Indian shares fell about 2% on Monday, joining a global sell-off that was fuelled by escalating tensions between Russia and the West over Ukraine. The BSE Sensex fell over 1,200 points while Nifty gave up about 375 points, with banking and financial stocks extending the decline. Investors will be keeping a keen eye on January retail inflation data, due out later in the day.
Amid the market sell-off, certain individual stocks rose post Q3 results and announcements that triggered positive momentum. Driller Oil and Natural Gas Corp rose as much as 5% as strong crude prices boosted its quarterly profit by seven-fold. Its net profit witnessed multi-fold growth at ₹8,764 crore in October-December 2021 as compared to ₹1,258 crore in the year-ago quarter.
Meanwhile, IT giant Tata Consultancy Services (TCS) shares surged over 2% after the company fixed February 23, 2022 as as the record date for its ₹18,000 crore share buyback, entailing 4 crore equity shares at ₹4,500 apiece.
Apollo Hospital is another such buzzing stock in Monday’s early deals that gained around 4% in trade. The healthcare provider’s consolidated net profit rose 81% to ₹243 crore in the third quarter whereas its total income during increased to ₹3,656 crore from ₹2,765 crore in the same quarter last year.
Separately, multibagger stock Mirza International shares rallied over 16% today after as the company’s consolidated net profit surged over 173% to ₹44 crore in the third quarter as against ₹16 crore during the previous quarter ended December 2020, on the back of more than 54% year-on-year (YoY) rise in its sales at ₹589 crore.
Shares of Sequent Scientific were trading about 9% higher in Monday’s deals despite reporting a dip in net profit at ₹18.5 crore in the quarter ending December whereas its revenue from operations was almost flat at ₹358 crore.
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