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Mumbai (Maharashtra) [India], July 29 (ANI): The Power Transmission &amp; Distribution (<keyword id="21574285" type="General" weightage="20" keywordseo="PTD" source="keywords">PT&amp;D</keyword>) business of <keyword id="19975888" type="General" weightage="20" keywordseo="Larsen-Toubro" source="keywords" meta.keywordsubtype="org" meta.entityname="Larsen &amp; Toubro" meta.hostid="153" meta.entityid="Larsen &amp; Toubro">Larsen &amp; Toubro</keyword> (<keyword id="19963313" type="General" weightage="100" keywordseo="LT" source="keywords">L&amp;T</keyword>) has secured new orders both domestically and internationally for the construction of substations and <keyword id="21017821" type="General" weightage="20" keywordseo="transmission-lines" source="keywords">transmission lines</keyword>. According to an exchange filing, these projects are integral to the vast, interconnected electricity network, aiming to accelerate the <keyword id="20596535" type="General" weightage="20" keywordseo="clean-energy-transition" source="keywords">clean energy transition</keyword> and ensure a reliable, resilient power supply. In India, L&amp;T's PT&amp;D has been entrusted with two 765kV double circuit transmission line projects. These projects are vital for the evacuation of power from the Jaisalmer/Barmer <keyword id="21873922" type="General" weightage="20" keywordseo="Renewable-Energy-Zone" source="keywords">Renewable Energy Zone</keyword> in Rajasthan, channelling it to substations in Madhya Pradesh for further distribution. This initiative is a step towards harnessing and utilising renewable energy resources efficiently within the country. On the international front, Saudi Arabia continues its pursuit of sustainable and efficient power supply by bolstering its 380kV network in the central region. L&amp;T's PT&amp;D has secured orders to construct a 380kV substation and 380kV overhead line segments. These developments are crucial for enhancing the region's <keyword id="21644086" type="General" weightage="20" keywordseo="electricity-infrastructure" source="keywords">electricity infrastructure</keyword> and ensuring a stable power supply. In the United Arab Emirates, L&amp;T's PT&amp;D has been awarded contracts to build a 220kV substation and three 132kV substations. These substations will be pivotal in meeting the growing electricity demand in Dubai and Abu Dhabi, supporting the utilities in maintaining a robust and reliable power network. Larsen &amp; Toubro, a USD 27 billion Indian multinational, is a prominent player in EPC projects, hi-tech manufacturing, and services with a global footprint. Renowned for its customer-focused approach and relentless pursuit of top-quality standards, L&amp;T has maintained leadership in its major business domains for over eight decades. The recent orders won by L&amp;T's PT&amp;D fall under the 'Large' category, with values ranging from Rs 2,500 to Rs 5,000 crore.

L&T wins multiple orders worth Rs 2500 to 5000 crore to build grids for clean energy transition

Benchmark <keyword id="19963565" type="General" weightage="20" keywordseo="equity-indices" source="keywords">equity indices</keyword> <keyword id="19896382" type="General" weightage="100" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> closed lower on Thursday, tracking losses in the most valuable firm <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="20875770" type="General" weightage="20" keywordseo="Bharati-Airtel" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharati Airtel" meta.hostid="261" meta.entityid="Bharati Airtel">Bharati Airtel</keyword> and <keyword id="19963313" type="General" weightage="20" keywordseo="LT" source="keywords" meta.keywordsubtype="org" meta.entityname="L&amp;T" meta.hostid="261" meta.entityid="L&amp;T">L&amp;T</keyword> amid a negative trend in global markets. The 30-share <keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword> Sensex failed to hold on to initial gains and declined 151.48 points or 0.18 per cent to settle at 82,201.16. During the day, it dropped 222.2 points or 0.26 per cent to 82,130.44. The NSE Nifty dipped 53.60 points or 0.21 per cent to 25,145.10 despite a positive beginning of the trade. Among the 30 Sensex firms, Reliance Industries declined over 1 per cent. Tata Motors, Nestle, Bharti <keyword id="19896909" type="General" weightage="20" keywordseo="Airtel" source="keywords">Airtel</keyword>, Bajaj Finance, Larsen &amp; Toubro, JSW Steel and Mahindra &amp; Mahindra were other big laggards. In contrast, Titan, ITC, Infosys, HCL Technologies, Tata Steel and State Bank of India were among the biggest gainers. In Asian markets, Seoul, Tokyo and Hong Kong settled lower, while Shanghai ended higher. European markets were trading mostly lower in mid-session deals. The US markets ended on a mixed note on Wednesday. Foreign Institutional Investors (<keyword id="19950996" type="General" weightage="20" keywordseo="FIIs" source="keywords">FIIs</keyword>) bought equities worth Rs 975.46 crore on Wednesday, according to exchange data. On Wednesday, the BSE benchmark dropped 202.80 points or 0.25 per cent to settle at 82,352.64. The Nifty declined 81.15 points or 0.32 per cent to 25,198.70. The Nifty had surged nearly 1,141 points or 4.59 per cent in 14 straight days. Meanwhile, global oil benchmark <keyword id="20025497" type="General" weightage="20" keywordseo="Brent-crude" source="keywords">Brent crude</keyword> climbed 1.14 per cent to USD 73.53 a barrel.

