Post Market Report: Major stock indices end with major gains; Gland Pharma, Motherson Sumi and Bandhan Bank in news

Benchmark equity indices ended higher, helped by gains in cement & construction and IT stocks. The Sensex rose 1.31% and the Nifty gained 1.27%.

 The Nifty Midcap 100 index gain by 1.24% and the BSE Smallcap gained 0.45%.

Top gainers among Nifty sectoral indices were Auto [1.45%], Energy [0.68%] and Oil &Gas [1.35%], IT [1.45]. 

The Indian rupee edged up 3 paise to end at 82.78 against the US dollar on Monday.

Stock in News Today

Saregama: India’s Music label Saregama India has posted 36 percent jump in its Q2 net profit at Rs 46 crore versus Rs 34 crore and revenue was up 30.5% at Rs 189.2 crore versus Rs 145 crore, YoY.

Motherson Sumi Wiring India: The company has posted 12.8 percent fall in its Q2FY23 net profit at Rs 116.4 crore versus Rs 133.5 crore against and revenue was up 31.1% at Rs 1,835.2 crore versus Rs 1,400 crore, YoY.

Gujarat Heavy Chemicals: The company has reported Q2 net profit at Rs 300.5 crore versus Rs 93.2 crore and revenue was up 72% at Rs 1,381 crore versus Rs 803 crore, YoY.

Bandhan Bank: Shares of private sector lender fell as much as 11.1% after reported a net profit of Rs 209 crore for the September quarter as against a Rs 3,009 crore loss in the year-ago period, owing to a sharp fall in provisions and a rise in net interest income.

Gland Pharma: Shares of pharma giant fell as much as 24% in the last three trading sessions after the company reported a fall of 20.14% in consolidated net profit to Rs 241.24 crore due to lower sales and higher expenses. In the second quarter of FY22, the profit after tax (PAT) was Rs 302.08 crore.