Stock Market Today: Nifty, Sensex Log Weekly Losses; Bharti Airtel, Infosys Drag

The yield on the 10-year bond closed 3 bps higher at 7.11% on Friday.

Source: Bloomberg

• The local currency weakened 7 paise to close at 83.03 against the U.S dollar.

• It closed at 82.96 on Thursday.

Source: Bloomberg

India's benchmark indices ended the choppy trading session higher as ICICI Bank Ltd, State Bank of India gained. However, the indices declined weekly.

The NSE Nifty 50 ended 64.55 points or 0.30% higher at 21,782.50, and the BSE Sensex ended 169.98 points or 0.24% higher at 71,598.41.

Intraday, the NSE Nifty 50 fell 0.41% to 21,629.90, and the BSE Sensex fell 0.32% to 71,200.31.

The NSE Nifty 50 declined 0.33% this week from last week, while the S&P BSE Sensex ended with 0.68% weekly loss.

ICICI Bank Ltd., State Bank of India, Reliance Industries Ltd., Axis Bank Ltd., and Grasim Industries added positively to the index.

Infosys Ltd., Bharti Airtel Ltd., Mahindra & Mahindra Ltd., NTPC Ltd., and Oil and Natural Gas Corp of India weighed on the indices.

This week on NSE, nine sectors out of 12 gained, while three declined. The Nifty PSU Bank rose 5.3% to become the top performer among sectoral indices, while the Nifty FMCG index fell 2.3%.

Broader markets underperformed with the S&P BSE Midcap falling 0.82%, and Smallcap fell 1.36%.

On BSE, 15 out of 20 sectoral indices fell, while five rose. The S&P BSE Oil & Gas fell the most among sectoral indices.

The market breadth was skewed in the favour of sellers. Around 1322 stocks rose, 2514 fell, and 96 remained unchanged on the BSE.

• Total income rose 17.61% to Rs 2,022.9 crore from Rs 1,719.96 crore

• Net profit rose 104.16% to Rs 519.2 crore from Rs 254.3 crore

• Revenue rose 8.1% to Rs 704.4 crore from Rs 651.6 crore

• Ebitda rose 7.61% to Rs 98.9 crore from Rs 91.9 crore

• Margin fell 6 bps to 14.04% from 14.1%

• Net profit rose 34.62% to Rs 62.6 crore from Rs 46.5 crore

• DB Realty gave in-principal approval for demerger of hospitality business

• To list shares of hospitality unit after demerger

Source: Exchange Filing

• Revenue fall 9.73% to Rs 1,357.77 crore from Rs 1,504.03 crore

• Ebitda fell 4.23% to Rs 165.06 crore from Rs 172.36 crore

• Margin rose 69 bps to 12.15% from 11.45%

• Net profit was at Rs 8.59 crore from loss of Rs 49.51 crore

Indian benchmark equity indices came off their day's low to trade little changed through midday on Friday on the back of gains in shares of ICICI Bank Ltd. and Reliance Industries Ltd.

As of 11:57 a.m., the NSE Nifty 50 was trading 6.85 points, or 0.03%, higher at 21,724.80, while the S&P BSE Sensex rose 50.67 points, or 0.07%, to 71,479.10.

"On the daily chart, Nifty has formed a significant bearish engulf, indicating bearish pressure," according to Mandar Bhojane, research analyst at Choice Broking Ltd.

"On the lower side, Nifty is expected to find strong support around 21,500–21,400 levels, and dips towards these levels can be considered for initiating fresh long positions," he said.

In the short term, the upside will be limited, and the range of 22,000–22,200 will continue to act as a stiff supply zone for the index, Bhojane said.

Shares of HDFC Bank Ltd., ICICI Bank Ltd., ITC Ltd., Reliance Industries Ltd. and State Bank of India were positively contributing to the Nifty.

Whereas, Bharti Airtel Ltd., Coal India Ltd., Infosys Ltd., Oil & Natural Gas Corp. and NTPC Ltd. were weighing on the index.

Most sectoral indices fell with Nifty Media, Nifty Metal, and Nifty Oil and Gas falling more than 2%. Nifty Bank, Nifty FMCG, Nifty Financial Services, and Nifty Pharma rose.

The broader markets underperformed their larger peers, with the BSE MidCap falling 1.58% and the BSE SmallCap declining 1.78% through midday on Friday.

Three of the 20 sectors compiled by the BSE advanced, while 17 declined.

The market breadth was skewed in the favour of the sellers. As many as 989 stocks advanced, 2,767 declined and 111 remained unchanged on the BSE.

• Revenue rose 6.2% to Rs 1,221.7 crore from Rs 1,150.3 crore

• Ebitda fell 8.34% to Rs 133.72 crore from Rs 145.88 crore

• Margin fell 173 bps to 10.94% from 12.68%

• Net profit declined 2.15% to Rs 150.98 crore from Rs 154.31 crore

• Revenue rose 14.58% to Rs 340.2 crore from Rs 296.9 crore

• Ebitda fell 16.48% to Rs 56.17 crore from Rs 67.26 crore

• Margin fell 614 bps to 16.51% from 22.65%

• Net profit fell 26.4% to Rs 35.6 crore from Rs 48.37 crore

• Revenue at Rs 64.2 crore vs Rs 60.9 crore, up 5.41%

• EBITDA at Rs 12.4 crore vs Rs 14.2 crore, down 12.67%

• Margin at 19.31% vs 23.31%

• Net profit at Rs 5.86 crore vs Rs 9.17 crore, down 36.09%

• Revenue at Rs 353.8 crore vs Rs 281.3 crore, up 25.77%

• EBITDA at Rs 62.2 crore vs Rs 40.6 crore, up 53.2%

• Margin at 17.58% vs 14.43%

• Net profit at Rs 37.6 crore vs Rs 26.3 crore, up 42.96%

Operations consolidated for achieving better economies of scale.

