Live: Sensex\, Nifty Near Day’s High; BPCL Extends Gains To 8%

Live: Sensex, Nifty Near Day’s High; BPCL Extends Gains To 8%
The Bombay Stock Exchange (BSE) building stands in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Live: Sensex, Nifty Near Day’s High; BPCL Extends Gains To 8%

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Earnings Reaction: Bajaj Finance Q1FY21

  • Net profit down 19% to Rs 962.32 crore
  • Net Interest Income up 12% to Rs 4,152 crore
  • Loan losses and provisions at Rs 1,686 crore
  • Gross NPA at 1.4% from 1.61% (QoQ)
  • Net NPA at 0.5% from 0.65% (QoQ)
  • Additional contingency provision for Covid-19 at Rs 1,450 crore
  • Overall contingency provision for Covid-19 at Rs 2,350 crore
  • Consolidated Moratorium book down to 15.7% of AUM from 27% of AUM last quarter

Shares fluctuated post the announcement, currently trading 0.7% higher at Rs 3,465.95, per share.

Markets At Noon

  • Benchmark indices hold on to gains
  • Nifty up 1.1% at 11,138
  • Sensex up 1.1% at 37,834
  • Nifty Bank up 1.8% at 22,731
  • Nifty Midcap Index up 0.5%
  • Nifty Smallcap Index up 0.7%
  • India Volatility Index down 2.2% to 24.16
  • Nifty Realty is the top sectoral gainer; up 3.1%
  • Nifty Auto, Nifty Media index up over 1.5% each
  • Nifty PSU Bank holds gains; up 2.1%
  • Nifty Pharma, Nifty Metal, Nifty I.T. and Nifty FMCG are the sectoral laggards; down between 0.1 to 0.8%
  • BPCL remains the top Nifty gainer; up 7%
  • Britannia is the top Nifty laggard; down 1.8%
  • 1,052 stocks on the NSE trade with gains while 688 decline

Buzzing Stock: CDSL

  • Trading at the highest level since February 2018
  • Gains as much as 3.2% to Rs 324.85
  • Up for the third straight day
  • Longest winning streak in two weeks
  • Has gained 11.1% in the last three trading sessions
  • Today's volumes are more than double its 20-day average
  • Stock trading in overbought territory with Relative Strength Index (RSI) at 72
  • Has recovered 81% from its 52-week low of Rs 179 on March 23, 2020
  • Four out of the five analysts tracking the stock have a buy recommendation; 1 sell call
  • The stock trades 14.5% above its 12-month consensus price target of Rs 275, implying a negative return potential

Auto Stocks In Top Gear

Stock Reaction: Info Edge India

The company, through its wholly-owned subsidiary has entered into an agreement to invest up to Rs 10.6 crore in Bizcrum Infotech.

The investment falls under the related party transaction as Bijnis is an associate company of Info Edge. The transaction is done at arm's length basis, the company said in an exchange filing.

The Rs 10.6 crore investment will result in Info Edge acquiring 28.22% stake on fully converted and diluted basis.

Bijinis is in the business of building a B2B platform primarily focused on fashion and lifestyle verticals, solving the problem of discovery, payments and logistics by bridging the gap between suppliers and retailers.

Shares recovered from the day's low, gaining as much as 1.33% to Rs 3,298. The stock is up for the sixth straight day - its longest winning streak since November 2019 and is trading at an all-time high.