Market ended lower on Thursday following heavy selling in banking, finance, and capital goods stocks due to inflation and growth concerns. Sensex fell 390.58 points to end at 57,235.33 and Nifty closed 109.25 points lower at 17,014.35. Market breadth was negative with 1,246 stocks ending higher against 2,203 stocks falling on BSE. Around 113 shares were unchanged.┬а
Here’s a list of stocks that are likely to remain in news today.┬а
Bulls vs Bears: Here’s what to expect on Dalal Street today and more
Bajaj Auto, Shree Cement, Tata Elxsi, Oberoi Realty, Federal Bank, Just Dial, Spandana Sphoorty Financial, PLastiblends India, Moneyboxx Finance, Amal and Kshitij Polyline are among the firms which will report their Q2 earnings today.┬а
Infosys: India’s second largest IT services company posted better-than-expected 11 per cent rise in consolidated net profit at Rs 6,021 crore for the September quarter and announced buyback of shares worth Rs 9,300 crore. Infosys board has also declared an interim dividend of Rs 16.50 per share.
HDFC Life Insurance: The insurance sector regulator IRDAI has given final approval to HDFC Life Insurance Company (HDFC Life) to merge Exide Life into the company. In January this year, HDFC Life acquired 100 per cent stake in Exide Life Insurance Company from its parent firm Exide Industries from for Rs 6,687 crore.
Bandhan Bank: The private lender said it will diversify its asset base by increasing exposure to secured loans to 70 per cent by 2025. The bank will also diversify its geographical presence.
MTNL: The state-owned telecom player’s shareholders have cleared a proposal to raise up to Rs 17,571 crore through government-guaranteed debt bonds on private placement basis. Shareholders of the loss-making public sector telecom firm have also enhanced power of the board to borrow up to Rs 35,000 crore.
BHEL: The heavy electricals player inked an agreement with Coal India and NLC India for setting up coal gasification based plants in the country. BHEL and CIL (Coal India) will jointly set up coal gasification based plants under the agreement. Apart from this, NLCIL will establish a lignite-based gasification pilot plant.
Anand Rathi Wealth: The non-bank wealth solutions company reported a 41 per cent rise in profit after tax at Rs 43 crore for three months ended September 2022. The company had posted a PAT of Rs 30.4 crore in the same quarter preceding fiscal.
MindTree: The IT company reported a 27.5 per cent year-on-year rise in its consolidated net profit to Rs 508.7 crore in Q2. The net profit was about 8 per cent higher than June quarter. Q2 revenue came in at about Rs 3,400.4 crore, growing 8.9 per cent over the previous sequential quarter and 31.5 per cent on year.
Chemcon Speciality Chemicals: The company has purchased land in Vadodara for its business operations. The total cost of land acquisition is Rs 22.3 crore. These are related party transactions.
Power Mech Projects: The company has won a Letter of Award worth Rs 499.41 crore from Bangalore Metro Rail Corporation. This project has been received by the company in a 49:51 joint venture with RITES.
Den Networks: The digital cable TV service provider logged a 27.7% year-on-year growth in consolidated profit at Rs 48.12 crore for the quarter ended September FY23 due to lower tax expenses and loss by associates, but revenue declined 11.6% to Rs 287.3 crore during the same period.