Source: Exchange Filing

• Revenue at Rs 885.1 crore vs Rs 760.8 crore, up16.33%

• Ebitda at Rs 123.48 crore vs Rs 101.45 crore, up 21.71%

• Margin at 13.95% vs 13.33%

• Net profit at Rs 80.56 crore vs Rs 45.27 crore, up 77.95%

• Revenue at Rs 386.13 crore vs Rs 327.75 crore, up 17.81%

• Ebitda at Rs 21.8 crore vs Rs 15.9 crore, up 37.1%

• Margin at 5.64% vs 4.85%

• Net profit at Rs 2.68 crore vs loss of Rs 0.13 crore

• Revenue at Rs 369.3 crore vs Rs 376.8 crore, down 2%

• Ebit at Rs 43.64 crore vs Rs 49.56 crore, down 11.95%

• Margin at 11.81% vs 13.15%

• Net profit at Rs 41.4 crore vs Rs 48.9 crore, down 15.33%

• Promoters Sheetal Arora, Arjun Juneja and Puja Juneja sold 1.62% stake on Feb 8

• Shareholding of promoters now stands at 74.88% vs 76.50% earlier

Source: Exchange filing

• Revenue at Rs 165.5 crore vs Rs 154.8 crore, up 6.91%

• Ebitda at Rs 30.3 crore vs Rs 28.4 crore, up 6.69%

• Margin at 18.3% vs 18.34%

• Net profit at Rs 14.2 crore vs Rs 16.3 crore, down 12.88%

• Revenue rose 1.4% to Rs 996.3 crore from Rs 982.7 crore

• Ebitda rose 7% to Rs 314.9 crore from Rs 294.2 crore

• Margin rose 166 bps to 31.6% from 29.94%

• Net profit rose 11.9% to Rs 260.7 crore from Rs 232.9 crore

• Revenue rose 9.3% to Rs 3,323.9 crore from Rs 3,040.9 crore

• Ebitda grew 18.14% to Rs 707.7 crore from Rs 599 crore

• Margin grew 159 bps to 21.29% from 19.69%

• Net profit rose 31.36% to Rs 604.3 crore from Rs 460 crore

• Alkem Laboratories' board approved interim dividend of Rs 35 per share.

Source: Exchange Filing

• Zydus Lifesciences Ltd's board approved a buyback of up to Rs 600 crore at Rs 1,005per share.

• To buy back up to 5.28% of its fully paid-up equity share capital via tender offer.

• Sets Feb 23 as record date for determining shareholders eligible for the buyback.

Source: Exchange filing

• Revenue 21.65% Tto Rs 1,740.6 crore from Rs 1,430.8 crore

• Ebitda grew 26.17% to Rs 1,10.63 crore from Rs 87.68 crore

• Margin grew 22 bps to 6.35% from 6.12%

• Net profit came at Rs 20.1 crore from loss of Rs 58.37 crore

• Revenue rose 5.8% to Rs 4,505.2 crore from Rs 4,257.1 crore

• Ebitda rose 15.3% to Rs 1,102.4 crore from Rs 956 crore

• Margin rose 201 bps to 24.46% from 22.45%

• Net profit rose 26.8% to Rs 789.6 crore from Rs 622.9 crore

• Revenue rose 17.03% to Rs 435.5 crore from Rs 372.1 crore

• Ebitda rose 30.07% to Rs 142.3 crore from Rs 109.4 crore

• Margin grew 327 bps to 32.67% from 29.4%

• Net profit rose 22.99% to Rs 119.8 crore from Rs 97.4 crore

• Supreme Court agrees to hear pleas filed by Indian companies

• Plate

• Last month, the Madras high court had rejected the companies' plea challenging Google LLC's new billing policy.

• The court said that the matter falls under the jurisdiction of CCI

• Google's user choice billing system imposes a service service fee ranging from 11% to 26% on the app developers for download of paid apps and in-app purchases from the Play Store.

Source: Supreme Court Proceedings

• Revenue grew 40.9% to Rs 704.8 crore from Rs 500.2 crore

• Ebitda rose 12.76% to 69.69 crore from Rs 61.8 crore

• Margin fell 246 bps to 9.88% from 12.35%

• Net profit fell 12.14% to Rs 31.1 crore from Rs 35.4 crore

• Revenue fell 3.28% to Rs 1,553.5 crore from Rs 1,606.1 crore

• Ebitda fell 5.61% to Rs 228.31 crore from Rs 241.9 crore

• Margin fell 36 bps to 14.69% from 15.06%

• Net profit fell 21.5% to Rs 104.7 crore from Rs 132.8 crore

The scrip rose as much as 8.21% to Rs 410 apiece, the lowest level since Feb 6. It pared gains to trade 6.41% lower at Rs 418.70 apiece, as of 12:37 p.m.This compares to a 0.1% advance in the NSE Nifty 50 Index.

It has fallen 29.95% in the last twelve months. Total traded volume so far in the day stood at 1.20 times its 30-day average. The relative strength index was at 24.60, indicating that the stock may be oversold.

• Revenue grew 12.26% to Rs 204.26 crore from Rs 181.94 crore

• Ebitda rose 3.92% to Rs 65.62 crore from Rs 63.14 crore

• Margin fell 257 bps to 32.1% from 34.7%

• Net profit fell 1.11% to Rs 52.35 crore from Rs 52.94 crore

• Revenue rose 9.17% to Rs 6,162.5 crore from Rs 5,644.6 crore

• Ebitda rose 87.8% to Rs 1,054.81 crore from Rs 561.64 crore

• Margin up 716 bps to 17.11% from 9.95%

• Net profit rose 191.54% to Rs 509.71 crore from Rs 174.83 crore

• Board approved second interim dividend of Rs 3 per share

• BofA reiterated Underperform on Lupin Ltd with a Price Target of Rs 1,200

• The pharma company's Ebitda beat on higher revenue growth across key market - India +13%, US flat QoQ

• US annualized revenue $850mn factoring gSpiriva ramp-up

• Next leg-up on continued pipeline execution & high value launches

• Saregama India Ltd's board approved interim dividend of Rs 4 per share.

