Rupee Hits Record Low | Sun Pharma Announces Interim Dividend | Top Buzzing Stocks Today

Sat, 1 Feb Pre-Open

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Indian benchmark indices gained as the session progressed and ended the day higher.

Benchmark equity indices continued their northward march for the fourth consecutive session to settle with gains, as Finance Minister Nirmala Sitharaman presented the Economic Survey 2024-25 in Parliament today.

At the closing bell on Friday, the BSE Sensex closed higher by 741 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 259 points (up 1.1%).

Nestle, Trent and L&T was the top gainers.

Bharti Airtel, Bajaj Finance and ICICI Bank on the other hand, were among the top losers.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

The BSE MidCap index and BSE SmallCap index ended 1.8% higher.

Sectoral indices were trading mixed with socks in power sector, capital goods sector and realty sector witnessing most buying speer.

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Top buzzing stocks today

Marico share price will be in focus today.

Marico Ltd has reported a 4.2% year-on-year increase in consolidated net profit, which rose to Rs 3.9 bn for the October-December quarter of FY25.

The company's revenue saw a notable 15% YoY growth, reaching Rs 27.9 bn. This growth was primarily driven by higher sales volumes in both the domestic and international markets.

Navin Fluorine will also be a top buzzing stock.

Navin Fluorine International saw a remarkable 10% surge in its stock price on 31 January, reaching a 52-week high of Rs 4,299.05.

This surge followed the company's strong Q3 earnings, which showed a 7.2% year-on-year increase in net profit, reaching Rs 836 m.

Sun Pharma Announces Interim Dividend

Drug major Sun Pharmaceuticals announced an interim dividend of Rs 10.50 per equity share for the financial year 2024-25.

The company has set 6 February 2025, as the record date for the dividend, which will be paid on or before February 20, 2025.

Sun Pharmaceutical Industries reported a 15% year-on-year rise in its consolidated net profit to Rs 29 bn for the third quarter of FY25, in line with Street estimates. The company's revenue grew 10% year-on-year to Rs 136.7 bn during the October-December period, supported by strong growth in the domestic and emerging markets businesses.

The company clarified that the settlement was agreed upon in principle, with no admission of wrongdoing. It continues to defend related legal matters in the US and Canada that were not part of the consolidated litigation.

Vedanta Q3 Profit Jumps 76%

Vedanta Ltd on Friday reported a 76% year-on-year (YoY) increase in its consolidated net profit for the quarter ended 31 December 2024, amounting to Rs 35.4 bn. The profit is attributable to the owners of the company.

Revenue from operations grew by 10% YoY to Rs 385.26 billion. Consolidated EBITDA during the third quarter rose 30% YoY to Rs 112.84 bn, with margins improving by 517 basis points YoY to 34%.

Revenue growth for the quarter was driven by favourable market prices and higher premiums. The strong operating performance was largely due to structural cost-saving initiatives across businesses, favourable output commodity prices, partially offset by inflation in input commodity costs.

Operationally, the company recorded its highest-ever aluminium production of 613 kilotons, up 2% YoY.

Zinc India operations achieved the lowest cost of production (CoP) in the last 15 quarters, with a CoP of $1,041 per ton, down 5% YoY and 3% QoQ. Zinc International's mined metal production increased 12% YoY to 46 kilotons in the third quarter, while Zinc International delivered its lowest CoP in the last seven years at $1,181 per ton.

Rupee Hits Record Low

The Indian rupee hit a record low on Friday, as concerns over U.S. trade tariffs under President Donald Trump weighed on most Asian currencies, while the Reserve Bank of India (RBI) likely intervened to support the local unit.

The rupee fell to 86.65 per dollar, surpassing its previous record low of 86.6475 set earlier in the month.

The dollar index rose to 108.2, while most Asian currencies declined following Trump's announcement that he plans to impose tariffs on Canada and Mexico on Saturday and is considering new levies on China.

State-run banks were observed offering dollars, likely on behalf of the RBI, which helped mitigate the rupee's losses. Along with the risks from Trump's tariff policies, the rupee has also faced pressure from ongoing foreign portfolio outflows. Foreign investors have net sold nearly US$ 9 bn of local stocks and bonds so far in January.

PNB Q3 Results

Punjab National Bank (PNB) on Friday reported a 103% jump in its standalone net profit for the quarter ended 31 December 2024, to Rs 45.1 bn versus Rs 2,223 crore reported in the year-ago period.

The interest earned by the private lender in Q3FY25 stood at Rs 313.4 bn, up 15% over Rs 272.9 bn reported in the corresponding quarter of the previous financial year.

The state lender paid Rs 20,307 crore as interest in the reported quarter, 19% higher than Rs 169.9 bn paid in the year-ago period.

PNB's gross non-performing assets (NPAs) as of 31 December 2024, stood at Rs 454.1 bn, lower from Rs 475.8 bn in Q2FY25 and Rs 603.7 bn in Q3FY24.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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