Sensex, Nifty Gain For Third Day Aided By Financials
Catch all live updates on share prices, index moves, corporate announcements and more from the Sensex and Nifty, today.

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India's stock benchmarks logged gains for the third day, aided by banking, realty, auto and information technology stocks, amid a moderation in crudes prices after Russia hinted at de-escalation of the conflict with Ukraine.
The S&P BSE Sensex added nearly 750 points to 58,683.99. The NSE Nifty advanced 1% to close just below 17,500.
The move was the biggest since rising 1.2% on March 22. Bajaj Finserv Ltd. had the largest increase, rising 3.8%. Today, 32 of 50 shares rose, while 18 fell.
The S&P BSE MidCap underperformed its larger peers, rising 0.8% while the S&P BSE SmallCap almost mirrored Sensex and Nifty, gaining over 1%. Twelve of the 19 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Finance rising over 1.7%. On the flipside, the S&P BSE Metal index lost nearly 3%.
The market breadth was skewed in the favour of bulls. About 2,114 stocks advanced, 1,285 declined and 110 remained unchanged.
"In the last two weeks, some recovery is visible in the market from the oversold zone led by key drivers like peace talk between Russia-Ukraine, Fed decision on an expected line, and State election results in favor of the ruling government", according to Neeraj Chadawar, Head - Quantitative Equity Research, Axis Securities. Adding that risk appetites are back in the market, he observed that the investors’ sentiments "further improved with ease in crude prices that lead to more buying interest, especially towards riskier assets like equity. In the near term, market performance is likely to be range-bound, as the clear trend is likely to emerge only after the volatility sustains at current levels for a longer time. Q4FY22 earnings commentaries remain critical at this juncture".
Bharat Heavy Electricals Rises The Most In A Week
Shares of Bharat Heavy Electricals Ltd. rose the most in a week after the company won an order for packaging for a state-owned refinery in Iraq.
The order pertains to the design, engineering, manufacturing and supply of electric motor driven compressor.
The order will be executes in the company plants at Hyderabad and Bhopal.
Source: Exchange Filing, Bloomberg
Zomato Gains The Most In 18 Weeks
Shares of Zomato rose nearly 10%, the most in 18 weeks to Rs 86 apiece, still nearly 50% off the record Rs 169.
Trading volume was slightly above the 30-day average volume at this time of the day.
Of the 19 analysts tracking the company, 16 maintain 'buy', two suggest 'hold' and one recommends 'sell'. The return potential on the stock is at 46.8%.
Source: Bloomberg
Saregama Jumps After Approving Demerger Of Entire Distribution Business
Shares of Saregama India rose 5%, the most in nearly four weeks, after the company approved the demerger of entire distribution business including carvaan and other non-core assets in publication business.
The turnover of the demerged division of the company for FY2021 was Rs 17.63 crore (3.78% of the total turnover of the company).
The company said that the demerger would result in unlocking value of each of the business for the shareholders of the demerged entity and enable focussed growth strategy.
Source: Exchange Filing, Bloomberg
31 Companies Selected Under PLI Scheme For Manufacturing Of Telecom & Networking Products
31 companies have been selected under the PLI Scheme for manufacturing of telecom and networking products.
Reliance-backed Sanmina, Dixon Electro, HFCL Technologies, Tejas Networks, Foxconn, Nokia India among companies selected for telecom PLI scheme.
16 MSMEs, eight domestic manufacturers and seven global companies have been approved under the PLI scheme.
Projected investment in the telecom sector under the PLI scheme is Rs 3,344.9 crore.
Telecom PLI scheme to have overall financial outlay of Rs 12,195 crore over 5 years.
Source: PIB