The domestic equity benchmarks witnessed positive momentum and traded with major gains in morning trade. The Nifty traded above the 24,600 level. Metal shares advanced after declining in the past trading session.
At 13:27 IST, the barometer index, the S&P BSE Sensex, was up 580.11 points or 0.72% to 80,615.87. The Nifty 50 index advanced 197.30 points or 0.81% to 24,606.35.
In the broader market, the S&P BSE Mid-Cap index gained 1.49% and the S&P BSE Small-Cap index added 0.94%.
The market breadth was strong. On the BSE, 2,597 shares rose and 964 shares fell. A total of 132 shares were unchanged.
New Listing:
Shares of Sanstar were currently trading at Rs 113.90 at 10:25 IST on the BSE, representing a premium of 19.89% as compared with the issue price of Rs 95.
The scrip was listed at Rs 106.40, exhibiting a premium of 12% to the issue price.
So far, the stock has hit a high of 116.40 and a low of 106.40. On the BSE, over 31.23 lakh shares of the company were traded in the counter so far.
Result today:
Cholamandalam Investment and Finance (up 2.12%), CIPLA (up 2.34%), City Union Bank (down 1.10%), Equitas Small Finance Bank (down 1.08%), GMDC (down 0.23%), Interglobe Aviation (up 1.54%), IndusInd Bank (up 0.69%), Intellect Design Arena (up 0.20%), Kaynes Technology (up 0.75%), KEC International (down 0.62%), KFin Technologies (up 1.03%), Latent View Analytics (up 1.65%), Laxmi Organics Industries (down 0.48%), Nuvama Wealth Management (up 1.66%), Power Grid Corporation of India (up 0.96%), Piramal Pharma (up 0.87%), Punjab and Sind Bank (up 4.56%), Sanofi India (up 0.96%), Shriram Finance (up 2.51%), and TTK Prestige (up 0.64%) will announced their quarterly earnings later today.
Buzzing Index:
The Nifty Metal index added 2.07% to 9,337.35. The index declined 1.09% in the past trading session.
Jindal Steel & Power (up 3.17%), Vedanta (up 2.96%), NMDC (up 2.88%), JSW Steel (up 2.4%) and Tata Steel (up 2.25%), Steel Authority of India (up 2.22%), Welspun Corp (up 2.11%), Hindalco Industries (up 2.03%), Hindustan Copper (up 1.83%) and National Aluminium Company (up 1.58%) advanced.
Stocks in Spotlight:
Mahanagar Gas added 1.90% after the company's consolidated revenue increased 1.5% to Rs 1,590 crore in Q1 FY25 as compared with Rs 1,567 crore in Q1 FY24. Net profit jumped 7.4% to Rs 285 crore during the quarter as compared with Rs 265 crore posted in corresponding quarter last year.
United Breweries declined 2.33%. The company reported consolidated net profit of Rs 173 crore, up 27.5% as compared with Rs 136 crore in Q1 FY25. Revenue jumped 10.8% YoY to Rs 2,475 crore in Q1 FY25.
Glenmark Life Sciences shed 0.41%. The company's consolidated net profit declined 17.7% YoY to Rs 111 crore in Q1 FY25 as compared with Rs 135 crore. Revenue fell 1.8% to Rs 589 crore in Q1 FY25 from Rs 578 crore in Q1 FY24.
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