NEW DELHI: A drop in crude oil prices and firm rupee on Monday gave the much-needed boost to the bulls, who continued their winning momentum for the third session in a row. The S&P BSE Sensex added 240.61 points to end at 35,165, while NSE's Nifty50 index gained 83.50 points to close at 10,688.
Here's a look at Mondays key newsmakers:
Manpasand crashes 20%
Shares of Manpasand Beverages hit lower circuit on Monday after Deloitte Haskins and Sells resigned as auditor ahead of the companys quarterly results scheduled to be released on Wednesday. This apart, Kotak Institutional Equities suspended rating for Manpasand Beverages from buy. The stock shut shop at Rs 344.80 apiece on BSE. READ MORE
Up, up and away!
Shares of Justdial climbed as much as 23.17 per cent in the intraday trade. Last week, the company reported 53.68 per cent annual growth in net profit at Rs 38.96 crore for the quarter to March. It had posted a net profit of Rs 25.35 crore in the same quarter last year. The stock settled at Rs 609.05 apiece on BSE, up 20.03 per cent.
Down and out!
Mumbai-based technology company Vakrangee hit lower circuit limit for the 25th session in a row. The stock has lost over 70 per cent since it last closed in the green on April 20. The stock ended at Rs 38 apiece, down 4.88 per cent. READ MORE
In good spirits
Shares of pharma major Sun Pharma ended 7.11 per cent higher at Rs 499.70 apiece on BSE after Global brokerage CLSA revised target price upwards to Rs 600 from Rs 445 earlier. “EPS to nearly double as monetisation of specialty pipeline begins. We upgraded Sun Pharma from Sell to Buy as we believe its earnings bottomed,” CLSA said. READ MORE
Building gains
Infrastructure major Larsen & Toubro reported a 4.69 per cent jump in net profit at Rs 3,167 crore for March quarter, beating Rs 3,098 crore estimated by analysts in an ET Now poll. The engineering and construction firm had reported Rs 3,025 crore profit in the year-ago quarter. The stock closed 2.52 per cent higher at Rs 1,377.60. READ MORE
Spurt in open interest
Bharat Financial Inclusion witnessed the biggest jump in open interest at 37.94 per cent, followed by Muthoot Finance (32.86 per cent) and Piramal Enterprises (31.68 per cent).
Stocks in oversold/overbought zone
Technical indicator RSI (Relative Strength Index) showed 5 stocks have entered the overbought zone, namely Kiri Industries, Colgate Palmolive (India), Ind-Swift Laboratories, Sharda Motor Industries and Ratnamani Metals. IVRCL, Rolta India, Shriram EPC and Mangalam Drugs are among the stocks that slipped into oversold zone.
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