Today’s top morning headlines - 5th February 2024

Good afternoon

Markets are trading in the green, with the NIFTY50 trading above 21,900 as of 12:45 pm. Here are the top stories for the day!

Top gainer: Tata Motors: 937 ▲ 58 (+6.7%)
Top loser: UPL: 487 ▼ 46 (-8.6%)

:star:UPL tumble 8% on weak Q3 results
Shares of the agrochemical maker are down 8% today. This comes after the company posted a loss of ₹1,217 crore in Q3FY24 – compared to a net profit of ₹1,087 crore in Q3FY23. The destocking of high-cost inventory and higher rebates to support channel partners adversely affected the profitability.

:star:VA Tech Wabag at 52-week high
Shares of the water treatment company are up more than 5% today and are trading at their 52-week high. This comes after the company bagged an order worth $33 million for an industrial waste water treatment plant in Saudi Arabia. The company will be responsible for engineering and procurement related work.

:star:Tata Motors hits record high on sturdy profit
Shares of Tata Motors hit a record high on Monday, rising as much as 7.2%, after it reported a more than two-fold increase in third-quarter profit, driven by strong sales in its British luxury car unit, Jaguar Land Rover (JLR).

:star:Paytm falls 50% in three days
Shares of Paytm hit a 10% lower circuit, falling 50% in the last three trading sessions. This fall comes amid reports that suggested the RBI was considering cancelling Paytm Payment Bank’s licence.