On Monday, February 3, the Indian stock market saw a negative trend, with major equity indices declining by nearly 1% during late morning trade. At 12:30 PM, the S&P BSE SENSEX was down by 509.58 points, or 0.66%, at 76,996.38, while the NSE NIFTY50 fell by 191.80 points, or 0.82%, to 23,290.35. Despite the overall decline, several stocks saw significant movements, with some buzzing on the back of positive news or announcements. Here’s a roundup of key stocks in focus during today’s trade.
Metro Brands
Metro Brands, a leading footwear brand, witnessed a sharp surge of over 6.5% following the announcement of a focus product scheme for the footwear and leather sector in the Union Budget. The stock was trading at ₹1,319.05, up by 6.65% on the BSE. Finance Minister Nirmala Sitharaman stated that the scheme would focus on improving the productivity, quality, and competitiveness of India’s footwear and leather industry, including support for non-leather footwear and machinery.
Eicher Motors
Eicher Motors saw a boost of 2.54% in its stock price, trading at ₹5,524.90 on BSE. The increase came after the auto giant reported a 20% growth in total motorcycle sales in January, rising to 91,132 units from 76,187 units last year. Royal Enfield, the company’s flagship brand, saw a 6% growth in sales, and international sales surged by 79%, indicating strong demand for their motorcycles.
Maruti Suzuki
Shares of Maruti Suzuki India rallied by 3.95% to ₹13,431.60 per share in the early trade. The rally came after the company posted strong sales figures for January 2025. The company sold 212,251 units in January 2025, up 6% from the same month last year. Maruti’s strong performance in the sales of various car segments fueled investor confidence.
ITC Hotels
Shares of ITC Hotels rose by 4.09%, trading at ₹179.45, on the back of announcements in the Union Budget related to tourism. Finance Minister Sitharaman revealed that India’s top 50 tourist destinations would be developed in collaboration with state governments through a challenge mode. This move is expected to benefit hospitality companies like ITC Hotels, which are likely to see increased demand.
Bajaj Finance
Shares of Bajaj Finance saw an uptick of 2.70% to ₹8,208.85 during the intraday trade. Analysts revised their outlook for the company, which boosted investor confidence. Bajaj Finance’s steady performance and growth potential have continued to attract attention, despite broader market volatility.
Larsen & Toubro (L&T)
L&T shares were under pressure, declining by 4.40% to ₹3,295.60 per share. The negative sentiment was driven by analysts downgrading the company’s rating post the Union Budget. The shift in government focus from capital expenditure (Capex)-related growth to consumption-driven growth led to a negative outlook for infrastructure and construction companies like L&T.
Anant Raj
Shares of Anant Raj, a real estate and data center infrastructure company, dropped by 9.43% to ₹577.50 despite posting strong financial results. The company reported a 55% year-on-year growth in net profit for Q3 FY25, reaching ₹110 crore, and a 36.2% rise in revenue. However, the results failed to cheer the stock, which tumbled during the intraday trade.
RITES Ltd
Shares of RITES Ltd, an engineering service provider, hit a 52-week low, plunging by 8.30% to ₹233.55. The decline was a result of the Union Budget failing to offer any fresh incentives or major plans for the railway sector. The railway allocation remained at ₹2.55 lakh crore, which was perceived as insufficient by analysts and market participants.
Coal India
Shares of Coal India Ltd (CIL) dropped by 3.66% to ₹371.25 per share after the company reported its first monthly production decline of the current fiscal. Coal production in January fell by 0.8% year-on-year to 77.8 million tonnes, compared to 78.4 million tonnes last year. This negative news, coupled with broader market declines, contributed to the stock’s downtrend.
HUDCO
Shares of Housing and Urban Development Corporation (HUDCO) saw a sharp decline of 8.82%, trading at ₹198 per share. The company’s stock was among the top losers on the equity index, largely due to the lack of fresh budgetary support for the housing and urban development sectors.
The broader market sentiment was subdued as the benchmark indices were trading in the red, reflecting investor caution. Factors such as global market trends, sectoral performance, and the Union Budget’s impact on various industries are shaping the ongoing market volatility. While some stocks like Metro Brands, Eicher Motors, and Maruti Suzuki were on the rise, others such as L&T, RITES, and Coal India were facing pressure due to sector-specific concerns.
As the market continues to react to the Union Budget and other global factors, investors are advised to stay cautious and keep an eye on emerging trends and company performance updates.