Sensex, Nifty extend losses into 2nd session as Reliance, Airtel drag

New Delhi, <keyword id="188376" type="General" weightage="20" keywordseo="LT-Foods" source="Orion">LT Foods</keyword> Ltd on Monday reported a 64.86 per cent rise in consolidated net profit to Rs 157.26 crore for the second quarter ended September 30, helped by expansion in domestic and foreign markets. It had reported a net profit of Rs 95.39 crore for the July-September quarter a year ago, according to a regulatory filing by LT Foods Ltd, which owns basmati rice brands -- Daawat and Royal. Its revenue from operation increased 14.66 per cent to Rs 1,977.78 crore during the quarter under review. It was Rs 1,724.83 crore a year ago. The total expenses in the September quarter surged 11.94 per cent to Rs 1,792.33 crore. Its total income in the September quarter rose 15.02 per cent year-on-year to Rs 1,991.81 crore. LT Foods Managing Director and CEO Ashwani Arora said: "Our ongoing efforts to expand our presence in India and International markets have yielded substantial results, with our total business growing by 13 per cent during H1 FY24 and profit after tax (PAT) grew by 55 per cent". LT Foods is a leading player globally in the speciality rice and rice-based foods business. Over the outlook, Arora said in response to the evolving consumer trends and preferences, LT Foods will grow its core business and innovate and introduce new product offerings diversifying its product portfolio. "We are confident of continued improvement in our performance over the long term and in our ability to deliver consistent, sustainable, profitable, and responsible growth," he said. Shares of LT Foods Ltd on Monday were trading at Rs 162.25 on BSE during the afternoon, down 0.46 per cent from the previous close.

