On Wednesday, Indian stocks had a subdued opening, as investors responded to assertive comments from the Federal Reserve and kept a close tab on the continuing Middle East turmoil. In the early trading, the benchmark S&P BSE Sensex rose 180 points or 0.2 percent, reaching 73,330, while the broader NSE Nifty index dropped 41 points, also by 0.2 percent, and settled at 22,261.
Despite a year-on-year profit rise of 36 percent in Q4, Dr Reddy's Laboratories saw a near 4 percent drop. Similarly, PB Fintech reported its second consecutive quarter of profit in the Q1 2022 but still witnessed a steep 5.3 percent fall in its shares.
Sonata Software's stocks plummeted by 14 percent due to a year-on-year decline of 3 percent in the company's quarterly net profit, which was caused by substantial deal decision delays.
However, there were also some prominent gainers. Shares of ONGC, Tata Steel, Maruti Suzuki India, BPCL, and Coal India advanced 1-2 percent.
IRB Infrastructure witnessed a rally of 2.3 percent after it announced a 45 percent surge in consolidated net profit for the Q1 of 2024. JSW Energy's shares also rose by 1.2 percent, following a 22 percent increase in its quarterly consolidated net profit year-on-year. After announcing a 41 percent increase in net profit, shares of Delta Corp jumped 3.7 percent.
