L&T slides on muted results, Voltas hit 52-week high & more

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NIFTY50: 21,725 ▲ 203 (+0.9%) 
 SENSEX: 71,752 ▲ 612 (+0.8%)

  • Benchmark indices rallied ahead of the Interim Budget and Fed rate decision
  • In all, 46 of the NIFTY50 stocks closed in the green
  • Federal Reserve expected to hold the Fed funds rate unchanged at 5.25%-5.5%

Among the NIFTY sectoral indices, Pharma (+2.6%) and Realty (+2.6%) were the top gainers, with no sectoral losers today.

What's Up

Top gainers Today's change
Dr Reddy 6,120 ▲ 279 (+4.7%)
Eicher Motors 3,841 ▲ 136 (+3.6%)
Sun Pharma
1,415 ▲ 43 (+3.1%)

What's Down

Top losers Today's change
3,480 ▼ 153 (-4.2%)
Titan 3,697 ▼ 38 (-1.0%)
BPCL 502 ▼ 1.9 (-0.3%)

Market Sentiment

USD-INR  83.05 ▼ 0.06 (-0.08%)
NIFTY MIDCAP 100 48,568 ▲ 776 (+1.6%)
NIFTY SMALLCAP 100 16,026 ▲ 352 (+2.2%)
India VIX 16.05 ▼ 0.05 (-0.3%)

Stock Buzz

⭐ L&T falls 4% after missing Q3 profit estimates

Shares of the engineering-to-tech conglomerate declined 4% today. This came after the company’s Q3 profit was lower than the street estimates as higher costs countered sustained infrastructure demand. Total expenses for the quarter jumped more than 19%, overshadowing an 18.8% rise in revenue from operations – its slowest topline growth in the last two quarters.

⭐ Voltas hits 52-week high after net loss narrows

Shares of the home appliances manufacturer hit a 52-week high of ₹1,101 per share after its net loss narrowed to ₹27 crore in December quarter, down from ₹110 crore in the previous year same quarter. The losses shrinked on the back of better sales as its revenue surged 31% year-on-year to ₹2,625 crore in this quarter.

⭐ Dixon Tech gains on robust Q3 numbers

Dixon Technologies reported a 87% year-on-year rise in its net profit of ₹97.1 crore for Q3 FY24. The company’s total revenue stood at ₹4,818.3 crore, doubled from the year-ago quarter. Meanwhile, shares of the electronic manufacturing services provider rose 1.9% higher today.

⭐ Cochin Shipyard hits 52-week high

Cochin Shipyard shares hit a 52-week high of ₹945 per share and closed nearly 3.6% higher.  This came after the company reported a 121% year-on-year (YoY) surge to ₹244 crore in Q3 FY24. Its revenue also rose 64% YoY to ₹1,056 crore in the same period. Additionally, the company secured an order from a European client worth ₹500 crore.

IPO Corner

⭐ On Day 2, the BLS E-Services Limited IPO received an overall subscription of 42.7 times, with the retail segment being subscribed 125.4 times. To know more and apply, click here.

⭐ Nova Agritech listed at 34% premium at ₹55 per share compared to its issue price of ₹41 per share. The stock debuted at ₹55 on the NSE.


Learn with Upstox

What is topline and bottomline?

Topline refers to a company's total revenue or sales generated from its primary business activities, reflecting its overall income. Bottomline represents the net profit or earnings after deducting all expenses, including taxes and interest, from the total revenue. It signifies the company's financial health and profitability.

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