NIFTY50: 21,771 ▼ 82 (-0.3%)
SENSEX: 71,731 ▼ 354 (-0.4%)
- Benchmark indices erased morning gains in the last hour
- In all, 33 of the NIFTY50 stocks closed in the red
- India's Services Purchasing Managers Index (PMI) reached 61.8 in January 2024
Among the NIFTY sectoral indices, Pharma (+1.7%) and Oil & Gas (+1.4%) were the top gainers, FMCG (-0.7%) and Financial Services (-0.5%) sectoral losers today.
What's Up
| Top gainers | Today's change |
| Tata Motors | 929 ▲ 51 (+5.8%) |
| Coal India | 441 ▲ 21 (+5.1%) |
| BPCL | 575 ▲ 17 (+3.1%) |
What's Down
| Top losers | Today's change |
| UPL | 475 ▼ 58 (-10.9%) |
| Bajaj Finance | 6,626 ▼ 221 (-3.2%) |
| Bharti Airtel | 1,113 ▼ 37 (-3.2%) |
Market Sentiment
| USD-INR | 83.03 ▲ 0.03 (+0.05%) |
| NIFTY MIDCAP 100 | 48,410 ▼ 66 (-0.1%) |
| NIFTY SMALLCAP 100 | 16,319 ▲ 41 (+0.2%) |
| India VIX | 15.6 ▲ 0.9 (+6.2%) |
Stock Buzz
⭐ Tata Motors hits record high after profit jumps
Shares of Tata Motors hit a record high of ₹941.9 on Monday and closed 5.8% higher. This was after it reported a 137% year-on-year (YoY) surge in its consolidated net profit to ₹7,025 crore in Q3 FY24 compared to ₹2,958 crore in the previous year. The growth was driven by strong sales in its British luxury car unit, Jaguar Land Rover (JLR).
⭐ UPL tumbles on weak Q3 results
Shares of the agrochemical maker declined 10% today, after it posted a loss of ₹1,217 crore in Q3FY24, compared to a net profit of ₹1,087 crore in Q3FY23. The destocking of high-cost inventory and higher rebates to support channel partners adversely affected the company’s profitability. The contribution margins contracted to 27.2% in the December quarter from 42.6% in the same period last year.
⭐ Varun Beverages’ Q4 profit rises
In the December quarter, Varun Beverages reported a 76% YoY rise in its net profit to ₹143 crore. Its revenue for the October-December quarter stood at ₹2,731 crore, rising 21% from ₹2,257 crore in the year-ago period. This was led by strong revenue growth, rise in net realisation per case and improved operational efficiencies. As a result, shares of the PepsiCo India franchise rose 1.6% today.
⭐ Titagarh net profit surges 130%
Titagarh Rail Systems reported a 130% YoY surge in its net profit to ₹74.8 crore for the third quarter of FY24. Its revenue rose 24.6% YoY to ₹954.7 crore in Q3FY24. The company recently announced that it had signed an agreement with Amber group with the investment of ₹120 crore each, to foray into railway component and subsystem business in India and overseas. However, shares of the company gave up the early gains and closed 1.9% lower.
IPO Corner
⭐ On Day 1, the IPO of hotel chain operator Apeejay Surrendra Park Hotels received an overall subscription of 2.5 times, with the retail segment being subscribed 5.7 times. To know more and apply for the IPO, click here.
Learn with Upstox
What is net realisation?
Net realisation refers to the actual amount received by a company from the sale of its products or services after deducting all expenses incurred in the production, distribution, and sale process. It represents the net revenue generated by the company, accounting for costs such as production, marketing, and distribution expenses.
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