Indian equity market ended lower on Wednesday snapping a four-day rally amid a mixed trend in global equity markets. Despite a positive start, Sensex erased all the gains and closed 215.26 points or 0.35 per cent lower at 60,906.09. During the day, the index slipped 326.96 points or 0.53 per cent to 60,794.39. Nifty fell 62.55 points or 0.34 per cent to settle at 18,082.85.
Bharti Airtel (3.05 per cent) , Maruti (2.40 %), Hindustan Unilever (1.31 percent), Infosys (1.29 %) and HCL Technologies (1.26 %) were among the top Sensex losers. Sun Pharma (1.81 percent), ITC (1.43%), Tech Mahindra (0.94%) , Dr Reddy’s (0.35% ) and Reliance Industries (0.62 %) were among the top gainers.
Here’s a look at stocks that are likely to remain in news today.
Earnings today: HDFC, Adani Enterprises, Hindustan Petroleum Corporation, Coromandel International, Vodafone Idea, Bank of India and Devyani International are among the companies that will announce their results for September 2022 quarter today.
Relaxo Footwears: The footwear manufacturer logged a fall of 67.38 per cent in its net profit at Rs 22.40 crore for the second quarter ended September 2022 on account of volume decline and high raw material prices. It had posted a net profit of Rs 68.69 crore in the July-September quarter a year ago fiscal.
Mahindra & Mahindra Financial Services: The NBFC player reported over 55 per cent decline in its net profit at Rs 492 crore in the quarter ended September 2022 agaisnt net profit of Rs 1,103 crore in the year ago quarter.
Adani Transmission: The Adani Group firm reported a 32 per cent fall in its consolidated net profit at Rs 194 crore in September quarter compared to year ago, mainly due to adverse forex movement adjustment. The company said that in the second quarter of FY23, consolidated PAT of Rs 194 crore was lower year on year.
Dalmia Bharat: The cement maker profit fell 76.84 per cent to Rs 47 crore for the quarter ended September against a net profit of Rs 203 crore during the July-September quarter a year ago.
Jindal Stainless: The metal company has logged a significant 63 per cent fall in consolidated profit at Rs 151.84 crore for the quarter ended September FY23, impacted by higher inventory, power & fuel cost, and other expenses.
JK Paper: The firm reported more than two-fold increase in consolidated net profit at Rs 326.93 crore in the second quarter of FY23, helped by higher sales volume and enhanced sales realisation. The company had logged a net profit of Rs 118.38 crore in the July-September period a year ago.
Nelcast: The Tata Group arm logged a 262 per cent rise in consolidated profit at Rs 12.15 crore in Q2 supported by topline as well as operating performance. Revenue at Rs 328.52 crore for the quarter increased 37.4 per cent compared to the year-ago period.
MTAR Technologies: The defence company has logged a 30 per cent rise in consolidated profit at Rs 24.7 crore in Q2, driven by top line. Revenue rose 38.2 per cent to Rs 126.2 crore compared to the year-ago period.
EIH: The hospitality firm, which runs hotels and resorts under Oberoi and Trident brands reported a consolidated net profit of Rs 26.48 crore for the second quarter ended September. The company logged a loss of Rs 34.22 crore in the corresponding year-ago period.
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Also Read: Stocks in news: Tech Mahindra, Infosys, Axis Bank, Adani Ports and more