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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>While analysts remain positive about 2023, multiple factors including geopolitical tensions, rising Covid-19 cases in China, monetary policy actions could have an impact on markets.</li><li>Business Insider India has examined analyses of multiple brokerages to figure out stocks that are expected to shine in 2023.</li><li>Here are some of the stocks recommended by brokerages including ICICI Direct, HDFC Securities, Sharekhan, Motilal Oswal and Religare Broking to invest in next year. </li></ul>The year 2022 has been an eventful one, with multiple headwinds in the form of rising geopolitical tensions, continued supply chain constraints, boiling crude oil prices and elevated inflation that triggered interest rates hikes by central banks around the world, causing a turmoil in equity markets globally. As we step into 2023, equity markets could be <a href="https://www.businessinsider.in/stock-market/news/psus-stage-a-comeback-in-2022-and-the-future-looks-healthy-say-analysts/articleshow/96522444.cms">driven</a> by key sectors like banking, finance and insurance services (BFSI), IT and metals, say analysts. In 2022, the Indian equity market emerged as an outlier in a world where most markets delivered negative returns. Benchmark indices Sensex and the Nifty50 rose nearly 3% this year as domestic institutional investors stepped in to fill the gap left by foreign institutional investors (FIIs) during the year. In comparison, Asian and US markets registered a steep 10-30% fall in the year. “The relatively stable equity market in India was a result of a smart economic recovery from the pandemic shock and the growing dominance of retail investors,” said a report by Quantum Mutual Fund. In 2023, however, geopolitical tensions, rising Covid-19 cases, monetary policy actions, change in commodity prices including crude oil and India’s union budget are among factors that will impact the markets. Amid all these uncertainties, the key question is which stocks would be suitable to invest in this scenario? Business Insider India has examined analyses of multiple brokerages – including ICICI Direct, HDFC Securities, Sharekhan, Motilal Oswal and Religare Broking – to give you a list of stocks that are expected to shine in 2023. Here are the stocks recommended by brokerages for investment in 2023. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year-to-date change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Larsen &amp; Toubro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">34% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Macrotech Developers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-17% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PI Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr></tbody></table>Note: Change as on December 27, 2022 <keyword id="6354919" type="General" weightage="20" keywordseo="LT" source="Orion">L&amp;T</keyword> best placed to take advantage of a capex revival Infrastructure behemoth Larsen &amp; Toubro is amongst the top picks of brokerages as they believe the company is well poised to be the key beneficiary of a <a href="https://www.businessinsider.in/stock-market/news/capital-intensive-cyclical-and-value-stocks-to-continue-their-outperformance/articleshow/95659482.cms">capex upcycle</a> driven by investments in both public and private sectors. “With a pick-up in the capex cycle and diversified segmental exposure, we believe L&amp;T is the best capex play in the large cap capital goods segment. The company is optimistic about meeting its 15% growth guidance for revenue and order inflow in FY23,” said a report by ICICI Direct Research. Debt-free Maruti Suzuki another favourite of brokerages India’s largest carmaker Maruti Suzuki is another favourite of analysts considering it is debt free, pays consistent dividend, and has strong free cash flow and healthy financials. “Maruti is on a strong footing for a recovery in market share and margin with launches gaining traction and semiconductor shortages easing. It can gain further market share, led by an expected shift towards petrol and hybrid vehicles, resulting in ~14% volume CAGR over FY22-25E,” said a report by Motilal Oswal. In the next 2 years, the automaker intends to launch products in the utility vehicle segment, focus on premiumisation and revamp its existing product portfolio. SBI and Axis Bank among top BFSI picks State Bank of India and private lender Axis Bank are also among stocks that might do well next year. Analysts say SBI is one of the few large-cap stocks available at a reasonable valuation with high growth visibility led by strong retail loans and a pick up in the corporate segment. “Bank lending has been growing at double-digit rates as of this fiscal. Revival in consumer demand, rise in private capex followed by rise in government spending can be triggers for the growth. SBI, being a leader in the industry, could be a best play on this theme,” said analysts at HDFC Securities. Similarly, Axis Bank has also been witnessing strong growth in the retail and mid-corporate segment, which, along with micro, small and medium enterprises, would remain the key growth drivers for the bank, according to analysts at Motilal Oswal. PI Industries, Macrotech to shine The chemical manufacturer PI Industries is expected to maintain its growth momentum with better-than-expected sales growth and margin expansion. Macrotech Developers, which markets its properties under the Lodha brand, is expected to continue strong growth next year as well due to a strong pipeline, say analysts at Motilal Oswal. With the brand new year just around the corner, and several factors set to affect the markets, these commentaries from brokerages should make it easier to help build an equity portfolio in 2023. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/december-auto-sales-could-skid-sequentially-on-production-constraints-purchase-deferrals-due-to-inauspicious-period/articleshow/96617021.cms">December auto sales could skid sequentially on production constraints, purchase deferrals due to ‘inauspicious’ period</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gautam-adani-man-of-the-year/articleshow/96610248.cms">Gautam Adani: Man of the year</a>

