Get App
POST MARKET REPORT
Indian benchmark indices end higher in volatile trading today amid buying across the sectors.
At close, the Sensex was up 689.76 points or 0.98 percent at 71,060, and the Nifty was up 215.15 points or 1.01 percent at 21,454.
Top gainers on the Nifty were Hindalco Industries, Dr Reddy’s Laboratories, Tata Steel, Power Grid Corporation, and HCL Technologies, while losers included ICICI Bank, Axis Bank, Asian Paints, Adani Ports and HDFC Life.
Among sectors, auto, Information Technology, capital goods, FMCG, metal, oil & gas and power up 1-2 percent.
BSE Midcap and Smallcap indices added nearly 2 percent each.
The Indian Rupee stands at 83.13 per US dollar
STOCKS TODAY
Mahanagar Gas: Mahanagar Gas reported a consolidated net profit of Rs 317.18 crore in the December 2023 quarter, which is 84 percent higher YoY. Shares of Mahanagar Gas gained today after the company’s quarterly earnings came in higher than estimates.
REC: Shares of REC gained today after the state-owned firm reported a 13.6 percent increase in net profit for Q3FY24.REC reported a net profit of Rs 3,269.3 crore for Q3FY24, around 13.6 percent higher than Rs 2,878 crore in the previous fiscal. Net interest income (NII) for the reporting period was around Rs 4,159 crore, 18 percent higher than the previous fiscal.
Sharda Cropchem Limited: The company reported a 95.8 percent decline in net profit at Rs 4.64 crore in the October-December quarter, as against Rs 108.4 crore last year. The company’s revenue from operations slumped 38 percent to Rs 632.4 crore from Rs 1,017.3 crore in the corresponding period. After the results, shares of the company were down by 5 percent on the NSE.
Sona BLW Precision Forgings: The company traded 3.4 percent higher today after it reported a 24 percent year-on-year (YoY) rise in net profit at Rs 113.6 crore for the third quarter. In the corresponding period of the preceding fiscal, the company recorded a substantial increase in revenue from operations, surging by 15.8 percent to reach Rs 781.80 crore, compared to Rs 675.30 crore.
United Spirits: The shares traded 3.4 percent higher today after the company reported a 63 percent year-on-year (YoY) rise in net profit to Rs Rs 350.2 crore for the October-December quarter. In the quarter, the company’s other income also increased to Rs 51.2 crore, up from Rs 21.3 crore during the same quarter last year.
Karnataka Bank: Karnataka Bank reported a 10.1 percent year-on-year growth in net profit to Rs 331.08 crore for the quarter ended December 2023 on the back of a fall in provisions for bad loans and an increase in other incomes. The company reported a decline in asset quality with the gross NPA up 17 basis points QoQ to 3.64 percent and the net NPA was up 19 basis points QoQ to 1.55 percent in Q3FY24.