Stocks to focus on: The results of the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC), foreign institutional investors (FII) and signals from global markets will determine the direction of domestic markets on Friday (February 7). The Reserve Bank of India (RBI) is likely to cut the benchmark repo rate by 25 basis points to 6.25 per cent today. In the previous session, the Sensex had closed at 78,058.16, down 213.12 points, or 0.27%. The Nifty 50 also fell 92.95 points, or 0.39%, to close at 23,603.35.
Q3 results today
Life Insurance Corporation of India (LIC), Mahindra & Mahindra, Mazagon Dock Shipbuilders, Oil India, NHPC, Alchem Laboratories, Fortis Healthcare, Ola Electric Mobility, Gujarat State Petronet, Akzo Nobel India, Balrampur Sugar Mills, Cholamandalam Financial Holdings, Delivery, Gujarat State Petronet and Exo Nobel India will announce their December Quarterly results today.
Hero MotoCorp
The two-wheeler maker’s profit rose 1.3 per cent year-on-year to Rs 1,107.5 crore. Revenue also grew by 4.8 per cent to Rs 10,259.8 crore during the period. On a quarterly basis, revenue declined by 2.1 per cent, while net profit rose 4.1 per cent.
SBI
State Bank of India (SBI), the country’s largest bank, rose 84.3 per cent to Rs 16,891.44 crore in the third quarter. SBI had made a profit of Rs 9,160 crore in the same quarter (Q3FY24) a year ago. SBI’s quarter-on-quarter (QoQ) profit fell 7.8 per cent. In the second quarter of the current financial year (Q2FY25), the bank had earned a net profit of Rs 18,330 crore. SBI shares fell after the third quarter results. At 2.15 pm, SBI shares were trading at Rs 752.6, down 1.76 per cent. Meanwhile, the benchmark index Sensex was trading down 0.48 per cent.
ITC Q3 Result
Cigarette-based soapmaker ITC’s consolidated net profit declined by 7.27 per cent year-on-year to Rs 5,013.16 crore in the third quarter of the current financial year. ITC said in the stock market that the company had earned a net profit of Rs 5,406.52 crore in the same quarter last financial year.
Varangi
The company has announced a strategic alliance with Tata AIG to offer general insurance products.
Airtel Q3
Bharti Airtel’s profit increased more than fivefold to Rs 16,134.6 crore in the third quarter of the current financial year. In the same quarter last year, the company had posted a net profit of Rs 2,876.4 crore. The country’s second largest telecom company said in the stock market that the company’s operating income in the third quarter of the current financial year was Rs 45,129.3 crore, compared to Rs 37,899.5 crore in the same quarter last year.
Max India
The company has approved an investment of up to Rs 219 crore in wholly owned subsidiaries.
Biocon
Equilium Inc. And the company has announced positive data from a phase 2 study that evaluates itolizumab in patients with moderate to severe ulcerative colitis.
BSE
Indian stock exchange BSE said its profit doubled to Rs 220 crore in the third quarter of FY2025 from Rs 108.2 crore in the same quarter last year. BSE recorded the highest quarterly revenue of Rs 835.4 crore in the quarter FY25, up 94 per cent from Rs 431.4 crore in the same period last year.
Indus Towers
The company has agreed to acquire around 16,100 telecom towers from Bharti Airtel and Bharti Hexacom through a bearish sale, with an estimated total cost of acquisition of Rs 3,310 crore, subject to closing adjustments.
