Benchmark indices witnessed another round of profit booking near the monthly high and traded volatile amid mixed global cues. However the domestic sentiments were supportive as Govt has worked out on the path of dual control in GST bill but the lower growth forecast of GDP by IMF has hit the sentiments. Nifty ended the session to close just above the psychological mark of 8400 at 8403.
The FMCG stocks were the major gainers of the day while Metals stocks were the losers for the day.
Global Markets Update
The Hyundai Motor Group said it plans to lift U.S. investment by 50 percent to $3.1 billion over five years and may build a new U.S. plant – the latest auto firm to announce fresh spending after President-elect Donald Trump threatened to tax imports.
European shares were dragged lower by miners and carmakers on Tuesday, as markets awaited details of Britain’s Brexit position in a late morning speech by Prime Minister Theresa May.
Havells India posted 27.5% rise in its Q3 net profit which stood at Rs 153 crore led by other income and one-time gain. Revenue during the quarter up by 13.3 percent to Rs 1622 crore against Rs 1431.6 crore compared on yearly basis driven by cable and electrical consumer durables businesses.
Reliance Industries shares tanks nearly 4% today despite posted 4.1 percent rise in its Q3 standalone profit which stood at Rs 8022 crore. Bottom-line was boosted by other income that grew sharply by 32.7% to Rs 3,025 crore despite higher finance cost.
SBI plans to raise upto USD 500 million from the overseas market. The securities will be issued from SBI’s London branch and will be listed in the Singapore Stock Exchange.
Cairn India reported result for December quarter average gross production across assets was resilient at 181,818 barrels of oil equivalent per day. The production was lower primarily due to planned maintenance shutdown in Rajasthan and natural decline in offshore assets.
Cadila Healthcare Ltd subsidiary Zydus pharma gets license to market its generic version of livalo from may 2, 2023 from Kowa and Nissan.
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