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Domestic equity indices closed lower for fourth straight day due to global headwinds. All sectors, except selective FMCG stocks, fell into the negative territory. The Sensex closed 0.72% lower to 59037.18 and Nifty fell 0.79% to 17617.15.
Top losers were Nifty Media [-3.47%], PSU Bank [-3.05%], Metal [-1.91%], IT [-1.66%] and Infrastructure [-1.64%]. Nifty FMCG gained 0.36%
Indian rupee rose 9 paise to 74.42 against the US dollar.
Stock in News Today
HDFC Life Insurance: The company reported a 3 per cent increase in net profit to Rs 273.65 crore for the third quarter ended December as against a profit stood at Rs 264.99 crore in the same quarter of the previous fiscal. Total income declined to Rs 14,222.22 crore in the reported quarter from Rs 21,126.80 crore in October-December 2020.
SBI Life Insurance: The company reported a 56 per cent rise in net profit at Rs 364 crore for the third quarter ended December, compared with a profit of Rs 233 crore in the same quarter of the previous fiscal. Total income declined to Rs 20,458.31 crore in the quarter under review from Rs 26,551.90 crore in October-December 2020 period.
JSW Steel: The company reported a 69% jump in consolidated net profit at Rs 4,516 crore for the quarter ending December 31, 2021 from a net profit of Rs 2,669 crore in the year-ago period. Consolidated total income climbed 74% to Rs 38,225 crore in Q3FY22 from Rs 22,006 crore in the year-ago period.
Hindustan Zinc Ltd: The company reported a 22.7 per cent jump in consolidated net profit to Rs 2,701 crore for the quarter ended December 31, 2021. The company had reported a consolidated net profit of Rs 2,200 crore in the year-ago period. Its consolidated income during the period increased to Rs 8,269 crore, compared with Rs 6,483 crore in the year-ago period.
IDBI Bank: The lender’s net profit rose 55.75% to Rs 612.34 crore in the quarter ended December 2021 as against Rs 393.15 crore during the year-ago period. Total Operating Income rose 1.16% to Rs 4629.69 crore in the reported quarter as against Rs 4576.81 crore during the same quarter of FY21.
Jyothy Labs: The company’s consolidated net profit declined 30.48% to Rs 38.43 crore in the quarter ended December 2021 as against Rs 55.28 crore during the same quarter previous year. Revenue rose 13.09% to Rs 539.03 crore in the reported quarter from Rs 476.62 crore in the year-ago period.
Polycab India: The company’s standalone net profit rose 38.45% to Rs 338.01 crore in Q3FY22 as against Rs 244.13 crore in the year-ago period. Sales rose 21.63% to Rs 3341.45 crore in the quarter ended December 2021 as against Rs 2747.24 crore during the corresponding quarter last year.
PVR Ltd: The theatre chain operator reported a consolidated revenue of Rs 614.15 crore in Q3FY22, as against Rs 120.32 crore in Q2FY22. Net loss narrowed to Rs 10.18 crore in the reported quarter from Rs 153.13 crore in the previous quarter.
RattanIndia Power Ltd: The company’s consolidated net loss widened to Rs 386.69 crore in the Oct-Dec quarter of FY22, compared to a consolidated net loss of Rs 69.09 crore in the year-ago period, due non-operation of Nashik thermal power plant. Total consolidated income of the company rose to Rs 857.15 crore in the quarter under review, from Rs 742.04 crore in the same period a year ago.
Heritage Foods: The company’s consolidated net profit declined 20.99% to Rs 20.82 crore in the Oct-Dec quarter of FY22 from Rs 26.35 crore in the year-ago period. Revenue rose 10.27% to Rs 667.03 crore in the reported quarter from Rs 604.92 crore in the same period last year.
Supriya Lifescience: The company’s standalone net profit rose 152.65% to Rs 39.64 crore in the Q3FY22 as against Rs 15.69 crore during the year-ago quarter. Sales rose 45% to Rs 117 crore in the quarter under review as against Rs 80.69 crore during the year-ago quarter.