Market gains for the second day in a row
A divergent trend among various index constituents resulted in small gains for key benchmark indices. The barometer index, the S&P BSE Sensex, rose 50.29 points or 0.21% to settle at 24,485.95. The 50-unit Nifty 50 index rose 13.70 points or 0.18% to settle at 7,436.15. The Sensex hit 1-1/2-week closing high and the Nifty settled at over one week high. The two key benchmark indices edged higher for the second trading session in a row.
Index heavyweight and cigarette major ITC edged higher in volatile trade after announcing its third quarter results. HDFC Bank eked out small gains after announcing decent Q3 results. Shares of oil exploration and production companies rose after a rebound in crude oil prices, which also helped the Cairn India stock shrug off weak third quarter results. Shares of public sector oil marketing companies (PSU OMCs) fell after a rebound in crude oil prices.
The market breadth indicating the overall health of the market was strong. On BSE, 1,730 shares gained and 924 shares fell. 166 shares were unchanged. The BSE Mid-Cap index rose 0.24%. The BSE Small-Cap index rose 0.94%. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 2599 crore, lower than turnover of Rs 3498.12 crore registered during the previous trading session.
In overseas stock markets, European stocks fell as oil prices reversed earlier gains and as weak business sentiment numbers from Germany highlighted growing concerns about the outlook for the global economy. Earlier during the global day, Asian shares edged higher on speculation that the Japan's central bank will increase its asset-purchase program at its meeting later this week, on 28-29 January 2016. US stocks ended sharply higher during the previous trading session on Friday, 22 January 2016, as oil futures surged and investors were encouraged by hints of potential central-bank stimulus in Europe and Japan. At a news conference after the conclusion of European Central Bank's (ECB) regular policy review, ECB President Mario Draghi signalled last week that the ECB governing council may provide more stimulus at its next meeting in March, noting that the outlook for inflation had weakened significantly.
The Sensex rose 50.29 points or 0.21% to settle at 24,485.95, its highest level since 14 January 2016. The Sensex jumped 214.91 points or 0.87% at the day's high of 24,650.57. The barometer index fell 1.99 points or 0.01% at the day's low of 24,433.67.
The Nifty rose 13.70 points or 0.18% to settle at 7,436.15, its highest closing level since 15 January 2016. The Nifty rose 64.70 points or 0.87% at the day's high of 7,487.15. The index shed 1.25 points or 0.01% at the day's low of 7,421.20.
Among the sectoral indices on BSE, the S&P BSE Energy index (up 0.29%), the S&P BSE IT index (up 0.31%), the S&P BSE Realty index (up 0.50%), the S&P BSE Finance index (up 0.55%), the S&P BSE Basic Materials index (up 0.97%), the S&P BSE Healthcare index (up 0.97%), the S&P BSE Consumer Durables index (up 1.34%) and the S&P BSE Metal index (up 1.58%) outperformed the Sensex. The S&P BSE Capital Goods index (down 0.90%), the S&P BSE Auto index (down 0.69%), the S&P BSE Utilities index (down 0.61%), the S&P BSE Power index (down 0.40%), the S&P BSE Industrials index (down 0.32%), the S&P BSE Oil & Gas index (down 0.23%), the S&P BSE Telecom index (up 0.02%), the S&P BSE FMCG index (up 0.11%), the S&P BSE Consumer Discretionary Goods & Services index (up 0.16%) and the S&P BSE Teck index (up 0.18%) underperformed the Sensex. The S&P BSE Bankex rose 0.21%, matching Sensex's gain in percentage terms.
Index heavyweight and cigarette major ITC edged higher in volatile trade after announcing its third quarter results. The stock gained 0.44% at Rs 310. The stock hit high of Rs 311.80 and low of Rs 304.25 in intraday trade. The company's net profit rose 0.67% to Rs 2652.82 crore on 3.46% rise in total income to Rs 9854.66 crore in Q3 December 2015 over Q3 December 2014. The result hit the market at the closing bell on Friday, 22 January 2016.