Stock picks for 2023: L&T, SBI, Axis Bank among top brokerage picks for the new year

<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

<ul><li>Indian benchmark indices opened in the red on Tuesday, a day after <a href="https://www.businessinsider.in/stock-market/news/here-are-the-top-gainers-and-losers-on-the-nifty500-index-today/articleshow/95829829.cms">closing at new all-time highs</a>, tracking mixed global cues.</li><li><keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the markets may perform, was down 0.33% ahead of the markets opening on Tuesday.</li><li>The 30-stock index <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> opened 143 points lower at 62,362 while the Nifty50 opened 10 points lower at 18,553.</li><li>Adani Enterprises, NDTV, M&amp;M, L&amp;T and others will be among the stocks to watch out for on Tuesday.</li></ul>Indian benchmark indices opened in the red on Tuesday, a day after <a href="https://www.businessinsider.in/stock-market/news/here-are-the-top-gainers-and-losers-on-the-nifty500-index-today/articleshow/95829829.cms">closing at new all-time highs</a>, tracking mixed global cues. While markets in the US and Asia slid on Monday on growing protests in China against the country’s zero-Covid policy, there was a clawback on Tuesday morning in some of the Asian markets. SGX <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>, an early indicator of how the markets may perform, was down 0.33% ahead of the markets opening on Tuesday. The 30-stock index Sensex opened 143 points lower at 62,362 while the Nifty50 opened 10 points lower at 18,553. On Monday, the Sensex <a href="https://www.businessinsider.in/stock-market/news/here-are-the-top-gainers-and-losers-on-the-nifty500-index-today/articleshow/95829829.cms">closed</a> at a new all-time high of 62,505 while the Nifty50 closed at 18,563 points. “The undertone of the Indian market remains bullish despite the global headwinds. Indian markets could continue to do well with some intermittent corrections till the forthcoming Union Budget,” said Dhiraj Relli, MD &amp; CEO, HDFC Securities Rupee opened 6 paise higher at 81.60 per US Dollar on Tuesday as against 81.66 on Monday. Brent crude oil prices edged up to $84.6, from $81 on Monday. <cmsannotation type="cmsannotation" annotationid="Asian markets edge up" comment="subhead" text="Asian markets edge up">Asian markets edge up</cmsannotation> Most Asian indices were trading higher with Hong Kong’s Hang Seng surging 3.20% followed by China’s Shanghai SE Composite Index up 1.66% and Taiwan TSEC 50 Index up 0.22%. At the same time, Japan’s Nikkei 225 was down 0.58%. This comes after Beijing’s move to support the developers boosted the property sector despite public unrest remaining over zero COVID-19 policy. <cmsannotation type="cmsannotation" annotationid="US markets decline amid protests in China" comment="subhead" text="US markets decline amid protests in China">US markets decline amid protests in China</cmsannotation> US markets declined on Monday with the S&amp;P 500 sliding 1.54%, while the Dow Jones Industrial Average closed 1.45% in the red. The tech-heavy Nasdaq Composite was the most affected, with a decline of 1.58%, with the primary trigger being Apple’s iPhone production being affected by the zero-Covid protests in China. <cmsannotation type="cmsannotation" annotationid="Sensex at 80,000 by December 2023 a possibility, says Morgan Stanley" comment="subhead" text="Sensex at 80,000 by December 2023 a possibility, says Morgan Stanley">Sensex at 80,000 by December 2023 a possibility, says Morgan Stanley</cmsannotation> Analysts at Morgan Stanley said in a note on Monday that Sensex could touch 80,000 by December 2023. However, for this, India will have to be included in the global bond indices, which would help in bringing flows worth $20 billion in the Indian markets. It is worth noting that India’s inclusion in the global bond indices has already been delayed due to tax complexities. Other factors which could give Indian markets a boost next year include a correction in commodity prices and India Inc.’s earnings compounding at 25% through FY25. <cmsannotation type="cmsannotation" annotationid="Stocks in focus" comment="subhead" text="Stocks in focus">Stocks in focus</cmsannotation> Adani Enterprises: The Adani Group in an exchange filing has