Stocks in news: Trent, SBI and Swiggy among 6 stocks that hogged limelight today
The benchmark indices experienced a moderate decline as investors awaited the RBI's decision on a potential rate cut amidst the ongoing trade war, said Vinod Nair, Head of Research at Geojit Financial Services.
Indian equities ended Thursday's session (February 6) lower ahead of the crucial RBI monetary policy outcome tomorrow. At the close, , the 30-share BSE Sensex ended with a cut of 0.27 per cent or 213.12 points at 78,058.16, while the NSE Nifty50 lost 0.39 per cent or 92.95 points and settled at 23,603.35.
It is widely anticipated that the Reserve Bank of India (RBI) will reduce interest rates for the first time in almost five years during Governor Sanjay Malhotra's inaugural monetary policy review on Friday.
SBI
Shares of the state-run lender ended nearly 2 per cent lower at Rs 752.35 even as the bank's standalone net profit grew 84.32 per cent to Rs 16,891.44 crore in the December quarter.
Trent
Trent shares tumbled by over 8 per cent to Rs 5,275 apiece on the BSE after the company announced its plan to take on store portfolio optimisation. Also, on the sidelines the company released its third quarter earnings.
Tech Mahindra
Tech Mahindra emerged as the top gainer amid buoyancy in the IT pack after Cognizant forecasted stronger growth for CY25. The stock ended higher by nearly 1 per cent at Rs 1,676.95.
Swiggy
After a weak set of Q3 earnings, shares of the food delivery platform ended with a cut of 7 per cent at Rs 388.9. In intraday trade, the stock hit its fresh 52-week low price of Rs 386.4 per share.
Enviro Infra Engineers
Shares of the water supply and management company settled with gains of over 8 per cent at Rs 283.9 after the company’s consolidated net profit surged 104.9 per cent to Rs 36.70 crore in Q3FY25.
Hero MotoCorp
Ahead of its Q3 earnings later today, shares of the 2-wheeler major ended lower by 1 per cent at Rs 4,235. Zee Business analysts expect the auto company to post a 3.3 per cent year-on-year (YoY) rise in standalone profit after tax (PAT) during the review period at Rs 1,108 crore,