Page 21 - Markets

Orient Green Power dec quarter net profit rises 55% to nearly Rs 10 crore

Orient Green Power Company Ltd (OGPL) on Monday posted a 55 per cent rise in its consolidated net profit at Rs 9.74 crore in the quarter ended December 2022. The company's consolidated net profit stood at Rs 6.28 crore in the year-ago period, according to a regulatory filing. However, total income was at Rs 57.33 crore during the October-December quarter, as against Rs 63.30 crore a year ago. Total expenses were Rs 65.78 crore during the quarter under review as compared to Rs 75.68 crore in the corresponding period of the previous year. "Our efforts to reduce the expenses and service the debt on time resulted in improved rating of our SPVs (special purpose vehicles) and reduction in finance costs," T Shivaraman, company's Managing Director and CEO, said in a statement. In addition, the Late Payment Surcharge (LPS) scheme introduced by the ministry of power helped in realising the long pending dues from state-owned discoms, he noted. With improving cash flows, "we are exploring th

Nippon Life India Asset Management Q3 PAT up 18% to Rs 205 crore

Nippon Life India Asset Management Ltd (NAM India) on Monday reported an 18 per cent increase in the profit after tax (PAT) to Rs 205 crore for three months ended December 2022. In comparison, the company had a PAT of Rs 174 crore in the year-ago period, NAM India said in a statement. Also, the company's total income increased to Rs 416 crore in the quarter under review from Rs 369 crore in the third quarter that ended December 2021. "While Q3 was a volatile quarter with a positive bias from a macro standpoint, we grew our assets in the desired segments and increased profitability, driven by emphasis on 'investors' interest', aided by superior fund performance, strong risk management and granular distribution base," Sundeep Sikka, CEO at NAM India, said. Nippon Life India Asset Management is an asset manager of Nippon India Mutual Fund (NIMF). As on December 2022, NAM India's assets under management were Rs 3.6 lakh crore, which include Nippon India Mutual Fund asset base of Rs 2.

L-T profit misses as infrastructure growth eases; net profit rose 24%

BENGALURU (Reuters) -India's Larsen & Toubro reported a smaller-than-expected rise in quarterly profit on Monday, as moderate growth in order inflows hurt the infrastructure company.

Hindenburg vs Adani: Meet Nate Anderson, founder of Hindenburg Research

Anderson shot to fame in 2020 when Hindenburg Research released a report on electric vehicle maker Nikola alleging that the company was 'misrepresenting' the technology

Sensex ends choppy day 170 pts up, Nifty at 17,650; IT stocks lead gains

Closing Bell: Broader markets trailed gains in benchmark indices. The BSE Midcap and Smallcap indices closed up to 0.2 per cent lower

Data Patterns surges 13% on strong Q3 results, healthy order book position

With the expectation of new orders in Q4, the management said the company is focused on improving execution effectiveness to promote operating leverage and maintaining a diversified order book

Adani Enterprises zooms 10% post clarification, other group stocks mixed

Adani Ports and Special Economic Zone (Rs 658.45) and Ambuja Cements (Rs 419.25), too, were locked in their respective 10 per cent upper circuits

Stocks to Watch: Adani Group, Bajaj Finance, Zomato, Tata Motors, L&T, NMDC

Stocks to watch today: In a 413-page document, Adani retaliated against the American short-seller, saying the document was a "malicious combination of selective misinformation and concealed facts"

Securities fraud by the 'Madoffs of Manhattan', says Adani group

It further said the report by Hindenburg Research is nothing but a lie

The emperor's new valuation

Short-sellers have a role to play in market processes - but it is regulators that really make markets move

No change in schedule, issue price of FPO, confident of success: Adani Ent

All our stakeholders including bankers and investors have full faith in the FPO, Adani Enterprise said in a statement

Bankers consider delay, price cut in Adani's $2.5 bn FPO after market rout

Seven listed companies of the conglomerate controlled by Gautam Adani have lost a combined $48 billion in market valuation since Hindenburg report came out

Adani stock rout roils markets; Sensex falls 874 pts, Nifty ends at 17,600

Group loses $50 bn in m-cap in two sessions; Contagion fear drags market, banking stocks

Flows to Indian equities are at risk as investors eye China: Chris Wood

He believes India remains the best long-term equity story in Asian and the emerging market (EM) context

Budget blues: Nifty set for worst run, falls 2.8% in past 3 sessions

The benchmark index is on course for its worst five-day show since the Covid pandemic began in 2020

Sell-off in Adani, bank stocks turn investors poorer by Rs 11 trn in 2 days

The sell-off in Adani Group firms has wiped out $45 billion of investors' wealth over the last two sessions after Hindenburg Research alleged "brazen stock manipulation"

Rout in Adani group shares, banks drag Sensex 874 pts, Nifty ends at 17,600

Closing Bell: Adani Enterprises and Adani Ports were the leading Nifty losers, which ended 18 and 15 per cent lower, respectively. SBI, ICICI Bank, IndusInd Bank were next in line sinking up to 5%

Adani Group stocks sink up to 20%; CLSA sees limited risk to banks

Shares of the group's flagship company Adani Enterprises tumbled 6.2 per cent, while those of Adani Green and Adani Total Gas declined 15.5 per cent and 19.6 per cent, respectively

Pharma, Energy, Commodities indices look bearish on charts: Ravi Nathani

According to the technical analyst, the Nifty Energy index can drop to 24,239, and the Pharma to 12,100.

Stocks to Watch: Adani Group, Tata Motors, Dr.Reddy's, DLF, Airtel, IGL

Stocks to Watch: Adani Enterprises FPO and Earthstahl & Alloys IPO opens for subscription on Friday. Shares of Adani Group companies also likely to be in focus amid the Hindenburg controversy.