Nifty Bank index fell 0.7 percent dragged by the IndusInd Bank, IDFC First Bank, Kotak Mahindra Bank
Godrej Properties to evaluate potential investment in DB Realty
Godrej Properties granted its approval (subject to approvals required to be obtained by the counter-party, approval by shareholders, execution of definitive documentation and completion of due diligence and other conditions precedent) to evaluate a potential investment in DB Realty Limited in the form of warrants convertible into Equity Shares and the setting up of a special purpose vehicle
as a joint venture with DB Realty Limited to undertake slum rehabilitation and MHADA redevelopment Projects, by leveraging the respective core expertise of the parties, company said in its release.
Godrej Properties was quoting at Rs 1,673.25, down Rs 110.30, or 6.18 percent on the BSE.
Nifty Auto index added 0.5 percent supported by the TVS Motor, Hero MotoCorp, Bajaj Auto
Century Enka Q3 earnings
Century Enka has posted 55.7 percent jump in its net profit at Rs 50.6 crore versus Rs 32.5 crore and 41 percent increase in revenue at Rs 561.9 crore versus Rs 398.4 crore, YoY.
Earnings before interest, tax, depreciation and amortization (EBITDA) was up 28.5 percent at Rs 74.4 crore versus Rs 57.9 crore and margin was at 13.2 percent versus 14.5 percent, YoY.
Century Enka was quoting at Rs 569.90, up Rs 10.80, or 1.93 percent on the BSE.
KNR Constructions subscribes 100% partnership interest in 2 firms
KNR Constructions has subscribed to 100% partnership interest (including that of the contribution of designated partners) in two Limited Liability Partnerships namely a) Manjeri City Infrastructures and Developers LLP and b) Benedire Infrastructures and Developers LLP.
KNR Constructions was quoting at Rs 312.05, down Rs 8, or 2.50 percent on the BSE.
Market at 2 PMBenchmark indices extended the intraday losses with Nifty trading around 17600 amid selling seen in the IT, oil & gas, realty and capital goods stocks. The Sensex was down 624.15 points or 1.05% at 58934.18, and the Nifty was down 176.70 points or 0.99% at 17603.30. About 1611 shares have advanced, 1528 shares declined, and 68 shares are unchanged.
BSE Realty index shed 1 percent dragged by the Godrej Properties, Phoenix Mills, Oberoi Realty
Adani Transmission Q3: Net profit went down 32.5% at Rs 267 crore against Rs 395.3 crore (YoY). Revenue was up 12.8% at Rs 3,083 crore against Rs 2,733 crore (YoY). EBITDA slipped 6% at Rs 1,072.1 crore against Rs 1,140.4 crore (YoY). EBITDA margin at 34.8% against 41.7% (YoY). The stock was trading at Rs 2,014.90, up Rs 0.20, or 0.01 percent. It has touched an intraday high of Rs 2,049.00 and an intraday low of Rs 1,978.45.
GAIL India Q3: Net profit grew 14.8% at Rs 3,288 crore against Rs 2,863 crore (QoQ). Other income at Rs 651.8 crore against Rs 774 crore (QoQ). Tax expenses at Rs 1,020.4 crore against Rs 819.4 crore (QoQ). Revenue rose 19.8% at Rs 25,769.8 crore against Rs 21,511 crore (QoQ). EBITDA grew 22.9% at Rs 4,228.2 crore against Rs 3,440.2 crore (QoQ) while EBITDA margin came in at 16.4% against 16% (QoQ). The stock was trading at Rs 148.20, up Rs 2.50, or 1.72 percent. It has touched an intraday high of Rs 149.25 and an intraday low of Rs 145.15.
Welspun India Q3: Net profit was down 26.8% at Rs 132.4 crore against Rs 180.8 crore (YoY). Revenue was up 19.2% at Rs 2,418.2 crore against Rs 2,029 crore (YoY). EBITDA fell 21.9% at Rs 310.7 crore againt Rs 398 crore (YoY). EBITDA margin at 12.9% against 19.6% (YoY). One-time loss at Rs 35.9 crore. The stock was trading at Rs 138.25, down Rs 4.60, or 3.22 percent. It has touched an intraday high of Rs 144.25 and an intraday low of Rs 137.
European Markets Updates
Radico Khaitan Q3: Net profit slipped 5.9% at Rs 79.1 crore against Rs 84.1 crore (YoY). Revenue was up 12% at Rs 766.1 crore against Rs 684.2 crore (YoY). EBITDA went down 4.5% at Rs 119 crore against Rs 124.6 crore (YoY). EBITDA margin at 15.5% against 18.2% (YoY). The stock was trading at Rs 1,065.20, down Rs 10.70, or 0.99 percent. It has touched an intraday high of Rs 1,104.20 and an intraday low of Rs 1,041.60.
