Sensex down 369 points; ICICI Bank, Yes Bank fall sharply2 min read . Updated: 28 Jan 2019, 03:41 PM IST
- Zee Entertainment shares rebound
- Most Asian markets traded higher today
Indian stock markets extended losses as the session progressed. In early noon trade, Sensex was down nearly 300 points at 35,742 while Nifty was off 100 points at 10,685. Sensex closed the day at 35,656.70, down 369 points. Pharma, metal, banking and auto stocks were under pressure. Among the Sensex 30 pack, ICICI Bank, Yes Bank were down nearly 4% while Bajaj Auto, SBI, Bajaj Finance and Sun Pharma declined over 2%.
Piramal Enterprises on Monday reported 23 per cent rise in consolidated net profit at ₹603.27 crore for December quarter 2018, mainly on account of strong performance in financial services and pharma businesses.
The company had posted a net profit of ₹490.47 crore in October-December 2017, Piramal Enterprises said in a filing to BSE.
Consolidated revenue from operations stood at ₹3,489.08 crore in the reported quarter as against ₹2,858.36 crore in the same period a year ago.
Godrej Properties Monday reported a consolidated net profit of ₹41.63 crore for the third quarter of 2018-19 on higher sales.
It had posted a net loss of ₹54.75 crore in October-December 2017, the company said in a regulatory filing. Total income rose to ₹430.70 crore in the reported quarter from ₹308.29 crore in the year-ago period.
Shares of Zee Entertainment Enterprises bounced back Monday surging 12 per cent, after it denied links with a company being probed by the SFIO for suspicious demonetisation deposits.
Read the full story: Zee Entertainment shares zoom 12% but other group firms' erode further
Some Adani Group stocks fell sharply today. Adani Power fell 10%, Adani Ports was down 8% while Adani Gas and Adani Green fell 8% each.
ICICI Bank shares fall 4% in early noon trade. The bank will announce its December quarter earnings on 30 January. According to Bloomberg analyst estimates, the bank may report a profit of ₹1965.20 crore.
Shares of graphite electrode manufacturers, Graphite India and HEG, are down sharply in early trade. Both the stocks are down over 30% so far this year. (Read: Why Graphite India, HEG share prices are falling)
Larsen & Toubro Ltd rose 2% to ₹1,313 after the company said its profit rose for the 12th straight quarter on the back of higher other income. Net profit rose 37% year-on-year to ₹ ₹2,042 crore in the three months ended December, India’s largest construction and engineering company said in an exchange filing today. That compares with the ₹1,900-crore consensus estimate of analysts tracked by Bloomberg.
Zee Entertainment Enterprises Ltd shares rose 12% to ₹352, Zee Learn Ltd gained 6%, Zee Media Corp advanced 2%, Essel Propack Ltd jumped 9%, and Dish TV India Ltd rose 6%. Subhash Chandra-promoted two Essel group companies Zee Entertainment Enterprise and Dish TV on Sunday denied links with Nityank lnfrapower and Multiventures Ltd, a company being probed by the SFIO for suspicious demonetisation deposits, as claimed in a media report. Zee Entertainment Enterprise Ltd (ZEEL), in a regulatory filing, said Nityank lnfrapower and Multiventures Ltd is an "independent company and does not belong to Essel Group".
Coffee Day Enterprises has said it would take required action in the next few days to get a portion of IT firm Mindtree shares - owned by the company and its promoter V G Siddhartha - released by the Income Tax Department.
The I-T department has attached a portion of shares held by Siddhartha and Coffee Day Enterprises Ltd in IT firm Mindtree over a potential tax demand.