Sensex rises 320 pts, Nifty ends atop 18100; IT index up 2%, YES Bk down 8%

Closing Bell: Sectorally, Nifty IT clocked around a 2 per cent gain, followed by nearly 1 per cent upmove in bank, auto, FMCG and pharma indices. Metals and realty were the only pockets to close lower

2:53 PM

Earnings Alert:: IDBI Bank Q3 net soars 60%; stock tanks 6%

IDBI Bank Q3 net surged 60 per cent YoY to Rs 927 crore; operating profit grew 16 per cent YoY to Rs 2,051 crore and NII (Net Interest Income) was up 23 per cent at Rs 2,925 crore.

2:45 PM

Earnings Alert:: Kewal Kiran Clothing net dips 26.6%; stock tanks 6%

Kewal Kiram Clothing Q3 net was up 26.6 per cent at Rs 26.98 crore for the quarter ended December 2022, against Rs 21.31 crore in the corresponding quarter a year ago. Total income grew 16.1 per cent YoY to Rs 199.09 crore.

 

2:37 PM

Lloyds Metals hits new high on robust Q3 results; stock up 67% in 2 months

Shares of Lloyds Metals and Energy rallied 5 per cent to hit a new high of Rs 289.95 in Monday’s intra-day trade, after the company reported a robust set of earnings. The company recorded its highest ever quarterly revenues of Rs 1,029 crore in the December quarter (Q3FY23) from Rs 171 crore in Q3FY22. READ MORE

2:29 PM

Most of the upside will come from earnings growth: Herald Van Der Linde

The earnings growth visibility in India is the best among Asian equities, says Herald Van Der Linde, head of equity strategy, Asia Pacific, HSBC. In conversation with Samie Modak, van der Linde explains why HSBC maintains an overweight stance on India, notwithstanding concern over its expensive valuations. READ Edited Excerpts

2:21 PM

BSE 500:: YES Bank, Saregama India, JSW Energy among top losers

YES Bank down 7 per cent was the top loser among the BSE 500 stocks. Saregama India JSW Energy, Infibeam Avenues and Alok Industries, down 5 - 7 each were the other major losers so far on Monday.

2:09 PM

Mutual fund's SIP investors redeemed over Rs 40K crore in H2CY22

Mutual fund (MF) investors redeemed over Rs 40,000 crore from systematic investment plan (SIP) accounts in the last six months (second half, or H2) of Calendar 2022 (H2CY22). The figure is 36 per cent higher than the redemptions in the first half of CY22 - the period when SIP investors had taken out Rs 30,000 crore, reveals an analysis of data from the Association of Mutual Funds in India. READ MORE

2:00 PM

IndiGrid to acquire 100% stake in Khargone Transmission for Rs 1,497 crore

IndiGrid signed a share purchase agreement on January 21, 2023, for the acquisition of a 100 per cent shareholding and economic interest, in one or more tranches, in Khargone Transmission Ltd from Sterlite Power Transmission Ltd (one of the Sponsor of IndiGrid). READ MORE

1:52 PM

Earnings Alert:: Oriental Hotels Q3 net zooms 161%; stock up 2%

Oriental Hotels reported a 161.5 per cent surge in Q3 net at Rs 18.67 crore for the quarter ended December 2022, against Rs 7.14 crore in the corresponding quarter a year ago. Total income rose 40.2 per cent YoY at Rs 110.77 crore.

1:44 PM

News Alert:: Gokaldas Exports announces opening of unit unit in MP

The company informed BSE, that it inaugurated a 100% owned Subsidiary at Bhopal, Madhya Pradesh. The factory will commence the trial production at the earliest, the release added.

1:35 PM

Global Check:: Hang Seng, Nikkei shine among global Asian peers

Source: Yahoo Finance

1:26 PM

India's central bank likely buying dollar after rupee rose above 81.125/$

India's central bank likely bought dollars via state-run banks to prevent the rupee from appreciating significantly above the 81 psychological level, three traders told Reuters. READ MORE

1:17 PM

Canara Bank reports 92% rise in net profit in Q3FY23, NPAs fall to 5.89%

Canara Bank on Monday reported a 92 per cent jump in its net profits in the third quarter of the current financial year (Q3FY23). The profits stood at Rs 2,881 crore, as compared to Rs 1,502 crore in the same quarter last year. READ MORE

1:08 PM

BSE 500:: Delhivery, Can Fin Homes, Torrent Power among top gainers

Delhivery up over 7 per cent was the top gainer among the BSE 500 stocks so far on Monday. It was followed by Can Fin Homes, Torrent Power, Aether Industries and Coforge, up around 5 per cent each.

12:59 PM

MARKET CHECK: Sensex wipes off gains; trades off highs

12:49 PM

ICICI Bank best placed to face NIM shock; analysts see up to 44% upside

ICICI Bank Q3 review: Brokerages have applauded private lender ICICI Bank’s ‘super normal’ performance in the October-December quarter (Q3) of financial year 2022-23 (FY23), reiterating that the bank is best placed among large private peers to deliver growth, and absorb any macro/asset-quality shocks given healthy provisions and capital buffers. Read more