Sensex, Nifty End Little Changed After Rallying For Five Days
Closing Bell: Sensex, Nifty End Little Changed After RBI's Surprise Rate Cut
Indian equity benchmark ended a little changed after rallying for five days.
This comes after RBI’s 25-basis-point rate-cut came in as a surprise as only eight of 38 economists surveyed by Bloomberg had expected a cut in rates to 6.25 percent.
The S&P BSE Sensex Index and the NSE Nifty 50 Index ended a little changed at 36,971.09 and 11,069.40 respectively.
Seven out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Media Index's 2.5 percent gain. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral loser, down 0.37 percent.
Tata Motors Extends Gain Ahead of Q3 Results Announcement
Shares of Tata Motors extended gains for the second day and rose as much as 3.6 percent to Rs 185 ahead of its quarterly results announcement.
Here’s what analysts tracked by Bloomberg expects the company to report for December quarter on a yearly basis.
- Revenue seen 6 percent higher at Rs 78,750 crore.
- Ebitda seen 2.8 percent lower at Rs 8,300 crore.
- Profit seen 28 percent lower at Rs 772 crore.
- Margin seen at 10.5 percent versus 8.1 percent.
Stocks Moving On Heavy Volumes
- Stock rose as much as 9.1 percent to Rs 519.85.
- Trading volume was more than 16 times its 20-day average.
- Stock rose as much as 9.2 percent to Rs 105.80.
- Trading volume was more than 11 times its 20-day average.
- Stock fell as much as 30.5 percent to Rs 107.25.
- Trading volume was almost 15 times its 20-day average.
- Stock rose as much as 12.5 percent to Rs 114.90.
- Trading volume was almost quadruple its 20-day average.
Grasim Industries' Q3 Profit Up 28%
Grasim Industries quarterly profit during October-December period rose 28 percent year-on-year, according to its stock exchange filing.
Key earnings highlights (Q3, YoY)
- Revenue up 21 percent to Rs 5292 crore.
- Net profit up 28 percent to Rs 608 crore.
- Ebitda up 19 percent to Rs 1052 crore.
- Margins to 19.8 percent versus 20.1 percent.
Shares of the company rose as much as 2.7 percent to Rs 753.50 after the results announcement.
Raymond Falls 9% From Day's High
Shares of Raymond fell as much as 11.7 percent to Rs 627.70.
A BloombergQuint investigation has found four years of curious transactions between public listed textile and branded apparel company Raymond Ltd. and an entity owned by its promoter Gautam Singhania.(Catch the full details here)
Trading volume was 4.3 times its 30-day average, Bloomberg data showed. The stock traded at 18.6 times estimated forward earnings per shred compared to a 29.4 times for the two-year historical average.