Get App
Benchmark stock indices ended higher on late buying. on sectoral front, information technology, auto and realty were up a percent each. The Sensex rose 0.40% and the Nifty 50 index was up 0.48%.
Broader markets outperformed Nifty Midcap 100 index up 0.62% and the BSE Smallcap up by 0.36%.
Top gainers were IT [0.73%], Automobile [0.87%], Realty [1.1%], and Telecom [1.26%]. Top losers were Aviation [-0.94%], Manufacturing [-0.67%], Power [-0.5%], and Footwear [-0.33%].
Indian rupee up 5 paise to 82.80 against the US dollar on Wednesday.
Stock in News Today
Dollar Industries: The company registered an 82.5% year-on-year decline in consolidated profit at Rs 7.74 crore for the quarter that ended December FY23, impacted by subdued revenue and weak operating performance. Revenue for the quarter at Rs 285.3 crore fell by 25.2% compared to the year-ago period. At the operating level, EBITDA plunged 70% YoY to Rs 19.41 crore with the margin declining by 1,005 bps in Q3FY23.
Torrent Power: The Power company has recorded a whopping 86% year-on-year growth in consolidated profit at Rs 685 crore for the three-month period ended December FY23 as revenue grew by 71% YoY to Rs 6,443 crore during the quarter. On the operating front, EBITDA for the quarter at Rs 1,444 crore increased by 54.6% over a year-ago period, but the margin declined 239 bps in the same period. The company declared an interim dividend of Rs 22 per share including Rs 13 per share as a special dividend for FY23.
CAMS: The company gets the RBI nod as a specialized payment aggregator to the BFSI segment, the company has been offering personalized payment options to meet different use cases for mutual fund investors and insurance policyholders for over a decade.
LT Foods: The Competition Commission of India has approved the acquisition of certain equity shares of consumer food company LT Foods by SALIC International Investment Corporation based in Saudi Arabia. SALIC is an investment company with holdings in various international companies specializing in the fields of agriculture and trading of food commodities both in Saudi Arabia and internationally.
Zydus Lifesciences: The pharma company has received tentative approval from the United States Food and Drug Administration (USFDA) to market Bosentan Tablets for Oral Suspension, The drug will be manufactured at the group’s formulation manufacturing facility at SEZ, Ahmedabad.
PI Industries: The company reported a 58.04 percent increase in net profit at Rs 351.80 crore for the December quarter of FY23 from the year-ago period.PI Industries’ sales were up 18.94 percent at Rs 1,613.20 crore in the December quarter. It had reported sales of Rs 1,356.30 in the year-ago quarter.
HAL: Safran Helicopter Engines and Hindustan Aeronautics (HAL) has signed a workshare agreement for the joint development of the engine intended for the future 13-ton IMRH (Indian MultiRole Helicopter) and its naval version DBMRH (Deck Based Multi-Role Helicopter).