Sensex Today Ends 345 Points Higher | DB Realty Soars 12% | Titan & Tata Steel Among Top Gainers

Mon, 29 May Closing

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After opening the day higher, Indian share markets continued their momentum as session progressed and ended higher.

Benchmark indices ended higher today tracking improved global sentiment after the US reached a tentative deal to raise the borrowing limit over the weekend. Nifty and Sensex scaled new highs today along with Nifty Bank.

At the closing bell, the BSE Sensex stood higher by 345 points (up 0.6%).

Meanwhile, the NSE Nifty closed up by 99 points (up 0.5%).

Titan and Tata Steel were among the top gainers today.

ONGC and HCL Tech on the other hand, were among the top losers today.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

The SGX Nifty was trading at 18,737, up by 134 points, at the time of writing.

Broader markets ended higher. The BSE Midcap index rose 0.3% and BSE SmallCap ended 0.4 higher.

Sectoral indices ended on a mixed note with stocks in the realty sector and metal sector witnessing most of the buying.

On the other hand, stocks from the IT sector and energy sector witnessed selling pressure.

Shares of TVS Motors and ITC hit their 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Asian stock markets ended on a mixed note. The Nikkei ended higher by 1%, while the Hang Seng was down 1%. The Shanghai Composite ended 0.3% higher.

The rupee is trading at 82.62 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% higher at Rs 59,493 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading higher by 0.1% at Rs 71,326 per kg.

Speaking of stock markets, is CCI Products a multibagger in making?

The company is evolving from differentiated commodity player to FMCG brand.

Richa Agarwal talks more about the company in the below video.

Why did Aurobindo Pharma's share price slumped 3% today.

In news from the pharma sector, Shares of Aurobindo Pharma plunged over 3% today, a day after the company posted weak Q4 results.

For the March 2023 quarter, the company reported an 11% gain in revenue at Rs 64.7 bn compared to Rs 58.1 bn in the same quarter last year.

The net profit for the quarter came in at Rs 5.1 bn, down 12% YoY against Rs 5.7 bn in the year-ago period.

The company's profit and margins remained lower compared to the year-ago quarter but were the highest in the past three quarters and exceeded estimates.

Revenue growth was pushed by double-digit growth in the US, Europe, and growth markets compared to a year ago.

On the operating front, the earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 10 bn, 3% YoY higher against Rs 9.7 bn in the year-ago period.

The margin, however, slumped by 1.3% as it came in at 15.5% in the quarter under review compared to 16.8% a year back.

The company also announced restructuring of its vaccine business as part of the verticalization of business operations.

The board of directors of Aurobindo Pharma approved the sale and transfer of all equity shares held by the company in Auro Vaccines, a wholly owned subsidiary of the company, to Curateq Biologics.

Recently, we wrote about why Aurobindo Pharma share price is falling.

The stock was on a downtrend throughout 2022.

L&T ropes in green energy stalwarts

Moving on to news from the engineering sector, Larsen & Toubro (L&T) today announced the formation of L&T Green Energy Council, a think-tank comprising eminent thought leaders, in a significant step towards building a global green energy business.

The council will identify technology trends in green energy, analyze the evolving global policy developments, evaluate emerging business models, and advise on collaborations.

L&T targets carbon neutrality by 2040 and has already embarked on initiatives encompassing green hydrogen project development/EPC, electrolyzer manufacturing, and battery cell manufacturing.

Note that L&T has rewarded investors with 10 bonuses over the last 7 decades, and the CAGR over the last 20 years stands at an impressive 25.6%.

L&T has been an investor's favourite stock for a long time and also a stock that makes it to the top 5 infrastructure stocks.

Affordable Robotics' new collaboration

Moving on to news from the auto ancillary space, shares of Affordable Robotic and Automation gained 3.5% today after it announced its collaboration with Toyota Lift Northwest. The company appointed Toyota Lift Northwest as the channel partner for its subsidiary, ARAPL Raas, in the United States.

The collaboration between ARAPL RaaS and Toyota Lift Northwest is set to boosts sales, overseeing installations, and delivering post-sales support for ARAPL RaaS products.

By leveraging Toyota Lift Northwest's extensive expertise and market insights, this partnership enables ARAPL RaaS to effectively cater to customers in the US.

ARAPL RaaS's decision to collaborate with Toyota Lift Northwest is a strategic move to expand the company's presence in the US market. By leveraging cost efficiencies and extending its reach, this partnership aligns with ARAPL RaaS's growth trajectory and bolsters its growth prospects in the region.

Affordable Robotic & Automation designs automation systems. The company offers line automation, conveyor, robotic inspection stations.

Despite the weak sentiment in the market, the stock has rallied 109% between April 2022 to April 2023.

This multibagger auto ancillary stock is a part of Vijay Kedia's portfolio.

Vijay Kedia first picked up over 1 million (m) shares in the company in September 2018. To know more, read our editorial- Ace Investor Vijay Kedia raises stake in this multibagger auto ancillary stocks.

To know what's moving the Indian stock markets today, check out the most recent share market updates here

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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