Sensex down 100 pts; Hudco tumbles 9%, LTTS 3%
Indian stock markets started Wednesday’s trading session on a tepid note as investors assessed geopolitcal developments and the September quarter results of India Inc.
The S&P BSE Sensex slipped 149 points in early deals to quote at 66,279, while the Nifty50 index was hovering below the 19,800-mark.
The broader BSE MidCap and SmallCap indices, meanwhile, gained 0.2 per cent and 0.4 per cent, respectively, on the BSE.
Sectoraly, the Nifty Financial Services fell 0.4 per cent, followed by the Nifty Private Bank index (down 0.3 per cent0. On the upside, the Nifty Media index added 0.7 per cent.
Buzzing stocks:
Hudco: Shares of Housing Urban Development Corporation tumbled 8.8 per cent as the government began selling 7 per cent stake in Hudco through the offer for sale (OFS) route. It has put on the block a total of 140 million shares at a floor price of Rs 79 per share.
Bajaj Finance: Shares of the NBFC fell 1.6 per cent after it reported a 28 per cent year-on-year (YoY) growth in consolidated net profit for Q2FY24 at Rs 3,551 crore. Net Interest Income (NII) expanded by 26 per cent YoY to Rs 8,845 crore.
Zensar Technologies: Shares of the company were flat with a negative bias after its net profit zoomed 206.3 per cent YoY to Rs 173.9 crore in Q2FY24. Total income, however, was up 0.5 per cent YoY at Rs 1,240.80 crore.