ITC said that its performance in Q3 December 2015 remained subdued, reflecting the severe pressure on legal cigarette industry volumes, lack of trading opportunities in agri-commodities and sluggish demand environment prevailing in the FMCG industry. The performance of the company's cigarettes business remained muted in Q3 December 2015 due to taxation and regulatory headwinds facing the legal cigarette industry in India. The company added that it continues to engage with the concerned authorities, both at the central government and state level, highlighting the need for moderation in tax rates on cigarettes to maximise the revenue potential from the tobacco sector, arrest the growth of the illegal cigarette segment and protect the interest of the Indian tobacco farmer.
Index heavyweight and engineering and construction major L&T dropped 2.78% to Rs 1,110.25. The stock hit high of Rs 1,158.15 and low of Rs 1,110 in intraday trade.
Shares of state-run gas transmission and distribution firm GAIL (India) lost 2.94% to Rs 356.65. The stock hit high of Rs 371 and low of Rs 354.25 in intraday trade.
Shares of public sector banks declined. Punjab National Bank (down 0.81%), Allahabad Bank (down 0.65%), Bank of Baroda (down 0.31%), State Bank of India (SBI) (down 0.9%), Union Bank of India (down 1.25%), Canara Bank (down 1.26%) and Bank of India (down 0.3%) edged lower.
Shares of private sector banks were mixed. Axis Bank (down 1.3%), Kotak Mahindra Bank (down 0.72%), Federal Bank (down 2.78%) and Yes Bank (down 0.52%) edged lower. ICICI Bank (up 1.83%) and IndusInd Bank (up 0.7%) gained.
HDFC Bank rose 0.94% after net profit rose 20.12% to Rs 3356.84 crore on 22.45% rise in total income to Rs 18283.31 crore in Q3 December 2015 over Q3 December 2014. Provisions and contingencies rose 16.67% to Rs 653.88 crore in Q3 December 2015 over Q3 December 2014. The result was announced during market hours today, 25 January 2016.
The bank's gross non-performing assets (NPA) edged higher to Rs 4255.20 crore as on 31 December 2015 from Rs 3827.77 crore as on 30 September 2015 and Rs 3467.91 crore as on 31 December 2014. The bank's ratio of gross NPAs to gross advances stood at 0.97% as on 31 December 2015, compared with 0.91% as on 30 September 2015 and 0.99% as on 31 December 2014. The bank's ratio of net non-performing assets (NPAs) to net advances stood at 0.29% as on 31 December 2015, compared with 0.25% as on 30 September 2015 and 0.26% as on 31 December 2014.
Index heavyweight and housing finance major HDFC advanced 1.39% to Rs 1,174. The stock hit high of Rs 1,183.50 and low of Rs 1,156 in intraday trade. HDFC after market hours on Friday, 22 January 2016, announced that the company has filed term sheet for issuing secured redeemable non-convertible debentures aggregating Rs 725 crore on private placement basis. The coupon rate on debentures is 8.6% per annum. The tenor of the debentures is three years and one month. The issue opens and closes on the same day on 27 January 2016. The proceeds would be utilized for financing/refinancing the housing finance business requirements of the company, HDFC said.
Shares of oil exploration and production companies rose after a rebound in crude oil prices. Oil India (up 0.42%) and ONGC (up 1.48%) edged higher. Higher crude oil prices would result in higher realization from crude sales for oil exploration firms.
Index heavyweight Reliance Industries (RIL) shed 0.38% to Rs 1,000.15. The stock hit high of Rs 1,018.40 and low of Rs 1,000.15 in intraday trade.
Cairn India shrugged off weak third quarter results. The stock jumped 5.23%. The company's consolidated net profit fell 99.35% to Rs 8.69 crore on 44.53% decline in total income to Rs 2230.19 crore in Q3 December 2015 over Q3 December 2014. The weak performance was primarily due to decline in crude prices. The EBITDA (earnings before interest, taxes, depreciation and amortization) margin dropped to 33% in Q3 December 2015 from 60% in Q3 December 2014. The result was announced after market hours on Friday, 22 January 2016.
