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Indian equity markets failed to hold on to their opening gains, ending with minor losses at the start of the truncated expiry week.'
Sentiment in the Indian market remained volatile despite European markets trading positive and futures on the Dow Jones that are trading higher by 520 points.
Both the S&P BSE Sensex and the NSE Nifty 50 ended little changed at 30,609 and 9,029 respectively. The benchmark indices shed over 550 and 165 points respectively from their highest point of the day.
Among sectoral indices, the Nifty Metal index ended as the top gainer while the Nifty I.T. index ended as the top laggard. The FMCG and Auto index too ended with healthy gains.
Market breadth remained mostly even throughout the session. 918 stocks on the National Stock Exchange ended with gains while 856 ended with losses.
Shares fell as much as 2.7% post the announcement to Rs 148.1. It had a 10% intraday swing as it had gained as much as 7.7% in early trade.
Events That Will Make IIFL Up Equity Exposure
The search engine provider reported revenue growth which was flat while net profit grew 21% from the same period last year.
Total traffic for the quarter was flat while total active listings grew 14.1% as compared to last year.
Active paid campaigns saw a growth of 7.1% year-on-year while it remained flat on a sequential basis.
Shares gained as much as 4.66% to Rs 363.7 and is the top performer on the Nifty I.T. index.
Shares fell as much as 2% to Rs 61.55 in today's session.
Revenue for the pharma company rose 81.9% in the fourth quarter while it returned to profitability as compared to a net loss during the same period last year.
The numbers will not be comparable as it also includes financials of its merged entity - Monsanto.
The company had an exceptional loss of Rs 29 crore in the current quarter and a tax reversal of Rs 31 crore in the base quarter.
Shares gained as much as 12.6% to an all-time high of Rs 5,011. This is the biggest single-day gain for the stock since April 2015.
Lets take a look at how benchmark indices across Europe have opened:
The makers of Royal Enfield informed the exchanges on Monday that it will consider a split of the stock during its board meeting on June 12.
The company will also consider its fourth quarter results during the said board meeting.
Shares gained as much as 5.1% to Rs 14,628 and is the third best performing stock on the Nifty 50 index.
The Board approved committee of the company has approved the allotment of 10,000 rated, listed, secured, redeemable NCDs worth Rs 10 lakh each.
The NCDs, amounting to Rs 1,000 crore will be allotted to State Bank of India, at a coupon rate of 8.8% per annum.
The NCDs are proposed to be listed on the Wholesale Debt Market segment of the BSE and the NSE.
Shares were up 2% to Rs 84.5 after gaining as much as 3.5% in early trade.
The Board of Directors of the company have approved the issuance of 3,000 listed, secured, rated, redeemable Non-Convertible debentures.
The 3,000 debentures worth Rs 10 lakh each, aggregate to Rs 300 crore and will be issued on a private placement basis.
The NCDs will be listed on the National stock Exchange and will attract a coupon rate of 7.25% per annum. The tenor for the same is 3 years.
Shares trade little changed, down 0.5% at Rs 211.95. The stock had a four-day gaining streak until closing on Friday.
12.43 lakh shares of the company exchanged hands in a single large deal on the National Stock Exchange, as per Bloomberg data.
Buyers and sellers of this trade, which took place at Rs 541 per share were unknown.
Shares gained as much as 2.2% to Rs 544.4.
Shares gained as much as 7.6% to Rs 158.5.
The Kolkata-based cement and jute goods producer reported revenue and net profit that were largely flat in the fourth quarter.
Lower transportation and fuel costs aided expansion in Ebitda margin to 14.8% from 11.1%.
Realisations grew 4% while Ebitda per tonne rose 31.1% compared to the previous year.
The company said that manufacturing operations of its Jute mill in West Bengal has been disrupted on account of the cyclone AMPHAN, adding that it may take up to 3 months to restore normal production levels.
Shares gained as much as 9.4% to Rs 445. This is the biggest one-day gain for the stock since June 2016.
The private lender's Net Interest Income rose 10.2% compared to the previous year while net profit fell 28.6%.
Provisions for the lender doubled to Rs 118.2 crore from Rs 59 crore in the previous quarter while asset quality also saw deterioration on a sequential basis.
Shares fell 4% to Rs 58. The stock is down for the sixth straight day and is trading at the lowest level since March 2014. This is the longest losing streak for the stock in a month.
Shares fell as much as 4.9% to Rs 44.65, snapping a two-day gaining streak.
Shares now trade at the day's high, up as much as 1.6% to Rs 1,295. The stock earlier fell as much as 3.5% in early trade.
