The market has closed in the red mark on February 4 amidst volatile trading. Selling was seen in PSU Bank, Auto and Realty stocks in today’s trade. However, the market got some support from metal stocks at lower levels.
At the end of trading, the Sensex closed at 58,644.82 with a fall of 143.20 points, or 0.24 per cent, today. Nifty closed at 17,516.30, down 43.90 points or 0.25 per cent.
The biggest movement in these stocks today
Godrej Properties | CMP: Rs 1,506.55 | Today this stock has seen a decline of 10 percent. Godrej Properties had announced that it would invest Rs 400 crore to acquire 10 per cent stake in DB Realty. Apart from this, a joint venture will be formed for the slum redevelopment project in Mumbai. The market may not have liked this plan of the company, due to which the stock is seeing a huge decline for 2 days. Godrej Properties had said in a conversation with the analyst that with this partnership, the company is likely to get big opportunities in the redevelopment business in Mumbai. Under this joint venture agreement, DB Realty will look after the business development and prepare the project side for approval. At the same time, Godrej will do the work of development, sales and marketing of Properties.
Bank Of India | CMP: Rs 56.50 | Despite strong third quarter results, the stock lost over 3 per cent today. The profit of the bank has increased by 90 per cent to Rs 1027 crore. Due to improvement in the bad loan position, there has been a strong increase in the profits of the bank. Let us inform that in the third quarter of the last financial year, the profit of this public sector bank stood at Rs 540.72 crore.
However, the total income of the bank during the third quarter declined to Rs 11,211.14 crore from Rs 12,310.92 crore in the corresponding quarter last year. The interest income of the bank has also seen a decline in the third quarter on a yearly basis and it has come down to Rs 3408 crore from Rs 3,739 crore in the previous financial year.
GMM Pfaudler | CMP: Rs 4,871.50 | Even after the strong results of the December quarter, today this stock also closed down 3 per cent. The company’s profit in the December quarter rose to Rs 31.8 crore from Rs 23.2 crore on a year-on-year basis, while profit during the same period has increased to Rs 642.3 crore from Rs 201.8 crore in the third quarter of last fiscal.
Cigarette business filled with enthusiasm in ITC in the third quarter, sales crossed the pre-covid level
Venkys | CMP: Rs 2,401.00 | The stock also lost 8.5 per cent today. The company’s profit declined 79.7 per cent to Rs 21.6 crore in the third quarter of FY 2022 as compared to Rs 106.5 crore in the same period last year. The company’s revenue during this period has grown by 17.9 per cent to Rs 1098.5 crore. Which stood at Rs 931.7 crore in the same period last year.
Carborundum Universal | CMP: Rs 909.50 | Today this stock has managed to close with a gain of 4 percent. The company has entered into an agreement to acquire a German company, Rhodius Abrasives. The acquisition will be done through a German step down subsidiary of the company. The effect of this news was seen on this stock today.
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