Stock Market Highlights: Sensex Ends Flat, Nifty Holds Above 15,200; IT, metals shine; banks hang around

Nearby market | Here are the highlights from today’s market session

– Financial services keep the market under pressure; Nifty Bank down 1%

– Index Sensex & Nifty & Midcap Close Flat

– Nifty wins 11 points to 15208 and Sensex 26 points to 50678

– The Midcap index slips 40 pts to 25,544 and the Nifty bank 282 pts to 34,662

– HDFC bank slips Nifty by 32 points and Nifty Bank by 253 points

– Metals stocks rebound in today’s trading; JSW Steel increases by 3%

– The Titan increases by 3% as the government makes the brand mandatory

– Paints and automobiles earn on trade unlock; Asian paintings and PVR up 4% each

– CONCOR continues its momentum following the LLF resolution

– Colgate Gains 5% to Record After UBS Upgrade

– Alkem & Emami Slip following a set of low income

– The size of the market favors advances; 1: 1 feed-decay ratio

Thanks, readers! That’s all of CNBC-TV18.com’s live market coverage today. Please log back in tomorrow for another day of market coverage. Be careful!

Ajit Mishra, VP – Research, Broking Religare

Markets ended almost on a flat note for the second session in a row, taking a break from the recent surge. In the absence of a major event, global signals will continue to dictate the market trend for the near future. In addition, any news of unlocking by state governments will also be closely watched as we see a sustained decline in new cases of COVID. We believe the turmoil could continue, particularly in F&O stocks, ahead of the next monthly contract expiration in May. Traders should align their positions accordingly and continue with the “buy-dip” approach.

Rupee at closing | The Indian rupee ended up 19 peas to 72.77 per dollar, amid volatility in the domestic stock market. The local currency opened higher at 72.85 per dollar from the previous close of 72.96 and was trading in a range of 72.74 to 72.87.

Deepak Jasani, Head of Retail Research, HDFC Securities

Indian benchmark stock indexes were little changed on May 25 after a volatile session. Nifty again encountered resistance closer to 15,300 levels. Reports of a new stimulus package in India raised hopes of an economic recovery in the near future. 15,137-15,294 will be the trading band for the short term Nifty.

Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

15,300 posed as a resistance today. If we can get past that we will hit 15,550-15,600. We have good support at 14,900-15,000 and until we maintain that level we are in bullish territory and can use any correction for. accumulate long positions.

Nearby market | The size of the market favors progress; 1: 1 feed-decay ratio

Nearby market | Metals stocks are rebounding in today’s trading; JSW Steel increases by 3%

Nearby market | Financial services keep the market under pressure; Nifty Bank down 1%

Closing bell | India’s benchmark stock indexes ended Tuesday’s volatile session as banking and financial stocks lagged. The Sensex lost 14.37 points, or 0.03% to 50,637.53, while the Nifty finished 10.75 points, or 0.07% more to 15,208.45. Larger markets erased the gains as the midcap and smcallcap indices closed in the red.

Among sectors, gains were seen in the computer, metals, pharmaceuticals, consumer goods and automotive indexes. On the Nifty50 index, Asian Paints, Titan Company, JSW Steel, Eicher Motors and Britannia Industries were the main winners while HDFC Bank, HDFC Life, Axis Bank, Reliance Industries and Coal India led the losses.

Oil stable for nearly a week as prospect of Iran glut fades

Oil prices were flat on Tuesday, holding highs around a week after jumping more than 3% in the previous session as investors tempered expectations of a quick comeback by the Iranian oil exporter on international crude oil markets.

Subex | The company’s US subsidiary, Subex Inc, received a waiver in the amount of US $ 799,167 as well as interest of US $ 8,302.46 received as a business loan under the Check Protection Program of US federal government payroll.

Bajaj Electricals Q4FY21 | The company posted a net profit of Rs 54.6 crore against a loss of Rs 1.1 crore, year on year. Income fell 3.2 percent to Rs 1,258.5 crore from Rs 1,300.7 crore, year on year. EBITDA increased 94.9% to Rs 72.7 crore from Rs 37.3 crore, while EBITDA margin increased 290 basis points to 5.8% from 2.9% year-on-year .

