Benchmark indices traded higher in opening deals on Monday, led by gains in IT, auto, and banking stocks. The 30-share BSE Sensex pack rose 270 points to 62,297, while the broader NSE Nifty climbed 62 points to 18,376.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "Even though the Congress victory in the Karnataka elections was much better-than-expected, it is unlikely to have a negative impact on markets, which in the near-are is driven mainly by FPI inflows backed by improving fundamentals. Karnataka has a long track record of voting out the incumbents. FPIs are unlikely to be deterred by the election outcome."
Tata Motors shares rose 4.16% after the firm posted a net profit of Rs 5,407 crore for the March quarter compared to a loss of Rs 1,032 crore in Q4FY22. Consolidated revenue climbed 35% YoY to Rs 105,932 crore. The stock climbed to Rs 537.15 and was the top Sensex gainer in early trade. Market cap of the firm climbed to Rs 1.77 lakh crore.
Shares of Anil Agarwal-led Vedanta were trading flat after the metals & mining company's March quarter results. Vedanta said its consolidated profit plunged 57% YoY to Rs 3,132 crore for the March quarter compared with Rs 7,261 crore in the same quarter last year. The stock slipped 0.76% to Rs 273 on BSE. Market cap of the firm stood at Rs 1.01 lakh crore.
Shares of DLF rose over 4% to Rs 457.35 today after the realty major's consolidated net profit rose 41% to Rs 570 crore in Q4. Revenue from operations, however, fell 6% to Rs 1,456 crore for the reporting quarter. Market cap of DLF surged to Rs 1.12 lakh crore. Earlier, the stock opened at Rs 435.90 on BSE.
Adani Enterprises and Adani Transmission shares are trading lower today after the firm announced that they would raise funds totalling Rs 21,000 crore through the qualified institutional placement (QIP) route. Adani Enterprises stock fell 4.37% to Rs 1878.9 and Adani Transmission slipped 3.81% to Rs 851.25 on BSE.
Shares of Coffee Day Enterprises rose over 16% in early trade today. Total 7.14 lakh shares of the firm changed hands amounting to a turnover of Rs 2.73 crore. Market cap of the firm rose to Rs 838.67 crore.
Shares of Varun Beverages were among the top stocks with highest turnover in early trade. Total 2.99 lakh shares of the firm changed hands amounting to a turnover of Rs 46.56 crore. Market cap of the firm rose to Rs 1.03 lakh crore.
Shares of PVR Inox hit a fresh 52-week low of Rs 1,416.05 ahead of their Q4 earnings today. The stock hit a low of Rs 1,416.05 , down 2.16% today against the previous close of Rs 1,447.25 on BSE. Market cap of the firm fell to Rs 14,113 crore.
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