Today’s top morning headlines - 13th February 2024

Good afternoon

Markets are trading flat, with the NIFTY50 hovering around the 21,650 level as of 1:00 pm. Here are the top stories for the day!

Top gainer: Coal India: 450 ▲ 18 (+4.2%)
Top loser: Hindalco: 501 ▼ 81 (-13.9%)

:star:Hindalco falls 10% ahead of Q3 results
Hindalco Industries hits lower circuits ahead of its Q3 results. Novelis, a subsidiary of Hindalco reported a revenue of $121 million, which is tenfold increase compared to last year’s revenue.

:star:BLS International Services gains after Q3 result
Shares of BLS International Services rose more than 2% today after the company reported 90% YoY growth in its consolidated net profit to ₹87.2 crore for the quarter ended 31 December. Meanwhile, its revenue from operations was flat at ₹437.9 crore. Higher Q3 profitability was supported by strong operating performance and low base of last year.

:star:Coal India soars on robust Q3 results
Shares of India’s largest coal producer are up more than 4% today. This comes after Coal India’s Q3 net profit rose 17% year-on-year to ₹9,069 crore. This was aided by a 3% year-on-year rise in revenue to ₹36,154 crore. Meanwhile, the company also declared a dividend of ₹5.25 per share. The record date for the dividend is 20 February 2024.

:star:Allcargo Logistics tanks on weak Q3 result
Shares of the logistics player are down 4% today. This comes after the company reported an 88% drop in its net profit to ₹17 crore. The management said that the performance in the December quarter was impacted by significant losses in select markets in the US and Germany.