Today’s top morning headlines - 13th October 2023

Good afternoon,

Markets are trading in the red, with the NIFTY50 below the 19,700 level as of 12:00 pm. Here are the top stories for the day!

Top gainer: HCL Tech: 1,251 ▲27 (+2.2%)
Top loser: Adani Enterprises: 2,426 ▼ 79 (-3.1%)

:star: HDFC AMC soars after robust Q2 results
Shares of the asset management company rose by 5% intraday after the company reported a 20% jump in net profit at ₹436.5 crore for Q2 FY24 from the previous year’s same quarter. The revenue from operations also rises by 18% to ₹643 crore YoY.

:star: HCL Tech gains post Q2 results
Shares of the IT service provider rose by 2.6% intraday after the company reported a profit of ₹3,832 crore in Q2 FY24, up by 8.4% from the previous quarter. It has also announced a dividend of ₹12 per share.

:star: IRCON and RITES surge after Navratna status grant
Shares of the transport engineering and construction firms rose by 6.7% and 6.9% intraday, respectively. This came after the Government of India granted Navratna status to both companies.

:star: SJVN rises on order win
Shares of the hydroelectric power generator rose by 2.5% intraday after the company announced that its subsidiary has received an order worth ₹600 crore to develop a 100 MW solar power project in Rajasthan.