Morning News Headlines
• HDFC: Q3 profit surged to Rs 8,372.5 cr versus Rs 2,113.8 cr, NII grew 9.8 percent to Rs 3,296.7 cr YoY.
• InterGlobe: Q3 consolidated profit jumped to Rs 496 cr versus Rs 185 cr, revenue grew 25.5 percent to Rs 9,932 cr YoY.
• Torrent Pharma: Q3 profit rose 2 percent to Rs 251 cr, revenue fell 4.1 percent to Rs 1,966 cr YoY.
• United Spirits: Q3 profit jumped 15.2 percent to Rs 232 cr, revenue increased 2.9 percent to Rs 2,587.6 cr YoY.
• Govt to sell 100% stake in Air India; sets March 17 as deadline for bids.
• ED arrests DHFL CMD Wadhawan for not cooperating in Mirchi PMLA case.
• UltraTech Cement extends gain post Q3 results; stock hits over 7-month high.
• APL Apollo Tubes surges 9%, hits 52-week high on strong Q3 results.
• Metal shares decline as coronavirus fears intensify; JSW Steel falls 5%.
• Reliance Jio has become the largest telecom player with 36.9 crore mobile subscribers in November 2019. Vodafone Idea reported a total mobile subscriber base of 33.62 crore and Bharti Airtel at 32.73 crore customers for November 2019.
• India could be in recession, says Nobel laureate Abhijit Banerjee.
• Bank of Baroda says fresh NPA accretion nearly peaked.
• NTPC Board okays acquisition of govt stake in NEEPCO, THDC.
• Urban cooperative banks report nearly 1,000 frauds worth over Rs 220 crore in past five fiscals: RBI