Good afternoon
Markets are trading in the green, with the NIFTY50 trading above 21,600 as of 1:45 pm. Here are the top stories for the day!
Top gainer: Coal India: 398 ▲ 15 (+4.0%)
Top loser: HUL: 2,482 ▼ 81 (-3.1%)
Kotak Mahindra Bank’s Q3 profit rises
The private bank reported net profit of ₹3,005 crore, up 8% YoY in the December quarter. This was supported by a 16% rise in the net Interest Income to ₹6,554 crore. Meanwhile, the net interest margin (NIM), which is a key measure of profitability, stood at 5.22% for Q3FY24.
Companies linked to Railway infrastructure zooms
Railway-related companies are on the roll for a second straight day, amid expectation of higher budgetary allocation for Indian Railways in the upcoming interim budget on 1 February. Shares of Ircon International, Rail Vikas Nigam, and IRCTC are up in the range of 10% to 30% with high volumes. Meanwhile, Indian Railway Finance Corp (IRFC), Titagarh Rail Systems, and Jupiter Wagons are up 7 to 9%.