Cairn India said it maintains its view to ramp-up the investment as oil prices improve and costs bottom out. The company aims to have healthy cash flows post capex so as to retain the ability to pay dividends, Cairn India said in a statement.
Shares of public sector oil marketing companies (PSU OMCs) fell after a rebound in crude oil prices. BPCL (down 0.83%), HPCL (down 0.16%) and Indian Oil Corporation (IOCL) (down 2.5%) declined. Higher crude oil prices could increase under-recoveries of PSU OMCs on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.
Brent for March settlement was currently off 94 cents at $31.24 a barrel. The contract had surged $2.93 a barrel or 10.01% to settle at $32.18 a barrel during the previous trading session.
Most auto stocks declined. Mahindra & Mahindra (M&M) (down 1.15%), Maruti Suzuki India (down 0.69%), Eicher Motors (down 0.54%), and Hero MotoCorp (down 2.48%) declined. Bajaj Auto (up 0.06%), TVS Motor Company (up 1.3%) and Ashok Leyland (up 1.05%) gained.
Metal and mining stocks gained on renewed buying. JSW Steel (up 4.1%), Tata Steel (up 2.61%), Steel Authority of India (Sail) (up 0.58%), Hindustan Zinc (up 3.4%) and Hindustan Copper (up 0.61%) edged higher. Jindal Steel & Power (down 0.83%) and Hindalco Industries (down 0.48%) fell.
Vedanta shed 0.39%. NMDC rose 0.31%. Iron-ore prices surged in global markets on Friday, 22 January 2016, on hopes of increased demand after media reports suggested that Brazilian miner Vale, the world's largest producer of iron-ore, was ordered by a local court to temporarily shut down its Port of Tubarao over alleged environmental breaches.
Coal India (up 1.6%) and National Aluminium Company (Nalco) (up 1.16%) edged higher. Bharat Heavy Electricals (Bhel) fell 0.91%. As per reports, the government has asked Bhel, Coal India, Nalco and NMDC to consider buyback of shares. The government is falling short in meeting its divestment target for the current fiscal year which is the reason why it has asked four leading public sector companies to consider buyback of shares, according to reports.
The government currently holds 63.06% stake in Bhel (as per shareholding pattern as on 31 December 2015). The government currently holds 79.65% stake in Coal India (as per shareholding pattern as on 30 September 2015). The government currently holds 80% stake in NMDC (as per shareholding pattern as on 30 September 2015). The government currently holds 80.93% stake in Nalco (as per shareholding pattern as on 31 December 2015).
Pharma stocks were mixed. Sun Pharmaceutical Industries (up 2.19%), Aurobindo Pharma (up 0.87%), Wockhardt (up 1.68%), Dr Reddy's Laboratories (up 0.24%), Glenmark Pharmaceuticals (up 0.58%) and Cadila Healthcare (up 0.4%) gained. Lupin (down 1.15%), Divi's Laboratories (down 0.05%) and Alkem Laboratories (down 0.86%) fell.
Cipla shed 0.49%. The company announced after market hour on Friday, 22 January 2016, that it ceases to hold any stake in Biomab Holding, Hong Kong (Biomab) as the company has completed the transfer formalities in relation to the divestment of its entire 25% stake held in Biomab. Cipla had announced on 28 October 2015 that it has entered into a definitive agreement to sell its entire 25% stake in Biomab to Biomab Brilliant Limited, British Virgin Islands which holds the remaining 75% stake in BHL for a total consideration of $25.77 million.
Unichem Laboratories surged 6.38% after net profit spurted 897.1% to Rs 20.54 crore on 15.6% growth in net sales to Rs 303.93 crore in Q3 December 2015 over Q3 December 2014. The result was announced on Saturday, 23 January 2016.
