On Monday, the market reflected strong investor confidence as Sensex and Nifty both gained more than 1.5%. Sensex added 848.18 points to close at 49,580.73, or 1.74% above its previous close. The 50-stock barometer Nifty, on the other hand, was up by 1.67% as it gained 245.35 points during the day trade. Nifty closed just below the 15,000-level with 14,923.15 points. Financial and metal indices primarily drove the market along with auto and energy.
Here are some top stocks that moved the market:
Hester Biosciences:
Hester Biosciences was up since the early trade as the pharmaceutical firm has revealed that it is in talks with Bharat Biotech. The company is eyeing technology transfer for producing Bharat Biotech’s COVID-19 vaccine ‘Covaxin’. By the closing bell, Hester Biosciences’ shares touched the upper circuit at 20%. The stock closed at Rs. 2,968.85.
Larsen & Toubro:
The engineering major’s stocks tipped by 1.91% despite reporting a consolidated profit of Rs. 3,292.81 crores on May 14. The consolidated profit of the firm has increased by 3% as compared to the year-ago period while its profit from continuing operations was at Rs. 3,820.16 crores, marking an 11.4% growth YoY. The downward trend was seen due to increased tax cost – which was 116% higher at Nifty Rs. 2,086.71 crores – and lower-than-expected growth in revenue. Larsen & Toubro closed at Rs. 1,388.40 on Monday.
Federal Bank:
Following a volatile trade, Federal Bank’s share price stood at Rs. 81.50 or 2.32% higher Nifty than its previous close. The bank had reported its Q4 net profit at Rs. 477.8 crores against Rs. 301.2 crores in the year-ago period, thereby registering a 58.6% jump YoY. The NII of the bank has also increased to Rs. 1,420.4 crores during the same period, which is 16.8% higher against Rs. 1,216 crores.
Bharti Airtel
Bharti Airtel stock prices at Nifty tumbled by more than 2% on Monday despite the telecom major extending a consolidated net profit of Rs. 759 crores in Q4 FY2021. Last year, Bharti Airtel had reported a loss of Rs. 5,237 crores during the same period. The telecom operators’ revenue from operations grew by 12% from Rs. 23,018 crores during the year-ago period to Rs. 25,747 crores now. Bharti Airtel traded at Rs. 547.80 by the closing bell.
Cipla:
Cipla shed 2.28% on Monday. The pharmaceutical major had reported a growth of 72.2% in its consolidated profit on 14th May, which stood at Rs. 411.5 crores backed by operating performance. The downward trajectory of the scrip was on account of it falling short of analysts’ expectations. The North American business of the firm grew by 17% YoY while the same figure for India stood at around 4%. Consolidated revenues of Cipla have grown to Rs. 4,606.4 crores. Cipla traded at Rs. 883.45 by the closing bell.
Shilpa Medicare:
Shilpa Medicare gained nearly 12% (11.91%) at NSE on account of partnering with Dr. Reddy’s Laboratories. The duo has signed a three-year agreement to manufacture the Sputnik V vaccine to combat the COVID-19 outbreak. Shilpa Medicare’s share prices last traded at Rs. 509.80 at NSE.
This article was shared with Prittle Prattle News as a Press Release by PRNewswire
