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Major equity indices swung wildly on weekly expiry day and ended higher helped by gains in banks, energy and metal stocks. The Sensex and the broader index Nifty 50 rose 0.51%, each.
Broader markets outperformed headline indices. The Nifty Midcap 100 index jumped 1.38% and the BSE Smallcap was up 0.9%.
Top gainers among Nifty sectoral indices were PSU Bank [1.63%], Media [1.19%], Private Bank [1.17%], Oil & Gas [0.98%] and Metal [0.86%]. Pharma index was the only index that fell 0.47%.
Indian rupee rose 5 paise to 79.94 against the US dollar on Thursday.
Stock in News Today
Adani Group: The company has approached the country’s largest lender State Bank of India (SBI) for a loan worth Rs 14,000 crore to build a new plant in Mundra in Gujarat, according to a news report by Livemint. The new facility is being planned to manufacture polyvinyl chloride (PVC) from coal and the total cost of setting up the project is expected to be around Rs 19,000 crore.
PVR Ltd: The he multiplex operator reported a profit of Rs 68 crore in Q1FY23 as against a loss of Rs 142 crore in the corresponding quarter of last fiscal. The firm reported a 1,308% rise in revenue at Rs 1,000 crore in the June quarter as against Rs 71 crore revenue in the corresponding period of the previous fiscal. The company reiterated that it is on track to open 125 screens in the current fiscal.
Hindustan Zinc: The company reported a consolidated net profit of Rs 3,092 crore in Q1FY23, up 56% from Rs 1,983 crore in the year-ago period. Its revenue was up 45% to Rs 9,387 crore in the reported quarter from Rs 6,531 crore in the corresponding quarter last fiscal. The company’s EBITDA rose 48% YoY to Rs 5,137 crore in Q1FY23.
PNC Infratech: The company has inked a pact with National Highways Authority of India for two hybrid annuity model (HAM) projects.The project pertains to building four-lane road from Mathura Bypass to Gaju Village and a four-lane road from Gaju Villay to Devinagar bypass in Uttar Pradesh. The total bid project cost is Rs 1,623 crore and is expected to be to completed in 24 months. It will be operated for 15 years, post construction.
Kajaria Ceramics: The company’s consolidated net profit jumped 96% to Rs 92.30 crore in Q1FY23 as against Rs 43.06 crore in the year-ago period.The company’s revenue clumbed 80% to Rs 1008.22 crore in Q1FY23 from Rs 561.66 crore. The company announced that it will buy 51% stake in South Asian Ceramic for Rs 28.5 crore.
Sasken Technologies: The company’s consolidated net profit declined by more than 50% to Rs 15.23 crore in Q1FY23 from Rs 34 crore in the year-ago period. Its revenue stood at Rs 101.32 crore in the reported quarter as against Rs 109.80 crore in the same period last fiscal.
Mastek: The IT company reported a 4.4% YoY decline in consolidated net profit to Rs 84.4 in Q1FY23 on. Its revenue from operations fell 1.9% YoY to Rs 570.3 crore in Q1FY23. Total EBITDA stood at Rs 135 crore in Q1FY23, up 14.9% YoY.