The BSE Sensex dropped over 200 points, ending in the negative terrain for the fourth straight session on Tuesday, as investors intensified selling towards the fag end of the day, even as global cues remained positive.
Indices failed to hold on to opening gains as profit-taking re-emerged in the later part of the session, wiping off initial gains, with the BSE Sensex settling 241.41 points, or 0.66 percent, down at 36,153.62 points. The gauge had lost 580 points in the previous three sessions.
The broader Nifty finished at 10,831.40, down 57.40 points, or 0.53 percent.
Top losers include Hero MotoCorp, HDFC, SBI, Infosys, HCL Tech, ICICI Bank, Bajaj Finance, ONGC, Bajaj Auto and IndusInd Bank, falling up to 2.63 percent.
On the other hand, Sun Pharma, Coal India, Tata Steel, NTPC, Asian Paints, Vedanta, M&M and RIL were the gainers, rising up to 2 percent.
Hindalco Industries, NCC, HEG, Ipca Laboratories, Karur Vysya Bank, Reliance Home Finance and Hind Rectifiers have reported their Q3 results during market hours.
Hindalco Industries – Miss Shares of the company settled at Rs 198.60 apiece on BSE, down 0.38 percent from its previous closing.
The Aditya Birla Group company has reported a 47.3 percent year-on-year (YoY) jump in net profit at Rs 713 crore for the December 2018 quarter, on lower finance costs. The figure included numbers from its Utkal Alumina unit.
Total revenue rose to Rs 11,938 crore for the third quarter of 2018-19 against Rs 11,044 crore in the same period last year.
The earnings before tax, depreciation, and amortisation (EBITDA) grew 3.5 percent to Rs 1,926 from Rs 1,861 crore in the same period last fiscal.
Total aluminum EBITDA down stood at Rs 1,286 crore. EBITDA of copper down 2 percent at Rs 431 crore.
Shares of Nagarjuna Construction Company settled at Rs
83.55 apiece on the BSE, up 5.76 percent from its previous closing.
The company reported a 70.3 percent YoY jump in net profit to Rs 165.9 crore for the quarter ended on December 31, 2018.
The company's revenue up 63.5 percent to Rs 3378.7 crore for the quarter under review. EBITDA up 63 percent to Rs 414.4 crore for the December quarter.
HEG – Miss
Shares of the company settled at Rs
8.68 percent from its previous closing.
The company reported a 153 percent YoY jump in net profit to Rs 867 crore for the December 2018 quarter. Its revenue grew 121 percent to Rs 1,865 crore for the quarter under review. EBITDA stood at Rs 1,313 crore, up 136 percent.
Ipca – Hit Laboratories Shares of Ipca Laboratories settled at Rs 743.80 apiece on the BSE, up 1.88 percent from its previous closing.
The drug firm posted a 52 percent jump in its net profit at Rs 160.18 crore for the third quarter ended December 31, 2018, led by India formulations and exports. The company had posted a net profit of Rs 105.58 crore for the same period of previous fiscal.
Total income of the company grew 10 percent to Rs 960.22 crore during the quarter under review as against Rs 870.18 crore in the same period of the previous fiscal.
Karur Vysya Bank – Miss
Shares of the bank settled at Rs The private sector lender has reported net profit at Rs 21.20 crore for the
83.30 apiece on the BSE, down 2.29 percent from its previous closing.
October-December 2018 period. The Tamil Nadu-based bank had registered net profit at Rs 71.49 crore during the corresponding period of last year.
For the nine-month period ending December 31, 2018, net profit slipped to Rs 150.85 crore from Rs 295.11 crore. Total income for the October-December 2018 quarter grew to Rs 1,702.65 crore from Rs 1,647.17 crore year ago.
Net NPA of the bank as on December 31, 2018 was at 4.99 percent as against 3.88 percent as on December 31, 2017. Gross NPA as on December 31, 2018, was at 8.49 percent as against 5.94 percent. Total advances grew by Rs 2,930 crore to Rs 47,766 crore, as on December 31, 2017 from Rs 44,836 crore.
Reliance Home Finance
Shares of the company settled at Rs
24.30 apiece on the BSE, down 8.13 percent from its previous closing.
The arm of Reliance Capital posted a 37.5 increase in net profit after tax at Rs 55 crore in three months ended December 31, 2018. The company had reported a net profit after tax of Rs 40 crore in October-December quarter of 2017.
The company's total income rose by 22 per cent to Rs 516 crore in the third quarter ended December 31, 2018, from Rs 424 crore in the year-ago period.
Shares of the company settled at Rs The company has posted a net profit of Rs 3.15 crore for the quarter ended on December 31, 2018. The company's revenue stood at Rs Rs 68.5 crore for the quarter under review.
109.25, apiece on the BSE, up 3.16 percent from its previous closing.