Indian shares ended flat on Wednesday as gains in heavyweight RIL, TCS and HDFC capped losses in banking stocks. The Sensex ended 19 points lower at 51,309 while the Nifty fell 3 points higher to settle at 15,106.
Meanwhile, the broader markets outperformed benchmarks with the midcap and smallcap up 0.7 each.
Among sectors, the Nifty Auto rose the most, up around 1 percent followed by the pharma index, which gained 0.7 percent. Meanwhile, Nifty IT added 0.4 percent. However, the Nifty Bank index underperformed, down 0.7 percent and Nifty Fin Services shed 0.2 percent for the day.
Here are the key stocks that moved today:
Max Financial: Shares of Max Financial surged over 5 percent after the company reported strong Q3FY21 numbers. It posted a 54 percent jump in its consolidated net profit at Rs 227 crore in the third quarter of the current fiscal year. It reported a profit of Rs 147 crore in the same quarter last financial year. Its consolidated revenue rose 68 percent to Rs 8,990 crore YoY due to higher investment income, the company said in an exchange filing.
Muthoot Finance: The share price of gold loan financier Muthoot Finance rallied over 6 percent after the company reported strong earnings for the third quarter of fiscal 2021. The company’s standalone net profit in Q3FY21 rose 22 percent to Rs 991.4 crore from Rs 815.2 crore, YoY. On a consolidated basis, the company’s net profit increased 16.9 percent to Rs 1,006.7 crore from Rs 861 crore, YoY. During the quarter, the company’s gold loan portfolio increased by Rs 3,389 crore to Rs 49,622 crore i.e., QoQ growth of 7 percent.
Adani Ports: Adani Ports & SEZ declined after the company reported its earnings for the quarter ended December 2020. The company’s consolidated net profit in Q3FY21 rose 15.4 percent to Rs 1,561.47 crore from Rs 1,352.17 crore, while revenue increased 29 percent to Rs 3,746.49 crore from Rs 2,901.95 crore, YoY. However, Nomura downgraded the stock to Neutral saying a strong earnings outlook is likely factored in.
Page Industries: Shares of Page Industries rose over 5 percent following a strong performance by the company in the December quarter. The company reported a 77 percent year-on-year (YoY) growth in profit after tax (PAT) of Rs 153.7 crore on the back of healthy operational performance.
Varroc Engineering: Shares of Varroc Engineering fell over 7 percent after the company reported a disappointing set of numbers for the December 2020 quarter (Q3FY21). It reported a consolidated net loss of Rs 29.1 crore for the quarter under review, against a net profit of Rs 29.3 crore in Q3FY20. Revenue from operations, however, increased 25 percent at Rs 3,493 crore over the previous year quarter.
(Edited by : Pranati Deva)