Sensex Closes Above 35,000 For First Time, Nifty Touches 10,800
Indian equity benchmarks scaled new peaks after the government slashed its borrowing target allaying some of the concerns around a widening fiscal deficit ahead of the budget.
The S&P BSE Sensex Index closed 0.9 percent higher at 30,801 and the NSE Nifty 50 Index rose 0.8 percent to close at 10,788.
The market breadth was tilted in favour of buyers. All the 19 sector gauges compiled by BSE closed higher led by the S&P BSE Capital Goods Index’s 1.6 percent gain.
Adani Power Shares Slide After Loss Widens
Shares of the power transmitter extended decline for the fifth trading session and fell as much as 5.9 percent to Rs 39.75 after its net loss widened during the previous quarter.
Highlights From Earnings (Q3, Consolidated, YoY)
- Net loss at Rs 1,290 crore versus net loss of 667.9 crore.
- Revenue declined 10.8 percent to Rs 4,844.46 crore.
- Ebitda declined 44.2 percent to Rs 728 crore.
- Ebitda margin contracted to 15 percent versus 24 percent.
- Received approval for setting up 1600 MW power plant in Jharkhand for power supply to Bangladesh.
- Jharkhand plant to be financed by debt, equity.
- Jharkhand project aimed to commence in May 2022.
- Appoints Rajat Kumar Singh as CFO.
Kedar Vaze, CEO Of SH Kelkar Speaks To BloombergQuint
- Recovery led by strong demand from FMCG.
- Have taken adequate steps to ensure supply; margins have expanded due to cost control measures.
- No substantial price increases this quarter, growth based on good volumes.
- Have paid 12 million Euros for acquisition for Italy-based company.
- Italy-based company's acquisition funded from internal accruals.
- Remaining 49 percent acquisition will be completed in the next three years.
- Confident of maintaining 15 percent CAGR growth.
Jubilant Life Sciences Jumps After Q3 Beats Estimates
Shares of the pharmaceutical company rose as much as 5.4 percent to Rs 854.30 after the company’s earnings beat estimates during the quarter-ended December.
Key Highlights from Earnings (Q3, YoY)
- Net profit rose 79 percent to Rs 213 crore.
- Revenue rose 41.8 percent to Rs 2067.7 crore.
- Ebitda rose 25.6 percent to Rs 416.7 crore.
- Ebitda margins expanded 260 basis points to 20.2 percent.