Benchmark equity indices settled higher after a volatile session on Friday driven by buying in ICICI Bank, State Bank of India, and Reliance Industries. Sharp selling was witnessed in the broader domestic market amid the rise in crude oil prices, muted global cues, and the Lunar New Year holiday in the Asian markets.
The BSE Sensex climbed 167.06 points or 0.23 per cent to settle at 71,595.49. The NSE Nifty rose by 64.55 points or 0.30 per cent to 21,782.50. Both midcap and smallcap indices fell 1 per cent each. Sector-wise it was a mixed bag with buying seen in Banking, Financial, and Pharma stocks.
"After a volatile session, the market ended on a positive note, aided by a rebound in banking stocks after yesterday’s sell-off. Mid- and small-cap indices bled the most as the sentiment on the broader indices remains vigilant due to their rich valuation. Caution prevails in the market ahead of the release of US, UK, and Indian inflation data next week, while the US 10 yr yield is inching higher," said Vinod Nair, Head of Research, Geojit Financial Services.
Here are the key stocks to watch on 12 February:
One97 Communications, the parent of Paytm, on Friday, announced the formation of an advisory committee chaired by former Securities and Exchange Board of India chairman M Damodaran. The three-member committee includes former president of the Institute of Chartered Accountants of India (ICAI) MM Chitale and former chairman and MD of Andhra Bank R Ramachandran. The committee will work with the Board of Directors to further strengthen compliance and regulatory matters.
The two-wheeler company reported a 51 per cent year-on-year (YoY) increase in net profit to Rs 1,073 crore for the quarter ended December FY24 on the back of strong growth in operating numbers. Revenue from operations for the quarter increased 21 per cent YoY to Rs 9,724 crore. Hero MotoCorp announced an interim dividend of Rs 75 per share and a special dividend of Rs 25 per share for FY24.
Tata Power Company
The company posted 2 per cent YoY growth in net profit at Rs 1,076 crore for the third quarter of FY24 driven by better realization in the core business segments consisting of generation, transmission & distribution, and renewables. Revenue from operations rose by 3 percent YoY to Rs 14,841 crore for the quarter.
Indian Railway Finance Corporation
The company reported a marginal decline in December quarter net profit to Rs 1,604 crore, down 1.78 per cent from Rs 1,633 crore in the year-ago period. Revenue from operations surged 8.43 per cent to Rs 6,742 crore compared to Rs 6,218 crore in the corresponding quarter last fiscal.
The private sector lender has reported a 152 per cent YoY growth in net profit at Rs 733 crore for the December quarter on the back of a sharp decline in provisions and contingencies. Net interest income increased by 21 per cent YoY to Rs 2,525 crore. Asset quality improved with the gross NPA falling 30 bps sequentially to 7.02 per cent and the net NPA falling 11 bps QoQ to 2.21 per cent for the quarter.