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Sensex, Nifty end flat amid volatility; FMCG, metal stocks drag

Photo: Ramesh Pathania/MintPremium
Photo: Ramesh Pathania/Mint

  • Indian benchmark equity indices settled on a flat note on Friday in a choppy session, mainly dragged by losses in FMCG, metals and pharma stocks.

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12 Feb 2021, 03:43:24 PM IST

Market closing

Indian benchmark equity indices settled on a flat note on Friday in a choppy session, mainly dragged by losses in FMCG, metals and pharma stocks.

Sensex settled at 51,544.30, up 12.78 points or 0.02%, while Nifty slipped by 10 points or 0.07% at 15,163.30.

ICICI Bank, closing over 2% higher, was the top Sensex gainer, followed by Infosys, Axis Bank, HDFC and SBI. ITC, ONGC, Sun Pharma and Bharti Airtel were among the laggards. Of 30 Sensex shares, 20 closed in the red.

BSE Sensex
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BSE Sensex
12 Feb 2021, 03:15:16 PM IST

Metals, FMCG stocks drag

NSE Sectoral Indices
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NSE Sectoral Indices
12 Feb 2021, 03:04:12 PM IST

GIC Re reports net profit of ₹987crore in Q3 FY21

General Insurance Corporation of India (GIC Re) reported a net profit of 987.42 crore for the third quarter ended December 2020.

There was a loss of 1,069.64 crore in the year-ago period.

Sequentially, it had posted a net profit of 230.06 crore in the second quarter ended September 2020.

Gross premium during the October-December quarter increased to 11,668.51 crore, from 11,539.96 crore in the same period of 2019-20, GIC Re said in a regulatory filing.

12 Feb 2021, 02:54:52 PM IST

Bayer CropScience Q3 profit falls 34% to ₹106 crore

Bayer CropScience (BCSL) on Thursday reported a 34.18% decline in profit before exceptional items and tax (PBT) to 106.1 crore for the quarter ended December 2020.

Bayer CropScience's (BCSL) PBT stood at 161.2 crore during the same quarter of 2019-20, Bayer CropScience said in a statement.

12 Feb 2021, 02:36:54 PM IST

Power Grid Q3 profit up 26% at ₹3,368 crore

Power Grid Corporation on Thursday posted 26% rise in consolidated net profit at 3,367.71 crore for December quarter 2020-21 mainly on the back of higher revenues.

The net profit of the company was 2,672.03 crore in the year-ago period, a BSE filing said.

12 Feb 2021, 02:23:43 PM IST

NHPC Q3 net profit rises 50% to ₹961 crore

State-owned hydropower giant NHPC reported a 50% rise in its consolidated net profit to 961.64 crore for the December quarter. Its consolidated net profit was 639.13 crore in the quarter ended December 2019.

12 Feb 2021, 02:09:43 PM IST

ACC net profit jumps 73% to ₹472.4 crore in December quarter

Cement maker ACC Ltd reported a 72.88% jump in consolidated net profit to 472.44 crore for the fourth quarter ended 31 December 2020. The company, which follows the January-December financial year cycle, had posted a net profit of 273.28 crore in the corresponding quarter a year ago.

12 Feb 2021, 01:53:43 PM IST

Aviation stocks soar as government increases cap on airfare

Shares of two aviation firms -- SpiceJet and Interglobe Aviation -- rose on Friday as the civil aviation ministry raised fare caps for airlines by as much as 30% to offset the rise in fuel prices.

Shares of SpiceJet advanced 4.16% to 91.35, while Interglobe Aviation (IndiGo) rose 1.57% to 1652.65 on the BSE. The benchmark index, Sensex was 0.24% higher at over 51700.

12 Feb 2021, 01:40:22 PM IST

Petronet December quarter net up 30% on demand resurgence

Petronet LNG Ltd, India's largest gas importer, on Friday reported a 30% rise in its December quarter net profit as demand reached pre-covid levels.

