Sensex-Nifty closed flat after losing all its gains this morning. At the end of trading, Sensex lost 76.71 points or 0.13% per cent to close at 57,200.23. At the same time, Nifty closed at 17,104.70, down 5.50 points or 0.03%.
The biggest movement in these stocks today
Bharti Airtel | CMP: Rs 368 | Bharti Airtel shares jumped 6 per cent on January 28 after Bharti Airtel announced a strategic partnership with US tech giant Google. Today at 9.34 am, the company’s stock was trading on the National Stock Exchange at a price of Rs 711.8. Google will buy stake in Bharti Airtel by investing $700 million.
Dr Reddy’s Labs | CMP: Rs 4,225 | The market did not like the company’s third quarter results and the stock closed in the red today. The company’s profit stood at Rs 707 crore for the quarter ended December 31, 2021. In the third quarter, the company’s profit has seen an increase of 3,468 percent on a year-on-year basis. Whereas on a quarterly basis, there has been a decline of 29 percent in the company’s profit. Let us inform that in the second quarter of this financial year, the company’s profit stood at Rs 292 crore. Whereas in the third quarter of the last financial year, the company’s profit was only Rs 19.8 crore.
Kotak Mahindra Bank | CMP: Rs 1,891.30 | Kotak Bank has closed in green today. Kotak Mahindra Bank has declared its results for the third quarter ended 31 December 2021. The bank’s profit in the third quarter has increased to Rs 2,131.4 crore from Rs 1,853 crore in the third quarter of the previous financial year. The profit of the bank has seen a growth of 15 percent on a yearly basis. At the same time, the interest income of the bank has increased from Rs 4,006.8 crore in the third quarter of the previous financial year to Rs 4,334 crore during this period. During this period, the interest income of the bank has seen an increase of 12 percent on a yearly basis. The third quarter results of the bank have been better than expected.
SpiceJet | CMP: Rs 64.20 | The Supreme Court has stayed for a period of three weeks the order for the closure of SpiceJet on January 28. The Supreme Court has put on the requests made by the parties involved in the litigation. SpiceJet, embroiled in a dispute with Credit Suisse, had approached the Supreme Court seeking relief against the Madras High Court’s order to wind up the airline. The stock has rallied over 5 per cent today on reports that the high court had stayed the execution of the order for a short period, allowing the airline to appeal in a higher court.
RBL Bank : CMP: Rs 147.80 | Today the stock is down 3%. However, CLSA has upgraded the rating on RBL Bank to buy rating and has set a target of Rs 200 for the stock. He says there is nothing to disappoint in the third quarter. The bank’s performance is showing stability and interest earnings trend has improved. They have reduced its profit forecast for FY23/24 by 9-10%.
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