Here is a collection of the most important stories this evening:
Taking Stock: Market on 5-month high, Sensex zooms 629 points, Nifty at 18,500
Indian equity market ended higher for the second consecutive session on May 26, starting the June series on a positive note, and hitting a five-month-high, helped by gains in heavyweight RIL and buying across sectors. Read more here.Â
Sun Pharma Q4 result: Net profit at Rs 1,984.5 crore, tops estimate
The company reported a net loss of Rs 2,227.38 crore in the corresponding quarter a year ago, largely on the back of a one-time loss of Rs 3,935.7 crore. Read more here.
Mahindra & Mahindra Q4 result: Net profit rises 22.1% YoY to Rs 1,549 crore, misses estimateÂ
Mahindra & Mahindra posted a net profit of Rs 1,549 crore for the quarter ended March, up from Rs 1,268 crore in the base quarter. The net profit was up 22.1 percent and up 67 percent YoY including exceptional items. Analysts' expectations on the YoY increase had varied between 39-69 percent. Read more here.Â
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 62,625.63 | -223.01 | -0.35% |
| Nifty 50 | 18,563.40 | -71.15 | -0.38% |
| Nifty Bank | 43,989.00 | -6.25 | -0.01% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| IndusInd Bank | 1,331.05 | 27.20 | +2.09% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Hero Motocorp | 2,899.30 | -65.50 | -2.21% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Infra | 5574.25 | 3.30 | +0.06% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty PSU Bank | 4035.30 | -49.50 | -1.21% |
Sensex will hit 1 lakh mark in 5 years: Chris Wood of Jefferies
Chris Wood of global brokerage firm Jefferies said that it will only be a matter of time before Sensex reaches the 100,000 level. "This target, on a five-year view, now assumes trend 15 percent EPS growth and that a five-year average one-year forward PE multiple of 19.8x is maintained," he stated. Read more here.Â
Go First extends suspension of flight operations to May 28
Crisis-hit Go First airline on May 26 extended the suspension of flight operations to May 28 even as it expressed hope that it would soon be able to resume bookings. The cash-starved airline, which has been granted bankruptcy protection, had previously suspended operations until May 26. Read more here.Â
PR Sundar settles with Sebi, to refrain from dealing in securities for a year; return advisory fee of over Rs 4 crore
Finfluencer PR Sundar, his company Mansun Consulting and co-promoter of the company Mangayarkarasi Sundar have settled with the market regulator, following complaints that they were providing investment advisory services without the requisite registration from the Securities and Exchange Board of India (Sebi). Read more here.Â
MC Explains| Will your Rs 2,000 note be recycled into a banknote, or will it fuel a furnace?
As a part of the Clean Note Policy, the central bank usually weeds out soiled currency notes and replaces them with fresh ones. The Clean Note Policy was announced by the then RBI Governor Bimal Jalan in January 1999. Read more here.
