Indices at previous closing
Nifty50: 15,337 ▲ +36 (+0.2%)
Sensex: 51,115 ▲ +97 (+0.1%)
Nifty Bank: 35,095 ▲ +410 (+1.1%)
In the news
Sun Pharma’s Q4 profit soars
- In the March quarter, India’s biggest pharma company saw a 4.4% rise in its consolidated revenue to ₹8,431 crore. This growth was driven by a 13% jump in its domestic sales.
- It registered a 124% jump in consolidated net profit to ₹894 crore, which could have been higher but for an exceptional loss of ₹673 crore relating to various litigation settlements pertaining to its subsidiaries. The stock fell about 0.5% yesterday, but the results were declared after market hours.
Eicher Motors sees pick-up in demand
- The maker of Royal Enfield motorcycles reported a strong 73% rise in profit to ₹526 crore on the back of a pick-up in demand from both rural and urban segments. However, the numbers are lower than street estimates of ₹566 crore.
- Revenue rose 33% in the March quarter compared to that of last year. In FY21, it increased its distribution reach by 535 dealerships, taking the total to 2,056 retail touchpoints. The results were declared after market hours. The stock was down about 1% yesterday.
Solar Industries posts robust quarter
- The explosives manufacturer reported a 79% YoY growth in its net profit, which stood at ₹95 crore. An uptick in both volumes and realisation helped revenues grow by 45%.
- It has an order book of ₹830 crore in the industrial explosives business and ₹680 crore in the defence business. For FY22, the company has given a business growth guidance of over 30%. The stock closed 0.6% higher and has gained nearly 9% so far this month.
Hester Bio to make Covaxin drug
- Bharat Biotech has signed an agreement with Gujarat Covid Vaccine Consortium (GCVC) for the manufacturing of Covaxin. As per the agreement, Hester Biosciences (which is part of the GCVC) will manufacture the drug substance for Covaxin.
- The deal value hasn’t been announced, but Hester has estimated an outlay of ₹40 crore for the project. Hester expects to supply the drug substance by August 2021 to Bharat Biotech. This will be an additional business for the company and will not affect its ongoing business. Shares of Hester Biosciences rose nearly 8% yesterday and have gained over 22% this month.
Sectoral indices (27 May)
| Top gainers | Top losers |
| Nifty PSU Bank ▲ 2.8% |
Nifty Realty ▼ 1.1% |
| Nifty Bank ▲ 1.1% |
Nifty Pharma ▼ 0.1% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.4% |
| Nikkei 225 (Japan) |
▲ 2.1% |
| Hang Seng (Hong Kong) |
▲ 0.6% |
| SSE Composite (China) | ▲ 0.1% |
| Dow Jones (US) (27 May) |
▲ 0.4% |
Fact of the day
The question mark (?) and exclamation (!) used together at the end of a sentence (?!) is called an interrobang.
Source: Cambridge Dictionary
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