Nifty green for 5th day straight, Asian paints profit increases & more
Market Summary
Market closes in the green for 5th consecutive day. Gold & Silver gain some strength.
Companies
Shares of UPL (+5.42%) up after KKR & Company, Brookfield, TPG, & Abu Dhabi Investment Authority showed interest in investing $500-550Mn in 2 wholly-owned subsidiaries of UPL Limited. Birlasoft (+5%) up due to expected positive quarterly results.
Sectors
Nifty PSU BANK (+2%) due to expectations of strong earning recovery in state-owned lenders. Nifty Oil & Gas (+2%) after companies display strong performance.
News of The Day
1. Shares of Logistics and Supply Chain Company Delhivery (-15%) after the Q2 business update. Challenging market conditions and rising inflation dampened profits.(Economic Times)
2. Asian Paints reported a 31% YoY rise in consolidated net profit for the September quarter. (Mint)
3.IndusInd Bank (-5%) after the company reported a profit of Rs 1,787Cr in the September quarter. The profit increased by 60.4% YoY. (Business Today)
4. Air Cooler and Appliance Maker Symphony Ltd reported a 6.67% increase in consolidated profits.( Economic Times)
5. Canara Bank reported a rise of 90% in net profits. The income of the bank rose to Rs 24,932 crore and gross non-performing assets declined to 6.37% ( NDTV Profit)
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