SpiceJet surged 11.5% after the company reported net profit of Rs 238.40 crore in Q3 December 2015 as against net loss of Rs 275.03 crore in Q3 December 2014. SpiceJet said that it reported its highest quarterly net profit in its history. The company's net sales rose 10.92% to Rs 1439.38 crore in Q3 December 2015 over Q3 December 2014. The result was announced at the fag end of the trading session on Friday, 22 January 2016.
Supreme Industries rose 2.35% after consolidated net profit rose 133.02% to Rs 82.14 crore on 6.07% decline in total income to Rs 1002.14 crore in Q3 December 2015 over Q3 December 2014. The result was announced during trading hours today, 25 January 2016.
Ashoka Buildcon jumped 7.22% after consolidated net profit spurted 952% to Rs 13.50 crore on 34% growth in total income to Rs 614 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours on Friday, 22 January 2016. Ashoka Buildcon's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 71% to Rs 186 crore in Q3 December 2015 over Q3 December 2014. The company's total engineering, procurement and construction (EPC) order backlog stood at Rs 4186 crore as on 31 December 2015.
Shemaroo Entertainment rose 5.52% after consolidated net profit rose 27.94% to Rs 12.82 crore on 15.72% rise in net sales to Rs 101 crore in Q3 December 2015 over Q3 December 2014. The result was announced on Saturday, 23 January 2016. Shemaroo Entertainment's EBITDA (earnings before interest, taxes, depreciation and amortization) rose 32.9% to Rs 26.92 crore in Q3 December 2015 over Q3 December 2014. EBITDA margin stood at 26.6% in Q3 December 2015 as against 23.1% in Q3 December 2014.
Key indices edged higher for the second day in a row. The Sensex has gained 523.74 points or 2.18% in the preceding two trading sessions from its close of 23,962.21 on 21 January 2016. The Sensex has fallen 1,631.59 points or 6.24% in this month so far (till 25 January 2016). The Sensex is up 646.19 points or 2.71% from a 52-week low of 23,839.76 hit on 20 January 2016. The Sensex is off 5538.79 points or 18.44% from a record high of 30,024.74 hit on 4 March 2015.
The stock market remains closed for the Republic Day holiday tomorrow, 26 January 2016.
Index heavyweight and cigarette major ITC edged higher in volatile trade after announcing its third quarter results. HDFC Bank eked out small gains after announcing decent Q3 results. Shares of oil exploration and production companies rose after a rebound in crude oil prices, which also helped the Cairn India stock shrug off weak third quarter results. Shares of public sector oil marketing companies (PSU OMCs) fell after a rebound in crude oil prices.
The market breadth indicating the overall health of the market was strong. On BSE, 1,730 shares gained and 924 shares fell. 166 shares were unchanged. The BSE Mid-Cap index rose 0.24%. The BSE Small-Cap index rose 0.94%. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 2599 crore, lower than turnover of Rs 3498.12 crore registered during the previous trading session.
In overseas stock markets, European stocks fell as oil prices reversed earlier gains and as weak business sentiment numbers from Germany highlighted growing concerns about the outlook for the global economy. Earlier during the global day, Asian shares edged higher on speculation that the Japan's central bank will increase its asset-purchase program at its meeting later this week, on 28-29 January 2016. US stocks ended sharply higher during the previous trading session on Friday, 22 January 2016, as oil futures surged and investors were encouraged by hints of potential central-bank stimulus in Europe and Japan. At a news conference after the conclusion of European Central Bank's (ECB) regular policy review, ECB President Mario Draghi signalled last week that the ECB governing council may provide more stimulus at its next meeting in March, noting that the outlook for inflation had weakened significantly.
The Sensex rose 50.29 points or 0.21% to settle at 24,485.95, its highest level since 14 January 2016. The Sensex jumped 214.91 points or 0.87% at the day's high of 24,650.57. The barometer index fell 1.99 points or 0.01% at the day's low of 24,433.67.
