Sensex, Nifty Extend Gains For Fourth Day After MPC Keeps Rates Unchanged
Indian equities ended higher for the fourth consecutive trading session after the Monetary Policy Committee decided to keep interest rates unchanged as expected.
The S&P BSE Sensex rose 0.4 percent to close at 41,306.03 and the NSE Nifty 50 rose 0.4 percent to close at 12,137.95. The broader markets represented by the NSE Nifty 500 Index rose 0.53 percent.
The market breath was tilted in favour of buyers. About 1,021 stocks advanced and 756 shares declined on National Stock Exchange.
Eight out of 11 sectoral gauges compiled by the NSE ended lower, led by the NSE Nifty PSU Bank Index’s 2.83 percent gain. On the flipside, the NSE Nifty FMCG Index was the top sectoral loser, down 0.64 percent.
India’s Monetary Policy Committee decided to keep interest rates unchanged. Concluding its three-day meet, the committee voted to keep the repo rate unchanged at 5.15 percent.
The committee reiterated that its monetary policy stance remains 'accommodative' for as long as it is necessary to revive growth, but decided to maintain a status quo on policy rates amid elevated inflation.
The decision was in line with market expectations. All 36 economists polled by Bloomberg had forecast a status quo in rates. The recent spike in inflation would have given the committee a reason to pause.
Other Key Highlights:
- MPC keeps reverse repo rate unchanged at 4.9 percent
- MPC keeps monetary policy stance unchanged at accommodative
- MPC votes 6-0 to keep rates unchanged
About 23.5 lakh shares of Asian Paints changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Shares of Lupin fell as much as 2.3 percent to Rs 706 after announcing December quarter results.
Key Earnings Highlights (Q3, YoY)
- Revenue down 5 percent to Rs 3,769 crore (Estimate: Rs 4,278 crore)
- Net loss at Rs 835 crore versus loss of Rs 153 crore (Estimate: Rs 227-crore profit)
- Exceptional loss of Rs 289 crore.
- Ebitda down 37 percent to Rs 429 crore (Estimate: Rs 706 crore)
- Margin at 11.4 percent versus 17.2 percent (Estimate: 16.5 percent)
Shares of Sun Pharmaceutical Industries rose as much as 2.8 percent to Rs 438 after announcing December quarter results.
Key Earnings Highlights (Q3, YoY)
- Revenue up 5 percent to Rs 8,155 crore (Estimate: Rs 8,228 crore)
- Net profit down 27 percent to Rs 914 crore (Estimate: Rs 1,054 crore)
- Ebitda down 14 percent to Rs 1,842 crore (Estimate: Rs 2,153 crore)
- Margin at 22.6 percent versus 27.81 percent (Estimate: 21.2 percent)
Eicher Motors Q3 Results: Profit Falls, Realisation Improves
Indian equities gained, but traded off day’s high after the Monetary Policy Committee announced its decision on key interest rates.
The S&P BSE Sensex rose 0.28 percent to 41,262 and the NSE Nifty 50 rose 0.26 percent to 12,121. The 30-stock index and the 50-share gauge had advanced as much as 0.64 percent and 0.59 percent respectively, earlier.
India’s Monetary Policy Committee decided to keep interest rates unchanged. Concluding its three-day meet, the committee voted to keep the repo rate unchanged at 5.15 percent.
The committee reiterated that its monetary policy stance remains 'accommodative' for as long as it is necessary to revive growth, but decided to maintain a status quo on policy rates amid elevated inflation.
The decision was in line with market expectations. All 36 economists polled by Bloomberg had forecast a status quo in rates. The recent spike in inflation would have given the committee a reason to pause.
Other Key Highlights:
- MPC keeps reverse repo rate unchanged at 4.9 percent
- MPC keeps monetary policy stance unchanged at accommodative
- MPC votes 6-0 to keep rates unchanged
Shares of Emami extended gains for the third consecutive trading session. The stock rose as much as 2.9 percent to Rs 316.
The company’s group entered into a binding agreement with Nuvoco Vistas Corporation Ltd. to sell Emami Cement Ltd. for an enterprise value of Rs 5,500 crore, according to a media statement.
The transaction is subject to the customary approvals including from the Competition Commission and is expected to be consummated in next three-to-four months, the statement added.
“This transaction is an important step in our Group’s stated objective of becoming debt-free and with this transaction, we will substantially achieve this objective,” Emami Group’s director Manish Goenka said.
