The Indian equity market ended over 1 percent higher Monday led by gains in metals, banks and financial stocks amid positive global cues. The Sensex gained 508.06 points, or 1.06 percent to 48,386.51, while the Nifty ended 143.65 points, or 1.00 percent higher at 14,485.00.
Broader markets, smallcap and midcap indices supported the rally closing with strong gains.
Among sectors, Nifty Realty gained the most over 4 percent followed by Nifty Metal, Nifty PSU Bank, Nifty FMCG and Nifty IT. Selling was seen in the pharma index.
ICICI Bank share price gained 3.6 percent after the private lender reported a massive 260.5 percent year-on-year (YoY) growth in standalone profit at Rs 4,402.61 crore for the fourth quarter of fiscal 2021. The bank's profit in the corresponding period of last year stood at Rs 1,221.4 crore.
ICICI Bank's fourth-quarter results showed its net interest income (NII) in Q4FY21 grew by 16.9 percent to Rs 10,431.13 crore from Rs 8,926.9 crore, YoY. Its net interest margin (NIM) at 3.84 percent expanded sequentially but contracted marginally on a YoY basis from 3.87 percent.
The stock price jumped over 6 percent intraday.
HCL Technologies share price declined almost 3 percent after the IT major's March quarter earnings showed a sharp 25 percent sequential drop in its net profit. HLC Tech reported a consolidated profit of Rs 2,962 crore for the quarter ended March 2021 as against a profit of Rs 3,982 crore in the previous quarter.
The IT company's revenue from operations during Q4FY21 rose 1.8 percent to Rs 19,642 crore from Rs 19,302 crore, QoQ, while the revenue in dollar terms increased 3 percent sequentially to $2,696 million. It missed CNBC-TV18 poll revenue estimates of 3.6 percent growth on a QoQ basis.
Natco Pharma share price closed 4.23 percent higher after the company said it is seeking an emergency approval of Molnupirair capsules for the COVID-19 treatment.
Natco Pharma has applied to the Central Drugs Standard Control Organisation (CDSCO) in India for approval of Phase 3 clinical trial of the drug for the treatment of the COVID-19 positive patients.
The share price of Reliance Industries Ltd (RIL) gained 1.7 percent after the company and BP announced the commencement of production from the Satellite Custer gas field in block KG D6 off the east coast of India.
RIL and BP have been developing three deep-water gas developments in block KG D6 – R Cluster, Satellite Cluster and MJ – which together are expected to produce around 30 mmscmd (1 billion cubic feet a day) of natural gas by 2023, meeting up to 15 percent of India’s gas demand, RIL said in a regulatory filing.
Shares of Mphasis ended more than 1 percent higher after jumping over 6 percent intraday after the company announced that private equity firm Blackstone has committed up to $2.8 billion to acquire a controlling stake in the company. The stock price jumped as much as 6.32 percent intraday.
Blackstone said funds managed by it have entered into definitive agreements to acquire a majority stake in Mphasis, and the transaction will trigger an open offer for the acquisition of up to 26 percent stake. A wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), UC Investments (Office of the Chief Investment Officer of The Regents, University of California) and others will co-invest along with Blackstone.
Coffee Day Enterprises shares were locked in a 5 percent lower circuit, eight months after trading resumed in the scrip. The stock got re-listed at Rs 48.50 per share on National Stock Exchange (NSE) and at Rs 50.30 per share on the Bombay Stock Exchange (BSE).
The stock price of Meera Industries ended 4.35 percent higher after company received a domestic order worth Rs 3.45 crore. Dodhia Synthetics Ltd, one of the largest exporters of carpet yarns from India has ordered 3 Sets of CT-260 Twister/Cabler machines, the company said.