X

Rough ride

Nifty50: 17,617 ▼139 (-0.7%)

Sensex: 59,037 ▼427 (-0.7%)

Top gainers Today's change
Bajaj Auto ▲ 3.6%
HUL ▲ 3.0%
Maruti ▲ 1.7%
Top losers Today's change
Bajaj Finserv ▼ 5.0%
Tech Mahindra ▼ 4.6%
Shree Cement ▼ 4.5%


For more updates on F&O, click here


Here are the top stories of the day.

Mphasis posts strong Q3 results

The IT firm’s December quarter revenue and profit stood at ₹3,124 crore and ₹358 crore, up 9% QoQ and 5% QoQ, respectively. The company bagged four large deals during the quarter, with the largest deal being $92 million.

The management said that the shift in global megatrends toward rise in technology spending is an opportunity for the company to sustain its growth momentum. Amidst broader market weakness, shares of Mphasis closed 1.1% lower.


PNB Housing Q3 profit falls

The housing finance company’s net profit dropped 19% year-on-year to ₹188 crore. In the same period, the net interest income also declined 26% to ₹439 crore due to a drop in disbursements.

Its asset quality also sharply deteriorated, falling to 7.6% of the loan book in Q3FY22 from 4.4% in Q3FY21. The management said that it continues with focus on the retail segment, which constitutes 97% of loan disbursements in the December quarter. Shares of PNB Housing Finance were down 4.9% today.


Biocon posts robust Q3 performance

The active pharmaceutical ingredient maker’s net profit rose 11% year-on-year to ₹187 crore. The growth in the bottom line was driven by a 17% rise in the revenue to ₹2,174 crore.

The company’s all divisions posted growth with the biosimilars business growing the fastest at 28%. The management sounded upbeat, saying that approvals for its generics and biosimilars in global markets and renewal of key long-term agreements put Biocon in a strong position. Shares of the company were up 3.3% today.


IPO Corner

The IPO party will continue on D-street next week. Adani Wilmar, which sells edible oil, wheat flour, rice and pulses under the brand name ‘Fortune’, will launch its IPO on 27 January 2021. The price band for the ₹3,600 crore public issue is between ₹218 and ₹230 per share. Click here to apply for the IPOs on Upstox.


Good to know

What is a Cap table?

A capitalization table(cap table) is prepared by companies and startups to show the ownership stakes in a business. The table records each investor's ownership in the company and how much they paid for it. It helps to understand the current equity structure, see the ESOP pool, and to see potential change in the structure at the time of capital raising.

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