Today, the market saw a decline for the third consecutive day. Selling was seen in auto, FMCG, IT, bank, healthcare, realty and capital goods stocks in today’s trade. At the end of trading, the Sensex closed at 57,621.19, down 1,023.63 points, or 1.75 per cent. On the other hand, Nifty closed at 17,213.60, down 302.70 points or 1.73 per cent.
The biggest movement in these stocks today
Interglobe Aviation | CMP: Rs 2,161 | The stock closed with a gain of 9 per cent in today’s trading. The company’s shares have risen after the impressive December quarter results. InterGlobe Aviation has made a net profit of Rs 129.8 crore in the third quarter. The company has turned profitable after incurring 7 consecutive quarterly losses. IndiGo posted a profit of Rs 129.8 crore in the December quarter. IndiGo had a loss of Rs 621.80 crore in the December quarter of the year 2020. The company’s revenue grew by 89 per cent to Rs 9294.77 crore in the quarter ended December, 2021. It was Rs 4,909.98 crore in the same period a year ago. Indiga’s loss was estimated at Rs 327 crore in a Moneycontrol poll. The company’s revenue during this period was expected to be Rs 8503 crore.
Tata Steel | CMP: Rs 1,184.95 | Today the stock closed in the green. The company’s net profit grew 159% to Rs 9573 crore in the third quarter. The company’s net profit in the same quarter a year ago was Rs 3697 crore. Whereas the company’s net profit after paying taxes a quarter ago was Rs 11,918 crore. The country’s largest steel company’s consolidated revenue grew 45% to Rs 60,783 crore in the third quarter. The company’s consolidated revenue stood at Rs 41,935 crore in the same quarter last year. Giving buy rating on this stock, CLSA has given its target of Rs 1820. Similarly, JP Morgan has given overweight to this stock and has given a target of Rs 1850 for it.
State Bank of India | CMP: Rs 533.90 | The stock closed in the green in today’s trading. It reported a net profit of Rs 8,431.9 crore, up 62 per cent year-on-year for the quarter ended December, as against a profit of Rs 5,196.22 crore in the same quarter last year. However, the bank’s net profit is higher than analysts’ estimate of Rs 7,957.4 crore. According to results released by SBI on Saturday, February 5, its interest income grew by 6.5 per cent to Rs 30,687 crore in the third quarter of the current fiscal, lower than the market’s estimate of Rs 30,687 crore. However, net interest margin rose 6 basis points year-on-year to 3.4 per cent, which was in line with expectations. Brokerage Credit Suisse has retained its overweight rating on the stock and has a target of Rs 640 for the stock.
One97 Communications | CMP: Rs 955 | After falling 5 per cent in today’s opening trade, the stock closed in the green at the end of trading. Paytm’s consolidated revenue grew 88% to Rs 1,456 crore in the December quarter as against Rs 772 crore in the same quarter last year. It has registered a consolidated loss of Rs 778.5 crore in the December quarter, which is higher than the loss of Rs 535.5 crore in the corresponding quarter last year. Brokerage firm Macquarie Research has predicted further decline in Paytm shares. The brokerage has maintained an ‘underperform’ rating for Paytm in a note and has given a target price of Rs 700 for the stock, which is about 22% lower than its current price.
Union Bank of India | CMP: Rs 47.60 | In today’s trading, this stock closed in the red mark. In the third quarter of the financial year 2021-22, the bank’s profit grew by 49.3 per cent to Rs 1085 crore as against Rs 726.8 crore in the corresponding quarter of the previous financial year. At the same time, the interest income has increased to Rs 7,174.4 crore from Rs 6,589.5 crore in the previous year. The Gross NPAs of the Bank have declined from 12.64% to 11.62% on a quarterly basis, while the Net NPAs have declined from 4.61% to 4.09%.
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