Get App
POST-MARKET REPORT
The Indian market opened marginally higher but failed to build on the gains. The Sensex and the Nifty closed near the day’s low ahead of the CPI inflation data announcement.
The Sensex, dropped to the day’s low of 70,922.57, narrowed losses to close 523 points, or 0.73 percent, lower at 71,073. The Nifty ended the day 166.50 points, or 0.76 percent, down at 21,616.
Top Nifty losers included Coal India, Hero MotoCorp, BPCL, ONGC, and NTPC, while gainers were Dr. Reddy’s Laboratories, Apollo Hospitals, Wipro, Divis Labs, and HCL Technologies.
Among the sectors, FMCG, PSU bank, capital goods, metal, oil & gas, power, and realty were down 1-4 percent each, while healthcare and IT indices ended in the green.
The BSE midcap index fell 2.6 percent and the smallcap index shed 3 percent.
STOCKS TODAY
Bandhan Bank: Shares of Bandhan Bank fell 7.68 percent after loans worth Rs 23,300 crore it lent out under credit guarantee schemes came under review by the National Credit Guarantee Trustee Company (NCGTC) on doubts of evergreening.
Bharat Forge: The stock fell 13.92 percent even after the company’s net profit surged 223 percent to Rs 254.45 crore in Q3FY24. The company expects moderate growth in domestic and export markets in the fourth quarter and FY25.
Spicejet: Shares of SpiceJet fell 4.46 percent after CNBCTV18 reported that the low-cost airline would cut down the workforce by 10-15 percent to reduce fixed costs. The job cuts will help the airline save around Rs 100 crore.
Divi’s Laboratories: Shares of Divi’s Laboratories gained 2.28 percent after the company’s net profit rose 17 percent YoY to Rs 358 crore in Q3FY24. Revenue also grew nearly 9 percent to Rs 1,855 crore.
Aurobindo Pharma: The Aurobindo Pharma stock rose 1.78 percent after the company posted a strong performance in the third quarter on all three key parameters such as profit, revenue, and profitability. The pharma company’s net profit soared nearly 91 percent on year to Rs 936.2 crore.
ONGC: The ONGC stock fell 3.66 percent after the company reported weak Q3 earnings. Its consolidated net profit declined by 8 percent to Rs 10,748 crore in the December quarter, with revenue falling 2.2 percent to Rs 1,65,569 crore over the previous year.
EaseMyTrip: The stock fell 4.4 percent on February 12. The company has announced it will set up a 5-star hotel in Ayodhya near the recently inaugurated Ram temple.