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POST-MARKET REPORT
The Indian equity benchmarks managed to hold on to the early gains and ended the session near the day’s highs.
At close, the Sensex was up 454.67 points or 0.63 percent at 72,186.09, and the Nifty was up 167.50 points or 0.77 percent at 21,939.20.
Top Nifty gainers included BPCL, HDFC Life, TCS, Maruti Suzuki, and HCLTech, while losers were Power Grid, IndusInd Bank, ITC, Bajaj Finserv, and Britannia Industries.
On the sectoral front, auto, energy, oil and gas information technology, infra, metals, and pharma rose 1-3 percent, while banks and FMCG fell marginally by 0.1 percent each.
BSE midcap and smallcap indices outperformed the benchmarks and ended with gains of around a percent each.
STOCKS TODAY
Tata Group: Tata Consultancy Services Ltd surged over 9 percent so far in 2024 while Tata Motors Ltd advanced over 20 percent. Tata Power jumped 18 percent while Indian Hotels gained 16 percent shares of Tata Group companies’ combined market capitalization crossed Rs 30 lakh crore on February 6, making it the first Indian conglomerate to hit such a milestone.
Paytm: The stock gained 3.26 percent, recovering from a 42 percent fall in the last three trading sessions after the RBI imposed restrictions on its lending business. The stock has lost 40 percent in the past five sessions.
Zydus Lifesciences: Shares of Zydus Lifesciences have zoomed 5.12 percent after the company said its board would consider a share buyback proposal on February 9. If approved, this will be the second time that the pharma firm will buy back shares. The first one was in June 2022.
TCS: The stock gained 3.93 percent, which pushed the firm’s market capitalization to above Rs 15 lakh crore market. TCS had rallied 12 percent in the last month. In Q3, its ’ operating margins expanded 75 basis points on-quarter and 48 bps on-year. TCS also announced a Total Contract Value (TCV) of $8.1 billion.
Droneacharya Aerial Innovations: The stock gained 1.9 percent after the company signed a memorandum of understanding (MoU) with Vimaan Aerospace Pvt Ltd to collaborate on drones, training, and services.
Suven Pharmaceuticals: The stock fell 5.3 percent after the company’s Q3 results disappointed investors on all three key parameters of net profit, revenue, and profitability. The company’s net profit tanked 56.6 percent on-year to Rs 46.5 crore.
Yes Bank: Shares of Yes Bank surged 11.62 percent after HDFC Bank announced it got the RBI’s approval to pick up stakes in the bank and five more lenders.