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Sensex, Nifty Log Best Close In Nearly Three Weeks Led By Infosys, HDFC Bank

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Sensex, Nifty Log Best Close In Nearly Three Weeks Led By Infosys, HDFC Bank

Indian equity benchmarks registered their best close in nearly three weeks, recovering yesterday’s losses.

The benchmark indices were led by the gains in Infosys Ltd. and HDFC Bank Ltd. The S&P BSE Sensex ended 279 points or 0.75 percent higher at 37,979.48 and the NSE Nifty 50 ended at 11,257.10, up 0.9 percent. The broader market index represented by the NSE Nifty 500 Index ended 0.67 percent higher.

The market breadth, however was tilted in favour of sellers. About 898 stocks declined and 841 shares advanced on National Stock Exchange.

Ten out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Media index’s 2.26 percent gain. On the flipside, the NSE Nifty Pharma index was the only sectoral loser, down 0.21 percent.

Bajaj Finance Gains After Q4 Results

Shares of Bajaj Finance rose as much as 3.2 percent to Rs 3,100 after the company announced its Fourth quarter results.

Key Earnings Highlights (Q4, YoY)

  • Net interest income up 50 percent to Rs 3,395 crore.
  • Net profit up 57 percent to Rs 1,176 crore.

Market Check: Senex, Nifty At Day’s High

Indian equity benchmarks were trading at day’s high. Sensex rose over 200 points and Nifty traded above 11,200.

Sensex, Nifty Log Best Close In Nearly Three Weeks Led By Infosys, HDFC Bank

Bank Of India Rises After Q4 Asset Quality Improves

Shares of Bank of India rose as much as 3.8 percent after the lender’s asset quality improved in March quarter.

Key Earnings Highlights (Q4, YoY)

  • Net interest income up 58 percent to Rs 4,044 crore.
  • Net profit at Rs 251.79 crore versus loss of Rs 3,969 crore.
  • Gross NPAs at 15.84 percent versus 16.31 percent (QoQ).
  • Net NPAs at 5.61 percent versus 5.87 percent (QoQ).
  • Provisions at Rs 1,897 crore versus Rs 9,000 crore (QoQ); Rs 6,674 crore (YoY).
  • Advances down 0.09 percent, deposits down 0.08 percent.
  • PPOP at Rs 2303 crore versus Rs 2,273 crore (QoQ); Rs 1,172 crore (YoY).
  • CAR at 14.19 percent versus 12.47 percent (QoQ).
  • CET 1 at 11.01 percent versus 9.10 percent (QoQ).
  • RoA 0.15 percent versus -2.85 percent (QoQ); -2.36 percent (YoY).

Hindalco Gains After Q4 Results Announcement

Shares of Hindalco rose as much as 2.2 percent to Rs 194.85 after the company announced its March quarter results.

Key Earnings Highlights (Standalone + Utkal Alumina) (Q4, YoY)

  • Revenue up 6.5 percent to Rs 12,455 crore.
  • Net profit down 17.8 percent to Rs 506 crore.
  • Ebitda down 4.1 percent to Rs 1,733 crore.
  • Margin at 13.9 percent versus 15.5 percent.