Source: Exchange Filing

Share prices of the InterGlobe Aviation Ltd fell over 4% earlier in the day. However, the scrip erased some of its losses, and was trading 1.15% lower at 3,096.45 on NSE as of 12:29 p.m.

Similarly, on BSE, SpiceJet Ltd declined 5.5% before it recovered to trade 2.39% lower at Rs 68.27 as of 12:29 p.m.

A parliamentary panel suggested capping airfare prices based on routes, and to set up a regulator entity to manage prices, reported PTI on Friday. The panel said, after examining responses on airfares by the Ministry of Civil Aviation, price regulation by the airlines has not been effective.

• BofA reiterated 'Buy' on Fortis Health with a price Target of Rs 500.

• EBITDA beat despite topline miss on cost efficiencies in hospitals.

• Expansion on track; all eyes on resolution of legal case.

• Diagnostic continues to lag.

• Management guided for hospital margin expansion (20% FY24 exit) on higher occupancy.

• Prism Johnson at 12.26x its 30 day average, intraday high of 14.17%

• Apollo Pipes at 9.5x its 30 day average, intraday high of 18%

• JK Lakshmi Cement at 6.82x its 30 day average, intraday high of 9%

• The Ramco Cement at 5.95x its 30 day average, intraday low of 8.29%

• Surya Roshni at 4.74x its 30 day average, intraday low of 19.26%

• J Kumar Infraprojects in a joint venture with NCC won an order worth Rs 4,548 crore from Brihanmumbai Municipal Corp for work on Coastal Road Project.

• The company's share of the JV order at Rs 2,274 crore.

Source: Exchange Filing

• Ambuja Cements bought 7.93% stake in Sanghi Industries via open offer on Feb 7.

• Ambuja Cements bought 2.04 crore shares at Rs 121.9 per share.

• Ambuja's total stake in co stands at 62.44%.

Source: Exchange filing

• Steel Authority of India Ltd had 13 lakh shares changed hands in a large trade.

• The steelmaker had 0.03% equity changed hands at Rs 129.95 apiece.

• Buyers and sellers are not known immediately.

Source: Bloomberg

• Max Healthcare Institute had 15.5 lakh shares or 0.2% equity changed hands in a large trade.

• Buyers and sellers are not known immediately.

Source: Bloomberg

• Indian banks are well positioned to take advantage of available technology, said K.V. Kamath, charman, National Bank for Financing Infrastructure Development.

• Banks' high RoE is result of clean balance sheets, also an indication of strong economy, Kamath said at IBA Banking Technology Conference in Mumbai.

• We need to devise technologies especially with open source, Kamath said.

• Indian digital companies and fintechs are building a new ecosystem.

• Cloud based solutions using open source is the way to go.

Source: IBA Banking Technology Conference, Mumbai

• Power Finance Corp Ltd had 11.6 lakh shares or 0.04% equity changed hands in a large trade.

• Buyers and sellers are not known immediately.

Source: Bloomberg

Shares of Rail Vikas Nigam Ltd. tumbled nearly 10% on Friday after net profit for the third quarter fell over 6% and missed analyst estimates.

The railway company's profit decreased to Rs 358.6 crore in the quarter ended December, according to an exchange filing on Thursday. Analysts polled by Bloomberg had projected a consensus estimate of Rs 385.60 crore.

The scrip rose as much as 5.07% to Rs 151.50 piece, the highest level since Dec 3, 2021. It pared gains to trade 1.25% higher at Rs 145.90 apiece, as of 10:54 a.m.This compares to a 0.16% decline in the NSE Nifty 50 Index.

It has risen 172.52% in the last twelve months. Total traded volume so far in the day stood at 2.30 times its 30-day average. The relative strength index was at 65.55.

Out of 29 analysts tracking the company, 26 maintain a 'buy' rating and nine suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 11.2%.

• Max Healthcare Institute Ltd is to acquire 100% stake in Alexis Multi-Specialty Hospital at an enterprise value of Rs 412 crore.

• To acquire stake for nearly Rs 372 crore.

Source: Exchange filing

• Punjab National Bank had 11.4 lakh shares changed hands in a large trade.

• The lender had its 0.01% equity changed hands at Rs 122.35 apiece.

• Buyers and sellers are not known immediately.

Source: Bloomberg

• NHPC had 13 lakh shares changed hands in a large trade.

• The company's 0.01% equity changed hands at Rs 95 apiece.

• Buyers and sellers are not known immediately.

Source: Bloomberg

• ITC had 10.2 lakh shares changed hands in a large trade.

• The company's 0.01% equity changed hands at Rs 416.65 apiece.

• Buyers and sellers are not known immediately.

Source: Bloomberg

The scrip fell as much as 9.4% to Rs 424.50 piece, the lowest level since January 29. It pared gains to trade 8.23% lower at Rs 430.65 apiece, as of 10:21 a.m. This compares to a 0.09% advance in the NSE Nifty 50 Index.

The shares of AstraZeneca Pharma India Ltd. fell on Friday after the net profit in the third quarter slips 46.07%.

The scrip fell as much as 14.52% to 5,615.75 apiece, the lowest level since Jan. 9. It pared losses to trade 13.31% lower at Rs 5,695.60 apiece, as of 10:05 a.m. This compares to a 0.08% advance in the NSE Nifty 50 Index.

It has risen 68.53% in the last 12 months. Total traded volume so far in the day stood at 17 times its 30-day average. The relative strength index was at 39.

The shares of Life Insurance Corp on Friday crossed the market cap of 7 crore as the shares rose to an all-time high after the company reported a surge in the third quarter.

The scrip rose as much as 6.31% to 1,175 apiece, to touch fresh life high. It recently hit life high on Feb. 8, 2023. It pared gains to trade 3.57% higher at Rs 1,144.70 apiece, as of 9:36 a.m. This compares to a 0.13% advance/decline in the NSE Nifty 50 Index.

It has risen 86.26% in the last 12 months. Total traded volume so far in the day stood at 9.4 times its 30-day average. The relative strength index was at 84 indicating it was overbought.

