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Sensex Today Trades Lower | IT Stocks Shine | Amber Enterprises Tanks 11%, SJVN 10%
Mon, 12 Feb 10:30 am

Sensex Today Trades Lower | IT Stocks Shine | Amber Enterprises Tanks 11%, SJVN 10%

Asian stocks kept to a tight range on Monday with a bulk of major markets in the region closed for the Chinese New Year.

The Nikkei index is trading flat, while Hang Seng was trading 0.8% lower.

US Stocks rose on Friday after December's revised inflation reading came in lower than first reported, and the S&P 500 closed above the key 5,000 level as strong earnings and economic news chugged on.

Here's a table showing how US stocks performed on Friday:

Stock/IndexLTPChange ($)Change (%)Day HighDay Low52-Week High52-Week Low
Alphabet150.223.002.04%150.7147.43155.288.86
Apple188.850.770.41%189.99188199.62143.9
Meta468.11-1.89-0.40%473.59467.47485.96167.66
Tesla193.574.012.12%194.12189.48299.29152.37
Netflix561.322.790.50%566558.1579.64285.33
Amazon174.454.612.71%175170.5817588.12
Microsoft420.556.441.56%420.82415.09420.82245.61
Dow Jones38671.69-54.64-0.14%38734.2838567.938783.6231429.82
Nasdaq17962.4179.241.01%17987.917798.8117987.911695.41
Source: Equitymaster

At present, the BSE Sensex is trading 118 points lower and NSE Nifty is trading 37 points lower.

Wipro, UPL and HCL Tech are among the top gainers today.

ONGC, SBI and NTPC on the other hand are among the top losers today.

Broader markets are trading on marginally lower. The BSE Mid and the BSE Small Cap index is trading flat

Sectoral indices are trading mixed, with socks in healthcare sector, IT sector and media sector witnessing buying. Meanwhile stocks in oil & gas sector and energy sector witnessed selling pressure.

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The rupee is trading at Rs 83.0 against the US dollar.

In commodity markets, gold prices are trading flat at Rs 62,225 per 10 grams today.

Meanwhile, silver prices are trading 0.4% higher at Rs 71,083 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock markets, Tata Motors has now gone past Maruti Suzuki to emerge as India's most valuable auto manufacturer.

From a loss of Rs 287 bn in FY19, perhaps its highest ever, Tata Motors has earned record profits of Rs 157 bn in the trailing twelve-month period. And it is this turnaround that has led to investors warming up to the stock and turning it into a 12-bagger since its March 20 lows.

However, when it comes to fundamental parameters like profitability, return ratios and balance sheet strength, Maruti is comfortably ahead of Tata Motors.

Why is it then Tata Motors enjoys nearly the same valuation as Maruti? Why is Mr Market considering Tata Motors at par with Maruti?

Co-head of Research, Rahul Shah answers this in below video.

ONGC Q3 Results

Oil and Natural Gas Corporation (ONGC) posted a decline of around 8% in consolidated net profit at Rs 107.5 bn in the December quarter of the financial year 2023-24.

The oil and gas exploration giant reported a 2.2% decrease in revenue from operations for the third quarter of the current fiscal year, amounting to Rs 1,655.7 bn. This is in contrast to the Rs 1,692.1 bn recorded in the same period of the previous year.

ONGC also declared the second interim dividend of Rs 4 per share, which will be paid to eligible shareholders on or before 10 March 2024.

In the third quarter, the company's total crude oil production slipped 3.3% from last year at 5.2 million metric tonnes (MMT). Meanwhile, ONGC's total oil production in the first nine months of FY24 declined 2.9%.

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The company said the decline in output in the nine months was due to a shut down in Panna-Mukta offshore platforms for the commissioning of new crude oil pipeline, cyclone Biparjoy and natural decline from mature fields.

ONGC said it is taking proactive steps by implementing well interventions and advancing new well-drilling activities to counter the decline in output.

The company also expects oil production commencement from KG-DWN-98/2 block to arrest the decline.

ONGC represents 67% of India's oil and 54% of its gas production. The company has devised an annual expenditure plan of approximately Rs 300 bn to drive further growth.

chart

ONGC's share price recently zoomed 8% and hit a 52-week high. To know what's driving the rally, check out Why ONGC Share Price is Rising.

Hero MotoCorp Q3 Profit Jumps 51.3%

Hero MotoCorp on Friday said its consolidated net profit increased by 51.3% year-on-year (Y-o-Y) to Rs 10.9 bn during the third quarter of 2023-24.

It was due to high demand for premium products, robust sales during the festival season, decrease in commodity costs and price hikes.

India's largest two-wheeler maker also announced that it is going to invest up to Rs 6 bn to set up a second storage facility by March 2027 in Tirupati, Andhra Pradesh, to stash components, accessories and merchandise.

The company's existing storage facility is in Neemrana, Rajasthan, and its capacity of 26,000 stock-keeping units (SKUs) has been fully utilised. The second storage facility will have a capacity of 36,700 SKUs.

Hero MotoCorp said its focus on parts, accessories and merchandise business has led to it crossing an annualised revenue of Rs 50 bn.

The company also declared an interim dividend of Rs 75 per share and a special dividend of Rs 25 per share for 2023-24, marking the centennial year of Chairman Emeritus Brijmohan Lall Munjal.

The payment of dividends will be completed by 9 March.

The company sold 1.46 million units of two-wheelers in the third quarter of 2023-24, which was 17.7% more than in the corresponding quarter of the previous financial year.

In comparison, the company's total expenses increased by 16.9% to Rs 86.2 bn in the third quarter.

To know which two-wheeler stock is leading the race in 2024, check out Hero MotoCorp vs TVS Motors: Which Two-Wheeler Stock is Better in 2024?

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

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


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