Markets Trade Flat, BPCL Rallies Post Dividend

Shares in Asia-Pacific were flat on Thursday as many investors reacted to the release of Chinese industrial profits data for April. Overnight the US markets ended the day on a positive note and Dow Futures are once again pointing to higher openings for the US markets on Thursday as well.

The Sensex was trading with losses of 5 points, while the Nifty was down 8 points in trade. Shares in Burger King fell 5% after the company declared its results. Burger King India on Wednesday reported a consolidated net loss of Rs 25.94 crore for the fourth quarter ended March 2021. It had posted a net loss of Rs 37.41 crore during the January-March 2020 quarter, the quick service restaurant chain said in a regulatory filing.

Shares in Bharat Petroleum were trading with gains after the company reported a good set of quarterly numbers. The shares were up 2 per cent in trade. BPCL declared a record dividend of Rs 58 per share. In the January-March quarter, net profit rose to Rs 11,940.13 crore from Rs 2,777.62 crore a year back.

Among the top Nifty gainers in trade apart from BPCL were Tata Motors, UPL, Tech Mahindra and TCS. Among the stocks that lost ground from the Nifty were Coal India, Bajaj Finserv, IndusInd Bank and Maruti.