Out of 19 analysts tracking the company, 13 maintain a 'buy' rating, five recommend a 'hold,' and one suggests 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 87.2%.

• Excel Industries Ltd.'s CEO N R Kannan resigns, with effect from June 30.

Source: Exchange Filing

Indian benchmark share indices opened flat as gains in shares of Reliance Industries Ltd., HDFC Bank Ltd. supported, while fall in Bharti Airtel Ltd., and Hindustan Unilever Ltd weighed.

As of 9:24 a.m., the NSE Nifty 50 was 19.95 points or 0.1% higher at 21,737.90, and the S&P BSE Sensex was 116.36 points or 0.16% higher at 71,544.79.

"The Nifty 50 has witnessed volatility and corrective action post the policy to close near the low point of the week and 20 day average. The sustenance below 21,700 would push the index lower to 21,400 levels and will confirm a double top is in place near 22,100 levels.," said Vikas Jain, senior research analyst at Reliance Securities.

RSI has placed below the average line and other key technical indicators are in mixed trend from current levels. Highest call OI is at with 22,000 strike while on the downside the highest put OI has moved lower to 21,500 for the weekly expiry, Jain added.

Reliance Industries Ltd., ICICI Bank Ltd., Tata Consultancy Services Ltd., State Bank of India, and Axis Bank Ltd added positively to the Nifty 50 index.

Bharti Airtel Ltd., Infosys Ltd., Hindalco Industries Ltd., ITC Ltd., and Mahindra & Mahindra Ltd weighed on the indices.

On NSE, seven out of 12 sectors declined, while five advanced. The Nifty PSU Bank rose over 2% to become the top gainer among sectoral indices. The Nifty FMCG declined the most among sectoral indices.

Broader markets were trading on a mixed note, with the S&P BSE Midcap trading 0.02% down, and the S&P BSE Smallcap trading 0.08% down.

On BSE, 11 sectors out of 20 fell, while nine rose. The S&P BSE Oil and Gas declined the most among sectoral indices, while the S&P BSE Consumer Durables rose the most.

The market breadth was skewed in favour of sellers. Around 1,932 stocks declined, while 1,111 stocks advanced, and 95 remained unchanged.

• Zomato Ltd had 44.5 lakh shares or 0.1% equity changed hands in a pre-market large trade.

• Buyers and sellers are not known immediately.

Source: Bloomberg

At pre-open, the NSE Nifty 50 was 17.55 points or 0.08% higher at 21,735.50, and the BSE Sensex was 0.03% or 22.03 points down at 71,410.29.

• The yield on the 10-year bond opened flat at 7.08%.

Source: Bloomberg

• The local currency opened flat at Rs 82.96 against the U.S dollar.

Source: Bloomberg

• Glenmark Life Sciences Ltd's open offer for acquisition of 17.33% stake by Nirma to open on Feb 15, close on Feb 29.

Source: Exchange filing

• U.S. Dollar Index at 104.15

• U.S. 10-year bond yield at 4.14%

• Brent crude up 0.04% at $81.66 per barrel

• Nymex crude up 0.17% at $76.35 per barrel

• GIFT Nifty down 26 points or 0.12% lower at 21,758.50 as of 7:20 a.m. 

• Bitcoin was up 0.06% at $45,359.19

• Harsha Engineer: To meet analysts and investors on Feb. 13.

• HEG: To meet analysts and investors on Feb. 13.

• Credo Brands: To meet analysts and investors on Feb. 15.

• Cera Sanitaryware: To meet analysts and investors on Feb. 15.

• Welspun Enterprise: To meet analysts and investors on Feb. 14.

• Ex/record date dividend: Procter & Gamble Hygiene and Health Care, Greenpanel Industries, RITES, KPIT Technologies, Sun Pharmaceutical Industries, MOIL, Shanthi Gears, Triveni Engineering & Industries, Bharat Electronics.

• Moved into short-term ASM framework: BF Utilities, EIH Associated Hotels, EIH, Sanghvi Movers, SMC Global Securities,

• Moved Out of short-term ASM framework: VLS Finance.

• ION Exchange: Promoter Group Bimal Jain sold 31,641 shares from Jan 30 to Feb. 7.

• Paisalo Digital: Promoter Equilibrated Venture Cflow acquired 14.62 lakh shares on Feb. 8.

• Medplus Health Services: Promoter Agilemed Investments created a pledge of 4.3 lakh shares on Feb. 8.

• Kalyan Jewellers: Highdell Investment sold 3.83 crore shares (3.72%) at Rs 339.59 apiece, 79.39 lakh shares (0.77%) at Rs 334 apiece and 2.24 crore shares (2.17%) at Rs 334 apiece while Motilal Oswal Mutual Fund bought 1.79 crore shares (1.74%) at Rs 344.2 apiece, Nomura Funds Ireland bought 54.25 lakh shares (0.52%) at Rs 334 apiece. The Master Trust Bank of Japan Ac Nomura India Investment Fund Mother Fund bought 1.3 crore shares (1.26%) at Rs 334 apiece.

• Mankind Pharma: Arjun Juneja sold 24 lakh shares (0.58%), Puja Juneja sold 22.70 lakh shares (0.56%) at Rs 2107.35 apiece, Sheetal Arora sold 18.16 lakh shares (0.44%) at Rs 2107.35 apiece while New World Fund bought 17.66 lakh shares (0.44%) at Rs 2107.35 apiece, Government of Singapore bought 16.8 lakh shares (0.41%).

• Jupiter Wagons: Vanderbilt University sold 40 lakh shares (1%) at Rs 384.21 apiece.

• Knowledge Marine and Engineering Works: Kanak Sujay Kewalramani sold 1.2 lakh shares (1.11%), while Bandhan Mutual Fund bought 1.47 lakh shares (1.36%) at Rs 1,580.5 apiece.

• Avalon Technologies: Goldman Sachs India sold 14.93 lakh shares (2.28%), while HDFC Mutual Fund bought 14.31 lakh shares (2.18%) at Rs 474 apiece.

