Indices at 10:00 am
Nifty50 14,545 ▼ 50 (-0.3%)
Sensex 49,410 ▼ 173 (-0.3%)
Nifty Bank 32,326 ▼ 192 (-0.5%)
In the news
HCL Q3 earnings beat expectations
- The IT services major reported a constant currency revenue growth of 3.5% QoQ (better than street expectation of 3%) aided by stronger demand for digital services. Its revenues rose 6.4% YoY to ₹19,302 crore and net profits jumped 31% YoY to ₹3,982 crore.
- For Q4, the company expects revenues to grow 2-3% QoQ and expects full-year EBIT to be between 21-21.5%. Its stock was down 0.9% today.
HFCL posts strong Q3 results
- The manufacturer of optical fibre cables and telecommunications equipment stated that its consolidated revenues rose 50% YoY to ₹1,277 crore for Q3. Its net profit grew 86.2% to Rs. 85 crore. The stock gained 1.3% today.
- The company claims a ₹7,313 crore-strong order book and is optimistic on the demand for optic fibre cables given the impending rollout of 5G.
Den Networks Q3 net profit zooms
- The cable and broadband services provider reported revenue growth of 8% YoY to ₹342.1 crore for Q3. Its profit after tax soared 390% to ₹60 crore.
- The rise in revenues, higher other income and lower tax helped the sharp rise in the profits. Its shares were trading 3.6% higher today.
Bharat Dynamics partners with Thales Group
- The state-owned defence manufacturer has signed an agreement with UK-based defence group Thales to become part of the global supply chain for STARStreak missile systems.
- BDL will also offer this missile system to Indian armed forces with at least 60% indigenous content. While the company has not mentioned the size of the opportunity, its shares were upbeat and rose 2.6% today.
Sectoral indices
| Top gainers | Top losers |
| Nifty PSU Bank ▲ 0.4% | Nifty Pharma ▼ 0.9% |
| Nifty Metal ▲ 0.2% | Nifty IT ▼ 0.6% |
| Global markets | Today's movement |
| Nikkei 225 (Japan) | ▼ 0.4% |
| Hang Seng (Hong Kong) | ▲ 0.0% |
| SSE Composite (China) | ▼ 0.5% |
| Dow Jones (US) | ▼ 0.2% |
Fact of the day
Wikipedia turns 20 today.
Source: The Economist
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