declined reports that said the flagship firm is looking to raise $5 billion from wealth funds. NDTV: The news media company’s promoter firm RRPR Holding has transferred shares constituting 99.5% of its equity capital to the Adani-owned entity Vishvapradhan Commercial (VCPL). HCL Technologies: The IT major has signed a multi-year contract with Switzerland-based SR Technics, a leading maintenance, repair and overhaul (MRO) service provider in the civil aviation industry, to digitally transform SR Technics’ operations. M&amp;M: The automaker has reportedly recalled the recently launched Mahindra Scorpio-N and XUV700 SUVs on grounds of quality control glitch at the vendor’s end. L&amp;T: The company has announced on exchanges that its arm L&amp;T Energy Hydrocarbon has been awarded with significant projects in the range of ₹1,000 crore to ₹2,500 crore. <cmsannotation type="cmsannotation" annotationid="Stocks in F&amp;O ban on Tuesday" comment="subhead" text="Stocks in F&amp;O ban on Tuesday">Stocks in F&amp;O ban on Tuesday</cmsannotation> Bharat Heavy Electricals (BHEL), Delta Corporation, and Indiabulls Housing Finance are in the F&amp;O ban list on Tuesday, according to the National Stock Exchange. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.37% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.01% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.95% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.81% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.91% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NTPC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.53% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.76% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Petroleum </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.51% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospital </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.59% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;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 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.47% </td></tr></tbody><tbody></tbody><tbody></tbody></table> Source: NSE, Nifty50, as at 10:05 a.m., November 29, 2022 SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/digital-lending-platforms-see-3x-year-on-year-rise-in-disbursals-to-14016-crore-in-q2-fy23/articleshow/95821140.cms">Digital lending platforms see 3x year-on-year rise in disbursals to ₹14,016 crore in Q2 FY23</a> <a href="https://www.businessinsider.in/business/corporates/news/new-age-tech-companies-rake-in-business-but-are-still-making-losses/articleshow/95837559.cms">New-age tech companies rake in business but are still making losses</a> <a href="https://www.businessinsider.in/stock-market/news/here-are-the-top-gainers-and-losers-on-the-nifty500-index-today/articleshow/95829829.cms">Indian markets scale life-time peaks powered by BPCL and Reliance Industries</a>

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New Delhi, Dynamic Cables Ltd has posted a 59 per cent rise in net profit at Rs 11.38 crore during the April-June quarter on account of higher income. The company had clocked a net profit of Rs 7.17 crore during the corresponding period of the preceding 2022-23 fiscal, the company said in a regulatory filing on Monday. The company's total income also rose to Rs 182.14 crore in the quarter under review, from Rs 158.51 crore in the year-ago quarter, a rise of 16 per cent. In a separate statement, company's Managing Director Ashish Mangal said, "We have reported strong numbers in the first quarter of FY24. The growth was driven by healthy demand for our products across domestic and export markets. "We foresee a healthy business environment and long-term demand growth for power cables driven by multiple macro tailwinds." During the April-June period, the Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin was at 11.3 per cent, as compared to 9 per cent in the same quarter of the previous year, the company said. As on June 30, the company's order book was at Rs 394 crore. Dynamic Cables Ltd has three manufacturing units in Rajasthan, where it manufactures power infra cables that includes LT, HT, EHVC, power control and instrumentation cables, flexible and industrial cables, solar cables and railway signalling cables.

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