The Brent crude extended rally for the second consecutive trading session. It rose as much as 2.4 percent to $56.58 a barrel and advanced 4.9 percent in two trading sessions.
Shares of Shree Renuka Sugars rose as much as 16.5 percent, the most since Nov. 11, 2018, to Rs 8.85.
Trading volume was more than four times its 20-day average, Bloomberg data showed. The scrip declined 16 percent in the past 12 months compared to a 12 percent gain in the Sensex.
Indian equities extended gins to trade at day’s high after the Monetary Policy Committee announced its decision on key interest rates.
The S&P BSE Sensex rose 0.55 percent to 41,377 and the NSE Nifty 50 rose 0.55 percent to 12,156. The broader markets represented by the NSE Nifty 500 Index rose 0.6 percent.
Reserve Bank of India Governor Shaktikanta Das said that the 'operation twist' is being used to ensure better monetary policy transmission.
Shaktikanta Das says:
- Maintaining surplus liquidity to ensure better monetary policy transmission.
- Corporate bonds are benchmarked to lending rates in G-Secs; if 'Operation Twist' is able to soften G-Sec yields on the longer end, they have a bearing on the corporate bond rates.
- 'Operation Twist' is not being used to manage yields on government securities.
Global stocks climbed back within 1 percent of an all-time high, and bond yields rose, on optimism, the global economy will weather the hit from the coronavirus, a sentiment that was strengthened Thursday by China’s plans for tariff cuts on U.S. imports.
- Futures on the S&P 500 Index rose 0.5 percent.
- Euro Stoxx 50 contracts were up 0.6 percent.
- Japan’s Topix index added 2.1 percent at the 3 p.m. close in Tokyo.
- South Korea’s Kospi index gained 2.7 percent.
- Hang Seng Index rose 2.9 percent.
- Australia’s S&P/ASX 200 Index climbed about 1.1 percent.
- Shanghai Composite Index gained 1.7 percent.
- MSCI Asia Pacific Index advanced 1.8 percent.
Get your daily fix of global markets here.
Source: Bloomberg
The MPC is forecasting GDP growth at 6 percent in FY21, similar to an estimate of 6-6.5 percent put out by the Economic Survey.
The MPC anticipates that a combination of factors may keep headline inflation elevated in the short-run, at least through the first half of 2020-21
Besides, MPC expects retail inflation at 6.5 percent in the fourth quarter of FY20 and at 5.4-5 percent the first half of FY21. Inflation is seen falling to 3.2 percent in the third quarter of next year.
“Overall, the inflation outlook remains highly uncertain. Accordingly, the MPC will remain vigilant about the potential generalisation of inflationary pressures as several of the underlying factors cited earlier appear to be operating in concert,” the committee said.
MPC Decision: MPC Keeps Interest Rates On Hold Amid Rising Inflation
Shares of Caplin Point Laboratories extended gains for the third consecutive trading session. The stock rose as much as 18.1 percent to Rs 383.50.
The scrip advanced 37 percent in three trading sessions. The Relative Strength Index was at 73, indicating that the stock may be overbought.
Shares of V-Mart Retail extended gains for the fourth consecutive trading session. The stock rose as much as 19.8 percent to Rs 2,513.
Trading volume was more than six times its 20-day average, Bloomberg data showed. The Relative Strength Index was above 70, indicating that the stock may be overbought.
Nifty’s 12,100 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire on Feb. 6, fell 51.43 percent to Rs 21.30. About 24.98 lakh shares were added to the open interest which stood at over 37.19 lakh shares.
- Ambuja Cements: About 11 lakh shares of the company changed hands in a large trade.
- Asian Paints: About 11.6 lakh shares of the company changed hands in a large trade.
- ICICI Prudential: About 10 lakh shares of the company changed hands in a large trade.
- ITC: About 10 lakh shares of the company changed hands in a large trade.
- Tata Motors: About 10.3 lakh shares of the company changed hands in a large trade.
Buyers and sellers were not known immediately.
Source: Bloomberg
DLF (Q3, YoY)
- Stock fell as much as 2.7 percent to Rs 246.60.
- Revenue down 39.5 percent to Rs 1,342 crore
- Ebitda down 64.3 percent to Rs 237.6 crore
- Margin at 17 percent versus 28.8 percent
- Net profit up 23.5 percent to Rs 414 crore
- Exceptional gains of Rs 231 crore on sale of stake in wholly owned subsidiaries and joint ventures aided net profit.
