Indian shares snapped a four-session rally to end lower on Tuesday as metal stocks retreated from record highs and financials dipped. The sentiment also took a hit following declines in Asia on US inflation worries.
The Sensex ended 340 points lower at 49,162 while the Nifty fell 91 points to settle at 14,851.
Broader markets, however, outperformed benchmarks with the midcap and smallcap indices up around a percent each.
On the Nifty50 index, Coal India, NTPC, IOC, ONGC and BPCL were the top gainers while JSW Steel, Hindalco, Kotak Bank, HDFC, and Divi's Labs led the losses.
Here are the key stocks that moved today:
Alkyl Amines Chemicals: The share price of Alkyl Amines Chemicals was locked in a 10 percent upper circuit of Rs 3,642.30 per share, also its 52-week high after the stock turned ex-split. The company has fixed Wednesday, May 12, 2021, as the record date for determining the eligibility of shareholders for split/sub-division of equity shares. It will split its share of face value Rs 5 into Rs 2. The board of directors of the company, at its meeting held on February 2, 2021, had approved the sub-division/split. The split is in order to facilitate more liquidity of the company's equity shares in the stock market and bring down the company’s share price, noted the firm.
HSIL: The share price of sanitaryware and packaging products maker HSIL was locked in 20 percent upper circuit of Rs 207.50 per shae on BSE, also its 52-week high after the company reported a multi-fold jump in its net profit for the fourth quarter ended March 2021. The company’s net profit in Q4FY21 jumped to Rs 33.02 crore from Rs 3.38 crore in the January-March period a year ago. Revenue from operations during the quarter rose 37.35 percent to Rs 633.21 crore from Rs 461.03 crore, YoY. For the fiscal year 2020-21, the net profit was up 81.87 percent to Rs 88.06 crore from Rs 48.42 crore in the previous year.
HFCL: HFCL shares zoomed 7.5 percent after the company's net profit jumped 14-fold in the March quarter. The company's net profit rose to Rs 84.67 crore in Q4 as against Rs 5.78 crore in the year-ago quarter. The company's consolidated sales revenues also more than doubled, up 110 percent to Rs 1,391.40 crore in Q4 versus Rs 663.19 crore in the same quarter last year. The surge was also on the back of low base in the March 2020 quarter due to the pandemic.
Chambal Fertilisers: The share price of Chambal Fertilisers and Chemicals (CFCL) gained over 3 percent after the company reported a surge in consolidated profit for the quarter ending March 31 at Rs 541.75 crore compared to the same period of the previous financial year. The company’s consolidated net profit stood at Rs 201.07 crore during the corresponding quarter of 2019-20. Its total revenue from operations for the quarter under review declined 16.67 percent to Rs 1,640.76 crore as compared to Rs 1,969.09 crore in the same period of FY20.
Punjab National Bank: PNB shares fell nearly 1 percent after the public sector lender launched a qualified institutional placement (QIP) offer to raise funds. The bank is looking to raise as much as Rs 1,800 crore from institutional investors through this offer and it has fixed a floor price of Rs 35.51 for the same. The bank may at its discretion offer a discount of not more than 5 percent on the floor price, it said. This is the second time the state-owned bank has hit the market to raise funds from institutional investors in the last six months.
(Edited by : Pranati Deva)