The NSE Nifty 50 and BSE Sensex pared losses around noon. The benchmark indices were trading 0.06% and 0.13% lower, respectively, as of 12:03 p.m.
Steel Authority of India, Ircon International Ltd., Hindustan Aeronautics Ltd., Vodafone Idea Ltd., Lupin Ltd., and Bayer Cropscience Ltd. were in the news around noon.
SAIL
Shares of Steel Authority of India Ltd. advanced over 3% on Wednesday even after its net profit slipped 62% in the quarter ended Dec. 31, 2024, thereby missing analysts' estimates.
The steel manufacturing company's standalone bottom line came in at Rs 126 crore in the third quarter, as compared to Rs 331 crore in the year-ago period, according to an exchange filing on Tuesday.
SAIL's share price rose as much as 3.68% to Rs 103.7 apiece, the highest level since May. 22, 2024.
Ircon InternationalÂ
Shares of Ircon International Ltd. fell over 9% to hit an over one-month low on Wednesday after it reported a dip in net profit for the quarter ended Dec. 31, 2024. The 'navratna' public sector enterprise recorded a 64.89% fall in consolidated net profit at Rs 86 crore for the quarter ended December, compared to Rs 245 crore in the same quarter of the previous fiscal.
Shares of Ircon fell as much as 9.19% to Rs 163.33 apiece, the lowest level since Dec. 21, 2024.
HAL
Hindustan Aeronautics Ltd. saw its share price decline by over 4%, ahead of its third quarter earnings announcement, scheduled for Wednesday. The company, in a stock exchange filing on Jan. 27, confirmed it would release its October-December 2024 quarter results, following a board of directors meeting on Feb. 12.
Vodafone IdeaÂ
Vodafone Idea Ltd.'s shares fell over 5% on Wednesday, following the release of its third-quarter earnings report. The telecom giant reported a revenue increase of 1.7% to Rs 11,117.30 crore, which fell short of Bloomberg's estimate of Rs 11,363.30 crore.
LupinÂ
The share price of Lupin Ltd. fell over 3% on Wednesday despite a 39.5% jump in its net profit for the quarter ended December. The decline comes as Nifty fell below 23,000 support level. In addition, the stock was trading at a high volume.
Bayer CropscienceÂ
Bayer Cropscience Ltd.'s share price slumped on Wednesday as the company reported disappointing figures for third quarter. Net profit declined 63.3% on the year to Rs 34.2 crore versus Rs 93.1 crore.
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