Sensex, Nifty end in green; banking shares top losers
Shares of Ujjivan Financial Services plunged after the company reported nearly 77% drop in Profit after tax on year-on-year basis. The company reported a PAT of Rs 43.9 crore during the quarter ended on December 31 as against Rs 188.3 crore during the same period last year.
On quarter-on-quarter basis, the net profit dropped by 40%. In the last quarter (Q2FY17), the company's net profit was Rs 73.01 crore.
At 1316 hours the shares of the company were trading at Rs 353.05 per piece, down 2.63% or Rs 9.55 on BSE.
Shares of D B Corp climbed up after the company reported 6% rise in net profit in Q3FY17. The company posted a net profit of Rs 118.6 crore in Q3FY17 as against Rs 111.4 crore during the same period last year.
At 1234 hours the shares of the company were trading at Rs 358.50 per piece, up 0.74% or Rs 2.65 on BSE.
Before the announcement of financial results for the quarter ended on December 31, the shares of Axis Bank, at 0930 hours were trading at Rs 484 per piece, down 0.89% or Rs 4.35.
While, the shares of Yes Bank, which will also announce quarterly results today, the shares of the bank were trading at Rs 1340 per piece, down 0.46% or Rs 6.25 on BSE.
On 30-share benchmark, among top gainers were Adani Ports (1.08%), Bharti Airtel (0.75%), ONGC (0.71%), NTPC (0.64%) and Reliance Industries (0.54%). Among losers were Axis Bank (-0.84%), HDFC (-0.71%), Tata Steel (-0.64%), Mahindra & Mahindra (-0.58%) and TCS (-0.39%).
Stocks in Focus: Axis Bank: Shares of Axis Bank will be in focus as the bank is set to announce its financial result for the quarter ended on December 31.
In the last quarter (Q2FY17), the bank had reported a drop of 83.3% in its net profit. The company posted a net profit of Rs 319.08 crore during the second quarter of the current fiscal as compared to Rs 1915.64 crore, during the same period last year.
Yes Bank: The private sector bank will be announcing its financial results for Q3FY17. In the last quarter (Q2FY17) the bank had eported standalone net profit of Rs 801.54 crore for the second quarter September 30, 2016 (Q2FY17), registering growth of 31.31% year-on-year (yoy) and 9.52% quarter-on-quarter (qoq).
Insurance companies: Insurance cos will be in focus as on Wednesday the cabinet had approved the listing of five public sector general insurance companies. The five companies are New India Assurance ,United India Insurance, Oriental Insurance, National Insurance & General Insurance.