Nifty Trader - V2R Ventures
February 7, 2025 at 09:30 AM
📊 *Market Highlights – February 7, 2025*
📉 *Sensex Falls 500 Points, Nifty Below 23,500*
Markets dropped after the RBI’s 25 bps rate cut failed to boost sentiment. Nifty Bank fell 0.6%, led by ICICI Bank and SBI, while telecom, metals, and auto stocks gained.
💻 *Infosys Lays Off 400 Trainees in Mysuru*
Infosys terminated 400 trainees after failing tests thrice. Security was deployed to prevent phone use. The layoffs follow a 2.5-year hiring delay, raising concerns.
🏦 *Banking Stocks Slide as RBI Disappoints*
Despite a 25 bps repo rate cut, banking stocks fell due to the lack of liquidity measures. ICICI Bank and SBI led the decline.
🚙 *M&M Q3 Profit Rises 19% to ₹2,964 Cr*
M&M’s net profit jumped 19% to ₹2,964 crore, driven by SUV and tractor demand. Revenue rose 20% YoY to ₹30,538 crore, lifting M&M shares by 2%.
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