Sensex reclaims 35,000: IT, FMCG, auto, metal stocks shine in claw-back

Benchmark indices ended sharply up on Friday, triggered by corporate earnings and taking cues from global peers.

The S&P BSE Sensex hit an intra-day high of 35,065, but pared gains to end at 34,970 levels, up 256 points. The broader Nifty50 index settled at 10,692, up 75 points.

Reliance Industries (RIL) hit a record high of Rs 1,000 per share, up 2.5% on the BSE in intraday trade on the BSE, ahead of its Q4FY18 results today. The stock surpassed its previous high of Rs 990 recorded on January 23, 2018 in intra-day deal. The textiles-to-telecom conglomerate, RIL is expected to post its best-ever quarterly consolidated net profit, with the figure expected to be close to Rs 100-billion mark.

Country’s largest car maker, Maruti Suzuki, reported a record annual profit of Rs 77.21 billion for the year ended March 31, 2018, helped by a double-digit growth in volumes of cars sold. The Suzuki-promoted firm clocked a near 17 percent jump in sales revenue for the year to Rs 781 billion. Profit, however, grew by just five percent. An increase in effective tax rates and lower non-operating income due to mark-to-market impact on the invested surplus, compared to last year impacted net profit, the company said.

Shares of public sector undertaking (PSU) banks were in focus with Nifty PSU Bank index gaining 5%, its sharpest intra-day gain during past one month on the National Stock Exchange (NSE).

Shares of Axis Bank were up 5% at Rs 522 per share on the BSE despite the private sector lender reporting its first net loss of Rs 21.8 billion for the quarter ended March 2018 (Q4FY18), as non-performing assets (NPAs) soared and provisions for bad loans surged three times over the corresponding quarter last year.

Rollover Stats

  • Cement, Pharma, Metals, Media and Fertilisers sectors witnessed higher rollovers compared to same day of previous expiry.
  • FMCG, Oil & Gas, Capital Goods, Realty and Power sectors witnessed lower rollovers compared to same day of previous expiry.
  • Highest rollover in current expiry: Media, Pharma, Infrastructure, Finance and Fertilisers.
  • Lowest rollover in current expiry: Capital Goods, FMCG, Oil & Gas, Power and Realty.
Companies In News 
  • 15 IDBI officals named in bank fraud case, raids conducted at 50 locations: CBI Official
  • Fortis to discuss further board restructuring on April 27
  • Thermax won Rs 279 crore order for a captive cogeneration power plant
  • IEX board decided not to go ahead with buyback
  • Essel Propack’s board recommended 1:1 bonus issue
  • Cyient acquired semiconductor firm Ansem N.V. in an all cash deal worth $17 million
  • Gati approved inducting new strategic and/or financial partner
  • CCI finds no Appreciable Adverse Effect on Competition in respect of Tata Steel’s proposed acquisition of Bhushan Steel
  • Apollo Micro Systems said that the company officials were asked to appear before IT officials on April 25
  • MOIL signed MoU with Ministry of Steel for FY19
  • Mangalore Chemicals and Fertilisers shuts down ammonia, urea and ABC Plants for annual turnaround maintenance
Here are some picks from the week gone by.

Company: Wockhardt Ltd. CMP: 819.65 Mastermind

Company: Jindal Steel CMP: 252.70 Mastermind

Company: Cadila Healthcare CMP: 406.65 Mastermind

Company: Bharat Petroleum CMP: 389.00 Mastermind

Company: Steel Authority CMP: 77.25 Mastermind


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