Adani Enterprise(+7%), Sun Pharma 8% rise in profit & more
Nifty closes with healthy gains despite banks’ underperformance.
Adani Enterprise(+7%) gains as Adani Data Network has been granted a unified licence for access services which enables it to provide all telecom services in the country. NTPC(+6%) raises after the company reported a 5.5% increase in profits. Axis Bank(-4%) falls after Bain Capital sells 1.3% stake in the bank.
Nifty Pharma (+3%) gains due to the strong Q2 performance of pharmaceutical companies. Nifty PSU Bank(-1%) falls due to weak performance of state banks.
News of The Day
1. Shares of Indian Music Label Saregama (+4%) raises to Rs 388 after profit rises by 36%(Economic Times)
2.Shares of Packaging Company AGI Greenpac (+6%) gains after the company reported a strong performance in the September quarter and the acquisition of Hindusthan National Glass. (Economic Times)
3. Shares of Pharma Major Sun Pharma (+2%) raises to Rs 1,037Cr after the company reported an 8.2% YoY rise in net profits (Economic Times)
4.UPL reported a 28.4% rise in consolidated net profits. The company's revenue rose by 18.4% YoY to Rs 12,507 crore.(Economic Times)
5. Adani Ports Q2 profit jumps by 68% YoY to Rs 1678 crore.( Economic Times)
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