Nifty auto, metal, energy and PSU Bank indices rose between one and three percent. BSE Midcap and Smallcap indices added over one percent each.
Benchmark indices recovered from the day’s low and ended flat supported by the metal, auto and PSU banking names. At close, the Sensex was down 85.40 points or 0.16% at 51849.48, and the Nifty was up 1.30 points or 0.01% at 15,576.20.
Motherson Sumi Systems | CMP: Rs 272.85 | The stock price surged 15 percent after net profit of the company came in at Rs 713.6 crore against Rs 183.4 crore (YoY). Revenue was up 17.6 percent at Rs 16,972 crore against Rs 14,434.5 crore (YoY). EBITDA jumped 38.7 percent at Rs 1,722 crore against Rs 1,242 crore (YoY). EBITDA margin came in at 10.1 percent against 8.6 percent (YoY).
Muthoot Finance | CMP: Rs 1,425.15 | The stock jumped over 8 percent after net profit of the company grew 22.1 percent at Rs 995.6 crore against Rs 815.1 crore (YoY). Revenue came in at Rs 2,824 crore against Rs 2,400 crore(YoY). The board approved fund raising up to Rs 5,000 crore via NCDs. The company has appointed George Jacob Muthoot as Chairman.
Gujarat Gas | CMP: Rs 567.95 | The share price jumped 5 percent after the company’s net profits in the March 2021 quarter was up 40.09 percent at Rs 350.86 crore on the back of an expansion in sales as the company added 150 CNG stations, 100,000 households, 1.55m households and 350 industrial consumers during the full fiscal year. Global research firm CLSA has downgraded it to outperform from buy and has raised the target to Rs 570 per share.
Adani Ports | CMP: Rs 812 | The stock ended in the green after the company reported improved operational performance in May 2021. During May, the company’s handled cargo volume stood at 25.65 MMT, registering a growth of 79% on year-on-year basis. In the container segment, the company handled volume of 0.72 MN TEU’s in May, registering a growth of 67% on year-on-year basis.
ITC | CMP: Rs 209.05 | The scrip was down over 2 percent on June 2. The company’s standalone profit declined to Rs 3,748.4 crore compared to Rs 3,797 crore reported in the year-ago quarter. Standalone revenue from operations (excluding excise duty) in Q4FY21 grew by 22.6 percent to Rs 13,294.7 crore YoY, while revenue (including excise duty) rose 24 percent YoY to Rs 14,156.96 crore during the quarter.
Lupin | CMP: Rs 1,241.30 | The share price added over 2 percent after the company announced that the USFDA has accepted the Biologics License Application (BLA) for its proposed biosimilar to Neulasta (pegfilgrastim) through a filing using the 351(k) pathway.
Mangalore Refinery and Petrochemicals | CMP: Rs 52.25 | The share price was up 5 percent on June 2. The meeting of the board of directors of the company has been scheduled for June 10, 2021 to consider and approve the amalgamation of ONGC Mangalore Petrochemicals Limited (OMPL) with Mangalore Refinery and Petrochemicals (MRPL).
Phoenix Mills | CMP: Rs 806 | The scrip ended in the green after the company and GIC, Singapore’s sovereign wealth fund, announced the execution of definitive documents to form a strategic investment platform, to develop, own and operate retail?led, mixed?use developments in India.
Route Mobile | CMP: Rs 1,723 | The share was up 3 percent after the company announced an agreement with Emirates Integrated Telecommunications Company (EITC) – du, UAE’s second integrated telecom service provider, by offering a turnkey solution using Route Mobile’s Smart Messaging Hub. This enables du to launch a highly scalable revenue-generating messaging platform to enable A2P wholesale transit business.
Ratnamani Metals | CMP: Rs 1,945 | The stock ended in the green on June 2 after the company received a domestic order of Rs 81.79 crore for carbon steel pipes from oil and gas sector, to be executed between September, 2021 to March, 2022.
Sandip Das
