Before the announcement of RBI MPC meeting, today the market saw a rise for the second day. At the end of trading, the Sensex closed at 58,465.97 with a gain of 657.39 points, or 1.14 per cent. On the other hand, Nifty closed at 17463.80 with a gain of 197.05 points or 1.14 per cent.
Let’s take a look at those stocks, which saw sharp fluctuations in today’s business and what was the reason behind them. Also, we will see how their position was at the end of the business.
Vedanta | CMP: Rs 376.90 | Vedanta has decided not to change the corporate structure of the company, which is reflected in the stock today. Today the stock closed with a gain of 2 per cent. In the information given to the stock exchange, it was told that the company has canceled the decision to change its corporate structure. Vedanta has decided to distribute 30% of its profit after tax (excluding HZL’s profit) as dividend. Global research and broking firm JP Morgan has upgraded the rating of Vedanta’s shares from neutral to overweight on this stock. With this, the target price of Vedanta’s shares has been increased from Rs 375 to Rs 465.
Bharti Airtel | CMP: Rs 719.90 | Today the stock closed in the green. Bharti Airtel’s consolidated net profit fell 27% to Rs 829.6 crore at the end of December 2021 quarter. This is much less than analysts’ estimates. Analysts were expecting a net profit of Rs 1581.3 crore. The Average Revenue Per User (ARPU) of the company grew by 6.5% quarter-on-quarter to Rs 163 per user. The brokerage firm CLSA, while giving a buy call on the stock, has fixed the target of this stock at Rs 915 per share. While Jefferies has kept the buy rating intact, the target of this stock is Rs 910.
Bosch | CMP: Rs 16,249 | Today the stock closed in the green. The company’s profit in the third quarter grew by 26.4 per cent to Rs 234.8 crore as against Rs 185.6 crore in its previous financial year. At the same time, the company’s income has increased from Rs 3,030 crore in the third quarter of the last financial year to Rs 3,109 crore.
DB Realty | CMP: Rs 115.90 | Today the stock rose 5 per cent. The board of DB Realty met today i.e. on 9 February. The company said that in this meeting, approval has been given to raise funds by issuing 5 crore convertible warrants. After this news, DB Realty shares hit an upper circuit of 5%. DB Realty said in the information given to the stock exchange that the company will issue warrants to non-promoter investors on a preferential basis. These investors also include Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala. These 1,00,00,000 warrants will be issued through Jhunjhunwala’s company RARE Investments.
Glenmark Pharma | CMP: Rs 501.45 | Today the stock closed with a gain of 3 per cent. The company has launched a nasal spray, named Nitric Oxide FabiSpray, for the treatment of corona patients. Glenmark has developed it in collaboration with a Canadian company SaNOtize. Nitric Oxide is launched in India under the FabiSpray brand. After this news, there was a rise in this stock today.
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