Hindustan Unilever(+4%), JSW Steel(+2%) & more
Market Summary
Nifty post record close but off intra-day highs
Companies
Cipla (+2%) gains after the company launches advanced prostate cancer drug. China’s unlock plan lifts metal stocks, JSW Steel (+2%) rises.
Sectors
Nifty FMCG (+2%) gains due to the strong performance of HUL, Dabur & Emami. Nifty Metal (+1%) rose due to the strong performance of metal stocks after China’s unlock plan. Nifty Pharma (+1%) gains due to the strong performance of Sun Pharma, Cipla & Dr Reddys Lab.
News of The Day
1.Flipkart may go for $700Mn Esop buyback as part of PhonePe financing round. (Economic Times)
2.Laurus Labs (-9%) slumps to 52-week low as Kotak Institutional Equities downgrades stock (Money Control)
3.Dharmaj Crop Guard IPO Day 2: Issue subscribed 3.82 times, retail portion booked 5.57 times. (Money Control)
4.Kotak Mahindra Bank arm to raise up to $1Bn for data centre fund. (BQPrime)
5. Fosun reportedly planning the sale of India's $3.6Bn Gland Pharma (+7%). (Business Standard)
Market Sentiment
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