• Bharat Bijlee: Nishtha Investment and Consultancy Services Private Limited bought 0.46 lakh shares (0.82%) at Rs 5892.45 apiece.

• Paradeep Phosphates: Goldman Sachs India sold 74.74 lakh shares (0.91%) at Rs 76.05 apiece.

• Salasar Techno Engineering: Dream Achiever Consultancy Services bought 45 lakh shares (1.42%) at Rs 32.25 apiece.

• Tourism Finance Corp: Shruti Mohta sold 5.33 lakh shares (0.59%) at Rs 206.95 apiece.

• Entero Healthcare Solutions: The company will offer its shares for bidding on Friday. The price band is set from Rs 1,195-1,258 per share apiece. The 1,600 crore IPO includes both a fresh issue of Rs 1,000 crore and an offer for sale of 600 crore. The company has raised Rs 716.4 crore from anchor investors.

• Rashi Peripherals: The public issue was subscribed to 3.19 times on day 2. The bids were led by non-institutional investors (5.88 times), retail investors (3.46 times), and institutional investors (0.72 times).

• Jana Small Finance Bank: The public issue was subscribed to 1.83 times on day 2. The bids were led by non-institutional investors (3.05 times), retail investors (2.31 times), and institutional investors (0.19 times) and reserved for employees (0.83 times)

• Capital Small Finance Bank: The public issue was subscribed to 1.19 times on day 2. The bids were led by non-institutional investors (1.03 times), retail investors (1.34 times), and institutional investors (1.06 times).

• Telecom Stocks: The Union Cabinet announced its approval for a 10,523 MHz spectrum auction this fiscal year, with a reserve price of Rs 96,317 crore. The auction will be held for spectrum in the 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz, and 26 GHz frequency bands, with a validity period of 20 years. (Reliance Industries, Bharti Airtel, and Vodafone Idea will be in focus.)

• One 97 Communications: Paytm Payments Bank board member Manju Agarwal has resigned from the company, people with knowledge of the matter told NDTV Profit. Agarwal, who served on the board as an independent director, resigned with effect from Feb. 1 this year.

• Zee Entertainment Enterprise: The market regulator, in an interim order, has asked several guest experts on Zee Business to repay Rs 7.41 crore in alleged unlawful gains made by taking positions opposite to their on-air advice.

• Bharat Heavy Electricals: The company received an order worth Rs 5,500 crore from Haryana Power Generation Corp. for up to a 1x800 MW ultra-supercritical expansion unit in Haryana.

• TVS Supply Chain Solutions: The company signed a settlement agreement in relation to certain disputes. TVS Australia will make aggregate payments amounting to $6 million.

• Trident: The company granted a patent for a soft-profiled terry fabric with an improved loop configuration.

• Sequent Scientific: The company proposed the sale of land measuring 7,481 square metres for Rs 7.82 crore.

• Balmer Lawrie: The company will establish a 200 kilo liters per day first-generation grain-based ethanol plant in Andhra Pradesh.

• IRCTC: The company signed a Memorandum of Understanding with the Uttarakhand government to operate tourist trains in the state.

• Dynamatic Technologies: The company was awarded a large order from Europe-based multinational company Airbus to manufacture and assemble doors for Airbus' A220 family of aircraft.

• Signatureglobal (India): The company entered into a joint development agreement for 20.32 acres located in Gurugram. The land has an overall potential developable area of approximately 2.84 million square feet.

Alkem Laboraties, Bajaj Hindustan Sugar, Bandhan Bank, Campus Activewear, Caplin Laboratories, Cello World, Datamatics Global Services, Dish TV India, Doms Industries, Easy Trip Planners, Emami, Finolex Cables, Gujarat Mineral Development Corp, Godrej Industries, Grauer and Weil (India), Happy Forgings, Hero MotoCorp, Honasa Consumer, Housing and Urban Development, IFCI, Indigo Paints, Inox Green Energy, Inox Wind, Indian Railway Finance Corp, Indian Tourism Development Corp, Inox Wind Energy, Jain Irrigation Systems, Jupiter Life Line Hospitals, Kennametal India, Kirloskar Industries, Kovai Medical Center and Hospital, Landmark Cars, Max Estate, Mishra Estates, Mold-Tek Packaging, MRF, Neogen Chemical, The New India Assurance Company, Paras Defence and Space Technologies, Pfizer, PI Industries, Prakash Industries, PSP Projects, Reliance Infrastructure, Shree Renuka Sugar, Sapphire Foods, Saregama India, Shipping Corporation of India, SJVN, Sunflag Iron and Steel, Tata Power, Tega Industries, Vesuvius India, Vindhaya Telelinks, Vishnu Prakash R Punglia, VA Tech Wabag, and Zydus Lifesciences.

Aarti Industries Q3 FY24 (Consolidated, YoY)

• Revenue up 3.8% at Rs 1,732 crore vs Rs 1,668 crore (Bloomberg estimate: Rs 1,662.30 crore).

• Ebitda down 10% at Rs 260 crore vs Rs 289 crore (Bloomberg estimate: Rs 273.94 crore).

• Margin down 231 bps at 15% vs 17.3% (Bloomberg estimate: 16.50%).

• Net profit down 9.5% at Rs 124 crore vs Rs 137 crore (Bloomberg estimate: Rs 109.10 crore).

Power Finance Corp Q3 FY24 (Consolidated, YoY)

• Total income up 20% at Rs 23,593.4 crore vs Rs 19,662.7 crore.

• Net profit up 20.1% at Rs 6,294.4 crore vs Rs 5,241.1 crore.

• Declared interim dividend of Rs 3.5 per share.

KNR Constructions Q3 FY24 (Consolidated, YoY)

• Revenue up 13.8% at Rs 996 crore vs Rs 875 crore.

• Ebitda up 14.7% at Rs 225.9 crore vs Rs 196.9 crore.

• Margin up 18 bps at 22.7% vs 22.5%.

• Net profit up 25.3% at Rs 135.7 crore vs Rs 108.3 crore.

