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Hindustan Aeronautics profit increases 10 percent for September quarter

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The Domestic stock market on Friday ended 79 points or 0.2 percent lower at 35,158, while Nifty finished at 10,585, reportedly down from the previous close.

According to report, shares of YES Bank (up 4.98 per cent), IDFC Bank (up 2.82 per cent), RBL Bank (up 1.46 per cent) and Axis Bank (up 1.11 per cent), were trading in green.

Besides these banks, Punjab National Bank (up 0.99 per cent), Federal Bank (up 0.86 per cent) and Bank of Baroda (up 0.77 per cent) too were trading positively.

However, top laggards on the 50-scrip index were Bharti Airtel, Infosys, Hindalco Industries, Dr Reddy’s and GAIL, closing around 2-3 per cent lower.

“We don’t have much of a positivity from Asia…volatility is also slightly up, being the last working day of the week,” news agency Reuters cited Anand James, chief market strategist at Geojit Financial Services, as saying.

Pharmaceutical and Infrastructure were the top gainers. While energy and metal names ended in the negative note. There was a strong surge in the midcaps space as well, with Nifty Midcap closing over a percent higher.

Shares in telecom major Bharti Airtel on Friday closed 2.9 per cent lower, a day after rating agency Moody’s placed the company’s credit rating on review for a downgrade citing low levels of profitability and expectations of weak cash flow.

According to Moneycontrol report, Hindustan Aeronautics (HAL) posted a huge jump in its net profit for September quarter at Rs 289.42 crore. The company had posted a profit of Rs 67.9 crore last year.

The revenue has been increased by 10 percent at Rs 2,610 crore against Rs 2,373 crore reported last year.

The Sensex finished the week with a gain of 146 points (0.4 per cent).

Also read: Stock market update: Sensex below 100 points and Nifty loses over 10,550