Benchmark indices traded volatile and ended flat on the third trading session of the week after the RBI kept the key policy rates unchanged and opted to wait for more clarity on trend of inflation.RBI kept repo rate remains unchanged at 6.25%, changing its stance from accommodative to neutral. Market was very much of the opinion of 25 bps cut and the decision has surprised the market. Nifty ended the session to close at 8803.70.
The Media stocks were the gainers for the day while FMCG stocks were the losers of the day.
Global Markets Update
Hyundai Motor said it may procure electric vehicle batteries from Chinese companies for a planned China model after South Korean battery makers failed to make a list of approved vendors last year.
Asian share markets hovered below four-month highs on Wednesday and the euro was pressured as doubts over the policies of U.S. President Donald Trump and a looming election in France sapped investors’ confidence.
Tata Chemicals posted 32% rise in its Q3 net profit which stood at Rs 318.39 crore against Rs 241.84 crore for the same quarter last year. Income from operations tanks to 3494.8 crore compared to Rs 3991.25 crore in the corresponding period of previous year.
Titan shares rallied after company posted an impressive performance in the December quarter, especially in the backdrop of demonetization. The company reported a 13% increase in its standalone net profit which stood at Rs 255.75 crore from Rs 226.15 crore for the same quarter last year.
Bharat Forge posted weak Q3 numbers as profit dips by 21.5 percent to Rs 128.6 crore but sequentially grew by 1.35 percent. Revenue during the quarter tanks 10.7 percent to Rs 990 crore driven by exports.
NTPC today registered a lower 7.5% net profit at Rs 2,468.72 crore for the third quarter compared to a year ago due to higher fuel cost. Revenue from power generation went up to Rs 19555.62 crore against Rs 17523.56 crore in the previous fiscal.
Havells shares gains as strengthens its grip in the consumer segment through launch of widest range of personal grooming products, aiming to capture 25% market share in the next 3 years.
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