Good afternoon
Markets are trading in the green, with the NIFTY50 trading above 21,700 as of 2:00 pm. Here are the top stories for the day!
Top gainer: ONGC: 253 ▲ 19 (+8.2%)
Top loser: Cipla: 1,331 ▼ 38 (-2.8%)
Adani Green rises robust Q3 numbers
Shares of Adani Green Energy rose 4.5% today, reacting to upbeat quarterly results announced by the company. Its consolidated net profit was at ₹256 crore compared to ₹ 103 crore net profit in the corresponding quarter of last year. Meanwhile, its revenue from operations was up 17% YoY at ₹2,311 crore. EBITDA up 95% at ₹1,666 crore.
HDFC Bank gains after LIC gets RBI nod to stake increase
Shares of India’s largest private bank are up 1% today. This comes after the Indian central bank gave its approval to LIC for buying an additional 4.8% stake in the lender.
SBI Card plunges as asset quality worsens
Shares of the pure-play credit card player are down 5% today. This comes after its Q3 asset quality deteriorated. The gross non-performing assets or NPAs increased to 2.6% of the loan book in the December quarter, compared to 2.3% in the same period last year.
Sun Pharma hits 52-week high
Shares of the pharma major are up 4% today after hitting a 52-week high of ₹1,420 per share. This comes after Sun Pharm’s Israel-based subsidiary Taro Pharmaceutical Industries reported better than expected Q3 earnings. Taro Pharma’s Q3 revenue rose 13% YoY to $157.14 million, while its net profit stood at $20.2 million, against a profit of $7.3 million in the corresponding quarter of last year.