Indian shares ended a percent higher on Thursday, led by metals, financials and auto stocks, while the government’s capital infusion in some state-run lenders boosted public sector banks.
NSE
The Sensex ended 520 points higher at 50,030 while the Nifty rose 176 points to settle at 14,867.
On the Nifty50 index, JSW Steel, Hindalco, Tata Steel, Adani Ports, and IndusInd Bank were the top gainers while HUL, Nestle, HDFC Life, TCS and Divi's Labs led the losses.
Among sectors, the Nifty metal index jumped 5 percent while the auto, banking and fin services indices were up between 1 percent and 2 percent for the day. Meanwhile, Nifty Pharma and Nifty IT rose 0.7 percent and 0.5 percent, respectively.
Here are the key stocks that moved today:
JSW Steel: Shares of JSW Steel jumped 8 percent after the company announced the commencement of production at Dolvi Works facility. The sentiment was also lifted after credit rating agency Moody's Investors Service upgraded the outlook on the company's ratings to stable from negative, led by a strong recovery in operating performance. "The rating affirmation and outlook change to stable are driven by a solid recovery in JSW's operating performance in the third quarter of the fiscal year ending March 2021. We believe JSW will sustain the improvement over the next 12-18 months, enabling recovery in its financial metrics to levels more appropriate for its Ba2 CFR," said the agency.
Likhitha Infrastructure: Shares of Likhitha Infrastructure rallied over 7 percent after the company said it received orders worth Rs 200.22 crore from various oil & gas distribution companies during the March quarter of 2021. In a regulatory filing, the company informed that it received a contract of Rs 34.63 crore from Indian Oil Adani Gas Private Ltd for laying a pipeline from Thrissur Geographical Area to Ernakulam Geographical Area.
NIIT: Shares of NIIT were locked in 20 percent upper circuit of Rs 165.35 per share on the BSE on Thursday after the firm said its buyback offer would open on April 12, 2021. On December 24, 2020, the company’s board had approved an up to Rs 237 crore (around 98 lakh shares) buyback proposal at Rs 240 per equity share. The closing date for the buyback offer has been set for April 28. In a filing to BSE, the company said it has received final observations from Sebi on the draft letter of offer.
Reliance Infra: Reliance Infrastructure surged over 9 percent intraday on April 1 after the company sold Reliance Centre in Mumbai to YES Bank for a consideration of Rs 1,200 crore. "Reliance Infrastructure and YES Bank announced a sale transaction of Reliance Centre, Santacruz, Mumbai to YES Bank," the company said in a press release to the exchanges.
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(Edited by : Pranati Deva)