Thursday, May 03, 2012
Titan Industries, MMTC, United Breweries and United Phosphorus are among the other gainers. Sun TV Network surged 5.12% to Rs 301 and topped the gainers in the BSE's 'A' group. The stock rose on volume of 1.39 lakh shares, higher than an average daily volume of 49,000 shares in the past two weeks. The stock had underperformed the market over the past one month until 30 April 2012, falling 8.54% compared with the Sensex's 0.49% fall. The scrip also underperformed the market in past one quarter, falling 1.55% as against 2.70% rise in the Sensex. Titan Industries gained 4.25% to Rs 242.85 after net profit jumped 72.2% to Rs 144.28 crore on 28.3% growth in net sales to Rs 2281.42 crore in Q4 March 2012 over Q4 March 2011. It and was second biggest gainer in 'A' group. The company announced the results after market hours on Monday, 30 April 2012. Stock market remained closed on Tuesday, 1 May 2012, on account of Maharashtra Day.
Key benchmark indices slipped into the red to hit fresh intraday lows in late trade as index heavyweight Reliance Industries (RIL) weakened. The barometer index, BSE Sensex, was provisionally down 47.36 points or 0.27%, off about 170 points from the day's high and up close to 5 points from the day's low. The market breadth turned negative from positive in late trade. FMCG giant Hindustan Unilever (HUL) scaled record high after strong Q4 results. Bharti Airtel gained after the company said its consolidated EBITDA margin was sustained at a robust level of 33.3% in Q4 March 2012, benefitting from scale and cost efficiencies. Capital goods stocks declined. Tata Motors declined on poor sales in April 2012. Mahindra & Mahindra (M&M) rose after strong sales in April 2012. Maruti Suzuki India fell on reporting flat growth of sales in April 2012. Hero MotoCorp reversed intraday gains on profit booking after reporting good Q4 results. Bajaj Auto fell after company reported muted sales growth in April 2012. IT stocks were mostly higher on positive economic data in US, the biggest outsourcing market for the Indian IT firms.