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Barometers extended losses and hit fresh intraday low in early afternoon trade. The Nifty held the 14,600 mark. Metal stocks corrected for third day. At 12:24 IST, the barometer index, the S&P BSE Sensex, was down 73.44 points or 0.15% at 48,617.98. The Nifty 50 index declined 54 points or 0.37% to 14,642.60. In broader market, the S&P BSE Mid-Cap index was down 1.12% while the S&P BSE Small-Cap index fell 1.17%. The market breadth was negative. On the BSE, 1176 shares rose and 1724 shares fell. A total of 162 shares were unchanged. Derivatives: The NSE s India VIX, a gauge of market s expectation of volatility over the near term, rose 2.46% to 20.575. The Nifty 27 May 2021 futures were trading at 14,646.50, at a premium of 40.5 points as compared with the spot at 14,606. ....
Polycab India jumped 6.15% to Rs 1638.10 after the company s consolidated net profit jumped 32% to Rs 283.2 crore in Q4 FY21 from Rs 215.1 crore in Q4 FY20. Revenue during the quarter increased 43% year-on-year (YoY) to Rs 3,037.4 crore, with healthy underlying growth across segments and rising share of B2C business. Wires and cables business grew 35% YoY to Rs 2487.5 crore in Q4 FY21, led by healthy pickup in infra and industrial project activities, improving consumer sentiment, and higher sales realisation. Business performance was broadly consistent across distribution channel as well as institutional business. Institutional business saw a decent sequential recovery. Housing wires sustained strong momentum. ....