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May 26, 2022 / 04:20 PM IST

Closing Bell: Nifty ends above 16,150, Sensex gains 503 pts led by IT, metal, power, banks

Among sectors, metal, IT, power, realty, bank and oil & gas up 1-3 percent.

  • Closing Bell: Nifty ends above 16,150, Sensex gains 503 pts led by IT, metal, power, banks
    Stock Market Today:
    Moneycontrol.com
    HIGHLIGHTS
    • 03:35 PM IST

      Indices end higher, break three-day losing streak

    • 03:21 PM IST

      BSE Metal index rises over 3 percent led by the Tata Steel, JSW Steel, NMDC

    • 03:15 PM IST

      Credit Suisse maintains outperform call on Torrent Pharma with a target of Rs 3,500

    • 03:10 PM IST

      Nifty Bank index rises 2 percent supported by the Bank of Baroda, SBI, Bandhan Bank

    • 02:58 PM IST

      Jefferies maintains hold rating on Coal India, raises target to Rs 175

    • 02:51 PM IST

      CLSA keeps buy on Torrent Pharma, target at Rs 3,550

    • 02:30 PM IST

      Aether Industries IPO Day 3: Issue subscribed 4.14 times, retail portion 86%, QIB part 12.38 times

    • 02:21 PM IST

      Expect crude oil prices to trade sideways to up with resistance at $115 per barrel: Tapan Patel

    • 02:10 PM IST

      Aether Industries IPO Day 3: Issue subscribed 2.65 times, retail portion 84%, QIB part 7.37 times

    • 01:52 PM IST

      CLSA maintains buy rating on Bharat Petroleum Corporation, cut target to Rs 435

    • 01:48 PM IST

      Goldiam International gets additional export orders worth of Rs 55 crore

    • 01:39 PM IST

      Nifty Information Technology index gains 1 percent supported by the Tech Mahindra, TCS, Wipro

    • 01:32 PM IST

      Polyplex Corporation reports 48.6 percent jump in Q4 net profit at Rs 304.4 crore

    • 01:20 PM IST

      Credit Suisse keeps outperform rating on Coal India

    • 01:12 PM IST

      BSE Oil & Gas index slips 0.5 percent dragged by BPCL, Gail India, ONGC

    • 01:14 PM IST

      BSE Oil & Gas index slips 0.5 percent dragged by BPCL, Gail India, ONGC

    • 01:08 PM IST

      JPMorgan upgrads InterGlobe Aviation to overweight, raises target to Rs 2,000

    • 12:58 PM IST

      MOIL posts 12.9% jump in Q4 net profit at Rs 131 crore

    • 12:53 PM IST

      Zydus Lifesciences gets final USFDA nod for Pemetrexed Injection

    • 12:46 PM IST

      Valiant Organics posts 7 percent jumps in Q4 net profit at Rs 37.07 crore

    • 12:34 PM IST

      Apollo Hospitals Enterprise reports 42.9 percent fall in Q4 net profit at Rs 97.01 crore

    • 12:30 PM IST

      Credit Suisse keeps outperform call on InterGlobe Aviation, cut target price to Rs 2,200

    • 12:22 PM IST

      Sequent Scientific hits 22-month low after weak earnings

    • 11:55 AM IST

      Nifty Metal index down nearly 1 percent dragged by the Adani Enterprises, Hindustan Zinc, Welspun Corp

    • 11:47 AM IST

      BofAML keeps buy rating on Coal India, target of Rs 218

    • 11:45 AM IST

      Suzlon Energy falls 9% as losses widen in March quarter

    • 11:38 AM IST

      BSE Realty index declines 2 percent dragged by the Prestige Estate, Macrotech Developers, Indiabulls Real Estate

    • 11:16 AM IST

      Aether Industries IPO Day 3: Total subscription at 56%, retail portion booked 73%

    • 11:13 AM IST

      Asian Granito shares fall 6% as tax authority raids premises

    • 10:53 AM IST

      Aurobindo Pharma arm receives USFDA approval for Pemetrexed for Injection

    • 10:47 AM IST

      Citi maintains neutral rating on Coal India, raises target price to Rs 180

    • 10:44 AM IST

      BSE Auto index slips 1 percent dragged by the Tata Motors, Sundram Fasteners, Tube Investments of India

    • 10:39 AM IST

      Aether Industries IPO subscribed 50%, retail portion booked 69% on Day 3

    • 10:24 AM IST

      Prabhudas Lilladher maintains hold on InterGlobe Aviation, target price of Rs 1,800

    • 10:06 AM IST

      Nifty FMCG index falls 1 percent dragged by the Colgate Palmolive, United Spirits, Hindustan Unilever

    • 09:45 AM IST

      BSE Power index sheds 1 percent dragged by Adani Transmission, Adani Green, ABB India

