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Shares of the three-wheeler maker pared gains and dropped as 3.8 percent after its net profit declined on a year-on-year basis.
The company posted a net profit of Rs 58.58 crore for the three-month period ending December, compared to Rs 61.76 crore same period a year ago. It clocked net sales of Rs 676 crore versus Rs 640 crore YoY.
Shares of the water tank maker dropped as much as 6.8 percent, the most since November 9, after reporting a net income slump of 39 percent for the third quarter.
The company posted a net profit of Rs 111 crore for the three-month period ending December, compared to Rs 181 crore same period a year ago.
Shares of the state-owned bank dropped as much as 5 percent, the most since December 5, after reporting third quarter net profit of Rs 322 crore, which was lower than Rs 345 crore estimated by analysts in a Bloomberg.
Shares of the education service provider dropped as much as 6 percent after its net profit havled for the December quarter.
The company reported a net profit of Rs 6 crore for the three-month period, compared to Rs 13.7 crore during the same period last year. It clocked net sales of Rs 267 crore for the December quarter, versus Rs 262 crore a year ago.
Its EBITDA came in at Rs 8 crore versus Rs 16.4 crore YoY.
Shares of the billionaire Gautam Adani-led firm slumped as much 8.8 percent after it reported disappointing set of third quarter earnings.
The power producer posted a net loss of Rs 324 crore for the three-month period ending December, compared to the Rs 130 crore loss estimated by analysts polled by Bloomberg.
It clocked net sales of Rs 5,810 crore for the December quarter, which was in line with street estimate.
Rupee recovered by 10 paise to 68.03 against the U.S. dollar in early trade today on fresh selling of the American currency by exporters.
Besides, dollar's weakness against other currencies overseas after Fed Chair Janet Yellen indicated the central bank would take a wait-and-see approach to monetary policy, suggesting any rate hikes this year could be slow, supported the rupee, forex dealers said.
However, they said, a lower opening of the domestic equity market, capped the gain. The local unit had lost 5 paise to close at one-week low level of 68.13 in yesterday's trade.
PTI
Shares of the country’s largest auto component maker jumped 4 percent to Rs 338 after it offered to acquire a Finland’s PKC Group for as much as 571 million euros ($610 million).
The Indian company will make a public tender offer of 23 euros a share for the truck wire maker, it said in a statement, which is a 51 percent premium over PKC’s closing stock price on Thursday. The acquisition is said to be completed by March.
Movers & Shakers: Axis Bank, Orient Green Power, Idea Cellular And More
Offerings
Apple has long list of demands before it starts making iPhones in India, reports @saritharai.https://t.co/ie5LAEWpCq pic.twitter.com/0R9YRYA5vK
— BloombergQuint (@BloombergQuint) January 20, 2017
Indian rupee may post a gain against the dollar this week. The rise will be the first in six weeks. Asian currencies were up against the dollar after the Fed Chair Janet Yellen said the rate increase will be gradual.
In bond news, the yields on the longer-term Indian bonds are likely to rise in 2017 as the spread with U.S. Treasuries narrows, according to SocGen. Traders are concerned about the demand for longer tenure notes in today's auctions, as the underwriting fees rose sharply, signaling a weak appetite.
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The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty’s performance in India, fell 0.2 percent to 8,425.
Most Asian equities traded in a narrow range this morning, as investors digest a slew of economic data from China, latest comments from Fed Chair Janet Yellen and await U.S. President-elect Donald Trump’s inauguration.
China’s gross domestic product rose 6.8 percent in the fourth quarter last year, slightly better than economists’ estimate.
The dollar erased an advance after Janet Yellen said it’s prudent for the Federal Reserve to gradually adjust policy over time.
Long-term strength of the dollar is important “now more than ever”, Treasury Secretary nominee Steven Mnuchin told U.S. lawmakers during his confirmation hearing on Thursday before the Senate Finance Committee.
Jobless claims declined by 15,000 to 234,000 for the week ending January 14, according to data from the U.S. Labor Department. The median estimate of analysts surveyed by Bloomberg stood at 252,000.
Oil extended Thursday's gains after government data indicated that U.S. crude stockpiles at its biggest storage hub, at Cushing, Oklahoma, dropped the most since October.
Gold traded 0.2 percent higher around the $1,200 an ounce mark and is set to post the fourth straight week of gains.
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