LT Foods Q2 2023-24 net profit rises 64.8% to Rs 157.26 cr

<keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> scaled the 76,000 level for the first time while <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> hit a new lifetime peak before closing marginally down on Monday as investors booked profits at record levels amid high volatility ahead of the results of <keyword id="19912155" type="General" weightage="20" keywordseo="Lok-Sabha-polls" source="keywords">Lok Sabha polls</keyword>. The 30-share <keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords" meta.keywordsubtype="org" meta.entityname="BSE" meta.hostid="261" meta.entityid="BSE">BSE</keyword> Sensex closed lower by 19.89 points or 0.03 per cent lower at 75,390.50. Intra-day, the barometer climbed 599.29 points or 0.79 per cent to an all-time peak of 76,009.68 following gains in select banking, financial and IT shares. However, investors preferred to book profits at record levels and the index declined around 835 points from the day's high to hit a low of 75,175.27. Broader Nifty of the <keyword id="6354646" type="General" weightage="20" keywordseo="NSE" source="Orion">NSE</keyword> declined by 24.65 points or 0.11 per cent, to end at 22,932.45. The 50-issue barometer rose by 153.7 points or 0.66 per cent to hit a new lifetime high of 23,110.80 during the day. However, it tanked around 240 points at the fag-end due to selling in oil, energy and FMCG shares. Index heavyweight Reliance Industries declined nearly 1 per cent, dragging the benchmark indices into the negative. Selling in FMCG giant ITC also eroded gains. Equity benchmarks were on a record-breaking rally for the third straight day ahead of the results of Lok Sabha polls and a rally in global markers. The results of the ongoing general elections will be declared on June 4. Sensex breached the historic 75,000-mark for the first time on April 9. It took 31 trading sessions for the benchmark to climb 1,000 points to reach the 76,000-mark on Monday. The BSE benchmark took 21 trading sessions to reach 75,000-mark on April 9 after hitting the 74,000-level on March 6. From the Sensex pack, Wipro, NTPC, Sun Pharma, Mahindra &amp; Mahindra, ITC and Reliance Industries were among the biggest laggards. IndusInd Bank, Axis Bank, Bajaj Finance, HDFC Bank, Larsen &amp; Toubro and State Bank of India were among the major gainers. "The bulls are facing stiff resistance at 23,000 levels as investors start booking profit at higher levels to avoid any knee-jerk reaction in the market ahead of the election result. Better earnings growth, the expectation of a revival in private capex, and a moderation in FIIs selling intensity are the key positive triggers in the market," Vinod Nair, Head of Research, Geojit Financial Services, said. "Nifty ended almost flat in a volatile session after hitting record highs in the early part of the session," said Deepak Jasani, Head of Retail Research, HDFC Securities. Ajit Mishra - SVP, Research, Religare Broking Ltd said that the tone was positive in the first half, but profit-taking in heavyweights in the second half erased all the gains. In the broader market, the BSE midcap gauge climbed 0.63 per cent while smallcap index dipped 0.09 per cent. Among the indices, oil and gas declined 0.71 per cent. Commodities (0.61 per cent), power (0.49 per cent), utilities (0.37 per cent) and consumer discretionary (0.15 per cent) also dropped. Financial Services, industrials, IT, bankex, realty and services were among the gainers. Analysts said that the presence of resistance around the 23,100 level in the Nifty, along with a rise in the volatility index, India VIX, limited the upside. India VIX, which measures market volatility surged nearly 7 per cent to 23.13 points. "Nifty remained mostly volatile during the day as India awaits the final phase of the general election (on June 1)," Rupak De, Senior Technical Analyst, LKP Securities said. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the positive territory. European markets were also quoting in the green. Wall Street ended with gains on Friday. Global oil benchmark Brent crude climbed 0.38 per cent to USD 82.44 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 944.83 crore on Friday, according to exchange data. On Friday, the BSE benchmark dipped 7.65 points or 0.01 per cent to settle at 75,410.39. The Nifty breached the 23,000 mark for the first time on Friday. It, however, pared all the gains and ended with a marginal decline of 10.55 points or 0.05 per cent at 22,957.10.

Sensex scales 76,000 peak, Nifty hits new high before closing lower; IndusInd, L&T, SBI biggest gainers

