Live: Sensex Up 500 Points; 38 Nifty Stocks Advance

The footwear-maker's revenue declined 15% during the quarter ending March, attributed to the nationwide lockdown imposed towards the end of March due to Covid-19.

Ebitda remained flat while Ebitda margins stood at 15.7% adjusted for the IND-AS 116, as per the company's press release.

Adoption of new accounting standards also led to an increase in the company's finance cost and depreciation.

Shares fell as much as 3.4% to Rs 730 and are down for the second straight day.

The two-wheeler manufacturer launched an integrated online sales platform called eSHOP.

The platform will allow buying of vehicles through the company's website.

It will also allow for a retail finance option during the payment process.

The company also said that customers can pre-book service appointments by using the Hero App - a part of their digital initiatives to ensure social distancing.

Shares are trading at the day's high - up 4.24% at Rs 2,439. Shares are up for the third straight day.

• Benchmark indices hold on to gains
• Nifty Up 1.55% at 10,299
• Sensex up 1.5% at 34,810
• Nifty Bank up 2.8% at 21,622
• Nifty Midcap Index up 1.7%
• Nifty Smallcap Index up 2.6%
• India Volatility Index up 2.2% to 29.31
• Nifty Pharma remains the only sectoral laggard; down 0.8%
• Nifty I.T., Nifty Metal, Nifty PSU Bank and Nifty Realty up over 2% each
• Nifty Auto Index gains over 1%
• IndusInd Bank remains the top Nifty gainer; up 9.3%
• Cipla is the top Nifty laggard; down 1.7%
• 1,469 stocks on the NSE trade with gains while 304 decline

• Severe impact on manufacturing capabilities due to prolonged lockdown.
• Plants running with a curtailed workforce.
• Expect labour shortage at plants due to movement of migrant labour.
• Revenue in April 2020 was nearly Nil.
• Plants in May were running at 20-25% capacity.
• Ramp-up in capacity utilisation at different plants will demand on location-wise demand.
• Working capital position of the company is impacted and liquidity is under pressure.
• Will see considerable drop in revenue and profitability in FY21, especially in the first two quarters.

Shares are off the day's high after gaining as much as 10%. The stock now trades 3.5% higher at Rs 45.90 and is up for seven out of the last eight trading sessions.