Pedestrians walk past the National Stock Exchange of India Ltd. (NSE) building in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Nifty Closes At A Record High For Fourth Day In A Row

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Closing Bell: Sensex, Nifty End At Record Highs

Indian equity benchmarks rose to new all-time closing highs led by Reliance Industries, ONGC, ICICI Bank and State Bank of India.

The S&P BSE Sensex rose 0.6 percent or 222 points to 37,888 and the NSE Nifty 50 index climbed 0.53 percent or 61 points to 11,450.

The Nifty rose to an all-time closing high for a fourth session in a row.

If 11,300 is not broken on the Nifty on the downside, rally looks intact, AK Prabhakar, head of research at IDBI Capital Market told BloombergQuint over phone.

Twelve out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Energy index's 1.9 percent gain. On the other hand, the S&P BSE Healthcare index was top loser, down 0.3 percent.

Cipla's Profit Beats Estimates In June Quarter; Shares Rise

Shares of the Mumbai-based drugmaker rose after its profit beat Bloomberg consensus estimates in June quarter.

Key earnings highlights:

  • Net profit up 10.4 percent at Rs 451 crore versus 408.82 crore (YoY); Estimate of Rs 384 crore
  • Consolidated revenue up 11.7 percent at Rs 3,939 crore versus Rs 3,525 crore (YoY); Bloomberg estimate of Rs 4,027 crore
  • Consolidated Ebitda up 12.4 percent at Rs 726.3 crore versus Rs 646.4 crore (YoY)
  • Margin at 18.4 percent versus 18.3 percent (YoY)

BPCL Drops On Report Of Fire At Mumbai Plant

Shares of state-run oil refiner and retailer fell as much as 2.8 percent to Rs 383.15 after fire broke out at its Chembur plant in Mumbai, news agency ANI reported.

Government Gives No Objection For Reducing Stake In IDBI Bank

Shares of the Mumbai-based government-owned lender rose 0.7 percent to Rs 62.40 after government gave its no objection for reducing stake in the bank below 50 percent.

The government also gave no objection to relinquishment of management control and acquisition of controlling stake in IDBI Bank by Life Insurance Corporation of India as promoter, IDBI Bank said in an exchange filing.

BEML Falls As Loss Widens In June Quarter

Shares of the Bengaluru-based defence equipment maker fell as much as 4.78 percent to Rs 827.10 after its loss widened in June quarter.

Key earnings highlights:

  • Revenue down 28 percent at Rs 455 crore versus Rs 632 crore (YoY)
  • Net loss at Rs 160 crore versus loss of Rs 85 crore (YoY)