LIVE: Rakesh Jhunjhunwala bets on Indian Hotels, Indigo to layoff 10% of workforce

Rakesh Jhunjhunwala has bet Rs. 102 crore on Indian Hotels Company, adding it to his portfolio with a stake of 1.05%.
IndiGo says it is laying off 10% of its workforce owing to the pandemic's effect on the business, saying that it is the first time in its history it has had to make such a 'painful decision'.
Markets closed up today. Nifty 50 closed at 11022.20 (120.5, 1.1%) , BSE Sensex closed at 37418.99 (398.9, 1.1%) while the broader Nifty 500 closed at 8985.10 (89.8, 1.0%). Market breadth is in the green. Of the 1693 stocks traded today, 948 were gainers and 673 were losers.
MCX, Jubilant Life, Dixon Tech hit fresh 52 week highs.
Continuing replacement demand is helping keep sentiment up for auto battery companies like Amara Raja despite weak auto sector growth.
M&M Financial Services delivered a strong quarter for Q1, with the emphasis on rural recovery.
Covid19 impact: Cafe Coffee Day says it has closed 280 more outlets in the April-June quarter.
HDFC Securities is a SELL on Britannia, citing high valuations (as per the buy sell zone, Britannia trades below its current PE 60% of the time) and rising debt.
YES Bank's stock is trading lower today. The bank's recently launched FPO was subscribed 95%.
Markets rise on early trading, Nifty 50 was trading at 10996.25 (94.6, 0.9%) , BSE Sensex was trading at 37390.09 (370.0, 1%) while the broader Nifty 500 was trading at 8963.30 (68, 0.8%). Market breadth is overwhelmingly positive. Of the 1538 stocks traded today, 1004 were in the positive territory and 455 were negative.

Riding High:

Largecap and midcap gainers today include Mahindra & Mahindra Financial Services Ltd. (229.60, 10.44%), General Insurance Corporation of India (161.75, 10.00%) and The New India Assurance Company Ltd. (120.80, 8.93%).

Downers:

Largecap and midcap losers today include Sun Pharmaceutical Industries Ltd. (483.80, -3.93%), Lupin Ltd. (864.25, -3.69%) and National Aluminium Company Ltd. (33.65, -2.32%).

Movers and Shakers

25 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Mahindra & Mahindra Financial Services Ltd. (229.60, 10.44%), General Insurance Corporation of India (161.75, 10.00%) and Venky's (India) Ltd. (1127.05, 9.22%).

Top high volume losers on BSE were Arvind Fashions Ltd. (122.15, -4.57%), Mahindra Lifespace Developers Ltd. (208.05, -1.14%) and Brigade Enterprises Ltd. (134.30, -0.89%).

The New India Assurance Company Ltd. (120.80, 8.93%) was trading at 13.0 times of weekly average. Blue Dart Express Ltd. (2032.45, 3.43%) and Nilkamal Ltd. (1205.20, 2.03%) were trading with volumes 10.6 and 10.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

15 stocks hit their 52 week highs,

Stocks touching their year highs included - Alembic Pharmaceuticals Ltd. (1011.45, 3.54%), Britannia Industries Ltd. (3982.65, 5.22%) and Cadila Healthcare Ltd. (374.30, -0.82%).

27 stocks climbed above their 200 day SMA including Capri Global Capital Ltd. (185.50, 10.29%) and Aegis Logistics Ltd. (189.70, 4.00%). 9 stocks slipped below their 200 SMA including Metropolis Healthcare Ltd. (1462.80, -3.08%) and Westlife Development Ltd. (340.90, -2.63%).