HPCL (Q3, QoQ)
- Stock fell as much a 1.7 percent to Rs 233.
- Revenue up 16.2 percent to Rs 70,749.6 crore
- Net profit down 29 percent to Rs 747.2 crore
- Ebitda down 19.7 percent to Rs 1,867 crore
- Margin stood at 2.6 percent versus 3.8 percent
- Gross refining margin stood at $1.79 per barrel versus $2.83 per barrel
Gujarat Gas (Q3, QoQ)
- Stock rose as much as 2.9 percent to Rs 305.
- Revenue flat at Rs 2,506.2 crore
- Net profit fell 62 percent to Rs 196.5 crore
- Ebitda flat at Rs 370.6 crore
- Margin stood at 14.8 percent versus 14.8 percent
Cadila Healthcare (Q3, YoY)
- Stock rose as much as 5.3 percent to Rs 285.90.
- Revenue up 1.7 percent to Rs 3,638.1 crore
- Net profit down 26.8 percent to Rs 373.9 crore
- Ebitda fell 17.5 percent to Rs 693.2 crore
- Margin stood at 19.1 percent versus 23.5 percent
Ajanta Pharma (Q3, YoY)
- Stock rose as much as 10.9 percent to Rs 1,328.
- Revenue rose 34.2 percent to Rs 651.2 crore
- Net profit rose 60.8 percent to Rs 107.6 crore
- Ebitda rose 73.3 percent to Rs 186 crore
- Margin stood at 28.6 percent versus 22.13 percent
Divi's Laboratories (Q3, YoY)
- Stock rose as much as 2.4 percent to Rs 2,009.
- Revenue rose 2.7 percent to Rs 1,396.3 crore
- Net profit fell 7.8 percent to Rs 359.1 crore
- Ebitda fell 7.3 percent to Rs 494 crore
- Margin stood at 35.4 percent versus 39.2 percent
Indiabulls Housing Finance (Q3, YoY)
- Stock rose as much as 3.9 percent to Rs 287.75.
- Net interest income fell 50.9 percent to Rs 614.1 crore
- Net profit fell 43.8 percent to Rs 546.9 crore
Brigade Enterprises (Q3, YoY)
- Stock rose as much as 1.6 percent to Rs 235.80.
- Revenue fell 19.7 percent to Rs 552.3 crore
- Net profit rose 1 percent to Rs 49.3 crore
- Ebitda fell 11.5 percent to Rs 155.6 crore
- Margin stood at 28.2 percent
Engineers India (Q3, YoY)
- Stock rose as much as 5.7 percent to Rs 99.50.
- Revenue rose 53.7 percent to Rs 899.2 crore
- Net profit rose 19.4 percent to Rs 111.8 crore
- Ebitda fell 8.7 percent to Rs 89.8 crore
- Margin stood at 10 percent versus 16.8 percent
- Deferred tax reversal of Rs 10 crore in current quarter
Prataap Snacks (Q3, YoY)
- Stock fell as much as 4.7 percent to Rs 778.90.
- Revenue rose 17 percent to Rs 360.7 crore
- Net profit fell 32.1 percent to Rs 5.5 crore
- Ebitda fell 1.8 percent to Rs 21.8 crore
- Margins stood at 6 percent versus 7.2 percent
Shares of Adani Gas Halted their two-day gaining streak. The stock fell as much as 0.7 percent to Rs 171.35.
The company expects Total SA deal to be closed in two weeks. Besides, it is also mulling direct LNG imports when sales volume rise, according to Bloomberg report.
The stock returned 4.7 percent in the past five days and 6.7 percent in the past 30 days, Bloomberg data showed.
Shares of Avenue Supermarts extended gains for the fourth consecutive trading session. The stock rose as much as 4.9 percent to hit an all-time high at Rs 2,360.
The company QIP opened on Feb. 5. The company is looking to raise Rs 3,998.08 crore from the issue of up to 2 crore shares. The SEBI-calculated floor price stands at Rs 1,999.04 per share, which is at a discount of 11 percent of the closing prices.
Trading volume was five times its 20-day average, Bloomberg data showed. The Relative Strength Index was above 70, indicating that the stock may be overbought.
Shares of ITI extended gains for the third consecutive trading session. The stock rose as much as 12.2 percent, the most since Jan. 7, to Rs 94.55.
The company withdrew its follow-on public offer citing prevailing market conditions.
The scrip traded at 31 times its estimated earnings per share for the coming year, according to Bloomberg data.
