Sensex up 150 pts, Nifty atop 21750; RIL, pvt banks lead

Max Healthcare buys Nagpur-based Alexis Hospital for Rs 412 cr; stock down 1%

Earnings ALERT:: Finolex Cables Q3 net slips 5%; stock plunges 6%

Finolex Cables Q3FY24 net profit slipped 5.3 per cent to Rs 127.75 crore as against Rs 134.87 crore in Q3FY23. Total income, however, was up 7 per cent YoY at Rs 1,266.71 crore.

ONGC in talks to restart Libya operations, expand in Venezuela: Report; stock down 2%

India’s Oil and Natural Gas Corp is in talks to restart its operations in Libya and to increase production in Venezuela, a company executive said on Friday. READ MORE

Petronet draws Rs 40,000 cr investment plan to increase profit by 2028

Petronet LNG Ltd, the operator of the world’s largest liquefied natural gas (LNG) import terminal, will invest Rs 40,000 crore in expanding import capacity and petrochemicals with a target to treble net profit by 2028, its CEO A K Singh said. READ MORE

Earnings ALERT:: Igarashi Motors Q3 net up 16%; stock trades flat

Igarashi Motors Q3FY24 net profit rose 16.4 per cent to Rs 1.56 crore as against Rs 1.34 crore in Q3FY23. Total income increased 2.2 per cent YoY at Rs 174.49 crore.

This Mukul Agrawal-owned pharma stock has zoomed over 200% in 9 months

Neuland Lab hit a new high of Rs 6,910, and rallied 6% after the company reported robust earnings with profit after tax more-than-doubled to Rs 80.7 crore in Q3FY24. READ MORE

IndianOil, Adani Gas JV to invest $300 million to double gas sales

The joint venture aims to double gas sales in four years and strengthen infrastructure to more than 600 retail outlets during the period to meet India’s rising gas demand, Jha added. READ MORE

NTPC, Gail: How to trade these 5 stocks that turned ex-dividend this week?

As many as 49 stocks turned ex-dividend on the bourses this week. Here’s a quick chart check on select five among them. READ MORE

Earnings ALERT:: Emami Q3 net rises 12%; stock up 1%

Emami today posted a 11.9 per cent growth in Q3 consolidated net at Rs 260.65 crore for the quarter ended December 2023 as against Rs 232.97 crore in the year ago period. Total income was up 2.4 per cent YoY at Rs 1,013.03 crore.

BSE Mid & SmallCap indices sink 3%: What’s driving the underperformance?

The broader market breadth was weak with 2,813 stocks declining and 823 gaining on the BSE. READ MORE

Equity MFs see 35th consecutive month of inflows, sectoral funds lead the way

Equity schemes experienced a surge in inflows, reaching approximately Rs 21,780 crore in Jan 2024, compared to Rs 16,997 crore in Dec 23. READ MORE

BAT stake sale, tax overhang: 4 reasons why Jefferies has downgraded ITC

Supply overhang: BAT is the largest shareholder in the cigarettes-to-hotel major with a holding of 29.03 per cent, worth Rs 1.5 trillion. A likely sale of 4 per cent by BAT to comply with the Indian norms of 25 per cent, Jefferies said would be valued at $2.5 billion and create a supply overhang in the Indian market that may be difficult to absorb immediately and cap the upside in the counter. READ MORE

Paytm e-commerce renamed ‘Pai Platforms’, acquires ONDC seller firm Bitsila

“… The name of the company has been changed from Paytm E-Commerce Private Limited to Pai Platforms Private Limited with effect from the date of this certificate… The company was originally incorporated with the name Paytm E-Commerce Private Limited,” according to a Registrar of Companies notification dated February 8. READ MORE

Q3 result :: MRF reports profit of Rs 508 crore vs Rs 169 crore YoY

After beating HK mkts, India surpasses trading volumes of HK Exchange

The likely headwinds identified by Nomura are a cyclical slowdown in the economy from a high base, leading to some earnings downgrades; rising concerns of tighter banking sector liquidity; likely profit taking/trimming heading into the General elections and stretched investor positioning and valuations. Among global factors, likely reallocation of flows back to other large Asia (ex-Japan) markets like Korea and China is seen as a factor weighing on the domestic market performance. READ MORE

Escorts Kubota plunges 10%, hits 5-month low on disappointing Q3 results

The management said the domestic tractor industry is expected to see a 6-7 per cent Y-o-Y decline in volumes in FY24, led by a high base of last year, and an erratic and deficient rainfall. Commercial demand is also likely to be soft due to a weakness in construction and mining. Q4 volumes could see a 12-13 per cent Y-o-Y decline. READ MORE