Market Update - Marico Surges 8% , ICICI Bank in Focus, CG Power falls 8%

Marico Surges 8% - On Q4 Results Shares of the world’s largest coconut oil maker rose over 8 percent intraday, its biggest single-day gain in nearly four years, to Rs 367 apiece. The company reported its fourth-quarter earnings on Monday.

HDFC Bank touches 52-week high - The share price rose 1.5 percent in the early trade on May 7 as the company is going to consider sub-division of its equity shares.

ICICI Bank in Focus - India’s largest private bank ICICI Bank, on Monday, reported a profit of Rs 969.06 crore as against the profit of Rs 1,020 crore in the corresponding quarter of the previous financial year. Its profit fell 5% on the back of higher provisions and increased expenditure. Total income for the quarter rose to Rs 20,913.82 crore from Rs 19,942.97 crore in the same quarter of last year.

Bharti Airtel At Seven Month High - After Q4 Results Shares of the Sunil Mittal-led telecom operator rose 2.2 percent intraday to Rs 340.85, its highest since September 2018. The company reported its March quarter results on Monday.

Marico, Bharti Airtel, Yes Bank, HDFC Bank, Tata Steel, Vedanta, Tata Motors, IndusInd Bank, Britannia, SBI, Power Grid, are among major gainers on the indices, while lowers are ICICI Bank, IOC, ONGC, Indiabulls Housing, HPCL, and BPCL. Among the sectors, except energy, all other indices are trading higher.

Navin Fluorine International slumps over 2% - The company's net profit stood at Rs 35.91 crore in March 2019, down 8.59 percent from Rs 39.28 crore in March 2018.

Rupee Opens: The Indian rupee opened marginally higher at 69.37 per dollar on Tuesday versus previous close 69.40.

Sterlite Technologies Rises - The Most In Two Months Shares of the communications equipment maker rose as much as 6.6 percent, its biggest intraday gain in two months, to 204.40 apiece.

CG Power falls over 8% - The company has said its deal with Budapest-based companies to sell its loss-making Hungary business, which was pending for nearly two years, has been terminated.

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