Sensex, Nifty End At Two-Month High Led By IndusInd Bank, M&M
Indian equity benchmarks rose to their highest level in two months led by IndusInd Bank, Mahindra & Mahindra, Reliance Industries and Kotak Mahindra Bank.
The S&P BSE Sensex rose 0.1 percent or 35.19 points to 34,450.77 and the NSE Nifty 50 index gained 0.2 percent or 20.65 points to 10,584.70.
Fifteen out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Realty index's 1.8 percent gain. On the flipside, the S&P BSE Metal index was the top sectoral loser, down 0.9 percent.
The mid- and small-cap shares outperformed their larger counterparts as the S&P BSE MidCap and S&P BSE SmallCap indices rose 0.5 percent each.
Coal India May Plan Rs 6,500 Crore Gratuity Payout
- Coal India likely to plan Rs 6,500 crore provision for gratuity payout. Stock down 0.7 percent.
Fab Four Stocks Of The Day
Sasken Tech: The Bangalore-based software developer rose as much as 20 percent to record high of Rs 904 after it reported strong March quarter earnings.
- Revenues down 2.4 percent at Rs 128.7 crore versus Rs 131.9 crore.
- Net profit up 27.5 percent at Rs 26 crore versus Rs 20.4 crore.
- EBIT up 31 percent at Rs 21.5 crore versus Rs 16.4 crore.
- Margins at 16.7 percent versus 12.4 percent.
Indian Hume Pipe: The Mumbai-based pipe maker rose as much as 9.55 percent, the most in nearly a month, to Rs 375 after it bagged Rs 578.50 crore order from Madhya Pradesh Jal Nigam Maryadit.
Unichem Labs: The Mumbai-based drug maker rose as much as 8.7 percent, the most in over three months, to Rs 283.10 after the U.S. FDA completed inspection of its Ghaziabad unit without any observations.
Minda Corp: The Noida-based electrical equipment maker rose as much as 18 percent to Rs 207.60. As many as 23.6 lakh shares or 1.1 percent equity changed hands in a block, Bloomberg data showed.
Mahindra & Mahindra Surges To Record High
Shares of the Mumbai-based country's largest utility vehicle maker rose as much as 4.29 percent to record high of Rs 833.
Rupee Continues To Weaken Against U.S. Dollar; Hits Fresh 13-Month low
Indian rupee depreciated further against the U.S. dollar.
The local unit fell as much as 0.47 percent to 66.41, its lowest level against the dollar since March 10, 2017.