Equity indices traded near the flat line with small gains in morning trade. PSU banks were in demand while FMCG and IT shares corrected. The Nifty hovered at 14,650 level.
At 10:32 IST, the barometer index, the S&P BSE Sensex, was up 71.76 points or 0.15% at 48,789.49. The Nifty 50 index was up 28.5 points or 0.19% at 14,662.90.
In broader market, the S&P BSE Mid-Cap index was up 0.95% while the S&P BSE Small-Cap index was surged 0.91%.
The market breadth was strong. On the BSE, 1735 shares rose and 805 shares fell. A total of 147 shares were unchanged.
Total COVID-19 confirmed cases worldwide stood at 153,193,587 with 3,209,919 global deaths.
India reported 34,47,133 active cases of COVID-19 infection and 222,408 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
India on Monday reported 357,229 fresh Covid-19 cases. With this, the cumulative caseload nears 20.3 million, according to MoHFW. In the past seven days alone, India has added 26,13,415 infections to its tally. As many as 3,438 deaths were reported.
The country now has 3.44 million active cases.
The six most affected states by total cases are Maharashtra (4,771,022), Kerala (1,664,789), Karnataka (1,601,865), Uttar Pradesh (1,313,487), Tamil Nadu (1,207,112), and Delhi (1,194,552).
The Nifty PSU Bank index jumped 3.84% to 2,121.30, snapping its two day losing streak. The index slipped 2.14% in the past two session.
Punjab National Bank (up 6.67%), Indian Bank (up 5.52%), Bank of Baroda (up 4.88%), Union Bank of India (up 4.26%), Canara Bank (up 4.25%), Bank of Maharashtra (up 3.62%), Bank of India (up 3.43%), Indian Overseas Bank (up 2.89%) and Central Bank of India (up 2.15%) were top gainers in PSU segment.
Adani Ports & SEZ (up 0.76%), Adani Total Gas (up 6.32%), Alembic Pharma (up 0.45%), Apollo Pipes (up 1.26%), DCM Shriram (down 1.07%), L&T Infotech (down 1.36%), Morepen Labs (up 0.15%), Procter & Gamble Hygiene & Healthcare (up 0.88%) and RBL Bank (up 1.63%) are among companies that will announce their March quarter results today.
Tata Chemicals slumped 6.5% after the company reported 85% drop in consolidated net profit to Rs 29 crore on a 11% rise in income from operations to Rs 2,636 crore in Q4 FY21 over Q4 FY20. EBITDA declined by 29% to Rs 283 crore in Q4 March 2021 from Rs 400 crore in Q4 March 2020. EBITDA margin was at 11% as on 31 March 2021 as against 17% as on 31 March 2020. Effective working capital management lead to strong cash flow from operations i.e. Rs 2,037 crore in Q4 FY21 as against Rs 1,780 crore in Q4 FY20.
L&T Technology Services (LTTS) slumped 7.56%. The company's consolidated net profit rose 4.49% to Rs 195.30 crore on a 2.8% increase in revenue from operations to Rs 1,440.50 crore in Q4 FY21 over Q3 FY21. In terms of USD, the revenue from operations during Q4 FY21 stood at $197.50 million, registering a growth of 3.9% Q-o-Q (quarter-on-quarter) over Q3 FY21. The EBIT margin was at 16.6% in Q4 FY21, rising 140 bps Q-o-Q from Q3 FY21.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)