Sensex, Nifty Log Best Three-Day Rally In Four Months Ahead Of RBI Policy
Closing Bell: Sensex, Nifty Log Best Three-Day Rally In Four Months Ahead Of RBI Policy
Indian equities registered their best three-day rally in over four months ahead of Reserve Bank of India’s policy decision on Thursday.
The S&P BSE Sensex rose 0.87 percent today to end at 41,142 and the NSE Nifty 50 rose 0.91 percent to 12,089.15. The broader markets represented by the NSE Nifty 500 Index rose 1 percent.
The market breadth was tilted in favour of buyers. About 1,005 stocks advanced and 772 shares declined on the National Stock Exchange.
Ten out of 11 sectoral gauges compiled by the NSE ended higher, led by the NSE Nifty Metal Index’s 2.7 percent gain. On the flip side, the NSE Nifty Media Index was the only sectoral loser, down 0.9 percent.
Stocks Reacting To Results Announcement
Sundaram Clayton (Q3, YoY)
- Stock rose as much as 7.5 percent to Rs 2,326.80.
- Revenue down 8.8 percent to Rs 4,990 crore.
- Net profit down 17.3 percent to Rs 88.8 crore.
- Ebitda up 6 percent to Rs 646.5 crore.
- Margin at 13 percent versus 11.1 percent.
Adani Enterprises (Q3, YoY)
- Stock rose as much s 6.1 percent to Rs 239.30.
- Revenue up 5 percent to Rs 10,948.2 crore.
- Net profit up 4.6 times to Rs 426.3 crore.
- Ebitda up 73.4 percent to Rs 804.9 crore.
- Margin at 7.4 percent versus 4.5 percent.
Berger Paints (Q3, YoY)
- Stock swung from a gain of as much as 1.4 percent to fall as much as 1.1 percent.
- Revenue up 5 percent to Rs 1696 crore.
- Net profit up 37 percent to Rs 182 crore.
- Ebitda up 18 percent to Rs 296.5 crore.
- Margin at 17.5 percent versus 15.5 percent.
Cipla Q3 Profit Misses Estimates
Shares of Cipla fell as much as 2.4 percent to Rs 437.50 after the company announced December quarter results.
Key Earnings Highlights (Q3, YoY)
- Revenue up 9.1 percent to Rs 4,371 crore.
- Net profit up 5.7 percent to Rs 351 crore.
- Ebitda up 7.2 percent to Rs 758.4 crore.
- Margin at 17.4 percent versus 17.7% percent.
Fab Four Stocks Of The Day
Caplin Point Laboratories
- Stock rose as much as 20 percent to Rs 324.65 after announcing December quarter results.
Key Earnings Highlights (Q3, YoY)
- Revenue up 43.5 percent to Rs 228.2 crore.
- Net profit up 27.9 percent to Rs 58.6 crore.
- Ebitda up 17.5 percent to Rs 67.8 crore.
- Margin at 29.7 percent versus 36.3 percent.
- Robust Growth Seen on branded generic business in current markets and institutional business in new South American markets.
- Coronavirus situation in China has no impact on operations, as Company's main suppliers in Shijiazhuang have continued production without stoppage.
Indian Energy Exchange
- Stock rose as much as 6.9 percent to Rs 180.
- Nippon India MF acquired 77 lakh shares or 2.57 percent equity at Rs 166.5 each.
- Stock rose as much as 6.9 percent to Rs 3,997.30.
- Reiterated guidance for 40- 50 percent year-on-year growth in specialty chemicals business in 2019-20.
- Indicated a possibility of guidance beat in 2019-20, due to healthy flow of customer orders from overseas markets
- Capex of Rs 240 crore in its specialty chemical business.
- Targets raised between 3,950 to 4,404 from various brokerages.
- Stock rose as much s 7.9 percent to Rs 153.50.
- Fresh longs seen with high open interest of 25 percent.
- Trading volume was six times its 20-day average.
- Board approved merger of its two arm transmission projects and power distribution.
Stocks Moving On Heavy Volumes
Spandana Spoorthy Financial
- Stock rose as much as 8.2 percent to Rs 1,095.
- Trading volume was more than 40 times its 20-day average.
- Stock fell as much as 6.1 percent to Rs 1,414.
- Trading volume was almost 15 times its 20-day average.
- Stock rose as much as 8.6 percent to Rs 35,499.25.
- Trading volume was almost 10 times its 20-day average.
- Stock rose as much as 8 percent to Rs 1,784.95.
- Trading volume was more than seven times its 20-day average.
Global Markets Update: Europe Stocks Gain With U.S. Futures
- European equities turned higher with U.S. index futures and Asian shares as investors took stock of the latest earnings and virus news
- Asian equities notched their first back-to-back daily gain in two weeks, even as quarantines extended to cruise ships in Japan and Hong Kong.
- Contracts on the S&P 500 Index climbed after the underlying gauge jumped the most since August on Tuesday.
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