The US markets ended in the green after a day of consolidation. Back home on Wednesday, both Sensex and Nifty staged a sharp recovery in the afternoon trade and managed to end in the green, with the Nifty above 21,800 and the Sensex ending 267 points higher at 71,822. The Nifty Bank surged 1000 points from the day’s low to end at 45,908.
Top stocks to watch today are NMDC, Indiabulls Housing Finance, Muthoot Finance, Crompton Consumer, Utkarsh SFB.
NMDC: Shares of NMDC will be in focus today after the company posted its Q3 earnings. The company’s Q3 net profit surged 62.6% YoY to Rs 1,469.7 crore. The company announced its first interim dividend of Rs 5.75 per share.
Indiabulls Housing Finance: Indiabulls Housing Finance posted a weak set of Q3 earnings. Its Net Interest Income declined 28.3% YoY to Rs 350.1 crore against Rs 488.7 crore. The cost to income ratio came in at 24.4% against 29.35%YOY & 23.9% QoQ.
Muthoot Finance: Muthoot Finance share price will be in focus today on the back of its Q3 earnings. The company’s Gold AUM grew 2.5% on a QoQ basis and 22% on a YoY basis led by higher gold prices while new customer adds slowed. Its overall profit after tax grew 13.9% YoY to Rs 1,027 crore against Rs 901.7 crore posted in the same period a year ago.
Crompton Consumer: Crompton reported a weak set of Q3 earnings with its net profit declining 3.1% on a YoY basis to Rs 85.45 crore. The company’s revenue surged 11.6% to Rs 1,693 crore from Rs 1,516 crore in the same period a year ago.
Utkarsh Small Finance Bank: Utkarsh Small Finance Bank in an exchange filing on Tuesday said that the bank’s board will evaluate a proposal for a reverse merger with its holding company, Utkarsh CoreInvest.
