Market breadth is surging up. Of the 1632 stocks traded today, 1327 were gainers and 237 were losers.
Pharmaceuticals API Manufacturer Granules India has received approval from the US FDA for Butalbital, Acetaminophen and Caffeine capsules.
Titan noted in its update for Q4 that March sales took a sharp dive across divisions, Revenue for jewellery declined by 5% due to lost sales in the month of March. Revenue growth in January and February months was approx 16.5%. The firm's eyewear division was the worst hit, with revenue for the quarter down 20%, and sales flat in Jan and Feb.
Marico notes that due to the shutdowns, the India business overall "posted a low single-digit volume decline in the quarter". Declines were across categories with one exception, Saffola growth due to customers stocking up. As a result, Marico said, the Saffola portfolio saw very skewed high growth.
Share price for M&M; jumped today. Crisil has reaffirmed Mahindra & Mahindra's credit ratings, adding that it expects cash accruals of about Rs 4,000-4,500 crore in fiscal 2021 for M&M;, along with a large liquid surplus of about Rs 6,800 crore as on March 31, 2020
Cipla is up today, hitting a fresh 52 week high, after the USFDA granted approval for its generic Albuterol Sulfate Inhalation Aerosol, which has a $153 million market and treats asthma and asthmatic symptoms.
Shares of VA Tech Wabag jump today after the company won a contract in the Middle East.
The market opened on an upbeat note, with bank, pharma and auto stocks leading the rally. Nifty 50 was trading at 9006.75 (258, 3.0%) , BSE Sensex was trading at 30783.72 (889.8, 3.0%) while the broader Nifty 500 was trading at 7372.30 (210.9, 2.9%). Market breadth is highly positive. Of the 1447 stocks traded today, 1244 showed gains, and 143 showed losses.
Riding High:
Largecap and midcap gainers today include Motherson Sumi Systems Ltd. (67.10, 19.40%), Mahindra & Mahindra Ltd. (382.55, 17.20%) and Tata Motors Limited (DVR) (34.55, 14.21%).
Downers:
Largecap and midcap losers today include Edelweiss Financial Services Ltd. (36.75, -3.67%), Hindustan Unilever Ltd. (2378.65, -3.34%) and GlaxoSmithKline Consumer Healthcare Ltd. (10379.75, -2.44%).
Volume Shockers
32 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included JTEKT India Ltd. (45.75, 17.76%), Rashtriya Chemicals & Fertilizers Ltd. (36.30, 17.29%) and Minda Industries Ltd. (261.15, 15.30%).
Top high volume losers on BSE were Vardhman Textiles Ltd. (643.90, -0.67%), Endurance Technologies Ltd. (590.00, -0.40%) and Trent Ltd. (462.00, -0.13%).
Future Lifestyle Fashions Ltd. (100.95, 4.99%) was trading at 101.1 times of weekly average. Future Consumer Ltd. (6.35, 4.96%) and Future Retail Ltd. (67.00, 4.93%) were trading with volumes 73.9 and 24.7 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
8 stocks took off, crossing 52 week highs, while 8 stocks were underachievers and hit their 52 week lows.
Stocks touching their year highs included - Abbott India Ltd. (17860.00, 2.17%), Alembic Pharmaceuticals Ltd. (663.00, 3.46%) and Cadila Healthcare Ltd. (352.45, 0.74%).
Stocks making new 52 weeks lows included - Inox Leisure Ltd. (236.05, 0.36%) and Oberoi Realty Ltd. (306.30, -0.03%).
17 stocks climbed above their 200 day SMA including ICICI Securities Ltd. (335.80, 12.80%) and Lupin Ltd. (789.00, 11.82%). 2 stocks slipped below their 200 SMA including Amber Enterprises India Ltd. (1008.00, -9.03%) and Procter & Gamble Hygiene & Healthcare Ltd. (10862.00, -1.08%).
