POST MARKET
The benchmark equity indices Sensex and Nifty recovered from early losses to settle higher on Wednesday amid value buying in beaten-down stocks and strong buying in metal shares.
Among sectoral indices, metal, pharma and FMCG stocks were the major gainers.
The broader markets also remained firm, with the Nifty Smallcap100 and Nifty Midcap100 indices rising 1 percent and 0.9 percent, respectively.
STOCKS IN NEWS
Dixon Technologies
Shares of Dixon Technologies traded higher near 10% in Wednesday’s session despite weak March quarter earnings, as investors focused on progress in the company’s proposed joint venture with Chinese smartphone maker Vivo.
Vodafone Idea
Shares of Vodafone Idea surged over 7% in Wednesday’s trade after reports suggested the telecom operator may receive fresh round of confidence capital infusion, with Kumar Mangalam Birla expected to lead the fundraising exercise.
Berger Paints India
Berger Paints India rose more than 5 percent on Wednesday after the company reported a rise in consolidated net profit for the March quarter, triggering gains in other paint stocks as well.
Tata Power Company
Shares of Tata Power fell over 3% in Wednesday’s trade after the company reported its March quarter earnings.
As per Tata Power, revenue declined 13% to Rs 14,900.20 crore from Rs 17,095.88 crore, while EBITDA rose 10% year-on-year to Rs 4,216 crore
Source – Moneycontrol
