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POST-MARKET REPORT
Indian benchmark indices ended the trading session higher after climbing for most of the day, led by expectations of a positive showing by companies in the Q4 earnings season.
At close, the Nifty 50 was at 22,753.80, up 111.05 points, or 0.49% and the Sensex was up 354.45 points, or 0.47%, at 75,038.15.
Among the sectors, barring the Pharma and Auto benchmarks, which were down 0.34%, and 0.06%, all other sectoral indices ended in the green.
Gains were led by the Media index, which closed up 1.80%, followed by the PSU Bank index which closed up 1.53%. The Oil & Gas index gained 1.50%, the FMCG index was up 1.23%, Consumer Durables was up 0.68%, while Bank, Realty, and Financial Services closed up 0.53%, 0.59%, and 0.16%. The IT index was closed up 0.61%.
The broader market also ended in the green, with the BSE SmallCap index closing up 0.46%, and the BSE MidCap index gaining 0.89%.
STOCKS TODAY
IndiGo: Shares of InterGlobe Aviation Limited scaled a fresh record high on April 10 by trading 5 percent higher during afternoon trade. Wednesday’s gains made the carrier the world’s third-largest airline in terms of market capitalization. The 22 percent rally in the last month has taken the stock of InterGlobe Aviation, to over Rs 1,46,000 crore ($17.5 billion) in total value, Bloomberg data showed.
Reliance Infra: Shares of Reliance Infrastructure fell 20 percent on April 10 after the Supreme Court ordered its airport metro arm to refund arbitral award payments made by the Delhi Metro Rail Corporation (DMRC). The bench, comprising Chief Justice of India DY Chandrachud, Justices BR Gavai, and Surya Kant, directed the Reliance Infra unit to refund the money deposited by DMRC.
Tata Motors: Tata Motors on Wednesday reported an 8 percent rise in total global wholesales at 3,77,432 units in the fourth quarter ended March 31, 2024, as compared to the same period a year ago. Global wholesales of Tata Motors passenger vehicles, including electric vehicles, in Q4 FY24 were at 1,55,651 units, higher by 15 percent as against Q4 FY23, Tata Motors said in a statement.
Sun Pharma: Shares of Sun Pharma Advanced Research Company (SPARC) fell 5 on April 10 after the Mumbai-based pharma company said it was abandoning Phase 2 study on Vodobatinib for Parkinson’s. The study was a global trial that enrolled 513 patients with early Parkinson’s disease from the United States, Europe, and India. It was designed to evaluate the safety and efficacy of the selective c-Abl tyrosine kinase inhibitor in patients with early Parkinson’s disease.
Ramco System: Shares of Ramco System zoomed 18 percent in the morning trade on April 10 after the aviation software specialist signed a multi-million-dollar deal with Korea’s largest airline Korean Air for tech support at its new engine maintenance complex.”The implementation of Ramco’s aviation software will replace multiple legacy systems to streamline operations across current engine shops and planned expansion sites,” the company said in a regulatory filing.
PB Fintech: Shares of PolicyBazaar parent PB Fintech surged over 5 percent on April 10 to hit a 52-week high of Rs 1,400.35 on the NSE, a day after the company incorporated a subsidiary unit. “We hereby inform that a wholly owned subsidiary of the company by the name of PB Pay Private Limited has been incorporated vide certificate of incorporation issued by the registrar of companies, Central Registration Centre, Ministry of Corporate Affairs, dated April 9, 2024,” the company said in an exchange filing.