After opening the day marginally low, the Indian benchmark continued its downtrend as the session progressed, eventually closing more than 200 points lower.Benchmark equity indices, BSE Sensex and NSE Nifty50, ended Thursday’s session in negative territory as investors awaited the RBI MPC outcome scheduled for tomorrow, Friday.At the closing bell, the BSE Sensex closed lower by 213 points (down 0.2%).Meanwhile, the NSE Nifty closed 92 points lower (down 0.4%).Cipla, Infosys, and Adani Ports are among the top gainers today.Trent, NTPC, and Titan on the other hand, were among the top losers today.The GIFT Nifty was trading at 23,699, down by 51 points at the time of writing.The BSE MidCap index ended 0.9% lower and the BSE SmallCap index ended flat.Sectoral indices were trading mixed with stocks in the healthcare sector and IT sector witnessing buying. Meanwhile, the stocks inthe realty sector and power sector witnessing selling pressure.The rupee is trading at 87.59 against the US$.Gold prices for the latest contract on MCX are trading 0.1% lower at Rs 84,481 per 10 grams.Meanwhile, silver prices were trading 0.8% lower at Rs 95,200 per 1 kg.
Triveni Engineering Shares Rises 3%. Here’s WhyIn news from the sugar sector, Triveni Engineering and Industries shares gained about 3% on Thursday, February 6, despite recording a 69% year-on-year decline in its net profit for Q3FY25 results.However, its revenue from operations rose by 3%.As per a recent announcement, Rolls-Royce Marine North America Inc. and Triveni Engineering and Industries Limited (TEIL) have signed an MoU to explore opportunities to collaborate on programs for 4 MW marine gas turbine generators (GTG) for customers in India.This would include aspects of design, development, and manufacturing of the marine GTGs, alongside the provision of comprehensive sales and support activities.On Tuesday, 4 February, the company announced its Q3FY25 results, recording a 69% year-on-year (YoY) decline in net profit to Rs 0.4 billion (bn).In the previous financial year’s corresponding quarter, Triveni Engineering & Industries recorded a net profit of Rs 1.4 bn.For the concerned period, the company’s revenue from operations was Rs 1.6 billion, marking a gain of 3% year-over-year, as compared to Rs 1.5 bn in Q3FY24.
As the government raises the price of ethanol from C-heavy molasses, Triveni Engineering is set to benefit.
Happiest Minds Deal RenewalsMoving on to news from the IT sector, Happiest Minds, led by IT veteran Ashok Soota, has successfully completed nearly all of its deal renewals for the year.This marks a significant achievement, especially after last year’s uncertainties that led to a delayed renewal cycle, now pushed to January 2025.The company has seen a notable shift in customer sentiment, with a more positive outlook emerging following improvements in key US macroeconomic indicators. This optimism has contributed to stronger customer confidence and an improved business pipeline.Furthermore, the initiatives implemented earlier in the year have paid off, further boosting the company’s performance and setting the stage for continued growth in the coming months.
VRL Q3 Profit Surges 335%Moving on to news from the logistics sector, VRL Logistics shares saw a sharp 20% increase in Thursday’s intraday trade on 6 February, defying the overall weak market sentiment.The surge in the company’s stock price followed the release of its impressive Q3 results on 5 February 2025.For the quarter ending 31 December 2024, VRL Logistics reported total revenue of Rs 8.3 bn, marking a 4% increase quarter-on-quarter (Q-o-Q) and a 12% rise year-on-year (Y-o-Y).Revenue from operations stood at Rs 8.3 bn, reflecting a 12% Y-o-Y growth from Rs 7.4 bn and a 3% sequential increase from Rs 7.9 bn bn.The company’s Q3 EBITDA (earnings before interest, tax, depreciation, and amortization) reached Rs 1.7 bn, a remarkable 78% year-on-year growth from Rs 0.9 bn in Q3FY24. Sequentially, EBITDA rose by 27% from Rs 1.4 bn.
Jindal Stainless Block DealMoving on to news from the steel sector, shares of Jindal Stainless rose 1% in early trade on February 6, following a block deal worth Rs 1 bn on the exchanges. A total of 1.62 m shares, representing a 0.2% stake, changed hands in the deal window.The shares were traded at an average price of Rs 635, which was in line with the previous day’s closing price.For Q3, Jindal Stainless reported mixed results, with revenue increasing but profitability facing pressure. Consolidated net profit fell 5.5% year-on-year to Rs 6.5 bn from Rs 6.9 bn.However, revenue grew by 8.5% to Rs 99.1 bn, up from Rs 91.3 bn in the same quarter last year.EBITDA dropped 3.1% to Rs 12.1 billion, while the EBITDA margin slipped to 12.2% from 13.7% in Q3 FY23.The company also declared an interim dividend of Rs 1, with 8 February set as the record date.The average realization per unit declined 0.8% sequentially, as stainless steel prices remained flat amid cheap imports from China and continued weakness in the European export market.Sensex Today Trades Marginally Lower; Nifty Below 23,700Sensex Today Ends 313 Points Lower; Nifty Below 23,700Sensex Today Trades Flat; Nifty Above 23,750
