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Indian equity markets ended the first trading day of the week with gains, despite giving up most of them during the second half of the session.
The S&P BSE Sensex ended 0.24% higher at 34,370. The index 550 points from the highest point of the day. The NSE Nifty 50 index too fell 160 points from its day's high, to end 0.25% higher at 10,167.
With gains in today's session, benchmark indices have now advanced in eight out of the last 10 trading sessions.
Among sectoral indices, the Nifty Bank index fell 600 points from its day's high to end 0.9% higher.
Sectoral laggards included Nifty Pharma (down 1.45%), Nifty PSU Bank (down 1.37%), Nifty Media (down 1.6%), Nifty Metal (ends with negative bias), Nifty FMCG and Nifty Auto index, all of whom gave up gains made in the first half of trade.
The Nifty I.T. index emerged as the top performer, ending 1.8% higher.
Market breadth remained in favour of the advances as the broader markets outperformed. 1,264 stocks on the NSE ended with gains while 574 posted losses.
Shares are trading 1% lower at Rs 315.3, snapping a two-day gaining streak.
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Shares gave up all of their gains to decline as much as 5.6% to Rs 16,200, post the announcement.
Shares are off the day's high after gaining as much as 7.5% in early trade. The stock now trades 4.2% higher at Rs 245.75.
Shares gained as much as 19% - the biggest single-day gain on record to Rs 92.6, the highest level since January this year.
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Shares are significantly off the day's high, after gaining as much as 11.6% in early trade. The stock trades 1.4% higher at Rs 95.1.
India is considering a new category of Alternate Investment Fund (AIF) which will focus on acquiring stressed assets from banks and NBFC's, Bloomberg News reports citing people with knowledge of the matter.
The fund will be allowed to buy stressed assets directly from banks and NBFC's, a move aimed at resolving some of the highest bad debt in the world.
Sources told Bloomberg News that the discussions for the same are at a very preliminary stage and the aim is to supplement the efforts of Asset Reconstruction Companies (ARCs) in reducing the bad loans.
A Finance Ministry spokesperson was unavailable for a comment to the story.
Let's take a look at how benchmark indices across Europe have opened:
Shares fell as much as 3.4% to Rs 730 and are down for the second straight day.
The two-wheeler manufacturer launched an integrated online sales platform called eSHOP.
The platform will allow buying of vehicles through the company's website.
It will also allow for a retail finance option during the payment process.
The company also said that customers can pre-book service appointments by using the Hero App - a part of their digital initiatives to ensure social distancing.
Shares are trading at the day's high - up 4.24% at Rs 2,439. Shares are up for the third straight day.
Shares are off the day's high after gaining as much as 10%. The stock now trades 3.5% higher at Rs 45.90 and is up for seven out of the last eight trading sessions.
The Passenger Vehicle and Tractor-maker has allotted 5,000 rated, listed, unsecured and redeemable NCDs worth Rs 10 lakh each after the successful bidding process.
The NCDs, aggregating to Rs 500 crore will have a coupon rate of 6.19% and are allotted on a private placement basis.
These NCDs are proposed to be listed on the Wholesale Debt Market segment of the Bombay Stock Exchange, the company said.
Shares are off the day's high, after gaining as much as 2% to Rs 494.15.
Shares gained as much as 2.9% to Rs 335.85. The stock has gained only twice in the last six trading sessions.
The drugmaker has informed the exchanges that as a precautionary measure, it has issued a voluntary recall of one batch of Metformin Extended Release Tablets of 500 mg, due to the detection of N-Nitrosodimethylamine (NDMA).
The said drug is indicated as an adjunct to diet and exercise to improve blood glucose control in adults suffering from type 2 diabetes mellitus.
Shares are near the day's high, gaining as much as 4.9% to Rs 33.35. The stock is up for the seventh straight day, its longest winning streak since January 2018.
The company in its Covid-19 update has informed that the fall in crude prices led to a significant inventory write-down of Rs 1,456 crore.
The refiner is operating at 60% of its total capacity in the current scenario.
Lower demand and high inventories have led to a rise in short-term borrowings. The company expects the borrowings to normalise once international prices of crude stabilise.
Shares gained as much as 14.2% - its biggest one-day surge since January this year to Rs 72.05. The stock is up for the third straight day and has gained over 25% during this period.
The drugmaker reported a net profit growth of 33% aided by higher other income. Other income was boosted by a forex gain of Rs 57 crore this quarter.
The topline grew 10% while ebitda saw a growth of 7% compared to the previous year.
Ebitda margins remained largely flat at 32% from 32.8% year-on-year.
Shares fell as much as 5% to Rs 2,337 and are the worst performers on the Nifty Pharma index.
The stock trades 0.75% higher at Rs 389.8. It is trading higher for seven out of the last eight trading sessions.
The battery-maker reported a 20% decline in net profit for the quarter ending March on a year-on-year basis.
The company's topline too saw a de-growth of 21% owing to a decline seen in both of its segments.
Both storage batteries and life insurance business dragged during the quarter due to slowdown in the auto space and the impact of Covid-19.
Ebitda fell 27.6% while margins declined to 13.2% from 14.4% in the previous year.
Shares fell as much as 8.6% - the most in nearly three months to Rs 158.30.
The infrastructure conglomerate did not give a guidance for FY21 after missing its FY20 order inflow guidance.
Consolidated order book of the company rose 4% while order inflow during the quarter ended March increased 5%.
Hydrocarbon, I.T. and Technology along with Financial Services division saw an increase in revenue while the rest of the segments saw a de-growth.
Ebitda was little changed while margins declined to 11.6% from 12.2% owing to higher employee expenses.
Brokerage firms like Jefferies, JPMorgan and Centrum have retained their bullish ratings on the stock, betting on the progress towards normalisation of operations.
Shares gained as much as 4.2% to Rs 995, to their highest level in nearly three months.
52.15 lakh shares of the power company exchanged hands in a single large trade, according to Bloomberg data.
Buyers and sellers in the trade remain unknown. The deal took place during the pre-market block window.
Shares gained as much as 7.2% to Rs 47.5 and are trading at the highest level in nearly three months.
Shares of the private lender gained after the promoters of the bank informed that they will acquire shares from the open market in India, within the overall regulatory prescribed manner.
IndusInd International Holdings and IndusInd Ltd., the promoters of the bank currently hold 14.68% of the paid-up share capital of the bank, the bank said in a statement.
Promoters are allowed to increase stake in the bank up to 15%.
The stock gained as much as 7.97% to Rs 456, post the announcement and is up for the second straight day. It is also trading at its highest level in over a month.
It is also the top performing stock on the Nifty 50 index.
Indian equity markets continued from where they left off last week, opening higher for the ninth out of the last 10 trading session.
The S&P BSE Sensex opened 1.62% higher at 34,841, while the NSE Nifty 50 index opened at 10,326 - gaining 1.82%. All Nifty 50 constituents barring Vedanta, opened with gains.
Both benchmark indices remain at a three-month high.
Among the sectoral indices, the PSU Banking index opened 4.2% higher, led by gains in State Bank of India. Other indices like Nifty Bank, Nifty Realty and Nifty Metal gained 2% each.
Market breadth remained firmly in favour of the advances. 1,312 stocks on the NSE opened with gains while 151 traded with losses.
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