The benchmark indices were trading with minor gains in morning trade, amid significant volatility. IT shares rose for third day. At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 67.28 points or 0.13% to 51,598.80. The Nifty 50 index added 44.40 points or 0.29% to 15,150.90.
In the broader market, the S&P BSE Mid-Cap index rose 0.05% and the S&P BSE Small-Cap index gained 0.45%.
The market breadth was positive. On the BSE, 1459 shares rose and 1037 shares fell. A total of 130 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 107,767,935 with 2,367,856 deaths. India reported 135,926 active cases of COVID-19 infection and 155,447 deaths while 104,96,308 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Buzzing Index:
The Nifty IT index rose 0.92% to 26,282.55, extending decline for third day. The index has added 1.95% in three sessions.
Wipro (up 1.95%), Infosys (up 1.54%), HCL Tech (up 1.16%), Coforge (up 1%), Tech Mahindra (up 0.77%), TCS (up 0.69%), Mphasis (up 0.41%), Larsen & Toubro Infotech (up 0.21%) and MindTree (up 0.19%) advanced.
Earnings Today:
Grasim Industries was up 0.89% ahead of Q3 earnings today.
Apollo Hospitals (up 0.26%), Bharat Forge (up 0.09%), Delta Corp (up 0.53%), Embassy Office Parks REIT (up 0.56%), Forbes & Company (up 0.47%), Force Motors (up 0.69%), GIC Housing Finance (up 1.58%), Glenmark (up 0.31%), GMR Infra (up 0.58%), Hindustan Aeronautics (up 2%), Indiabulls Housing Finance (up 2.22%), ITI (up 0.76%), Mazagon Dock Shipbuilders (up 0.15%), MIDHANI (up 0.64%), MOIL (up 1.22%), Motherson Sumi (down 0.67%), NALCO (down 0.39%), Info Edge (India) (down 0.59%), Phoenix Mills (up 0.81%) and Siemens (up 0.90%) will also announce quarterly earnings today.
Earnings Impact:
ITC fell 3.73% to Rs 218 after the company's net profit declined 11.6% to Rs 3,663 crore on 0.05% decline in net sales to Rs 11,698.60 crore in Q3 FY21 over Q3 FY20. EBITDA declined by 7.2% to Rs 4,281 crore in Q3 December 2020 from Rs 4,613 crore in Q3 December 2019.
Total FMCG segment revenue rose 5.1% YoY to Rs 9060 crore during the period under review. In the FMCG segment, cigarettes revenue increased by 3.5% YoY to Rs 5498 crore while the revenue from other FMCG segment improved by 7.5% YoY to Rs 3562 crore during the quarter.
Hotel business revenue stood at Rs 235 crore (down 57.4% YoY), agri-business revenue was at Rs 2482 crore (up 18.5% YoY) and paperboards, paper & packaging revenues were at Rs 1478 crore (down 5% YoY) in the third quarter.
Ashok Leyland fell 1.81% to Rs 132.55 after the company posted a standalone net loss of Rs 19.38 crore in Q3 FY21 as against net profit of Rs 27.75 crore in Q3 FY20. The profit was impacted by a one-time expenditure of Rs 85 crore in Q3 FY21 towards a voluntary retirement scheme (VRS). Net sales jumped 20.5% to Rs 4,789.82 crore in Q3 FY21 over Q3 FY20. The result was announced after market hours yesterday, 11 February 2021.
Ashok Leyland's domestic LCV volumes for Q3 FY21 stood at 15,991, sequentially higher by about 46% over Q2 FY21 (10952) and also higher than Q3 FY20 by 27% (12574). Exports volumes for Q3 stood at 2941 which is almost doubled over Q2 FY21 (1491) and is also higher than Q3 FY20 by 24% (2371).
The global automotive industry has been affected by the constraints in supply of Electronic Control Units (ECUs) owing to the non-availability of semi-conductors. Indian automotive industry has been no exception. The company's management is closely monitoring the situation as this can have an impact on future volumes if the constraints do not ease, the company said.
Power Grid shed 0.26% to Rs 213.15. On a consolidated basis, Power Grid Corporation of India reported a 26% jump in net profit to Rs 3,367.71 crore in Q3 FY21 on an 8.3% rise in net sales to Rs 10,142.48 crore in Q3 FY21 over Q3 FY20.
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