The Nifty rose 13.70 points or 0.18% to settle at 7,436.15, its highest closing level since 15 January 2016. The Nifty rose 64.70 points or 0.87% at the day's high of 7,487.15. The index shed 1.25 points or 0.01% at the day's low of 7,421.20.
Among the sectoral indices on BSE, the S&P BSE Energy index (up 0.29%), the S&P BSE IT index (up 0.31%), the S&P BSE Realty index (up 0.50%), the S&P BSE Finance index (up 0.55%), the S&P BSE Basic Materials index (up 0.97%), the S&P BSE Healthcare index (up 0.97%), the S&P BSE Consumer Durables index (up 1.34%) and the S&P BSE Metal index (up 1.58%) outperformed the Sensex. The S&P BSE Capital Goods index (down 0.90%), the S&P BSE Auto index (down 0.69%), the S&P BSE Utilities index (down 0.61%), the S&P BSE Power index (down 0.40%), the S&P BSE Industrials index (down 0.32%), the S&P BSE Oil & Gas index (down 0.23%), the S&P BSE Telecom index (up 0.02%), the S&P BSE FMCG index (up 0.11%), the S&P BSE Consumer Discretionary Goods & Services index (up 0.16%) and the S&P BSE Teck index (up 0.18%) underperformed the Sensex. The S&P BSE Bankex rose 0.21%, matching Sensex's gain in percentage terms.
Index heavyweight and cigarette major ITC edged higher in volatile trade after announcing its third quarter results. The stock gained 0.44% at Rs 310. The stock hit high of Rs 311.80 and low of Rs 304.25 in intraday trade. The company's net profit rose 0.67% to Rs 2652.82 crore on 3.46% rise in total income to Rs 9854.66 crore in Q3 December 2015 over Q3 December 2014. The result hit the market at the closing bell on Friday, 22 January 2016.
ITC said that its performance in Q3 December 2015 remained subdued, reflecting the severe pressure on legal cigarette industry volumes, lack of trading opportunities in agri-commodities and sluggish demand environment prevailing in the FMCG industry. The performance of the company's cigarettes business remained muted in Q3 December 2015 due to taxation and regulatory headwinds facing the legal cigarette industry in India. The company added that it continues to engage with the concerned authorities, both at the central government and state level, highlighting the need for moderation in tax rates on cigarettes to maximise the revenue potential from the tobacco sector, arrest the growth of the illegal cigarette segment and protect the interest of the Indian tobacco farmer.
Index heavyweight and engineering and construction major L&T dropped 2.78% to Rs 1,110.25. The stock hit high of Rs 1,158.15 and low of Rs 1,110 in intraday trade.
Shares of state-run gas transmission and distribution firm GAIL (India) lost 2.94% to Rs 356.65. The stock hit high of Rs 371 and low of Rs 354.25 in intraday trade.
Shares of public sector banks declined. Punjab National Bank (down 0.81%), Allahabad Bank (down 0.65%), Bank of Baroda (down 0.31%), State Bank of India (SBI) (down 0.9%), Union Bank of India (down 1.25%), Canara Bank (down 1.26%) and Bank of India (down 0.3%) edged lower.
Shares of private sector banks were mixed. Axis Bank (down 1.3%), Kotak Mahindra Bank (down 0.72%), Federal Bank (down 2.78%) and Yes Bank (down 0.52%) edged lower. ICICI Bank (up 1.83%) and IndusInd Bank (up 0.7%) gained.
HDFC Bank rose 0.94% after net profit rose 20.12% to Rs 3356.84 crore on 22.45% rise in total income to Rs 18283.31 crore in Q3 December 2015 over Q3 December 2014. Provisions and contingencies rose 16.67% to Rs 653.88 crore in Q3 December 2015 over Q3 December 2014. The result was announced during market hours today, 25 January 2016.
