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As on May 28, 2020 12:00 AM Your results on : Mid Session    
Sensex, Nifty hit day's high; autos rise for 7th day
28-May-2020 (10:26)

Key market barometers hit fresh intraday high in morning trade, extending gains for second day. At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 378.99 points or 1.20% at 31,984.21. The Nifty 50 index was up 109.30 points or 1.17% at 9,424.25.

In the broader market, the S&P BSE Mid-Cap index rose 1.10% while the S&P BSE Small-Cap index gained 1.33%.

The market breadth was strong. On the BSE, 1276 shares rose and 492 shares fell. A total of 92 shares were unchanged. In the Nifty 50 index, 38 shares advanced while 12 stocks declined.

The market could remain volatile as traders roll over positions in the F&O segment from the near month May series to June series. The May 2020 F&O contracts expire today, 28 May 2020.

Foreign portfolio investors (FPIs) sold shares worth Rs 334.74 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,408.85 crore in the Indian equity market on 27 May, provisional data showed.

Buzzing Index:

The Nifty Auto index rose 2% to 6,015.15, extending gains for seventh day. The index has added 10.8% in seven sessions.

Tata Motors (up 3.66%), Eicher Motors (up 2.54%), Ashok Leyland (up 1.85%), Maruti Suzuki India (up 1.78%), Hero MotoCorp (up 1.56%), TVS Motor Company (up 1.27%), Escorts (up 0.84%), Bajaj Auto (up 0.5%) and Mahindra & Mahindra (up 0.24%) advanced.

Q4 Results Today:

Lupin (down 1.03%), TVS Motor Company (up 0.76%), CEAT (up 0.95%), Federal Bank (up 1.22%), Radico Khaitan (up 0.99%), IIFL Finance (up 2.41%), Heidelberg Cement India (up 1.05%), LT Foods (up 0.67%) and Agro Tech Foods (up 0.06%) are some of the companies that will announce their quarterly result today.

Earnings Impact:

United Spirits fell 1.90% to Rs 566.85 after the company reported 52.5% decline in consolidated net profit to Rs 58.40 crore on 14.1% fall in net sales to Rs 1990.50 crore in Q4 March 2020 over Q4 March 2019.

Consolidated profit before tax (PBT) stood at Rs 183.50 crore in Q4 FY20, up by 5.6% from Rs 173.70 crore in Q4 FY19. Revenue declined primarily due to COVID-19 led disruption in India in March, which exacerbated the impact of the ongoing consumption slowdown. Employee expense declined 36.91% to Rs 109.40 crore during the quarter.

On the volume front, the alcoholic beverages manufacturer's prestige & above segment witnessed 19.6% fall in volumes as it stood at 8.4 EUm while the popular segment's volumes contracted by 7.5% to 9.9 EUm in Q4 FY20 over Q4 FY19.

Sun Pharmaceutical Industries rose 1.51% to Rs 457.35 amid value buying. The stock had fallen nearly 4% in the past two sessions.

Sun Pharma reported 37.1% decline in consolidated net profit to Rs 399.84 crore on 14.3% rise in total revenue from operations to Rs 8,184.94 crore in Q4 March 2020 over Q4 March 2019. Profit before tax (PBT) stood at Rs 577.44 crore in Q4 FY20, down by 16.8% from Rs 694.24 crore in Q4 FY19.

The company recorded a one-time expenditure of Rs 260.64 crore as an exceptional item in the March 2020 quarter. Of the total amount, the charge of Rs 104.28 crore was due to the Supreme Court of India's judgment in a case pertaining to central excise refund claims and Rs 156.36 crore was on account of a settlement made by Dusa Pharmaceuticals, the company's US-based subsidiary, with the U.S. Department of Justice and an individual to resolve allegations relating to the sales, marketing and promotion of two of its products.

In the fourth quarter, the drug maker's India formulations earnings stood at Rs 2,364.80 (up 114.7% YoY) while US formulations earnings were at Rs 2,712.88 (down 13.2% YoY). Emerging markets' sales came in at Rs 1,353.97 (up 11% YoY) and formulation sales in Rest of World (ROW) markets were at Rs 1,121.22 crore (up 4% YoY). The term 'YoY' indicates year-on-year comparison.

For Q4 FY20, external sales of active pharmaceutical ingredients (API) were at Rs 483.43 crore, flat over Q4 last year. Consolidated R&D investment fell 5.6% to Rs 536 crores in Q4 FY20, from Rs. 567.49 crores reported in Q4 last year.

Stocks nudge higher in early trade
28-May-2020 (09:27)
Sensex spurts 900 pts as banks rally
27-May-2020 (14:29)
Barometers at day's high; banks rally
27-May-2020 (13:20)
Nifty crosses 9,100 mark; India VIX slides below 31
27-May-2020 (12:27)
Indices hit day's highs; metal stocks shine
27-May-2020 (11:27)
Shares come off the day's low
27-May-2020 (10:27)
Stocks nudge higher in early trade
27-May-2020 (09:25)
Market turns negative; pharma snaps winning run
26-May-2020 (14:23)
Sensex, Nifty turn almost flat; Europe opens higher
26-May-2020 (13:28)
Barometers trade higher; India VIX cools off
26-May-2020 (12:25)
Benchmarks pare gains; breadth positive
26-May-2020 (11:30)
Shares off the day's high; private banks in demand
26-May-2020 (10:25)
Market opens on a firm note
26-May-2020 (09:28)
Sensex, Nifty trim losses; metals stocks correct
22-May-2020 (14:26)
Indices trade with steep losses; Europe opens in red
22-May-2020 (13:23)
Nifty holds 9000 mark; financials drag
22-May-2020 (12:30)
Barometers extend losses; breadth negative
22-May-2020 (11:28)
Shares turn volatile after RBI cuts key rates
22-May-2020 (10:31)
Market drifts lower in early trade
22-May-2020 (09:21)
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