Except Nifty Bank, other sectoral indices ended in the red. BSE midcap and smallcap indices shed 0.4 percent each.
The benchmark indices ended lower for the fifth consecutive session on January 28, with selling seen in the IT, auto and FMCG names. At close, the Sensex was down 535.57 points, or 1.13%, at 46,874.36, and the Nifty was down 150 points, or 1.07%, at 13,817.50.
Maruti Suzuki | CMP: Rs 7,600 | The stock was down over 3 percent after the automaker reported a 24.1 percent year-on-year (YoY) rise in Q3FY21 standalone net profit at Rs 1,941.4 crore. In the corresponding quarter of the previous financial year, profit numbers were Rs 1,564.8 crore. The profit number beat Street expectations as a CNBC-TV18 poll had estimated the number to the tune of Rs 1,833 crore. The company reported a 13.3 percent YoY rise in Q3 standalone revenue at Rs 23,457.8 crore against Rs 20,706.8 crore in Q3FY20.
Axis Bank | CMP: Rs 667.10 | The stock price jumped over 5 percent after the private lender reported a 36.4 percent year-on-year (YoY) decline in standalone profit for the quarter ended December 2020, with elevated provisions (up 33 percent YoY). The profit for the quarter stood at Rs 1,116.6 crore against Rs 1,757 crore in the corresponding period last year.
Tata Power | CMP: Rs 77.40 | The stock price added 2 percent after Tata Power Solar received a “Letter of Award” (LoA) to build 95 MW of ground-mounted Solar PV project for GSECL. The order value of the project is approximately Rs 460 crore ($ 63 Million). The commercial operation date for this project is set for April 2022.
IDBI Bank | CMP: Rs 28.20 | The share price gained over a percent after the bank reported a net profit at Rs 378.4 crore against a loss of Rs 5,763 crore YoY. NII was up 18.1 percent at Rs 1,809.5 crore against Rs 1,532.4 crore (YoY). Gross NPA at 23.52 percent against 25.08 percent (QoQ). Net NPA was at 1.94 percent against 2.67 percent (QoQ).
Colgate Palmolive | CMP: Rs 1,563.25 | The stock ended in the green after the company’s consolidated net profit was up 24.7 percent at Rs 248.4 crore against Rs 199.1 crore (YoY). Consolidated revenue was up 7.4 percent at Rs 1,232 crore against Rs 1,147.2 crore (YoY). Consolidated EBITDA gained 17.3 percent at Rs 370.6 crore against Rs 316 crore (YoY).
Bharti Airtel | CMP: Rs 572.40 | The share ended in the green after the telecom major added 43.7 lakh users versus 36.7 lakh users for the month of November. Reliance Jio added 19.36 lakh users versus 22.28 lakh users and Vodafone Idea lost 28.9 lakh users versus a loss of 26.56 lakh users, MoM. Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
DB Corp | CMP: Rs 80.80 | The stock added over a percent after the company declared its Q3 results. The company’s consolidated Q3 net profit rose 21.3 percent YoY at Rs 99 crore against Rs 81.6 crore. Its revenue was down 17.4 percent at Rs 494.3 crore versus Rs 598.7 crore.
Tata Coffee | CMP: Rs 112.20 | The stock price ended in the green. The company reported a 20 percent YoY rise in its December quarter consolidated net profit to Rs 50.18 crore. Total income rose to Rs 538.19 crore in the fiscal third quarter from Rs 505.75 crore in the year-ago period.
Route Mobile | CMP: Rs 1,142.70 | The stock shed 10 percent on January 28. The company reported a consolidated net profit of Rs 38 crore for the quarter ended December, up from Rs 19 crore in the year-ago period. The consolidated revenue from operations rose 46 percent to Rs 385 crore.
Welspun Corp | CMP: Rs 123.50 | The share shed over 2 percent after net profit was down 11 percent at Rs 199 crore against Rs 223.5 crore (YoY). Revenue declined 51.7 percent at Rs 1,393.5 crore against Rs 2,888 crore (YoY). EBITDA fell 49.2 percent at Rs 186.3 crore against Rs 366.6 crore (YoY). EBITDA margin stood at 13.4 percent against 12.7 percent (YoY).
Sandip Das
