INSUBCONTINENT EXCLUSIVE:
Heavy buying in shares of HDFC Bank after its strong performance in March quarter helped the benchmark indices close with gains, but a rise
in Covid toll capped gains on Monday.
HDFC Bank jumped 4 per cent while its PSU bank counterparts UCO Bank, Central Bank of India and J-K
Bank rose 20 per cent each
Tata Motors also registered healthy gains despite it reporting a drop in global sales.
BSE flagship Sensex closed 59 points, or 0.19 per
coronavirus cases is still a major cause of concern
As the earnings season progresses, the market may see a lot of stock-specific movement and hence we would advise participants to continue
Nifty Smallcap gained 0.36 per cent to Rs 4,105 while Nifty Midcap rose 0.51 per cent to 13,111
The Nifty500 ended flat at 7,617.
PSU bank stocks rallyShares of PSU banks rallied in Monday's trade
Central Bank, UCO Bank and J-K Bank advanced 20 per cent each, hitting upper circuit limits
Indian Overseas Bank, Indian Bank and Bank of Maharashtra rose 10-18 per cent
They included YES Bank, Simplex Castings, Ritco Logistics, Deccan Healthcare, Meera Industries, R Systems, Madhav Infra and NHC Foods, among
others.
Infy gains ahead of Q4 nosShares of information technology giant Infosys jumped ahead of quarterly earnings scheduled for release
The stock closed 3.75 per cent higher at Rs 652
Later in the day, the company reported a 6.10 per cent year-on-year (YoY) rise in consolidated March quarter profit at Rs 4,321 crore
compared with Rs 4,074 crore reported for the same period last year.
TaMo shrugs dismal sales dataTata Motors said its group global whole
However, shares of the company gained 4.75 per cent to Rs 80.50.
Kotak Bank lowers deposit ratesKotak Mahindra Bank, the fourth largest
private sector lender, slashed interest rates on savings deposits for the second time this month
The stock fell 0.75 per cent to Rs 1,177 following the news.
TVS Motor gains on Norton dealShares of TVS Motor jumped 2.01 per cent to Rs
307.45 after the company said it acquired Britain's iconic bike manufacturer Norton Motorcycles for GBP 16 million (around Rs 153
crore).
HDFC Bank gains on Q4 showShares of HDFC Bank advanced 3.91 per cent to Rs 946 after the lender over the weekend posted a 15.4 per
cent rise in consolidated net profit for March quarter on healthy interest income.
Only buyers for MEP InfraShares of MEP Infra jumped 5 per
cent to the upper circuit of Rs 13.27 after the government allowed it to resume collecting tolls in Mumbai
There were over 9 lakh pending orders for the scrip
Nalco jumps 7%Shares of National Aluminium Company spiked 6.88 per cent to Rs 34.20 after the entity was granted a mining lease of the
Utkal-D coal block by the Odisha government.