Adani Ports (+5%), Hindalco (-5%) & more
Market sees profit booking, Nifty slip 1% from highs
Adani Ports (+5%) rises due to strong quarterly earnings. Coal India (+3%) rises after the company decided to pay a dividend of Rs 15 due to strong Q2 earnings. Hindalco (-5%) plunges after Novelis Q2 income drops by 23%.
Nifty PSU Bank(+4%) rises after the strong performance of PNB, BOB and Canara Bank. Nifty Pharma (-2%) plunges due to the bad performance of Cipla, Sun Pharma and Divis Labs.
News of The Day
1. Shares of Hindalco plunged by (-5 %) to Rs 418 after Novelis ( a wholly-owned subsidiary of Hindalco) reported a fall of 23% in net income.(Economic Times)
2.Shares of fast-food chain operator Jubilant FoodWorks plunged by (-7.34%) to Rs 573 after the company reported a 9.76% decline in consolidated net profit for the second quarter of FY23. (Economic Times)
3. Shares of Coal India rose by (+2.42%) after the company reported a 106% ( Rs 6044 Cr) YoY gain in Q2 profits.(Economic Times)
4.National Aluminium Company Limited reported a decline of 83.2% ( Rs 125.43 crore) in consolidated profits.(Economic Times)
5. BEML reported a rise of 52.5% ( Rs 16.26 Cr) in consolidated profit for the July-September quarter. (Economic Times)
Expert of The Day
$300 Bn Electronic Manufacturing Sector by 2026!
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