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POST-MARKET REPORT
Equity benchmarks the Sensex and the Nifty ended February 7 flat. The indices lost early gains as investors shifted focus towards the Reserve Bank of India’s monetary policy decision to be announced on February 8.
At close, the Sensex went 34.09 points down at 72,152, while the Nifty ended 1.1 points higher at 21,930.50.
Broader markets outperformed the benchmarks. Nifty Midcap 100 gained 0.75 percent and Nifty Smallcap 100 0.71 percent.
The top Nifty gainers were SBI, up 4.19 percent, Grasim 2.38 percent, HDFC Life 2.24 percent, JSW Steel 2.17 percent, and Axis Bank ended up 2.09 percent higher. while the losers were Infosys, TCS, HDFC Bank, and Adani Ports.
Nifty PSU Bank and realty were among the top sectoral movers, gaining 2.86 percent and 1.84 percent. IT and auto sectors saw profit booking.
STOCKS TODAY
V-Mart Retail: The company soared over 15 percent after the fashion company reported a 41 percent on-year rise in profit for the December quarter of the financial year 2023-24. The company’s revenue rose 14 percent YoY to Rs 889 crore, while earnings before interest, tax, depreciation, and amortization (EBITDA) were by 15 percent from last year.
Trent: Shares of Trent surged 19 percent after the retail player reported a consolidated net profit of Rs 370.6 crore for the December quarter of FY24, rising 39.4 percent from Rs 154.81 crore in the same quarter of the previous financial year. Revenue came in at Rs 3,466.6 crore, rising 50.5 percent from Rs 2,303.4 crore in the year-ago quarter, the company said in a regulatory filing.
IEX: The IEX shares fell nearly 4.8 percent after the Central Electricity Regulatory Commission (CERC) said that Grid India will develop the necessary software over the next two months to run a shadow pilot for market coupling of the three power exchanges – Indian Electricity Exchange (IEX), Power Exchange of India (PXIL) and Hindustan Power Exchange (HPX). After the pilot, the exchanges will share data and information with the CERC to decide on the benefits of coupling.
One 97 Communications Ltd: Shares of Paytm zoomed 10 percent and were locked in the upper circuit in a much-needed relief to investors after falling around 42 percent in three straight sessions in the aftermath of RBI’s curbs on its payments bank unit
Delta Corp Ltd: The counter surged 11 percent on reports that the government could soften its stance on the retro goods and services tax (GST) demand notices issued to online gaming companies.
Navin Fluorine: Shares of the company declined 5 percent after reporting a 26.8 percent year-on-year (YoY) decline in net profit at Rs 78 crore for the December quarter of the current financial year