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OPENING BELL
The Nifty50, on the other hand, was at 18,073, down 46 points or 0.25 per cent. Tata Motors, Maruti Suzuki, Cipla, Bajaj Auto, Hero MotoCorp, and M&M were the top 50-pack gainers, while Adani Enterprises, HCL Tech, Adani Ports, L&T, IndusInd Bank, Infosys, and Tech M remained top laggards.
In the broader markets, the BSE MidCap and SmallCap indices dropped 0.3 per cent and 0.14 per cent, respectively.
Buzzing stocks
Maruti Suzuki gained 1 after the auto major on Tuesday reported a 129.7 per cent YoY surge in consolidated net profit for Q3FY23 to Rs 2,391 crore, primarily due to price hikes, better demand for its top-end models, and declining raw material costs.
TVS Motor Company shares, too, climbed 3 after the company posted a 28 per cent YoY rise in net profit for Q3FY23 at Rs 303.60 crore from Rs 236.56 crore in Q3FY22.
Coffee Day Enterprises, on the flipside, shed 2 after Sebi imposed a penalty of Rs 26 crore on the company for alleged violation of securities laws.
SBI Card shares declined 1 per cent as the company’s Q3 results missed estimates. The company reported a 32 per cent YoY jump in net profit at Rs 509 crore for Q3FY23, aided by healthy interest income and drop in impairment losses and bad debts.
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