Indices at previous closing
Nifty50: 17,757 ▼181 (-1.0%)
Sensex: 59,464 ▼634 (-1.0%)
Nifty Bank: 37,850 ▼190 (-0.5%)
For more updates on F&O, click here.
HUL’s Q3 result meets street estimates
In the December quarter, the FMCG major’s net profit rose 17% year-on-year to ₹2,243 crore. This strong profit growth, which was in-line with the street’s estimates, was aided by price hikes and cost savings.
In the same period, the company’s revenue also rose 10% to ₹12,900 crore. The management said that the operating environment will continue to remain challenging in the near-term. It also added that the company made handsome market share gains in all its categories. Meanwhile, shares of HUL were down almost 2% yesterday.
Havells Q3 profit falls
The electric equipment maker reported a net profit of ₹305 crore, down 12% year-on-year. The company’s profitability was dented by elevated commodity prices. Its EBITDA margins dropped to 12.1% from 16% in the same quarter last year.
In the same period, the company’s revenue rose 15% YoY to ₹3,652 crore. The management said that demand during the festive season was encouraging, however, tapered down later in Q3 due to high inflation and virus scare. Meanwhile, shares of Havells were flat yesterday but the results were announced after market hours.
South Indian Bank narrows loss in Q3
The Kerala-based bank’s net loss narrowed to ₹50 crore in Q3FY22 from ₹187 crore in Q2FY22. The fall in provisioning for bad loans helped in reducing the losses. In the December quarter, the bank’s net interest income rose 9% sequentially to ₹573 crore.
The bank’s asset quality also improved marginally with gross non-performing assets (NPAs) falling to 6.5% of the loan book, compared to 6.6% in Q2FY22. Meanwhile, shares of the bank were up 1.1% on Thursday.
Sectoral indices (January 20)
| Top gainers | Top losers |
| Nifty Metal ▲ 0.5% | Nifty IT ▼ 1.6% |
| Nifty Realty ▲ 0.2% | Nifty Pharma ▼ 1.6% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.6% |
| Nikkei 225 (Japan) | ▼ 1.4% |
| Hang Seng (Hong Kong) | ▼ 0.0% |
| SSE Composite (China) | ▼ 0.3% |
| Dow Jones (US) (January 20) | ▼ 0.8% |
| NYSE (US) (January 20) | ▼ 0.9% |
| Nasdaq (US) (January 20) | ▼ 1.3% |
| S&P 500 (US) (January 20) | ▼ 1.1% |
Fact of the day
Lamborghini, which is known for its luxury cars, also manufactures tractors.
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