The bank's gross non-performing assets (NPA) edged higher to Rs 4255.20 crore as on 31 December 2015 from Rs 3827.77 crore as on 30 September 2015 and Rs 3467.91 crore as on 31 December 2014. The bank's ratio of gross NPAs to gross advances stood at 0.97% as on 31 December 2015, compared with 0.91% as on 30 September 2015 and 0.99% as on 31 December 2014. The bank's ratio of net non-performing assets (NPAs) to net advances stood at 0.29% as on 31 December 2015, compared with 0.25% as on 30 September 2015 and 0.26% as on 31 December 2014.
Index heavyweight and housing finance major HDFC advanced 1.39% to Rs 1,174. The stock hit high of Rs 1,183.50 and low of Rs 1,156 in intraday trade. HDFC after market hours on Friday, 22 January 2016, announced that the company has filed term sheet for issuing secured redeemable non-convertible debentures aggregating Rs 725 crore on private placement basis. The coupon rate on debentures is 8.6% per annum. The tenor of the debentures is three years and one month. The issue opens and closes on the same day on 27 January 2016. The proceeds would be utilized for financing/refinancing the housing finance business requirements of the company, HDFC said.
Shares of oil exploration and production companies rose after a rebound in crude oil prices. Oil India (up 0.42%) and ONGC (up 1.48%) edged higher. Higher crude oil prices would result in higher realization from crude sales for oil exploration firms.
Index heavyweight Reliance Industries (RIL) shed 0.38% to Rs 1,000.15. The stock hit high of Rs 1,018.40 and low of Rs 1,000.15 in intraday trade.
Cairn India shrugged off weak third quarter results. The stock jumped 5.23%. The company's consolidated net profit fell 99.35% to Rs 8.69 crore on 44.53% decline in total income to Rs 2230.19 crore in Q3 December 2015 over Q3 December 2014. The weak performance was primarily due to decline in crude prices. The EBITDA (earnings before interest, taxes, depreciation and amortization) margin dropped to 33% in Q3 December 2015 from 60% in Q3 December 2014. The result was announced after market hours on Friday, 22 January 2016.
Cairn India said it maintains its view to ramp-up the investment as oil prices improve and costs bottom out. The company aims to have healthy cash flows post capex so as to retain the ability to pay dividends, Cairn India said in a statement.
Shares of public sector oil marketing companies (PSU OMCs) fell after a rebound in crude oil prices. BPCL (down 0.83%), HPCL (down 0.16%) and Indian Oil Corporation (IOCL) (down 2.5%) declined. Higher crude oil prices could increase under-recoveries of PSU OMCs on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.
Brent for March settlement was currently off 94 cents at $31.24 a barrel. The contract had surged $2.93 a barrel or 10.01% to settle at $32.18 a barrel during the previous trading session.
Most auto stocks declined. Mahindra & Mahindra (M&M) (down 1.15%), Maruti Suzuki India (down 0.69%), Eicher Motors (down 0.54%), and Hero MotoCorp (down 2.48%) declined. Bajaj Auto (up 0.06%), TVS Motor Company (up 1.3%) and Ashok Leyland (up 1.05%) gained.
Metal and mining stocks gained on renewed buying. JSW Steel (up 4.1%), Tata Steel (up 2.61%), Steel Authority of India (Sail) (up 0.58%), Hindustan Zinc (up 3.4%) and Hindustan Copper (up 0.61%) edged higher. Jindal Steel & Power (down 0.83%) and Hindalco Industries (down 0.48%) fell.
Vedanta shed 0.39%. NMDC rose 0.31%. Iron-ore prices surged in global markets on Friday, 22 January 2016, on hopes of increased demand after media reports suggested that Brazilian miner Vale, the world's largest producer of iron-ore, was ordered by a local court to temporarily shut down its Port of Tubarao over alleged environmental breaches.
Coal India (up 1.6%) and National Aluminium Company (Nalco) (up 1.16%) edged higher. Bharat Heavy Electricals (Bhel) fell 0.91%. As per reports, the government has asked Bhel, Coal India, Nalco and NMDC to consider buyback of shares. The government is falling short in meeting its divestment target for the current fiscal year which is the reason why it has asked four leading public sector companies to consider buyback of shares, according to reports.
