Sensex Today Ends 227 Points Higher | Smallcap Stocks Shine | MRPL Surges 20%

Thu, 15 Feb Closing

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After opening the flat, Indian share markets gained momentum as the session progressed and ended the day higher.

The equity benchmark indices ended Thursday's trading session in the positive territory, led by gains in midcap and largecap stocks.

At the closing bell, the BSE Sensex stood higher by 227 points (up 0.3%).

Meanwhile, the NSE Nifty closed higher by 70 points (up 0.3%).

BPCL, M&M and ONGC were among the top gainers today.

ITC, Nestle and Axis Bank on the other hand, were among the top losers today.

The GIFT Nifty ended at 22,025 up by 112 points.

Broader markets are trading mixed. The BSE Mid Cap ended 0.9% higher and the BSE Small Cap index ended 1.2% higher.

Sectoral indices are trading mixed, with socks in metal sector, power sector and oil & gas sector witnessing most buying. Meanwhile, stocks in FMCG sector and healthcare sector witnessed selling pressure.

Shares of Maruti Suzuki, Bajaj Auto and Thermax hit their respective 52-week highs today.

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...

The rupee is trading at 83.05 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 61,450 per 10 grams.

Meanwhile, silver prices are trading 0.5% higher at Rs 70,509 per 1 kg.

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.

Yes Bank's Stake Sell

Moving on to news from the banking sector, shares of Yes Bank gained 0.5 percent on 15 February on NSE, as 390 m shares of the bank worth for Rs 11.3 bn were sold in bulk deals.

According to the media report, Carlyle Equity sold its 1.4% equity stake in Yes Bank. Carlyle had bought Yes Bank stake at Rs 13.8 per share in July 2022.

In Q3FY24, Yes Bank reported a net profit of Rs 2.3 bn for the quarter ended December 2023 against Rs 515 m in the previous fiscal. Gross non-performing assets (NPA) for the reporting period remained steady at 2% in the three months ended December 2023, while net NPA increased to 0.9%.

For Q3FY24, net interest income (NII) increased 2.3% from the previous fiscal.

On 6 February, the Reserve Bank of India had allowed HDFC Bank Group to acquire up to 9.5% stakes in 6 banks, including Yes Bank. This approval, the filing clarified was intended for investments by HDFC Asset Management Company (AMC), HDFC Ergo and HDFC Life Insurance.

The Yes Bank stock rose around 76% in the past one year.

Yes Bank shares hit their highest level since June 2020, surging 43% in three days. To know what's driving the rally, check out Why Yes Bank Share Price is Rising.

Oil India Stock Zooms 15%. Here's why.

Moving on to news from the energy sector, shares of Oil India surged 14% on 15 February to hit a new high of Rs 570.5 on the NSE in an otherwise volatile market on the back of robust production outlook.

The stock of state-run oil exploration and production company has surged around 18% after reporting its third quarter earnings on 13 February.

Oil India reported a marginal increase in year-on-year in consolidated net profit to Rs 26.1 bn, while its revenue from operations came in at Rs 109.1 bn, up 3%. The company's crude oil earnings before interest and tax (EBIT) in Q3 was Rs 14.3 bn, a decline of 7% YoY, and EBIT from the natural gas segment came in at Rs 7.3 bn, as against Rs 10.9 bn a year back.

Oil India's production growth guidance remains robust, with drilling activity and development wells in old areas contributing to this growth. The company is also applying new technologies to grow production.

Capacity expansion for Numaligarh Refinery (NRL) would also be completed by September 2025, which would help in further upside.

Why Indigo Share Price is Falling.

Moving on to news from the airlines sector, shares of IndiGo operator InterGlobe Aviation shares fell 2% in trade on 15 February. The company is in talks with the government to reduce cancellations to and from the Mumbai airport.

IndiGo is likely to cancel around six to 12 flights from the Mumbai airport, as per government directives. As talks progress, the operator plans to reduce the number of cancelled flights.

Singapore-headquartered BOC Aviation said it has entered into a finance lease transaction with InterGlobe Aviation Ltd on 14 February. The deal has been signed for four Airbus A320NEO aircraft.

On 9 February, a parliamentary panel proposed route-specific capping of airfare. The panel also proposed the creation of a separate entity to regulate and control air ticket prices, as customer concerns over surging airfares increased.

The parliamentary panel said based on the response from the civil aviation ministry on airfares, the airlines were not adequately self-regulating ticket prices in an effective manner.

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!

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