At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 373.52 points or 0.52% to 71,221.97. The Nifty 50 index lost 111.40 points or 0.51% to 21,671.10.
In the broader market, the S&P BSE Mid-Cap index declined 1.41% and the S&P BSE Small-Cap index slipped 1.96%.
The market breadth was weak. On the BSE, 1,045 shares rose and 2,632 shares fell. A total of 164 shares were unchanged.
New Listing:
Shares of Apeejay Surrendra Park Hotels were currently trading at Rs 173 at 10:28 IST on the BSE, representing a premium of 11.61% as compared with the issue price of Rs 155.
The scrip was listed at Rs 187, exhibiting a premium of 20.65% to the issue price. So far, the stock has hit a high of 188.90 and a low of 170.15. On the BSE, over 17.90 lakh shares of the company were traded in the counter so far.
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Earnings Today:
Coal India (down 3.72%), Bharat Forge (down 0.10%), Allcargo Logistics (down 2.34%), Anupam Rasayan India (down 4.66%), BLS E-Services (down 4.09%), Cera Sanitaryware (down 0.90%), Dilip Buildcon (down 4.94%), GSK Pharmaceuticals (up 0.42%), Hindustan Aeronautics (down 1.55%), HEG (down 2.07%), Krsnaa Diagnostics (down 1.68%), Mazagon Dock Shipbuilders (down 2.99%), Samvardhana Motherson International (down 1.53%), NHPC (down 8.73%), Steel Authority of India (down 4.26%), and Skipper (down 4.74%) will announced their quarterly results later today.
Buzzing Index:
The Nifty PSU Bank index slipped 3.10% to 6,729.45. The index had advanced 5.93% in the past three trading sessions.
Indian Overseas Bank (down 6.61%), Punjab & Sind Bank (down 6.61%), Central Bank of India (down 6.32%), UCO Bank (down 5.78%) and Bank of Maharashtra (down 5.69%), Union Bank of India (down 4.3%), Bank of India (down 3.35%), Indian Bank (down 3.22%), Punjab National Bank (down 3.19%) and Canara Bank (down 1.58%) edged lower.
Stocks in Spotlight:
Divi's Laboratories rose 2.5%. The company consolidated net profit for Q3 FY24 was Rs 358 crores as against a PAT of Rs 306 crore for Q3 FY23, thereby recording a growth of 17% YoY. The companys total income in the third quarter rose by 7% to Rs 1950 crore from Rs 1821 crore posted in the same period last year.
Bandhan Bank slipped 5.92%. The Kolkata-based private lender reported a net profit of Rs 732.72 crore in Q3 FY24, steeply higher than Rs 290.57 crore recorded in Q3 FY23. Total income increased 7.6% to Rs 5,210.60 crore in the third quarter of FY24 from Rs 4,840.94 crore posted in Q3 FY23.
Honasa Conumer (Mamaearth) added 2.29%. Mamaearth reported consolidated net profit of Rs 25.90 crore in Q3 FY24, steeply higher than Rs 9.47 crore recorded in Q3 FY23. Revenue from operations jumped 27.8% to Rs 488.22 crore in Q3 FY24 as against Rs 382.16 crore recorded in corresponding quarter last year.
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