Stock Market Highlights: Sensex ends 460 pts higher, Nifty50 reclaims 17,600 as market cheers RBI policy; Solara Active plunges

Thank you, readers! That's all from CNBC-TV18.com's live market coverage on February 10, 2022. Catch all RBI policy updates here

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There will be several winners in API race: InCred PMS's Aditya Khemka

Aditya Khemka, Fund Manager at InCred PMS, is of the view that there are going to be several winners in the API race. "You will be able to find the next Divi’s Laboratories, you just have to look harder and you have to wait for a longer period of time - one, two or six months just isn't enough," he says. 

According to him, most API companies have two problems to deal with in Q4:

--High volume base of last year

--Regular pricing pressure

"Solara, like most other API companies, faced similar problems in the business, which is obviously reflecting in its results. For all these API companies, maybe excluding Solara, the pressure is very transitory, because as they pass on the price pressure or the raw material to share to their customers, the business will come back... In the next year,  growth will also be normalised... In the PMS that I manage, we own Neuland Laboratories, Divi’s Laboratories, Sequent Scientific and Laurus Labs," he adds. 

Rupee ends lower at 74.94 vs US dollar

The rupee slips to 74.94 against the greenback at the close. On Wednesday, it had settled at 74.81.

Rakesh Jhunjhunwala, others to pick up stake in DB Realty

DB Realty said on Wednesday that it would allot five crore warrants to six non-promoter investors, including Rakesh Jhunjhunwala and his wife.

“The company proposes to allot 1 crore warrants each to Rekha Jhunjhunwala, Rakesh Jhunjhunwala's RARE Investments, Abhay Chandak and Aditya Chandak. It will also allot 50 lakh warrants each to Lotus Family Trust and KIFS Dealers,” according to a regulatory filing. (Read more)

Q3 Results | Amara Raja profit down 25% at Rs 145 crore, revenue up 21%

Amara Raja Batteries net profit down 25 percent on a year-on-year basis at Rs 145.3 crore for the December quarter. Its Q3 revenue up 20.7 percent at Rs 2,366 crore. 

The company's margin declines to 12 percent in Q3 from 15.7 percent in the year-ago period. 

Amara Raja Batteries shares ende down 0.2 percent at Rs 620.7 ahead of the earnings announcement. 

Market At Close | Sensex, Nifty50 rise after RBI’s dovish monetary policy

Here are some highlights: 

--Nifty Bank gains 401 points to 39,011

--Midcap index up 86 points at 30,343

--Financial, metal stocks among top Nifty gainers

--Infosys, HDFC, HDFC Bank, Kotak Mahindra Bank Top Nifty contributors

--ONGC top Nifty gainer, up 3 percent as crude rises

--Midcap underperformance keeps market breadth in favour of declines

--Maruti slips from 52-week high, down 2 percent

--Page Industries, Bharat Forge fall 3 percent after Q3 earnings miss estimates

--Aurobindo Pharma among top midcap gainers following management commentary

--JSPL, GNFC, Firstsource, Vodafone Idea, LIC Housing, Laurus Labs top midcap gainers

--Housing finance stocks rise as RBI keeps rates unchanged

--Adani Wilmar gains for 3rd straight day, locked in upper circuit

--Solara Active locked in lower circuit after weak Q3 earnings 

Closing Bell | Sensex up 460 points, Nifty reclaims 17,600

Both headline indices close with gains of 0.8 percent. The 30-scrip index rises 460.1 points to 58,926 and the broader Nifty50 settles at 17,605.9, up 142.1 points from its previous close.

Gains in financial, IT, metal and consumer goods shares pushed both indices higher, though losses in oil & gas stocks limited the upside. (Read more on the closing bell)

Infosys, HDFC twins, Kotak Mahindra Bank, SBI top index movers

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Q3 Results | Dr Lal Pathlabs net profit down 39%, revenue up 10%

Dr Lal Pathlabs' Q3 net profit declines 39.3 percent on year to Rs 58.2 crore. The diagnostics company's quarterly revenue up 9.8 percent on year at Rs 497 crore.

However, its margin down at 22 percent in Q3, as against 30.7 percent in the year-ago period.   

The stock down 1.4 percent at Rs 2,918.9.

Q3 Results | Dr Lal Pathlabs net profit down 39%, revenue up 10%

Dr Lal Pathlabs' Q3 net profit declines 39.3 percent on year to Rs 58.2 crore. The diagnostics company's quarterly revenue up 9.8 percent on year at Rs 497 crore.

However, its margin down at 22 percent in Q3, as against 30.7 percent in the year-ago period.   

The stock down 1.4 percent at Rs 2,918.9.

Q3 Results | Net profit jumps nearly 4 times to Rs 337.3 crore, beats Street estimates

Bharat Forge net profit grows nearly four times on a year-on-year basis to Rs 337.3 crore for Q3. Its revenue increases 54.7 percent on year to Rs 1,602 crore. 

Analysts in a CNBC-TV18 poll had estimated the company's quarterly net profit at Rs 246 crore and revenue at RS 1,537 crore. 

The company says a drop in export was caused by the shortage of Semiconductor chips. Supply chain issues persist, creating a hangover in the company's export markets, it adds. 

The stock down 2.8 percent at Rs 727.3 in late afternoon deals. (Read more on Bharat Forge)

Q3 Results | Hindalco aluminium, copper EBITDA beat Street estimates

The Aditya Birla group company's aluminium EBITDA jumped 2.6 times to Rs 3,376 crore and copper EBITDA increased 93.1 percent to Rs 390 crore. 

Analysts in a CNBC-TV18 had estimated the company's aluminium EBITDA at Rs 3,103 crore and copper EBITDA at Rs 325 crore. 

The stock rises as much as 1.7 percent to Rs 551.7 after the announcement. 

Q3 Results | Bombay Dyeing net loss widens to Rs 217.3 crore, revenue up 36%

The stock up 1.2 percent at Rs 120.2 in afternoon deals. 

Challenges in pharma in current quarter: Centrum Broking's Nischal Maheshwari

Nischal Maheshwari, CEO-Institutional Equities and Advisory at Centrum Broking, believes there are challenges on the API front for Aurobindo Pharma and Solara Active. Centrum does not cover the companies. 

He also says challenges persist for the pharma space in the current quarter. 

"We are seeing this kind of issue in several of the companies. So wherever we are having large amounts of export revenues, we are seeing challenges out there especially on the raw material side... Also the API costs still seem to be high," he adds. 

Strides Pharma Q3 | Company says on track to achieve US FY23 growth outlook

The company says its growth momentum in other regulated markets will continue in the coming quarters. 

The stock down 1.9 percent at Rs 387.5, having fallen as much as 3.4 percent earlier in the day.