NHPC | The company awarded an EPC contract to M / s Tata Power Solar Systems on May 24, 2021 for the development of a 40 MW solar power project in Ganjam district, Odisha for a total amount of Rs 188.19 crore .

Alkem Q4FY21 Laboratories | The company’s net profit increased 27.1% to Rs 240 crore from Rs 188.8 crore and revenue increased 7% to Rs 2,192.2 crore from Rs 2,049 crore, YoY. EBITDA declined 3.9% to Rs 291.1 crore from Rs 303 crore, while EBITDA margin declined 150 basis points to 13.3% from 14.8% year-on-year.

Tata Power ‘Goes into Renewable Energy’, Expects 10X Growth in Sector in 5-7 Years

As Tata Power “embarks on renewables,” the firm appears optimistic about the industry’s exponential growth over the next four to five years. “Tata Power is going really strong on renewables,” Praveer Sinha, Managing Director (MD) and Chief Executive Officer (CEO) of Tata Power told CNBC-TV18 on May 25. Sinha is convinced that the space has become the “biggest” and has claimed that it will develop very quickly in the next four to five years. Speaking about Tata Power’s projects in the renewable energy sector, Sinha said, “… we will consider setting up new on-site manufacturing capacity. Our EPC (Engineering, Procurement and Construction) has grown significantly over the past year. He added that the company had a backlog of around Rs 9,000 crore. Read here.

Market Watch: Shrikant Chouhan of Kotak Securities

– Buy Indiabulls Real Estate with a stop loss of Rs 92 and a target of Rs 110

– Buy Hero MotoCorp with a stop loss of Rs 2,890 and a target of Rs 3,030.

Punjab & Sind Bank Predicts 12% Lending Growth in FY22

Punjab and Sind Bank released its Q4FY21 earnings after eight quarters. Although net interest income (NII) and net interest margins (NIM) slipped in the fourth quarter, on an annual basis (YoY) both NIM and NII increased. S Krishnan, Managing Director and CEO, Punjab and Sind Bank discussed the performance. “We have an internal target of 12% for loan growth,” he said in an interview with CNBC-TV18. “Over the past year, we have slightly reduced gross non-performing assets (NPAs),” he said. Read here.

Lincoln Pharmaceuticals Q4FY21 | The company’s net profit increased 40.6% to Rs 12.6 crore from Rs 8.9 crore and revenue increased 1.4% to Rs 79.6 crore from Rs 78.5 crore, YoY. EBITDA increased 78.2% to Rs 15.3 crore from Rs 8.6 crore, while EBITDA margin improved from 830 bps to 19.2% from 10.2% in year-on-year change.

Anand Rathi on HDFC

HDFC continues to grow strongly given its strong position in the housing finance market, healthy spreads, strong capital position, prudent provisioning and the strength of its subsidiaries. The company maintains higher liquidity levels and has a strong deposit base. We are maintaining our buy rating with a target price of Rs 3,100 per share.

Concor shares hit their highest level in 52 weeks as brokerages raised their LLF clarity targets

Container Corporation of India (Concor) share price rose more than 4% at the start of trading to a new 52-week high of Rs 664.50 each after brokerage firms raised target price on clarity of land license fees (LLF) and positive management advice. Analysts believe this removes major uncertainty and the divestment process can be smoother. Nomura maintained a buy rating on the share and increased the target price to Rs 750 per share. Read here.

Aurionpro solutions | The subsidiary of the company SC Soft Pte. Ltd. announced its foray into Egypt as it was selected by the consortium led by E-Finance to provide portable ticket validators for the Egyptian National Railway Project.

HCL Technologies | The IT company has received an order from the American company McLaren Healthcare for digital solutions. The partnership will allow HCL to provide IT services for the 15 McLaren System hospitals located in Michigan and Ohio. HCL’s services would include managing and transforming the core digital infrastructure and core clinical and non-clinical applications using HCL’s DRYICE automation framework, the company said in an exchange brief.

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