<ul><li><keyword id="6354919" type="General" weightage="20" keywordseo="LT" source="Orion">L&amp;T</keyword>’s board approved a buyback at a maximum price of ₹3,000 per share for an aggregate consideration of up to ₹10,000 crore.</li><li>Special dividend was announced to mark the end of A M Naik’s tenure with the company. </li><li>Stress in core segment margins will continue for next two quarters as it carries post-Covid, post-war overhang. </li><li></li></ul>Infrastructure major <keyword id="45475" type="General" weightage="20" keywordseo="Larsen-Toubro" source="Orion">Larsen &amp; Toubro</keyword>’s (L&amp;T) Q1 consolidated net profit went up by 46% to ₹2,493 crore, from ₹1,702 crore in the same quarter last year. It also said the board of directors approved a share buyback at the maximum price of ₹3,000 each for an aggregate consideration of up to ₹10,000 crore. The proposal is subject to the approval of shareholders. The board also approved a special dividend of ₹6 per equity share to mark the end of chairman A M Naik’s extraordinary tenure with the company, said R Shankar Raman, L&amp;T's CFO said in an earnings conference call. Naik will retire as the non-executive chairman of the company in September this year, after which the current CEO &amp; MD S N Subrahmanyan will take over as its executive chairman and MD. Revenue guidance unchanged L&amp;T’s consolidated revenues went up 34% to ₹47,882 crore for the quarter, from 35,853 crore in Q1 of FY23. The company said that it was primarily aided by the execution of a healthy order book in its projects and manufacturing portfolio. However, Raman refused to change the goalpost of the revenue guidance of 12-15% given for FY24. “If all goes well, we will be at the upper end of the guidance,” he said. The company received orders worth ₹65,520 crore at the group level during the quarter, registering a y-o-y growth of 57%. International orders at ₹27,646 crore during the quarter comprised 42% of the total order inflow. The company said that orders were received across diverse segments like rail, renewables, rural water supply, transmission &amp; distribution, IT &amp; office space and onshore and offshore verticals of the hydrocarbon business, during the quarter. The consolidated order book of the group is at ₹4,12,648 crore as on June 30, 2023, with international orders having a share of 29%. “Capex buoyancy in India Gulf Cooperation Council is providing the much-needed tailwinds for growing our projects &amp; manufacturing portfolio, ably supported by the resilient performance of the services businesses,” said S N Subrahmanyan, CEO &amp; MD, Larsen &amp; Toubro. Core segment margins to remain stressed in near term Its infrastructure segment saw order inflows of ₹40,051 crore, double what was recorded in the same quarter last year. The EBITDA margin of the segment during the quarter, however, reduced to 5.1% vis-à-vis 6.5% recorded in the corresponding quarter. The infrastructure business orders that were executed during the quarter were won in the second half of FY22 and FY23. The pricing of these orders factors in inflationary trends seen in the post-Covid, post-War period, Raman said explaining the margin squeeze seen in the segment during the quarter. He added that this segment’s margins will continue to be subdued for the next quarter or two. “Improvement in margin trajectory will be seen only in Q4. In fact 2024-25 will be a far healthier period,” Raman said. In its outlook, the company said that major economies are turning around the corner. Major oil producing nations continue to invest in oil &amp; gas, industrialisation and energy transition initiatives, which will augur well for the company’s projects business. L&amp;T said that in the backdrop of this mixed sentiment, its focus will remain on cash generation and judicious capital allocation. “The company has a robust order prospects pipeline in the medium term and is confident of sustaining its growth momentum by utilising the emerging opportunities, with an overarching aim of improving shareholder value on a sustainable basis,” it said in a press release.

