Indian indices surged over 1.5 percent on Monday boosted by banking and financial stocks, as they rebounded from a sharp drop in the previous session. The Nifty Bank and Nifty Fin Services indices soared 3-4 percent during the day lifting the benchmarks. The market sentiment further improved after
domestic coronavirus cases fell below the 300,000-mark for the first time since April 21.
The
Sensex ended 848 points higher at 49,581 while the Nifty rose 245 points to settle at 14,923. Last week, both frontline indices lost around a percent each after worries over higher US inflation triggered a sell-off in global markets.
Meanwhile, the broader markets also rallied during the day with the midcap index up 1.9 percent and smallcap index up 1.2 percent.
On the Nifty50 index, IndusInd Bank, SBI, ICICI Bank, HDFC Bank, and Axis Bank were the top gainers while Cipla, L&T, Bharti Airtel, SBI Life and Nestle led the losses.
Here are the key stocks that moved today:
Shilpa Medicare: The share price of Shilpa Medicare rallied 12 percent after the company announced a partnership with Dr Reddy's Laboratories for the production of the Sputnik V vaccine. Shilpa Biologicals Pvt Ltd (SBPL), a wholly-owned subsidiary of Shilpa Medicare, has entered into a three-year definitive agreement with Dr Reddy's Laboratories Ltd (DRL) for the production supply of the Sputnik V vaccine from its integrated biologics R&D cum manufacturing center at Dharwad, Karnataka.
Balkrishna Industries: The share price of Balkrishna Industries surged nearly 10 percent after the company reported robust earnings for the March quarter. The firm's net profit rose 43.54 percent to Rs 379.95 crore in Q4 as against Rs 264.70 crore during the quarter ended March 2020. For the full year, net profit rose 22.7 percent to Rs 1177.53 crore in the year ended March 2021 as against Rs 959.65 crore during the previous year ended March 2020.
Cipla: The share price of Cipla fell over 2 percent after the firm's earnings missed analysts' estimates on all parameters in the March quarter. The pharma company clocked a 72.2 percent year-on-year growth in consolidated profit at Rs 411.5 crore driven by operating performance. However, the profit was lower than Rs 559 crore that CNBC-TV18's analysts had estimated. Consolidated revenue grew by 5.3 percent year-on-year to Rs 4,606.4 crore, lower than the estimated Rs 4,919.4 crore.
Hester Biosciences: Hester Biosciences share price soared 20 percent after the firm said that it is in discussions with Bharat Biotech for technology transfer to produce the COVID-19 vaccine Covaxin. The company has tied up with the Gujarat government to explore the production of the COVID-19 vaccine through technology transfer from Bharat Biotech. "A triparty consortium has been formed with the Government of Gujarat as the lead partner, to explore the prospects of manufacturing the Covid vaccine through technology from Bharat Biotech," Hester said in a statement.
HIL: Shares of HIL Ltd jumped over 13 percent after the company reported strong earnings for the fourth quarter of fiscal 2021. The building materials and solutions company posted a standalone net profit of Rs 40.55 crore in Q4FY21 as compared to a net profit of Rs 8.07 crore in the year-ago period. Its revenue from operations increased 51.84 percent to Rs 452.06 crore from Rs 297.72 crore, YoY.
(Edited by : Pranati Deva)
