After trading in a range throughout the session, Indian share markets gained during closing hours and ended marginally higher.

Benchmark indices erased losses as the session progressed and rose for the fifth consecutive day.

At the closing bell, the BSE Sensex stood higher by 170 points (up 0.3%).

Meanwhile, the NSE Nifty closed higher by 44 points (up 0.2%).

Power Grid and IndusInd Bank were among the top gainers today.

NTPC and Bajaj Finserv on the other hand, were among the top losers today.

The SGX Nifty was trading at 17,829, up by 33 points, at the time of writing.

The BSE Midcap index ended lower by 0.7% and the BSE SmallCap index ended down by 0.4%.

Sectoral indices ended on a mixed note with stocks in the capital goods sector and realty sector witnessing most of the buying.

While consumer durable stocks and metal stocks witnessed selling.

Shares of Nestle and Siemens hit their 52-week highs today.

Now track the biggest movers of the stock market using the stocks to watch today section. This should help you keep updated with the latest developments...

Asian share markets ended the day on a mixed note. The Hang Seng rose 0.7%, while the Shanghai Composite index ended 0.8% lower. The Nikkei slipped 0.7%.

The rupee is trading at 81.72 against the US$.

Gold prices for the latest contract on MCX are trading lower by Rs 81 at Rs 60,180 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading up by 0.2% at Rs 74,424 per kg.
 

KPIT Technologies declares dividend

KPIT Technologies share price surged nearly 7% today and was trading near its 52-week high levels after the company approved a final dividend of Rs 2.65 per share.

The dividend, if declared by the members at the AGM will be paid within the statutory timeline as per the Companies Act, 2013.

The record date for the purpose of payment of the final dividend will be determined later and will be communicated to the stock exchanges separately.

The company also announced its Q4 results today. The IT company's net profit rose 11.2% sequentially to Rs 1,116 million (m) versus Rs 1,004 m in Q3.

The revenue for the quarter ended March was up 11% quarter-on-quarter to Rs 10,200 m from Rs 9,190 m in the last quarter.

Good quarterly results might finally be a breath of fresh air for investors. As of late, KPIT Technologies' share price was falling.

Mahindra CIE Automotive Q4 results

Mahindra CIE Automotive jumped 10% today after the firm reported a nearly 73% surge in fourth-quarter profit, boosted by strong domestic and European demand.

The company's consolidated profit stood at Rs 2.8 bn in the quarter ended March 2023, up 73% from Rs 1.6 bn a year ago.

The auto ancillary company's revenue from the India segment rose 13.3% to Rs 14.7 bn. The European business outperformed the Indian business by 5.8%. Europe revenue was at Rs 15.5 bn for the quarter, constituting nearly 51.4% of total revenue.

The firm reported revenue of Rs 24.4 bn in the fourth quarter, up 18.4% from Rs 20.6 bn in the December quarter of financial year 2023. Its total expenses jumped 16.7% to Rs 21.7 in Q4 of financial year 2023.

In the last year, the Mahindra CIE stock has surged 71%. It has gained 380% over the past three years.

Mahindra & Mahindra, the second biggest stakeholder in the Mahindra CIE, sold over a 6% stake in Mahindra CIE Automotive last month, bringing its stake in the company to 3.2% from 9.3%.

Mahindra CIE Automotive Limited designs, manufactures, installs, and repairs automotive components. The company manufactures automotive components including engine and steering components as well as various other forged metal products.
 

Patel Engineering's JV arm bags new order

Patel Engineering's joint venture has received letter of awards (LOAs) for Krishna Marathwada Irrigation Project.

The orders were received for Lift Irrigation Scheme 01 & Krishna Marathwada Irrigation Project - Lift Irrigation Scheme 02 respectively from the water resources department, government of Maharashtra, where the Joint Ventures were declared lowest bidders.

The company is a 51% partner in JV for Scheme 01 Project and a 60% partner in a JV in Scheme 02 Project, its aggregate share for these two projects is Rs 4.5 bn.

The total value of these erection, procurement, and construction (EPC) turnkey basis contracts is Rs. 8.5 bn which has to be executed in 36 months.

It will be involved in the investigation, design, construction, testing, and commissioning of works comprising civil & allied works under lift irrigation schemes.

Last month, the company won another project. It received a letter of acceptance for Tumkur Branch Canal (Package V) Micro Irrigation Project from Visvesvaraya Jala Nigama (VJNL).

It is a 51% partner in the JV and has a share of Rs 2.8 bn in the project.

Patel Engineering is a 73-years old company established in the year 1949, specializing in the hydropower generation and irrigation segments.

The company is engaged in the construction of dams, bridges, tunnels, roads, piling works, industrial structures, and other kinds of heavy civil engineering works.

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