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POST-MARKET REPORT
The Indian equity benchmarks failed to hold on to the opening gains and ended lower in a volatile session today, as investors awaited the RBI meet outcome for rate cute cues and inflation trajectory.
At close, Sensex ended 354.21 points or 0.49 percent down at 71,731.42, and the Nifty ended down by 82.10 points or 0.38 percent at 21,771.70.
Top losers on the Nifty included UPL, Bharti Airtel, Bajaj Finance, HDFC Life, and Grasim Industries, while gainers were Tata Motors, Coal India, BPCL, Sun Pharma, and Cipla.
Among the sectoral indices, banks, capital goods, information technology, and FMCG were down 0.3-0.9 percent, while auto, pharma, metal, oil & gas, and realty were up 1 percent each.
BSE midcap and smallcap indices ended on a flat note.
STOCKS TODAY
Indigo: Shares of Indigo operator Interglobe Aviation soared over 5 percent intraday and hit a record high after the company’s strong Q3 numbers. The company’s profit more than doubled to Rs 2998 crore in the quarter. The stock pared some gains to close 1.4 percent in the green.
LIC: Life Insurance Corporation of India gained 5 percent after Tuhin Kanta Pandey, secretary in the Department of Investment and Public Asset Management said the digital transformation of the insurer would spur it into a smart organisation. The stock hit the Rs 1,000 mark in the trading session
Tata Motors: Shares of Tata Motors went up 5.8 percent after the company’s Q3 results beat the Street estimates. Tata Motors’ profit went up by 137.5 percent on-year to Rs 7,025 crore against estimates of Rs 4,547 crore in the quarter.
Cochin Shipyard: Shares of Cochin Shipyard ended 1.24 percent down despite the company signing a contract with the Indian Navy to dry-dock, refit, and upgrade equipment on two naval ships.
Titagarh Rail Systems: Shares of Titagarh Rail Systems fell 1.93 percent even after the company announced a 130 percent on-year surge in net profit to Rs 74.8 crore in Q3. Revenue increased 24.6 percent year-on-year to Rs 954.7 crore in Q3FY24.
Aurobindo Pharma: Shares of Aurobindo Pharma plunged 4.23 percent after the company paused manufacturing at one of its units after the United States Food and Drug Administration (USFDA) issued nine observations for its subsidiary.
KPI Green Energy: KPI Green Energy zoomed 5 percent and hit the upper circuit after the company received a 15 MW order for a solar power project from Aether Industries.