Sensex, Nifty Register Best Week In Nearly Two Months
The Bombay Stock Exchange (BSE), right, stands on Dalal street in Mumbai (Photographer: Adeel Halim/Bloomberg)

Sensex, Nifty Register Best Week In Nearly Two Months

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Closing Bell: Sensex, Nifty Halt Weekly Rout

Indian equity benchmarks halted their weekly rout and gained the most in nearly two months.

The S&P BSE Sensex closed over 1.2 percent higher this week to end at 37,930.77 and the NSE Nifty 50 ended at 11,407, down 1.1 percent. The broader market index represented by the NSE Nifty 500 Index closed 0.43 percent higher during the period. The benchmark indices had had declined during the last three weeks.

The benchmark indices extended gains for the second consecutive trading session. Today, the 31-share index and the 50-stock index closed higher by 1.44 percent and 1.33 percent respectively. The 500-share gauge rose 1.17 percent.

The market breadth was tilted in favour of buyers. About 1,029 stocks advanced and 723 shares declined on National Stock Exchange.

Eight out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Media Index’s 3.5 percent advance. On the flipside, the NSE Nifty Pharma Index was the top sectoral loser, down 1.5 percent.

Dr. Reddy’s Laboratories Q4 Profit Up 44%; Shares Swing

Shares of Dr. Reddy’s laboratories fluctuated between gains and losses to trade 0.1 percent at Rs 2,798.15 after the company announced its March quarter results.

Key Earnings Highlights (Q4, YoY)

  • Revenue up 14 percent to Rs 4,016 crore.
  • Net profit up 44 percent to Rs 434 crore.
  • Ebitda up 52 percent to Rs 882 crore.
  • Margin at 21.9 percent versus 16.3 percent.

UPL Q4 Profit Down 72%, Margin Contracts

UPL Ltd.’s profit fell 72 percent on a yearly basis to Rs 206 crore in the three months ended March, according to its stock exchange filing.

Key Earnings Highlights (Q4, YoY)

  • Revenue up 50 percent to Rs 8,525 crore.
  • Ebitda up 16 percent to Rs 1,410 crore.
  • Margin at 16.5 percent versus 21.4 percent.
  • Exceptional loss of Rs 299 crore in current quarter.

Bajaj Auto Jumps Over 6% After Q4 Results

Shares of Bajaj Auto rose as much as 7 percent, the most in nearly four years, to Rs 3,149.95, after the company announced its quarterly results.

Key Earnings Highlights (Q4, YoY)

  • Revenue up 9 percent to Rs 7,395 crore.
  • Net profit up 21 percent to Rs 1,306 crore.
  • Ebitda down 13 percent to Rs 1,161 crore.
  • Margin at 15.7 percent versus 19.6 percent.

Delta Corp Falls Nearly 17%

Shares of Delta Corp fell as much as 16.9 percent, the most in over 14 months, to Rs 156, the lowest since July 2017.

Trading volume was more than double its 20-day average, Bloomberg data showed. The Relative Strength Index on the stock was below 30, indicating that the stock may be oversold.

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