Key benchmark indices edged lower in early trade on lack of global cues. At 9:19 IST, the barometer index, the S&P BSE Sensex was down 33.74 points or 0.11% at 31,075.54. The Nifty 50 index declined 16.30 points or 0.17% at 9,588.60.
The S&P BSE Mid-Cap index was down 0.63%. The S&P BSE Small-Cap index declined 0.68%. The decline for both the indices was higher than the Sensex's decline in percentage terms.
Overseas, Asian stocks witnessed a mixed trend. Markets in Hong Kong and China were closed for a public holiday. US stock markets were shut yesterday, 29 May 2017 for Memorial Day holiday.
Closer home, the breadth, indicating the overall health of the market, was weak. On the BSE, 908 shares declined and 417 shares rose. A total of 43 shares were unchanged.
L&T rose 0.89% after consolidated net profit rose 29.5% to Rs 3025 crore on 12% increase in gross revenue to Rs 36828 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 29 May 2017.
L&T said it successfully won fresh orders worth Rs 142995 crore at the group level during the year ended 31 March 2017 in the face of a challenging business environment. The International orders during the year at Rs 41507 crore constituted 29% of the total order inflow. Order wins in infrastructure segment, hydrocarbon and heavy engineering segments contributed to the order flow during the year.
The order intake for the quarter ended 31 March 2017 at Rs 47289 crore grew by 9.6% year-on-year (y-o-y). International order inflow during the quarter at Rs 9044 crore constituted 19% of the order inflow for the quarter.
Also Read
Consolidated order book of the group stood at Rs 261341 crore as at 31 March 2017, higher by 5% on a y-o-y basis. International order book constituted 27% of the total order book.
Meanwhile, the company's board recommended issuing 1:2 bonus issue of equity shares. Subject to shareholders' approval, bonus shares will be credited to shareholders on or before 28 July 2017.
Coal India fell 1.83% at Rs 262.75 after consolidated net profit fell 38.2% to Rs 2716.09 crore on 8.3% increase in net sales to Rs 23171.58 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 29 May 2017.
Aurobindo Pharma rose 5.6% at Rs 542.45. The company's consolidated net profit fell 4.01% to Rs 532.22 crore on 2.64% decline in total income to Rs 3682.41 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 29 May 2017.
Power Grid Corporation of India (PGCIL) was down 0.7% at Rs 207. The company's net profit rose 22.17% to Rs 1916.36 crore on 17.87% growth in total income to Rs 7054.45 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 29 May 2017.
BPCL's net profit fell 13% to Rs 1841.68 crore on 31% growth in net sales to Rs 57036.48 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 29 May 2017.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content