Today’s top morning headlines - 17th January 2024

Good afternoon

Markets are trading in the red, with the NIFTY50 trading below 21,650 as of 1:00 pm. Here are the top stories for the day!

Top gainer: SBI Life: 1,437 ▲ 28 (+2.0%)
Top loser: HDFC Bank: 1,558 ▼ 120 (-7.1%)

:star:HDFC Bank falls post Q3 results
Shares of India’s largest private sector bank were down 7% today. Experts pointed out that the lender’s Q3 profitability or net interest margin was flat. Also, it reported its first earnings per share decline in a decade.

:star:Larsen & Toubro gains on new orders
The buildings & factories (B&F) division of Larsen & Toubro (L&T) has secured orders in the range of ₹1,000 to ₹2,500 crore in India & Oman. In India, the company secured repeat orders from the Government Planning & Development Authority, Maharashtra. In Oman, the company has been awarded a project to construct a 3-star hotel.

:star:ICICI Lombard shares surge 6%
Shares of the general insurance company are up 6%, trading near their 52-week high. This comes after the company reported a robust set of numbers. Experts point out that the biggest positive is the declining combined ratio – losses and expenses as a percentage of earned premiums.