs 3.08% Q-o-Q

 

>> NNPA 0.68% vs 0.7% Q-o-Q

>> Loan growth at 13% Y-o-Y & 4% Q-o-Q

 

>> NIM at 3.27% vs 3.10% Q-o-Q

>> Fresh Slippages at Rs 2,860 crore vs Rs 2,360 crore Q-o-Q

2:53 PM

TVS Holdings to buy 80.7% stake in Home Credit India worth Rs 554.06 cr

The Board of Directors at its meeting held on Friday approved the acquisition of 88,09,45,401 equity shares of Home Credit India Finance Pvt Ltd (HCIFPL), amounting to 80.74 per cent stake, from Home Credit India BV, an entity based in the Netherlands and Home Credit International AS, a Czech Republic-based entity, TVS Holdings said in a regulatory filing. READ MORE

2:41 PM

March Quarter Results :: Cipla posts net profit of Rs 939 crore, up 79% YoY

>> Revenue comes at Rs 6,163 crore, up 7.4% YoY

>> Ebitda at Rs 1,316 crore, up 12.1%

>> Ebitda margin at 21.3%, up 80bps YoY

>> Co misses estimates on most parameters

2:30 PM

Strides Pharma rises 3% after US FDA approves Hypocalcemia drug

The rise came after the company announced that the United States Food and Drug Administration (US FDA) has approved its Sevelamer carbonate tablets 800 mg. READ MORE

2:18 PM

ALERT:: Dr Lal PathLabs Q4 net soars 51%; stock zooms 6%

Dr Lal PathLabs today reported 50.8 per cent jump in Q4FY24 consolidated net at Rs 86 crore as against Rs 57 crore in Q4FY23. Revenue from operations increased 11.1 per cent to Rs 545 crore from Rs 491 crore.

2:09 PM

ALERT:: Hang Seng soars 2% in Asian trade; China ends tepid amid US EV sanction worries

1:59 PM

Go Digit IPO sets Rs 258-272 per share price band; bids open on May 15

Go Digit General Insurance IPO to open bids from May 16-17 with a lot size of 55 shares. Here is everything you need to know about the company's IPO details, key dates, prices and allotment. READ MORE

1:47 PM

Polycab India rallies 5%, at new high in a weak market on solid Q4 results

Polycab India's shares hit a fresh high of Rs 6,109.90 rallying 5 per cent on the BSE in Friday’s intra-day trade. This came after the company reported its highest ever yearly and quarterly revenue and profitability in the January-March quarter of fiscal year 2023-24 (Q4FY24). READ MORE

1:35 PM

ALERT:: RVNL emerges lowest bidder for SE Central Railway contract; stock down 1%

Rail Vikas Nigam (RVNL) in an exchange filing today said the company emerged as the Lowest Bidder (L1) from a South East Central Railway work order worth Rs 38.10 crore.

1:23 PM

Numbers 'missing' in CSR data, tracking how funds are used gets difficult

The money that companies spent on corporate social responsibility (CSR) programmes hit a record high in the financial year 2022-23 (FY23) but it is getting difficult to track what they are spending on. READ MORE

1:14 PM

Vijaya Diagnostic extends rally, surges 20% in 3 days on healthy Q4 results

In past one year, the market price of Vijaya has been more than doubled or zoomed 116%, as against 17% rise in the S&P BSE Sensex. READ MORE

1:04 PM

Market check:: Bank Nifty slips into red; private banks drag

chart

12:56 PM

Indegene IPO allotment to be out today: Here's how to check status online

The initial public offering (IPO) of Indegene Ltd garnered strong interest from investors across various categories, with the public offering oversubscribed by over 70 times. READ MORE

12:45 PM

Care Ratings Q4 net surges 35%; stock down 1%

The domestic rating agency had a profit after tax of Rs 25.9 crore in the January-March quarter of the 2022-23 fiscal. READ MORE

12:34 PM

CGCL zooms 8% on healthy AUM growth in Q4; profit surges in double digits

The recent uptick in the stock came after the NBFC reported a profit after tax (PAT) of Rs 82.6 crore for the Q4FY24. READ MORE

12:22 PM

Expert View: Gold may correction from current levels; look to buy ETFs, Gold Bonds

We believe gold prices are poised for minor correction from current levels while we remain bullish over the medium term on supportive fundamentals with staggered buying approach. Investors may choose dynamic asset allocation to the gold related instrument available in market apart from physical ownership of gold. Long term investors may look for Sovereign Gold Bonds to take additional advantage of fixed interest on the investment. Investors looking for medium to short term investment through staggered or lump sum buying may opt for gold ETFs schemes.

 

(Tapan Patel, Fund Manager-commodities, Tata Asset Management)

 

12:09 PM

ALERT:: Polycab Q4 net jumps 29%; stock trades flat

Polycab India Q4 consolidated net profit rose 29.1 per cent to Rs 553.47 crore for the quarter ended March 2024 when compared with Rs 428.70 crore in the corresponding quarter a year ago. Total income also increased by 29 per cent YoY to Rs 5,645.73 crore from Rs 4,375.20 crore.

11:56 AM

SBI stock may gain 22% to hit Rs 1,000-mark, rally may be gradual: Analysts

On the bourses, SBI stock price hit a record high of Rs 839.6 apiece on the BSE, soon after the result announcement on May 9. READ MORE

11:43 AM

This Vedanta Group stock has zoomed 69% since April; m-cap tops Rs 2 trn

At 10:38 am; Hindustan Zinc was trading 7 per cent higher at Rs 488.70 with m-cap of Rs 2.07 trillion, the BSE data shows. READ MORE