Indices at previous closing
Nifty50: 17,516 ▼43 (-0.2%)
Sensex: 58,644 ▼143 (-0.2%)
Nifty Bank: 38,789 ▼220 (-0.5%)
For more updates on F&O, click here.
It's two in a row for SBI
For the second straight quarter, India's largest public sector bank reported its highest quarterly net profit at ₹8,432 crore, up 62.2% YoY. The bank's net interest income rose 6.4% to ₹30,687 crore.
The rise in retail loans (+15%) coupled with a fall in provisioning for bad loans (-33%) boosted the bank’s profit. The bank's gross non-performing assets declined by 94bps to 4.5%. Meanwhile, shares of SBI were down almost 2% on Friday, but the results were announced over the weekend.
Paytm widens losses
The fintech major's net loss widened to ₹778 crore in the December quarter, from a net loss of ₹535 crore in the year-ago period. Meanwhile, the company's revenue jumped 89% YoY to ₹1,456 crore.
The sharp rise in the topline was driven by a growth in the merchant payments processed, loan disbursements and recovery of commerce business. Paytm's average monthly transacting users, which is the number of unique users with at least one successful payment transaction in a month, grew by 37% YoY to 6.4 crore. Meanwhile, shares of Paytm were up 0.8% on Friday, but the result was announced after market hours.
Vedant Fashions IPO attracts retail investors
On day 1, the public issue of Vedant Fashions, which is known for its Manyavar brand, was subscribed around 14%. The retail portion was subscribed 22%.
The public issue of ₹3,149 crore is completely an offer for sale. Click here to apply for this IPO on Upstox.
Sectoral indices (February 4)
| Top gainers | Top losers |
| Nifty Metal ▲ 1.1% | Nifty Realty ▼ 2.7% |
| Nifty FMCG ▲ 0.1% | Nifty Bank ▼ 1.9% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.2% |
| Nikkei 225 (Japan) | ▼ 0.8% |
| Hang Seng (Hong Kong) | ▼ 0.6% |
| SSE Composite (China) | ▲ 1.8% |
| Dow Jones (US) (February 4) | ▼ 0.0% |
| NYSE (US) (February 4) | ▲ 0.1% |
| Nasdaq (US) (February 4) | ▲ 1.5% |
| S&P 500 (US) (February 4) | ▲ 0.5% |
Fact of the day
Facebook parent Meta lost more than $232 billion in value on Thursday (Feb 3), making it the biggest one-day drop in value in the history of the U.S. stock market.
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.