[ad_1]
Actions to take into account today: The Sensex and Nifty indices are expected to open flat to positive on February 1, and indications from the GIFT Nifty suggest a strong start for the broader index despite a small pullback of 35 points.
BUDGET 2024: Watch all the live action on Budget 2024-25 here
On January 31, both the Sensex and the Nifty saw a rise of one per cent, driven by widespread buying activities in the run-up to the budget and in anticipation of the outcome of the US Federal Reserve meeting.
Final figures showed the Sensex gained 612.21 points, or 0.86 per cent, to 71,752.11, while the Nifty rose 203.60 points, or 0.95 per cent, to close at 21,725. .70.
Here are a lot of stocks that will be in the spotlight on February 1st for several reasons;
- One 97 Communications (Paytm): The Reserve Bank of India has implemented additional measures against Paytm Payments Bank, stating that from February 29, 2024, customers will be prohibited from making further deposits, carrying out credit transactions or recharging multiple accounts. like prepaid instruments, wallets, FASTags, NCMC cards, etc. Exceptions include interest, refunds or refunds that may be credited at any time.
The termination of One97 Communications and Paytm Payments Services nodal accounts is scheduled to occur immediately, with a deadline of no later than February 29, 2024. The Reserve Bank of India issued a directive on March 11, 2024. 2022, directing Paytm Payments Bank to cease. incorporate new clients immediately.
- Punjab & Sind Bank: The public sector bank recorded a 69.4 per cent year-on-year decline in net profit, which amounted to Rs 114.3 crore for the October-December period of FY24. Provisions and contingencies amounted to to Rs 96.3 crore during the quarter, in contrast to provision write-off of Rs 207.5 crore. Net interest income saw a year-on-year decline of 8.2 per cent reaching Rs 739.3 crore, while deposits showed a growth of 8.09 per cent and advances increased by 7.5 per cent during the same period. There was an improvement in asset quality: gross NPLs decreased 53 basis points quarter-on-quarter to 5.7 percent, and net NPLs decreased 8 basis points sequentially to 1.80 percent during the quarter.
- Glenmark Pharmaceuticals: Glenmark has collaborated with Pfizer to introduce Abrocitinib in the Indian market. Abrocitinib is prescribed for the treatment of moderate to severe atopic dermatitis.
- Jindal Steel & Power: The company reported a consolidated profit of Rs 1,928 crore for the quarter ended December FY24, which is a substantial increase of 272 per cent compared to the profit of Rs 518 crore in the corresponding period of the previous year. The lower base in Q3FY23 was attributed to one-off losses and higher tax costs. Consolidated revenue from operations saw a 6 percent year-on-year decline at Rs 11,701.3 million.
- Mankind Pharma: In the third quarter, revenue increased by 25% to reach Rs 2,606.9 million, and Ebitda saw an increase of 39% to reach Rs 606.5 million. The Ebitda margin increased to 23.3% from 20.9% compared to the previous year. Net profit also witnessed a growth of 55%, reaching Rs 459.8 million compared to Rs 295.7 million in the corresponding period last year. Domestic revenue saw a 20% increase, reaching Rs 2,400 million, while export earnings increased by 118% to Rs 207 million.
- Gujarat Gas: The gas distribution company has entered into a Memorandum of Understanding (MoU) with Hindustan Petroleum Corporation (HPCL). As per the agreement, HPCL will supply liquid fuels, auto lubricants, greases and specialties at Gujarat Gas outlets. In return, Gujarat Gas plans to set up a mother compressed natural gas (CNG) facility at HPCL outlets.
- Dixon Technologies: The electronic manufacturing services company reported a notable 87 per cent year-on-year rise in consolidated net profit, which stood at Rs 97 crore for the October-December quarter of FY24. This growth was driven by strong revenues, even though the operating margin faced weakness due to high input costs. Revenue from operations saw a substantial increase of 100 percent, reaching Rs 4,818.3 million compared to the corresponding period of the previous year.
- India Pesticides: Quant Mutual Fund and Quant Active Fund sold 5,76,800 equity shares, equivalent to half a percent of the paid-up capital, in the chemicals manufacturing company through an open market transaction. The shares were sold at an average price of Rs 376.12 per share. As of December 2023, Quant MF held a 1.59 percent stake in the company.
Top Videos
Do Prince Harry and Megan Markle want to reconcile with the royal family? | United Kingdom | N18V
Mayank Agarwal files police complaint after drinking poisonous liquid on Delhi-bound flight
Billionaire Sultan Ibrahim sworn in as Malaysia’s new king
Imran Khan and his wife were sentenced to 14 years in prison for corruption
Hamas is reportedly studying a new ceasefire proposal; Iran warns of decisive response to any attack
first published: February 1, 2024, 08:52 IST
« former
Taapsee Pannu Enjoys Nick Jonas’ Lollapalooza Concert, Says ‘Jijaji Stage Pe Hai’
next »
Vicky Jain Shares Adorable Photo With Ankita Lokhande Ahead Of Bigg Boss 17 Finale: ‘I’m With You’
