A statue of Mercury, the Roman god of trade, inside the Amsterdam Stock Exchange. (Photographer: Yuriko Nakao/Bloomberg)
Live: Sensex, Nifty Advance; Hindustan Zinc At 52-Week High
Monetary Policy Announcement Today
Buzzing Stock: Hindustan Zinc
- Among top performers on the Nifty 500 index
- Trades at the highest level since July 2019
- Gains as much as 7.9% to Rs 236
- Up for the third straight day
- Has gained 13% in the last three trading sessions
- Today's volumes are more than eight times higher than its 20-day average
- The stock trades in overbought territory with Relative Strength Index (RSI) at 75
- Has doubled from its 52-week low of Rs 116 on March 13, 2020
- 15 out of the 22 analysts tracking the stock have a buy recommendation; 1 sell call
- The stock trades 10.9% above its 12-month consensus price target of Rs 207.7, implying a negative return potential
Coronavirus India Update
- 14th straight day of cases above 50,000
- 56,282 new cases reported over the last 24 hours
- Total confirmed cases at 19,64,536
- Active cases now at 5,95,501
- Patients cured / discharged / migrated at 13,28,336
- Death toll rises to 40,699
- 904 deaths reported over the last 24 hours
- 46,121 patients recovered in the last 24 hours
Earnings Reaction: JK Lakshmi Cement Q1FY21
- Revenue down 20.8% to Rs 825.2 crore
- Net profit up 12.7% to Rs 44.4 crore
- Ebitda down 15.6% to Rs 143.4 crore
- Ebitda margin at 17.4% from 16.3%
- Exceptional loss of Rs 30 crore in the base quarter
- Lower power, fuel and freight costs aid margins
- Further enhancing its WHR power capacity by 10 MW, which is likely to be commissioned during the first half of FY22.
- All numbers are standalone and compared on a year-on-year basis
Shares fell as much as 6% to Rs 280, down for the second straight day.
Contributors To Nifty's Gains
Bloomberg Quint
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