Market Weekly

Nifty rose due to healthy Q3 results and the Union Budget.

Companies

ITC (+10%) rose as Q3 net profit zoomed by 23% to Rs 5,070 cr. Adani Enterprise (-43%) and Adani Ports (-16%) plunged after the firm scrapped the Rs 10 Billion bond plan amid a row with Hindenburg and Dow Jones decided to remove the conglomerate from the sustainability indices. HDFC Life (-17%) plunged after the Union Budget 2023 proposed to limit the income tax exemption from proceeds of insurance policies with very high value.

Sectors

Nifty FMCG (+3%) rose due to stellar Q3 results of Britannia and ITC. Nifty Oil & Gas (-9%) declined due to disappointing Q3 results of Indian Oil Corporation and BPCL.

Weekly Market News

1. Larsen and Toubro Q3 net profit rose by 24% to Rs 2,553 cr. (Economic Times)

2.Sun Pharma Q3 net profit rose by 5% to Rs 2,166 cr. (Money Control)

3.HDFC Q3 net profit rose by 13% to Rs 3,6921 cr. (Economic Times)

4.BOB Q3 net profit surged by 75% to Rs 3,853 cr. .(Zee Business)

5.SBI Q3 net profit surged by 68% to Rs 14,205 cr. (Money Control)

Tribe Weekly

February 6 Adani Transmission Ltd, Tata Steel Ltd, Varun Beverages Ltd, LIC Housing Finance Ltd, JK Paper quarterly results. 

February 7 Bharati Airtel Ltd, Adani Green Energy Ltd, Adani Ports & Special Economic Zone Ltd, Ambuja Cements, Hero Motor Corp Ltd, and Aditya Birls Fashion and Retail Ltd quarterly Results. 

February 8 Shree Cements Ltd, Adani Power Ltd, Adani Wilmar Ltd, Oberoi Realty, and Cummins India Ltd quarterly results.

February 9 LIC, Adani Total Gas Ltd, Hindalco Industries, HAL, IRCTC, Page Industries Ltd, Zomato Ltd, MRF Ltd, HPL, Voltas, Aurobindo Pharma, and United Breweries Ltd quarterly results.

February 10   Mahindra and Mahindra Ltd, Abbott India Ltd, Oil India, Bharat Heavy Electricals Ltd, Delhivery Ltd, PB Fintech Ltd, Rail Vikas Nigam Ltd, National Aluminium Company Ltd, and Glenmark Pharmaceuticals Ltd quarterly results. 

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