Today i.e. on February 2, there was greenery in the market for the third consecutive day. The Sensex closed at 59,558.33 with a gain of 695.76 points, or 1.18 per cent. On the other hand, Nifty closed at 17780 with a gain of 203.15 points or 1.16 per cent.
The biggest movement in these stocks today
Tech Mahindra | CMP: Rs 1,485.05 | Today this stock closed in the red mark. The market has not liked the results of the company. The company’s profit in the third quarter grew by 2.2 per cent to Rs 1,338.7 crore. Whereas CNBC-TV18 poll estimated it to be at Rs 1,464 crore. At the same time, the company’s profit stood at Rs 1,338.7 crore in the second quarter of the same financial year. In the third quarter, the company’s income grew by 5.2 per cent to Rs 11,451 crore. Whereas CNBC TV-18 poll estimated it to be at Rs 11,466 crore. At the same time, in the second quarter of the same financial year, the company’s income stood at Rs 10,881.3 crore.
HDFC | CMP: Rs 2,617 | Today the stock closed with a gain of 2 per cent. HDFC’s profit in the third quarter of FY 2021-22 stood at Rs 3,260.7 crore, up 11.4 per cent year-on-year. Which is much higher than the estimate of Rs 2,524.9 crore. The decline in tax expenditure has been the biggest contributor to the profit of the country’s largest housing finance company HDFC. In the third quarter, the company’s tax expense has come down from Rs 826.7 crore on a year-on-year basis to Rs 787.5 crore.
Jubilant FoodWorks , CMP: Rs 3,300 | The stock is down 4 per cent today. In this third quarter of FY 2021-22, the company’s profit has increased by 7.5 per cent to Rs 133.2 crore, compared to CNBC-TV18’s estimate of Rs 150 crore. Thus the performance of the company has been weaker than expected. Let us inform that in the third quarter of the last financial year, the company’s profit stood at Rs 123.9 crore. Jubilant Food reported a 13.2 per cent year-on-year growth in revenue for the third quarter at Rs 1,210.8 crore from Rs 1,069.3 crore in the third quarter of last year.
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ITC | CMP: Rs 231.85 | In today’s trading, this stock has closed in green. The effect of non-imposition of any tax on cigarettes and tobacco products in the Union Budget 2022-23 was still visible on this stock. Explain that the contribution of cigarette and tobacco business in the company’s income is more than 40 percent. Contrary to expectations, ITC and Godfrey Phillips shares were up yesterday as no tax was imposed on tobacco products.
Vodafone Idea | CMP: Rs 11.40 | Today the stock rose more than 6 per cent. This rise in the shares of the company has come with high volumes. There has been a growing expectation of the market that by converting the outstanding AGR and spectrum instalment interest into equity, the total shareholding of the company will not be sold as much as was being done earlier. Another Vodafone Idea subsidiary, Tata Teleservices, has told the exchange that it will not exercise the option of converting the interest on the outstanding AGR to equity. This is because the amount of related interest has been less than the company’s own estimates for such conversions. After this news, today there is enthusiasm in the stock of Tata Teleservices.
It may be mentioned that earlier TTML had decided to convert the interest applicable on outstanding AGR into equity and informed the same to DoT. The DoT, in its reply to the company, had said that the NPV of the outstanding interest on the company’s AGR, which can be converted into equity, is only Rs 195.2 crore, which is much less than the company’s own assessment of Rs 850 crore. In view of this, the company has now decided not to convert the outstanding interest on AGR into equity. Vodafone Idea is now expected to get similar relief to the market, due to which Vodafone Idea shares saw a rise today.
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