[24/01 Market Update Maruti Suzuki (+3%) due to Q3 results]
[24/01 Market Update Maruti Suzuki (+3%) due to Q3 results]
Tribe Daily
Market Summary
Nifty ended flat amid volatility and broader indices underperformed.
Companies
Tata Motors (+3%) rose after the company confirmed its delisting from NYSE and termination of the ADS program. Maruti Suzuki (+3%) rose due to stellar Q3 performance. Bajaj Auto (+2%) rose ahead of Q3 earnings report.
Sectors
Nifty Auto (+1%) rose due to a strong recovery in auto sales, new product launches, and improvement in revenue and profitability of auto companies. Nifty IT (+1%) rose due to strong order inflows.
Market News
1. Colgate-Palmolive (-2%) declined after the company's Q3 net profit declined by 3.6% ( to Rs 243.24 cr). (Financial Express)
2. SBI Cards (-2%) declined after Q3 results missed analysts estimates. (The Print)
3.PNB Housing (+5%) rose due to strong Q3 results. (Business Standard)
4.HDFC AMC Q3 profit grew by 2.7% ( to Rs 369 cr).(Money Control)
5.UCO Bank Q3 profit more than doubled to Rs 653 cr. (Devdiscourse)
Market Sentiment
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