Read more about Laxmi Organic Industries consolidated net profit rises 261.95% in the March 2021 quarter on Business Standard. Sales rise 34.41% to Rs 519.52 crore
The main equity indices traded with decent gains in morning trade. The Nifty traded near the 15,300 mark. Metal stocks witnessed value buying while banks stocks corrected. The moderation in daily new COVID-19 cases in India improved investors risk appetite. Upbeat Asian stocks also boosted sentiment.
At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 194.16 points or 0.38% at 50,846.16. The Nifty 50 index was up 73.05 points or 0.48% at 15,270.45.
In broader market, the S&P BSE Mid-Cap index was up 0.54% while the S&P BSE Small-Cap index was gained 0.78%.
The market breadth was strong. On the BSE, 1897 shares rose and 820 shares fell. A total of 122 shares were unchanged.
Here are the top stocks to track in today s session:
Earnings Today: IOC, Indiabulls Housing Finance, JK Tyre & Industries, Tanla Platforms and Zuari Agro Chemicals are among 25 companies slated to post their March quarter results today.
Tata Motors: Auto major Tata Motors reported a surprise consolidated net loss of Rs 7,605 crore for the quarter ended March 31, 2021, mainly on account of asset write downs in subsidiary Jaguar Land Rover (JLR). According to a consensus estimate of Bloomberg, Tata Motors was expected to report a net profit of Rs 2,774.10 crore.
Axis Bank: The government will sell nearly 2 per cent stake in Axis Bank held through Specified Undertaking of the Unit Trust of India (SUUTI), a move that’s expected to fetch around Rs 3,969 crore to the exchequer in divestment receipts. The government will sell its 1.21 per cent stake or 36 million shares in Axis Bank with the floor price set at Rs 680 a share.
Volatility struck bourses in early trade as the key benchmark indices regained positive zone soon after opening lower. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 47.04 points or 0.09% at 50,240.37. The Nifty 50 index was up 21 points or 0.14% at 15,129.10.
The S&P BSE Mid-Cap index was up 0.82%. The S&P BSE Small-Cap index was up 0.69%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1573 shares rose and 673 shares fell. A total of 106 shares were unchanged.
Stocks in news:
Tata Motors lost 4.86%. On a consolidated basis, Tata Motors reported net loss of Rs 7,605.40 crore in Q4 FY21 lower than net loss of Rs 9,894.25 crore in Q4 FY20. Total revenue from operations during the quarter increased 41.8% year-on-year (YoY) to Rs 88,627.90 crore in Q4 FY21.