The government currently holds 63.06% stake in Bhel (as per shareholding pattern as on 31 December 2015). The government currently holds 79.65% stake in Coal India (as per shareholding pattern as on 30 September 2015). The government currently holds 80% stake in NMDC (as per shareholding pattern as on 30 September 2015). The government currently holds 80.93% stake in Nalco (as per shareholding pattern as on 31 December 2015).
Pharma stocks were mixed. Sun Pharmaceutical Industries (up 2.19%), Aurobindo Pharma (up 0.87%), Wockhardt (up 1.68%), Dr Reddy's Laboratories (up 0.24%), Glenmark Pharmaceuticals (up 0.58%) and Cadila Healthcare (up 0.4%) gained. Lupin (down 1.15%), Divi's Laboratories (down 0.05%) and Alkem Laboratories (down 0.86%) fell.
Cipla shed 0.49%. The company announced after market hour on Friday, 22 January 2016, that it ceases to hold any stake in Biomab Holding, Hong Kong (Biomab) as the company has completed the transfer formalities in relation to the divestment of its entire 25% stake held in Biomab. Cipla had announced on 28 October 2015 that it has entered into a definitive agreement to sell its entire 25% stake in Biomab to Biomab Brilliant Limited, British Virgin Islands which holds the remaining 75% stake in BHL for a total consideration of $25.77 million.
Unichem Laboratories surged 6.38% after net profit spurted 897.1% to Rs 20.54 crore on 15.6% growth in net sales to Rs 303.93 crore in Q3 December 2015 over Q3 December 2014. The result was announced on Saturday, 23 January 2016.
SpiceJet surged 11.5% after the company reported net profit of Rs 238.40 crore in Q3 December 2015 as against net loss of Rs 275.03 crore in Q3 December 2014. SpiceJet said that it reported its highest quarterly net profit in its history. The company's net sales rose 10.92% to Rs 1439.38 crore in Q3 December 2015 over Q3 December 2014. The result was announced at the fag end of the trading session on Friday, 22 January 2016.
Supreme Industries rose 2.35% after consolidated net profit rose 133.02% to Rs 82.14 crore on 6.07% decline in total income to Rs 1002.14 crore in Q3 December 2015 over Q3 December 2014. The result was announced during trading hours today, 25 January 2016.
Ashoka Buildcon jumped 7.22% after consolidated net profit spurted 952% to Rs 13.50 crore on 34% growth in total income to Rs 614 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours on Friday, 22 January 2016. Ashoka Buildcon's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 71% to Rs 186 crore in Q3 December 2015 over Q3 December 2014. The company's total engineering, procurement and construction (EPC) order backlog stood at Rs 4186 crore as on 31 December 2015.
Shemaroo Entertainment rose 5.52% after consolidated net profit rose 27.94% to Rs 12.82 crore on 15.72% rise in net sales to Rs 101 crore in Q3 December 2015 over Q3 December 2014. The result was announced on Saturday, 23 January 2016. Shemaroo Entertainment's EBITDA (earnings before interest, taxes, depreciation and amortization) rose 32.9% to Rs 26.92 crore in Q3 December 2015 over Q3 December 2014. EBITDA margin stood at 26.6% in Q3 December 2015 as against 23.1% in Q3 December 2014.
Key indices edged higher for the second day in a row. The Sensex has gained 523.74 points or 2.18% in the preceding two trading sessions from its close of 23,962.21 on 21 January 2016. The Sensex has fallen 1,631.59 points or 6.24% in this month so far (till 25 January 2016). The Sensex is up 646.19 points or 2.71% from a 52-week low of 23,839.76 hit on 20 January 2016. The Sensex is off 5538.79 points or 18.44% from a record high of 30,024.74 hit on 4 March 2015.
The stock market remains closed for the Republic Day holiday tomorrow, 26 January 2016.
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