Muhurat Trading: Sensex Ends Nearly 296 Points Up; Nifty Above 17,900
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Strong start to Samvat 2078. Indian equity benchmarks advanced, aided by gains in auto, consumer durables and consumer discretionary stocks.
The S&P BSE Sensex index rose nearly 0.5% to 60,067.62. The NSE Nifty 50 Index advanced by similar magnitude to 17,916.80.
The broader indexes outperformed their larger peers with the S&P BSE MidCap index adding nearly 1% and the S&P BSE SmallCap index gaining 1.5%. All the 19 sectoral indexes compiled by BSE Ltd. advanced, with the S&P BSE Auto index rising nearly 1.5%
The market breadth was skewed in favour of bulls. About 2,579 stocks advanced, 527 declined and 158 remained unchanged.
For the week, both Nifty and Sensex rose, snapping the losing streak that lasted for two weeks. NSE Nifty Realty index was the top sectoral performer with nearly 10% gains.
Bata India Advances On Strong Q2
Shares of Bata India Ltd. rose nearly 1.5% in intraday trade to Rs 2,064.9 apiece after the company's net income turned to profit in September quarter
Bata India Q2FY22 (Consolidated, YoY)
Revenue up 67% at Rs 614.12 crore Vs Rs 367.87 crore
Net profit of Rs 37.18 crore Vs Net loss of Rs 44.31
Ebitda up 5.57 times at Rs 119.22 crore Vs Rs 18.14 crore
Margins at 19.4% Vs 4.9%
Of the 16 analysts tracking the company, 10 maintained 'buy', two maintained 'hold' and four maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied a downside of 7.4%
Happiest Minds Jumps The Most In Two Months
Shares of Happiest Minds Technologies Ltd. rose over 4.6% in intraday trade, the biggest single-day gain in two months, to Rs 1,290 apiece.
Trading volume was 26% above the 20-day average volume, for this time of the day.
The company trades at 102 times its estimated earnings per share for the coming year.
Analysts have two 'buy', no 'hold' and no 'sell' recommendations on the stock.
Sensex, Nifty Start Samvat 2078 On A Positive Note
Gujarat State Petronet Slips Despite Q2 Beat
Shares of Gujarat State Petronet Ltd. shed over 3.7% in intraday trade, to Rs 312.8 apiece. The company reported net profit in the September quarter that beat the average analyst estimate, post market hours Wednesday.
Gujarat State Petronet Q2FY22 (Consolidated, YoY)
Net sales up 37% at Rs 4,085.13 crore Vs Rs 2,980.43 crore
Net profit down 20% at Rs 398.39 crore Vs Rs 498.57 crore
Ebitda down 28% at Rs 805.15 crore Vs Rs 1,117.99 crore
Margins at 19.7% Vs 37.5%
Of the 31 analysts tracking the company, 25 maintained 'buy', four maintained 'hold' and two maintaned 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 20%