Live: Sensex, Nifty Edge Higher; Rupee Opens Unchanged
Markets At 10:10 A.M.
- Benchmark indices trade with gains
- Nifty up 0.35% at 11,347
- Sensex up 0.27% at 38,474
- Nifty Bank up 0.6% at 22,394
- Nifty Midcap index up 1%
- Nifty Smallcap index up 1.1%
- India Volatility Index down 1.6% to 20.51
- Nifty Metal is the top sectoral gainer; up 1.6%
- Nifty Media and Nifty I.T. gain over 1% each
- Hindalco is the top gainer on the Nifty; up 4.2%
- Bharti Airtel is the top laggard on the Nifty; down 2%
- 1,196 stocks on the NSE trade with gains while 473 decline
Money Market Update
The currency has opened flat in today's trading session after snapping a two-day gaining streak on Wednesday.
The rupee opened at 74.82 against the U.S. Dollar which was the same level at which it closed on Wednesday.. Analysts at HSBC expect India's GDP to shrink 7.2% this year and believe that the Reserve Bank of India may cut interest rates again in the December policy.
Focus will be on the July CPI data which is expected to rise 6.27%, according to a Bloomberg survey.
Coronavirus India Update
- India reports biggest single-day spike in new Covid-19 cases
- 66,999 new cases reported over the last 24 hours
- Total number of confirmed cases at 23,96,637
- Active cases now at 6,53,622
- Number of patients cured / discharged / migrated at 16,95,982
- Death toll rises to 47,033
- 942 deaths reported in the last 24 hours
- 56,383 patients recovered in the last 24 hours
Stock Reaction: InterGlobe Aviation
Shares of the airline carrier is up for the second straight day after a 10% surge on Wednesday.
Jwalamukhi Investment Holdings acquired 54.35 lakh shares of the airline in a large trade on Wednesday, amounting to 1.41% stake. The deal was done at Rs 1,028 per share.
The shares were sold by Kotak Mahindra (International), as per data available on the exchanges.
Shares are trading at the day's high, gaining as much as 8% to Rs 1,117. The stock trades at the highest level in two months.
Earnings Reaction: Aurobindo Pharma Q1FY21
- Revenue up 8.8% to Rs 5,924.8 crore
- Net profit up 22.8% to Rs 780.6 crore
- Ebitda up 9.7% to Rs 1,257.4 crore
- Ebitda margin at 21.2% from 21.1%
- R&D spend at Rs 254.5 crore or 4.3% of revenue
- U.S. business up 15.6% to Rs 3,107.1 crore
- European business revenue down 5% to Rs 1,322.2 crore
- Revenue from Growth markets formulations down 7.6% to Rs 289.6 crore
- ARV business revenue up 33.6% to Rs 425.5 crore
- API business revenue up 6.5% to Rs 780.2 crore
- Forex gain of Rs 22.2 crore this quarter
- Net debt down to Rs 1,444.8 crore from Rs 2,718.4 crore in March
- All numbers are consolidated and compared on a year-on-year basis
Shares fell to the day's low, declining as much as 4.7% to Rs 890. The stock is down for the third straight day.