The Indian equity market ended over 1.5 percent higher Wednesday led by banks, auto and financial stocks. The Sensex rallied 789.70 points, or 1.61 percent to 49,733.84, while the Nifty closed 211.50 points, or 1.44 percent higher at 14,864.55. Gains in midcap and smallcap indices supported the rally.
Among sectoral indices, Nifty Bank, Nifty Auto, Nifty Financial Services and Nifty IT gained the most, while losses were seen in metal, pharma and realty indices.
Here are key stocks that moved the most today:
TVS Motor Company shares surged 14 percent as the company's consolidated fourth-quarter net profit rose nearly fourfold year on year to Rs 319.19 crore. Robust sales in the domestic and international markets lifted quarterly revenue from operations nearly 50 percent year on year to Rs 6,131.90 crore.
During the quarter, the company sold 9.28 lakh units--two-wheelers and three-wheelers--a rise of 47 percent over last year. Brokerage firm CLSA said that TVS Motor's 4QFY21 results were significantly ahead of its expectations.
Shares of Bajaj Finance ended more than 8 percent higher at Rs 5,279.15 after the company reported a 42 percent jump in consolidated net profit at Rs 1,347 crore for the fourth quarter of the fiscal ended March 2021. The company's net profit stood at Rs 948 crore in the January-March period of the preceding fiscal year 2019-20.
Net interest income during the quarter dipped 1 percent to Rs 4,659 crore from Rs 4,684 crore in Q4 FY20, it said. Total income fell by 5 percent to Rs 6,855 crore from Rs 7,231 crore earlier.
Gateway Distriparks share price rose 5.75 percent after the company posted robust earnings for the quarter ended March 2021. The company's consolidated net profit rose to Rs 46.1 crore in Q4FY21 against Rs 11.1 crore, while revenue was up 17.1 percent to Rs 350.3 crore versus Rs 299.1 crore, YoY. The company also declared an interim dividend of Rs 5 per share.
Shares of Morepen Laboratories closed 9.42 percent higher at Rs 55.20 after the pharma company's board approved an investment proposed by Switzerland-based Corinth Group.
"The Board of Directors of Morepen Laboratories approved the investment proposed by Corinth Group, a global private investment Group to the extent of USD 32.50 million in the parent company, Morepen Laboratories," the company said in the release.
The investment is part of a $100 million investment in the promoter group, subject to the approval of the shareholders and other regulatory bodies, it added. The remaining $ 67.50 million would be in the promoter group companies.
The stock price hit a 52-week high of Rs 55.45 apiece intraday.