Sensex, Nifty End 0.8% Lower Led By Axis Bank, Maruti Suzuki
Catch all live updates on share prices, index moves, corporate announcements and more from the Sensex and Nifty, today.
Closing Bell: Sensex, Nifty Pare All Gains Dragged By Axis Bank, Wipro, Maruti
Indian equity benchmarks pared all of their intraday gains to close 0.8% lower, dragged by heavyweights Reliance Industries, Axis Bank and Maruti Suzuki.
The S&P BSE Sensex ended the day at 57,060.87, while NSE Nifty 50 Index closed at 17,102.5.
The S&P BSE MidCap, S&P BSE SmallCap and S&P BSE LargeCap all declined, with the broader peers ending 0.93% lower. All 19 sector sub-indices compiled by BSE Ltd. declined, led by oil and gas stocks.
The market breadth was skewed in favour of the bears. About 1,472 stocks gained, 1,862 declined and 143 unchanged.
TVS Motor Down Most In Seven Weeks
Shares of TVS Motor Company fell 4.2%, the most in seven weeks. The stock was the worst performer among its peers, outpacing losses in S&P BSE Sensex.
Ultratech Cement Beats Estimates
Revenues up 8.6% at Rs 15,167.5 crore vs Rs 13,965.61 crore (BBE of Rs 15,051.4 crore)
Net profit up 38 % at Rs 2,453.9 crore vs Rs 1,777.6 crore (BBE of Rs 1,504 crore)
EBITDA down 16.2% at Rs 2943.3 crore vs Rs 3,512.5 crore (BBE of Rs 2,822 crore)
Margins at 19.4% vs 25. 2% (BBE of 19%)
Maruti Suzuki Beats Estimates in Q4; Shares Trade Lower
Shares of Maruti Suzuki traded in the red even as India's largest carmaker beat profit and revenue estimates for Q4 comfortably.
Revenue up 11.31% at Rs 26,740 crore Vs Rs 24,023 crore (BBG estimate : Rs 26,661 crore)
Net profit up 57.71% to Rs 1839 crore from Rs 1,161 crore (BBG estimate : Rs 1,482 crore Profit)
EBITDA up 55.61% to Rs 2,426 crore from Rs 1,991 crore (BBG estimate: Rs 2,173 crore)
Margins at 9.1% Vs 8.29% (BBG estimate : 8.15%)
Maruti Suzuki Falls 1%
Shares of Maruti Suzuki Ltd. dropped 1% ahead of the company's scheduled Q4 earnings release today.