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Sensex Ends 257 Points Higher; Tata Steel & Hindalco Among Top Nifty Gainers
Fri, 7 May Closing

Indian share markets witnessed positive trading activity throughout the day today and ended higher.

Benchmark indices edged higher tracking gains in index majors HDFC twins amid positive cues from global markets.

At the closing bell, the BSE Sensex stood higher by 257 points (up 0.5%).

Meanwhile, the NSE Nifty closed higher by 98 points (up 0.7%).

Tata Steel and Hindalco were among the top gainers today.

Tata Consumer Products and Bajaj Auto, on the other hand, were among the top losers today.

The SGX Nifty was trading at 14,865, up by 69 points, at the time of writing.

The BSE Mid Cap index ended the day on a flat note, while the BSE Small Cap index ended up by 0.2%.

Sectoral indices ended on a positive note with stocks in the metal sector and telecom sector witnessing most of the buying interest.

Shares of Wipro and Bajaj Finserv hit their respective 52-week highs today.

Hero MotoCorp and Tata Consumer Products were among the top buzzing stocks today.

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Asian stock markets ended on a mixed note today, after US indexes gained on positive economic data.

The Nikkei and the Hang Seng ended the day on a flat note, while the Shanghai Composite ended the day down by 0.7%.

US stock futures are trading on a positive note today with the Dow Futures trading up by 64 points.

The rupee is trading at 73.52 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.1% at Rs 47,636 per 10 grams.

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In news from the engineering sector, Praj Industries was among the top buzzing stocks today.

Shares of Praj Industries hit a new high of Rs 276.8 per share, as they rallied 11% on the BSE in intra-day trade today after the company's consolidated net profit more than doubled to Rs 520 million for the quarter ended March 2021 (Q4FY21), on the back of higher operating income.

The company's income from operations during the quarter under review jumped by 91% year-on-year (YoY) to Rs 5.7 billion from Rs 3 billion in the corresponding quarter of the previous fiscal.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) margins improved by 233 basis points (bps) to 13.2% from 10.9% in Q4FY20.

Its order intake during the quarter stood at Rs 6.50 billion. The consolidated order backlog as of 31 March 2021, was at Rs 17.5 billion (FY20 order backlog at Rs 10.8 billion), which comprised 85% domestic orders and 15% international orders.

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The company's management said the activity levels have remained positively elevated with continued traction in enquiries across several business verticals, including some significant order wins.

Praj Industries bagged a prestigious breakthrough order from Hindustan Petroleum Corporation (HPCL) during the quarter for setting up the compressed biogas CBG project at Badaun in Uttar Pradesh.

The company also won an order from Godavari Bio refineries to set up India's largest capacity syrup-based ethanol plant in Karnataka.

On the domestic Bioenergy front, ethanol blending with petrol at an all-India level has reached more than 7.4% in the first five months of the ethanol supply year 2020-21. This is the highest-ever recorded ethanol blending level at an all-India basis.

The government, in order to extend renewables usage across the nation, recently allowed the direct sale of ethanol as a fuel for compatible automobiles. Like petrol and diesel, the centre has allowed the sale of E-100 directly to compatible vehicles.

Praj Industries is a globally leading engineering company with a bouquet of sustainable solutions for bioenergy, compressed biogas, critical process equipment and skids, breweries, industrial wastewater treatment and high purity water.

Praj Industries share price ended the day up by 7.4% on the BSE.

Moving on to news from the auto sector...

Mahindra & Mahindra to Set Up Advanced Design Centre for Mobility Products

Mahindra Advanced Design Europe (MADE) is being set up in the West Midlands, and the new Centre of Excellence (CoE) will be a part of the Mahindra global design network that includes the Mahindra design studio in Mumbai, and Pininfarina design in Turin (Italy).

It will be operational from 1 July 2021, and will also support the creation of highly skilled design roles, drawing from Coventry University, Royal College of Art, and other design colleges in the UK and Europe.

