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Indian bourses firm on buying demand in index pivotals

stock market

The S&P BSE Sensex was up 398.97 points at 49,348.73, the Nifty 50 index was up 134.25 points at 14,859.05, the S&P BSE Mid-Cap index was up 0.21%, and the S&P BSE Small-Cap index was up 0.54%

Key Indian benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST (Indian Standard Time), the barometer index, the S&P BSE Sensex, was up 398.97 points or 0.82% at 49,348.73. The Nifty 50 index was up 134.25 points or 0.91% at 14,859.05. The Sensex regained the key 49,000 mark in opening trade.

The S&P BSE Mid-Cap index was up 0.21%. The S&P BSE Small-Cap index was up 0.54%.

The market breadth, indicating the overall health of the market, is strong. On the BSE, 1529 shares gained and 595 shares declined. A total of 98 shares were unchanged.

Hero MotoCorp dropped 0.63%. On a consolidated basis, Hero MotoCorp posted 45.7% rise in net profit to Rs 880.94 crore on 35.52% rise in total income to Rs 8,795.76 crore in Q4 FY21 over Q4 FY20.

M&M added 1.76%. M&M said that Mahindra Group has announced the setting up of Mahindra Advanced Design Europe (M.A.D.E) in the West Midlands, U.K. The new Centre of Excellence (CoE) will be a part of the Mahindra Global Design Network that includes the Mahindra Design Studio in Mumbai, India, and Pininfarina Design in Turin, Italy.

Tata Consumer Products shed 5.43%. Tata Consumer Products reported consolidated net profit to Rs 53.90 crore in Q4 March 2021 as compared with net loss of Rs 76.49 crore in Q4 March 2020. Total income increased 26.92% to Rs 3,080.18 crore.

Adani Transmission gained 2.71%. On a consolidated basis, Adani Transmission posted 152.83% rise in net profit to Rs 238.42 crore on 7.3% drop in total income to Rs 3,075.35 crore in Q4 FY21 over Q4 FY20.

Adani Power advanced 1.75%. Adani Power reported consolidated net profit to Rs 13.13 crore in Q4 March 2021 as compared with net loss of Rs 1,312.90 crore in Q4 March 2020. Total income rose 9.08% to Rs 6,902.01 crore.

Zensar Technologies gained 1.93%. Zensar Technologies announced that it has been selected by Infinity Circle, a UK-based fintech company in the wealth management space. Infinity Circle aims to bring together like-minded entrepreneurs, investors and game changers.

Aurionpro Solutions added 5.53%. It announced exit from the cybersecurity business with the sale of its investment to Forcepoint LLC., USA. The deal, for the divestment of all stake held by Aurionpro in its cyber security business is valued at a consideration of US$9.6 Million (approx. Rs 71 crore) which is net off all taxes and obligations.

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