Stocks in News: Adani Ports, Ambuja Cements, Delhivery, PB Fintech and more
Domestic stock markets snapped their two-day winning streak and settled down on Friday amid weak global signals of recession fears. The Sensex fell 123.52 points, or 0.20 percent, to 60,682.70 and the Nifty50 Index also fell 36.95 points, or 0.21 percent, to 17,856.50. However, broader markets outperformed their overall peers as the BSE midcap and smallcap indices settled higher. India VIX fell over 2 percent to 12.75 level.
Here’s a look at stocks likely to remain in the news today.
Delhivery: The logistics company’s net loss widened to Rs 196 crore in Q3 compared to Rs 126 crore in the same quarter last year. Operating income fell 9% year-on-year to Rs 1,823 crore for the quarter under review.
PB Fintech: The firm said it expects to be EBITDA positive by the fourth quarter as losses narrowed significantly in the October-December period. The company’s net loss narrowed to Rs 87 crore in the third quarter.
Info Edge: The company posted a net loss of Rs 116 crore for the third quarter against a profit of Rs 4,601 crore in the corresponding quarter last year.
BHEL: Profit after tax increased 250% quarter-on-quarter from Rs 12 million reported in the previous September quarter. Operating income rose a marginal 2% to Rs 5,263 crore in the third quarter against Rs 5,136 crore in the same period last year.
Adani Ports: NSE has removed Adani Ports and Special Economic Zone from the additional monitoring framework. Earlier, the stock exchange had placed three Adani group stocks – Adani Enterprises, Adani Ports and Ambuja Cements under additional surveillance measures (ASM) to curb excessive volatility.
Ambuja Cements: NSE has removed Ambuja Cements from the additional monitoring framework.
Paytm: China’s Alibaba Group has offloaded 3.3% stake in Paytm parent One97 Communications through the open market on Friday, raising Rs 1,378 crore. Alibaba.com Singapore E-Commerce Pvt Ltd sold 2,14,31,822 shares at Rs 642.74 apiece.
Navkar Corporation: The company’s board has approved the appointment of Arun Sharma as the company’s new managing director with effect from 11 February.
Fortis Health Care: The company posted a profit of Rs 142 crore for the December quarter, compared to Rs 142 crore in the year-ago period. Revenues in the quarter were NOK 1,560 million.
Glenmark Pharma: It posted a net profit of Rs 291 crore for the December quarter, compared to Rs 240 crore in the year-ago period. Revenues in the quarter were NOK 3,464 million.
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