Q3 results today: Asian Paints, LTIMindtree, ICICI Prudential, IIFL Finance among 22 companies to report Q3 earnings

Q3 Results 2023: Indian markets are poised to witness a diverse display of financial performances as several companies unveiled their Q3 results on January 17. From paint giants to life insurers, technology firms to housing finance players, the day is painted with a spectrum of different sectors' Q3 results.

The momentum in the stock market reversed on January 16, bringing an end to a five-day rally. The BSE Sensex concluded the day with a decline of 199 points, closing at 73,129, while the Nifty 50 also experienced a downturn, finishing 65 points lower at 22,032.

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Companies releasing Q3 results today

A total of 22 companies are scheduled to release their Q3 results today. These include Asian Paints, LTIMindtree, ICICI Prudential Life Insurance Company, Oracle Financial Services Software, IIFL Finance, Alok Industries, Happiest Minds Technologies, D B Realty, Star Housing Finance, eMudhra, Som Distilleries & Breweries, Hindustan Media Ventures, Quest Capital Markets, and Roselabs Finance.

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The Indian stock market indices, Sensex and Nifty 50, ended lower on Tuesday, snapping their five-day winning streak amid negative global cues.

“Key indices scaled record highs, but failed to capitalise as lack of cues due to closure of US markets on Monday saw investors book profit in IT, telecom, realty and power stocks, which halted the recent upsurge. Weak Asian and European market cues coupled with a sharp fall in rupee against the dollar also dented the sentiment, which prompted investors to trim their equity exposure,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

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Additionally, India’s largest private sector lender HDFC Bank, registered a 2.5 per cent sequential growth in net profit at ₹16,372.54 crore for the December quarter, partly affected by higher bad loan provisions. Net interest income grew by 4 per cent sequentially to ₹28,471 crore during the quarter.