    • 09:41 AM IST

      Ashoka Buildcon board approves raising up to Rs 750 crore via NCDs

    • 09:33 AM IST

      Gold dips on rising yields after Fed minutes signal patience

    • 09:22 AM IST

      Dollar hovers near one-month low as Fed minutes lack surprise

    • 09:10 AM IST

      Indian rupee opens flat at 77.53 per dollar

    • 09:08 AM IST

      Market volatility may remain at elevated levels: Mohit Nigam

    • 09:07 AM IST

      Indian markets are likely to open on a positive note: ICICI Direct

    • 08:59 AM IST

      Sebi exempts government from making open offer to Vodafone India shareholders

    • 08:55 AM IST

      Rupee is expected to depreciate today: ICICI Direct

    • 08:53 AM IST

      Government puts GST rate revisions on hold till inflation eases

    • 08:49 AM IST

      Markets are likely to open on a positive note, says Prashanth Tapse

    • 08:44 AM IST

      Bata India Q4 net profit jumps over two-fold to Rs 63 crore

    • 08:42 AM IST

      Torrent Pharma posts Rs 118 crore Q4 loss on impairment provision

    • 08:33 AM IST

      No change in government’s 2022-23 borrowing target despite revenue hit

    • 08:31 AM IST

      Kolte-Patil Developers Q4 profit up 28% at Rs 27 crore

    • 08:23 AM IST

      Oil firms on tight supply though EU ban on Russian oil still uncertain

    • 08:13 AM IST

      NALCO Q4 profit rises to Rs 1,025 crore

    • 08:01 AM IST

      BPCL Q4 net profit declines 82% to Rs 2,130.5 crore

    • 07:59 AM IST

      Aether Industries IPO subscribed 49%, retail portion booked 67%, employee part 93% on Day 2

    • 07:53 AM IST

      Coal India Q4 net profit grows 46.3% YoY to Rs 6,715 crore, revenue up 22.5%

    • 07:49 AM IST

      Indigo Q4 net loss widens to Rs 1,681.80 crore as fuel expenses surge

    • 07:44 AM IST

      Fed saw aggressive hikes providing flexibility later this year

    • 07:41 AM IST

      Asian Markets trade mixed with Straits Times gains, while Shanghai, Hang Seng down

    • 07:36 AM IST

      Wall Street rallies as Fed minutes meet expectations

    • 07:31 AM IST

      SGX Nifty indicates a positive start for the Indian indices

  • IndexPricesChangeChange%
    Sensex59,330.90-874.16 -1.45%
    Nifty 5017,604.35-287.60 -1.61%
    Nifty Bank40,345.30-1,302.35 -3.13%
    Nifty 50 17,604.35 -287.60 (-1.61%)
    Fri, Jan 27, 2023
    Biggest GainerPricesChangeChange%
    Tata Motors445.6026.55 +6.34%
    Biggest LoserPricesChangeChange%
    Adani Enterpris2,761.45-627.50 -18.52%
    Best SectorPricesChangeChange%
    Nifty Auto13089.70132.55 +1.02%
    Worst SectorPricesChangeChange%
    Nifty PSU Bank3821.05-219.25 -5.43%


  • May 26, 2022 / 04:10 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:
     
    Markets witnessed healthy short covering towards the closing hours that helped key indices to reverse the 3-day losing streak. With the US FOMC minutes out of the way now, the market is more or less getting prepared for the likely rate hikes, and hence we saw strong buying on the F&O expiry day. 

    While we may see bouts of selling going ahead due to other negative factors like higher inflation, continuous FII selling, & the Russia-Ukraine conflict, relief rallies will still be seen amidst volatility. 

    On daily charts, the Nifty has formed a long leg Hammer formation which supports further uptrend from the current levels. 

    For the trend following traders, 16050-16000 would act as the key support zone. Trading above the same, the index could rally up to 16300-16375. On the flip side, below 16000, uptrends would be vulnerable. Below which, bulls may prefer to exit out from the trading long positions and index could retest the level of 15900-15850.

  • May 26, 2022 / 03:47 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    After the heavy sell-off market showed signs of exhaustion and could bounce for the short to medium-term. Technically, the broad market is in the oversold territory and fundamentally valuations are just below the three-year average. 

    A key reason for the current correction is selling by FIIs and a reduction in domestic buying. A drop in FIIs selling will be an important reason for the bounce. For this, the actions to be undertaken by FED and RBI in June will be an important factor. 

    Moreover, we should note that the fiscal measure announced by the Indian government to control inflation is positive for the domestic market.

  • ADVERTISEMENT
  • May 26, 2022 / 03:35 PM IST

    Market Close: Benchmark indices broke three-day losing streak and ended higher with Nifty around 16,200.

    At close, the Sensex was up 503.27 points or 0.94% at 54,252.53, and the Nifty was up 144.40 points or 0.90% at 16,170.20. About 1712 shares have advanced, 1509 shares declined, and 126 shares are unchanged.

