Key indices surged higher in opening on strong buying in index stocks. At 9:19 IST, the barometer index, the S&P BSE Sensex, was up 362.49 points or 0.88% at 41,342.11. The Nifty 50 index was up 108.40 points or 0.88% at 12,139.90.
The S&P BSE Mid-Cap index was up 0.68%. The S&P BSE Small-Cap index was up 0.64%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 696 shares rose and 200 shares fell. A total of 32 shares were unchanged.
Q3 earnings impact:
Among stocks, Petronet LNG fell 0.89%. Petronet LNG reported 15.76% rise in consolidated net profit to Rs 679.22 crore on 11.85% fall in total income to Rs 8998.43 crore in Q3 December 2019 over Q3 December 2018.
Bombay Dyeing & Manufacturing Company rose 2.48%. Bombay Dyeing & Manufacturing Company reported a consolidated net profit of Rs 162.42 crore against a net loss of Rs 190.11 crore on 9.55% fall in total income to Rs 389.66 crore in Q3 December 2019 over Q3 December 2018.
Chalet Hotels advanced 4.18%. Chalet Hotels reported 133.87% rise in consolidated net profit to Rs 33.28 crore on 11.64% rise in total income to Rs 284.73 crore in Q3 December 2019 over Q3 December 2018. In line with its strategy to optimally utilize available land, the company has embarked on 2 commercial projects with an area of around 1.1 mn sqft in Mumbai and Bengaluru adjoining its existing hotels.
Kalpataru Power Transmission was up 0.77%. Kalpataru Power Transmission reported 16.51% rise in consolidated net profit to Rs 127.00 crore on 15.09% rise in total income to Rs 3172.00 crore in Q3 December 2019 over Q3 December 2018. The company's consolidated order book stood at Rs 25,359 crores as of 31 Dec 2019.
Stocks in news:
Cipla gained 0.62%. Cipla said its wholly owned subsidiary Cipla Medpro South Africa and South Africa's third largest pharmaceutical company in the private sector, concluded an exclusive agreement securing originator and authorised generic brands of an atypical anti-psychotic drug, Quetiapine.
Infosys added 0.07%. Infosys announced a definitive agreement to acquire Simplus, one of the fastest growing Salesforce Platinum Partners in the USA and Australia. Simplus is a recognized leader and advisor in cloud consulting, implementation, data integration, change management and training services for Salesforce Quote-to-Cash applications.
CARE Ratings was up 2.60%. CARE Ratings said the company has received a show-cause notice from SEBI, calling upon the reasons why the penalty amount should not be enhanced. Earlier on 20 December 2018, and 31 December 31 2019, the company was issued a notice and imposition of penalty of Rs 25 lakhs by SEBI in the matter of credit rating assigned to one of the company's customers and its subsidiaries.
Cadila Healthcare fell 0.86%. Cadila Healthcare said the company's topical manufacturing facility located at Ahmedabad, India has received an Establishment Inspection Report (EIR) from the USFDA signifying the successful closure of the audit. The topical manufacturing facility had completed the USFDA audit from 16 to 20 December 2019 with zero 483 observations.
Capacite Infraprojects advanced 1.26%. Capacite Infraprojects informed that the company has received contract worth Rs 350.17 crore (excluding GST) from marquee private sector client in Mumbai under its Commercial and Institutional Portfolio.
GMR Infrastructure gained 1.08%. GMR Infrastructure said that its subsidiary, GMR Airports, has bagged the concession commencement date to design, construct, finance, operate and maintain the new international airport of Heraklion at Crete, Greece. GMR Airports, along with its Greek partner GEK TERNA, had signed the concession agreement in February 2019.
Overseas, Asian stocks were trading mixed on Tuesday as investors tried to judge how quickly China's factories could return to work as the coronavirus continues to spread and deaths mount.
In US, the Nasdaq Composite and S&P 500 clinched closing records on Monday as investors took heart in mostly solid US fourth-quarter corporate earnings and looked beyond concerns about the coronavirus outbreak's potential disruption to global supply chains.
Expectations for the Federal Reserve to prop up the economy with easy financial conditions if the coronavirus spills over into the US, also helped to support stocks.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)