Live: Sensex Up 500 Points; Britannia Surges To Record High

• Estimated quantum of loss due to lockdown for March 2020 is around 23,400 vehicles and 14,700 tractors.
• Estimated quantum of loss due to lockdown in Q1FY21 is around 87,000 vehicles and around 30,000 tractors.
• Revenue and profitability will be impacted in-line with the fall in volumes.
• 75% of dealerships are currently operating.
• Difficult to estimate total impact on Covid-19 beyond Q1FY21.
• Cash position is good for the short-term and liquidity is assured with enough unused credit lines.
• Do not foresee any issues relating to servicing debts or financing arrangements.

Shares gained as much as 2.6% to Rs 475 and are up for the third straight day.

The company reported a 26% growth in its net profit for the quarter ending March, aided by lower tax expenses.

The company estimates a 7-10% impact on its revenue and net profit due to Covid-19, according to its press release.

The company's gross margins fell 150 basis points to 39.7% while raw material costs fell 1.2% to Rs 1,363 crore.

It has also declared an interim dividend of Rs 35.

The stock gained as much as 7.45% post its earnings to trade at a life-time high of Rs 3,708. The stock is up for the sixth straight day, its longest losing streak since August 2018.

Indian equity markets extended their best winning streak in seven months by opening higher for the sixth straight session. Markets in November 2019 had registered back-to-back gains for seven trading sessions.

A rally in global equity markets which are surging for the third day in a row, is adding to sentiment.

The S&P BSE Sensex opened 1.1% higher at 34,185 while the NSE Nifty 50 index opened 1.3% higher, above the 10,000 mark at 10,108. Both benchmarks are trading at their highest level in nearly three months.

All sectoral indices opened with gains led by the Nifty Bank which opened 2.1% higher. The Nifty Media and the Nifty PSU Bank index opened with gains of close to 2% while Nifty Auto and Nifty Metal gained 1.5% each in opening trade.