Indian indices ended at record close on Monday led by gains in energy, IT and banking stocks. Heavyweights RIL, TCS and ICICI Bank contributed the most to the indices.
The sentiment was also lifted as some states eased lockdowns and daily COVID-19 cases in the country hit a two-month low.
The Sensex ended 228 points higher at its new closing high of 52,328 while the Nifty rose 81 points to settle at a record closing of 15,751.
Broader markets outperformed benchmarks for the day with the midcap and smallcap indices up 1-1.6 percent each.
Here are the key stocks that moved today:
TVS Motor: The share price of TVS Motor Company rose 4 percent after a five percent equity stake of the firm changed hands via a block deal. As per exchange data, around 2.44 crore shares, representing 5.13 percent of the total equity worth Rs 1,506 crore, changed hands via a block deal on the NSE. The block deal was executed at a price of Rs 617.25 per share. However, the names of the buyers and sellers were not ascertained. As per reports, promoter Sundaram Clayton has likely sold the 5 percent stake in the auto company. Sundaram Clayton held a 57.40 percent stake in the company as of March 2021.
Yes Bank: Yes Bank share price jumped over 9.5 percent after the lender said it is going to consider fundraising via debt on June 10. "A meeting of the Board of Directors of Yes Bank will be held on Thursday, June 10, 2021 to consider and approve, seek shareholders’ approval for borrowing/raising funds in Indian/foreign currency by issue of debt securities including but not limited to non-convertible debentures, bonds, Medium Term Note (MTN)," Yes Bank said in a press release.
Bajaj Finance: The share price of Bajaj Finance fell 4.5 percent after the non-banking lender warned of asset quality deterioration amid the second wave of COVID-19. The company said that the non-performing assets (NPAs) and credit costs could rise in the first six months of the current financial year. The NBFC also stated that it estimates an impact of Rs 4,000-5,000 crore on its AUM growth plan for FY22 on account of the disruption caused by the second wave. It estimates an incremental credit cost of Rs 1,100-1,300 crore versus planned credit cost in FY22.
Varroc Engineering: The share price of Varroc Engineering declined over 11 percent on Monday after the company reported weak earnings for the March quarter. The firm's consolidated loss widened to Rs 144 crore from Rs 137 crore reported last year during the same quarter. Net sales, however, jumped 31.9 percent to Rs 3,619.26 crore in Q4 FY21 from Rs 2,744.75 crore in Q4FY20. EBITDA margin contracted 70 bps to 3.5 percent from 4.2 percent in the year-ago quarter.
NIIT: Shares of NIIT rallied over 14 percent after the company reported a healthy set of March quarter (Q4FY21) numbers. Its profit after tax increased 11.3 percent QoQ to Rs 51.3 crore. The company’s revenues increased 9 percent quarter-on-quarter (QoQ), up 30 percent year-on-year (YoY), to Rs 275.5 crore, mainly led by 8 percent QoQ growth in corporate learning group (CLG) and 12 percent QoQ growth in Skills & Careers Group (SNC).
(Edited by: By Pranati Deva)