The NSE Nifty gained 157.70 points or 0.72 per cent to close at 21,929.40. Except for Banks and FMCG, all sectors ended with gains. Oil & Gas and IT were top gainers up 3 per cent
Benchmark equity indices jumped nearly 1 per cent on Tuesday after buying in IT stocks TCS and Infosys, foreign fund inflows, and positive global trends. The BSE Sensex climbed 454.67 points or 0.63 per cent to settle at 72,186.09. The NSE Nifty gained 157.70 points or 0.72 per cent to close at 21,929.40. Except for Banks and FMCG, all sectors ended with gains. Oil & Gas and IT were top gainers up 3 per cent.
“Majority of the European and Asian markets were trading positive on back healthy earnings updates and signs of fresh stimulus in China. This coupled with strong services PMI data supported domestic equities. Overall, we expect the market to continue its positive momentum with sectorial rotations. The key event this week is RBI’s monetary policy which provides direction to the market. Though RBI is expected to maintain the status quo, commentary would be eagerly eyed with regards to hint on the rate cut,” said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd.
Here are the key stocks to watch on 7 February:
Britannia Industries
The FMCG major on Tuesday reported a 40.4 per cent YoY decline in net profit to Rs 555.7 crore for the October-December quarter of FY24, compared to Rs 932.4 crore in the year-ago period. The company’s revenue from operations increased 1.42 per cent to Rs 4,256.3 crore compared to Rs 4,196.8 crore in the corresponding period of the preceding financial year.
FSN E-Commerce Ventures (Nykaa)
The parent company of Nykaa reported a net profit of Rs 17.45 crore in the third quarter compared to a profit of Rs 8.38 crore in the year-ago period. The total income of the company stood at Rs 1,796.4 crore for the reported quarter against Rs 1,468.5 crore a year ago.
Lupin
The pharmaceutical major received USFDA approval for Bromfenac Ophthalmic Solution. Bromfenac Ophthalmic Solution is used for the treatment of postoperative inflammation and the prevention of ocular pain in patients undergoing cataract surgery.
Berger Paints
The company reported a 49.2 per cent YoY surge in consolidated net profit to Rs 300.2 crore for the December quarter, compared to Rs 201.2 crore in the corresponding quarter last year. The company’s revenue from operations increased 7 per cent to Rs 2,881.8 crore against Rs 2,693.6 crore in the year-ago period.
JK Tyre
The tyre manufacturer reported a 236.89 per cent YoY increase in net profit to Rs 220.9 crore for the third quarter, compared to Rs 65.6 crore in the year-ago period. The company’s revenue from operations surged 2.1 per cent to Rs 3,687.7 crore against Rs 3,612.9 crore in the corresponding quarter last year.