Market summary
Nifty 50 trades in a range and closes flat post market, overall continuing the downtrend HDFCLIFE , ADANI ENTERPRISES LIMITED and TECH MAHINDRA LIMITED down by 2 to 3%.
Companies
TCS standalone net sales for March 2023 show impressive 17.24% YoY increase, reach Rs 49,780.00 crore.
ITC became the 11th Indian company to cross the Rs 5-trillion market capitalisation mark. Its shares have surged 21% so far this year. Cigarette tax stability, along with deterrent actions by enforcement agencies, allowed for continuous volume recovery
Sectors
Nifty METAL (-2.13%) down due to the weak performance of Adani Enterprise, Jindal Steel, & Hindalco.
Nifty REALTY (-1.87%) down due to the weak performance of Oberoi Realty, Indiabulls Real, & DLF.
Market news
KM Birla's return to Vodafone Idea board prompts 10% share price surge.
Strong Q4 performance propels Cyient shares to 9% gain. The stock outperformed Nifty50 with 43.5% returns over 12 months.
HCL Tech's Q4 earnings report prompts 3% share price gain and market enthusiasm. A consolidated net profit of Rs 3,983 crore for Q4, beating ET Now poll estimate.
PNB Housing Finance stocks rise by 3% as Goldman Sachs sells 5 lakh shares, and Nippon India MF picks up the same raising its holding by 0.29%.
Mirza International was locked in a 10% upper circuit post the demerger of RedTape