Q3 Results Today: Several major companies across various sectors, including Siemens, Hindalco Industries, Eicher Motors, BHEL, IRCTC, Bosch, Info Edge (India), Oil India, Prestige Estates Projects, Gujarat Gas, ITI, Deepak Nitrite, National Aluminium Company, NBCC, Hindustan Copper, KIOCL and Zee Entertainment Enterprises, are set to report their earnings today, February 13, 2024.
On February 12, the BSE Sensex experienced a decline of 523 points, settling at 71,072, whereas the Nifty 50 dropped 167 points to reach 21,616. This downturn was primarily attributed to selling pressure observed in banking & financial services, metal, FMCG, and oil & gas stocks. The broader market indices, Nifty Midcap 100 and Smallcap 100, also witnessed significant selling pressure, declining by 2.5 per cent and 4 per cent, respectively.
Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said, “Due to lack of fresh positive triggers, investors are using the opportunity to redeem their investments, which fuelled broad-based selling pressure. With valuations getting stretched and no major change in fundamentals, mid and small-cap stocks were the worst hit as they had rallied sharply ahead of the fundamentals last year. Also, FIIs have been selling in recent months, which is making investors nervous and prompting them to steadily trim their holdings. Technically, 21557 mark is now crucial support level to watch out for followed by 21137, while the index faces resistance at 21832-22127 levels.”
Around 34 companies are scheduled to post earnings on February 13
Siemens, Hindalco Industries, Eicher Motors, BHEL, IRCTC, Bosch, Info Edge (India), Oil India, Prestige Estates Projects, Gujarat Gas, ITI, Deepak Nitrite, National Aluminium Company, NBCC, Hindustan Copper, KIOCL, Zee Entertainment Enterprises, RHI Magnesita India, Eris Lifesciences, PTC Industries, Nuvama Wealth Management, Bombay Burmah Trading Corporation, Bengal & Assam Company, Garden Reach Shipbuilders & Engineers, Genus Power Infrastructures, Inox India, Rashtriya Chemicals & Fertilizers, Techno Electric & Engineering Company, India Bulls Real Estate, Arvind Fashions, Sula Vineyards, Senco Gold, Borosil, La Opala RG, MTNL, Medi Assist Healthcare Services, TVS Srichakra.
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Published: 13 Feb 2024, 09:01 AM IST