Barometers witness volatility; Trent jumps 6%

Key benchmark indices witnessed a bout of volatility in morning trade. Profit booking emerged after gains in past four trading sessions. The Nifty hovered around the 12,100 level. At 10:23 IST, the barometer index, the S&P BSE Sensex, was down 36.02 points or 0.09% at 41,270.01. The Nifty 50 index was down 28.35 points or 0.23% at 12,109.60.

The broader market traded higher. The S&P BSE Mid-Cap index was up 0.29% while the S&P BSE Small-Cap index was up 0.55%.

The market breadth was positive. On the BSE, 984 shares rose and 679 shares fell. A total of 90 shares were unchanged. In Nifty 50 index, 26 stocks advanced while 24 stocks declined.

Q3 Earnings:

Among Nifty companies, Britannia Industries (up 0.32%), NTPC (up 2.28%), UPL (up 2.11%) and Tata Steel (down 0.29%) will announce their Q3 December 2019 result today.

Whirlpool of India (up 0.11%), Voltas (down 0.45%), ACC (up 0.89%), NHPC (up 0.21%), Alkem Laboratories (up 0.19%), NCC (up 0.19%), Oberoi Realty (down 1.13%), Nesco (up 1.8%), Abbott India (up 1.23%), Varun Beverages (up 4.73%), Venky's (down 0.41%), Symphony (up 0.34%), India Cements (up 1.41%), Madras Fertilizers (up 0.54%), Containter Corporation of India (down 1.05%), Mahanagar Gas (up 0.44%), Procter & Gamble Health (down 0.43%), Repco Home Finance (up 0.83%), Max Ventures Industries (up 3.59%), CARE Ratings (down 1.09%) and SML Isuzu (up 0.49%) are some of the companies that will announce their Q3 December 2019 result today.

Q3 Results:

Shares of Trent were trading 6.51% higher at Rs 632.70. The company reported a 21.5% jump in consolidated net profit to Rs 53.87 crore in Q3 December 2019 as against Rs 44.33 crore reported in Q3 December 2018. On a consolidated basis, company's net sales jumped 45.3% to Rs 988.29 crore in Q3 December 2019 as compared to Rs 680.3 crore reported in Q3 December 2018.

Sun Pharmaceutical Industries were trading 1.03% higher at Rs 435.40. The drug major's consolidated net profit fell 26.44% to Rs 913.52 crore in Q3 December 2019 compared with net profit of Rs 1,241.85 crore in Q3 December 2018. Total revenue from operations for the December quarter stood at Rs 8,154.85 crore, up 5.36% from Rs 7,740.19 crore in Q3 December 2018.

Shares of GlaxoSmithKline Consumer Healthcare were trading 0.35% higher at Rs 9247.50. On a standalone basis, company's net profit rose 25.1% to Rs 276.63 crore in Q3 December 2019 as compared to Q3 December 2018. Net sales rose 3.8% YoY to Rs 1158.86 crore in Q3 December 2019.

NMDC was down 3.1% at Rs 112.7 after the PSU mining company reported disappointing Q3 December 2019 result. On a consolidated basis, NMDC's net profit declined 11.2% to Rs 1394.40 crore in Q3 December 2019 as against Rs 1569.77 crore reported in Q3 December 2018. Net sales fell 17.6% YoY to Rs 3006.38 crore in Q3 December 2019.

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