Markets Trade Up, Karnataka elections results are factored

Stock Markets were trading extensively higher, as the Bhartiya Janata Party surged ahead in the Karnataka elections.

Key benchmark indices continue to zoom in the mid-noon hours of trade. The Nifty has surpassed the 10,900 marks. The BJP is most probably to be emerging as the single largest party in the Karnataka Assembly, as the party led in 110 constituencies while Congress is leading in 70 seats and JDS in 39 seats, as per media reports.

In the Mid-Noon hours of trade, the BSE Sensex was trading at 35,789, up 233 points, while the Nifty50 index was trading at 10,83, up 67 points.

Shares of Hindustan Unilever Ltd (HUL) was trading 1.27 percent at Rs. 1,522.65   today after the company posted stellar earnings for the quarter ended March. The company on Monday reported 14.2% increase in its standalone net profit to Rs 1,351 crore for the Q4 ended March 31, driven by a double fold volume growth.

Dr. Lal’s Pathological Labs Limited was another stock that was rising up after good quarterly numbers reported by the Company.  The revenue at Dr. Lal’s Pathological Labs was up 21% at Rs 267 crore, while the net profit was up 25% at Rs 40 crore. The stock was last seen trading at Rs 870.95, up 7.91 per cent in trade NSE.

Shares in Interglobe Aviation was trading up by 1.70% , after the company was included in the MSCI index, which is the world’s biggest index complier with roughly USD 12 trillion in assets targeted to its products.

Shares in Bombay Dyeing & Mfg Co Ltd, gained after the company posted a net profit of Rs 11 crores, v/s a loss of Rs 62.5 crores. Revenue at the company was up 44% at Rs 758 cr. The shares of Bombay Dyeing were up 1.07 percent at Rs 292.10 ( at 12.35 hrs).

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