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The market today began with Sensex soaring 600 pts and Nifty topping 14500. As the market moved, Nifty hovered below 14500 and ends at 14,485.00. ICICI bank, Axis bank, ONGC, SBI and Ultratech made the top gainers while HCL, Power grid and DRL made the top drags.
Top Stories of the day:
Maruti Q4 preview: As an impact of commodity price rise, Maruti increased the price of select models upto Rs.22,500. Despite this hike being the second price change in the year 2021, the shares have been underperformance in January-March 2021 quarter.
Olectra Greentech: Said it received an order from a reputed American based company for supply of 15-35KV Composite polymer insulators. The order is worth Rs.15crores approximately and is expected to be delivered in next 8-10 months.
Britannia Industries: is likely to report a 15-19 per cent rise in net profit for March quarter on a high single-digit rise in net sales. Volumes are seen rising 7-8 per cent while margins are projected to expand by at least 200 basis points on a year-on-year basis.
HCL: Shares of HCL Technologies dipped over 3 per cent after the company posted a 6.1 per cent decline in consolidated net profit in March quarter. HCL said it is confident of logging double-digit growth in FY22 revenue on the back of a strong deal pipeline.
Glenmark Pharma: said it is concluding the final, national phase of its marketing approval application process to launch its nasal spray Ryaltris in 17 countries in the European Union (EU).
Closing bell:
Nifty 50 began with positive numbers beyond 14500 and ended green at 14,485.00 on Monday. Nifty Metal, Realty, Banking and Financial Services stocks drive trade while Nifty Pharma stocks remain in the negative zone. Out of 50 stocks traded in NSE, 36 stocks advanced, 13 declined and 1 remained unchanged.