Patanjali Foods Q3 FY24 (YoY)

• Revenue down 0.2% at Rs 7,910.7 crore vs Rs 7,926.6 crore (Bloomberg estimate Rs 7951.60 crore).

• Ebitda down 6.5% at Rs 344 crore vs Rs 368 crore (Bloomberg estimate Rs 405.60 crore).

• Margin down 29 bps at 4.3% vs 4.6% YoY (Bloomberg estimate 5.10%).

• Net profit down 19.6% at Rs 216.5 crore vs Rs 269.2 crore (Bloomberg estimate Rs 269.40 crore).

ESAF Small Finance Bank Q3 FY24

• NII up 32% at Rs 597 crore vs Rs 451.4 crore YoY.

• Net profit at Rs 112.1 crore vs Rs 37.41 crore YoY.

• Gross NPA at 4.16% vs 2.64% QoQ.

• Net NPA at 2.19% vs 1.19% QoQ.

Ratnamani Metals and Tubes Q3 FY24 (Consolidated, YoY)

• Revenue up 14.42% at Rs 1,257.25 crore vs Rs 1,098.71 crore (Bloomberg estimate Rs 1,189.50 crore).

• Ebitda up 0.64% at Rs 200.32 crore vs Rs 199.04 crore (Bloomberg estimate Rs 226.00 crore).

• Margin down 218 bps at 15.93% vs 18.11% (Bloomberg estimate 19.00%).

• Net profit down 0.96% at Rs 132.79 crore vs Rs 134.09 crore (Bloomberg estimate Rs 159.90 crore).

Rail Vikas Nigam Q3 FY24 (Consolidated, YoY)

• Revenue down 6.4% at Rs 4,689.3 crore vs Rs 5,012.1 crore (Bloomberg estimate Rs 5,405.80 crore).

• Ebitda down 9.6% at Rs 249.1 crore vs Rs 275.67crore (Bloomberg estimate Rs 335.20 crore).

• Margin down 18 bps at 5.3% vs 5.5% (Bloomberg estimate 6.20%).

• Net profit down 6.2% at Rs 358.6 crore vs Rs 382.4 crore (Bloomberg estimate Rs 385.60 crore).

Global Health Q3 FY24 (Consolidated, YoY)

• Revenue up 19.91% at Rs 832.6 crore vs Rs 694.32 crore.

• Ebitda up 32.59% at Rs 212.11 crore vs Rs 159.97 crore.

• Margin up 243 bps at 25.47% vs 23.03%.

• Net profit up 53.25% at Rs 123.54 crore vs Rs 80.61 crore.

Shilpa Medicare Q3 FY24 (Consolidated, YoY)

• Revenue up 9.1% at Rs 286.5 crore vs Rs 262.5 crore.

• Ebitda at Rs 65.97 crore vs Rs 31.29 crore.

• Margin up 1,110 bps at 23% vs 11.9%.

• Net profit of Rs 4.58 crore vs loss of Rs 6.62 crore.

• Approved the fund-raising of Rs 500 crore.

Hindustan Construction Q3 FY24 (Consolidated, YoY)

• Revenue up 8.6% at Rs 1,474.47 crore vs Rs 1,357.62 crore.

• Ebitda at Rs 238.72 crore vs loss of Rs 144.31 crore.

• Margin at 16.19%.

• Net profit at Rs 233.22 crore vs loss of Rs 283.72 crore.

• Alert: Company has gain of Rs 198 crore in exceptional Item.

SKF India Q3 FY24 (Consolidated, YoY)

• Revenue up 1.4% at Rs 1,092.3 crore vs Rs 1,077.2 crore (Bloomberg estimate: Rs 1181.13 crore).

• Ebitda down 6.3% at Rs 172.47 crore vs Rs 184.06 crore (Bloomberg estimate: Rs 192.50 crore).

• Margin down 129 bps at 15.8% vs 17.1% (Bloomberg estimate: 16.30%).

• Net profit up 13.3% at Rs 132.2 crore vs Rs 116.7 crore (Bloomberg estimate: Rs 121.85 crore).

Neuland Laboratories Q3 FY24 (Consolidated, YoY)

• Revenue up 45.89% at Rs 392.82 crore vs Rs 269.25 crore (Bloomberg estimate: Rs 363.50 crore).

• Ebitda at Rs 121.26 crore vs Rs 54.08 crore (Bloomberg estimate: Rs 104.00 crore).

• Margin up 1078 bps at 30.86% vs 20.08% (Bloomberg estimate: 28.60%).

• Net profit at Rs 81.39 crore vs Rs 30.55 crore (Bloomberg estimate: Rs 65.80 crore).

DCX Systems Q3 FY24 (Consolidated, YoY)

• Revenue down 44.34% at Rs 198.15 crore vs Rs 355.95 crore.

• Ebitda down 36.54% at Rs 14.6 crore vs Rs 23.01 crore.

• Margin up 90 bps at 7.36% vs 6.46%.

• Net profit down 21.8% at Rs 13.38 crore vs Rs 17.11 crore.

Balmer Lawrie and Company Q3 FY24 (Consolidated, YoY)

• Revenue up 15.68% at Rs 594.63 crore vs Rs 514.01 crore.

• Ebitda up 67.03% at Rs 83.55 crore vs Rs 50.02 crore.

• Margin up 431 bps at 14.05% vs 9.73%.

• Net profit up 89.14% at Rs 65.67 crore vs Rs 34.72 crore.

HealthCare Global Enterprises Q3 FY24 (Consolidated, YoY)

• Revenue up 10.62% at Rs 468.95 crore vs Rs 423.91 crore.

• Ebitda up 3.96% at Rs 77.7 crore vs Rs 74.74 crore.

• Margin down 106 bps at 16.56% vs 17.63%.

• Net profit down 18.33% at Rs 3.43 crore vs Rs 4.2 crore.

Honeywell Automation India Q3 FY24 (YoY)

• Revenue up 5.25% at Rs 1071 crore vs Rs 1017.5 crore.

• Ebitda up 23.15% at Rs 160.6 crore vs Rs 130.4 crore.

