Shares of IndusInd Bank continued their fall on Wednesday and crashed over 5 per cent after analysts cut earnings per share (EPS) estimates following dismal December quarter numbers.Alembic Pharma received the final nod from the US health regulator for Tizanidine hydrochloride capsules, used to treat spasticity.
Meanwhile, L-T and Capacite Infraprojects won major contracts.The broader market was upbeat, as Nifty Midcap and Nifty Smallcap indices gained 1 per cent each.
BSE benchmark Sensex, however, slipped 80 points to 41,872.
NSE flagship Nifty closed 19 points down at 12,343.After the solid pre-Budget rally, the market is getting a bit sceptical post higher-than-expected NPA numbers in recent banks earnings and very high consumer inflation.
Traders would watch Q3 earnings and the Budget for further direction, said Vinod Nair, Head of Research, Geojit Financial Services.Here is a lowdown of the movers and shakers of Wednesdays session on Dalal Street:L-T Infotech Q3L-T Infotech reported a marginal increase in consolidated net profit at Rs 376.7 crore for the quarter ended December 2019.
This was against Rs 375.5 crore profit reported for the same period a year ago.
The stock added 2.38 per cent to Rs 1,922.90 on BSE.
Sebi denies relief to Axis BankMarkets regulator Sebi rejected Axis Banks plea to allow the lender invoke pledged shares in the Karvy Stock Broking (KSBL) matter.
Shares of the lender closed 0.20 per cent lower at Rs 746.15.Capacite bags Rs 400 cr orderShares of Capacit'e Infraprojects edged 0.98 per cent higher after it bagged an order worth Rs 407 crore for construction of a multi-storied super-specialty hospital building at Sir JJ Hospital campus in Byculla, Mumbai.L-T gets large contractsInfrastructure company Larsen - Toubro (L-T) said its construction arm has bagged a number of large contracts for its various businesses.
Large contracts refer to ones between Rs 2,500 to Rs 5,000 crore.
However, the stock slid 0.18 per cent to Rs 1,323.Future Retail raises $500mKishore Biyani-led Future Retail said it raised $500 million through dollar-denominated bonds.
The bond was issued for a tenure of 5-year (non-call 3-year) at 5.6 per cent, the company said in a regulatory filing.
The scrip slipped 1.5 per cent to Rs 345.25.Alembic Pharma gets USFDA nodShares of Alembic Pharmaceuticals edged 0.29 per cent higher to Rs 563.65 after the drug firm said it received the final nod from the US health regulator for Tizanidine hydrochloride capsules, used to treat spasticity.Sun Pharma deal with RockwellShares of Sun Pharmaceutical Industries gained 0.55 per cent to Rs 448.25 after the company said it entered a licensing agreement with US-based Rockwell Medical to commercialise Triferic an iron replacement and haemoglobin maintenance drug in India.Bharti Airtel raises $2bShares of Bharti Airtel slipped 0.50 per cent to Rs 467.10 after the company said it has raised Rs 14,400 crore (approx.
$2 billion) at a price of Rs 445 per share, which is at a discount of 4.7 per cent to the current level.YES Bank announces EGMShares of YES Bank added 3.24 per cent to Rs 39.80 after the company announced an extraordinary general meeting on February 7.
It also acquired 30 per cent stake in a Reliance Power subsidiary on invocation of pledged shares.IndusInd Bank shares drop 5%IndusInd Bank continued its fall as it slumped 5.44 per cent to Rs 1,400 after the lender reported a spike in provisions and deterioration in asset quality in Q3.
The stock had fallen 4 per cent on Tuesday.Broader indices rallyBroader market indices jumped leaving their headline peers far behind.
Nifty Smallcap index gained 1.05 per cent to 6,229 while Nifty Midcap index rose 1.04 per cent to 17,836.
Nifty500 closed 0.11 per cent higher at 10,087.Who moved my Sensex?IndusInd Bank was the biggest culprit in Sensexs 80 points drop as it bled 46 points.
It was helped by Infosys, HDFC Bank and Reliance Industries, which together cut 70 points.
TCS and Maruti Suzuki offered some support by adding 30 points together.100 stocks turn overboughtAs many as 97 stocks on BSE turned overbought during Wednesdays trade as they crossed above 70-mark on their relative strength index (RSI).
They included Jaiprakash Power Ventures, Spencers Retail, Tata Power, MTNL, Infibeam Avenues, National Fertilizers, Dabur India, IGL, Inox Wind and JM Financial, among others.