[27/01 Market Update] Bajaj Auto (+6%) due to Q3 earnings
[27/01 Market Update] Bajaj Auto (+6%) due to Q3 earnings
Tribe Daily
Market Summary
Nifty closed at a three-month low as Adani Group shares fall triggered a sharp cut in banks.
Companies
Tata Motors (+6%) rose due to stupendous Q3 results. Bajaj Auto (+6%) rose as Q3 profits beat market expectations. Adani Enterprise (-18%) and Adani Ports (-15%) plunged in the Hindenburg report aftermath.
Sectors
Nifty PSU Bank (-5%) declined due to heavy selling pressure because of its significant exposure to Adani Group. Nifty Auto (+1%) rose due to the strong Q3 earnings of Tata Motors and Bajaj Auto.
Market News
1.Bajaj Finance Q3 profit surged by 40% to Rs 2,973 cr. (Mint)
2.Anupam Rasayan Q3 consolidated net profit surged by 44% to Rs 54.43 cr. (Economic Times)
3.Shree Digvijay Cement Q3 consolidated net profit rose by 40.17% to Rs 10.19 cr.(Business Standard)
4.Kalyani Steels (-1%) declined as the company's Q3 net profit plunged by 8.65% to Rs 39.08 cr. (Business Standard)
5.Vedanta (-2%) declined as the company's Q3 profit tanked by 42% YoY to Rs 3,092 cr. (Economic Times)
Market Sentiment
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