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Sensex, Nifty Gain For Third Straight Day Paced By Axis Bank, BPCL

Indian equity benchmarks opened higher in today’s trade. 



The Bombay Stock Exchange (BSE) logo sit on display inside the bourse in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)
The Bombay Stock Exchange (BSE) logo sit on display inside the bourse in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)
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BQ Live: Decoding Global Markets Performance

Closing Bell: Nifty Settles Above 10,900 Led By HDFC, TCS

Indian equity benchmarks rose for third day in a row but capped gains amid volatility as investors awaited earnings from two major companies, Reliance Industries and Hindustan Unilever, which were scheduled to report earnings today.

The S&P BSE Sensex rose 0.15 percent or 53 points to 36,374 and the NSE Nifty 50 Index climbed 0.14 percent or 15 points to 10,905.

Eleven of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Realty Index’s 1.1 percent gain. On the flipside, S&P BSE Healthcare Index was top loser, down 1 percent.

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Geojit Financial Services Drops After Profit Halves In December Quarter

Shares of the Kochi-based stock broker fell as much as 5.71 percent, the most in over a month, to Rs 44.55 after its profit halved in December quarter.

Key earnings highlights:

  • Revenue declined 25 percent to Rs 68.29 crore versus Rs 91.28 crore (YoY)
  • Net profit dropped 51 percent to Rs 10.22 crore versus Rs 20.87 crore (YoY)

Mastek Swings After Q3 Earnings

Shares of the Ahmedabad-based software services company swung between gains and losses after it reported December quarter earnings.

Key earnings highlights:

  • Net profit at Rs 26.5 crore versus Rs 18.43 crore (YoY)
  • Revenue at Rs 265 crore versus Rs 209.51 crore (YoY)
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Jet Airways Surges As Etihad Offers To Infuse Up To Rs 1,000 Crore

Shares of the Mumbai-based airline operator reversed losses and rose as much as 7.45 percent to Rs 290 after sources told BloombergQuint that Etihad Airways PJSC along with its partners has offered to infuse Rs 800-1,000 crore equity in Jet Airways.

  • Etihad has also sought for removal of Naresh Goyal from Jet Airways board.
  • Naresh Goyal is in separate discussions to invest Rs 700 crore equity in Jet Airways to retain his board position.
  • Lenders still assessing plans and await details of source of funding in both offers.
Sensex, Nifty Gain For Third Straight Day Paced By Axis Bank, BPCL

Fiberweb India Drops After Profit Declines In December Quarter

Shares of the textile maker fell as much as 5.63 percent to Rs 39.40 after its profit declined in December quarter.

Key earnings highlights:

  • Revenue declined 57 percent to Rs 35.10 crore versus Rs 81.80 crore (YoY)
  • Net profit fell 40 percent to Rs 61.28 crore versus Rs 10.32 crore (YoY)
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