Indian equities opened higher, led by the gains in Larsen & Toubro Ltd. and Reliance Industries Ltd.
The S&P BSE Sensex rose 0.32 percent to 41,270 and the NSE Nifty 50 rose 0.37 percent to 12,132. The broader markets represented by the NSE Nifty 500 Index rose 0.4 percent.
The market breadth was tilted in favour of buyers. About 1,006 stocks advanced and 457 shares declined on National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Pharma Index’s 0.9 percent gain. On the flipside, the NSE Nifty Realty Index was the only sectoral loser, down 0.5 percent.
- Pidilite Industries promoter Harish Parekh sold 50,000 shares from February 3-4
- Music Broadcast promoter Jagran Prakashan acquired 60,000 shares on February 3
(As Reported On Feb. 5)
- Bajaj Electricals record date for Rights Issue 13:118 (Rights Issue Price At Rs 310 per share)
- Vinati Organics record date for stock split from Rs 2 to Rs 1 (FV)
- Gayatri Projects, Religare Enterprises to move into ASM Framework
- Ujaas Energy, Man Infraconstruction, Prism Medico & Pharmacy to move out of short term ASM Framework
- Tuticorin Alkali Chemicals & Fertilisers
- Uniply Décor
- Zenlabs Ethica
- Toyam Industries
- Lakshmi Vilas Bank
- NRB Industrial Bearings
- State Trading Corporation of India
- Mahanagar Telephone Nigam
- Ganesh Benzoplast
- GTL
- HCL Infosystems
- Reliance Infrastructure
- SPML Infra
- TCI Finance
- Industrial Investment Trust
- Orient Beverages
- Mahamaya Steel Industries
- Deepak Spinners
- Hindustan Foods
- Sanwaria Consumer
- Aban Offshore
- Ind-Swift
- Everest Organics
- Ludlow Jute & Specialities
- Vikas EcoTech
- Shriram Asset Management Company
- Duke Offshore
- Mukand Engineers
- Andhra Cements
- Ind-Swift Laboratories
- BF Utilities
- Jaiprakash Associates
- Mcleod Russel India
- Suzlon Energy
- Nitco
- Tanla Solutions
- Camlin Fine Sciences
- Indiabulls Ventures
- RattanIndia Power
- Den Networks
- Eros International Media
- Zee Learn
- PG Electroplast
- JK Agri Genetics
- Shankara Building Products
- Astron Paper & Board Mill
- Karda Constructions
- Jain Irrigation Systems
- ITD Cementation
- Magma Fincorp
- Sterling and Wilson Solar
- Artemis Medicare Services
- Dalmia Bharat Sugar and Industries
- Hindustan Construction Company
- LG Balakrishnan & Bros
- Mukand
- Lyka Labs
- Zuari Global
- Shree Digvijay Cement
- Arshiya
- Mangalam Organics
- Igarashi Motors
- Kilburn Engineering
- Birla Precision Technologies
- Reliance Industrial Infrastructure
- SREI Infrastructure Finance
- NGL Fine Chem
- Alphageo
- Electrotherm
- Patel Engineering
- Eveready Industries
- Pioneer Distilleries
- Filatex Fashions
- Gati
- Dwarikesh Sugar
- Rane (Madras)
- Aurionpro Solutions
- Godawari Power and Ispat
- Edelweiss Financial Services
- Rane Brake Lining
- Sicagen
- Ramky Infrastructure
- Gallantt Ispat
- Genus Paper & Boards
- Tejas Networks
- SMS Lifesciences
- New India Assurance
- 5paisa Capital
- Rajnish Wellness
- Spencers Retail
- Sundaram Brake Linings
- Sundaram Multi Pap
- Tijaria Polypipes
- Suven Life Sciences
- Orissa Minerals Development Company
- Shilpa Medicare
Price Band Revision
From 2% to 5%
From 5% to 10%
From 5% to 20%
From 10% to 20%
From 10% to 5%
From 20% to 10%
Westlife Development
- Kuwait Investment Authority Fund acquired 9 lakh shares (0.58 percent) at Rs 425 each
- Sundaram mutual fund acquired 13.67 lakh shares (0.88 percent) at Rs 425 each
- Promoter Makino Holdings sold 46.82 lakh shares (3.01 percent) at Rs 425.07 each
Simplex Infra
- UK Doshi acquired 3.11 lakh shares (0.54 percent) at Rs 49.14 each
- Nissay India Equity sold 16.53 lakh shares (2.89 percent) at Rs 48.81 each
Spandana Sphoorty Financial
- Alberta Teachers Retirement Fund acquired 13.16 lakh shares (2.05 percent) at Rs 1,012.72 each
- JM Financial India Trust II sold 16 lakh shares (2.49 percent) at Rs 1,012 each
Reliance Infra
- Vanguard Energy Fund sold 13.25 lakh shares (0.51 percent) at Rs 19.95 each
- Tourism Finance Corporation of India
- Dovetail India Fund acquired 10.72 lakh shares (1.33 percent) at Rs 67.04 each
- Anjana Projects acquired 7.72 lakh shares (0.96 percent) at Rs 67.03 each
- Promoter Redkite Capital sold 20 lakh shares (2.48 percent) at Rs 67.06 each
Indian equities are set for a tepid start.
