Gold Silver Reports (GSR) – Indiabulls Real Estate Gains After Buyback Plans – Shares of the real estate developer rose as much as 10.5 percent, the most in 10 days to Rs 205.35. The company’s board plans to consider buyback in a meeting on Friday, according to its stock exchange filing. Trading volume was 2.8 times its 20-day average. The stock declined 11 percent so far this year.
Market Check: Smallcap Index Recovers
✅ Indian equity benchmarks maintained losses as investors shifted focus from quarterly earnings towards the political uncertainty in Karnataka.
✅ The S&P BSE Sensex traded 0.5 percent lower at 35,358 as of 11:20 a.m., while the NSE Nifty 50 Index traded at 10,737, down 0.6 percent.
✅ The NSE Nifty Smallcap Index pared losses and rose 0.1 percent.
Tata Steel Declines Ahead of Q4 Earnings
Shares of the country’s second-largest steelmaker by market value fell as much as 1.1 percent to Rs 617, ahead of its earnings announcement. The company is expected to swing to profit in March quarter, according to analysts surveyed by Bloomberg.
✅ Revenue is expected to be flat at Rs 32,787 crore.
✅ Ebitda seen down by 16.4 percent to Rs 5,877 crore.
✅ Margins seen contracting to 17.9 percent versus vs 21 percent.
✅ Net Profit seen at Rs 2271.83 crore versus net loss of Rs 725 crore.
✅ Volume seen down by 5.4 percent 6.46 MT versus 6.83 MT.
Ebitda per tonne seen down 11.6 percent to Rs 9,096.
