Indian Indices Trade Higher; Maruti Suzuki & TCS Top Gainers

Thu, 30 Jul 12:30 pm

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Share markets in India are trading on a positive note, tracking gains in Asian peers after the US Federal Reserve kept interest rates at ultra-low levels to support the economy reeling under the Covid-19 pandemic.

The BSE Sensex is trading up by 234 points, up 0.6%, at 38,300 levels. Meanwhile, the NSE Nifty is trading up by 63 points.

The BSE Mid Cap index is trading up by 0.2%. The BSE Small Cap index is trading up by 0.6%.

On the sectoral front, gains are largely seen in the healthcare sector and IT sector.

Telecom stocks, on the other hand, are witnessing selling pressure.

The rupee is trading at 74.85 against the US$.

Gold prices are trading down by 0.1% at Rs 53,115 per 10 grams.

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In news from the pharma space, Dr Reddy's Laboratories is among the top buzzing stocks today.

Shares of the company touched a 52-week high of Rs 4,525, rising more than 5%, a day after the company came out with its June quarter earnings.

The company reported a 12.6% year-on-year (YoY) drop in consolidated net profit at Rs 5.8 billion for the quarter ended June 2020 (Q1FY21).

The profit in the corresponding quarter of the last fiscal stood at Rs 6.6 billion.

Revenue from operations during Q1FY21 stood at Rs 44.2 billion, up 15% YoY.

EBITDA improved 2% YoY to Rs 11.6 billion but margin dropped 320 bps YoY to 26.3%.

Gross margin came at 56% in Q1FY21, up 430 bps over the previous year against 51.7% in Q1FY20 and up 450 bps against 51.5% in Q4FY20.

The company's Pharmaceutical Services and Active Ingredients (PSAI) saw 88% YoY growth on account of higher volumes of certain products, an increase in new product sales and favourable forex.

On the front of segment wise revenue, the India market witnessed a degrowth of 10% YoY while the Europe market grew 48%. North America and Emerging Markets grew 6% and 9%, respectively.

Dr. Reddy's share price is presently trading up by 4%.

To know more, you can read Dr Reddy's latest result on our website.

Here's an interesting data on Dr. Reddy's Lab, investing just Rs 100,000 in Dr. Reddy's Labs in 1992, it would have given a whopping Rs 4.89 crores in 2014!

Co-head of Research, Tanushree Banerjee believes, the opportunities in the Rebirth of India are not only more profitable than the ones in 1991 but the gains could come faster too.

Moving on, as per an article in a leading financial daily, a sharp recovery in equity markets from its March 2020 low has pushed the value of the equity portfolio of Life Insurance Corporation (LIC) by Rs 1.5 trillion since April.

The insurer's holdings in listed companies at the end of the March 2020 quarter stood at Rs 4.32 trillion, which is now valued at Rs 5.79 trillion, translating into a rise of Rs 1.47 trillion, or 34%.

A large part of the rise in LIC's portfolio value is attributed to over 150% jump in Reliance Industries stock since March 2020 low. LIC holds 5.87% stake in the Mukesh Ambani-controlled company post the rights issue.

IT major Infosys, in which LIC has 7.19% stake, added Rs 111.6 billion in its portfolio.

IDBI Bank where LIC is a promoter and holds 51% added Rs 110.4 billion to the total gain.

Tata Consultancy Services (TCS) added Rs 72.9 billion, while HDFC Bank, ITC, Mahindra & Mahindra (M&M), Housing Development Finance Corporation (HDFC) and Maruti Suzuki India have contributed between Rs 40 billion and Rs 50 billion in LIC's portfolio value.

Meanwhile, out of Nifty 50 companies, LIC has increased its stake in 28 companies by up to 1 percentage point. However, LIC trimmed its holding in seven companies including Britannia Industries, Nestle India, Dr Reddy's Laboratories, Cipla and Bajaj Auto by around 1 percentage point each.

Note that the markets are coming out of a deep fall. An important driver of this rally is the increasing inflow from foreign institutional investors now that the global economies have opened the liquidity tap.

A lot of this money is coming to the midcap and smallcap stocks.

In one of her videos, Richa Agarwal, lead smallcap analyst at Equitymaster, talks about a zero loss strategy that maximizes returns in volatile stock markets.

Tune in to find out more:

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!

Read the latest Market Commentary

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers