HDFC Bank gets RBI nod to buy stake in IndusInd Bank and Yes Bank, Zydus Life hits 52-week high & more

Blog | Newsletters

NIFTY50: 21,929 ▲ 157 (+0.7%)
 SENSEX: 72,186 ▲ 454 (+0.6%)

  • Benchmark indices closed higher, powered by IT and oil & gas stocks 
  • In all, 36 of the NIFTY50 stocks closed in the green
  • Euro fell to $1.07, the lowest since 13 November, amid fading hopes for early Fed rate cuts

Among the NIFTY sectoral indices, IT (+2.9%) and Oil & Gas (+2.6%) were the top gainers, PSU Bank (-0.3%) and Bank (-0.2%) sectoral losers today.

What's Up

Top gainers Today's change
BPCL 610 ▲ 35 (+6.2%)
HDFC Life 592 ▲ 28 (+5.1%)
HCL Tech
1,623 ▲ 68 (+4.4%)

What's Down

Top losers Today's change
Power Grid
275 ▼ 7.7 (-2.7%)
Britannia 5,015 ▼ 109 (-2.1%)
IndusInd Bank 1,513 ▼ 24 (-1.6%)

Market Sentiment

USD-INR  15.7 ▲ 0.1 (+1.0%)
NIFTY MIDCAP 100 48,984 ▲ 574 (+1.1%)
NIFTY SMALLCAP 100 16,449 ▲ 129 (+0.7%)
India VIX 15.7 ▲ 0.1 (+1.0%)

Stock Buzz

⭐ HDFC Bank gets RBI nod to buy stake in IndusInd Bank and Yes Bank

IndusInd Bank and Yes Bank said on Monday that HDFC Bank has received approval from the Reserve Bank of India (RBI) to acquire up to a 9.5% stake each in the two banks. After the announcement, shares of Yes Bank gained 11%, while shares of HDFC Bank and IndusInd Bank fell 0.9% and 1.6%, respectively.

⭐ CAMS shares gains as Q3 net profit rises

Shares of the mutual funds transfer agency rose 1.8% today after its Q3 net profit rose 21% YoY to ₹89 crore, while revenue from operations was at ₹290 crore, up 19% YoY. Meanwhile, its earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at ₹129 crore, compared to ₹109 crore in the same quarter of last year.

⭐ Zydus Life hits 52-week high

Shares of Zydus Lifesciences hit a 52-week high of ₹809.20 today. This came after the company announced that its board will consider a proposal for a share buyback on February 9. If approved, this would be the pharmaceutical firm's second share buyback, following a similar initiative in June 2022.

⭐ Triveni Turbine hits upper circuit after robust Q3 results

Shares of Triveni Turbine, which manufactures and supplies power generating equipment and solutions, hit 20% upper circuit today. This was after the company reported a double-digit rise of 29.7% YoY in its net profit to ₹68.2 crore for the quarter ending 31 December 2023. Meanwhile, its revenue grew 32.5% to ₹431.7 crore.

IPO Corner

⭐ On Day 2, the IPO of hotel chain operator Apeejay Surrendra Park Hotels received an overall subscription of 5.8 times, with the retail segment being subscribed 13.1 times. To know more and apply for the IPO, click here.


Learn with Upstox

What is the upper circuit?

The upper circuit refers to a predetermined maximum limit set by stock exchanges beyond which the price of a stock cannot rise within a trading session. When a stock hits the upper circuit, trading in that particular stock is temporarily halted to prevent excessive volatility and maintain market stability.

Join the Upstox masterclass and trade like a pro!

ABC Trading Strategy

Date: 7 to 8 Feb 2024

Time: 2:00 PM to 5:00 PM

Venue: Online

Cost: ₹1,199

Seats are filling fast!

Register Here

Download IconDownload the Upstox App Today