A security guard stands outside the BSE building in Mumbai, India. (Photographer: Adeel Halim/Bloomberg News)

Sensex, Nifty Resume Decline After One-Day Rebound

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Tech Mahindra Meets Estimates In September Quarter

Tech Mahindra's net profit rose 18.5 percent quarter-on-quarter to Rs 1,064.3 crore for the quarter ended September, the company said in an exchange filing today. That compares with the Bloomberg consensus estimate of Rs 1,013 crore.

Revenue rose 4.3 percent on a sequential basis to Rs 8,629.8 crore during the three-month period. That was also above the Rs 8,609 crore forecast. Revenue in dollar terms fell 0.5 percent from the last quarter to $ 1,218 million.

Closing Bell: Sensex, Nifty Resume Decline Dragged By Energy Shares

Indian equity benchmarks resumed decline after a rebound in the previous session dragged by energy and metal stocks.

The S&P BSE Sensex fell 0.52 percent or 176 points to 33,891 and the NSE Nifty 50 Index declined 0.51 percent or 52 points to 10,198.

Twelve of 19 sector gauges compiled by BSE ended higher. The S&P BSE Energy Index was the top sectoral loser, down 2.7 percent. On the other hand, the S&P BSE Information Technology Index was top gainer, up 1.7 percent.

Mid- and small-cap shares outperformed their larger peers as the S&P BSE MidCap and S&P BSE SmallCap Indices rose 0.9 percent each.

Emami Swings After Profit Misses Estimates In Q2

Shares of the Kolkata-based beauty and healthcare products maker swung between gains and losses after its profit missed Bloomberg consensus estimates in September quarter.

Key earnings highlights:

  • Net profit down 16.2 percent at Rs 82.67 crore versus estimate of Rs 121 crore (YoY)
  • Revenue at Rs 628 crore versus Rs 627.93 crore (YoY)
  • Ebitda down 5.91 percent at Rs 189.4 crore versus Rs 201.3 crore
  • Margins at 30.2 percent versus 32.1 percent

Rallis India, Ipca Labs Among Stocks Moving On Heavy Volumes

  • VRL Logistics: The Hubli-based logistics company swung between gains and losses. Trading volume was 19 times its 20-day average.
  • Unichem Labs: The Mumbai-based drugmaker rose 4.4 percent to Rs 219.35. Trading volume was 10 times its 20-day average.
  • Rallis India: The Mumbai-based agricultural chemicals maker rose 0.7 percent to Rs 169. Trading volume was 7 times its 20-day average.
  • Ipca Labs: The Mumbai-based drugmaker rose 2 percent to Rs 660. Trading volume was 7 times its 20-day average.

Bank Of Maharashtra Gains Most In 12 Years After Swinging To Profit In Q2

Shares of the state-run lender rose nearly 20.8 percent, its biggest intraday gain since June 2006, to Rs 20.78 per share after announcing its September quarter results.

Key earnings highlights:

  • Net profit at Rs 27 crore versus Rs loss of Rs 23.24 crore (YoY)
  • Net interest income up 4.15 percent at Rs 1,003 crore versus Rs 963 crore (YoY)
  • Gross non-performing assets as a percentage of total advances at 18.64 percent versus 21.18 percent (QoQ)
  • Net non-performing assets as a percentage of total advances at 10.61 percent versus 12.20 percent (QoQ)
Sensex, Nifty Resume Decline After One-Day Rebound