Key benchmark indices reversed trend after hitting a fresh intraday high in morning trade. The Nifty traded tad above the 12,100 mark. Investors continued to be wary about the fast-spreading coronavirus, which started in the China's Wuhan city. Investors also remained cautious ahead of the Union Budget on Saturday, 1 February.
At 10:25 IST, the S&P BSE Sensex, was up 2.9 points or 0.01% at 41,158.02. The index hit the day's high of 41,333.25 in morning trade.
The Nifty 50 index was down 5.95 points or 0.05% at 12,113.05 after hitting the day's high of 12,163.55 in morning trade.
The broader market traded with mixed sentiment. The S&P BSE Mid-Cap index was down 0.15% while the S&P BSE Small-Cap index was up 0.18%.
The market breadth was positive. On the BSE, 938 shares rose and 821 shares fell. A total of 109 shares were unchanged. In Nifty 50 index, 17 stocks advanced while 33 stocks declined.
Q3 Earnings:
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Maruti Suzuki India was up 0.45% after the car major on Monday, 27 January, announced a price change for select models owing to increase in input costs. The auto maker said that the price change varies across models and ranges from 0% to 4.7% (ex-showroom - Delhi). The new prices are effective from 27 January 2020.
Maruti Suzuki India will announce Q3 results later today.
Infibeam Avenues (up 4.84%), Spandana Sphoorty Financial (up 3.44%), Acrysil (up 3.66%), Subros (up 1.41%), Tata Coffee (up 1.18%), KRBL (up 1.14%), Manappuram Finance (up 0.87%), JK Lakshmi Cement (up 0.86%), Century Textiles & Industries (up 0.62%), WABCO India (up 0.21%), Central Bank of India (down 1.49%), M&M Financial Services (down 1.46%), Cummins India (up 0.01%), Mastek (down 0.85%), Orient Electric (up 0.86%), Ramco Systems (down 0.14%), Sagar Cements (up 0.86%), Sequent Scientific (up 0.01%) and Swaraj Engines (up 0.16%) will announce their Q3 December 2019 results today.
Q3 Results:
United Spirits jumped 4.9% to Rs 604 after the company announced robust Q3 numbers after market hours on Monday, 27 January 2020. On consolidated basis, United Spirits' net profit rose 15.3% to Rs 235.30 crore in Q3 December 2019 (Q3 FY20) as against net profit of Rs 202.99 in Q3 December 2018 (Q3 FY19). Profit before tax (PBT) for Q3 December 2019 stood at Rs 314 crore, up by 8.2% against Rs 290.30 crore in Q3 December 2018. Tax expenses declined 26.2% to Rs 94.90 crore in Q3 FY20 from Rs 128.60 crore in Q3 FY19.
Torrent Pharmaceuticals fell 3.66% to Rs 1952.65 after the company announced its third quarter earnings after market hours yesterday. The company's consolidated net profit rose 2% to Rs 251 crore in Q3 December 2019 from Rs 246 crore in Q3 December 2018. Adjusted for one-time impact of patent related settlement and litigation cost in December 2018 quarter, net profit is up by 17%. Profit before tax (PBT) stood at Rs 319 crore in Q3 December 2019, up by 16% from Rs 275 crore in Q3 December 2018. Net sales declined by 1.2% to Rs 1924 crore in Q3 December 2019 from Rs 1948 crore in Q3 December 2018.
Navin Fluorine International jumped 5.57% to Rs 1165.50 after the chemical company announced a stellar Q3 result after market hours yesterday. On consolidated basis, net profit rose 17.5% to Rs 45.42 crore on an 11.4% rise to Rs 260.50 crore in Q3 December 2019 over Q3 December 2108.
Music Broadcast declined 0.72% to Rs 27.75 after the company announced a dismal Q3 December 2019 results. On a standalone basis, net profit declined 38% to Rs 10.18 crore on a 20% decline in net sales to Rs 69.64 crore in Q3 December 2019 as against Q3 December 2018.
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