 "SI Reporter")
SI Reporter
SI Reporter
The Business Standard's Smart Investor (SI) reports focus on in-depth analysis and timely news concerning strategic investment trends, business deals, and financial manoeuvres within the corporate world.
The Business Standard's Smart Investor (SI) reports focus on in-depth analysis and timely news concerning strategic investment trends, business deals, and financial manoeuvres within the corporate world.
Page 513 - Si Reporter
ITC, RIL, ICICI Bank help lift Sensex 600 pts higher, Nifty above 17,900
CLOSING BELL: Sensex and Nifty indices snapped their 2-day losing run, ralling on Tuesday as supportive global cues, ease in WPI inflation, and healthy buying in heavyweights lifted sentiment.
 "ITC, RIL, ICICI Bank help lift Sensex 600 pts higher, Nifty above 17,900")
Adani Enterprises bounces 17% from day's low on massive jump in Q3 profit
For Q3FY23, Adani Enterprises' consolidated profit after tax (PAT) came in at Rs 820 crore as against a loss of Rs 12 crore in the same quarter last fiscal (Q3FY22)
 "Adani Enterprises bounces 17% from day's low on massive jump in Q3 profit")
Stock of this smallcap company has zoomed over 50% in four trading days
Shares of WPIL were locked in the 10 per cent upper circuit on the BSE at 01:09 PM. The stock also hit a new high of Rs 1,791.65
 "Stock of this smallcap company has zoomed over 50% in four trading days")
ITC gains 3% a day ahead of turning ex-dividend; stock nears record high
With a modest 1 per cent increase in duty on cigarettes and improving outlook for FMCG and Hotels, brokerages think ITC is well positioned for a strong FY24.
 "ITC gains 3% a day ahead of turning ex-dividend; stock nears record high")
Zee Entertainment dips 4%, nears 52-week low on weak Q3 results
The company said advertisement revenue YoY growth impacted due to FTA withdrawal (Zee Anmol) and slowdown in FMCG spends due to challenging macro-economic environment.
 "Zee Entertainment dips 4%, nears 52-week low on weak Q3 results")
Sensex slips 251 pts ahead of inflation data; SBI, IT shares fall
CLOSING BELL: The NSE Nifty 50 ended 86 points lower; Broader indices log deeper cuts. Adani Group shares fall again.
 "Sensex slips 251 pts ahead of inflation data; SBI, IT shares fall")
Brokerages downgrade Lupin post weak Q3; see up to 17% downside
Lupin shares fell 7.5 per cent to Rs 681 apiece on the BSE in the intra-day trade
 "Brokerages downgrade Lupin post weak Q3; see up to 17% downside")
Natco Pharma jumps 4% on filing generic version of oncology drug in US
The drug major filed an abbreviated new drug application (ANDA) for generic versions of Olaparib tablets - 100 mg and 150 mg with the US Food and Drug Administration (USFDA)
 "Natco Pharma jumps 4% on filing generic version of oncology drug in US")
Info Edge slumps 10% on Rs 116 cr Q3 loss; writes-off invst in 4B Network
The losses in the recent quarter mainly accrued as the company wrote off its investment in property tech start-up 4B Networks. It had invested Rs 276 crore in the start-up as of September 2022
 "Info Edge slumps 10% on Rs 116 cr Q3 loss; writes-off invst in 4B Network")
City Union Bank shares crash 13.5% after Q3 earnings dip on quarterly basis
According to analysts, CUB's results had several areas of weakness this quarter
 "City Union Bank shares crash 13.5% after Q3 earnings dip on quarterly basis")
Balkrishna Industries tanks over 11% as Q3 profit plunges 68% YoY
Its revenue from operations increased marginally by around 6 per cent to Rs 2,165.57 crore in Q3
 "Balkrishna Industries tanks over 11% as Q3 profit plunges 68% YoY")
Coforge slides 7% as over 7 million equity shares change hands on bourses
According to reports, Barings Private Equity was looking to sell part of its 40 per cent stake in Coforge via block deals
 "Coforge slides 7% as over 7 million equity shares change hands on bourses")
Glenmark Pharma jumps 5% post December quarter earnings
The company reported a 21 per cent surge in Q3 consolidated net at Rs 291 crore.
 "Glenmark Pharma jumps 5% post December quarter earnings")
Sensex dips 124 pts, smallcaps shine; Paytm cracks 9%, Tata Motors up 2%
CLOSING BELL: HCL Tech (down 2.7 per cent), Tata Steel, Reliance Industries, Wipro, ITC, ICICI Bank, Infosys, and HUL were top Sensex losers
 "Sensex dips 124 pts, smallcaps shine; Paytm cracks 9%, Tata Motors up 2%")
MSCI cuts HCL Tech's weightage; stock trades as top loser on Sensex, Nifty
Shares of HCL Technologies slipped 3.3 per cent to Rs 1,108.55 on the BSE in Friday's intra-day trade on profit booking
 "MSCI cuts HCL Tech's weightage; stock trades as top loser on Sensex, Nifty")
HG Infra hits 52-week high, rallies 13% in two days post Q3 results
As of December 31, 2022, the company's strong order book stood at Rs 11,064 crore
 "HG Infra hits 52-week high, rallies 13% in two days post Q3 results")
Stock of this Murugappa Group company has zoomed over 100% in 9 months
CG Power hit a new high of Rs 327, surging 5 per cent in the intra-day trade, after MSCI decided to include the Murugappa Group company in India index
 "Stock of this Murugappa Group company has zoomed over 100% in 9 months")
Zomato dips 7% on profit booking as loss widens to Rs 347 crore in Q3
Global brokerage Jefferies believes outlook seems positive as break-even target stays, as early as Q4FY23 - another positive in the context of Zomato Gold
 "Zomato dips 7% on profit booking as loss widens to Rs 347 crore in Q3")
Paytm slips 9% intra-day as nearly 5% equity changes hands on NSE
Till 09:50 am; around 32.25 million equity shares, representing nearly 5 per cent of total equity of Paytm, had changed hands on the counter, data showed
 "Paytm slips 9% intra-day as nearly 5% equity changes hands on NSE")
Page Industries slips 4%, hits 52-week low on disappointing Q3 results
Ebitda margin contracted by 530 bps year-on-year, and 320 bps quarter-on-quarter to 15.8 per cent, primarily due to lower absorption, advertising and manpower costs
 "Page Industries slips 4%, hits 52-week low on disappointing Q3 results")