Mahindra & Mahindra Q2 Results: Net Profit Jumps 35%
These stocks are likely to be in focus for the upcoming trading session!
Last Updated: 13th December 2022 - 06:05 am
Without any major trigger, the domestic market settled flat after a volatile session on the last trading day of the week.
Domestic investors remained cautious and exhibited some profit booking looking at a short upcoming week due to the Diwali holidays.
Sensex settled 104.25 points or 0.18% at the 59,307.15 level while Nifty gained 12.30 points or 0.07% at the 17,576.30 level. Axis Bank, Kotak Mahindra Bank, ICICI Bank, HUL and SBI Life Insurance were among the top Nifty gainers, while losers included Bajaj Finance, Bajaj Finserv, Divis Labs, Adani Ports and UPL.
Watch out for these stocks for Tuesday’s trading session:
Bajaj Finance - The company's shares plunged more than 3% on an intraday basis. The company's profit improved 88% on a YoY basis to Rs 2,781 crore for the quarter that ended September 2022. The company reported the highest-ever consolidated quarterly profit while net interest income grew by 31% to Rs 7,001 crore. New loans booked up by 7% on a YoY basis whereas Assets under management (AUM) advanced 31% to Rs 2.18 lakh crore.
UPL - The company announced a strategic corporate realignment by creating distinct ‘pure-play’ business platforms – to unleash growth potential for each of these platforms through enhanced focus (led by specialised and dedicated teams) and efficient deployment of resources. The realignment will unlock value for UPL shareholders by facilitating ‘fair value recognition’ of the ‘distinct pure-play platforms. The shares of UPL ended 1.68% lower.
Delhivery - The shares of Delhivery have crashed more than 17%, continuing to fall on the second day. The company is expecting moderate growth of shipment volumes for the rest of FY23 due to high inflation, average user spending, and total active shoppers remaining flat or declining during the ongoing festive season. The company's guidance on flat festive sales and moderate growth in FY23 made the investor cautious regarding the outlook for the stock.
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