homemarket NewsNifty reclaims 10,700 levels, Sensex up almost 300 points

Nifty reclaims 10,700 levels, Sensex up almost 300 points

Nifty reclaims 10,700 levels, Sensex up almost 300 points
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By CNBC-TV18 May 7, 2018 4:24:35 PM IST (Updated)

Indian market on Monday closed at day’s high, tracking positive global cues.

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The Sensex surged 293 points to 35,208, while the Nifty closed at 10,716, gaining 97 points.
Broader markets also moved in line with benchmarks. The Nifty Bank advanced 207 points to 25,852 and Midcap Index moved 148 points higher to 19,868.
Major stocks that helped market close at day’s high were Reliance, ITC, ICICI Bank and M&M, while TCS, HDFC Bank and Coal India have been major drags.
Anil Ambani-led Reliance group stocks were in focus on Monday's trade after Reliance Infra won order of Rs 7,000 crore for the Bandra-Versova sea link project. Ajay Srivastava of Dimensions Corp Fin says, Q4 earnings are not showing a compelling growth picture. And, he does not see any fresh buying triggers.
On the earnings front, Exide Ind reported operationally strong earnings with margin coming in at 13.7% against the poll of 12.9%. Inox leisure reported sharp surge in profit on the back of tax returns for the last year. And, Vijaya Bank slipped from highs as provision coverage ratio slipped to 59.4% from 64.3%.
In the futures market, Put options continue to see more traction with the Nifty 10,600 and 10,500 Put calls adding 7 lakh and 3 lakh shares each in the open interest. The Nifty May Futures premium narrows to 26 points against Friday’s 41 points. Exide, Wockhardt and Ujjivan have the most active stocks in derivatives market.
On the global front, Asian markets closed mixed as WTI crude topped $70. The Nikkei and the Kospi ended in the red, while the Shanghai and the Hang Seng see a positive close.
Stocks: Exchange Announcements
Zee Learn Q4: Consolidated net profit up 0.6% at  Rs 17.4 crore; revenue up 34.3% at  Rs 89.8 crore (Y-o-Y)
Zee Learn Q4: Consolidated EBITDA up 81% at Rs 36 crore and margin at 40.2% against 29.8% (Y-o-Y).
Inox Leisure Q4: Consolidated net profit at 57.7 crore against CNBC-TV18 Poll of Rs 9 crore; one-time gain of Rs 53.7 crore.
Exide Q4: Net profit at Rs 189.6 crore against CNBC-TV18 poll of Rs 190 crore; EBITDA at Rs 338 crore against poll of Rs 312 crore and margin at 13.7% against poll of 12.9%.
Vijaya Bank Q4: Net profit at Rs 207.3 crore against Rs 204 crore. Gross NPA at 6.34% against 6.17% and Net NPA at 4.32% against 3.99%  and provision coverage ratio at 59.4% against 61.3% (Q-o-Q).
Dwarikesh Sugar Q4: Net loss at Rs 9.2 crore against profit of Rs 46 crore; EBITDA loss at Rs 12.3 crore against profit of Rs 120 crore (Y-o-Y).
Firstsource Q4: Profit at Rs 92.8 crore against Rs 99.5 crore, EBITDA margin at 14.7%  against 13.1% (Q-o-Q).
Infibeam  said they are acquiring Unicommerce eSolutions from Snapdeal for Rs 120 crore.
Karur Vysya Bank shareholding: Rakesh Jhunjhunwala buys Additional 20 lakh shares in January-March quarter.
Manpasand Bev and Parle joined hands to distribute brands in western markets.
Sadbhav Engg said the company bagged order worth Rs 317.1 crore from Southeastern Coalfields.
Sagar Cements said their consolidated April sales up 34.7% at 2.5 lakh tonne (Y-o-Y)
Stocks in Focus
Supreme Court on Monday refused to stay Delhi High Court order revoking patent claimed by Monsanto.
Nestle agreed to market Starbucks products globally.
Jaypee Infratech lenders meet on Monday to consider highest bid.
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