L&T’s Q1 net profit jumps 46%; board approves ₹10,000 crore share buyback

Mumbai, Benchmark equity indices Sensex and <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> eked out marginal gains on Wednesday following late buying in capital goods, auto and utility stocks as investors adopted a cautious approach ahead of the US Fed interest rate decision. The 30-share BSE Sensex advanced 33.57 points or 0.05 per cent to settle at 69,584.60, driven by late buying. During the day, it fell 450.47 points or 0.64 per cent to 69,100.56. The Nifty gained 19.95 points or 0.10 per cent to 20,926.35. "The market's focus now shifts to the upcoming FOMC (Federal Open Market Committee) meeting. And the recent global upside is getting far stretched in anticipation of a rapid fall in US Fed rate in CY 2024," said Vinod Nair, Head of Research at Geojit Financial Services. Among the Sensex firms, NTPC, Power Grid, Mahindra &amp; Mahindra, Larsen &amp; Toubro, <keyword id="44642" type="General" weightage="80" keywordseo="sun-pharma" source="Orion">Sun Pharma</keyword>, State Bank of India, Titan and Tata Steel were the major gainers. Tata Consultancy Services, Infosys, Axis Bank, <keyword id="85462" type="General" weightage="80" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword>, <keyword id="6355596" type="General" weightage="50" keywordseo="ultratech-cement" source="Orion">UltraTech Cement</keyword> and <keyword id="111876" type="General" weightage="80" keywordseo="bajaj-finance" source="Orion">Bajaj Finance</keyword> were the major laggards. In the broader market, the BSE midcap gauge climbed 1.06 per cent and smallcap index gained 0.73 per cent. Among the indices, services climbed 1.50 per cent, realty jumped 1.45 per cent, utilities (1.33 per cent), power (1.25 per cent), auto (1.17 per cent) and consumer discretionary (0.85 per cent). In contrast, IT, telecommunication, bankex, oil &amp; gas and teck were the laggards. "Asian shares were mixed while European markets were up on Wednesday, as traders waited for the year's final policy decision from the Federal Reserve and clues on whether the central bank will cut rates next year," said Deepak Jasani, Head of Retail Research, HDFC Securities. In Asian markets, Seoul, Shanghai and Hong Kong settled lower while Tokyo ended in the positive territory. European markets were trading with gains. The US markets ended in positive territory on Tuesday. "Domestic equities were lacklustre ahead US Fed's decision late today. Nifty remained in negative territory for the most part of the day but last hour buying helped indices to close in green with marginal gains of 20 points at 20,926 levels," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, said. Global oil benchmark Brent crude declined 0.27 per cent to USD 73.04 a barrel. Foreign institutional investors (FIIs) were buyers on Wednesday as they bought equities worth Rs 4,710.86 crore, according to exchange data. Snapping its declining trend, retail inflation rose to a three-month high of 5.55 per cent in November on firming food prices, including vegetables and cereals, though it remains within the RBI's comfort zone of less than 6 per cent. After a two-day rally, the BSE benchmark fell by 377.50 points or 0.54 per cent to settle at 69,551.03 on Tuesday. The Nifty declined 90.70 points or 0.43 per cent to 20,906.40.

Stock markets settle marginally higher on late buying; L&T, RIL advance

Shares of Larsen &amp; Toubro on Thursday tumbled over 5 per cent after the company said its non-executive chairman A M Naik has decided to step down from the post and will become the chairman emeritus. The stock fell 5.42 per cent to Rs 2,238.45 on the BSE. At the NSE, it tumbled 5.37 per cent to Rs 2,237.35. The company's market valuation declined by Rs 16,099.79 crore to Rs 3,16,549.73 crore in morning trade. Larsen &amp; Toubro (<keyword id="6354919" type="General" weightage="20" keywordseo="LT" source="Orion">L&amp;T</keyword>) was the biggest laggard among the 30-share BSE Sensex firms. S N Subrahmanyan, who is the chief executive officer &amp; managing director, has been re-designated as the chairman and managing director of the company with effect from October 1, 2023, according to a regulatory filing. Naik has decided to step down as non-executive chairman of the company with effect from September 30, 2023. He has been conferred the status of chairman emeritus by the board, it said. He has been associated with the company for more than 58 years and his stewardship has led to an upsurge in shareholder value creation. Larsen &amp; Toubro on Wednesday reported a 10 per cent rise in its consolidated net profit to Rs 3,987 crore for the quarter ended in March 2023. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/lt-q4-net-profit-rises-10-to-3987-crore-cautiously-optimistic-about-fy24/articleshow/100137513.cms">L&amp;T Q4 net profit rises 10% to ₹3,987 crore, cautiously optimistic about FY24</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/mankind-pharma-debuts-in-top-100-as-per-market-value-after-a-stellar-listing/articleshow/100123765.cms">Mankind Pharma enters top 100 companies by market cap after a stellar listing</a>

