Market near day's high; pharma shares surge over 1%
The key equity indices traded with significant gains in morning trade, driven by strong buying interest among traders. The Nifty traded above the 24,900 level. Investors remain focused on global cues and Q4 earnings announcements. Pharma stocks saw a rebound, advancing after losses in the previous session.
At 10:25 IST, the barometer index, the S&P BSE Sensex added 727.30 points or 0.90% to 81,914.51. The Nifty 50 index rallied 224.75 points or 0.91% to 24,911.75.
In the broader market, the S&P BSE Mid-Cap index added 0.90% and the S&P BSE Small-Cap index jumped 0.74%.
The market breadth was strong. On the BSE, 2,325 shares rose and 1,137 shares fell. A total of 199 shares were unchanged.
Economy:
India's infrastructure output, which tracks activity across eight sectors and makes up 40% of the country's industrial production, grew at 0.5% annually in April as against 4.6% in March, data from Ministry of Commerce & Industry showed on Tuesday. The Index of eight Core Industries is the measure of combined and individual performance of production of eight core industries: Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity.
India's retail inflation for farm as well as rural workers eased marginally to 3.48% and 3.53%, respectively, in April this year compared to the pace of price hikes for the two categories at 3.73% and 3.86% recorded in March. The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) increased by 1 point each in April 2025 to stand at 1307 and 1320 points, respectively. The CPI-AL and CPI-RL were 1306 points and 1319 points, respectively, in March.
Result Today:
IndusInd Bank (down1.16%), Oil & Natural Gas Corporation (ONGC) (up 0.32%), Astral (down 0.60%), Colgate Palmolive (India) (up 1.08%), H.G. Infra Engineering (up 0 .48%), InterGlobe Aviation(up 0.30%), Ircon International (up 1.30%), Mankind Pharma (down 0.01% ), National Aluminium Co (up 1.09%), NTPC Green Energy (down 0.05% ), Oil India (up 0.87%), Power Finance Corp (up 0.84% ), Rail Vikas Nigam (up 0.31% ), Trident (down 0.54% ), VRL Logistics (up 1.35% ) will declare their results later today.
Buzzing Index:
The Nifty Pharma index advanced 1.80% to 21,842.85. The index fell 1.31% in the past trading session.
Gland Pharma (up 3.66%), Torrent Pharmaceuticals (up 3.18%), Ajanta Pharma (up 2.33%), Alkem Laboratories (up 2.08%), Divis Laboratories (up 1.99%), Granules India (up 1.96%), Natco Pharma (up 1.85%), Aurobindo Pharma (up 1.79%), Lupin (up 1.76%) and Sun Pharmaceutical Industries (up 1.73%) surged.
Gland Pharma rallied 3.66%. The companys consolidated net profit declined 3.1% to Rs 186.54 crore in Q4 FY25, compared with Rs 192.42 crore in Q4 FY24. Revenue from operations fell 7.3% YoY to Rs 1,424.91 crore in Q4 FY25.
Stocks in Spotlight:
Aster DM Healthcare fell 3.24%. The company reported consolidated net profit of Rs 79.02 crore in Q4 FY25 compared with net loss of Rs 24.03 crore in Q4 FY24.Revenue from operations increased 2.7% YoY to Rs 1,000.34 crore during the quarter ended 31st March 2025.