• Margin up 217 bps at 14.99% vs 12.81%.

• Net profit up 20.54% at Rs 127.9 crore vs Rs 106.1 crore.

Schnieder Electric Infrastructure Q3 FY24 (YoY)

• Revenue up 29.5% at Rs 743.87 crore vs Rs 574.38 crore.

• Ebitda up 87.33% at Rs 110.45 crore vs Rs 58.96 crore.

• Margin up 458 bps at 14.84% vs 10.26%.

• Net profit at Rs 90.97 crore vs Rs 43.52 crore.

Sandhar Technologies Q3 FY24 (Consolidated, YoY)

• Revenue up 23.1% at Rs 889.52 crore vs Rs 722.55 crore.

• Ebitda up 35.16% at Rs 88.59 crore vs Rs 65.54 crore.

• Margin up 88 bps at 9.95% vs 9.07%.

• Net profit up 28.4% at Rs 25.36 crore vs Rs 19.75 crore.

Jai Corp Q3 FY24 (Consolidated, YoY)

• Revenue down 17.64% at Rs 106.89 crore vs Rs 129.78 crore.

• Ebitda up 12.26% at Rs 11.9 crore vs Rs 10.6 crore.

• Margin up 296 bps at 11.13% vs 8.16%.

• Net profit up 43.5% at Rs 11.94 crore vs Rs 8.32 crore.

LIC Q3 FY24 (Standalone, YOY)

• Net premium income up 4.7% at Rs 1,17,016.9 crore vs Rs 1,11,787.6 crore.

• Net profit up 49.1% at Rs 9,444.4 crore vs Rs 6,334.2 crore.

• VNB up 14% at Rs 4,636 crore vs Rs 4,081 crore.

• VNB margin at 17.66% vs 14.96%.

Sandhur Maganese and Iron Ores Q3 FY24 (Consolidated, YoY)

• Revenue down 60.56% at Rs 153.02 crore vs Rs 387.92 crore.

• Ebitda down 74.34% at Rs 17.08 crore vs Rs 66.57 crore.

• Margin down 599 bps at 11.16% vs 17.16%.

• Net profit down 76.31% at Rs 9.81 crore vs Rs 41.41 crore.

Ramco Cements Q3 FY24 (Consolidated, YoY)

• Revenue up 4.93% at Rs 2,110.88 crore vs Rs 2,011.57 crore (Bloomberg estimate Rs 2,253.07 crore).

• Ebitda up 40.09% at Rs 396.53 crore vs Rs 283.05 crore (Bloomberg estimate Rs 420.27 crore).

• Margin up 471 bps at 18.78% vs 14.07% (Bloomberg estimate 18.70%).

• Net profit up 59.28% at Rs 81.57 crore vs Rs 51.21 crore (Bloomberg estimate: Rs 117.80 crore).

ITD Cementation India Q3 FY24 (Consolidated, YoY)

• Revenue up 52% at Rs 2,017.2 crore vs Rs 1,327 crore (Bloomberg estimate Rs 1,849.40 crore).

• Ebitda up 96.9% at Rs 204.8 crore vs Rs 104 crore. (Bloomberg estimate Rs 178.10 crore).

• Margin up 231 bps at 10.15% vs 7.83% (Bloomberg estimate 9.60%).

• Net profit at Rs 78.59 crore vs Rs 36.88 crore. (Bloomberg estimate Rs 64.60 crore).

AstraZeneca Pharma (YOY)

• Revenue up 22.4% at Rs 305.79 crore vs Rs 249.81 crore.

• Ebitda down 58.86% at Rs 15.05 crore vs Rs 36.58 crore.

• Margin Down 972 bps at 4.92% vs 14.64%.

• Net profit down 46.07% at Rs 15.8 crore vs Rs 29.3 crore.

Torrent Power Q3 FY24 (Consolidated, YoY)

•  Revenue down 1.2% at Rs 6,366.09 crore vs Rs 6,442.79 crore.

• Ebitda down 27.68% at Rs 1,044.06 crore vs Rs 1,443.67 crore.

• Margin down 600 bps at 16.4% vs 22.4%.

• Net profit down 46.1% at Rs 374.13 crore vs Rs 694.54 crore.

JK Lakshmi Cement Q3 FY24 (Consolidated, YoY)

• Revenue up 9% at Rs 1,702.8 crore vs Rs 1561.7 crore (Bloomberg estimate: Rs 1,696.16 crore).

• Ebitda up 64.7% at Rs 305.1 crore vs Rs 185.3 crore (Bloomberg estimate: Rs 254.04 crore).

• Margin at 17.9% vs 11.9% (Bloomberg estimate: 15.00%).

• Net profit up 93.9% at Rs 150.2 crore vs Rs 77.4 crore (Bloomberg estimate: Rs 127.34 crore).

• Appointed Bharat Hari Singhania as Chairman Emeritus for life term & strategic advisor to the Board effective April 1.

• Declared interim dividend for Rs 2 per share.

Orchid Pharma Q3 FY24 (Consolidated, YoY)

• Revenue up 38.07% at Rs 220.59 crore vs 159.76 crore (Bloomberg estimate Rs 218.60 crore).

• Ebitda up 159% at Rs 35.38 crore vs 13.66 crore (Bloomberg estimate Rs 29.5 crore).

• Margin up 748 bps at 16.03% vs 8.55% (Bloomberg estimate: 13.50%).

• Net profit up 288.25% at Rs 29.43 crore vs Rs 7.58 crore (Bloomberg estimate Rs 25.90 crore).           

United Breweries Q3 FY24 (Consolidated, YoY)

• Revenue up 12.28% at Rs 1,824.46 crore vs Rs 1,613.02 crore (Bloomberg estimate: Rs 1824.54 crore).

• Ebitda up 89.53% at Rs 146 crore vs Rs 77.03 crore (Bloomberg estimate: Rs 213.30 crore).

• Margin up 322 bps at 8% vs 4.77%, (Bloomberg estimate: 11.70%).

