SI Reporter
SI Reporter
Page 12 - Si Reporter
Sensex, Nifty end flat amid late sell-off; IT, broader indices hold gains
CLOSING BELL: The BSE Sensex hit a fresh calendear year high at 61,682, before forfeiting most gains at close. Midcap, Smallcap indices gained nearly a per cent Thursday.
 "Sensex, Nifty end flat amid late sell-off; IT, broader indices hold gains")
PI Industries extends rally, soars 12% in two days on better growth outlook
The management is confident of delivering 20 per cent plus revenue growth with continued improvement in margins and returns.
 "PI Industries extends rally, soars 12% in two days on better growth outlook")
IT shares in focus; TCS hits 9-mth high; Tech Mahindra surges 11% in 2 days
Thus far in calendar year 2023, the Nifty IT index has outperformed the market by surging 10 per cent, as compared to 0.55 per cent decline in the Nifty 50
 "IT shares in focus; TCS hits 9-mth high; Tech Mahindra surges 11% in 2 days")
Shares of ONGC, Oil India fire up as govt slashes windfall tax sharply
The reduction of windfall tax will reduce cess of domestic oil production companies like ONGC and Oil India.
 "Shares of ONGC, Oil India fire up as govt slashes windfall tax sharply")
Sensex jumps 243 pts on late buying, Nifty reclaims 18,000; RIL gains 2%
CLOSING BELL: The BSE Sensex gained more than 600 points from the day's low; Tech Mahindra, Bharti Airtel and auto shares were the other major gainers on Wednesday.
 "Sensex jumps 243 pts on late buying, Nifty reclaims 18,000; RIL gains 2%")
Rupa & Co, Dollar Ind, Kitex Garments hit 52-wk lows on weak Q3 results
However, Kitex Garments said the company's order book in queue for 2023-24 indicates achieving a better performance in Q1 and normal performance by Q2
 "Rupa & Co, Dollar Ind, Kitex Garments hit 52-wk lows on weak Q3 results")
Finolex Cables hits over 4-yr high; stock up 15% in a week post strong Q3
Finolex Cables said that the Union budget 2023 direct benefits to various segment of the company
 "Finolex Cables hits over 4-yr high; stock up 15% in a week post strong Q3")
Eicher Motors rallies 5% on better than expected Q3 earnings
Management commentary suggests some raw material decline benefits along with price hike to come in effect from Q4FY23 onwards amid robust demand for its product profile .
 "Eicher Motors rallies 5% on better than expected Q3 earnings")
Siemens gains 3%, hits record high on strong operational performance in Q1
Overall, Siemens is expected to further strengthen its leadership position through further penetration of automation and digitization products & services across segments, ICICI Securities said
 "Siemens gains 3%, hits record high on strong operational performance in Q1")
Bharat Forge dips 7% on weak performance of overseas subsidiaries in Q3
The company's overseas operations posted an EBITDA loss of Rs 62 crore in December quarter due to ramp up related issues of the new Al forgings capacities in Germany and the US
 "Bharat Forge dips 7% on weak performance of overseas subsidiaries in Q3")
ITC, RIL, ICICI Bank help lift Sensex 600 pts higher, Nifty above 17,900
CLOSING BELL: Sensex and Nifty indices snapped their 2-day losing run, ralling on Tuesday as supportive global cues, ease in WPI inflation, and healthy buying in heavyweights lifted sentiment.
 "ITC, RIL, ICICI Bank help lift Sensex 600 pts higher, Nifty above 17,900")
Adani Enterprises bounces 17% from day's low on massive jump in Q3 profit
For Q3FY23, Adani Enterprises' consolidated profit after tax (PAT) came in at Rs 820 crore as against a loss of Rs 12 crore in the same quarter last fiscal (Q3FY22)
 "Adani Enterprises bounces 17% from day's low on massive jump in Q3 profit")
Stock of this smallcap company has zoomed over 50% in four trading days
Shares of WPIL were locked in the 10 per cent upper circuit on the BSE at 01:09 PM. The stock also hit a new high of Rs 1,791.65
 "Stock of this smallcap company has zoomed over 50% in four trading days")
ITC gains 3% a day ahead of turning ex-dividend; stock nears record high
With a modest 1 per cent increase in duty on cigarettes and improving outlook for FMCG and Hotels, brokerages think ITC is well positioned for a strong FY24.
 "ITC gains 3% a day ahead of turning ex-dividend; stock nears record high")
Zee Entertainment dips 4%, nears 52-week low on weak Q3 results
The company said advertisement revenue YoY growth impacted due to FTA withdrawal (Zee Anmol) and slowdown in FMCG spends due to challenging macro-economic environment.
 "Zee Entertainment dips 4%, nears 52-week low on weak Q3 results")
Brokerages downgrade Lupin post weak Q3; see up to 17% downside
Lupin shares fell 7.5 per cent to Rs 681 apiece on the BSE in the intra-day trade
 "Brokerages downgrade Lupin post weak Q3; see up to 17% downside")
Natco Pharma jumps 4% on filing generic version of oncology drug in US
The drug major filed an abbreviated new drug application (ANDA) for generic versions of Olaparib tablets - 100 mg and 150 mg with the US Food and Drug Administration (USFDA)
 "Natco Pharma jumps 4% on filing generic version of oncology drug in US")
Info Edge slumps 10% on Rs 116 cr Q3 loss; writes-off invst in 4B Network
The losses in the recent quarter mainly accrued as the company wrote off its investment in property tech start-up 4B Networks. It had invested Rs 276 crore in the start-up as of September 2022
 "Info Edge slumps 10% on Rs 116 cr Q3 loss; writes-off invst in 4B Network")
City Union Bank shares crash 13.5% after Q3 earnings dip on quarterly basis
According to analysts, CUB's results had several areas of weakness this quarter
 "City Union Bank shares crash 13.5% after Q3 earnings dip on quarterly basis")
Balkrishna Industries tanks over 11% as Q3 profit plunges 68% YoY
Its revenue from operations increased marginally by around 6 per cent to Rs 2,165.57 crore in Q3
 "Balkrishna Industries tanks over 11% as Q3 profit plunges 68% YoY")