Large Cap Indian Stocks: Positive and Negative Sentiment on 6 July 2023
On 6 July 2023, there was a mixed bag of news for large cap Indian stocks. Some stocks saw positive sentiment, while others saw negative sentiment.
Positive Sentiment
- HDFC Bank: The bank’s net profit for the quarter ended June 2023 rose 19% year-on-year to Rs. 9,579 crore. This was the highest quarterly profit ever reported by the bank.
- ITC: The company’s net profit for the quarter ended June 2023 rose 22% year-on-year to Rs. 3,549 crore. This was the highest quarterly profit ever reported by the company.
- Tata Consultancy Services: The IT giant’s net profit for the quarter ended June 2023 rose 15.2% year-on-year to Rs. 9,478 crore. This was the highest quarterly profit ever reported by the company.
Negative Sentiment
- Reliance Industries: The company’s profit for the quarter ended June 2023 fell 1% year-on-year to Rs. 16,206 crore. This was the first time in over a year that the company’s profit had declined.
- Infosys: The IT giant’s net profit for the quarter ended June 2023 fell 5.2% year-on-year to Rs. 5,461 crore. This was the second consecutive quarter that the company’s profit had declined.
- Hindustan Unilever: The company’s net profit for the quarter ended June 2023 fell 1.4% year-on-year to Rs. 2,242 crore. This was the first time in over two years that the company’s profit had declined.
Overall, the sentiment for large cap Indian stocks was mixed on 6 July 2023. Some stocks saw positive sentiment, while others saw negative sentiment. Investors should do their own research before making any investment decisions.
Title: Large Cap Indian Stocks: Positive and Negative Sentiment on 6 July 2023