Nifty Ends At Record High; SBI Top Performer On Sensex
India stocks climbed marginally higher, with a key index registering a record high, on the expiry of May monthly derivative contracts.
The S&P BSE Sensex gained 0.2% to 51,115.22. The NSE Nifty 50 Index rose 0.2% as well to 15,337.85, surpassing its highest-ever close reached in February. Fifteen of the 19 sector indices compiled by BSE Ltd. advanced, led by a gauge of lenders.
Sun Pharma Q4 Net Profit Misses Estimates
Sun Pharma reported net income for the fourth quarter that missed the average analyst estimate.
- Net income Rs 894 crore vs. Rs 400 crore YoY, estimate Rs 1,371 crore
- Revenue Rs 8,520 crore, +4.2% YoY estimate Rs 8,752 crore
- Total costs Rs 7,060 crore, -5.2% YoY
- Other income Rs 111 crore, +8.8% YoY
- Dividend per share Rs 2
- Appoints Pawan Goenka, Rama Bijapurkar as directors
- Q4 Exceptional loss Rs 673 crore
Wockhardt Approves Plan To Raise Up To Rs 1500 Crore Via Shares
Wockhardt Ltd. approved raising of funds by way of shares, equity-linked securities, or other eligible securities through modes including public offering or Qualified Institutions Placement, according to a statement to stock exchanges.
- The company’s board recommends seeking approval of shareholders for the fundraising plan
Cadila Health Q4 Net Income Beats Estimates
Cadila Health reported net income for the fourth quarter that beat the average analyst estimate.
- Net income Rs 679 crore, +73% YoY, estimate Rs 495 crore
- Revenue Rs 3,850 crore, +2.7% YoY, estimate Rs 3,852 crore
- Total costs Rs 3,200 crore, -0.6% YoY
- Finance cost Rs 23.30 crore, -72% YoY
- Raw material costs Rs 1,030 crore vs. Rs 1,030 crore YoY
- Staff costs Rs 620 crore, +1.6% YoY
- Dividend per share Rs 3.50
Strides Pharma Q4 Net Profit Misses Estimates
Strides Pharma reported net income for the fourth quarter that missed the average analyst estimate.
- Net income Rs 46.09 crore vs. loss Rs 200 crore YoY, estimate Rs 62.20 crore
- Revenue Rs 908 crore, +46% YoY, estimate Rs 843 crore
- Total costs Rs 845 crore, +32% YoY