J kumar Infraprojects declined 1.42%. The companys consolidated net profit rose 12.1% to Rs 114.20 crore on 14.6% jump in revenue from operations to Rs 1,632.74 crore in Q4 FY25 over Q4 FY24.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
29 minutes ago
- Time of India
Warren Buffett shifts gears: Dumps two major stocks, pours billions into Consumer Staples, here's why
In a strategic shift reflecting caution towards current market conditions, Warren Buffett's Berkshire Hathaway has divested from two prominent U.S.-based investments, signaling a reevaluation of its investment approach. Exit from S&P 500 ETFs Berkshire Hathaway has fully exited its positions in the Vanguard S&P 500 ETF (VOO) and the SPDR S&P 500 ETF Trust (SPY), selling shares worth approximately $22 million each. These ETFs, which track the S&P 500 index, have been long-standing recommendations by Buffett for individual investors due to their broad market exposure and low costs. Despite this move, Buffett's endorsement of index funds for individual investors remains unchanged. The decision to sell these holdings, which constituted a minor portion of Berkshire's extensive portfolio, is viewed by analysts as a routine portfolio adjustment rather than a shift in investment philosophy. Reduction in Financial Sector Holdings In addition to the ETF sales, Berkshire Hathaway has significantly reduced its stakes in several major financial institutions. The conglomerate cut its holdings in Bank of America by 14.7%, Citigroup by 73.5%, and Capital One Financial by 18.1%. Furthermore, it completely exited its position in Ulta Beauty. These adjustments suggest a strategic realignment of Berkshire's investment portfolio, possibly reflecting concerns about the financial sector's performance amid economic uncertainties. Live Events Increased Investment in Consumer Staples Contrasting its divestments, Berkshire Hathaway has initiated a substantial investment in Constellation Brands, acquiring 5.6 million Class A shares valued at approximately $1.2 billion. Constellation Brands is known for its portfolio of alcoholic beverages, including popular beer brands like Modelo and Corona. This move indicates a strategic pivot towards consumer staples, sectors traditionally considered more resilient during economic downturns. Market Implications Berkshire Hathaway's recent portfolio adjustments, including the liquidation of S&P 500 ETFs and a reduction in financial sector holdings, have raised questions among investors about potential market volatility. However, analysts suggest that these moves are consistent with Buffett's long-term investment strategy and do not necessarily indicate an anticipation of a market downturn. The company's increased investment in consumer staples further underscores a cautious yet strategic approach to navigating current market conditions. While the divestment from certain assets may prompt investor scrutiny, the underlying strategy appears aligned with Berkshire Hathaway's long-term investment philosophy. FAQs Did Warren Buffett change his stance on index funds? No. While Berkshire Hathaway sold its ETF holdings, Buffett still endorses index funds for individual investors. Why did Berkshire exit the S&P 500 ETFs? The sales were minor relative to its portfolio and are viewed as routine rebalancing rather than a philosophical shift.
Time of India
34 minutes ago
- Time of India
Painting believed to be only one Mahatma Gandhi sat for going under hammer at Bonhams
TOI correspondent from London : An oil portrait believed to be the only painting Mahatma Gandhi ever sat for is going under the hammer at Bonhams in July with an estimate of £50,000-£70,000 (Rs 58 lakh to Rs 81 lakh. ) It is the first time this portrait has ever been sold at auction as it remained in British artist Clare Leighton's collection until her death in 1989, after which it was passed down through her family. Leighton, reputed for her wooden engravings, was introduced to Gandhi when he visited London in 1931 to attend the Second Round Table Conference. At the time, she was in a relationship with political journalist Henry Noel Brailsford, who was a passionate supporter of Indian Independence. He had travelled to India in 1930 where he met key Independence figures. Afterwards he published the book 'Rebel India', met Gandhi in London in 1931 and introduced Leighton to him. She became one of very few artists admitted to his office and was given the opportunity to sit with him to sketch and paint him in 1931. In Nov 1931 Leighton showcased her portraits at the Albany Galleries in London. The following month, Gandhi's personal secretary, Mahadev Desai, wrote a letter to Leighton, a copy of which is attached to the backing board, which reads: 'It was such a pleasure to have had you here for many mornings doing Mr Gandhi's portrait.' According to the artist's family, the portrait was on public display in 1974 when it was allegedly attacked with a knife by a Hindu right-wing activist. The catalogue entry states: 'We have found no documentation to corroborate this, but the painting shows signs of restoration to what appears to be repaired tears in several places. A label attached to the backing board confirms the painting was restored in 1974 by the Lyman Allyn Museum Conservation Laboratory. ' 'There is nothing comparable to this painting in existence as it was painted in his lifetime and was a painting that he sat for on multiple occasions,' Rhyanon Demery, head of sale, told TOI. The auction takes place from 7 to 15 July.
Time of India
39 minutes ago
- Time of India
Major infra upgrade starts at city airport's terminal 2
Jaipur: Jaipur International Airport has commenced 14 projects with an investment of over Rs 600 crore for infrastructure development and upgrade at Terminal 2, officials said Tuesday. This is being done in view of the increasing passenger load at the airport, they said. Officials stated that 15,000 square meters of expansion will significantly enhance the capacity of the existing terminal. Currently, the terminal has 39 check-in counters, and 24 new counters are planned to be added. This will reduce waiting time for passengers to a large extent. "These projects collectively aim to elevate the infrastructure of Jaipur airport, ensuring it meets international benchmarks and provides an enhanced travel experience," said the airport's spokesperson. In addition to new check-in counters, the airport is also adding eight self-baggage drop (SBD) counters. The security screening process will be enhanced with nine new X-ray baggage inspection system (XBIS) machines. An automative tray retrieval system is also being added at the terminal. "This increase will enable fast and thorough screening of baggage. Boarding gates are also being increased from six to 10. Two new entry gates will be added, taking the total number to six. The installation of two new aero bridges on the second floor of Terminal 2 will facilitate easier boarding and deboarding of passengers and will reduce the turnaround time," added the official.
