Sensex, Nifty Post Biggest Weekly Advance In A Month
Closing Bell: Third Day Of Gains For Indian Stocks
Indian equity markets ended with gains for the third straight day, shrugging off geopolitical tensions and weak global cues.
Both the S&P BSE Sensex and the NSE Nifty 50 index ended higher courtesy a last hour surge, after fluctuating for most of the trading day.
The Sensex ended 0.7% higher at 31,424 while the Nifty advanced 1% to end at 9,580. 36 out of the 50 Nifty constituents ended with gains.
For the week, the Sensex posted gains of 5.7 percent while the Nifty advanced 5.9%.
Stock Reaction: Sun Pharma
The drugmaker has informed the exchanges that it has received approval from the DCGI to initiate clinical trial with Nafamostat in Covid-19 patients.
The company has initiated manufacturing of both the API and the finished product of Nafamostat in India using technology from its Japanese subsidiary Pola Pharma.
The company plans to initiate the trials at the earliest, it said in an exchange filing.
Shares are at the day's high, gaining as much as 4.1% to Rs 477.5, post the announcement.
Earnings Fineprint & Stock Reaction: Symphony Q4FY20
- Revenue up 6% to Rs 249 crore
- Net profit up 10 times to Rs 40 crore
- Ebitda up 48.3% to Rs 43 crore
- Ebitda margin expands to 17.3% from 12.3%
- Low raw material costs aid margin expansion
- Higher other income and exceptional loss in the base quarter contribute to bottomline
- All numbers are consolidated and compared on a year-on-year basis.
Shares are locked in an upper circuit of 10% at Rs 897.35 post the announcement.
All Constituents In The FMCG Index Gain
Vodafone Idea's Clarification
- No such proposal, as reported by the media, being considered by the board as of now
- Constantly evaluate various opportunities to enhance stakeholders' value
- Will comply with disclosure obligations as and when such a proposal is considered by the board.
Source: Exchange Filing
Shares are off the day's high, now trading 11.2% higher at Rs 6.45.