Nifty hits high: Tata, HDFC stocks surge, Airtel in focus

Sensex has fallen over 100 points, Nifty below 14,600. Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading at record high levels on Wednesday. BSE Sensex was hovering around 50,300, while the broader Nifty 50 index was ruling above 14,800. Dr Reddy’s Laboratories, Sun Pharma, Tech Mahindra, Mahindra & Mahindra, Titan Company were among top BSE Sensex gainers. On the flip side, HDFC Bank, Reliance Industries Ltd. (RIL), Kotak Mahindra Bank, HDFC, SBI were among top BSE Sensex draggers, Barring Nifty Realty index, all the sectoral indices were trading in the green, led by gains in Nifty Pharma index. In overnight trade on Wall Street, US stocks finished sharply higher for a second straight day on Tuesday.

The Rs 1153.72 crores Home First Finance Company initial public offer which saw 26.66 times subscription, made a trading debut on Dalal Street today at Rs 612 per share, a premium of Rs 94 or 18.18 per cent from the issue price on Wednesday. The issue had received bids for 41.64 crore shares against 1.56 crore shares on offer. The affordable housing firm was seen commanding a strong grey market premium.
Here are some of the major highlights of 3 February:
  • Infosys, IndusInd Bank, HDFC, ICICI Bank top boosts for Sensex; Kotak Bank, Maruti Suzuki top drags
  • Most sectors in the green; IT, pharma, metal shares lead gains
  • Home First Finance lists at 19% premium over the issue price
  • Delhi High Court puts Future-Reliance Retail deal on hold
  • Dr Reddy’s, Tata Motors, IOC, Cipla top Nifty gainers
  • Asian Paints, Airtel top BSE Sensex gainers in pre-open

What’s happening in the stock market today?

  • Q3 earnings today
    Bharti Airtel, Adani Enterprises, Adani Green Energy, Apollo Tyres, Adani Total Gas, Bajaj Consumer Care, City Union Bank, Deepak Fertilisers, Hindustan Copper, Indian Hotels, Inox Leisure, Jubilant FoodWorks, etc will announce their quarterly earnings on February 3.
  • Tata Motors share rose over 11% today
    Share of Tata Motors gained 11.2%, a fresh 52-week high, to Rs 312 against the previous close of Rs 279.75 on BSE. On March 5, 2021, the company has called a meeting of the secured creditors and its shareholders to consider and approve the transfer of passenger vehicles business unit to TML Business Analytics Services.
  • Tata Consumer Products
    The company released its quarterly earnings on Tuesday and reported a consolidated profit at Rs 218.2 crore in Q3FY21 up by 28.8% against Rs 169.3 crore in Q3YFY20. The revenue of the company increased to Rs 3,069.6 crore from Rs 2,493 crore on yearly basis. The company is also all set to acquire Kottaram Agro Foods for Rs 156 crore.
  • Infosys
    The company on Tuesday said that it has been selected as a strategic partner to implement an enterprise resource planning (ERP) system by Siemens Gamesa Renewable Energy.
  • Ajanta Pharma
    The company reported sharply higher profit at Rs 176.6 crore in the December Q3 rising by 64.23% against Rs 107.6 crore in Q3FY20. The revenue of the company also rose 14.98% to Rs 748.7 crore from Rs 651.2 crore in the corresponding quarter of the previous fiscal.
  • Ratnamani Metals
    Releasing its quarterly earnings, the company has reported a consolidated profit at Rs 60.1 crore in Q3FY21 declining by 40.5% compared to Rs 101 crore in the same period last year. The revenue of the company also fell to Rs 440.8 crore from Rs 756 crore in the year-ago period.
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