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Benchmark stock indices closed higher, after swinging between gains and losses through the session, helped by gains in RIL, metal, financial and pharma stocks. The Sensex closed 0.33% higher at 57808.58 and Nifty rose 0.31% to 17266.75.
Top gainers were Nifty PSU Bank [0.82%], Metal [0.80%], Pharma [0.47%]. Top losers were Energy [-1.31%] and IT [-0.29%].
Broader indices closed in red. Nifty Midcap 100 was down 0.70% and BSE Smallcap plunged 1.4%.
Indian rupee slipped 5 paise to 74.75 against the US dollar.
Stock in News Today
Adani Wilmar Ltd: The company’s shares debuted on a weaker note in early trade but quickly recovered to close at Rs 268.25 apiece. The stock opened lower at Rs 227 on the NSE against the issue price of Rs 230, but rallied and hit a high of Rs 271.25 per share.
Biocon Ltd: The company’s subsidiary Biocon Pharma received approval for its ANDA for Posoconazole delayed-release tablets from the US FDA. The tablets are indicated for use in prevention of fungal infections in patients with weakened immune systems.
Wipro: The IT major has joined Intel ‘Foundry Services Accelerator – Design Services Alliance’ to support complex System on Chip (SoC) and application-specific integrated circuit (ASIC) designs and power up products from smartphones to sports cars. The alliance is formed to spur customer innovation in chip design and manufacturing.
Escorts: The company’s standalone net profit was down 28% YoY to Rs 201.52 crore in Q3FY22. Revenue fell 2.97% YoY at Rs 1,957.49 crore in the reported quarter. The company expects favourable macroeconomic factors in agriculture to boost rural demand.
Go Fashion (India): The company posted a 33 per cent increase in PAT (profit after tax) to Rs 23.7 crore in Q3FY22 as compared to Rs 17.8 crore in Q3 of FY21. Total revenue of the company jumped by 47 per cent to Rs 142 crore in the third quarter of FY22 from Rs 96.9 crore in the same period last year.
Sansera Engineering: Shares of the company fell after the company’s consolidated net profit was down by more than 50% to Rs 23.9 crore in Q3FY22. This was due to its weak operational performance. The auto component company had posted profit of Rs 50.6 crore in the year-ago quarter.
Wockhardt Ltd: The company has . received permission from the Central Drugs Standard Control Organisation (CDSCO) to export up to 80 million doses of Sputnik Light and up to 20 million doses of Sputnik V Component 1 vaccine. CDSCO inspected and approved Wockhardt’s bulk vaccine and fill-finish manufacturing facilities at Aurangabad.
Dilip Buildcon: The company’s subsidiary Bangarupalem Gudipala Highways Pvt Ltd. has executed a concession agreement with National Highways Authority of India. The scope of the agreement is construction of 4-lane Bangalore-Chennai Expressway from Bangarupalem to Gudipala in the Andhra Pradesh under Bharatmala. The bid project cost was Rs 1,060 crore. The project is to be completed in 24 months and the operation period is 15 years from Commercial Operation Date.
HeidelbergCement India: The company’s net profit fell 52% YoY to Rs 30.44 crore. Revenue from operations was down 8.52% YoY at Rs 544.52 crore. Ebitda dropped 43% YoY to Rs 68.4 crore.
Granules India: The company’s net profit was down 31% YoY to Rs 100.88 crore. Revenue from operations was up 18% YoY at to Rs 996.77 crore. Ebitda fell 18% YoY to Rs 174 crore in the reported quarter.
The company’s board has announced a third interim dividend of 25 paise per share of face value of Re. 1/- each representing 25% of paid-up capital for FY22. It has fixed the record date as February 18 for the purpose of payment of the dividend.
NCC: The company’s net profit rose 7.33% to Rs 76.42 crore in the quarter ended December 2021 as against Rs 71.20 crore during the year-ago quarter. Sales rose 41.75% to Rs 3014.94 crore in the quarter ended December 2021 as against Rs 2126.90 crore in the corresponding quarter a year ago.