Today’s top morning headlines - 7th February 2024

Good afternoon

Markets are trading in the green, with the NIFTY50 trading above 21,900 as of 1:45 pm. Here are the top stories for the day!

Top gainer: SBIN: 673 ▲ 23 (+3.5%)
Top loser: Infosys: 1,690 ▼ 38 (-2.2%)

:star:Trent soars on strong Q3 results
Shares of the apparel retailer are up more than 8% today. This comes after the company reported a 52% year-on-year rise in its revenue to ₹3,521 crore. In the same period, the company’s profit before tax was up 113% to ₹447 crore.

:star:Paytm shares rise, hits 10% upper circuit
Shares of One 97 Communications, the parent company of Paytm climbed as much as 10% on Wednesday after media reported that the embattled digital payments firm’s CEO had met India’s finance minister and central bank to try to resolve a regulatory crackdown on its payments bank business.

:star:IEX shares tank 5% on market coupling
Shares of the power trading exchange plunged more than 5% today. This comes after CERC said that Grid India will develop software for market coupling for three exchanges. This shadow pilot project will run for the next two months. Experts state that the market coupling could adversely impact IEX’s market share.

:star:Apeejay Surrendra Park Hotels IPO receives strong traction
The ₹920 crore IPO of Apeejay Surrendra Park Hotels has been subscribed 12 times on day 3. Retail investors have flocked towards the public issue with the retail portion being subscribed 20 times.