All the sectoral indices ended in the green, with auto, energy, infra, pharma, metal, and PSU bank indices rising 1-3 percent. BSE midcap and smallcap indices gained nearly a percent each.
May 10, 2021 / 05:03 PM IST
The benchmark indices ended higher for the fourth straight session on May 10, helped by metal and pharma names. At close, the Sensex was up 295.94 points, or 0.60 percent, at 49,502.41, and the Nifty was up 119.20 points, or 0.80 percent, at 14,942.40.
Jindal Steel & Power | CMP: Rs 490 | The stock added 2 percent after the company made prepayment to its term lenders. The firm announced that it made a prepayment of Rs 2,462 crore to its term lenders. “This is in continuation of its long-stated financial strategy of debt reduction and building a robust balance sheet with the optimum capital mix,” the company said in the release.
InterGlobe Aviation | CMP: Rs 1,679.95 | The share price added over 2 percent after the parent of the country’s largest airline IndiGo said it planned to explore all options to raise funds to increase its liquidity amid the aviation sector grappling with coronavirus pandemic woes. The board of the company, during a meeting on May 7, deliberated the possibility of raising funds through the qualified institutional placement route, Mint reported.
Vivimed Labs | CMP: Rs 28.35 | The share price jumped 5 percent after the company received approval from the government to manufacture and market favipiravir tablet. Vivimed Labs announced that the company received the Government of India’s approval to manufacture and market favipiravir tablet 200 mg & 400 mg under Vivimed’s own brand name “Favulous” across India. It is used for treating mild to moderate cases of COVID-19, the company said in an exchange filing.
DCB Bank | CMP: Rs 92.85 | The stock was up 2 percent after the private lender reported a 13 percent increase in net profit to Rs 78 crore for the January-March quarter from Rs 69 crore in the year-ago quarter. The bank’s total income during the quarter fell to Rs 971 crore from Rs 1,012 crore in the same quarter of 2019-20, DCB Bank said in a regulatory filing.
UltraTech Cement | CMP: Rs 6,399 | The scrip ended in the red on May 10. The country’s largest cement manufacturer on May 7 registered a 45.2 percent year-on-year (YoY) decline in consolidated profit at Rs 1,775.23 crore for the quarter ended March 2021. But the adjusted profit grew by 57 percent, compared to Rs 1,129 crore in the year-ago quarter.
Venky’s (India) | CMP: Rs 1,680.80 | The stock gained over 2 percent after the company reported Q4 net profit at Rs 77.9 crore against a loss of Rs 96.7 crore in the year-ago quarter. The company’s revenue was up 42.4 percent at Rs 941.4 crore against Rs 660.9 crore, YoY.
HDFC | CMP: Rs 2,529 | The stock added over a percent after the company reported an 8.7 percent sequential growth in the March quarter profit at Rs 3,180 crore, beating estimates. Net interest income fell 0.1 percent to Rs 4,065 crore in Q4FY21 from Rs 4,068 crore in the previous quarter. Housing Development Finance Corporation said the board of directors recommended a dividend of Rs 23 per equity share for the financial year 2020-21.
Dr. Reddy’s Laboratories | CMP: Rs 5,334 | The share price gained 3 percent after the Institute of Nuclear Medicine and Allied Sciences developed an anti-COVID-19 therapeutic application of drug 2-deoxy-D-glucose (2-DG) that helps in faster recovery of hospitalised patients and reduces supplemental oxygen dependence. The drug, approved by the DCGI, has been developed in collaboration with Dr Reddy’s Labs in Hyderabad.
Bandhan Bank | CMP: Rs 294.35 | The scrip ended in the red on May 10 after the private lender reported a steep 80.1 percent year-on-year decline in profit at Rs 103 crore in March 2021 quarter. Profit in the year-ago quarter was at Rs 517.3 crore. CLSA has downgraded the stock to “underperform” from “outperform “and has cut the target to Rs 300.
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