Employees walk past electronic boards displaying stock figures in the atrium of the National Stock Exchange of India Ltd. (NSE) building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty Close Higher After Two-Week Rout

Latest First
  • Oldest First

Closing Bell

Indian equity benchmarks rebounded from its two back-to-back weekly declines in more than four months as stocks gained across Asia.

The S&P BSE Sensex Index closed 0.9 percent higher at 34,300.47, while the NSE Nifty closed 0.8 percent higher at 10,539.75.

The market breadth was tilted in favour of buyers. Seventeen out of 19 sector gauges compiled by BSE Ltd. rose, led by S&P BSE Power Index's 1.9 percent gain. On the flipside, S&P BSE Information Technology was the top sectoral loser, down 0.4 percent.

Sensex, Nifty Close Higher After Two-Week Rout

Pramod Khera, ED At Repro India Speaks To BloombergQuint

Key highlights from the conversation:

  • Expect to maintain rising revenue trend going ahead.
  • Month on month books on demand business is growing.
  • Had close to 5 crore books on demand for January.
  • Input costs are a pass through costs which are transferred to publishers.
  • Will consolidate traditional business into one unit in Gujarat.
  • Books on demand business generated a business of Rs 3.5 crore.
  • Hopeful of maintaining 14.5 percent margins in the coming quarter.
  • Not focusing on improving margins, will be happy to maintain.
  • Planned Rs 30 crore capex plan in books on demand business for the next 6-9 months.
  • Cost of material has gone up.

Abhishek Jain, MD And CEO At PPAP Automotive Speaks To BloombergQuint

Key highlights from the conversation:

  • Have funded all our capacity expansion by internal accruals & believe this to continue.
  • No plans of fund raising as of now.
  • Debt-to-equity stands at 0.14 times currently.
  • Sustaining 20 percent Ebitda margins will not be a problem at all.
  • Orders from key clients like toyota, tata motors will improve growth prospects.
  • Have been able to sustain 20 percent Ebitda margins till now.
  • 80 percent capacity utilisation currently.
  • Gujarat plant likely to commence full-fledged production by June.
  • Chennai plant now ready to cater to customers.
  • Maintenance shut down with key clients like Maruti impacted Q3 results.
  • Brownfield expansion plan is almost complete.

Futures Enterprises Posts First Profit In Six Quarters

Future Enterprises swings to profit for the first time in six quarters during October-December period. The stock rose as much as 14.5 percent to Rs 47.85 after the earnings announcement.

Key Earnings Highlights Q3 (YoY)

  • Net profit at Rs 82 crore versus net loss of Rs 37 crore.
  • Revenue rose 15.5 percent to Rs 1,091.4 crore.
  • Ebitda rose 18.6 percent to Rs 275 crore.
  • Margin expanded to 25.2 percent versus 24.6 percent.

Reliance Infrastructure Received CCI Approval For Its Mumbai Power Business Sale

Shares of the power supplier rose as much as 3.5 percent to Rs 467.40. The company received approval from Competition Commission of India for the sale of its Mumbai power business to Adani Transmission, according to its stock exchange notification.

The company expects to complete the transaction by March, the statement added.

The stock is 32 percent below the Bloomberg consensus one-year rice target. It declined 17 percent since the beginning of the year.