    Tata Steel, JSW Steel, Apollo Hospitals, SBI and HDFC Bank were among the top Nifty gainers, while losers included ITC, UPL, Divis Labs, Sun Pharma and Reliance Industries.

    Among sectors, metal, IT, power, realty, bank and oil & gas up 1-3 percent. 

    The BSE midcap index rose 1.4 percent and smallcap index added 0.78 percent.

  • May 26, 2022 / 03:25 PM IST

    Yash Gupta- Equity Research Analyst, Angel One:

    Torrent Pharma has announced that company will be discounting its USA operation related to Liquide business. Torrent has taken this decision after looking at the current financial viability of its liquid business along with the future investment require to bring the pipeline product in the market and increase in the competition.

    We believe that it’s a positive decision by the Torrent Pharma as in past we have seen increase in the competition in the USA market and continuous price erosion in the USA market. 

    Company will able to save cost of operating the facility i.e. Rs 135 crores per annum. After a very long time any Indian company has taken a decision to close down any part of business in USA.

  • May 26, 2022 / 03:21 PM IST

    BSE Metal index rose over 3 percent led by the Tata Steel, JSW Steel, NMDC

     BSE Metal index rose over 3 percent led by the Tata Steel, JSW Steel, NMDC
  • ADVERTISEMENT
  • May 26, 2022 / 03:17 PM IST

    Page Industries Q4 Earnings:

    Page Industries has reported 64.2 percent jump in Q4FY22 net profit at Rs 190.5 crore versus Rs 116 crore and revenue was up 26.1% at Rs 1,111 crore against Rs 881 crore, YoY.
        
    Earnings before interest, tax, depreciation and amortization (EBITDA) was up at Rs 267 crore versus Rs 170 crore and margin was at 24% versus 19%, YoY.

     Page Industries Q4 Earnings:  

 Page Industries has reported 64.2 percent jump in Q4FY22 net profit at Rs 190.5 crore versus Rs 116 crore and revenue was up 26.1% at Rs 1,111 crore against Rs 881 crore, YoY. 
     
Earnings before interest, tax, depreciation and amortization (EBITDA) was up at Rs 267 crore versus Rs 170 crore and margin was at 24% versus 19%, YoY.
  • May 26, 2022 / 03:15 PM IST

    Credit Suisse View on Torrent Pharma:

    Credit Suisse has maintained an outperform call on Torrent Pharma with a target of Rs 3,500, an upside of 24 percent. 

    "The company posted strong margin recovery and growth guidance in FY23. Margin to expand 300 basis points in first quarter and further 100 bps in the rest of FY23," the brokerage firm said.

    Torrent expects double-digit revenue growth in both India and Brazil in FY23. Recovery in the US is contingent on clearance of facilities, it added.

  • May 26, 2022 / 03:11 PM IST

    Moody's upgrades Bharti Airtel to Baa3 with stable outlook

      Moody's upgrades Bharti Airtel to Baa3 with stable outlook
  • May 26, 2022 / 03:10 PM IST

    Nifty Bank index rose 2 percent supported by the Bank of Baroda, SBI, Bandhan Bank

     Nifty Bank index rose 2 percent supported by the Bank of Baroda, SBI, Bandhan Bank
  • May 26, 2022 / 03:05 PM IST

    Elara Capital View on IPCA Laboratories:

    India growth is intact and traction is expected to improve, given likely price hikes and sales force addition would bolster volume. 

    Growth in API and branded generics is likely to be strong in FY23. Management expects an EBITDA margin in the range of 22.0-22.5% in FY23. 

    We cut our earnings by 23% for FY23E and 17% for FY24E on added cost pressure and lower sales in the UK & Russia. 

    We retain buy with a lower target price of Rs 1,170 from Rs 1,285 on 25x (from 23x) FY24E P/E

  • ADVERTISEMENT
  • May 26, 2022 / 03:01 PM IST

    Market at 3 PM

    Benchmark indices were trading near the day's high level with Nifty above 16,150.

    The Sensex was up 508.45 points or 0.95% at 54257.71, and the Nifty was up 149.00 points or 0.93% at 16174.80. About 1460 shares have advanced, 1645 shares declined, and 106 shares are unchanged.

      Market at 3 PM  

 Benchmark indices were trading near the day's high level with Nifty above 16,150. 

 The Sensex was up 508.45 points or 0.95% at 54257.71, and the Nifty was up 149.00 points or 0.93% at 16174.80. About 1460 shares have advanced, 1645 shares declined, and 106 shares are unchanged.
  • May 26, 2022 / 02:58 PM IST

    Jefferies View On Coal India

    The broking house Jefferies has maintained a hold rating on Coal India and raised the target price to Rs 175 from Rs 160 per share.

    EBITDA was 18 percent above the estimate. The topline outlook has improved led by pickup in volumes and e-auction prices but higher staff cost due to workers' wage revision should pose a headwind.

    The valuation is reasonable, but long-term outlook remains uncertain, CNBC-TV18 reported.