Indian benchmark indices ended higher, with the Nifty starting the June F&O series on a strong note, hitting a record high amid positive global cues. At close, the Sensex was up 307.66 points, or 0.60 percent, at 51,422.88, and the Nifty was up 97.80 points, or 0.64 percent, at 15,435.70.
Ipca Laboratories | CMP: Rs 2,039.85 | The stock fell over 7 percent on May 28. The pharma company’s Q4 net profit was up 87.6 percent at Rs 161.3 crore versus Rs 86 crore. Its revenue was up 3.8 percent at Rs 1,114.7 crore versus Rs 1,073.8 crore, (YoY), reported CNBC-TV18.
Hester Biosciences | CMP: Rs 2,874 | The scrip jumped over 6 percent after the company in a press release said that an MOU was signed between Bharat Biotech International Limited and GCVC towards contract manufacturing of the drug substance for COVAXIN.
Redington India | CMP: Rs 219.75 | The stock price zoomed 20 percent after the company reported a consolidated Q4 net profit of Rs 302.51 crore versus Rs 119.20 crore in the same quarter last year. The board has recommended a final dividend of Rs 11.60 (580 percent) per equity share of Rs 2 each (including a one-time special dividend of Rs 4 (200 percent) per equity share) for the financial year ended March 31, 2021.
Infosys | CMP: Rs 1,407.70 | The stock ended in the green after it was reported that the company’s co-founder SD Shibulal on May 27 picked shares worth Rs 100 crore of the firm through an open market transaction. Shibulal purchased more than 7.22 lakh scrips at an average price of Rs 1,384 per share, BSE block deal data showed.
Metropolis Healthcare | CMP: Rs 2,485.25 | The share price jumped over 8 percent after the company reported sharply higher profit at Rs 61.3 crore in Q4FY21 against Rs 15.5 crore in Q4FY20, revenue jumped to Rs 291.7 crore from Rs 207 crore YoY.
Mahindra & Mahindra | CMP: Rs 847 | The share price added 2 percent after the company reported a combined net profit of Rs 163 crore for the quarter ended March as against a net loss of Rs 3,255 crore in the year-ago quarter. M&M and MVML’s combined revenues in the quarter rose 48 percent on-year to Rs 13,338 crore.
Bajaj Healthcare | CMP: Rs 676.10 | The stock jumped over 6 percent after the company launched a drug to treat black fungus infection in COVID-19 patients. The company has received approval from FDA (Food and Drugs Administration) Gandhi Nagar, Gujarat (India), to manufacture and market Posaconazole API as approved medication for treating mucormycosis in India, Bajaj Healthcare said in a regulatory filing.
BPCL | CMP: Rs 472.40 | The scrip ended in the green on reports that the government may tweak Foreign Direct Investment (FDI) rules to allow 100 percent investment in the company. A consensus has been built among concerned ministries and a final decision was expected soon, even before the financial bids open.
Eicher Motors | The stock price was up over a percent after the Royal Enfield and commercial vehicle maker clocked a healthy 72.9 percent year-on-year growth in consolidated profit at Rs 526.14 crore for the quarter ended March 2021, driven by strong volume and operating performance. On a standalone basis, the profit grew by 35.2 percent to Rs 468.08 crore in Q4FY21 compared to the year-ago quarter and revenue in the same period at Rs 2,922.44 crore increased by 34.1 percent YoY.
Sun Pharma | CMP: Rs 672.65 | The share price was down over 3 percent on May 28. The drugmaker reported an over two-fold jump in consolidated net profit to Rs 894.15 crore for the quarter ended March 2021, mainly on account of robust performance in the Indian market. The company had posted a net profit of Rs 399.84 crore in the corresponding period of the previous fiscal, Sun Pharma said in a regulatory filing. It has acquired the rights to Trademarks “Oxra”, “Oxramet” and “Oxraduo” in India from AstraZeneca AB, Sweden, the parent company of AstraZeneca Pharma India.