SBI (+4%), Cipla (-2%) & more
Market Summary
Nifty snapped a four-day losing streak as it was fuelled by bottom fishing & optimistic sentiment from global counterparts.
Companies
SBI (+4%) rose as the bank's card is expected to go live on the Rupay credit card on UPI feature by March. IndusInd Bank (+4%) rose due to robust business growth, an uptick in NIM ( net interest margin), & moderation in provision. Dr Reddy (-1%) declined as the company's subsidiary DRRDBV entered into a pact to sell assets & liabilities of its Netherlands-based site.
Sectors
Nifty PSU Bank (+7%) rose due to stupendous performance of JK Bank, IOB, Union Bank, Bank of India & Bank of Maharashtra. Nifty Media (+3%) rose due to strong performance of Dish TV, TV18 Broadcast, TV Today Network & Network 18. Nifty Bank (+2%) rose due to strong performance of Yes Bank, Federal Bank, RBL Bank, IDFC First Bank & IndusInd Bank.
News of The Day
1.GPT Infraprojects (+20%) rose as the company's arm won a Rs 123 cr order in Ghana. (Investing)
2.Inox Green Energy (+10%) rose after the company announced that they will acquire a majority stake in O&M service provider. (CNBC TV 18)
3.Aurionpro (+9%) rose after the company bagged Rs 150 cr multi-year order for its payment platform. (Money Control)
4.Power Mech Projects (+7%) rose after the company bagged orders worth Rs 1,034 cr. (Business Standard)
5.L&T (+1%) rose after the company secured a significant order for its water & effluent treatment business. (Mint)
Market Sentiment
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