Top gainer: Britannia 4,927 ▲ 56 (+1.16%)
Top loser: Trent 5,206 ▼ 247 (-4.54%)
Shares of Life Insurance Corporation of India (LIC) were trading in the negative territory on Monday
Shares of Life Insurance Corporation of India (LIC) were trading in the negative territory on Monday after the state-owned insurer posted financial results for the third quarter of the current fiscal year. The stock was down 0.81% to ₹809.35 apiece on BSE at 11:30 am. LIC posted a 17% increase in its profit after tax (PAT) to ₹11,056 crore in the latest December quarter, compared to ₹9,444 crore a year back. However, net premium income, or NPI, stood at ₹1,06,891 crore in the quarter under review, down 8.65% from ₹1,17,017 crore in the corresponding period a year ago.
Shares of MTNL surged as much as 9.7% to ₹57.50 apiece on Monday
Shares of Mahanagar Telephone Nigam Limited (MTNL), the telecom PSU, surged as much as 9.7% to ₹57.50 apiece on Monday, February 10, amid news reports that the Union Cabinet has approved a financial package of approximately ₹6,000 crore to accelerate the 4G network expansion of Bharat Sanchar Nigam Limited (BSNL) and MTNL. This funding is expected to support both state-owned telecom companies in strengthening and expanding their network infrastructure, according to a report by CNBC Awaaz. As per the report, the approved funds will be used to enhance BSNL and MTNL’s 4G network coverage across the country.
Shares of Swiggy continued falling for the fifth consecutive session
Shares of food delivery aggregator Swiggy continued falling for the fifth consecutive session after the company reported net loss of ₹799 crore for the December quarter of the current fiscal (Q3 FY25), up from ₹574 crore posted in the year-ago quarter.