Sensex, Nifty end 1% up; Bank stocks top gainer
Sensex, Nifty end 1% up; Bank stocks top gainer
Live updates of Asian shares, BSE Sensex and NSE Nifty. Top stocks, stocks in focus, top gainers and top gainers of the day.
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Sensex on Tuesday closed at 27,375.58, up 258.24 points or 0.95%, while, Nifty ended at 8,475.80, up 84.30 points or 1%.
At 1438 Sensex was trading at 27,361.71, up 244.37 points or 0.90%, while Nifty was at 8,469.30, up 77.80 points or 0.93%
Shares of HDFC Bank surged after the bank announced 15% rise in Q3FY17. The bank posted a net profit of Rs 3,865.33 crore as against Rs 3,356.8 crore during the same period last year.
At 1247 hours the shares of the bank were trading at Rs 1256.40 per piece, up 0.93% or Rs 11.60 on BSE.
Shares of Karnataka Bank plunged nearly 6% after the company on Monday reported 29.30% drop in net profit to Rs 68.52 crore during the quarter ended on December 31.
At 1159 hours the shares of the bank were trading at Rs 112.90 per piece, down 5.76% or Rs 6.65 on BSE.
Shares of Ajanta Pharma dipped 4% after a media report which said that the company has got import alert from USFDA for its Paithan unit at Aurangabad. Soon, the exchange sought clarification from the company.
Replying to the exchange, the company clarified that it has 'not' received any such import alert and it will continue to supply to US market.
At 1105 hours the shares of the company were trading at Rs 1712 per piece, down 4.02% or Rs 71.65 on BSE.
Shares of Hindustan Unilever plunged 2% after the company reported just 7% rise in net profit during the quarter ended on December 31. The company posted a net profit of Rs 1038 crore, a rise of 7% in Q3FY17 as against Rs 971.6 crore during the same period last year.
In a regulatory filing the company said that during the quarter, the squeeze in liquidity resulted in reduced trade pipelines and lower consumer offtakes.
At 1049 hours the shares of the company were trading at Rs 845.50 per piece, down 2.06% or Rs 17.75 on BSE.
At 1030 hours, on 30-share benchmark, among top gainers were Coal India (2.06%), Adani Ports (1.62%), HDFC (1.45%), Power Grid (1.27%) and Larsen & Toubro (1.22%). Among losers were Hindustan Unilever (-1.71%), Bharti Airtel (-1.25%), Infosys (-1.06%) and Tata Consultancy Services (-0.13%).
Shares of Tata Communications surged over 4% after the company reported robust growth during the financial quarter ended on December 31. The company posted a net profit of Rs 1,413 crore, a jump of 1,176%, as against Rs 110.74 crore during the same period last year.
At 1012 hours the shares of the company were trading at Rs 702.70 per piece, up 4.52% or Rs 30.40 on BSE.
Shares of Sun Pharmaceutical Industries rose by nearly 1% after the company clarified to the exchange that it "continues to evaluate its global operational footprint on an ongoing basis and the exchange will be informed in case of any material developments."
On Monday, the exchange had sought clarification on the media report which said, "Sun Pharma to sell OHM labs site at New Jersey at $100M".
At 0941 hours the shares of the company were trading at Rs 639 per piece, up 0.85% or Rs 5.40 on BSE.
Bharti Airtel is set to announce its financial result for the quarter ended on December 31. Ahead of Q3 earnings, the shares of the company dropped by 1% during morning trade.
At 0933 hours the shares of the company were trading at Rs 316.25 per piece, down 0.99% or Rs 3.15 on BSE. In the previous quarter, the bank had reported 5% drop in net profit to Rs 1,460.7 crore.
HDFC Bank shares trade positive ahead of its financial result announcement. In the previous quareter which eneded on September 30, the bank had recorded a net profit of Rs 3455.33 crore.
At 0931 hours the shares of the bank were trading at Rs 1,254.30 per piece, up 0.76% or Rs 9.50 on BSE.
Shares of HCL Technologies dropped during early morning trade after the company revised its FY17 guidance while announcing financial result for the quarter ended on December 31, on Tuesday. The company reported a net profit of Rs 2,070 crore up by 7.8% on year-on-year basis. On quarterly basis, the net income rose by 2.8%.
At 0926 hours the shares of the company were trading at Rs 835.20 per piece, down 2.56% or Rs 21.95.
Domestic markets on Tuesday opened flat. At 0917 hours, Sensex was trading at 27,188.71, up 71.37 points or 0.26%, while, Nifty was at 8,406.20, up 14.70 points or 0.18%.
Stocks in focus:
Quess Corp: Before the opening of the market, the company on Tuesday announced its financial results for the quarter ended on December 31. The company reported 79.4% rise in Q3 net profit to Rs 31 crore as against Rs 17 crore in Q3FY16.
HCL Technologies: IT major announced its financial resutls early morning on Tuesday. The company reported a net profit of Rs 2,070 crore up by 7.8% on year-on-year basis. On quarterly basis, the net income rose by 2.8%.
However, despite beating the estimates, the company revised its FY17 guidance to 10-12% than earlier estimates of 12-14%.
MOIL: On Monday, government of India had decided to sell 10% stake in Moil – a state-owned manganese ore mining company. A PTI report said that government will divest 10% stake in MOIL through offer for sale (OFS) at a floor price of Rs 365 a piece on Tuesday.
Bharti Infratel: Mobile tower company Bharti Infratel on Monday reported 25% increase in consolidated net profit to Rs 620 crore for the December quarter of the current fiscal. It had posted net profit of Rs 495 crore in the same period of last fiscal, 2015-16.
Quarterly result announcement: Bharti Airtel, HDFC Bank, Biocon, ICICI Prudential Life Insurance, IDBI bank, Kotak Bank, Tata Sponge, TVS Motor, Wockhardt.
During pre-open market session, Sensex was trading at 27,162.15, up 44.81 points or 0.18%, while, Nifty was trading at 8,411, up 19.50 points or 0.23%.
MSCI`s broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent but Tokyo`s Nikkei slipped 0.3 percent.
Domestic markets likely to open in the range of flat to positve note. On Monday, Sensex closed at 27,117.34, up 82.84 points or 0.31%, while, Nifty ended at 8,391.50, up 42.15 points or 0.50%.
On the global front, the dollar was under pressure in Asia as US President Donald Trump`s focus on trade protectionism fuelled suspicions his administration might seek a competitive advantage through a weaker currency, a Reuters report said.
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