Sensex, Nifty Rebound From Two-Week Low As Infosys, L&T Lead
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Sensex, Nifty Rebound From Two-Week Low As Infosys, L&T Lead

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Closing Bell: Sensex, Nifty Rebound From Two-Week Low As Infosys, L&T Lead

Indian indices recovered from a two-week low, led by the gains in Infosys Ltd. and Larsen & Toubro Ltd.

The S&P BSE Sensex rose 0.66 percent to close at 41,386.40 and the NSE Nifty 50 rose 0.61 percent to end at 12,180.35. The broader markets represented by the NSE Nifty 500 Index rose 0.75 percent.

The 30-share index and the 50-stock gauge ended had yesterday at 41,115.38 and 12,106.90 respectively, their lowest since Jan. 8, 2020.

While the Sensex halted its three-day losing streak today, the Nifty halted its four-day losing streak—the longest stretch of losses in over three months.

The market breadth was tilted in favour of buyers. About 1,077 stocks advanced and 728 shares declined on National Stock Exchange.

Ten out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Realty Index’s 2.1 percent gain. On the flipside, the NSE Nifty Media Index was the only sectoral loser, down 1.95 percent.

Fab Four Stocks Of The Day

AU Small Finance Bank

  • Stock rose as much as 13.6 percent, the most since July 10, 2017, to hit an all-time high at Rs 1,008, after announcing December quarter results.

Key Earnings Highlights (Q3, YoY)

  • Net interest income up 46 percent to Rs 506.83 crore.
  • Net profit up 99.5 percent to Rs 190.19 crore.
  • Provisions down 34.3 percent to Rs 401.06 crore. (QoQ)
  • Gross NPA at 1.88 percent versus 2.01 percent. (QoQ)
  • Net NPA at 1.01 percent versus 1.14 percent. (QoQ)

GE T&D

  • Stock rose much as 8.6 percent to Rs 165.95.
  • Wins order worth Rs 173 crores J&K Power Development Department
  • Order included five-year maintenance services and supply of solutions in the overall distribution network in cities of Jammu and Srinagar.

Dishman Carbogen Amcis

  • Stock hit an upper crcuit of 5 percent at Rs 83.80.

Key Earnings Highlights (Q3, YoY)

  • Revenue up 13.2 percent to Rs 542.3 crore.
  • CRAM segment revenue up 20 percent to Rs 402.4 crore.
  • Net profit down 20.5 percent to Rs 32.9 crore.
  • Ebitda down 4.9 percent to Rs 126.2 crore.
  • Margin at 23.3 percent versus 27.7 percent.

Indraprastha Gas

  • Stock rose as much as 4.9 percent to Rs 4.9 percent to Rs 495.
  • Fresh longs seen with high open interest of 14 percent.
  • Trading volume was three times its 20-day average.

Stocks Moving On Heavy Volumes

NHPC

  • Stock rose as much as 9.9 percent to Rs 28.75.
  • Trading volume was almost five times its 20-day average.

Star Cement

  • Stock rose as much as 2.7 percent to Rs 91.70.
  • Trading volume was more than 15 times its 20-day average.

Atul

  • Stock rose as much as 1.8 percent to Rs 4,399.85
  • Trading volume was almost 11 times its 20-day average.

Tata Investment Corp

  • Stock rose as much as 10.2 percent to Rs 913.85.
  • Trading volume was almost 10 times its 20-day average.

PVR Q3 Profit Misses Estimates

Shares of PVR fluctuated between gains and losses to trade 0.5 percent higher at Rs 1,927 after its profit in the three months ended December missed estimates.

Key Earnings Highlights (Q3, YoY)

  • Revenue up 8.6 percent to Rs 915.7 crore.
  • Net profit down 34.4 percent to Rs 36.3 crore.
  • Ebitda up 87 percent to Rs 307.3 crore.
  • Margin at 33.6 percent versus 19.5 percent.
  • Other income at Rs 8.2 crore versus Rs 14.3 crore.

Westlife Development Surges 12% To Record High After Q3 Results

Shares of Westlife Development rose as much as 12.1 percent, the most since Nov. 6, 2019, to hit an all-time high at Rs 432.90, after the company announced its third-quarter results.

Key Earnings Highlights (Q3, YoY)

  • Revenue up 16.7 percent to Rs 432.9 crore.
  • Net profit up 2.1 times to Rs 14.4 crore.
  • Ebitda up 2.1 times to Rs 70.9 crore.
  • Margin at 16.4 percent versus 9 percent.
  • Same-store sales growth at 9.2 percent versus 14.5 percent.

Oil India Halts Three-Day Losing Streak

Shares of Oil India halted a three-day losing streak. The stock rose nearly 4 percent intraday to Rs 142.95.

Oil Minister Dharmendra Pradhan said that the telecom demand is a ‘miscommunication’ and that he is in talks with Department of Telecom, according to Bloomberg report.

The oil explorer had moved Supreme Court on AGR verdict. The company had received a demand for Rs 48,000 crore for telecom adjusted gross revenue dues and had taken the matter with Telecom and Oil Ministries.

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