Sensex and Nifty Decline, EaseMyTrip Venture into Hospitality

12 Feb 2024 , 01:46 PM

The Sensex recorded a decline of 493.67 points (0.69%) at 71,101.82, while the Nifty was down by 154.50 points (0.71%) at 21,628. Market activity showed 817 advancing shares, 2545 declining shares, and 65 unchanged shares.

Nifty and Sensex struggled for direction on Monday, with a focus on January’s inflation print. Bank and IT stocks witnessed gains, while RIL faced losses. Nifty PSU and IT indices each rose over 1%, and India VIX increased by 5%.

Top gainers include Zydus Life (6.70%), MRF (3.81%), Aarti Ind (3.23%), Wipro (3.15%). Top losers include Bandhan bank (-7.77%), MCX India (-7.38%), NALCO (-6.79%), Tata power (-6.15%). The rupee strengthened by 8 paise to 82.99 against the US dollar in early trade.

Yatharth Hospital and Trauma Care Services acquired Faridabad-based Asian Fidelis Hospital for ₹116 Crore, expanding its healthcare operations in the NCR.

Shares of Multi Commodity Exchange of India (MCX) dropped 8.4% to ₹3,510 following the firm’s net loss reported in the December quarter earnings.

Hero MotoCorp reported a 51% YoY growth in net profit to ₹1,073.40 Crore for the quarter ending December, with a 21% YoY increase in revenue to ₹9,724 Crore.

Indian Railway Finance Corporation (IRFC) shares fell over 10% to ₹137 after reporting a 1.7% YoY decline in net profit to ₹1,604 Crore in Q3 FY24.

Bajaj Healthcare posted a net loss of ₹2.2 Crore for Q3 FY24, with a YoY revenue decline of 18.1% to ₹108.6 Crore. The CFO and Whole Time Director, Rupesh Nikam, resigned.

EaseMyTrip shares fell 7% from intraday highs on February 12 despite plans to establish a 5-star hotel in Ayodhya near the Ram Mandir temple. The firm received in-principle approval for a joint venture, committing ₹100 Crore as one of the joint venture partners in Jeewani Hospitality.

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