NEW DELHI: Boosted by strong Q4 earnings and firm global cues, the bulls continued their winning momentum on Dalal Street on Monday. The S&P BSE Sensex gained 191 points to settle at 35,160, while NSEs Nifty50 index reclaimed the crucial 10,700 level to end 47 points higher at 10,739.
Here's a wrap-up of top newsmakers of Dalal Street –
RIL falls over 3% post Q4 nos
Shares of Reliance Industries fell over 3 per cent as experts remained mixed on the companys prospects following its fourth quarter earnings on Friday. While some analysts expect a 16 per cent upside in the stock in the near future, some forecast 7 per cent downside. The lender on Friday reported Rs 9,435 crore consolidated profit for the March quarter, its highest quarterly profit. Shares of the company settled 3.18 per cent lower at Rs 963.10 apiece on BSE. READ MORE
HDFC delivers strong Q4
Indias largest mortgage lender HDFC on Monday reported a 39.2 per cent YoY rise in its standalone net profit for March quarter at Rs 2,846.22 crore from Rs 2,044.22 crore. The numbers were way above the ETNow poll estimates of Rs 2,560 crore. NII (net interest income) for the bank stood at Rs 3,617 crore, up 12.4 per cent YoY against Rs 3,216 crore in the corresponding quarter last year. Shares of the company ended 1.44 per cent higher at Rs 1,884.65 apiece on BSE. READ MORE
Kotak Bank up 2% post Q4 nos
Private sector lender Kotak Mahindra Bank posted a 15.16 per cent year-on-year growth in standalone net profit at Rs 1,124 crore. Analysts in an ETNow poll had projected their profit estimate at Rs 1,230 crore. On a consolidated basis, the bank posted a 27 per cent YoY rise in net profit at Rs 1,789.24 crore against Rs 1,404.34 crore reported for the year-ago period. Shares of the lender ended nearly 2 per cent higher at Rs 1,210.35 apiece on BSE. READ MORE
Kalpataru Power bags order
Shares of the company rose over 4 per cent in intraday trade after the company informed the bourses that it had won new orders worth Rs 1,463 crore. The stock ended 3 per cent higher at Rs 486.30 apiece on BSE.
Rise & fall of PC Jeweller
It was a roller-coaster ride for Indias second-largest jeweller. The stock, which spurted 18 per cent in the opening deals buoyed by buzz of a share buyback, once again resumed its downtrend in intraday trade. The stock closed the day at Rs 145, down a hefty 19 per cent. READ MORE
Merck hits lifetime high on Q4 results
Shares of the company climbed 13 per cent to hit a high of Rs 2,160 apiece on BSE after the company reported a 53 per cent jump in March quarter profit on Friday, boosted by a 22 per cent rise in revenue from its pharmaceuticals business. The stock eventually closed at Rs 2,111.05 apiece on BSE, up 11 per cent.
Spurt in open interest
PC Jeweller saw the biggest surge in open interest at 57.68 per cent. Repco Home Finance (32.14 per cent) and IRB (29.65 per cent) were the next on the list.
Tweet of the day
Over 300 mid & small-cap stocks are in selling list by MFs as part of their restructuring, partly to comply with SE… https://t.co/dvF9WmWMDw
— Porinju Veliyath (@porinju) 1525084247000
Oil at $300?
Pierre Andurand, one of oils most prominent hedge fund managers, said the current reluctance of energy companies to invest in new production meant $300 a barrel was "not impossible" within a few years, Bloomberg reported. "So paradoxically these peak demand fears might bring the largest supply shock ever," he wrote. "If oil prices do not rise fast enough, $300 oil in a few years is not impossible". READ MORE