On Wednesday, the market was seen struggling around critical levels as the benchmark indices tumbled by half a percent. After its day\u2019s high of 50,279.01 points, Sensex closed nearly 400 points lower at 49,902.65 points. It was down by 290.69 points or 0.58% as compared to its previous close. Nifty, on the other hand, was down by 77.95 points or 0.52% below by the closing bell. Metal, financial, and auto indices dragged the market the most while realty, power, and healthcare indices offered support to the same.
Adani Green:
The stocks of Adani Green rallied by more than 3% on account of its plans to acquire the renewable energy portfolio of SB Energy India. As a part of the announcement, the green energy leader will acquire the renewable power portfolio of 5 GW from SB Energy. It involves a fully completed Enterprise Evaluation (EV) worth Rs. 26,000 crores or $3.5 billion. Adani Green closed at Rs. 1,241.55 on Wednesday.
Happiest Minds:
Happiest Minds has recently executed a digital transformation project aimed at streamlining the order management of Coca Cola Bottling Company United. The company announced that the project leverages Microsoft Power Automate for RPA. Its share was up by 1.63% against its previous close at Rs. 760.25.
Torrent Pharma:
Torrent Pharma reported a 2.9% increase in its Q4 net profit, which stood at Rs. 324 crores as compared to Rs. 315 crores in the previous quarter. The revenue simultaneously dipped from Rs. 1,946 crores to Rs. 1,937 crores of the pharmaceutical major. Nevertheless, the company\u2019s margin stood at 30% and its EBITDA increased by 6.2% and was at Rs. 582 crores as per its filing. Torrent Pharma stock zoomed by 1.25% during the day trade and traded at Rs. 2,757.85 by the closing bell.
Tata Motors:
The auto major\u2019s stock price dipped by 5.52% as it reported a consolidated loss of Rs. 7,605.4 crores during the Q4 FY2021. In the previous quarter, the firm had reported a profit of Rs. 2,906.45 crores. The loss came even as Tata Motors experienced a steep rise in its revenues. The consolidated losses were, however, lower as compared to Rs. 9,894.25 reported during the year-ago period. Tata Motors closed at Rs. 314.10 on Wednesday.
Jindal Stainless (Hisar)
The consolidated profits of the Jindal Stainless (Hisar) climbed more than 300% in Q4 FY2021 as compared to the year-ago period and stood at Rs. 350.65 crores. It was Rs. 108.35 crores in Q4 FY2020. Revenues also experienced a similar boost and rose from Rs. 2,246.07 crores to Rs. 3,102.77 crores YoY. Jindal Stainless (Hisar) was up by 1.55% at Rs. 183.95 by the closing bell.
Gland Pharma
Gland Pharma posted a consolidated net profit of Rs. 260.4 crores for Q4, which was up by about 34% on the back of strong sales experienced by the firm. During the year-ago period, the pharmaceutical company had posted a net profit of Rs. 194.8 crores. The stock jumped by 7.69% during the day trade and stood at Rs. 3,298.
Mr. Aamar Deo Singh
Head Advisory, Angel Broking Ltd<\/p>\n","protected":false},"excerpt":{"rendered":"