Its net profit stood at Rs 60.87 crore in the year-ago period.
Foreign institutional investors (FIIs) have pulled out more than Rs 12,000 crore from Indian capital markets so far in the month of September
Total income rose to Rs 171.35 crore during April-June, 2018-19 from Rs 89.65 crore in the year ago period.
339 stocks hit a new 52-week low. These include ACC, Ajanta Pharma, BHEL, GE T&D, Granules India, HCL Infosystems, HDIL, IDFC Bank, India Cements, JK Tyre, Kwality, Mcleod Russel, PTC India Financial, Titagarh Wagons and Unitech among others.
101 stocks hit new 52-week low including names like Amtek Auto, Balrampur Chini, BEL, HCC, IDFC Bank, Reliance Power, Suzlon Energy, Chennai Petro, HDIL, Idea Cellular, HUDCO and Kwality among others.
The market breadth was in favour of the declines with 677 stocks advancing while 1039 declined and 302 remained unchanged. On the other hand, in the BSE, 989 stocks advanced and 1634 declined and 149 remained unchanged.
Nifty has formed two consecutive 'Doji' candlestick pattern on daily scale indicating indecisiveness at current level. It is hovering around 100 SMA of 10,440 levels. A congestion area has developed and the Nifty is seen oscillating in a capped range of 10380-10630 levels," says Rajesh Agarwal of AUM Capital.
CA Rudramurthy BV, Research Head at Vachana Investments recommends buying HDIL, Jindal Steel & Power and Hexaware Tech.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy Sonata Software and can sell JSPL and HDIL.
Most experts are calling this to be a pre-budget rally and the euphoria is tied up to the Budget, and thankfully the December quarter earnings have not been bad in fact some of them were better than estimates.
The market breadth was in favour of the advances on Wednesday morning with 960 stocks advancing as against 649 declines while 389 remained unchanged. On the other hand, 1357 stocks advanced and 868 stocks declined while 89 remained unchanged on the BSE.
"The company has proceeded for settlement of its balance outstanding dues and has made part payment of its balance dues. The application stands withdrawn from NCLT by Andhra Bank," HDIL said in a BSE filing.
Realty firm HDIL has partly repaid the outstanding loans to Andhra Bank and is in talks to settle the dues.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy Edelweiss Financial Services and sell Reliance Naval and Engineering and HDIL.
Stocks like Infibeam slipped up to 39 percent in the trade before recouping some of the losses while, India Cements slipped 5 percent, Indo Count Industries dropped 6 percent in mid-morning trade.
According to Sudarshan Sukhani of s2analytics.com, one can buy Yes Bank, Hindustan Zinc and Indraprastha Gas and sell Apollo Hospitals Enterprises while one can avoid HDIL.
According to Prakash Gaba of prakashgaba.com, 9750 is a crucial support to deal with and 9877 a strong resistance while he has buy recommendations on stocks including Bajaj Finserv, Biocon, HDIL and Jubilant Foodworks.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Bharti Airtel and hold ICICI Prudential while one can sell OBC and HDIL.
Rajat Bose of rajatkbose.com is of the view that one can buy HDIL and can sell Escorts and NMDC.
HDIL has been reeling under pressure as the National Company Law Tribunal (NCLT) has initiated proceedings against its subsidiary. In an interview to CNBC-TV18 Sarang Wadhawan, VC & MD of the company shared his views on the same.
Ashwani Gujral of ashwanigujral.com is of the view that ICICI Bank may fall 10 percent and recommends shorting Tata Chemicals while SRF can move higher.
According to Mitessh Thakkar of miteshhthakkar.com, one can sell Amara Raja Batteries, HDIL and Tata Motors DVR and buy Havells India.