Live: Sensex Up 150 Points; HDFC Surges 5%
Markets At Noon
- Benchmark indices continue to fluctuate between gains and losses
- Nifty up 0.5 percent to 9,325
- Sensex up 0.5 percent to 31,892
- Nifty Bank up 2 percent to 20,482
- Nifty Midcap Index up 0.6 percent
- Nifty Smallcap Index up 0.3 percent
- India Volatility Index down 3.7 percent to 36.63
- Nifty Pharma Index remains top sectoral laggard; down 1.5 percent
- Nifty FMCG is the other sectoral laggard; down 1 percent
- IndusInd Bank remains top Nifty gainer; up 9.9 percent
- NTPC is the top Nifty laggard; down 2.7 percent
- 885 stocks on the NSE are advancing while 812 trade with losses
Stock Update: Vaibhav Global
The company has informed the exchanges that it has partially resumed operations at its manufacturing units in Jaipur after approval from relevant authorities.
Production will be scaled to a normalised level in a phased manner based on government directives, it added.
The company's retail business in the U.K. is operating as usual supported by its global supply chain, the statement said.
Shares gained as much as 2.3 percent to Rs 980 and are up for the third straight day.
Stock Reaction: LT Foods
The company informed the exchanges on Monday that its Modern Trade segment has outperformed for the month of March and April as people stocked up due to the Covid-19 lockdown.
It also attributed its performance to consumer preference for packaged goods due to the safety aspect.
The company also informed of significant growth in its online sales on most of the e-commerce platforms, adding that it is equipped with a robust supply chain and has no shortage with respect to rice and paddy stock.
Shares gained as much as 8.4 percent to Rs 22.60, snapping a two-day losing streak.
Earnings Reaction: Ambuja Cements
Shares of the cement company gave up gains of as much as 4.47 percent and are now trading flat after reporting their first quarter numbers of Calender year 2020.
Revenue for the company fell 3.4 percent while sales volume declined 10 percent compared to the previous year.
Ebitda margin expanded to 21.3 percent from 15.8 percent aided by lower power, fuel and logistics costs.
Today's volumes are 3.2 times higher than its 30-day average. Brokerage firm Morgan Stanley has maintained its overweight rating on the stock with a price target of Rs 186 citing its execution capabilities.
Stock Reaction: UPL
The stock is among the top five performers on the Nifty 50 index, gaining as much as 5.9 percent to Rs 369.95.
The company informed the exchanges that it has completed the acquisition of Yoloo Bio-technology Ltd., which was announced on November 14 last year.
The company has received all customary and regulatory approvals for the same, it said in its exchange filing.
Shares are up for the second straight day today and are gaining on volumes which are 2.2 times higher than its 30-day average.