The private lender returned to profitability in the fourth quarter from a net loss in the same period last year.
Asset quality improved on a sequential basis while provisions saw a decline on both year-on-year as well as a quarter-on-quarter basis.
The Board of Directors have also approved raising Rs 5,000 crore through NCDs.
Brokerage House Morgan Stanley has maintained its underweight rating on the stock citing asset quality concerns. It has cut its price target to Rs 13 from Rs 15.
Shares gained as much as 7.1% to Rs 20.2.
The drugmaker has informed the exchanges that it will commence a new phase 3 clinical trial on a combination of two anti-viral drugs - Favipiravir and Umifenovir in hospitalised patients of Moderate Covid-19 in India.
The company has received approval from the Indian drug regulator for the same. It will look to enroll 158 patients of moderate Covid-19 for the trial.
The company added in its press release that its Phase 3 clinical trial for antiviral Favipiravir monotherapy continues for Covid-19 patients in India.
Shares rose to the day's high, gaining as much as 2.4% to Rs 360.4 and are up for the fifth straight day. This is the longest winning streak for the stock in over a month.
The company informed the exchanges about the impact of the Covid-19 pandemic on its fourth quarter results and on the road ahead.
The press release stated that additional revenue that could have been recognised in the fourth quarter in a normal business environment, stood at Rs 30 crore
It has also warned of an impact on its revenue and profitability in Q1FY21 as 20 days of production in April was lost due to the nationwide lockdown.
However, it has expressed confidence that it can recoup the shortfall in the quarters to come.
Shares fell as much as 15% to Rs 3,305, snapping a four-day gaining streak. This is the biggest single-day fall seen in the stock since October 2008.
Nifty Bank: May 28 Expiry
The stock gained as much as 7.1% to Rs 103.5 and is the top performer on the Nifty Metal index.
The company in its commentary post its fourth quarter results, said that its revenue for the month of April was 45% lower compared to last year.
No sale in apparel and general merchandise products has led to an erosion of the company's margins.
The retail player is anticipating significantly large Ebitda declines due to lower sales, lower gross margins and higher cost of operations.
However, it went on to say that the revenue in the first 14 days of May, after relaxations in the lockdown process rose 17% over the first 14 days of April.
Ratings agency Ambit has put the company's rating 'under review' citing a challenging two-year period for the company as well as its retail peers.
Shares are down for the second straight day, falling as much as 5% to Rs 2,350.
Shares gained as much as 4.6 percent to Rs 194.95 and are among the top contributors to the gains on the Nifty 50 index.
The net profit for the company fell 84.8% as compared to last year, mainly led by an exceptional loss of Rs 805 crore. Out of that, Rs 725 crore was an impairment provision for its overseas arm.
The company has also approved raising funds worth Rs 14,000 crore via various methods.
Sales volumes fell 14% while standalone Ebitda per tonne fell 14.9%.
Most brokerages have maintained their buy and hold ratings on the stock, despite cut in price targets.
The stock is the top performer on the Nifty 50 index, gaining as much as 6.6% to Rs 177.05.
15.2 crore shares of the telecom company exchanged hands on the National Stock Exchange in four large trades, as per Bloomberg data.
The first large trade saw 16.69 lakh shares exchange hands while 9.7 crore, 5.1 crore and 12.31 lakh shares exchanged hands in the second, third and fourth large trade respectively.
The deals took place between Rs 561-Rs 572 per share. Buyers and sellers of the large trades remain unknown.
The company's promoter Bharti Telecom had planned to raise $1 billion via a stake sale to become a debt-free company. The stake sale would result in a dilution of 2.75% stake.
The floor price of Rs 558 was at a 6% discount to Friday's closing price.
The stock fell as much as 5.4% to Rs 561.1 and is the worst performing stock on the Nifty 50 index.
Indian equity markets opened the truncated week on a steady note after posting their third straight weekly loss on Friday.
Asian markets are trading with gains while futures on the Dow Jones too are higher by as much as 350 points.
The S&P BSE Sensex opened 0.6% higher at 30,864 while the NSE Nifty 50 opened just below the 9,100 mark at 9,099, up 0.67%. Both the indices posted losses of over 1% during the previous week.
Among the sectoral indices, the Nifty Bank has opened 1.5% higher while the Nifty Auto, FMCG, Metal and PSU Bank index are up 1%.
Market breadth is in favour of the advances. 1,026 stocks on the National Stock Exchange have opened with gains while 302 have opened with losses.
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To know more about the earnings reported after market hours on Friday and on Monday along with key brokerage updates, click here.
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