The S&P BSE Sensex fell 0.12 percent to 41,089 during the pre-market trade, while the NSE Nifty 50 rose 0.29 percent to 12,124.
- Avenue Supermarts’ QIP opened on Feb. 5. The company is looking to raise Rs 3,998.08 crore from the issue of up to 2 crore shares. The SEBI-calculated floor price stands at Rs 1,999.04 per share, which is at a discount of 11 percent of the closing prices.
- ITI has withdrawn its follow-on public offer due to prevailing market conditions.
- Adani Gas expects Total SA deal to be closed in two weeks and the company is also mulling direct LNG imports when sales volume rise, according to Bloomberg report.
- SBI said that it has completed the divestment of its entire 7.41 percemt stake in Equifax Credit Information Services for Rs 68 crore.
- Kotak Mahindra Bank’s arm has completed the divestment of its entire 5.56 percent stake in Equifax Credit Information Services.
- Prestige Estate Projects QIP Issue: Monetary Authority of Singapore allotted 11.2 lakh shares, Nomura Group allotted 26.84 lakh shares, HDFC MF allotted 6.71 lakh shares and BNP Paribas Group allotted 19.11 lakh shares. Allotment Price was at Rs 372.5 per share and the issue aggregated to Rs 462.64 crore.
- Lupin received approval for Leflunomide tablets from the U.S. FDA to market a generic equivalent of Arava Tablets. The drug is used in the treatment of adults with active rheumatoid arthritis.
- CreditAccess Grameen received No-Objection Certificate from RBI for its acquisition of 76.34 percent stake in Madura Micro Finance.
- TCPL Packaging: Board to set up an arm for purpose of setting up and the implementation of the new manufacturing unit in Silvassa which will manufacture innovative films on a recently introduced technology that is being imported by the company from Germany. Initial capex for this project stands at Rs 35 crore.
- VST Tillers Tractors January Sales: Power Tillers Sales up 1 percent at 1971 units versus1950 units. Tractors sales fell 7 percent to 516 units.
- Navkar Corporation received Strategic Alliance Management Contract at lnland Clearance Depot, Valvada, Gujarat, via tender offered by Central Warehousing Corporation for an initial period of five years and further extendable for a period of two years on mutual consent.
- Hindustan Aeronautics signed a memorandum of understanding with Israel’s Elbit Systems for assessing the feasibility of the joint development of a Vertical Take-off and Landing Unmanned Aerial Vehicle for maritime and land-based military operations.
- Sagar Cements January Sales fell 1.59 percent to 315,309 metric tonnes.
- Panacea Biotec completed the transfer of its pharma business to its wholly-owned arm, Panacea Biotec Pharma.
- Matrimony.com acquired 26.1 percent stake in Astro-Vision Future Tech for Rs 6 crore.
- Emami IDBI Trusteeship Services increased stake from 7.38 percent to 11.85 percent in respect of pledge creation, on behalf of debenture holders.
- NRB Industrial Bearings: Ratnakar Mehendale resigned from the post of Chief Financial Officer with effect from Jan. 4. Gulestan Kolah to be the next CFO.
