Stock Market Highlights: Sensex surges 1,041 pts and Nifty50 reclaims 16,650 as market hits nearly 1-month closing highs

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Buy ONGC, target price at Rs 144: Hemang Jani 

Hemang Jani of Motilal Oswal Financial Services tells CNBC-TV18 that in his view, as long as oil & gas rates remains elevated, ONGC stands to benefit. The company will also be a good dividend yield play, he says. 

"ONGC had its time under the sun and the stock also did pretty well but in the current scenario where the quarterly numbers have not been that great and when the government is trying to curb the inflation and that is becoming a priority, there is always going to be an overhang of how much component of that additional burden could come on the upstream companies, which is why there might be a little bit of a negative sentiment prevailing for ONGC," he adds. 

Rupee ends marginally higher at 77.54 vs US dollar

Sun Pharma reports surprise net loss of Rs 2,277.2 crore for the January-March period

The surprise loss was on account of a one-time loss if Rs 3,935.7 crore. 

Analysts in a CNBC-TV18 poll had expected the drug maker to post a quarterly net profit of Rs 1,719.3 crore.

Market At Close | Sensex and Nifty extend gains to 3rd straight day to nearly one-month closing highs

Here are some highlights:

Market sees broad-based gains

--IT leads upmove, Nifty IT up four percent

--Investors gain more than Rs 10 lakh crore in wealth in three sessions as market value of BSE-listed companies increases

--All sectoral indices in the green

--Volatility index falls seven percent

--M&M rises to record high following strong Jan-Mar earnings

--Dixon, City Union Bank surge after healthy earnings

--Jubilant FoodWorks gains 10 percent after appointment of new CEO and better-than-expected quarterly performance

--Piramal Enterprises reverses Friday’s losses, among top midcap gainers 

--JSW drops two percent after a weak quarterly performance, JSPL falls four percent ahead of earnings

--Kotak Mahindra Bank, Sun Pharma, DRL, NTPC slip in a strong session

--Titan, M&M, Infosys, Adani Ports, L&T, HCL, Grasim top Nifty gainers

--Rising crude prices support ONGC shares despite co's weak earnings

--Realty stocks rise on reports of demand uptick

--Dr Lal, Torrent Pharma, AU SFB, NMDC, Ashok Leyland top midcap losers

--Market breadth favours bulls, advance-decline ratio at 3:1

J Kumar Infra bags Rs 1,068-crore order 

J Kumar Infra bags order of Rs 1,068 cr

J Kumar Infra bags order of Rs 1,068 cr

TTK Prestige shares gain over 3% as Street cheers strong growth, robust demand

Shares of TTK Prestige rose over 3 percent to Rs 853.65 in early trade on the back of a strong set of numbers for the March ended quarter. The company witnessed double-digit growth in Q4 contributed by all channels and geographies.

Dixon Tech Q4 earnings | Net profit up 36% at Rs 63 crore

Open to any market which offers cheap gas: Manoj Jain

Manoj Jain, CMD of GAIL said, "we are open to market from across the world wherever we get the cheap gas."

Jubilant Food reports Q4 earnings

₹2,200 hike per vehicle in third party insurance cost will dent recovery efforts: Tata Motors

Kotak Mahindra Bank nearly 2 percent off highs