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Indian benchmark equity indices ended lower, Nifty ends at around 18,100, Sensex falls 187 points dragged by power, FMCG and auto stocks. The Sensex is down 0.31% and the Nifty 50 index is down 0.32%.
Broader markets also closed lower. The BSE FMCG index down 0.83% and the BSE Consumer Durable was lost 0.80%.
Top gainers among Nifty sectoral indices were Electricals [2.12%], Manufacturing [1.26%], Aviation [1.21%], and Metal [1.18%]. The top losers were FMCG [-0.71%] and Chemicals [-1.03%]
Indian rupee was down 11 paise to 81.35 against the US dollar on Thursday.
Stock in News Today
Polycab India: The leading Cable company has posted 45 percent jump in its Q3 net profit at Rs 358 crore versus Rs 246.7 crore and revenue was up 10.2% at Rs 3,715.1 crore versus Rs 3,372 crore, YoY.
Havells India: The company’s Q3 Net profit was down 7.2% at Rs 284 crore against Rs 306 crore (YoY). Revenue was up 12.8% at Rs 4,120 crore against Rs 3,652 crore (YoY). EBITDA slipped 3.8% at Rs 424 crore against Rs 441 crore (YoY). EBITDA margin at 10.3% against 12.1% (YoY).
Happiest Mind Technologies: Q3 Net profit slipped 3.1% at Rs 57.6 crore against Rs 59.4 crore (QoQ). Revenue was up 3.2% at Rs 366.9 crore against Rs 355.5 crore (QoQ). EBIT slipped 1.6% at Rs 79.5 crore against Rs 80.8 crore (QoQ). Margin at 21.7% against 22.7% (QoQ).
Asian Paints: Q3 net profit was up 6.4% at Rs 1,097 crore versus Rs 1,031.3 crore, YoY. Revenue was up 1.7% at Rs 8,608 crore versus Rs 8,527 crore, YoY. Earnings before interest, tax, depreciation, and amortization (EBITDA) were up 7.1% at Rs 1,582.7 crore versus Rs 1,542.3 crore and EBITDA margin at 18.4% versus 18.1%, YoY.
ICICI Securities: Subsidiary of ICICI Bank has posted 26.6 percent fall in its Q3 net profit at Rs 279.1 crore versus Rs 380.2 crore and revenue was down 6.7% at Rs 878.8 crore versus Rs 941.6 crore, YoY.
Shemaroo Entertainment: The company has reported a 45.4% year-on-year decline in consolidated profit at Rs 1.03 crore for the quarter that ended December FY23. Consolidated revenue from operations surged 66.3% to Rs 149.56 crore compared to the year-ago period.
Maruti Suzuki: The car manufacturer announced that it has commenced exports of its highly successful premium SUV, Grand Vitara. The first shipment of Grand Vitara sailed to Latin America from the Kamarajar port recently. The company aims to export Grand Vitara to more than 60 countries across Latin America, Africa, the Middle East, ASEAN, and neighboring regions.
Kuantum Papers: Q3 Net profit at Rs 57.3 crore against Rs 4 crore (YoY). Revenue jumped 52.4% at Rs 350.6 crore against Rs 230 crore (YoY).
Gulshan Polyols: The company has received board approval for the acquisition of a 40% stake in JGN Sugar and Biofuels. With this, it would be an associate company of Gulshan. The acquisition is expected to be completed over a period of the next 3 months.