Key benchmark indices were trading near the day's high in morning trade, supported by positive global cues. The Nifty regained the crucial 12,000 level. At 10:27 IST, the S&P BSE Sensex, was up 196.55 points or 0.48% at 40,985.93. The Nifty 50 index was up 62.5 points or 0.52% at 12,042.15.
The broader market rallied. The S&P BSE Mid-Cap index was up 1.56% while the S&P BSE Small-Cap index was up 0.86%.
The market breadth was titled in the favour of bulls. On the BSE, 1223 shares rose and 614 shares fell. A total of 111 shares were unchanged. In Nifty 50 index, 31 stocks advanced while 19 stocks declined.
Q3 Earnings:
Cipla (down 0.45%) will announce its Q3 2019 earnings today.
HPCL (up 1.96%), Berger Paints India (up 1.13%), DLF (up 2.2%), Brigade Enterprises (up 1.2%), Adani Gas (up 2.26%), Adani Enterprises (up 0.51%), Ajanta Pharma (up 1.91%), Indiabulls Housing Finance (up 2.04%), Apollo Tyres (up 0.31%), Bosch (up 2.1%), Cadila Healthcare (up 2.25%), Caplin Point Laboratories (down 1.56%), Divi's Laboratories (up 1.14%), Engineers India (up 0.49%), Godrej Agrovet (up 0.81%), Gravita India (up 3.22%), Hikal (up 1.56%), Kaveri Seeds (up 1.59%), Greaves Cotton (up 0.57%), Gujarat Gas (up 2.31%), Jyothy Labs (up 0.72%), Max Financial Services (down 0.38%), Quick Heal Tech (up 1.76%), PNC Infratech (up 3.84%), Shalimar Paints (down 1.23%), Nirlon (down 1.57%), V-Mart Retail (up 5.52%), Sundaram Clayton (down 0.56%), NIIT (down 0.4%) and GE Power India (up 1.11%) are some of the companies that will announce their Q3 earnings today.
Q3 Results Impact:
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Grindwell Norton was up 0.71%. The company's consolidated net profit grew 12.2% to Rs 46.28 crore in Q3 December 2019 over Q3 December 2018. Net sales inched 4.9% higher to Rs 406.68 crore in Q3 December 2019 over Q3 December 2018.
TVS Motor Company surged 3.45%. The two wheeler manufacturer's consolidated net profit declined 26.1% to Rs 150.61 crore in Q3 December 2019 from Rs 203.91 crore in Q3 December 2018. Profit before tax (PBT) stood at Rs 201.28 crore in Q3 December 2019, down by 30.4% from Rs 289.40 crore in Q3 December 2018. Net sales recorded a 7% fall in the December quarter to Rs 4765.99 crore as compared to Rs 5122.61 crore reported in the same period last year.
Avanti Feeds tumbled 10.51% to Rs 598.15 after the shrimp feed manufacturer reported a dismal Q3 2019 result. On a consolidated basis, net profit slumped 35% to Rs 47.85 crore in Q3 December 2019 as against Rs 73.57 crore reported in Q3 December 2018. Net sales rose 10.5% to Rs 922.69 crore on YoY basis.
Praj Industries declined 3.76% after the construction major reported weak Q3 2019 numbers. On a consolidated basis, Praj Industries net profit declined 7.85% to Rs 20.67 crore in Q3 December 2019 as against Rs 22.43 crore reported in Q3 December 2018. Consolidated net sales fell 9.07% to Rs 300.34 crore in Q3 December 2019 over Q3 December 2018.
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