Mumbai: The benchmark Sensex rallied over 130 points above the 32,000-mark on Friday as Reliance Industries Ltd (RIL) reported its highest quarterly earnings. The numbers came in after market hours Thursday. Besides, better-than-estimated results by Wipro gave investors more confidence. The 30-share index bounced 131.48 points, or 0.41%, at 32,035.88. The big movers were IT, technology, oil and gas and realty. The gauge had lost 50.95 points Thursday. The NSE Nifty gained 26.65 points, or 0.26%, to 9,899.95. According to traders, ample liquidity from foreign funds and increased buying by retailers following RIL’s robust numbers provided a perfect platform.
The stock of RIL, a market heavyweight, soared 2.03%, to Rs1,559.75, in early trade after the company on Thursday reported its highest quarterly consolidated net profit of Rs9,108 crore in three months to June on the back of higher petrochemical margins and one-time gain from sale of African asset. Stocks of Wipro, India’s third largest IT firm, was also trading 7.06% higher at Rs288 after the company Thursday posted a 1.2% rise in its consolidated net profit at Rs2,076.7 crore for June quarter. Besides, the company’s board announced a share buyback proposal of Rs 11,000 crore entailing 34.3 crore shares at Rs 320 apiece. Other gainers included Infosys, Coal India, Asian Paints, NTPC, SBI, TCS, Tata Motors, HDFC Bank and ICICI Bank, rising by up to 1.04%.
■ 11.55am: Reliance Industries (RIL) shares rise nearly 2% to trade at Rs1557.50 ahead of the company’s 40th AGM (annual general meeting).
■ 11.45am: Sterlite Technologies shares rise 16%. JP Associates shares rise over 9%, Delta Corp shares rise 5.9%, and Welcorp shares rise 5.64%.
■ 11.15am: Bharti Airtel Ltd fell 2.2% while Idea Cellular Ltd fell 2% ahead of the Reliance Industries Ltd annual general meeting due after 11am on Friday.
■ 10.53am: Driven by Wipro, TCS, Infosys, Coal India and Reliance Industries (RIL); BSE IT index and BSE energy index jump. The BSE energy index rises 2.14%. BSE IT index rises 1.42% and Nifty IT index rises 1.94%.
■ 10.03am: BSE Sensex trades higher by 136 points, or 0.43%, to 32,041, while the Nifty 50 rises 41 points, or 0.42%, to 9,914.
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■ 9.30am: Balaji Telefilms Ltd rose 7.2% to Rs200.05 after RIL acquired a 24.92% stake in film and television production house Balaji Telefilms Ltd in a deal worth Rs413.28 crore. The stake purchase will give RIL access to content generated by Balaji Telefilms for use by its telecom arm, Reliance Jio Infocomm Ltd.
■ 9.25am: Wipro Ltd rose 5.6% to Rs284. Wipro’s dollar revenue inched up 0.9% sequentially to $1.9 billion in the three months to June (0.3% rise in constant-currency terms). This better-than-expected show was primarily on account of higher spend from banking clients as the company reported a 4.1% sequential growth in BFSI (banking, financial services and insurance). The company also approved a Rs11,000 crore share buyback plan.
■ 9.20am: Jaiprakash Associates Ltd rose 6.3% to Rs24.50 after Ace investor Rakesh Jhunjhunwala bought 1.03% stake in the company during June quarter.
■ 9.15am: The rupee opened at 64.39 a dollar. At 9.15am, the rupee was trading at 64.38 a dollar, up 0.07% from its Thursday’s close of 64.43.
■ 9.10am: Reliance Industries Ltd rose 2% to Rs1,560 after the company reported a consolidated quarterly net profit increase of 28%, beating analysts’ estimates, helped by higher-than-expected refining and petrochemicals margins and a one-time gain.Net profit rose to Rs9,079 crore in the quarter ended June from Rs7,077 crore a year earlier.
■ 9.05am: The 10-year bond yield was at 6.449%, compared to its previous close of 6.452%. Bond yields and prices move in opposite directions.
■ 9.00am: South Korean won was up 0.26%, Philippines peso 0.15%, Thai baht 0.09% and Indonesian rupiah 0.05%. However, Taiwan dollar was down 0.14%, China offshore 0.1%, China renminbi 0.09% and Singapore dollar 0.06%.
With inputs from PTI
First Published: Fri, Jul 21 2017. 09 33 AM IST