Sensex, Nifty Snap Two-Day Gaining Streak As ICICI Bank, HDFC Twins Drag
A stockbroker talks on the telephone while working on his computer at Shore Capital Markets in London, U.K. (Photographer: Chris Ratcliffe/Bloomberg News)

Sensex, Nifty Snap Two-Day Gaining Streak As ICICI Bank, HDFC Twins Drag

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Closing Bell: Sensex, Nifty Snap Two-Day Gaining Streak As ICICI Bank, HDFC Twins Drag

Indian equities halted their two-day gaining streak, led by the declines in ICICI Bank Ltd., HDFC Ltd. and HDFC Bank Ltd.

The S&P BSE Sensex fell 0.26 percent to end at 41,459.79 and the NSE Nifty 50 fell 0.22 percent to close at 12,174.65. The broader markets represented by the NSE Nifty 500 Index fell 0.19 percent.

The market breadth was tilted in favour of sellers. About 986 stocks declined and 790 shares advanced on National Stock Exchange.

Six out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Private Bank Index’s 1.4 percent fall. On the flipside, the NSE Nifty Pharma Index was the top sectoral gainer, up 0.85 percent.

Stocks Reacting To Results Announcement

Adani Transmission (Q3, YoY)

  • Stock rose as much as 3.3 percent to Rs 346.80.
  • Revenue up 1.3 percent to Rs 2,777.6 crore.
  • Net profit up 32.5 percent to Rs 203.7 crore.
  • Ebitda up 36.7 percent to Rs 1,109.5 crore.
  • Margin at 39.9 percent versus 29.6 percent.

Godrej Industries (Q3, YoY)

  • Stock rose as much as 3.2 percent to Rs 443.10.
  • Revenue up 11.5 percent to Rs 2,696.31 crore.
  • Net profit up 45 percent to Rs 112.57 crore.

Stocks Moving On Heavy Volumes

Torrent Power

  • Stock rose as much as 9.6 percent to Rs 332.80 after announcing December quarter results.

Key Earnings Highlights (Q3, YoY)

  • Revenue fell 5.4 percent to Rs 3,079 crore
  • Net profit rose 77 percent to Rs 419.4 crore
  • Ebitda rose 14.1 percent to Rs 840.4 crore
  • Margin stood at 27.3 percent versus 22.6 percent.

Venky’s India

  • Stock rose as much as 12 percent to, the most since Aug. 5, 2019, to Rs 1,528.90.
  • Shares halted their five-day losing streak.

Take Solutions

  • Stock rose as much as 8 percent to Rs 103.70 after announcing December quarter results.

Key Earnings Highlights (Q3, YoY)

  • Revenue up 24.8 percent to Rs 651.1 crore.
  • Net profit up 40.8 percent to Rs 50.4 crore.
  • Ebitda up 22.9 percent to Rs 108.4 crore.
  • Margin at 16.6 percent versus 16.9 percent.

Mishra Dhatu Nigam

  • Stock rose as much as 10.6 percent to Rs 183.25.
  • Revenue up 35.1 percent to Rs 206.9 crore.
  • Net profit up 3.6 times to Rs 60.5 crore.
  • Ebitda up 3.4 times to Rs 57.3 crore.
  • Margin at 27.6 percent versus 11.2 percent.

Stocks Moving On Heavy Volumes

Tasty Bite Eatables

  • Stock rose as much as 19.9 percent to Rs 12,507.
  • Trading volume was almost 30 times its 20-day average.

Vardhman Textiles

  • Stock fell as much as 3.1 percent to Rs 982.
  • Trading volume was more than 11 times its 20-day average.

Jyothy Labs

  • Stock fell as much as 5.5 percent to Rs 133.50.
  • Trading volume was almost seven times its 20-day average.

Great Eastern Shipping

  • Stock fell as much as 14.9 percent to Rs 278.95.
  • Trading volume was more than five times its 20-day average.

Global Markets Update: Stocks Slide As Virus Cases Jump

Stocks fell alongside U.S. equity futures on Thursday as officials in China deployed a revised methodology to diagnose the coronavirus, sending the number of confirmed cases soaring. Treasuries, gold and the yen all jumped.

  • Futures on the S&P 500 Index declined 0.5 percent.
  • The Stoxx Europe 600 Index dipped 0.5 percent.
  • The MSCI Asia Pacific Index decreased 0.1 percent.
  • The MSCI Emerging Market Index dipped 0.2 percent.

Get your daily fix of global markets here.
Source: Bloomberg

HAL Falls After Q3 Results

Shares of Hindustan Aeronautics fell as much as 2.2 percent to Rs 758.95 after announcing December quarter results.

Key Earnings Highlights (Q3, YoY)

  • Revenue up 1 percent to Rs 4,456.4 crore.
  • Net profit up 1.2 percent to Rs 460.7 crore.
  • Ebitda down 1.6 percent to Rs 873.6 crore.
  • Margin at 19.6 percent versus 20.1 percent.
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