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POST-MARKET REPORT
Equity benchmarks the Sensex and the Nifty rallied a percent aided by buying on the budget eve and ahead of the US Federal Reserve meeting outcome.
At close, the Sensex was up 612.21 points, or 0.86 percent, at 71,752.11, and the Nifty was up 203.60 points, or 0.95 percent, at 21,725.70. The Sensex fell 0.67 percent for the month, while the Nifty ended flat.
The biggest Nifty gainers included Dr Reddy’s Laboratories, Eicher Motors, Sun Pharma, Divis Labs, and Tata Motors, while the losers were L&T, Titan Company, Tata Consumer, and BPCL.
Except for capital goods, all sectoral indices ended in the green, with auto, bank, healthcare, power, metal, and realty up 1-2 percent.
The BSE midcap index added 1.5 percent and the smallcap index nearly 2 percent.
The Indian rupee stands at 83.05 against the US dollar.
STOCKS TODAY
Voltas: Shares of Voltas jumped 7.09 percent a day after the company reduced its net losses in the December quarter. The company reported a net loss of Rs 27.6 crore, down from a loss of Rs 110 crore in the last fiscal. The losses shrank on better sales as revenue surged 31 percent on-year to Rs 2,625.7 crore.
Zodiac Energy: Shares of Zodiac Energy ended 2 percent down after the company entered into a power purchase agreement with Uttar Gujarat VIJ Company. The 5 MW PPAs are part of the total allotted capacity of 26.8 MW by UGVCL to Zodiac Energy Limited.
Tata Motors: Shares of Tata Motors surged 3.02 percent and hit a fresh all-time high ahead of its Q3 results announcement on February 2. The stock has been rising in the last five sessions.
Cochin Shipyard: Cochin Shipyard jumped 3.6 percent a day after the company announced strong results in Q3FY24. Net profit increased by 121 percent on-year to Rs 244.4 crore, and revenue from operations jumped 64 percent YoY to Rs 1,056.4 crore during the quarter.
KEC International: KEC International stock zoomed 4.45 percent after the company’s net profit jumped fivefold to Rs 97 crore led by high sales in the December quarter. Revenue rose 14.4 percent to Rs 5006.7 crore.
Dr Reddy’s Laboratories: The stock surged 4.78 percent after the company recorded its highest-ever quarterly revenue in Q3, where a strong contribution from cancer generic Revlimid, fuelled growth.
VIP Industries: The stock fell 4 percent intraday after the company’s net profit declined 83.78 percent year on year to Rs 7.15 crore in Q3. Revenue was up 4 percent to Rs 546.4 crore. The stock pared some losses and closed 1.6 percent in the red.