Markets extended losses with benchmark indices moving backward after opening at new record high levels. During the mid-session, the profit selling emerged as crude oil prices stood strong. As a result, the Sensex slipped below 41720 and the Nifty reached 12,289-level.
Meantime, following stocks reacted negatively based on their recent result updates:
Reliance Industries Limited on Saturday updated its quarterly earning numbers. The Company’s consolidated net profit rose 13.5-pc at Rs11640-Cr for Q3FY20, while revenue slipped 1.4-pc to Rs1,68,858-Cr on account of weaker prices of oil and chemicals, as reported by the Company. The net profit rose 7.4-pc to Rs.9585-Cr while revenue slipped 13.1-pc to Rs.93,741-cr.
During mid-noon session, the shares of Reliance Industries stood at Rs.1543.60 down by 2.37 pc or Rs.37.40 from its previous closing.
Likewise, shares of HCL Technologies slipped nearly 1 percent to Rs.592.90-per share even after the Company reported a net profit of 13 percent to Rs3,037-Cr, and operational revenue growth of 15.5 percent to Rs.18,135-cr.
Shares of Tata Consultancy Services (TCS) slipped 2.26 percent to Rs.2,169.00 after the company posted a 0.2 percent year-on-year rise in net profit at Rs8,118-Cr for Q3FY20.To get more information Stock Tips and free trading tips visit our webiste.
Shares of L&T Finance Holdings went down at Rs120.35, lower by 5.42 percent from the previous closing of Rs125.90. The Company reported a marginal 1.8-pc rise in net profit-console to Rs.591.47-Cr during the third quarter of FY20.
Shares in the ICICI Lombard General Ins Co slipped 2.50 percent to Rs.1,377.15 even after the Company net profit increased by 23 percent to Rs 294.11-Cr, year on year.
Shares of L&T Technology Services went down over 1 percent to Rs.1,625.05 despite the competed reported a consolidated net profit increase at Rs 204-Crore for Q3FY20.
At 1.30-pm, the Sensex stood at 41651, down by 294 points and the Nifty tested at 12267, down by 85-points.