Extending their stupendous run, the Indian benchmark indices today managed to hold on to their own in a choppy session of trade. The NSE Nifty managed to close above the 9600-mark while the BSE Sensex closed above the 31,150 level.
Extending their stupendous run, the Indian benchmark indices today managed to hold on to their own in a choppy session of trade. The NSE Nifty managed to close above the 9600-mark while the BSE Sensex closed above the 31,150 level. The 30-share BSE Sensex hit a life-time high of 31,220.38 points in intraday trade before settling at a new closing basis high of 31,159.40 points, up 50.12 points, or 0.16 percent. The Nifty traded range bound during today’s trade before settling at its new closing basis high of 9,624.55 points. BSE Mid-cap index closed 0.83% higher at 14,489.76 points while the BSE Small-cap index closed 68.91 points or 0.46% higher at 14,924.04 points. The Nifty Bank index gained 124.50 points or 0.54% to close at 23,307.25 points.
Share prices of Aurobindo Pharmaceuticals Ltd zoomed 14% intraday on the NSE after the healthcare company yesterday said it is confident about FY18 growth despite weak Q4 earnings. The company posted a 4% dip in consolidated net profit at Rs 532.22 crore for the fourth quarter ended March 2017 as compared to Rs 554.51 crore posted during the same period of the previous fiscal.
The healthcare company, in its conference call, said that it is less worried about pricing pressure in the US and the price erosion is likely to be 7-8%, which is far less than its peers that expect in double digits. The company also expects the intensity of pricing pressure to taper off in the coming quarters. The intensity of pricing pressure is expected to taper off in next few quarters, it believes.
Share prices of Adani Enterprises rose 12% intraday on the NSE after the company said that it had reached an agreement with Australia’s Queensland state on royalty payments for its Carmichael coal project and will consider making a final investment decision at its next board meeting. The $10 billion project has come back on track after this agreement.
Shares of Bharat Heavy Electrical Ltd (BHEL) dipped over 12.8% on the BSE to Rs 133.65, their lowest since 25 January 2017, after the company’s standalone net profit declined by 57% to Rs 215.55 crore in the fourth quarter ending March 31, 2017. According to the company’s statement in a BSE filing, the total standalone income decreased to Rs 10,302.79 crore in the quarter under review from Rs 10,870.49 crore year ago. The standalone net profit of the company was Rs 495.86 crore in 2016-17 versus the reported loss of Rs 709.60 crore in 2015-16. The standalone total income of the company rose to Rs 30,201.39 crore in 2016-17 from Rs 28,136.09 crore in 2015-16.
You may also like to watch:
Shares of Videocon Industries fell for the seventh straight day today. The BSE had on Friday changed the circuit limits to 5% from 10%, in order to kerb excessive volatility and to ensure that the stock price does not fluctuate beyond a prescribed level during a session. These new limits are in place from Monday, 29 May 2017.
Day’s top gainers on the BSE were Adani Ports up 3.34% at Rs 339.55; National Thermal Power Corporation up 3.17% at Rs 161.30 and DrReddy’s Laboratories Ltd up 2.33% at Rs 2481.40 while the top losers were Power Grid down 2.16% at Rs 203.95; ITC down 1.77% at Rs 310.40, HDFC down 1.18% at Rs 1580.00.
Indian Rupee declined against the dollar wiping off some of its gains. The Rupee slipped 15 paise or 0.23 percent to 64.63 against the U.S. dollar.
Gold prices fell Rs 55 to Rs 28,845 per 10 grams at the domestic bullion market today. Globally Spot gold touched a one-month high of $1,270.47 before pulling back 0.2 percent to $1,263.77 per ounce by 1033 GMT. U.S. gold futures slipped 0.4 percent to $1,263.30 an ounce as the dollar picked up. On the other hand, silver fell Rs 235 to Rs 40,102 per kg.