Indian markets ended lower on Wednesday after hitting record highs in the previous session as investors eyed the US Federal Reserve’s policy statement due later in the day. Indices were weighed by losses in metals, financials and heavyweight RIL.
The Sensex ended 271 points lower at 52,502 while the Nifty fell 102 points to settle at 15,767. Broader markets were also in the red for the day with the midcap index down 1.1 percent and smallcap index down 0.7 percent.
Here are the key stocks that moved today:
Adani Group stocks: Shares of Adani Group companies continue to reel under pressure following media reports that the National Securities Depository Ltd (NSDL) had frozen accounts of three foreign portfolio investors (FPIs) who own more than Rs 43,500 crore worth of shares in Adani Group companies. The stocks of Adani Total Gas, Adani Power, and Adani Transmission hit five percent – their lower circuit limits, while those of Adani Enterprises, Adani Ports & SEZ declined over 7 percent each.
LIC Housing Finance: LIC Housing Finance share price fell over 5 percent after the mortgage firm's net profit declined in the March quarter over a rise in provisions. Its net profit fell 5.33 percent to Rs 398.9 crore in Q4 versus Rs 421.43 crore in the year-ago quarter. During the quarter, provisions stood at Rs 1,000 crore and total disbursements were at Rs 22,362 crore in Q4 FY2021, up 97 percent as against Rs 11,323 crore in the year-ago period.
Jubilant FoodWorks: Shares of Jubilant FoodWorks rose 2 percent after the company reported more than a three-fold jump in its consolidated net profit for its March quarter. Jubilant FoodWorks, the master franchise holder for Domino’s Pizza, posted a net profit of Rs 105.30 crore in Q4FY21 as compared to Rs 32.53 crore in the same quarter last year. Revenue from operations during the quarter rose 14.21 percent to Rs 1,037.85 crore from Rs 908.75 crore, YoY. Domino’s same-store-sales growth came in at 11.8 percent versus the CNBC-TV18 poll of 14-16 percent.
Globus Spirits: Shares of Globus Spirits rose over 4.5 percent after the firm reported a more-than-doubled consolidated profit after tax (PAT) at Rs 50.63 crore in the March quarter (Q4FY21), on the back of strong revenue. It had a PAT of Rs 19.35 crore in the year-ago quarter. In Q4FY21, the company’s gross revenue grew 66 percent year on year (YoY) at Rs 491 crore, backed by an increase in both volume and value, mainly in the consumer business segment.
(Edited by : Pranati Deva)