The company's net profit in October-December 2020, stood at 878.47 crore, or 5.86 per share, compared with 675.18 crore, or 4.50 a share, in the same period a year back.

12 Feb 2021, 01:18:49 PM IST

Ashok Leyland shares correct after costs play spoilsport in Q3

After eight continuous quarters of de-growth, the MHCV (medium and heavy commercial vehicle) truck has registered a year-on-year (y-o-y) growth of 16% in Q3. The company reported strong truck volume growth that was twice the rate of the industry. In Q3 FY21, the firm’s trucks market share has therefore grown to 28.1% against 24.9% in Q3, FY ’21. Ashok Leyland's overall Q3 volumes grew by 7% y-o-y. (Full report)

12 Feb 2021, 12:53:54 PM IST

Infibeam shares extend gains

After rising nearly 10% on Thursday, shares of Infibeam Avenues extended gains in today's session. The company on Thursday reported a 27% rise in consolidated net profit at 14.99 crore for the three months ended December 2020. The company also announced issue of one bonus share for every one equity share held.

12 Feb 2021, 12:32:16 PM IST

Empire Industries December quarter net profit drops

  • December quarter net profit drops to 12.6 million versus 44 million year ago.
  • December quarter revenue from operations declined to 1.3 billion versus 1.6 billion year ago.

12 Feb 2021, 12:06:12 PM IST

Novartis India Q3 net loss at ₹71 lakh

Drug firm Novartis India on Thursday reported a net loss of 71 lakh for the quarter ended December 31, 2020.

The company had posted a net profit of 7.73 crore for the corresponding period of the previous fiscal, Novartis India said in a filing to BSE.

Revenue from operations of the company stood at 93.77 core for the quarter under consideration. It was 117.46 crore for the same period a year ago, it added.

12 Feb 2021, 11:39:27 AM IST

Strides receives US FDA approval for Prednisone Tablets

Strides Pharma Science Limited (Strides) has announced that its step-down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Prednisone Tablets USP, 10 mg and 20 mg from the US FDA.

Prednisone belongs to a class of drugs known as corticosteroids and is used as an anti-inflammatory or an immunosuppressant medication. It is used in treatment of different conditions such as allergic disorders, skin conditions, ulcerative colitis, arthritis, lupus, psoriasis, or breathing disorders.

12 Feb 2021, 11:20:14 AM IST

Ashok Leyland reports net loss of ₹19 crore in Q3

Commercial vehicle maker Ashok Leyland reported a net loss of 19 crore for the third quarter ended December 31, 2020. The company had reported a net profit of 28 crore in October-December quarter of 2019-20.

12 Feb 2021, 11:04:00 AM IST

With rising competition, Berger Paints remains a question of valuations

Berger's management is upbeat on the demand outlook. In a post-earnings conference call, the management said, volume growth was led by a combination of fresh and pent-up demand largely from smaller cities and towns. So far in Q4, the demand momentum seems to have sustained, so the overall growth in the March quarter is likely to be strong and will also benefit from a low base due to the covid-induced lockdown, the management added. Given the demand revival, the company has also accelerated its capacity expansion in UP, which is likely to be ready by the beginning of the calendar year 2022. (Full report)

12 Feb 2021, 10:53:58 AM IST

Sun Pharma settles case of alleged market norms violation with Sebi

The pharma company and its senior officials, including Managing Director Dilip Shanghvi, have settled with regulator Sebi a case pertaining to alleged violation of listing obligation and disclosure requirements norms.

