
Statues of a bear and a bull sit on a windowsill at a stock exchange. (Photographer: Alex Kraus/Bloomberg)
Live: Sensex, Nifty Up 1%; Nifty Bank Gains 200 Points
Top Nifty Gainer: Coal India
- Snaps seven-day losing streak
- Seven-day losing streak was the longest in a month
- Gains as much as 7.9% to Rs 139.7
- Biggest single-day gain since May 19, 2014
- Today's volumes are five times higher than its 30-day average
- Trading at a 53% discount to its peers on a blended forward EV/Ebitda basis.
- Trading at its 50-Day Moving Average of 136.6
- 25 out of the 27 analysts tracking the stock have a buy recommendation; 0 sell calls
- Return potential for the stock as per Bloomberg data is 46.7%
Covid-19 Update: Carborundum Universal
- Some plants resumed operations from mid-April.
- Lockdown in different phases impacting demand and supply.
- Lockdown to have adverse impact on Q1FY21 earnings.
- Not in a position to quantify the full impact of the pandemic on the business.
- Conditions which will impact the company's performance are highly uncertain and unpredictable.
- Do not foresee any material impact on capital and financial resources.
- Debt-free company and providing necessary liquidity to meet financial obligations. Demand for products should revive once the end user industries pick up.
Shares trade with little gains at Rs 242 after rising as much as 1.3%.
PSUs Gain After Government Withdraws 96% Of Telecom Demand
Markets At Noon
- Benchmark indices trade at the day's high
- Nifty up 0.6% at 9,940
- Sensex up 0.45% at 33,657
- Nifty Bank up 0.3% at 20,264
- Nifty Midcap Index up 0.8%
- Nifty Smallcap Index up 1.2%
- India Volatility Index down 4.2% to 31.96
- Nifty Auto, Nifty Pharma the only sectoral laggards
- Nifty Metal Index is the top sectoral gainer; up 2.2%
- Nifty Media (up 1.3%), Nifty Realty (up 0.7%) and Nifty PSU Bank (up 0.8%) are the other gainers
- Coal India is the top Nifty gainer; up 6%
- Maruti Suzuki is the top Nifty laggard; down 1.5%
- 1,247 stocks on the NSE gain while 478 decline
Stock Update: Hindustan Copper
- Among top performers on the Nifty Smallcap Index
- Gains as much as 6.8% to Rs 30.7
- Snaps five-day losing streak
- Five-day losing streak was the longest since December 2019
- Has declined in six out of the last 10 trading sessions
- Today's volumes are 1.6 times higher than its 30-day average
- Trading around its 100-Day Moving Average of 29.7
- Has gained over 60% from its 52-week low of Rs 18 on March 24, 2020