Among sectors, Nifty bank, metal and PSU bank indices shed 3 percent each, while energy, pharma and infra sectors fell 1 percent each. The auto index added more than a percent.
The benchmark indices saw profit booking the second day in a row. At the close, the Sensex was down 746.22 points, or 1.50%, at 48,878.54, and the Nifty slipped 218.50 points, or 1.50%, to 14,371.90.
Biocon | CMP: Rs 393.10 | The stock tumbled over 11 percent after the pharma major reported a year on year 18 percent fall in consolidated net profit at Rs 186.6 crore for the third quarter of FY21. Biocon’s consolidated revenue for Q3 of FY21 increased 7.2 percent at Rs 1,878.9 crore against Rs 1,752.6 crore in the year-ago period. The generics business reported a 3 percent dip in the third quarter at Rs 561 crore, as against Rs 576 crore in the corresponding period last year.
JK Tyre | CMP: Rs 138.80 | The stock surged 20 percent after the company reported a multi-fold jump in consolidated net profit to Rs 230.46 crore in the third quarter ended December 31, 2020, riding on robust sales and favourable foreign exchange fluctuations. The tyre manufacturer had posted a consolidated net profit of Rs 10.27 crore in the third quarter of the last fiscal, JK Tyre & Industries said in a regulatory filing.
Bajaj Auto | CMP:Rs 4,119.25 | The share jumped over 11 percent after the two-wheeler manufacturer clocked its highest-ever standalone profit of Rs 1,556.3 crore in the December quarter, rising 23.4 percent compared to the year-ago period, driven by volume growth and operating performance. Its revenue increased by 16.6 percent year-on-year to Rs 8,910 crore, which was also the highest for a quarter.
HDFC Bank | CMP: Rs 1,444.35 | The share price was down over 2 percent after the Securities and Exchange Board of India (Sebi) levied a monetary penalty on the bank. Sebi, vide its final order dated January 21, 2021, levied a penalty of Rs 1 crore payable by the bank in terms of Section 15HB of the SEBI Act, in the matter of M/s. BRH Wealth Kreators Limited, for non?compliance with the interim order issued by the regulator concerning the said matter, the company said in the release.
Reliance Industries | CMP: Rs 2,047.95 | The stock price shed 2 percent ahead of its Q3 results. The key focus would remain on its telecom and retail businesses, while the sequential performance is expected to be strong across segments. Brokerages largely see average revenue per user (ARPU) at Rs 149 per month, while in old businesses, gross refining margin is likely at around $ 7 a barrel, with an improvement in the petchem margin QoQ. Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Moneycontrol.
SBI Life Insurance | CMP: Rs 857.65 | The stock shed 2 percent after the private life insurer posted a 40.2 percent year-on-year (YoY) decrease in its profit in the December quarter (Q3) at Rs 232.85 crore on a rise in expenses. The net premium income rose to Rs 13,766.49 crore in Q3 as against Rs 11,694.51 crore.
Ramkrishna Forgings | CMP: Rs 575 | The share was down over 3 percent on January 22. The company’s consolidated net profit came in at Rs 14.8 crore against Rs 2.3 crore (YoY). Consolidated revenue jumped 41.8 percent at Rs 402.9 crore against Rs 284 crore (YoY). Consolidated EBITDA was up 54.4 percent at Rs 75.9 crore against Rs 49.2 crore (YoY).
Indian Bank | CMP: Rs 90.15 | The stock ended in the green after the state-owned bank’s profit more than doubled to Rs 514.28 crore for the third quarter ended December 31. The bank’s profit in the year-ago period stood at Rs 247.16 crore. The total income during the quarter under review was Rs 11,421.34 crore, up from Rs 6,505.62 crore in the same period a year ago.
SRF | CMP: Rs 5,413.65 | The stock price was down more than 6 percent after the company reported a 6 percent fall in its profit to Rs 324 crore in Q3 FY21. Its earnings before interest and tax increased by 42 percent, while revenue grew by 16 percent to Rs 2,146 crore in the same period.
JSW Steel | CMP: Rs 377.70 | The scrip shed 3 percent on January 22. The company reported consolidated net profit at Rs 2,669 crore against Rs 187 crore(YoY). Consolidated revenue was up 21.1 percent at Rs 21,859 crore against Rs 18,055 crore (YoY). Consolidated EBITDA was at Rs 5,946 crore against Rs 2,451 crore (YoY).
Sandip Das
