After opening the day flat, Indian share markets turned volatile as the session progressed and ended the day lower.Benchmark indices ended lower on Thursday, the day of weekly F&O expiry, amid fag-end selling. Further, concerns about supply are giving way to doubts about plunging refinery profits in China and Europe, lackluster physical cargo trading, and an uncertain economic outlook for the US.At the closing bell, the BSE Sensex stood down by 143 points.(down 0.2%)Meanwhile, the NSE Nifty closed lower by 48 points (down 0.3%).M&M, Apollo Hospital and Power Grid Corporation were among the top gainers today.HUL, Adani Enterprises, and ONGC on the other hand, were among the top losers today.The GIFT Nifty was trading at 19,475, down by 26 points, at the time of writing.The BSE MidCap index ended marginally up while the BSE SmallCap index ended lower by 0.3%.Sectoral indices ended mixed with stocks in the realty sector, auto sector and metal sector witnessing most of the buying. Meanwhile stocks in energy sector, IT sector and media sector witness selling.Shares of TVS Motors, Patanjali Foods and Godrej Properties hit their respective 52-week highs today.Now track the biggest movers of the stock market using the stocks to watch today section. This should help you keep updated with the latest developments…Asian share markets ended in positive territory. The Shanghai Composite ended marginally higher while the Nikkei index rose 1.5%.The rupee is trading at 83.29 against the US$.Gold prices for the latest contract on MCX are trading 0.3% lower at Rs 59,836 per 10 grams.
Page Industries Q2 Net Profit Falls 7.3%In the news from the textile sector, Page Industries, on 9 November 2023, reported a consolidated net profit of Rs 1.5 billion (bn) for the September quarter of FY24, declining 7.3% compared to Rs 162.12 in the year-ago period.Total revenue of the company came in at Rs 11.3 bn, falling 8.4% from Rs 12.3 bn in the year-ago quarter.Earnings before interest, tax, depreciation, and amortization (EBIDTA) for the quarter were at Rs 2.3 bn, declining by 1.9% YoY. The EBIDTA margin was 20.7% versus 19% YoY.The company’s growth strategy remains firm, with a focus on sustainable, long-term expansion.This approach aims to enhance consumer experiences, diversify product offerings, improve operational efficiency, and adopt digital transformation.The company is dedicated to strengthening the company’s market position and preserving operational profitability through disciplined cost management and optimizing the company’s supply chain.The company’s distribution network expansion plans are progressing as planned, with a strategic emphasis on major cities and tier 2 and 3 locations.Additionally, the company is committed to bolstering the company’s online presence through E-commerce, aligning with changing consumer shopping preferences.
Promoter holding in Page Industries has gone down in Q2.
Apollo Hospitals Q2 ResultsMoving on to news from the healthcare sector, hospital chain Apollo Hospitals today reported a 14.2% year-on-year (YoY) increase in net profit at Rs 2.3 bn for the July-September quarter.The company reported a net profit of Rs 2 bn in the same period a year ago.The hospital operator reported better-than-expected revenue at Rs 48.5 bn, reflecting a 14% YoY rise. The company had a revenue of Rs 42.5 bn in the same quarter the previous year.EBITDA (Earnings before interest, taxes, depreciation, and amortization) was reported to be Rs 6.3 bn in the quarter against Rs 5.6 bn in the same period last year.EBITDA margin for the July- September quarter was reported to be 12.9% as against 13.3% for the same period a year ago.As of 30 September 2023, Apollo Hospitals had 7,765 operating beds across the network (excluding AHLL & managed beds), out of which 5,051 is occupied beds. The overall occupancy for hospitals was at 68% against 62% in the trailing quarter, aided by a robust increase in patient flows across hospitals. The Board approved a capex of Rs 34.4 bn for the company.Diagnostics and Retail Healthcare wing Apollo Health and Lifestyle Limited reported gross revenue at Rs 3.5 bn; up 11% YoY.Digital Healthcare and Omni-channel Pharmacy platform Apollo HealthCo houses the Pharmacy distribution business, the digital healthcare services platform – Apollo247, and a 25.5% interest in Apollo Pharmacies.
Why Vodafone Idea Share Price Is RisingMoving on to news from the telecom sector, shares of Vodafone Idea rose 2.5% in the early trade on 9 November after the Bombay High Court directed the income-tax department to refund Rs 11.3 bn paid by the telecom operator in dues in 2016-17.The court deemed the assessment order against the telecom major as unsustainable and time-barred. This is in relation to an assessment order passed to by an income tax officer on 31 August to Vodafone Idea, two years after a dispute resolution panel issued directions to the telecom major.Vodafone Idea contested the order, saying the assessing officer failed to deliver a final verdict within the stipulated 30-day period.More By This Author:Sensex Today Ends Flat; Pharma & Realty Stocks ShineSensex Today Trades Flat; ICICI Bank & NTPC Top LosersSensex Today Ends Flat; Nifty Holds 19,400
Sensex Today Ends 143 Points Lower
