The Sensex closed 242.83 points higher at 61,275.09. The Nifty ended 86 points higher at 18,015.80. About 1,722 shares advanced, 1,657 shares declined, and 129 shares were unchanged. Take a look at the top gainers and losers.
Eicher Motors | CMP: Rs 3,316 | After a strong show in Q3, foreign brokerage Jefferies has maintained a 'Buy' rating on the stock with a target price of Rs 4,250 per share. It noted that the company's Q3 operating profit rose to hit a new high. The stock closed 4.4 percent higher.
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Torrent Power | CMP: Rs 504 | The share price rallied 10 percent as the company reported stellar growth in net profit and sales for the December quarter. The company's net profit surged by 88 percent to Rs 694 crore compared to the same period last year, driven by higher income. The revenue from operations grew by an impressive 71 percent YoY to Rs 6,442.79 crore.
Finolex Cables | CMP: Rs 672.20 | Finolex Cables has been on a winning streak for the past six days on the back of its strong Q3 results. The stock touched a 52-week high of Rs 700 on the NSE on February 15, making a 12.45 percent increase from the previous close.
ITC | CMP: Rs 382.10 | ITC, a leading diversified conglomerate, saw its share price dip 2 percent on February 15, which is the record date for its interim dividend of Rs 6. This dip came after a strong rally of 3 percent in the previous trading session.
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Fine Organic Industries | CMP: Rs 4,740 | HDFC Securities maintained its add rating on the stock with a target price of Rs 5,157. It believes Fine Organics is gradually moving towards normal margins due to softening of raw material prices. The stock closed 3.9 percent higher.
TVS Motor Company | CMP: Rs 1,104.75 | Shares of the leading two-wheeler manufacturer TVS Motor climbed 2.4 percent. According to sources familiar with the matter, global investment firms Goldman Sachs, Carlyle, and Abu Dhabi Investment Authority (ADIA) are considering an investment of $300-350 million in TVS Electric Mobility.
PI Industries | CMP: Rs 3,124 | Net profit of PI Industries jumped 58.04 percent to Rs 351.80 crore in the quarter ended December 2022 as against Rs 222.60 crore YoY. The stock closed 2.9 percent higher in trade.
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Siemens | CMP: Rs 3,227.35 | The stock gained 3.28 percent after the company's net profit showed significant growth of 85.1 percent year on year, reaching Rs 462.7 crore in the December quarter. Prabhudas Lilladher, a brokerage firm, maintains a positive stance on Siemens and has raised its target price to Rs 3,310. It has an Accumulate rating for the stock.
Bharat Forge | CMP: Rs 835.10 | Bharat Forge's stock price declined by over 6 percent following the company's announcement of its December quarter earnings. The company posted a net profit of Rs 289 crore for the third quarter, a decline of 14.3 percent YoY. Foreign brokerage Citi has a sell rating on the stock with a target of Rs 690 per share.
TCNS Clothing | CMP: Rs 440 | TCNS Clothing Company, a leading women's apparel retailer in India, saw its shares drop by around 5.8 percent and hit a 52-week low after announcing a disappointing third-quarter earnings report. The company reported a net profit of only Rs 50 lakh, which was down 98 percent year-on-year. Revenue also declined by 6.8 percent on year to Rs 306.1 crore, dragged by a specific fabric issue in brand W and muted B2B online sales.
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