Banks, Wipro lift indices in fag-end; Sensex up 401 pts, Nifty tops 17,700

CLOSING BELL: The gains in benchmark indices were led by HDFC Life (up 6.4 per cent), Wipro, ICICI Bank, Titan, Axis Bank, SBI, Hero MotoCorp, Grasim, and Adani Ports

4:16 PM

COMMENT:: Strong Q4 earnings by heavyweights revived market sentiment

The positive market sentiment in the domestic market was boosted by strong earnings reported by heavyweights. This led to a reversal in the cautiousness from initial below expectation FYQ4 results. However, the weak global sentiment did raise some concerns midway. But the banking sector played a key role in this upward trend, with sector majors reporting strong earnings.

 

- Vinod Nair, Head of Research at Geojit Financial Services

4:12 PM

Bank Nifty:: Index can rally up to 43,000/ 43,300

The BANK NIFTY index witnessed a strong breakout on the daily chart with a sharp surge in volumes. The index remains in a strong buy mode and any dip should be an ideal opportunity to add on the long positions. The lower-end support is visible at 42,300 which will act as a cushion for the bulls and the potential upside targets are 43,000/43,300.

 

- Kunal Shah, Senior Technical Analyst at LKP Securities
 

4:10 PM

ITC rally has more legs on FMCG biz scale up, high cigarette vols: Analysts

ITC share: The stock has firmly outperformed the benchmark returns by rallying 56 per cent over the last year versus a 3% and 23.5% gain in the Nifty50 and Nifty FMCG indices during this time. READ MORE

4:09 PM

HDFC Life surges 7% as RBI allows HDFC Bank to up stake beyond 50%

RBI's permission to increase stake in subsidiaries puts an end to the overhang on the stock, said Motilal Oswal in a note. READ MORE

4:07 PM

Reliance Industries edges marginally higher post March quarter results

The company reported its highest-ever net profit during the quarter, due to a decline in raw material costs and big savings on tax expenses. READ MORE

4:05 PM

Power Mech surges over 10%, hits record high on winning orders worth Rs 720 crore

The stock price of PMPL has appreciated by 70 per cent from a level of Rs 1,571 touched on February 3 on the BSE. READ MORE

4:03 PM

Wipro gains 2.7% on share buyback plan; board to meet on April 27

In past one year, Wipro has underperformed the market by falling 29 per cent as against a 6 per cent rise in the S&P BSE Sensex. READ MORE

4:01 PM

Ircon Int'l, RVNL surge up to 10%, hit 52-week high on heavy volumes

In past one month, RVNL and Ircon International have rallied 30 per cent each at the bourses, as against nearly 4 per cent rise in the Sensex. READ MORE

3:59 PM

Cyient extends rally on strong Q4 results; stock zooms 52% so far in 2023

The recent stock run-up largely captures growth momentum; expensive valuation limits upside, analysts at ICICI Securities said. READ MORE

3:57 PM

Sun Pharma slips after USFDA notice to Mohali facility

Although the overall impact could be minimal (being an OSD facility), this may lead to stricter scrutiny for other plants, said ICICI Securities. READ MORE

3:55 PM

BSE Smallcap Heatmap:: RVNL, Indiabulls RealEstate zoom up to 13%

3:52 PM

BSE Midcap Heatmap:: IRFC, Endurance, Persisten System gain up to 5%

3:51 PM

Market Breadth was fairly positive; Over 1,900 stocks advanced v/s 1,660 declining stocks on the BSE

3:49 PM

Nifty PSU Bank index soars 2.6%; Bank of Maharashtra, PSB zoom 9%

3:47 PM

Nifty Bank advances 1.2%; Axis, ICICI Bank lead

3:45 PM

Broader indices gain in tandem with benchmark Nifty 50

3:41 PM

Nifty 50 Losers:: Dr.Reddy's, IndusInd Bank, Cipla, Divis Lab slip over 1% each

3:39 PM

Nifty 50 Gainers:: HDFC Life soars over 6%; Tata Consumer surges 5%

3:37 PM

Sensex 30 Heatmap:: 23 Gainers v/s 7 Losers

3:35 PM

CLOSING BELL:: NSE Nifty50 jumps 119 pts, settles at 17,743

3:33 PM

CLOSING BELL:: S&P BSE Sensex rallies 401 pts, ends at 60,056

3:23 PM

Digital firm MapmyIndia's profit up 23% at Rs 107 crore in FY23

The company’s revenue grew around 40 per cent to Rs 281.5 crore from Rs 200.44 crore in FY22. Revenue from automotive and mobility technology increased 34 per cent to Rs 152 crore while the consumer tech and enterprise digital transformation segment grew 48 per cent to Rs 130 crore. READ MORE

3:12 PM

S Chand and Co to acquire stake in government test prep platform ixamBee

ixamBee helps unskilled graduates and undergraduates prepare for government competitive examinations like those conducted by banks, insurance companies, and Railways. READ MORE

3:04 PM

Credit Suisse's net asset outflows topped $68 billion in first quarter

Ailing Swiss bank Credit Suisse reported over 61 billion Swiss francs (over 68 billion) in net asset outflows in the first quarter, when Switzerland's government arranged for its takeover by rival UBS. READ MORE

2:50 PM

Raw material inflation may dent Nestle India's Q1CY23 margins YoY: Analysts

Nestle India Q1CY23 preview: While Indian business is likely to report double-digit revenue growth on a YoY basis, the international business is estimated to grow in mid-single digits, said analysts. READ MORE

2:36 PM

Solar Industries India grabs Rs 212 cr order from ministry of defence

The size of the order is Rs 212 crore, the company said. Homegrown Solar Group is into manufacturing of industrial explosives. READ MORE

2:27 PM

Earnings Alert:: IndusInd Bank Q4 net jumps 46%; stock pares gain

IndusInd  Bank Q4FY23 net profit jumped 45.9 per cent to Rs 2,043.44 crore when compared with Rs 1,400.64 crore in Q4FY22. Total income rose 24.7 per cent YoY to Rs 12,174.31 crore.

2:19 PM

Is Mankind Pharma IPO worth a subscription? Here's what brokerages suggest

In the grey markets, shares of Mankind Pharma enjoyed a premium of Rs 90, which translated to a likely listing price of Rs 1,170 per share on the upper price band. READ MORE

2:07 PM

Power Mech surges 8%, hits record high on winning orders worth Rs 720 crore

The stock price of PMPL has appreciated by 70 per cent from a level of Rs 1,571 touched on February 3 on the BSE. READ MORE

1:53 PM

Earnings Alert:: Bank of Maharashtra Q4 net zooms 136%; stock jumps 6%

Bank of Maharashtra reported a near 2.4-fold jump in Q4 net profit at Rs 840.04 crore for the quarter ended March 2023 when compared with Rs 355.23 crore in the quarter ended March 2022. Total income grew 34.7 per cent YoY to Rs 5,317.27 crore.

The bank's board also approved a proposal to raise up to Rs 7,500 crore via FPO / Rights / QIP issue.