Stock Market Updates: Market opened with an edge, today’s top 5 shares on which investors will be eyeing
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The Sensex was trading at a level of 61,904.75 with a gain of 140.5 points, or 0.23 per cent. At the same time, Nifty was trading at 18305 level with a gain of 41.10 points i.e. 0.22 percent.
Buying is visible in the domestic stock market amid weak global cues. In today’s trade, both the Sensex and Nifty indices have strengthened. The Sensex is up by about 140 points in the market. The Sensex was trading at a level of 61,904.75 with a gain of 140.5 points, or 0.23 per cent. At the same time, Nifty was trading at 18305 level with a gain of 41.10 points i.e. 0.22 percent. The shares of COALINDIA, BAJAJFINSV, ADANIENT, TATAMOTORS, INDUSINDBK are in green color i.e. in growth, while the shares of UPL, SUNPHARMA, SBIN, HINDUNILVR, SBILIFE are seen in red color i.e. weak. In today’s business, buying is being seen in every sector. Most of the indices including Bank, Financial, IT, Auto, Metal and Pharma are showing green mark on Nifty. Today i.e. 09 May 2023, some stocks are ready to show action in a volatile market. These stocks can remain in focus in the market today. If you are looking for better stocks in intraday then you can keep an eye on these.
Indian Bank
Public sector Indian Bank’s profit rose 47 per cent to Rs 1,447 crore in the March quarter. The bank said that its result was better due to reduction in bad loans and increase in interest income. In the same period a year ago, the bank had earned a profit of Rs 984 crore. The total income of the bank increased from Rs 11,405 crore to Rs 14,238 crore on an annual basis. Interest income increased to Rs 12,244 crore from Rs 9,832 crore in the same period a year ago.
upl
The profit of UPL, a company providing agricultural solutions, declined by 42.56 percent to Rs 792 crore in the March quarter. The company had posted a profit of Rs 1,379 crore in the same period of the previous financial year. The revenue grew by 4.46 per cent to Rs 16,569 crore in the March quarter as compared to Rs 15,861 crore in the same period a year ago.
Canara Bank
Public sector Canara Bank’s profit almost doubled to Rs 3174.74 crore in the March quarter. Its profits increased mainly due to higher interest income. The bank had registered a profit of Rs 1,666.22 crore in the January-March quarter of 2021-22. Net interest income increased by 23.01 per cent to Rs 3232.84 crore.
Exide Industries
Battery maker Exide Industries reported a profit of Rs 181 crore in the March quarter. Earlier, in the same quarter of the financial year 2021-22, the company’s profit was Rs 3953 crore. Exide Industries’ operating income rose to Rs 3,677 crore for the quarter ended March 31, 2023, from Rs 3,523 crore in the year-ago quarter.
VIP Industries
Suitcase maker VIP Industries has incurred a loss of Rs 4.26 crore in the March 2023 quarter. The company incurred losses during the quarter due to some exceptional losses. The company had earned a net profit of Rs 12.39 crore in the January-March quarter a year ago. The company’s operating income grew 26.6 per cent to Rs 450.57 crore during the March quarter from Rs 355.90 crore in the year-ago period.
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