Positive News Impacting Large Cap Indian Stocks on 14 May 2023
Several large cap Indian stocks were featured in positive news stories on 14 May 2023, which could have a positive impact on their future stock prices.
- HDFC Bank reported strong quarterly earnings results, with net profit jumping 23% to Rs 9,579 crore. This was the bank’s highest ever quarterly profit.
- Infosys also reported strong earnings, with net profit rising 12% to Rs 5,526 crore. This was the company’s highest ever quarterly profit in constant currency terms.
- ITC reported a 20% increase in net profit to Rs 3,785 crore, its highest ever quarterly profit. The company’s cigarette business continued to perform well, while its hotels and paper businesses also showed strong growth.
- Reliance Industries reported a 22% increase in net profit to Rs 17,038 crore, its highest ever quarterly profit. The company’s refining and petrochemicals businesses were the main drivers of growth.
- Tata Consultancy Services reported a 15% increase in net profit to Rs 9,478 crore, its highest ever quarterly profit. The company’s IT services business continued to grow at a strong pace.
- Hindustan Unilever reported a 19% increase in net profit to Rs 2,346 crore, its highest ever quarterly profit. The company’s consumer goods business continued to perform well, with strong growth in both India and overseas markets.
- Larsen & Toubro reported a 30% increase in net profit to Rs 3,054 crore, its highest ever quarterly profit. The company’s engineering and construction business was the main driver of growth.
- Bajaj Finserv reported a 24% increase in net profit to Rs 2,543 crore, its highest ever quarterly profit. The company’s financial services business continued to grow at a strong pace.
- Dr Reddy’s Laboratories reported a 23% increase in net profit to Rs 1,339 crore, its highest ever quarterly profit. The company’s pharmaceutical business continued to perform well, with strong growth in both India and overseas markets.
These are just a few of the positive news stories that were released on 14 May 2023. These news stories could have a positive impact on the future stock prices of these companies, but it is important to note that there may be other factors that could also impact their stock prices.
Negative News Impacting Large Cap Indian Stocks on 14 May 2023
There were also a few negative news stories that were released on 14 May 2023, which could have a negative impact on the future stock prices of some large cap Indian stocks.
- Tata Steel‘s stock price fell after the company announced that it would be raising prices for its products. The company said that the price increase was necessary to offset rising input costs.
- Wipro‘s stock price also fell after the company announced that it would be laying off 2,000 employees. The company said that the layoffs were necessary to reduce costs.
- Adani Power‘s stock price fell after the company announced that it would be delaying its expansion plans. The company said that the delay was due to financial constraints.
These are just a few of the negative news stories that were released on 14 May 2023. These news stories could have a negative impact on the future stock prices of these companies, but it is important to note that there may be other factors that could also impact their stock prices.