[02/02 Market Update] Britannia (+5%) rose due to Q3 results.
[02/02 Market Update] Britannia (+5%) rose due to Q3 results.
Tribe Daily
Market Summary
Nifty ended flat amid a volatile session.
Companies
Britannia (+5%) rose due to stellar Q3 results. IndusInd Bank (+4%) rose as Hinduja Group is planning to raise their stake in the bank to 26% by infusing Rs 8,000 cr to Rs 10,000 cr. Adani Enterprise (-27%) and Adani Ports (-7%) declined after the conglomerate scrapped FPO. UPL (-6%) declined after the firm posted a smaller-than-expected Q3 profit due to higher costs.
Sectors
Nifty FMCG (+2%) rose after the government increased the capital expenditure outlay to boost the middle-class expenditure and support healthy growth momentum.
Market News
1. Dabur India (-1%) declined as Q3 profit fell by 5% to Rs 477 cr. (Money Control)
2.Dr. Lal Path Labs (-1%) declined as Q3 net profit plunged by 7% to Rs 54 cr. (Business Line)
3.APL Apollo Tubes Q3 profit missed analyst estimates due to higher costs. (The Print)
4.HDFC Q3 net profit rose by 13% to Rs 3,691 cr. (Mint)
5.V Guard Industries Q3 consolidated net profit declined by 26.09% to Rs 39.29 cr.(Business Standard)
Market Sentiment
Expert of The Day
Latest Blog:
$300 Bn Electronic Manufacturing Sector by 2026!
Articles You Like to Read
The stars are aligned for the Indian economy. (Source: Money Control)
Budget 2023: Focus on emerging sectors praiseworthy but startups need a helping hand. (Source: Money Control)
Budget 2023: India ready for massive digital expansion, but startups and investors needed more support. ( Source: Money Control)
Latest on our Social:
Follow our Socials
Looking for fantastic content on the stock market, trading and investing?