Benchmark indices extended losses for the straight second session on Friday. Sensex fell 236.66 points, or 0.39 per cent, to close at 60,621.77. Nifty50 settled the day at 18,027.65, falling 80.20 points or 0.44 per cent. BSE midcap and smallcap indices shed half a per cent each during the day.
Here’s a look at stocks that remained in news today.
Shares of Shyam Metalics and Energy rose nearly 5% today after ICICI Securities mentioned the stock as its top pick in the metal sector. The brokerage gave a target price of Rs 425 for the iron and steel stock, implying a 36% upside against the previous close of Rs 312.85 on BSE. Shyam Metalics stock touched an intraday high of Rs 327.95, rising 4.83% against the previous close of Rs 312.85 on BSE. Later, it closed 4.36% higher at Rs 326.50 on BSE.
Shares of Mukesh Ambani-led conglomerate Reliance Industries Ltd (RIL) ended over 1% lower ahead of the firm’s December quarter earnings set to be announced today. RIL stock has remained almost unchanged since earnings for the quarter ended September were announced on October 21, 2022. The stock closed at Rs 2471.95 in the same session. The stock ended 1.15% lower at Rs 2442 today against the previous close of Rs 2471.10 on BSE.
The stock closed 2.47% lower at Rs 740.95 on January 20. The firm reported a 85.50 percent year-on-year (YoY) fall in consolidated net profit to Rs 474 crore in Q3. The steelmaker reported a profit of Rs 4,516 crore in the same quarter of the previous financial year.
The stock closed lower at Rs 740.95 on January 20 ahead of Q3 earnings. The lender reported a 66.2% YoY fall in its December quarter profit at Rs 290.6 crore. Net interest income (NII) slipped 2.1% on-year to Rs 2,080.4 crore. The bank’s net NPAs in Q3 fell to 1.9% against 3.0% as on December 31, 2021.
Shares of HDFC Life ended 2.41% lower at Rs 590.55 today after the firm reported HDFC Life Insurance reported a 15% year-on-year (YoY) rise in net profit for the quarter ended December at Rs 315 crore.
Shares of LTIMindtree ended 0.66% higher at Rs 4272.20 on BSE ahead of the firm’s Q3 earnings set to be announced today.
Motilal Oswal said the combined LTI and Mindtree entity may report a slower-than-usual third quarter growth, as strong third quarter for LTI would be offset by furloughs in Mindtree. This brokerage expects 50-100 bps pass-through impact. Verticals such as manufacturing, retail and pharma are expected to see slow growth while BFSI is seen doing wel Net-net, Motilal Oswal sees 100-120 bps margin impact (QoQ on combined basis) due to furloughs.
: Hindustan Unilever shares ended 3.84% lower at Rs 2548 after the FMCG firm announced its Q3 results. HUL logged a 12 per cent year-on-year (YoY) rise in net profit at Rs 2,505 crore for the December quarter compared with Rs 2243 crore in the same quarter last year. HUL said on January 19 that its total sales for the quarter jumped 16 per cent YoY to Rs 14,986 crore. Volume growth for the quarter came in at 5 per cent.
The shares ended 4.30 per cent lower at Rs 1154.45 on Friday after the electrical appliance maker disappointed in the December 2022 quarter. The firm on Thursday reported a 7.3 per cent decline in consolidated net profit to Rs 283.52 crore for the third quarter ended December 31, 2022, on account of higher raw material costs. The company had posted a consolidated net profit of Rs 305.82 crore in the same quarter last fiscal.
Coforge shares rose 3.38 per cent to Rs 4100 after the IT firm announced its earnings for the quarter ended December 31, 2022. Net profit rose 24.2% to Rs 228.2 crore in the third quarter against Rs 183.7 crore in the Q3 of last fiscal. Better than expected earnings were led by multiple large outsourcing deals across sectors. Revenue was up 24% to Rs 2055.8 crore in Q3 against Rs 16,581 crore in December quarter of last fiscal. On a quarter-on-quarter basis, revenue climbed 4.9% from Rs 1959.4 crore.
The stock closed flat despite strong Q3 earnings show. Net profit increased by 106.81% on YoY basis during Q3FY23. Net interest income grew by 20.26% on YoY basis during Q3FY23. Gross NPAs in reduced by 369 bps on YoY basis to 7.93% and Net NPAs reduced by 195 bps on YoY basis to 2.14% as on 31.12.2022. The stock closed 0.37% lower at Rs 81.30 on BSE.
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