Sensex and Nifty
Sensex and Nifty continue to face downside by over 1 %. Sensex plunges below 29,300 level. NTPC and BHEL emerge as gainers. Investors in the current scenario are advised to focus on shares of private sector banking space.
HCL Technologies
HCL Technologies reported 2.3% rise in Q3 net profit. HCL Technologies showed 6.3% quarter growth in revenue to Rs 9,283 crore. Dollar revenue of HCL Technologies during October-December quarter went up 4 % to USD 1.49 billion. During the given quarter rose sharply by 5.9% to Rs 2,210 crore. On sequential basis. HCL showed a decline in margin by 10 basis points to 23.8%.
Coal India
Coal India plunges 4% on the opening of its Offer-for-sale-today. Coal India Plunges 4% on the opening of its offer for sale today. By offloading 31.58 crore shares with an option to sell additional 31.58 crore share. Govt will divest upto 10 % stake in Coal India through OFS.
Bank of Baroda.
Bank of Baroda reported 68% drop in the Q3 net profit to Rs 334 crore. The Bottom line of Bank of Baroda tool a hit from the higher provisions and tax rate. The Net Interest Income of Bank of Baroda in the given quarter went higher by 7.5 % to rs 3,286 crore. Bank of Baroda in the reported quarter showed a marginal rise in other income to Rs 1,090.35 crore from Rs 932 crore during the same period of the preceding year.