12 Feb 2021, 10:30:03 AM IST

Infosys, ICICI Bank top Sensex contributors

Sensex contributors
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Sensex contributors
12 Feb 2021, 10:12:28 AM IST

Market outlook

"The markets have opened on a tepid note this morning, unclear in its direction for the day. Sometimes traders do not wish to carry a lot of open positions over the weekend. However the trend of the Nifty is positive and all dips can continue to be utilised as buying opportunities. The index still has steam to conquer levels closer to 15500. 14500-14600 is a good support band for the Nifty and as long as that holds, we are in comfortable territory," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

12 Feb 2021, 09:52:05 AM IST

ITC posts ₹3,587 crore net profit for Dec quarter

ITC Ltd on Thursday reported a consolidated net profit of 3,587.20 crore for the third quarter ended December 31.

The company had posted a net profit of 4,047.87 crore during the October-December quarter of the previous financial year, ITC said in a regulatory filing.

Its revenue from operations during October-December 2020 stood at 14,124.48 crore. It was 13,307.54 crore in the year-ago period.

12 Feb 2021, 09:37:29 AM IST

Infosys to invest $1 million in ideaForge Technology

IT services major Infosys on Thursday said it will invest an additional $1 million (about 7.2 crore) in ideaForge Technology, a UAV systems manufacturing company. "The company has agreed with ideaForge invest an additional USD 1 million (earlier, the company had invested USD 1.5 million in 2016) taking the cumulative investment to USD 2.5 million as of date, subject to necessary closing conditions," Infosys said in a regulatory filing.

12 Feb 2021, 09:28:26 AM IST

IT stocks rally, metals under pressure

Sectoral Indices
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Sectoral Indices
12 Feb 2021, 09:16:37 AM IST

Market opening

Indian benchmark equity indices opened marginally higher on Friday amid mixed cues from global peers. Sensex opened at 51,614.77, up 83.25 points or 0.16%, while Nifty added 12.90 points or 0.09% at 15,186.20.

Power Grid, up over 2%, was the top Sensex gainer followed by Sun Pharma, Asian Paints and Infosys. Axis Bank, ONGC, TCS and ITC were among the laggards. Of 30 Sensex shares, 23 opened in the green.

BSE Sensex
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BSE Sensex
12 Feb 2021, 09:07:28 AM IST

Market pre-opening

Indian stocks traded flat in the pre-opening session on Friday. At 9:04am, Sensex was at 51,547.20, up 15.68 points or 0.03%, while Nifty was up 6.26 points or 0.04% at 15,179.55.

12 Feb 2021, 08:45:19 AM IST

Markets at close on Thursday

Equity benchmarks reversed their two-session slide to finish at fresh closing highs on Thursday, propelled by robust gains in market heavyweight Reliance Industries.

Overcoming bouts of mid-session volatility, the 30-share BSE index settled 222.13 points or 0.43% higher at its new closing peak of 51,531.52.

In similar movement, the broader NSE Nifty advanced 66.80 points or 0.44% to its all-time high of 15,173.30.

12 Feb 2021, 08:42:06 AM IST

Asian shares stuck in holiday lull

Asian shares hovered just below a record high on Friday as mixed US economic data caused some investors to show restraint after a global stock market rally pushed many bourses to dizzying heights.

Markets in Greater China and most of Southeast Asia are closed on Friday for the Lunar New Year holiday. China's stock and bond markets, foreign exchange and commodity futures markets are closed through Feb. 17 for the holiday.

Japan’s Topix index was little changed.

Australia’s S&P/ASX 200 Index fell 0.4%.

Singapore's SGX Nifty slipped 0.23%.

12 Feb 2021, 08:42:07 AM IST

Nasdaq gains on tech stocks, hopes for more stimulus

The Nasdaq eked out a modest gain on Thursday with investors betting on more fiscal stimulus, but US President Joe Biden said China was poised to "eat our lunch," a warning that tempered investor enthusiasm for a market near record highs. The Dow Jones Industrial Average rose 2.54 points, or 0.01%, to 31,440.34, the S&P 500 gained 8.03 points, or 0.21%, to 3,917.91 and the Nasdaq Composite added 57.55 points, or 0.41%, to 14,030.09.

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