Latest Stock Market News

The Nifty IT index was trading 0.59 per cent down at 42668.25.

Ola Electric s stock fell 3.44% after reporting a Q3FY25 net loss of Rs 564 crore, widening from Rs 376 crore YoY. Revenue declined 19% to Rs 1,045 crore. Deliveries dropped to 84,029 units. Goldman Sachs maintained a ‘Buy’ rating with a Rs 101 target, citing strong revenue and in-house component integration in the Gen 3 portfolio.

Several largecap stocks like Infosys, TCS, SBI, HUL, and Axis Bank are trading at lower PE ratios compared to their industry averages, indicating potential growth. Brokers predict these stocks could gain up to 40%. Example targets include TCS at Rs 4,532 and LIC at Rs 1,151. These insights are based on Trendlyne data.

The Nifty futures ended in the red on Friday, registering a loss of 0.28% to close at 23,622 levels. Meanwhile, India VIX dropped by 3%, closing at 13.68 in the previous trading session.

Bharat Electronics (BEL), a Navratna defence PSU, announced work orders worth Rs 962 crore, keeping its shares in focus on February 10. The company signed a Rs 610 crore contract for supplying the Electro Optic Fire Control System (EOFCS) to the Indian Navy. The indigenously developed system will be integrated on naval platforms, capable of tracking and engaging targets during day and night.

JM Financial recommends buying ITC shares with a target price of Rs 515 within a year. Currently priced at Rs 435.05, ITC, a large-cap company in the tobacco sector, faces mixed performance with weaker FMCG and Agri segments. However, cigarette sales showed resilience. The hotel s business performed well, and a hotel s demerger is expected to improve ROIC.

Foreign institutional investors (FIIs) continue to hold approximately USD 800 billion worth of Indian equities, but their ongoing selling remains a risk for the stock market, according to a report by BNP Paribas Exane, a European equity research firm.

Shares of Zaggle Prepaid Ocean Services plunged 10% to Rs 424.30 despite a 29.6% YoY rise in profit for Q3, and a 68.8% increase in revenue. Total expenses surged by 71.59% YoY. The company acquired a majority stake in Span Across IT Solutions and expects 58-63% revenue growth for FY25.

MTNL Share Price: BSNL, which also oversees MTNL s operations in Delhi and Mumbai, has been struggling with customer losses due to the absence of pan-India 4G services. The state-run company briefly saw a customer growth spurt for 3-4 months following the tariff hikes by private telecom operators in July last year. However, it has now returned to losing users.