In a statement, Mahindra & Mahindra (M&M) said "MADE is a strategic enhancement of Mahindra's global design capabilities and renews its commitment to bring to its customers, sophisticated, authentic SUVs with an unmissable presence".

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The new design centre will further sharpen Mahindra's distinctive product designs and differentiated technology offerings to further its safe, thrilling, yet efficient connected car experiences, M&M said.

Commenting on the new centre, M&M Executive Director Rajesh Jejurikar said, "A key lever to make the business future-ready is to significantly strengthen design capability across automotive, farm equipment and two-wheelers globally".

"MADE will contribute to all future automotive and mobility products, including Born EV SUVs and be a resource available to Mahindra group companies. It will give us a quantum leap in both capacity and capability in the design space," he added.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

Mahindra & Mahindra share price ended the day up by 2.5% on the BSE.

Speaking of stocks, here is an illustration of the four phases that a stock goes through during its life cycle. The cycle repeats itself after the stock goes through all these four stages.

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If you're interested to know how a stock's life cycle can offer you the opportunity to make money in every phase, you can read about it in one of the recent editions of Profit Hunter: One Cycle That Defines Everything in the Markets

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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Read the latest Market Commentary


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Stock Market Updates

Sensex Trades Marginally Lower, Dow Futures Up by 50 Points (Today's Market)

Sep 17, 2021 12:30 pm

BSE Sensex is trading down by 24 points, while the NSE Nifty is down by 32 points.

L&T at All Time High; BSE CAPITAL GOODS Index Up 0.1% (Today's Market)

Sep 17, 2021 10:09 AM

L&T share price has hit an all time high at Rs 1,738 (up 0.7%). The BSE CAPITAL GOODS Index is up by 0.1%. Among the top gainers in the BSE CAPITAL GOODS Index today are L&T (up 0.7%) and SCHAEFFLER INDIA (up 0.8%). The top losers include SIEMENS and FINOLEX CABLES (down 0.1%).

SBI at All Time High; BSE BANKEX Index Up 0.6% (Today's Market)

Sep 17, 2021 09:55 AM

SBI share price has hit an all time high at Rs 472 (up 0.4%). The BSE BANKEX Index is up by 0.6%. Among the top gainers in the BSE BANKEX Index today are SBI (up 0.4%) and KOTAK MAHINDRA BANK (up 1.3%). The top losers include FEDERAL BANK (down 0.5%) and CITY UNION BANK (down 0.6%).

Sensex Jumps 400 Points to Hit Fresh Record High; Bajaj Finance & ITC Top Gainers (Today's Market)

Sep 17, 2021 09:30 am

Indian share markets scale fresh records. The BSE Sensex opened up by 391 points, while the Nifty is trading higher by 98 points.

TATA ELXSI at All Time High; BSE IT Index Up 0.5% (Today's Market)

Sep 17, 2021 09:41 AM

TATA ELXSI share price has hit an all time high at Rs 5,273 (up 1.6%). The BSE IT Index is up by 0.5%. Among the top gainers in the BSE IT Index today are TATA ELXSI (up 1.6%) and L&T INFOTECH (up 1.0%). The top losers include HEXAWARE TECHNOLOGIES and ECLERX SERVICES (down 0.4%).

TUBE INVESTMENTS OF INDIA at All Time High; BSE CAPITAL GOODS Index Up 0.3% (Today's Market)

Sep 17, 2021 09:41 AM

TUBE INVESTMENTS OF INDIA share price has hit an all time high at Rs 1,495 (up 2.4%). The BSE CAPITAL GOODS Index is up by 0.3%. Among the top gainers in the BSE CAPITAL GOODS Index today are TUBE INVESTMENTS OF INDIA (up 2.4%) and HONEYWELL AUTOMATION (up 0.6%). The top losers include SIEMENS and AIA ENGINEERING .

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Sep 17, 2021 (Close)

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