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Buzzing Stocks: SBI, HPCL, Havells India and others that will be in focus today
Market Updates: Benchmark indices extended the early gains with Sensex above 50,000 level.The Sensex was up 587.81 points or 1.19% at 50152.67, and the Nifty was up 166.10 points or 1.11% at 15072.10. About 1851 shares have advanced, 695 shares declined, and 91 shares are unchanged.
Havells India share price down 3%
Havells India share price was trading lower by over 3 percent on May 21, a day after the company declared its Q4 results.
The electrical goods major posted a 71 percent year-on-year (YoY) increase in its March quarter (Q4) consolidated net profit at Rs 303.83 crore. The total income for Q4 was up 50.8 percent at Rs 3,375.87 crore.
The positive sentiment in the domestic currency is influenced by a rally in global markets and the dollar’s weakness against the major currencies, which should limit downsides. It could retrace towards 73.00 levels.
The dollar-rupee May contract on the NSE was at Rs 73.17 in the last session. The open interest fell almost 2.8% for the May series.
With this level of volatility how can it be called a currency? #cryptomarket— Rajiv Anand (@rajivanand) May 21, 2021
Indian rupee opened higher at 72.97 per dollar on Friday against previous close of 73.10, amid buying seen in the domestic equity market. On May 20, rupee ended marginally higher at 73.10 per dollar against Wednesday’s close of 73.16.
Nifty PSU Bank index rose 1 percent supported by the Canara Bank, UCO Bank and Indian Bank
HPCL share price touches 52-week high:
Hindustan Petroleum Corporation (HPCL) share price touched a 52-week high of Rs 288, rising 8 percent on May 21 a day after the company declared its Q4 numbers.
State-run oil retailer on May 20 reported a 28.2 percent sequential growth in standalone profit at Rs 3,018 crore in the quarter ended March 2021. Profit in the December 2020 quarter stood at Rs 2,345.6 crore.
The standalone revenue from operations increased by 10.1 percent sequentially to Rs 85,203.55 crore in Q4FY21.
Zee Entertainment Enterprises (ZEE) share price rose 4 percent on May 21, a day after the company reported a consolidated profit of Rs 275.8 crore for the March 2021 quarter, driven by strong operating performance. The company had reported a loss of Rs 766.7 crore in the same quarter last year.
The company’s consolidated revenue increased 0.8 percent year-on-year to Rs 1,965.8 crore in Q4FY21, with advertisement revenue growing 8.1 percent to Rs 1,122.96 crore and subscription revenue rising 8.4 percent to Rs 803.35 crore.
Nifty Bank index added 1 percent led by the IndusInd Bank, Kotak Mahindra Bank, Bandhan Bank
SBI to announce Q4 numbers today:
India’s largest lender State Bank of India will report its quarterly earnings for the March quarter today, May 21. The bank is expected to report an over 100 year-on-year growth in standalone profit for the March 2021 quarter, driven by a decline in provisions, healthy net interest income & pre-provision operating profit. Brokerages expect the low base of the previous fiscal to also support numbers in Q4. Click to Read More