Stock Market Today: Sensex, Nifty End At A Nine-Week High As I.T., Realty Stocks Lead

• Revenue down 3% at Rs 1,381 crore Vs Rs 1,425 crore (BBG estimate : Rs 1,517 crore)

• Net profit down 55% to Rs 103 crore Vs Rs 231 crore (BBG estimate : Rs 211 crore Profit)

• EBITDA down 28% to Rs 286 crore from Rs 397 crore (BBG estimate : Rs 373 crore Profit)

• Margins at 20.7% Vs 27.8% (BBG estimate : 24.6%)

Source: Exchange filing

• Revenue down 3% at Rs 2,153.90 crore vs Rs 2,227.09 crore (BBG Estimate: Rs 3,150.7 crore)

• Ebitda up 9% at Rs 663.23 crore vs Rs 605.79 crore (BBG Estimate: Rs 260.1 crore)

• Ebitda margin at 30.8% versus 27.2% (BBG Estimate: 8.3%)

• Net profit up 152% of Rs 128.99 crore vs Rs 51.25 crore (BBG Estimate: Rs 116.1 crore)

• Dividend announced at Rs 0.10 per share

• Approved buyback of Rs 120 per share aggregating to Rs 195 crore via tender offer.

Source: Exchange filing

The broader market indices outperformed larger peers; S&P BSE MidCap Index was up by 0.47%, whereas S&P BSE SmallCap Index was higher by 0.57%.

Eighteen out of the 20 sectors compiled by BSE advanced, while S&P BSE Utilities and S&P BSE Power advanced in trade.

The market breadth was skewed in the favour of the buyers. About 1,962 stocks rose 1,313 declined, and 154 remained unchanged on the BSE.

• As part of the pan-India distribution pact, Udaan will make available Reliance Consumer's beverage brand 'Campa' to over 50,000 kirana stores initially. This distribution coverage will gradually expand to over 1 lakh retailers in two months.

• Three new Campa flavours - Cola, Orange, and Clear Lime - to be available under various consumption ranges and price points on the udaan platform.

• Udaan will also work on several retailer promotions to drive penetration.

Source: Udaan statement

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The broader market indices outperformed larger peers; S&P BSE MidCap Index was up by 0.18%, whereas S&P BSE SmallCap Index was higher by 0.48%.

Seven out of the 10 sectors compiled by BSE declined, while 12 advanced in trade.

The market breadth was skewed in the favour of the buyers. About 1,581 stocks rose 686 declined, and 104 remained unchanged on the BSE.

Source: BSE

At pre-open, the S&P BSE Sensex Index was up 15 points or 0.02% at 60,315.56 while the NSE Nifty 50 Index was lower by 0.5 points or 0% at 17,813.10.

Source: Bloomberg

• The yield on the 10-year bond opened flat at 7.11% on Thursday.

Source: Bloomberg

• The local currency appreciated by 6 paise to open at 81.71 against the greenback on Thursday.

• It closed at 81.77 on Wednesday.

Source: Bloomberg

• It will issue secured, redeemable, non-convertible debentures on private placement basis to ESOF III Investment Fund managed by Edelweiss Alternate Asset Advisors Ltd. and EAAA.

• Return profile is linked to Biocon Biologics' share price subject to minimum IRR of 12%.

• Biocon will use the proceeds to invest as optionally convertible debenture in unit Biocon Biologics.

Source: Exchange filing

• Coforge sees constant currency revenue growth of 13-16% in FY24.

• Coforge expects a gross margin increase of about 50 bps.

• Adjusted Ebitda margin to be at similar levels as FY23.

Source: Exchange filing

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