Indices at 10:00 am
Nifty50 14,338 ▼ 95 (-0.6%)
Sensex 48,725 ▼ 309 (-0.6%)
Nifty Bank 32,265 ▲ 19.1 (+0.0%)
In the news
HDFC Bank Q3 beats street expectations
- India's largest private lender reported a 15% YoY growth in net interest income to ₹16,317 crore. Its net profit was up 18% YoY to ₹8,758 crore beating street expectation of ₹7,641 crore.
- Its pro forma gross NPA (before considering Supreme Court’s order on NPA classification) stood steady at 1.38% versus 1.37% in September 2020. Investors gave a thumbs up to the results and the shares of HDFC Bank gained 1.9% today in an otherwise weak market.
Dr Reddy’s to start Sputnik V Phase 3 trials
- The Drugs Controller General of India (DCGI) has given a go-ahead to Dr Reddy’s Labs to conduct Phase 3 trials of the Sputnik V vaccine for Covid-19.
- The Russian vaccine will be tried on 1,500 subjects. So far, two vaccines—Covaxin and Covishield—have been cleared for the vaccination drive that kicked off on 16 January. Dr Reddy's shares were down 2.2% today.
Metropolis Healthcare to acquire Hitech diagnostics
- In a bid to consolidate its network in south India, the Mumbai-based diagnostics chain is set to acquire the Chennai-based Hitech Diagnostics in a cash-and-stock deal.
- The deal will give Metropolis access to 31 labs and 68 collection centres of Hitech. The shares of Metropolis rose 1.7% today and have gained over 12% in January so far.
JBM Auto rides high on large bus order
- JBM Auto has received orders to supply 700 BS-VI CNG low-floor buses to the Delhi Transport Corporation. While the company hasn't disclosed the size of the order, it is expected to execute the order in the coming months.
- Shares of JBM Auto (5.5%) saw strong buying interest today and have risen nearly 22% so far in this month.
Sectoral indices
| Top gainers | Top losers |
| Nifty Bank ▲ 0.0% | Nifty Metal ▼ 3.0% |
| NA | Nifty Realty ▼ 2.5% |
| Global markets | Today's movement |
| Nikkei 225 (Japan) | ▼ 0.7% |
| Hang Seng (Hong Kong) | ▲ 0.4% |
| SSE Composite (China) | ▲ 0.7% |
| Dow Jones (US) | ▼ 0.5% |
Fact of the day
Freelancers originally referred to self-employed, sword-wielding mercenaries: literally “free lancers.”
Source: Freelancer.in
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