Sensex rises 203 pts, Nifty ends near 17,800; Maruti zooms 5%, RIL 3%

Stock market wrap: Reliance alone contributed 231 points to the 30-share benchmark. Maruti, M&M and NTPC were the other major gainers. The Metal and IT sector witnessed selling pressure.

9:46 AM

MARKET CHECK :: Sensex extends gains, reclaims 60K-mark

9:45 AM

Gokaldas Exports rallies 7% as profit surges 60% in Q2

>> Net profit of Gokaldas Exports rose 60.08% to Rs 45.80 crore in the quarter ended September 2022 as against Rs 28.61 crore YoY.

>> Sales rose 28.37% to Rs 569.67 crore vs Rs 443.77 crore last year.

9:42 AM

Sun Pharma-arm Taro reports lowest sales in 10 quarters; stock falls 1.5%

>>  US unit, Taro Pharma, reported a net loss of $2.8 million compared to a profit of $23.3 million YoY. It also reported an operating loss of $6.81 million during the quarter.

>> This is Taro's first net loss after four straight quarters of reporting a profit.

>> Taro's sales during the quarter remained flat at $130.5 million, compared to $132 million last September. Taro's sales were also the lowest in the last ten quarters.

9:39 AM

Infibeam Avenues zooms 13% on RBI's in-principle nod for payment aggregator licence

>> Infibeam Avenues, which operates CCAvenue, has received an in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator (PA). It joins a list of entities who have received the in-principle approval from RBI for a PA licence.

9:36 AM

Vedanta falls nearly 2% despite receiving extension for a project

>> The Government of India accorded its approval for extension of the PSC. 

>> PSC extension for 10 years from May 15, 2020 to May 14, 2030 has been executed by the parties to the PSC on October 27, 2022. 

9:34 AM

Dhanuka Agritech surges over 6% as board to mull Buyback on November 1

>> A meeting of the Board of Directors is scheduled to be held on Tuesday, November 1, 2022, inter-alia, to consider and approve Un-audited Standalone and Consolidated Financial Results of the Company for Q2FY23 and H2FY23.

>> The Board of Directors shall also consider the proposal for buyback of fully paid-up equity shares of the Company through Tender Offer route.

9:31 AM

Texmaco Rail rises 1% on order win worth Rs 253 crore

>> The company secured Rs 252.8 crore contract to supply standard gauge ballastless track for the Indore Metro Rail project. The company was the lowest bidder and beat L&T’s Rs 263.3 crore bid for the contract floated by Madhya Pradesh Metro Rail Corporation.

9:29 AM

Result Reaction :: Aditya Birla Sun Life AMC cracks 5%

>> The company reported 11 per cent rise profit after tax (PAT) to Rs 191.68 crore in Q2FY23 from Rs 173.07 crore in Q2FY22. Total revenue, too, climbed to Rs 387.66 crore in the recently concluded quarter as against Rs 372.2 crore, in the year-ago period.

9:28 AM

Result Reaction :: PNB Housing Finance up about half a per cent

>> The housing finance firm’s net profit rose by 12 per cent YoY to Rs 263 crore in Q2FY23 from Rs 235 crore, in the year-ago period. Net interest income (NII), too, expanded 29 per cent YoY to Rs 649 crore in Q2FY23.

9:26 AM

Result Reaction :: Tata Chemicals slides 4% despite 3x jump in Q2 profit

>>  The company clocked nearly three-fold jump in consolidated net profit to Rs 628 crore in Q2FY23 from Rs 221 crore, in the year-ago period.

>> Net income, too, rose 39.62 per cent YoY to Rs 4,299 crore in Q2FY23 as against Rs 3,079 crore in Q2FY22.

>> Expenses increased, on the other hand, rose to Rs 3,623 crore in Q2FY23 from Rs 2,805 crore. 

9:25 AM

Result Reaction :: Indus Towers falls 2% post weak Q2

>> Q2 saw 44 per cent YoY drop in net profit to Rs 872 crore. Revenue, meanwhile, rose 16 per cent YoY to Rs 7,967 crore in Q2FY23. 

>> The company also approved to raise Rs 2,000 crore.

9:23 AM

Result Reaction :: SBI Card tumbles 5% as Q2 profit misses Street estimates

>> SBI Card and Payments Services reported a 52 per cent jump in net profit in the July-September (Q2FY23) quarter to Rs 526 crore, aided by higher income, and lower provisions. The company, however, missed the Street estimates on net profit as analysts at Bloomberg had predicted a net profit of Rs 627 crore.

9:21 AM

Sensex Heatmap :: 22 of the 30 constituents rise in trade; Maruti Suzuki, RIL top charts

9:20 AM

Sectoral trends :: Auto stocks lead gains; Metals, Pharma indices slide

9:19 AM

Broader market check :: MidCap index falls; SmallCaps flat