L&T shares fall over 5% in morning trade

<ul><li>India’s equity markets are likely to open on a positive note on Thursday amid heightened volatility. </li><li>SGX <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>, an early indicator of how the markets may perform, was up 0.24% or 44 points early in the morning today. </li><li><keyword id="118623" type="General" weightage="20" keywordseo="adani-enterprises" source="Orion">Adani Enterprises</keyword>, <keyword id="6354919" type="General" weightage="20" keywordseo="lt" source="Orion">L&amp;T</keyword>, <keyword id="80296" type="General" weightage="100" keywordseo="eicher-motors" source="Orion">Eicher Motors</keyword> are amongst <keyword id="1377110" type="General" weightage="20" keywordseo="stocks-in-focus" source="Orion">stocks in focus</keyword> today. </li></ul>India’s equity markets are likely to open on a positive note on Thursday amid heightened volatility. SGX Nifty, an early indicator of how the markets may perform, was up 0.24% or 44 points early in the morning today. Earlier on Wednesday, <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and Nifty capped off a volatile day of trading with gains of 0.3%. While Sensex closed at 61,940 points, <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> closed at 18,315 points. Gold prices fell to ₹61,255 per 10 grams while silver stood at ₹76,690 per kilogram. Crude oil prices gained as well, with Brent crude prices hovering at $77per barrel. <cmsannotation type="cmsannotation" annotationid="Global markets mixed" comment="subhead" text="Global markets mixed">Global markets mixed</cmsannotation> Markets in the US closed on a mixed note on Wednesday, with Dow Jones falling 0.09% while S&amp;P 500 gained 0.45%. On the other hand, the tech-heavy Nasdaq rallied 1.04%. Asian markets were also mixed, with Nikkei 225 and Shanghai Composite trading on a flat note on Thursday morning. <keyword id="48212" type="General" weightage="80" keywordseo="hang-seng" source="Orion">Hang Seng</keyword>, on the other hand, was trading down at 0.15%, while Taiwan Weighted was down 0.4%. KOSPI was trading 0.43% in the green. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch">Stocks to watch</cmsannotation> Earnings today: Eicher Motors, Asian Paints, Deepak Nitrite, Aditya Birla Capital, Balrampur Chini Mills, Ujjivan Small Finance Bank, Gujarat State Petronet, Dr Lal Pathlabs, Care Ratings, Siemens, Religare Enterprises among companies to report their quarterly earnings today. Adani Group: The flagship company Adani Enterprises on Wednesday announced that it will hold a board meeting on May 13 to consider fund raise via issuance of equity. Adani Green Energy will consider fundraising as well on the same day. L&amp;T: The construction and engineering behemoth reported a 10% jump in net profit at ₹3,987 crore in March quarter, which missed analysts estimates of ₹4,339 crore. Revenues for the quarter rose over 10% on year to ₹58,335 crore, which is also below estimates of ₹59,256 crore. Dr Reddy’s Laboratories: The pharma major reported a ten fold increase in net profit on year at ₹959 crore for March quarter while revenue jumped 16% to ₹6,296 crore during the same time. Godrej Consumer Products: The company has reported a 24% rise in net profit at ₹452 crore from ₹363 crore last year while revenue rose 9.8% on year to ₹3,200 crore. It has also planned to raise ₹5,000 crore through the issuance of non-convertible debentures. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/lt-q4-net-profit-rises-10-to-3987-crore-cautiously-optimistic-about-fy24/articleshow/100137513.cms">L&amp;T Q4 net profit rises 10% to ₹3,987 crore, cautiously optimistic about FY24</a> <a href="https://www.businessinsider.in/business/corporates/news/mankind-pharma-debuts-in-top-100-as-per-market-value-after-a-stellar-listing/articleshow/100123765.cms">Mankind Pharma enters top 100 companies by market cap after a stellar listing</a>

Sensex, Nifty50 likely to open on a positive note amid volatility: Adani Enterprises, L&T, Eicher Motors among stocks in focus

