Closing Bell: Sensex, Nifty and Bank Nifty end at record closing highs; metals, FMCG gain big

Equity benchmarks have ended the day on an extremely strong note, with the Sensex rising over 350 points, while the Nifty was well above 11,250-mark.

The Sensex is up 352.21 points or 0.95% at 37336.85, and the Nifty up 111.10 points or 0.99% at 11278.40. The market breadth is positive as 1,638 shares advanced, against a decline of 956 shares, while 178 shares are unchanged.

All sectoral indices ended the day on a good note, with maximum gains among metals, FMCG and auto names. The Nifty Midcap index was higher by a percent.

ITC, Tata Motors, and IOC were the top gainers, while HUL, Adani Ports, Dr Reddy’s Laboratories and Bajaj Finserv were the top losers.

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Nagarjuna Fertilisers and Chemicals has minimise the net loss in the quarter ended June 2018 (Q1FY19). The company's Q1 net loss was at Rs 1 crore against loss of Rs 4.7 crore, in the same quarter last fiscal.

Revenue of the company was up 4 percent at Rs 900.5 crore against Rs 862.4 crore.

The operating profit or EBITDA rose 25.7 percent at Rs 95 crore and margin was at 10.5 percent.

At 14:48 hrs Nagarjuna Fertilisers and Chemicals was quoting at Rs 13.77, up Rs 1.19, or 9.46 percent.

Westlife Development posted profit at Rs 11.6 crore for the quarter ended June 2018. The growth was driven by revenue as well as operational performance with double digit same-store-sales growth.

The company had posted a loss of Rs 2.7 crore in the same period last year.

Revenue from operations increased sharply by 30.2 percent to Rs 341.7 crore compared to Rs 262.4 crore in same period last fiscal.

At 14:30 hrs Westlife Development was quoting at Rs 384.45, up Rs 36.50, or 10.49 percent.

:Non-banking finance company Equitas Holdings' first quarter profit grew by 127 percent year-on-year to Rs 35.4 crore, driven by fall in provisions.Profit in the year-ago period stood at Rs 15.6 crore.

Revenue from operations increased 19.7 percent to Rs 543.4 crore compared to Rs 454 crore in corresponding period last year, backed by loan growth of 27 percent to Rs 8,926 crore YoY.

:Shares ofIL&FS Transportation Networksgained 19 percent as company announced rights issue worth Rs 3,000 crore.

The company board at its meeting held on July 27, approved the proposal for issue of equity shares of face value of Rs 10 each to the existing shareholders on a right basis upto Rs 3,000 crore, subject to all applicable statutory and regulatory approvals.

The company board meeting is scheduled to be held on August 13, to consider and approve the standalone financial results of the company for the quarter ended June 30, 2018.

At 13:52 hrs ILandFS Transportation Networks was quoting at Rs 42.90, up Rs 6.30, or 17.21 percent on the BSE.

Invesco Mutual Fund has revised the benchmark of Invesco India Credit Risk Fund to CRISIL Composite AA ShortTerm Bond Index with immediate effect, the fund house said in an addendum.

Earlier, the open-ended debt scheme was benchmarked against the CRISIL AA Short Term Bond Index.

All other features of the scheme will remain unchanged.

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:Shares of Biocon gained more than 8 percent on the back of strong numbers declared by the company in the quarter ended June 2018.

The company beat analysts’ estimates by posting a 47 percent jump in net profit at Rs 120 crore in the first quarter ended June 2018. The growth was led bystrong performance of biologics and research services segments.

The profit was also helped by a low base in Q1FY18 due to supply chain disruption caused by GST rollout.The company reported a net profit of Rs 81 crore in the year-ago period.

Total revenue for the quarter under review grew 21 percent to Rs 1,192 crore in the April-June period, Biocon said in a statement.