Nifty Earnings To Watch- Eicher Motors
- Hero MotoCorp
- Sun Pharma
Other Earnings To Watch
- NMDC
- Lupin
- Aarti Drugs
- Aurobindo Pharma
- Bata India
- Metropolis Healthcare
- RITES
- Trent
- United Bank of India
- United Breweries
- Adani Power
- Aditya Birla Fashion and Retail
- Advanced Enzyme Technologies
- Ajmera Realty
- Akzo Nobel
- Alkyl Amines Chemicals
- Birla Cable
- Dalmia Bharat
- E.I.D. Parry
- Endurance Technologies
- Esab India
- GlaxoSmithKline Consumer Healthcare
- GPT Infraprojects
- Gujarat Alkalies and Chemicals
- Gujarat Pipavav Port
- Hind Rectifiers
- Hindustan Construction Company
- ICRA
- IDFC
- Intellect Design Arena
- Johnson Controls
- Hitachi Air Conditioning
- LGB Forge
- LT Foods
- Magadh Sugar & Energy
- Minda Corporation
- Minda Industries
- Monte Carlo Fashions
- MphasiS
- OnMobile Global
- Rane Holdings
- Redington (India)
- Seamec
- Shivalik Rasayan
- Shyam Century Ferrous
- Sintex Industries
- Solara Active Pharma Sciences
- Star Cement
- TD Power Systems
- Usha Martin
- Vikas Proppant & Granite
- Indraprastha Gas
- Khadim India
- UCO Bank
- Federal-Mogul Goetze
Earnings Reaction To Watch
DLF (Q3, YoY)
- Revenue down 39.5 percent to Rs 1,342 crore
- Ebitda down 64.3 percent to Rs 237.6 crore
- Margin at 17 percent versus 28.8 percent
- Net profit up 23.5 percent to Rs 414 crore
- Exceptional gains of Rs 231 crore on sale of stake in wholly owned subsidiaries and joint ventures aided net profit.
HPCL (Q3, QoQ)
- Revenue up 16.2 percent to Rs 70,749.6 crore
- Net profit down 29 percent to Rs 747.2 crore
- Ebitda down 19.7 percent to Rs 1,867 crore
- Margin stood at 2.6 percent versus 3.8 percent
- Gross refining margin stood at $1.79 per barrel versus $2.83 per barrel
Gujarat Gas (Q3, QoQ)
- Revenue flat at Rs 2,506.2 crore
- Net profit fell 62 percent to Rs 196.5 crore
- Ebitda flat at Rs 370.6 crore
- Margin stood at 14.8 percent versus 14.8 percent
Cadila Healthcare (Q3, YoY)
- Revenue up 1.7 percent to Rs 3,638.1 crore
- Net profit down 26.8 percent to Rs 373.9 crore
- Ebitda fell 17.5 percent to Rs 693.2 crore
- Margin stood at 19.1 percent versus 23.5 percent
Ajanta Pharma (Q3, YoY)
- Revenue rose 34.2 percent to Rs 651.2 crore
- Net profit rose 60.8 percent to Rs 107.6 crore
- Ebitda rose 73.3 percent to Rs 186 crore
- Margin stood at 28.6 percent versus 22.13 percent
Divi's Laboratories (Q3, YoY)
- Revenue rose 2.7 percent to Rs 1,396.3 crore
- Net profit fell 7.8 percent to Rs 359.1 crore
- Ebitda fell 7.3 percent to Rs 494 crore
- Margin stood at 35.4 percent versus 39.2 percent
Indiabulls Housing Finance (Q3, YoY)
- Net interest income fell 50.9 percent to Rs 614.1 crore
- Net profit fell 43.8 percent to Rs 546.9 crore
Brigade Enterprises (Q3, YoY)
- Revenue fell 19.7 percent to Rs 552.3 crore
- Net profit rose 1 percent to Rs 49.3 crore
- Ebitda fell 11.5 percent to Rs 155.6 crore
- Margin stood at 28.2 percent
Engineers India (Q3, YoY)
- Revenue rose 53.7 percent to Rs 899.2 crore
- Net profit rose 19.4 percent to Rs 111.8 crore
- Ebitda fell 8.7 percent to Rs 89.8 crore
- Margin stood at 10 percent versus 16.8 percent
- Deferred tax reversal of Rs 10 crore in current quarter
Prataap Snacks (Q3, YoY)
- Revenue rose 17 percent to Rs 360.7 crore
- Net profit fell 32.1 percent to Rs 5.5 crore
- Ebitda fell 1.8 percent to Rs 21.8 crore
- Margins stood at 6 percent versus 7.2 percent
MPC Meet: ‘Temporary Pause’ In Rates May Extend Into Next Fiscal Year
- Oil extended gains in Asian trade as the potential for an OPEC+ production cut overshadowed an uptick in U.S. crude inventories.
- U.S. equities earlier closed at an all-time high. The S&P 500 Index’s three-day gain topped 3 percent, and the Nasdaq indexes added to records.
Get your daily fix of global markets here.
Source: Bloomberg
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