A trader monitors financial data on his computer screens at a stock exchange. (Photographer: Ralph Orlowski/Bloomberg)

Sensex, Nifty Fall For Second Day Led By Decline In ITC

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Closing Bell: Sensex Ends 336 Points Lower Led By Decline In ITC

Indian equity benchmarks fell for second day in a row led by decline in ITC after its profit grew at slowest pace in seven quarters.

The S&P BSE Sensex fell 0.92 percent or 336 points to 36,108 and the NSE Nifty 50 Index dropped 0.84 percent or 91 points to 10,831.

ITC's net profit rose 4 percent year-on-year to Rs 3,209 crore in the quarter ended December, the country’s largest cigarette maker said in an exchange filing. That compares with the Rs 3,129 crore consensus estimate of analysts tracked by Bloomberg.

Losses in ITC alone wiped out over 100 points from the Sensex making it biggest drag on the 30-share index.

Seventeen of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Fast Moving Consumer Goods Index's 1.4 percent decline. On the other hand, S&P BSE Metal Index was top gainer, up 0.63 percent.

Mid- and small-cap shares also witnessed a mild selling pressure as the S&P BSE MidCap Index declined 0.3 percent and the S&P BSE SmallCap Index declined 0.2 percent.

Vodafone Idea Approves Fund Raising Via Rights Issue

Board of directors of the country's largest wireless telecom service provider approved raising up to Rs 25,000 crore via rights issue.

  • Vodafone will contribute Rs 11,000 crore
  • Aditya Birla will add up to Rs 7,250 crore

Oriental Hotels Surges After Profit Jumps Over Six Times In Q3

Shares of the Chennai-based hotel chain operator rose as much as 8.56 percent to Rs 48.85 after its profit rose over six times in December quarter.

Key earnings highlights:

  • Revenue at Rs 89.81 crore versus Rs 92.50 crore (YoY)
  • Other income at Rs 3.75 crore versus Rs 1.66 crore (YoY)
  • Net profit at Rs 14.85 crore versus Rs 2.37 crore (YoY)

ITC Drops Most In Over 11 Months After Margins Miss Estimates In Q3

Shares of the country's largest cigarette maker fell as much as 4.28 percent, the most since February 2018, to Rs 277.35 after its margins missed Bloomberg consensus estimates in December quarter.

ITC Ltd.’s profit rose at its slowest pace in seven quarters but met analyst estimates.

Net profit rose 4 percent year-on-year to Rs 3,209 crore in the quarter ended December, the country’s largest cigarette maker said in an exchange filing. That compares with the Rs 3,129 crore consensus estimate of analysts tracked by Bloomberg.

Hathway Cable, Star Cement Among Stocks Moving On Heavy Volumes

  • Hathway Cable: The Mumbai-based cable TV services provider rose as much as 3.57 percent to Rs 31.95. Trading volume was 200 times its 20-day average.
  • Security & Intelligence Services: The Delhi-based security services provider rose as much as 1.23 percent to Rs 789. Trading volume was 20 times its 20-day average.
  • ICICI Prudential: The Mumbai-based insurance services provider fell as much as 11 percent to Rs 307.55. Trading volume was 20 times its 20-day average.
  • Star Cement: The Kolkata-based cement maker rose as much as 2.6 percent to Rs 96.55. Trading volume was 10 times its 20-day average.