Sensex Live Updates: Sensex and Nifty are trading higher Monday led by gains in banks and financial stocks. Midcap and smallcap indices are up more than half a percent each. Among sectors, banks, financials, IT, auto, pharma and realty indices traded higher, while metals and FMCG are under pressure.
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PSU banking is always a trade it is not like you can’t take a view for the next 10 years, you need to cross the bridge as and when it comes through. If you ask me from 12-18-24-36 months whether the view is positive my answer is yes. We are holding this stock in our portfolio for our PMS clients.
We have been adding overweight to capital good sectors, we are identifying a number of opportunities into capex stories, these are great companies with great balance sheet and great governance. Auto ancillaries is one space which we like, speciality chemicals we are holding for the last four years, this space is doing extraordinary well. Also, select healthcare companies where we continue to remain positive.
Shree Cement has posted its Q4FY21 earnings. Sales volume and margins have both come in below expectations. HM Bangur, MD of Shree Cement, discussed the performance. “Demand till April 15 was good. Post that the demand is hardly 60 percent of the normal demand. However, in the last five days, I can see signs of demand returning. Still, it is muted,” he said in an interview with CNBC-TV18. “Once the lockdown is clear, once the workers get the confidence – they have gone home and are reluctant to come back till the situation is clear. From July onwards, next quarters will be alright,” he added.
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State-run city gas utility Mahanagar Gas (MGL) will be reporting its Q4FY21 numbers. The street is expecting an operational weak quarter for the company. There could be some margin contraction. While overall revenues are expected to see a growth of 6 percent on a sequential basis at Rs 710 crore, the EBITDA is expected to be flat at Rs 316 crore. Margins, quarter-on-quarter (QoQ) could see a decline of 280 basis points to come in at 44.7 percent. Profit is seen up 1 percent at Rs 220 crore.