Nifty Logs Longest Losing Streak In Over Three Months
A stockbroker uses a telephone as financial data is displayed on his computer screens. (Photographer: Matthew Lloyd/Bloomberg)

Nifty Logs Longest Losing Streak In Over Three Months

Latest First
  • Oldest First

Closing Bell: Nifty Logs Longest Losing Streak In Over Three Months

Indian stocks declined for the fourth consecutive trading session and registered their longest stretch of losing streak in since Oct. 7, 2019.

The NSE Nifty 50 fell for the fourth consecutive trading session and declined 0.52 percent to close at 12,106.90. The S&P BSE Sensex declined for the third consecutive trading session and fell 0.5 percent to end at 41,115.38. The broader markets represented by the NSE Nifty 500 Index fell 0.41 percent.

The market breadth was tilted in favour of sellers. About 1,036 stocks declined and 739 shares advanced on National Stock Exchange.

Eight out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Metal Index’s 1.54 percent fall. On the flipside, the NSE Nifty Media Index was the top sectoral gainer, up 1.73 percent.

Large Trade Alert: Dish TV, Indian Oil

  • Dish TV: About 11.8 lakh shares changed hands in a large trade
  • Indian Oil: About 10.4 lakh shares changed hands in a large trade

Buyers and sellers were not known immediately.
Source: Bloomberg

Fab Four Stocks Of The Day

Hindustan Media Ventures

  • Stock rose as much as 11.9 percent, the most since Nov. 1, 2019, to Rs 87.60 after the company announced December quarter results.

Key Earnings Highlights (Q3, YoY)

  • Revenue down 5.6 percent to Rs 208.5 crore.
  • Net profit up 18.5 percent to Rs 32.7 crore.
  • Ebitda up 2.5 times to Rs 30.2 crore.
  • Margin at 14.5 percent versus 5.6 percent.

Prism Johnson

  • Stock rose as much as 9.4 percent to Rs 73.30, the highest since Nov. 15, 2019.
  • The company’s board plans to consider fund raising during its meeting scheduled on Jan. 24, 2020, according to its statement to the exchanges.

Themis Medicare

  • Stock rose as much as 5 percent to Rs 372.75.
  • The company received order for Feracrylum gel.
  • Mandated by the government in first aid kit for all types of vehicles.
  • Negotiating with various parties for utilising spare capacity for carrying out contract manufacturing of finished products.

Hatsun Agro Product

  • Stock rose as much as 7.9 percent to Rs 670 after the company announced December quarter results.

Key Earnings Highlights (Q3, YoY)

  • Revenue up 16.1 percent to Rs 1,340.2 crore.
  • Net profit up 50.8 percent to Rs 27.9 crore.
  • Ebitda up 41 percent to Rs 133.4 crore.
  • Margin at 10 percent versus 8.2 percent.

Stocks Moving On Heavy Volumes

IndiaMART InterMESH

  • Stock rose as much as 18.4 percent to Rs 2,478.
  • Trading volume was almost 30 times its 20-day average.

Can Fin Homes

  • Stock swung from a gain of as much as 8.9 percent to fall as much as 3.6 percent.
  • Trading volume was almost 17 times its 20-day average.

GE Power India

  • Stock fell as much as 1.6 percent to Rs 680.30.
  • Trading volume was more than 13 times its 20-day average.

Bharat Dynamics

  • Stock rose as much as 5.7 percent to Rs 322.95.
  • Trading volume was more than 12 times its 20-day average.

Alembic Pharma Q3 Profit Beats Highest Estimate

Alembic Pharmaceuticals’ net profit for the December quarter surpassed its highest estimate. Shares of the drugmaker fluctuated between gains and losses to trade little changed at Rs 597 after the results announcement.

Key Earnings Highlights (Q3, YoY)

  • Revenue up 18.7 percent to Rs 1,209.1 crore. (Bloomberg Estimate: Rs 1,177 crore)
  • Net profit up 37.9 percent to Rs 234.2 crore. (Bloomberg Estimate: Rs 190 crore) (Highest Estimate: Rs 220 crore)
  • Ebitda up 34.1 percent to Rs 325 crore. (Bloomberg Estimate: Rs 288 crore)
  • Margin at 26.9 percent versus 23.8 percent.

Asian Paints Falls After Q3 Results

Shares of Asian Paints fell as much as 2 percent to Rs 1,775.50 after the company announced December quarter results.

Key Earnings Highlights (Q3, YoY)

  • Revenue up 3 percent to Rs 5,420 crore. (Estimate: Rs 5,686 crore)
  • Net profit up 20 percent to Rs 764 crore. (Estimate: Rs 781 crore)
  • Ebitda up 8 percent to Rs 1,189 crore. (Estimate: Rs 1,174 crore)
  • Margin at 21.9 percent versus 21 percent. (Estimate: 20.6 percent)
BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.