Indices trade with strong gains; IT shares in demand
Published on Feb 14, 2023 10:32
The domestic equity benchmarks continued to trade with decent gains in morning trade. The Nifty marched towards the 17,850 mark. IT shares witnessed some bit of value buying after a two-day sell off.
At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 281.91 points or 0.47% to 60,713.75. The Nifty 50 index gained 68.20 points or 0.38% to 17,839.10.
In the broader market, the S&P BSE Mid-Cap index fell 0.45% while the S&P BSE Small-Cap index slipped 0.47%
The market breadth was weak. On the BSE, 1,214 shares rose and 1,905 shares fell. A total of 152 shares were unchanged.
Adani Enterprises (down 2.94%), Apollo Hospitals Enterprise (down 0.96%), Grasim Industries (down 0.75%), Oil And Natural Gas Corporation (up 0.27%), NMDC (down 1.77%), PI Industries (down 0.89%), Siemens (down 0.97%), Bharat Forge (up 0.55%), Biocon (down 0.74%), Eicher Motors (down 0.23%), Aster DM Healthcare (up 0.93%), Bata India (down 0.17%), Bosch (up 0.25%), CESC (up 1.28%), EID-Parry (India) (down 2.03%), Eureka Forbes (up 2.57%), GMR Airports Infrastructure (down 0.04%), Ipca Laboratories (up 0.34%), Jindal Poly Films (up 3.05%), Prestige Estates Projects (up 0.02%), Radico Khaitan Radico Khaitan, Rajesh Exports (up 0.12%), SpiceJet (down 2%) and Torrent Power (down 0.40%) are some of the companies that will announce their quarterly earnings today.
The Nifty IT index rose 1.31% to 30,686.40. The index had fallen 2.26% in the past two sessions.
L&T Technology Services (up 2.36%), Persistent Systems (up 1.91%), HCL Technologies (up 1.9%), Infosys (up 1.56%) and LTI Mindtree (up 1.54%) were the top gainers.
Among the other gainers were Tech Mahindra (up 1.48%), Wipro (up 1.1%), Tata Consultancy Services (up 1.07%), Mphasis (up 1.02%) and Coforge (up 0.48%).
Stocks in Spotlight:
Vodafone Idea slipped 1.65%. As per media reports, the teleco has started fresh talks with key lenders, including State Bank of India, Punjab National Bank and HDFC Bank, to refinance Rs 3,000-4,000 crore of loans.
Lumax Auto Technologies declined 2.11%. The company`s revenue for the quarter increased by 4.1% YoY to Rs 445 crore. EBITDA grew 5.2% to Rs 47 crore and EBITDA margin expanded 11bps to 10.6%. PAT stood at Rs 23cr, up 8.3 YoY.
Gujarat State Petronet shed 0.58%. The company`s standalone net revenue was down by 14.6% YoY to Rs 402 crore in Q3 FY23. EBITDA fell by 19.8% YoY to Rs 270 crore and EBITDA margin stood at 67.1% in Q3 FY23 as against 71.4% in Q3 FY22. Net Profit declined by 19.9% YoY to Rs 171 crore during the period under review.
Powered by Capital Market - Live News