Sensex Hits Fresh High After One-Day Blip
A trader reacts to the Federal Reserve Federal Open Market Committee interest rate announcement in Chicago, Illinois, U.S. (Photographer: Tim Boyle/Bloomberg)

Sensex Hits Fresh High After One-Day Blip

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Closing Bell: Sensex Resumes Record Close After One-Day Blip; Nifty Ends Near 12,000

Indian equity benchmark S&P BSE Sensex resumed record close after a one-day blip.

The 31-share index rose 0.55 percent to close at an all-time high at 40,469.78. The NSE Nifty 50 rose 0.41 percent to end at 11,966.05. The broader markets represented by the NSE Nifty 500 Index rose 0.28 percent.

The market breadth, however, was tilted in favour of sellers. About 931 stocks declined and 867 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 2.3 percent gain. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral loser, down 0.9 percent.

Fab Four Stocks Of The Day

Sun Pharma Advanced Research

  • Stock rose as much as 11.2 percent, the most since Oct 30, 2019, to Rs 158.50.
  • The company signed pact to grant a unit of China Medical System Holdings an exclusive license to develop and sell multiple products in Mainland China, Hong Kong, Macao and Taiwan.

CG Power and Industrial Solutions

  • Stock rose as much as 4.9 percent to Rs 16.
  • Unit bags $24 million order from Indonesian state utility PT PLN Indonesia (Persero) for Power Transformers.

Lakshmi Vilas Bank

  • Stock rose as much as 4.8 percent to Rs 18.60.
  • About 13 lakh shares of Lakshmi Vilas Bank changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known.

Torrent Power

  • Stock rose as much as 2.4 percent to Rs 1,835
  • Revenue rose 11.5 percent to Rs 3,842 crore.
  • Net profit rose 83 percent to Rs 754.4 crore.
  • Ebitda rose 6.9 percent to Rs 1055 crore.
  • Margin stood at 27.5 percent versus 28.6 percent.
  • Deferred tax reversal of Rs 318.3 crore in current quarter.

Stocks Reacting To Results Announcement

Canara Bank (Q2, YoY)

  • Stock rose as much as 2.9 percent to Rs 212.70.
  • Net interest income down 4.61 percent to Rs 3,129.76 crore.
  • Net profit up 21.8 percent to Rs 364.92 crore (Estimate Rs 217 crore)
  • Gross NPAs at 8.68 percent versus 8.77 percent (QoQ)
  • Net NPAs at 5.15 percent versus 5.35 percent (QoQ)
  • Provisions at Rs 2,037.97 crore versus Rs 2,835.14 crore (YoY), Rs 18,99.13 crore (QoQ)
  • Other income at Rs 2,069.59 crore versus Rs 1,555.31 crore (YoY)
  • Operating income at Rs 2,544.61 crore versus Rs 2,327.38 crore (YoY)
  • Tax rate at 27.9 percent versus 39 percent (QoQ)

Radico Khaitan (Q2, YoY)

  • Stock fell as much as 6.1 percent to Rs 332.45.
  • Net profit up 57 percent to Rs 79.9 crore.
  • Net sales up 10 percent to Rs 570 crore.
  • Ebitda down 5.4 percent to Rs 86.9 crore.
  • Margin at 15.2 percent versus 17.7 percent.

Exide (Q2, YoY)

  • Stock fell as much as 2.3 percent to Rs 184.45.
  • Revenue up 4 percent to Rs 3,778.5 crore.
  • Net profit up 15.6 percent to Rs 247.2 crore.
  • Ebitda up 34.5 percent to Rs 412 crore.
  • Margin at 10.9 percent versus 8.4 percent.

Bajaj Electricals (Q2, YoY)

  • Stock fell as much as 8.4 percent to Rs 350.
  • Revenue down 31.5 percent to Rs 1,095.7 crore.
  • Net loss at Rs 32.4 crore versus net profit of Rs 30.2 crore.
  • Ebidta down 69.4 percent to Rs 23.9 crore.
  • Margin at 2.2 percent versus 4.9 percent.

Lupin (Q2, YoY)

  • Stock rose as much as 4.3 percent to Rs 487.95.
  • Revenue up 10 percent to Rs 4,360 crore (Estimate Rs 4,396 crore)
  • Net loss at Rs 127 crore versus of Rs 266 crore (Estimate Rs 295 crore profit)
  • Ebitda up 33 percent to Rs 730 crore (Estimate Rs 775 crore)
  • Margin at 16.7 percent versus 13.9 percent (Estimate 17.6 percent)
  • One-time loss of Rs 546 crore.

Cipla Gains After Q2 Results Announcement

Shares of Cipla rose as much as 4.3 percent to Rs 487.95 after the company announced its September quarter results.

Key Earnings highlights (Q2, YoY)

  • Revenue up 9 percent to Rs 4395 crore (Estimate Rs 4,188 crore)
  • Net profit up 25 percent to Rs 471 crore (Estimate Rs 404 crore)
  • Ebitda up 29 percent to Rs 909 crore (Estimate Rs 816 crore)
  • Margin at 20.7 percent versus 17.5 percent (Estimate 19.5 percent)

Market Check: Sensex Hits New Record High; Private Banks Top Gainers

The 30-stock benchmark registered a fresh high of 40,543.10 in the afternoon trade, led by a rally in Yes Bank and ICICI Bank.

The NSE Nifty 50 rose 0.61 percent to 11,938.50. The market breadth was in favour of buyers. Around 910 stocks rose while 833 stocks declined.

Sensex Hits Fresh High After One-Day Blip

Godrej Consumer Jumps After Q2 Results

Shares of the consumer goods maker rose over 5 percent intraday to Rs 758 apiece. The firm reported its September quarter earnings on Wednesday.

  • Revenue down 1 percent at Rs 2630 crore.
  • Net profit fell 28 percent to Rs 414 crore.
  • Ebitda rose 17.7 percent to Rs 571 crore.
  • Ebitda margin t 21.7 percent versus 18.2 percent.
  • Domestic volume growth at 7 percent.
  • Profit lower by 28 percent owing exceptional gain of Rs 259 crore in base quarter.

The trading volume was three times the 20-day average for this time of the day, Bloomberg data showed.

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