Indices end flat on Friday, Nifty settles at 11,214; Asian Paints up 4%
The benchmark indices ended on a subdued note on Friday; however, the mid and small-cap indices logged decent gains during the session.
The S&P BSE Sensex settled at 38,041, up 15 points or 0.04 per cent with Asian Paints (up over 4 per cent) being the top gainers and Titan Company (down over 2.5 per cent) the biggest loser. NSE’s Nifty50 ended at 11,214, up 14 points, or 0.12 per cent. India VIX dropped over 3 per cent to 22.37 levels.
In the broader market, the S&P BSE MidCap index gained over 200 points or 1.4 per cent to end at 14,219 while the S&P BSE SmallCap index closed the session at 13,669, up 106 points, or 0.78 per cent.
On a weekly basis, Sensex gained 1.15 per cent while Nifty added 1.26 per cent.
The sectoral trend on the NSE was mixed. While IT and pharma stocks fell, auto, metals and financial stocks gained. The Nifty IT index slipped 1 per cent to 18,004 levels while the Nifty Pharma index ended at 11,333, down 0.6 per cent. On the other hand, Nifty Metal gained 0.85 per cent and Nifty Auto rose 0.75 per cent. Nifty Bank ended 0.5 per cent higher at 21,754 levels.
Shares of Bayer CropScience hit an all-time high of Rs 6,449 apiece on the BSE during the day after the company reported encouraging numbers for the quarter ended June 2020 (Q1FY21). The stock ended at Rs 6,139, up 9 per cent.
Shares of Lupin ended over 6 per cent lower at Rs 879.40 on the BSE after the pharmaceutical company’s net profit for April-June quarter declined 60 per cent on a yearly basis to Rs 106.9 crore. Lupin had posted a profit of Rs 264.7 crore in the corresponding period of the previous year.
Shares of Torrent Power rallied 9 per cent to hit a 52-week high of Rs 357.50 on the BSE during the day after the company posted a 35.3 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 372.66 crore against Rs 275.27 crore in the corresponding quarter of the previous fiscal. The stock ended at Rs 337, up nearly 3 per cent.
Shares of CG Power and Industrial Solutions hit a 5 per cent upper circuit limit of Rs 10.99 apiece on the BSE on Friday after the company informed that its board has approved the execution of a securities subscription agreement (SSA) with Tube Investments of India for the issuance and allotment of securities to it on a preferential basis.
Mahindra & Mahindra reported a 97 per cent year-on-year (YoY) decline in consolidated net profit at Rs 67.79 crore for the June quarter of FY21 (Q1FY21). The company had reported a profit of Rs 2,259.74 crore in Q1FY20.
Pidilite Industries’ shares surged up to 4.4 per cent to Rs 1,391 on the BSE on Friday after the company’s June quarter result, released post market hours on Thursday, came beat Street expectations. The company reported consolidated net profit of Rs 15.82 crore for the quarter under review, as against profit of Rs 294.39 crore in Q1FY20.
The stock of PI Industries, India’s second largest agrochemicals company by market capitalisation, hit record levels of Rs 2052.75 intraday before ending 7.4 per cent higher on Thursday. The price movement came on the back of strong June quarter results and a robust growth outlook for FY21. Despite the Covid-19 disruption, the company posted a 41 per cent increase in revenues led by the domestic business.
Delta Corp shares surged 17.4 per cent to Rs 115.5 on the BSE on Friday, supported by heavy volume, after the BSE increased its circuit limit from 5 per cent to 20 per cent. At 11:05 am, the stock was trading at Rs 110 apiece on the BSE, as against 80 points, or 0.21 per cent, slide in the benchmark S&P BSE Sensex. A combined 11.77 million shares had changed hands on the NSE and BSE till the time of writing of this report. Of this, volumes on BSE were 0.5 million, which was nearly double the volume seen on the counter so far in the current week on the exchange.
HPCL advances 4% as Q1 pre-tax profit leaps 140% YoY to Rs 3,120 crore. The stock, however, erased gains and was quoting 0.74 per cent lower at Rs 215 apiece on the BSE at 10:34 am. In comparison, the S&P BSE Sensex was at 37,978.34 level, down 47 points or 0.12 per cent. A combined 11.5 million shares had changed hands on the counter on the NSE and BSE till the time of writing of this report.
Here are some picks from the week gone by.