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged lower in morning trade after opening on a positive note on Wednesday. </li><li>Most sectoral indices were in the red, with PSU bank, healthcare and pharma indices losing the most. </li><li>State Bank of India, Axis Bank and Dr. Reddy’s Laboratories were amongst the top losers in morning trade. </li></ul>India’s benchmark indices Sensex and Nifty50 edged lower in morning trade after opening on a positive note on Wednesday. Most sectoral indices were in the red, with PSU bank, healthcare and pharma indices losing the most. Both the indices were down by 0.3%, with Sensex hovering at 61,592 points and Nifty50 at 18,218 points. State Bank of India, Axis Bank and Dr. Reddy’s Laboratories were amongst the top losers in morning trade. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.45% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.66% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.04% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.36% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid Corp. </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.94% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.07% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.76% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr. Reddy's Laboratories </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.89% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.64% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.80% </td></tr></tbody></table> Source: NSE, as on May 10, 2023 Earlier on Tuesday, both the benchmark indices rose in mid-market trading, with Sensex crossing the 62,000 mark for the first time since December. However, by markets close, both the indices pared their gains to end flat. Gold prices edged up to ₹61,410 per 10 grams while silver stood at ₹77,455 per kilogram. Crude oil prices gained as well, with Brent crude prices hovering at $76.9 per barrel. <cmsannotation type="cmsannotation" annotationid="Global cues negative" comment="subhead" text="Global cues negative">Global cues negative</cmsannotation> Markets globally offered negative cues on Wednesday. US markets closed lower ahead of key inflation data, with Dow Jones closing 0.17% lower while S&amp;P 500 fell 0.46%. The tech-heavy Nasdaq closed 0.63% in the red. Asian markets were largely in the red on Wednesday morning, with Shanghai Composite falling the most at 1.12%, followed by Taiwan Weighted which was down 0.85%. Hang Seng fell 0.62%, while Nikkei 225 was down 0.44%. KOSPI was down only 0.15%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch">Stocks to watch</cmsannotation> Earnings today: <keyword id="6354919" type="General" weightage="20" keywordseo="lt" source="Orion">L&amp;T</keyword>, Dr Reddy’s Laboratories, Godrej Consumer Products, Gujarat Gas, Relaxo Fotwears, Bosch, Escorts, Cera Sanitaryware, JBM Auto, Orchid Pharma, Pricol among companies to release its March quarter earnings today. Nazara Technologies: The gaming company reported an 18% increase in consolidated net profit at ₹2.6 crore for March quarter while revenue from operations surged 65% on year to ₹289 crore. It has also increased stake in Nextwave Multimedia, developers of World Cricket Championship, to 71.88% from 52.38%. <keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> group: Three Adani group entities, namely <keyword id="4343578" type="General" weightage="20" keywordseo="adani-green" source="Orion">Adani Green</keyword>, <keyword id="895682" type="General" weightage="20" keywordseo="adani-ports" source="Orion">Adani Ports</keyword> &amp; SEZ, and <keyword id="2687606" type="General" weightage="20" keywordseo="adani-transmission" source="Orion">Adani Transmission</keyword> have been removed from a UN-backed list of green companies. Further, the committee set up by the Supreme Court to look into the Hindenburg allegations has submitted its report to the court. SpiceJet: The airline has submitted a request to the aviation regulator to deregister three aircraft. Currently, many aircraft of the low cost carrier are grounded due to various reasons. Apollo Tyres: The company has reported a four fold increase in net profit at ₹427 crore while revenue from operations rose 12% on year to ₹6,247 crore. Reliance Industries: The Delhi High Court on Tuesday dismissed a petition filed by the Union government against a consortium led by the company regarding a gas dispute in the Krishna Godavari basin. Eveready Industries: The battery and lighting products manufacturer has narrowed its loss to ₹ 14 crore as against a loss of ₹38 crore last year. Meanwhile, its revenue increased 18% to ₹286 crore from ₹242 crore last year. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/india-china-amongst-top-gold-buyers-in-march-quarter-as-central-banks-hoard-yellow-metal/slidelist/100103402.cms">India, China amongst top gold buyers in March quarter as central banks hoard yellow metal</a> <a href="https://www.businessinsider.in/business/auto/news/fy23-scorecard-tvs-motor-fares-better-than-bajaj-auto-hero-motocorp-on-profits-and-margins/articleshow/100082560.cms">FY23 Scorecard: TVS Motor fares better than Bajaj Auto, Hero MotoCorp on profits and margins</a>

You Searched For "LT" and got 9 results

L&T wins multiple orders worth Rs 2500 to 5000 crore to build grids for clean energy transition

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L&T’s Q1 net profit jumps 46%; board approves ₹10,000 crore share buyback

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L&T shares fall over 5% in morning trade

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