The benchmark indices continued trading with deep losses in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, skid 427.15 points or 0.71% at 59,925.67. The Nifty 50 index lost 141.05 points or 0.78% at 17,876.15.
Housing Development Finance Corporation (HDFC) (down 1.46%), ICICI Bank (down 1.26%) and State Bank of India (SBI) (down 2.11%) dragged the market.
Broader markets suffered minor losses. The S&P BSE Mid-Cap index fell 0.68%. The S&P BSE Small-Cap index slipped 0.35%.
Sellers outnumbered buyers. On the BSE, 1,417 shares rose and 1,776 shares fell. A total of 168 shares were unchanged.
Gainers & Losers:
Titan Company (up 1.58%), Hindalco Industries (up 0.98%), JSW Steel (up 0.73%) and Reliance Industries (RIL) (up 0.49%) were major gainers in Nifty 50 index.
Tech Mahindra (down 2.66%), ONGC (down 2.35%), Bajaj Finserv (down 2.15%), SBI Life Insurance Company (down 2.15%) and State Bank of India (SBI) (down 2.11%) were major losers in Nifty 50 index.
Nifty Result Today:
Tata Steel (up 0.81%) will announce its quarterly result today.
Earnings Impact:
Thermax surged 10.45% after the company's consolidated net profit surged 183% to Rs 88 crore in Q2 FY22 from Rs 31 crore in Q2 FY21. Consolidated operating revenue increased by 29% to Rs 1,469 crore in the second quarter of FY 2021-22 from Rs 1,141 crore in the corresponding quarter last year. Thermax said that exceptional items impacted the results last year on account of voluntary retirement scheme, impairment of certain assets of Boilerworks A/S and provision for closure of German subsidiary claims, totaling to Rs 24.65 crore. As on 30 September 2021, order booking for the quarter was 67% higher at Rs 1,856 crore as compared with Rs 1, 114 crore recorded in the corresponding quarter last year, which was impacted due to the COVID-19 pandemic. Thermax Group had an order balance of Rs 6,516 crore, up 26% Y-o-Y.
Narayana Hrudayalaya soared 8.45% after the company posted a consolidated net profit of Rs 99.34 crore in Q2 FY22 as against a loss of Rs 3.42 crore reported in Q2 FY21. Net sales increased by 56.5% to Rs 940.28 crore in Q2 FY22 from Rs 600.73 crore posted in Q2 FY21. The company posted a profit before tax of Rs 116.24 crore in Q2 FY22 as against a pre-tax loss of Rs 29.54 crore registered in the same quarter last year. Consolidated EBITDA stood sharply higher at Rs 181 crore in Q2 FY22 as against Rs 37.2 crore posted in Q2 FY21. EBITDA margin stood at 19.3% in Q2 FY22.
Global Markets:
European stocks opened higher while most Asian stocks advanced on Thursday, 11 November 2021, as global markets digest the latest U.S. inflation data which showed faster-than-expected price rises.
Prices for U.S. consumers jumped 6.2% in October compared with a year earlier as surging costs for food, gas and housing left Americans grappling with the highest inflation rate since 1990. The year-over-year increase in the consumer price index exceeded the 5.4% rise in September, the Labor Department reported Wednesday.
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