NTPC and Mahindra Logistics experience downturns, market volatility persists

On January 30, the stock market witnessed significant movements, closing lower as several heavyweights faced selling pressure in a volatile trading session. The Sensex concluded 801.67 points, or 1.11 percent, lower at 71,139.90, while the Nifty dipped by 215.50 points, or 0.99 percent, closing at 21,522.10. The market sentiment is expected to remain uncertain in anticipation of the upcoming Budget on February 1 and the US Fed rate decision a day earlier. Out of a total of 4,757 traded stocks, 2,095 advanced, 1,557 declined, and 107 remained unchanged.

Notable stock movements on January 30 include:

Tata Motors (CMP Rs 864.9): The stock gained 2.84 percent ahead of its Q3 results announcement on February 2, driven by record sales in the JLR segment and an impending price hike in the personal vehicle segment.

LIC (CMP Rs 933): LIC rose by 1.9 percent, surpassing its issue price for the first time, following the RBI's approval allowing the insurer to increase its stake in HDFC Bank.

Tata Investment Corp (Rs 5,794): Tata Investment Corporation surged by 20 percent and hit the upper circuit after reporting a 53 percent YoY rise in consolidated net profit (PAT) to Rs 53.2 crore in the December quarter.

BPCL (CMP Rs 502.7): BPCL shares surged by 2.04 percent as the company's consolidated net profit witnessed an 82 percent YoY increase in the October-December quarter of FY24.

Zee (CMP Rs 171.2): Zee shares rallied by 5.84 percent amid reports of an emergency arbitration hearing scheduled in Singapore on January 31 regarding its terminated merger with Sony.

Marico (CMP Rs 524.05): The stock gained 1.44 percent as Marico's net profit grew by 16 percent to Rs 386 crore in the December quarter.

Mahindra Logistics (CMP 416.65): Mahindra Logistics stock declined by 4.78 percent after the company reported a loss of Rs 17.41 crore in Q3FY24.

NTPC (CMP Rs 316.1): NTPC ended 2.6 percent lower as the company's revenue and EBITDA fell despite an increase in profit in the December quarter.

PNB (CMP Rs 109.15): PNB stock jumped 1.53 percent, marking its fourth consecutive session of gains, following the bank's announcement of a plan to raise Rs 7,500 crore through QIP or FPO during FY25.

Vodafone Idea (Rs 14.5): Vodafone Idea stock fell by 1.36 percent after disappointing Q3 results, with flat revenue at Rs 10,673 crore and a narrowed net loss of Rs 6,985 crore compared to Rs 7,990 crore a year ago.