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POST-MARKET REPORT
The Indian equity market ended higher with Nifty above 21,700 led by banking stocks.
At close, the Sensex was up 482.70 points or 0.68 percent at 71,555.19, and the Nifty was up 127.30 points or 0.59 percent at 21,743.30.
Hindalco Industries, Grasim Industries, BPCL, Divis Laboratories, and UltraTech Cement were among the top losers on the Nifty, while gainers included Coal India, UPL, Axis Bank, SBI Life Insurance, and ICICI Bank.
Among sectors, except metal (down 2 percent), all other indices ended in the green with bank, healthcare, Information technology, and capital goods up 0.4-1.5 percent.
The BSE midcap index added 0.6 percent and the smallcap index rose 0.2 percent.
STOCKS TODAY
Bharat Forge: Shares of Bharat Forge fell 3.44 percent, extending their slide for the second session after the management said that it expected growth to moderate in the coming quarter and the financial year 2024-25.
GR Infraprojects: Shares of GR Infraprojects fell 1.92 percent after the company reported a 25 percent on-year slump in Q3 profit on weak operating numbers and topline. The company reported a consolidated net profit of Rs 242.9 crore for the December quarter of FY24.
Hindalco: The Hindalco stock fell 12.53 percent after its US-based subsidiary Novelis revised the return guidance for the Bay Minette project. Novelis said the Bay Minette project would see a 65 percent increase in the capital cost and a one-year delay. Novelis has revised the project cost to $4.1 billion and expects it to be commissioned by the end of CY2026 or 2HFY27.
Hindustan Aeronautics: Shares of Hindustan Aeronautics gained 2.43 percent after the company’s third-quarter standalone net profit rose 8.6 percent on-year to Rs 1,253 crore. Revenue climbed 7 percent YoY to Rs 6,061 crore.
Lemon Tree Hotels: Lemon Tree Hotels stock slipped 2.35 percent despite the company signing a license agreement for a hotel in Telangana under the company’s Lemon Tree Resort brand. The hotel will get operational in FY27.
Krsnaa Diagnostics: Shares of Krsnaa Diagnostics slumped 4 percent intraday after the company’s net profit fell 4.4 percent on-year to Rs 13 crore because of expenses incurred in the implementation of two projects. The stock, however, recovered to close 0.69 percent higher.