Indian indices ended flat on Wednesday as losses in IT, FMCG and financial stocks were capped by gains in auto, metals and pharma sectors.
The Sensex ended 85 points lower at 51,849 while the Nifty was up 1 point to settle at 15,576. Broader markets, however, outperformed with the midcap and smallcap indices up 1-1.5 percent.
On the Nifty50 index, UPL, Tata Steel, Hindalco, JSW Steel and RIL were the top gainers while ITC, Tech Mahindra, Axis Bank, Asian Paints and HDFC led the losses.
Here are the key stocks that moved today:
Adani Ports: Shares of Adani Ports and Special Economic Zone rose 2 percent after the company reported an improvement in operational performance in May. In a BSE filing, the company said that its handled cargo volume for May stood at 25.65 MMT, up 79 percent on a year-on-year basis. In the container segment, the company registered a rise of 67 percent in handled volume at 0.72 MN TEU’s in May.
Gujarat Gas: The share price of Gujarat Gas rallied 5 percent after the company reported strong earnings for the fourth quarter of fiscal 2021. The City Gas Distribution (CGD) company posted a consolidated profit of Rs 350.86 crore in Q4FY21, registering a growth of 40.1 percent over Rs 250.46 crore reported in the year-ago period. The company’s revenue jumped 28.2 percent to Rs 3,489.31 crore from Rs 2,722.17 crore, YoY. The company’s average gas sales volume for the quarter was at 12.13 mmscmd, up by 22 percent compared to the corresponding quarter the previous year.
ITC: The share price of ITC fell nearly 3 percent after the company posted a 1.3 percent decline in standalone net profit for the quarter ended March 2021 at Rs 3,748.4 crore as compared to Rs 3,797 crore in the year-ago quarter. Standalone revenue from operations during Q4FY21 grew by 22.6 percent to Rs 13,294.7 crore from Rs 10,842.2 crore, YoY. At the operating level, EBITDA rose by 7.4 percent to Rs 4,473 crore from Rs 4,163.5 crore, while EBITDA margin contracted 480 bps to 33.6 percent from 38.4 percent, YoY.
Motherson Sumi: Shares of Motherson Sumi surged 15 percent after the firm's profit zoomed 289 percent in the March quarter. The company's net profit rose to Rs 713 crore, beating analyst estimates. The company’s consolidated total revenue from operations jumped 17.6 percent on-year to Rs 16,971.9 crore.
Century Enka: Shares of Century Enka were locked in the 20 percent upper circuit band at Rs 396.60 on the back of heavy volumes. In the past one month, the stock of the company, engaged in the manufacturing of synthetic yarn, has zoomed 58 percent as compared to a 5.6 percent rise in the S&P BSE Sensex.
(Edited by : Pranati Deva)