Employees work at their desks in a brokerage firm in Mumbai. (Photographer: Prashanth Vishwanathan/Bloomberg)

Sensex, Nifty Halt Three-Day Winning Streak Dragged By Banks

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Closing Bell

Indian equity benchmarks snapped their three-day winning streak dragged by financial heavyweights like ICICI Bank, State Bank of India, HDFC and Kotak Mahindra Bank.

The S&P BSE Sensex fell 0.61 percent or 216 points to 34,949 and the NSE Nifty 50 index declined 0.52 percent or 55 points to 10,633.

Eleven out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Bankex index's 1.6 percent drop. On the other hand, the S&P BSE Oil & Gas index was the top gainer, up 0.5 percent.

The mid- and small-cap shares ended in line with their larger peers as the S&P BSE MidCap index fell 0.44 percent and the S&P BSE SmallCap index declined 0.26 percent.

Sensex, Nifty Halt Three-Day Winning Streak Dragged By Banks

Coal India Falls After Profit Misses Estimates In March Quarter

Shares of the government-owned coal miner fell as much as 2.91 percent to Rs 276 after its profit missed Bloomberg consensus estimates in March quarter.

Key earnings highlights:

  • Net profit down 52 percent at Rs 1,295.22 crore versus Rs 2,718.75 crore (YoY); Estimate of Rs 4,341 crore
  • Revenues up 8.3 percent at Rs 26,909 crore versus Rs 24,851 crore (YoY); Estimate of Rs 23,243 crore
  • Ebitda at Rs 195.5 crore versus Rs 5,069 crore (YoY)
  • Margin at 0.72 percent versus 21.80 percent
  • Employee cost at Rs 16,653.86 crore that is 62 percent of the revenue

Fab Four Stocks Of The Day

BHEL: The Delhi-based heavy electrical equipment maker rose over 5 percent to Rs 83.30 after its profit met Bloomberg consensus estimates in March quarter.

Key earnings highlights:

  • Net profit up 2.12 times at Rs 457 crore versus Rs 215.5 crore (YoY); Estimate of Rs 462 crore
  • Revenue up 3.7 percent at Rs 10,140 crore versus Rs 9,779 crore (YoY); Estimate of Rs 10,550 crore
  • Margin at 12.1 percent versus 5.8 percent (YoY)
  • EBITDA up 2.3 times at Rs 1,231.5 crore versus Rs 568.7 crore (YoY)

Reliance Communications: The Anil Ambani-led telecom operator rose as much as 9.80 percent to Rs 16.80 after it informed NCLAT that it has reached an agreement settlement with minority shareholders.

Vista Pharma: The Hyderabad-based drugmaker was locked in a 10 percent upper circuit at Rs 36.90 after it signed an agreement to acquire a complex ANDA for Uro Care. The U.S. market for this brand is $1.3 billion as per the latest IMS data.

ITDC: The Delhi-based state-run tourism service provider rose 7 percent to Rs 429. Trading volume was 5.2 times its 20-day average.

Stocks Moving On Heavy Volumes

Caplin Point Labs: The Chennai-based drugmaker fell 9 percent to Rs 541.40. Trading volume was 25.3 times its 20-day average.

Vardhman Textiles: The Ludhiana-based textile manufacturer fell 0.5 percent to Rs 1,247. trading volume was 32.2 times its 20-day average.

General Insurance Corporation: The Mumbai-based general insurer rose 3 percent to Rs 750. Trading volume was 6.2 times its 20-day average.

ITDC: The Delhi-based state-run tourism service provider rose 7 percent to Rs 429. Trading volume was 5.2 times its 20-day average.

M&M Rises After March Quarter Profit Jumps 50%

Shares of the country's largest utility vehicle maker rose as much as 2 percent to Rs 868 after it reported March quarter earnings.

Key earnings highlights of M&M and Mahindra Vehicle Manufacturers combined:

  • Combined net profit rose 50 percent to Rs 1,155 crore versus Rs 770 crore (YoY)
  • Combined revenue up 25.6 percent at Rs 13,189 crore versus Rs 10,499 crore (YoY)
  • Ebitda at Rs 1,995 crore versus Rs 1,171 crore (YoY)
  • Margin at 15.1 percent versus 11.2 percent (YoY)

Nifty Auto Index Poised For Worst May In Six Years

The NSE Nifty Auto Index, the third worst performer among sectoral gauges so far this month, is set for its poorest May in six years.