Equity indices were trading with strong gains in morning trade. The Nifty traded above the 14,800 mark. Barring the Nifty Auto index, all sectoral indices on the NSE were trading in the green.
At 10:28 IST, the barometer index, the S&P BSE Sensex, added 371.26 points or 0.76% at 49,321.73. The Nifty 50 index was up 103.40 points or 0.7% at 14,828.05.
In broader market, the S&P BSE Mid-Cap index was up 0.04% while the S&P BSE Small-Cap index was gained 0.47%.
The market breadth was strong. On the BSE, 1658 shares rose and 911 shares fell. A total of 133 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 155,650,258 with 3,251,960 global deaths.
Tracking a firm set of cues from global peers, Indian markets too looked set to open higher today, with SGX Nifty ruling 71 points up at 14,868 around 7.15 am. However, another record jump in fresh Covid cases in the country could cap gains for the index. Quarterly numbers and stock-specific triggers could also sway the market trajectory. India in the last 24 hours reported a record over 4.14 lakh fresh Covid cases while the death toll stood at 3,927. It for the second day in a row that India has reported cases over 4 lakh. But a mathematical model prepared by advisers to Prime Minister Narendra Modi suggests India’s coronavirus outbreak could peak soon by mid-May, in line with the forecasts by some other scientists.
Here are the top stocks to track in today s session:
Earnings Today: A total of 25 companies are slated to post their March quarter numbers today, including HDFC, UltraTech Cement, Dabur India and Kansai Nerolac Paints. Backed by a strong individual loan book, healthy net interest income (NII), and fewer provisions, Street expects mortgage lender HDFC to report a nearly 50 per cent year-on-year (YoY) increase in net profit for the March quarter of FY21 (Q4FY21).
Tata Consumer Products: The company reported a consolidated net profit of Rs 53.9 crore for the March quarter of FY21 as against a net loss of Rs 76.5 crore in the same quarter during the preceding fiscal. The company’s consolidated revenue from operations for the quarter surged 26 per cent YoY to Rs 3,037.2 crore.
Kansai Nerolac Paints Ltd on Friday reported an increase of 89.14 per cent in its consolidated net profit to Rs 123.62 crore for the fourth quarter ended March 2021. The company had posted a net profit of Rs 65.36 crore in the January-March quarter a year ago, Kansai Nerolac said in a BSE filing. Its total revenue from operations was up 35.14 per cent at Rs 1,459.57 crore during the quarter under review compared to Rs 1,080.07 crore in the corresponding quarter of the previous year.
Kansai Nerolac Paints Vice Chairman and Managing Director H M Bharuka said: The quarter saw continued strong demand for both Decorative and Industrial Paints. Both Decorative and Industrial witnessed high double-digit volume growth in the quarter.
Kansai Nerolac Paints Q4 results: Net profit rises 89% to Rs 124 crore
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Last Updated: May 07, 2021, 07:09 PM IST
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Synopsis
Its total revenue from operations was up 35.14 per cent at Rs 1,459.57 crore during the quarter under review compared to Rs 1,080.07 crore in the corresponding quarter of the previous year.
The company had posted a net profit of Rs 65.36 crore in the January-March quarter a year ago, Kansai Nerolac said in a BSE filing.
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NSE
NEW DELHI:
Kansai Nerolac Paints Ltd on Friday reported an increase of 89.14 per cent in its consolidated net profit to Rs 123.62 crore for the fourth quarter ended March 2021.