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%)
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.
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.
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.
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.