Amidst ups and downs, today ie on February 1, the Sensex-Nifty managed to close with a gain. Let us inform that today Finance Minister Nirmala Sitharaman has presented the budget for the financial year 2022-23. In today’s trade, good gains were seen in metal, pharma and capital goods stocks. At the end of trading, the Sensex closed at 58,862.57 with a gain of 848.40 points, or 1.46 per cent. On the other hand, Nifty closed at 17,576.85 with a gain of 237.00 points or 1.37 per cent.
Today these were the biggest stir
ITC | CMP: Rs 227.90 | Today this stock has seen a jump of 3 percent. The Finance Minister has not announced any tax on cigarettes and tobacco products in his Budget 2022 presented today. Which had a positive effect on the shares of ITC today. Let us inform that the contribution of cigarettes and tobacco in the income of ITC is more than 40 percent. Before the budget, there is often such speculation in the market that something may or may not happen, but the tax on cigarettes and tobacco will increase, but this time it has not been shown to happen in the budget.
Sun Pharma | CMP: Rs 891.90 . The stock rose 7 per cent today. The company’s profit in the third quarter stood at Rs 2060 crore. Whereas CNBC TV18’s poll had estimated it to be at Rs 1760 crore. At the same time, in its last financial year i.e. FY 2020-21, the company’s profit stood at Rs 1858 crore. In the third quarter, the company’s income stood at Rs 9863 crore. Whereas in the poll of CNBC TV-18, it was estimated to be at Rs 9549 crores. At the same time, in its last financial year i.e. FY 2020-21, the company’s income stood at Rs 8837 crore. CLSA has given a target of Rs 1,100 while maintaining the buy rating of this stock. Similarly, Citi has increased its target.
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Tata Steel | CMP: Rs 1,166.55 | Today the stock is up 7 per cent. The news of focus on infrastructure in the budget has had a positive impact on this stock. The company’s steel production is expected to increase with the focus on infrastructure. The company’s ED and CFO Koushik Chatterjee has said in a conversation with CNBC TV18 that any good thing that happens in the infrastructure sector will be good for the metal and steel sector.
Shree Cement | CMP: Rs 25,595 | Today this stock has also run up more than 5 per cent. FM has announced a huge hike in capex for 2022-23. The Finance Minister has announced to spend Rs 7.5 lakh crore on infra in the next financial year, which is Rs 5.5 lakh crore or 35 percent more than the previous budget announcement. Due to this news, cement shares remained in a shambles today.
BPCL | CMP: Rs 379.35 | Today the stock is up 4 per cent. It has registered a consolidated net profit of Rs 2,805 crore for the quarter ended December 31, 2021. This is an increase of 47% from the year-ago period. Revenue from operations grew by 35% to Rs 1.17 trillion during the third quarter, as against Rs 87,292 crore in the same quarter last year.
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