Employees monitor stocks at a brokerage firm in Mumbai, India (Photographer: Dhiraj Singh/Bloomberg)

Private Banks, Tata Steel Fuel Sensex, Nifty Gains To New Record Close

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Closing Bell: Sensex, Nifty End At Record Highs

Indian equity benchmarks extended gains for the second consecutive trading session and registered their best two-day rally in a week to close at record highs.

The S&P BSE Sensex closed 248 points or 0.63 percent higher at 39,683.29 and the NSE Nifty 50 closed at 11,924.75, up 0.68 percent. The broader market index represented by the NSE Nifty 500 Index closed 0.85 percent higher.

The market breadth was tilted in favour of buyers. About 1,331 stocks gained and 470 shares declined on National Stock Exchange.

Eight out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Realty Index’s 2.18 percent gain. On the flipside, the NSE Nifty Pharma Index was the top sectoral loser, down 0.97 percent.

Colgate Q4 Profit Rises 5%

Colgate reported a net profit of Rs 197.59 crore in the three months ended March, an increase of 4.7 percent from the year ago period, according to its stock exchange filing. The company’s revenue rose 5.7 percent on a yearly basis to Rs 1,146.63 crore during the period.

Stocks Moving On Heavy Volumes

Sundaram-Clayton

  • Stock fell as much as 4.8 percent to Rs 2,571.30.
  • Trading volume was more than 150 times its 20-day average.

Varroc Engineering

  • Stock rose as much as 5.6 percent to Rs 523.70.
  • Trading volume was almost 14 times its 20day average.

Page Industries

  • Stock fell as much as 13.4 percent to Rs 19,007.
  • Trading volume was more than 11 times its 20-day average.

Honeywell Automation India

  • Stock rose as much as 14.8 percent to Rs 27,892.35.
  • Trading volume was more than 10 times its 20-day average.

Suprajit Engineering

  • Stock rose as much as 12.6 percent to Rs 227.
  • Trading volume was more than 10 times its 20-day average.

Narayana Hrudayalaya

  • Stock rose as much as 20 percent to Rs 238.85.
  • Trading volume almost nine times its 20-day average.

GAIL Q4 Profit Declines 33%

GAIL’s net profit in the three months ended March fell 33 percent on a sequential basis to Rs 1,681 crore, according to its stock exchange filing.

Key Earnings Highlights (Q4, QoQ)

  • Revenue down 5.2 percent to Rs 18,763.41 crore.
  • Ebitda down 37 percent to Rs 1,684.08 crore.
  • Margin at 8.9 percent versus 13.5 percent.
  • Exceptional loss of Rs 326 crore due to impairment of investments.
  • Company announces bonus shares in the ratio 1:1.

Shares of GAIL rose 2.1 percent to Rs 348.85 after the results announcement.

BHEL Q4 Profit Rises 50%

Bharat Heavy Electricals Ltd.’s net profit rose 50 percent on a yearly basis to Rs 682.70 during January-March period, according to its stock exchange filing. Its revenue rose 0.8 percent year-on-year to Rs 10,297.16 crore.