Sensex settles 86 points higher at 43,443 levels, gains 11% in Samvat 2076
The domestic equity market ended Friday’s session, the last trading day of Samvat 2076 on a positive note after oscillating between gains and losses during the day. The S&P BSE Sensex today gained 86 points, or 0.2 per cent to settle at 43,443 levels. With today’s gain, the index rallied 10.68 per cent during Samvat 2076.
NSE’s Nifty ended Friday’s session at 12,720, up 29 points, or 0.23 per cent. India VIX fell around 4.5 per cent to 19.7 levels.
On a weekly basis, both Sensex and Nifty gained 3.7 per cent each.
Meanwhile, market will open for one hour on Saturday, November 14 for the auspicious “Muhurat Trading session, which will start at 06:15 pm. However, it will remain closed on Monday, November 16 on account of Diwali-Balipratipada.
In the broader market, the S&P BSE MidCap index rose 0.86 per cent to 15,876 levels while the S&P BSE SmallCap index advanced over 1 per cent to 15,639 points.
Sectorally, all the indices but Nifty FMCG, and Nifty Media settled in the green.
Info Edge gains 9% in three days, hits record high post Q2 results. While announcing the September quarter results, the management said it is seeing a gradual recovery of billings across all businesses. The quarter-on-quarter (QoQ) billings have grown by 32.3 per cent, it said. However, in Q2FY21, the company’s billings dipped 17 per cent year-on-year (YoY) at Rs 249.5 crore. Operating EBITDA (earnings before interest, taxes, depreciation, and amortization) was down by 48.1 per cent at Rs 51.6 crore over the corresponding quarter in FY2019-20.
Leading multiplex chain Inox Leisure on Friday raised Rs 250 crore from a qualified institutional placement (QIP) of shares. The QIP issue, involving selling over 98 lakh shares at Rs 255 a share, which carry a face value of Rs 10, was oversubscribed 3.5 times by marquee global and domestic institutional investors, the company said in a statement.
Bharat Forge declines 11% in 3 days after subdued September quarter results. Bharat Forge reported 87.4 per cent year-on-year (YoY) decline in its consolidated net profit at Rs 27.2 crore in Q2FY21 on account of lower operational income. It had posted a profit of Rs 215.8 crore in Q2FY20. Total revenue was down 36 per cent YoY to Rs 1,376 crore from Rs 2,158 crore in the previous year quarter owing to lower-than-expected overseas auto revenues. EBITDA (earnings before interest, taxes, depreciation, and amortization) margin contracted 500 basis points to 18.8 per cent.
Ceramic tile-makers in focus; Kajaria, Cera Sanitaryware hit 52-week highs. Cera Sanitaryware rallied 8 per cent to Rs 2,934, while Kajaria Ceramics gained 4 per cent to Rs 600 on the BSE in intra-day trade today. Somany Ceramics, too, surged 8 per cent to Rs 249, trading close to its 52-week high level of Rs 252.85 touched on January 2020. In comparison, the S&P BSE Sensex was down 0.23 per cent at 43,255 points, at 12:49 pm.
Shares of Jubilant FoodWorks hit a record high of Rs 2,475.65, soaring 6 per cent on the BSE in the intra-day trade on Friday, after the company reported a healthy operational performance for the quarter ended September 2020 (Q2FY21). The stock has surpassed its previous high of Rs 2,465 touched on November 9, 2020. In the past three months it has gained 30 per cent as compared to a 13 per cent-rise in the S&P BSE Sensex.
Shares of Eicher Motors hit a fresh 52-week high of Rs 2,465, up 5 per cent on the BSE in the early morning trade on Friday in an otherwise subdued market on strong management commentary. In the past week, the stock has rallied 15 per cent, against a 3 per cent rise in the S&P BSE Sensex. The management said production levels are at 70,000 units/month now, while bookings number were encouraging at 1.25 lakh units, including 8,000 units for newly-launched Meteor. The company has a robust order book and booking numbers are ahead of pre-covid levels, it said.
Indiabulls Real Estate extends gains as Jhunjhunwala’s firm buys stake. On November 12, 2020, Rare Enterprises, owned by ace investor Rakesh Jhunjhunwala, purchased 5 million equity shares, or 1.1 per cent equity stake, in Indiabulls Real Estate via open market transaction. Rare Enterprises bought shares worth of Rs 28.86 crore at a price of Rs 57.73 per share, bulk deals data available on the NSE showed.
Grasim Industries hits 52-week high in early deals as the Aditya Birla Group firm on Thursday reported a 3.30 per cent increase in consolidated net profit at Rs 1,521.40 crore for the second quarter ended September 2020. The company had posted a net profit of Rs 1,472.77 crore during the July-September quarter of the previous fiscal. Further, the company said it will sell its fertiliser business, Indo Gulf Fertilisers (IGF), by way of a slump sale to Indorama India Private Ltd (IIP) for a cash consideration of Rs 2,649 crore.
Here are some picks from the week gone by.
