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Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 224.35 points or 0.46% at 48,956.90. The Nifty 50 index was up 59.20 points or 0.4% at 14,737. Asian stocks are trading mixed. The S&P BSE Mid-Cap index was up 0.45%. The S&P BSE Small-Cap index was up 0.69%. The market breadth, indicating the overall health of the market, is strong. On the BSE, 1560 shares rose and 685 shares fell. A total of 117 shares were unchanged. On the macro front, the Wholesale price index (WPI) inflation data for April is scheduled to be released on Monday. Stocks in news: Larsen & Toubro (L&T) dropped 2.64%. L&T reported 3% rise in consolidated net profit to Rs 3,293 crore on 9% increase in revenues to Rs 48,088 crore in Q4 FY21 over Q4 FY20. The company's revenues registered a sequential growth of 35%, as execution activities normalized on easing of COVID-19 restrictions, prior to onset of the 2nd wave of the pandemic. The order inflow for the quarter January-March 2021 at Rs 50,651 crore, lower by 12% over corresponding period of the previous year with deferment of awards. International orders at Rs 18,439 crore during the quarter is at 36% of the total order inflow, with receipt of biggest Solar PV plant order and transmission line orders. Cipla lost 3.17%. Cipla reported 68% rise in consolidated net profit to Rs 413 crore on 5% increase in total revenue from operations to Rs 4606 crore in Q4 FY21 over Q4 FY20. Hero MotoCorp rose 0.83%. Hero MotoCorp is gearing up towards a gradual resumption of operations by starting single shift production at three of its plants - Gurugram and Dharuhera in Haryana and at Haridwar in the northern hill state of Uttarakhand - from Monday, May 17. In addition to producing for the domestic market in India, these plants will also have enhanced focus on catering to the Global Business (GB) markets across the world. Zensar Technologies advanced 4.39%. Zensar Technologies Inc, USA, wholly owned subsidiary of Zensar Technologies, has entered into definitive agreement(s)/document(s) for acquisition of 100% of the membership interests in M3bi, LLC, USA. Shalby rose 2.28%. Shalby announced that it has entered into a definitive agreement to acquire certain assets from Consensus Orthopedics, a company headquartered in El Dorado Hills, Sacramento, California for a cash consideration of USD 11.45 million. Kirloskar Industries rose 3.49%. Kirloskar Industries said that considering the gravity of the threat posed by COVID 19 and in compliance with the directives issued by the State Government, the company's offices will remain closed from 16 May 2021 till 1 June 2021 and all employees of the company will manage work from home. Global Markets: Overseas, Asian stocks are trading mixed on Monday as investors reacted to the release of Chinese economic data. China's industrial output grew 9.8% in April from a year ago, slower than the 14.1% surge in March, official data showed on Monday. Retail sales rose 17.7% year-on-year in April, much weaker than a 24.9% uptick expected by analysts and down from the 34.2% jump seen in March. Wall Street closed higher in a broad rally as signs of a rebounding economy squared off against mounting inflation jitters. Back home, equity indices ended near flat line on Friday. Gains were capped amid worries over the economic impact of the second wave of COVID-19 due to lockdowns and restrictions in various states. The S&P BSE Sensex, rose 41.75 points or 0.09% at 48,732.55. The Nifty 50 index declined 18.7 points or 0.13% to 14,677.80. Foreign portfolio investors (FPIs) sold shares worth Rs 2,607.85 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 613.26 crore in the Indian equity market on 14 May, provisional data showed. Powered by Capital Market - Live News
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