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As Nifty50 Heads Towards 40,000

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Sensex Today Ends 240 Points Higher | Auto Stocks Shine | M&M Gains 4%, Tata Motors 3%
Mon, 5 Jun Closing

Sensex Today Ends 240 Points Higher | Auto Stocks Shine | M&M Gains 4%, Tata Motors 3%

After opening the day higher, Indian share markets continued their momentum as session progressed and ended the day higher.

Benchmark indices inched higher today powered by sustained gains in auto stocks and tracking the mood in the broader Asian market, as mixed US jobs data bolstered bets that the Federal Reserve may skip an interest rate hike later this month.

At the closing bell, the BSE Sensex stood higher by 240 points (up 0.4%).

Meanwhile, the NSE Nifty closed up by 60 points (up 0.3%).

Axis Bank, L&T, and Grasim were among the top gainers today.

Tech Mahindra, Asian Paints and Nestle on the other hand, were among the top losers today.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

The SGX Nifty was trading at 18,710, up by 81 points, at the time of writing.

Broader markets ended on a positive note. The BSE Midcap index ended 0.3% higher and BSE SmallCap ended 0.5% higher.

Sectoral indices ended on a mixed note with stocks in the capital goods sector, auto sector and power sector witnessing most of the buying.

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On the other hand, stocks from the FMCG sector and IT sector witnessed selling pressure.

Shares of Procter & Gamble Health and Hindustan Aeronautic hit their 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Asian stock markets ended on a positive note. The Nikkei ended higher by 2.2%. while the Hang Seng ended 0.8% higher. The Shanghai Composite ended marginally higher.

The rupee is trading at 82.67 against the US$.

Gold prices for the latest contract on MCX are trading marginally lower at Rs 59,530 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading lower by 0.2% at Rs 71,874 per kg.

Speaking of stock markets, PVR INOX?is down almost 40% from its 52-week highs. The correction seems a result of the stock running into a few business challenges.

But has the correction been overdone? More importantly, are the fundamentals still strong enough for the stock to be a good long-term bet?

Rahul Shah,  Co-head of Research at Equitymaster, answers all these questions in the video below.

TCS's new contract win

In news from the IT sector, Tata Consultancy Services (TCS) today bagged a 10-year contract from the Department for Education (DfE) to administer and further enhance customer experiences for the Teachers' Pension Scheme in England and Wales.

The Teachers' Pension Scheme is the UK's second largest public sector pension scheme, with over 2 million members.

TCS will deliver a digital-first, self-service pension experience, giving scheme employers and members anytime, any-channel access to their account information and personalized insights.

TCS is the largest provider of software and IT services in the UK, with a large and diverse workforce, spread across 30 locations around the country.

As part of the partnership with DfE, TCS plans to expand its already significant presence in the UK life and pensions industry by establishing a service hub in Darlington.

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Tata Consultancy Services (TCS) is a bright shining star in the galaxy of Tata Group companies.

TCS has been one of the favourite stocks of investors because of the performance it has delivered since its listing.

If you had invested Rs 1 lakh in TCS shares at the issue price of Rs 850 in the IPO in 2004, the value of that investment today would be around Rs 3,176,000, a return of almost 3,000% by August 2022.


With strong fundamentals, it stands among the 5 best long-term companies of 2023.

Lupin's share price hit a 52-week high today. Here's why...

Moving on to news from the pharma sector, Lupin shares gained 2% and touched a 52-week high today on the back of launching Darunavir tablets.

Lupin, on Saturday, announced the launch of Darunavir Tablets, 600 mg and 800 mg, to market a generic equivalent of Prezista Tablets of Janssen Products, LP.

Darunavir tablets are indicated for the treatment of HIV-1 infections. The drug is taken with other HIV drugs to help control HIV infection.

Darunavir Tablets, 600 mg and 800 mg had estimated annual sales of USD 308 million in the US.

Lupins wholly owned subsidiary Novel Laboratories Inc, based in Somerset, New Jersey, has recently received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Diazepam Rectal Gel.

Lupin, one of the top pharma companies in India, is losing its shine it fell sharply in 2022. To know what triggered the fall, check out why Lupin's share price is falling.

Patel Engineering bags order from CIDCO

Moving on to news from the engineering sector, shares of Patel Engineering were locked in an upper circuit of 5% today after the company announced a letter of acceptance (LoA) for a new order from CIDCO.

The company informed the exchanges that it has received a project worth Rs 5.2 billion (bn) for the construction of a water tunnel in Maharashtra from the City and Industrial Development Corporation (CIDCO), Government of Maharashtra.

The treated water tunnel will have a length of 6.7 km and along with the construction of associated works from SAi Village to Vindhane Village in the Raigad district of Maharashtra.

The project will be executed without the involvement of any joint venture partnership. The project is expected to be completed and delivered within a stipulated period of 60 months.

And for a fundamental analysis of Patel Engineering, check out Equitymaster's Indian stock screener, which has a separate screen for top engineering companies in India.

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

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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