A bronze bull statue stands at the entrance to the Bombay Stock Exchange (BSE) building. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty Extend Record-Breaking Run

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M&M Financial Services’ Q2 Profit Misses Estimates

Auto and home loan lender Mahindra & Mahindra Financial Services Ltd. reported a loss for the sixth straight quarter, missing analyst estimates.

  • Q2 net profit declined 17.7 percent to Rs 77.99 crore against estimate of Rs 164 crore
  • Revenues rose 11.3 percent to Rs 1,660.7 crore compared to the same quarter last year
  • Assets under management grew 14 percent to Rs 49,918 crore

Speaking to BloombergQuint Ramesh Iyer, vice-chairman and managing director at the company expects pick up in tipper and construction equipment sale in the second half which will add to company’s growth going ahead.

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Closing Bell

Indian equity benchmarks rose to fresh record highs led by gains in Maruti Suzuki, Axis Bank, Larsen & Toubro and Tata Steel.

The S&P BSE Sensex rose 0.32 percent to 33,147.13 and the NSE Nifty 50 Index advanced 0.47 percent to 10,343.80.

Sixteen out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Oil & Gas Index’s 2.2 percent surge. On the other hand, the S&P BSE Consumer Durables Index was the top sectoral loser, down 0.8 percent.

Sensex, Nifty Extend Record-Breaking Run

Shoppers Stop Falls On Reporting Loss In September Quarter

Shares of the Mumbai-based department store chain fell as much as 3.6 percent, the most since October 3, to Rs 508.50 after it reported loss in July-September quarter.

  • Q2 loss at Rs 21.8 crore against estimate of profit of Rs 8.77 crore
  • Revenue at Rs 838 crore versus estimate of Rs 1,060 crore
  • Total costs at Rs 824 crore
  • Company reported one-time loss of Rs 33.8 crore

V-Guard Industries Slips Post Q2 Earnings

Shares of the electrical components maker declined 1.2 percent after it reported September quarter earnings post market hours on Wednesday.

  • Q2 net profit jumped 25 percent to Rs 46.49 crore in July to September quarter
  • Sales grew 15 percent to Rs 560 crore from Rs 486 crore during the same period year ago

Speaking to BloombergQuint Mithun Chittilappilly, managing director of the Kochi-based company said stabilizer, inverter and kitchen appliances segment did well in the September quarter.

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RBL Bank Q2 Profit Beats Street Estimates

RBL Bank Ltd.’s profit surpassed analyst estimates in the July-September quarter, driven by strong net interest income.

  • Net profit rose 67.8 percent to Rs 151 crore compared to the same period last year, the lender said in an exchange filing. The consensus estimate of analysts tracked by Bloomberg stood at Rs 144 crore.

Speaking to BloombergQuint, Vishwavir Ahuja, MD and CEO of the Kolhapur-based lender said better than expected margin improvement and stable asset quality worked in their favour in the September quarter.

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