Hindalco (+3%), L&T (+2%) & more
Market Summary
Nifty rose due to marginal improvement in FII inflows and upside in domestic investments.
Companies
Hindalco (+3%) rose as the company is planning to raise Rs 700 cr via NCDs. Tata Steel (+2%) rose due to a faster opening of China's economy, and resilient domestic demand. L&T (+2%) rose on the expectation of strong order inflows and improved execution.
Sectors
Nifty Metal (+2%) rose due to strong performance of Welspun Corp, APL Apollo, SAIL, Hindustan Zinc, Hindalco and Tata Steel. Nifty PSU Bank (-1%) declined due to weak performance of BOI, Indian Bank, UCO Bank, BOB and PNB. Nifty Oil & Gas (-1%) declined due to weak performance of Castrol, BPCL, GAIL and Reliance.
Market News
1. Deep Industries (+2%) rose as the company's board will meet on February 6 to discuss a stock split. (Money Control)
2. PSP Projects (-2%) declined after the company's Q3 PAT tumbled by 29% ( to Rs 35.36 cr). (Business Standard)
3.Central Bank of India's Q3 net profit jumped by 64% (to Rs 458 cr). (Money Control)
4.CCL Products consolidated net profit rose by 25% ( to Rs 73.06 cr) in the December 2022 quarter. (Business Standard)
5.Adani Enterprise Rs 20,000 cr FPO to open on January 27. (Economic Times)
Market Sentiment
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