Business Standard

Markets gain on robust Q3 earnings

Reliance Industries surge after upbaet Q3 results

Read more on:    Nifty | Sensex | Us | Nse | Bse | Fiscal Cliff
Related News

Indian shares traded firm in morning session this Monday on hopes of growth recovery in Asia's third-biggest economy after better-than-expected results reported by key companies so far in the ongoing earnings season.

Of the 166 that have declared results so far, almost 80 per cent of the firms have reported growth in profits, with six reporting turnaround. Infosys, HCL Tech, Reliance Industries, YES Bank and Bajaj Auto among key ones.

At 10:05AM, the Bombay Stock Exchange's 30-share index Sensex gained 76  points and traded at 20,116.04 while the National Stock Exchange's 50-share rose 15 points  at 6,079.40.

Reliance Industries Ltd,  owner of world's biggest refining complex in Gujarat, surged 4% after reporting its third straight quarterly net profit increase, at Rs 5,502 crore. Its gross refining margin-- at $9.6 per barrel--jumped 41 per cent as compared to the third quarter of financial year 2012.

In the results calendar, Asian Paints, HDFC, NTPC and SpiceJet will declare their third quarter performances later today.
Globally, Asian shares edged lower on Monday, ahead of the outcome of the Bank of Japan policy meeting this week amid expectations for bold monetary easing measures.

Hong Kong's Hang Seng rose 0.11% to 23,627, Taiwan's Weighted index fell 0.2% to 7,718,  Singapore's Straits Times was up 0.3% to 3,221  while China's Shanghai Composite added 0.4% to 2,327 and Japan's Nikkei dropped 0.85% to 10,820.

Back home, oil &gas, auto, power, capital goods, metals, PSU indexes  gained while consumer durables, FMCG, bank indexes dropped on .

Among key Sensex stocks,  HUL and ITC dropped 1.3% and 0.2%, HDFC Bank fell 0.6%, TCS dropped 0.7%, Bajaj Auto declined 0.5% while Mahindra & Mahindra was down 0.2% on BSE.

Among gainers,  ONGC, BHEL and GAIL up 0.6%, 2% and 1% respectively, Reliance Industries gained 4%, Wipro rose 1%, Sterlite Industries and Jindal Steel gained 0.8% and 0.6% , among autos, Maruti Suzuki gained 1.3%  while Hero MotoCorp rose 0.6%, L&T was up 0.5% on BSE.

The other notable stock movers include, Kolte-Patil Developers that has soared 8% to Rs 136, its highest level since February 2008, after reporting almost five-fold jump in consolidated net profit at Rs 38.86 crore for the quarter ended December 31, 2012 (Q3) on back of higher sales income.

UltraTech Cement, country's third-biggest cement maker, fell 1% as its third quarter net profit dipped marginally to Rs 601 crore from Rs 617 crore in the same quarter last year on higher raw material and logistics costs.

Oberoi Realty is trading higher by 2.3% at Rs 324 after reporting a 32% year-on-year growth in consolidated net profit to Rs 134 crore for the quarter ended December 31, 2012 on back of higher sales.

Oil marketing companies extend gains after the government's decision to allow higher diesel prices: Hindustan Petroleum Corp Ltd is up 2.14 percent, Indian Oil Corp rises 2 percent, while Bharat Petroleum Corp Ltd gains 2.8 percent higher.

State Bank of India, country's biggest lender, gained 0.7% after its (SBI) board  approved a capital infusion of Rs 3,004 crore by the government through preferential allotment of shares.

The broader markets traded positive  with mid-caps  and small-caps  up by 0.4% on BSE.

The market breadth was positive. Out of 1,763 stocks traded, 1,061  stocks advanced compared to 615 declines on BSE.

Read more on:   
|
|
|
|
|

Read More

Markets post best gains in 3-months on Fed optimism

The market breadth was firm. Out of 2,933 stocks traded , 1,685 stocks advanced compared to 1,136 declined on BSE

Quick Links

 

Market News

NSEL payments: HC orders creation of three-member monitoring panel

The three-member panel will negotiate with borrowers, FTIL and EOW on liquidation of borrowers' assets

Plea against MF body as self-regulator admitted

The Securities Appellate Tribunal (SAT) has admitted an appeal against a decision on approval given for setting up a regulatory organisation for ...

El Niño worries inflation managers

RBI has decided to consider inflation based on new series CPI in which half of the weight is for food, beverages and tobacco

Coffee at 26-month high as Brazil drought raises price volatility

Coffee futures jumped as much as 8.3 per cent, driving volatility to the highest since 2000

JSW Steel mulls using Goan ore for Dolvi plant

The company plans to participate in e-auctions at Goa as and when the ore with 58% Fe is auctioned

Back to Top