• Net profit of Rs 85.8 crore vs loss of Rs 1.81 crore (Bloomberg estimate: Rs 112.87 crore).

Biocon Q3 FY24 (Consolidated, YoY)

• Revenue up 34.42% at Rs 3,953.7 crore vs Rs 2,941.1 crore (Bloomberg estimate: Rs 3,673.71 crore).

• Ebitda up 43.84% at Rs 926.8 crore vs Rs 644.3 crore (Bloomberg estimate: Rs 833.69 crore).

• Margin up 153 bps at 23.44% vs 21.9% (Bloomberg estimate: 22.70%).

• Net profit at Rs 753.3 crore vs loss of Rs 20.7 crore (Bloomberg estimate Rs 152.59 crore).

• CFO Indranil Sen resigned effective from March 15.

MSTC Q3 FY24 (Consolidated, YoY)

• Revenue down 1.5% at Rs 184.97 crore vs Rs 187.77 crore.

• Ebitda up 3.9% at Rs 64.61 crore vs Rs 62.18 crore.

• Margin up 181 bps at 34.92% vs 33.11%.

• Net profit down 9.68% at Rs 49.97 crore vs Rs 55.33 crore.

Ircon International Q3 FY24 (Consolidated, YoY)

• Revenue up 22.91% at Rs 2,884.22 crore vs Rs 2,346.51 crore.

• Ebitda up 29.04% at Rs 213.37 crore vs Rs 165.35 crore.

• Margin up 35 bps at 7.39% vs 7.04%.

• Net profit up 28.78% at Rs 244.7 crore vs Rs 190 crore.

Sharda Motor Industries Q3 FY24 (Consolidated, YoY)

• Revenue up 0.45% at Rs 689.12 crore vs Rs 686 crore.

• Ebitda up 46.97% at Rs 94.33 crore vs Rs 64.18 crore.

• Margin up 433 bps at 13.68% vs 9.35%.

• Net profit up 63.86% at Rs 75.97 crore vs Rs 46.36 crore.

Grasim Q3 FY24 Results (Consolidated, YoY)

• Revenue up 11.61% at Rs 31,965.48 crore vs Rs 28,637.86 crore.

• Ebitda up 41.16% at Rs 6,893.43 crore vs Rs 4,883.3 crore.

• Margin at 21.56% vs 17.05%.

• Net profit down 41.55% at Rs 2,603.4 crore vs Rs 4,454.6 crore.

Bombay Dyeing Q3 FY24 (Consolidated, YoY)

• Revenue down 43.37% at Rs 369.22 crore vs Rs 651.97 crore.

• Ebitda loss at Rs 24.21 crore vs profit of Rs 39.78 crore.

• Net profit at Rs 3053.97 crore vs loss of Rs 100.78 crore.

• Alert: Exceptional profit worth Rs ,880.54 crore from sale of land parcel in Worli.

Astra Microwave Products Q3 FY24 (Consolidated, YoY)

• Revenue up 4.86% at Rs 231.02 crore vs Rs 220.3 crore.

• Ebitda up 29.9% at Rs 66.15 crore vs Rs 50.92 crore.

• Margin up 551 bps at 28.63% vs 23.11%.

• Net profit up 56.71% at Rs 43.38 crore vs Rs 27.68 crore.

HIKAL Q3 FY24 (Consolidated, YoY)

• Revenue down 18.56% at Rs 438.54 crore vs Rs 538.45 crore.

• Ebitda down 23.48% at Rs 55.73 crore vs Rs 72.83 crore.

• Margin down 81 bps at 12.7% vs 13.52%.

• Net profit down 38.88% at Rs 16.14 crore vs Rs 26.41 crore.

ASTER DM healthcare Q3 FY24 (Consolidated, YoY)

• Revenue up 16.24% at Rs 3,710.61 crore vs Rs 3,192.14 crore (Bloomberg estimate Rs 3,497.35 crore).

• Ebitda up 25.73% at Rs 564.14 crore vs Rs 448.67 crore (Bloomberg estimate Rs 489.05 crore).

• Margin up 114 bps at 15.2% vs 14.05%, (Bloomberg estimate: 14.00%).

• Net profit up 31.56% at Rs 209.22 crore vs Rs 159.03 crore (Bloomberg estimate: Rs 73.35 crore).

Indian Shelter Finance Q3 FY24 (Consolidated, YoY)

• Total income up 32.2% at Rs 176.81 crore vs Rs 133.74 crore.

• Net profit up 53.68% at Rs 18.78 crore vs Rs 12.22 crore.

Equity markets in Asia were trading higher on Friday as fresh gains on Wall Street boosted stocks.

The Nikkei 225 was trading 0.64% higher at 37,100.06, and the S&P ASX 200 was trading up 0.19% at 7,653.70.

Markets in mainland China, South Korea, and Taiwan are closed for the observance of the new year. Bourses in Hong Kong and Singapore are closed for half a day on Friday, according to Bloomberg.

The S&P 500 index hit the 5,000 mark for the first time intraday and ended 0.06% up at the fresh closing level on Thursday. The Nasdaq Composite rose by 0.24%, and the Dow Jones Industrial Average rose by 0.13%.

Brent crude was trading 3.06% higher at $81.63 a barrel. Gold was lower by 0.11% at $2,032.19 an ounce.

The GIFT Nifty was trading 26 points, or 0.12%, lower at 21,758.50 as of 7:20 a.m.

India’s benchmark equity indices closed lower on Thursday as the FMCG sector dragged the most, followed by banks after the RBI failed to announce any measures to ease tight liquidity. The NSE Nifty 50 ended 212.55 points, or 0.97%, lower at 21,717.95, and the Sensex closed 723.57 points, or 1%, down at 71,428.43.

Overseas investors remained net sellers of Indian equities for the second consecutive session on Thursday.

Foreign portfolio investors offloaded stocks worth Rs 4,933.7 crore on Thursday; domestic institutional investors remained net buyers and mopped up equities worth Rs 5,512.3 crore, the NSE data showed.

The Indian rupee closed flat at Rs 82.96 against the U.S. dollar.