After opening the day marginally low, the Indian benchmark continued its downtrend as the session progressed, eventually closing more than 200 points lower.Benchmark equity indices, BSE Sensex and NSE Nifty50, witnessed downward pressure on Friday, after the Reserve Bank of India (RBI) governor, on expected lines, announced a 0.25% rate. The central banker, however, left the policy stance unchanged.At the closing bell, the BSE Sensex closed lower by 198 points (down 0.3%).Meanwhile, the NSE Nifty closed 43 points lower (down 0.2%).Tata Steel, Trent, and Hindalco are among the top gainers today.ONGC, ITC, and SBI on the other hand, were among the top losers today.The GIFT Nifty was trading at 23,608, down by 85 points at the time of writing.The BSE MidCap index ended marginally higher and the BSE SmallCap index ended 0.7% lowerSectoral indices were trading mixed with stocks in the metal sector and telecom sector witnessing buying. Meanwhile, the stocks inthe  energy sector and FMCG sector witnessing selling pressure.The rupee is trading at 87.44 against the US$.Gold prices for the latest contract on MCX are trading 0.3% higher at Rs 84,730 per 10 grams.Meanwhile, silver prices were trading 0.3% higher at Rs 95,850 per 1 kg.
 Why Mazagon Dock Shipbuilder’s Share Price is RisingIn news from the defence sector, shares of Mazagon Dock Shipbuilders surged over 3% on Friday following a strong financial performance, with consolidated net profit rising 29% year-on-year to Rs 8.1 bn in Q3 FY24, compared to Rs 6.3 bn in the same quarter last year.The defence PSU, known for manufacturing warships and submarines, benefitted from robust order execution and enhanced operational efficiency. Revenue grew 33% to Rs 31.4 bn, up from Rs 23.6 bn in Q3 FY23, reflecting steady project execution.On the operational front, EBITDA witnessed a significant 51.4% increase, reaching Rs 8.2 bn from Rs 5.4 bn a year ago. The EBITDA margin improved to 26%, up from 23% in the previous year, driven by better efficiency and cost management.Mazagon Dock’s share price has seen significant growth over the past year, increasing by an impressive 106%, making it among fastest growing defence stocks to add to your watchlist.BSE Telecom Index Rallies 3%Moving on to news from the telecom sector, the BSE Telecommunication Index surged 3% on February 7, driven by strong gains in Bharti Hexacom and Bharti Airtel. Bharti Hexacom led the rally, rising over 7% intraday, while Bharti Airtel gained nearly 4% intraday.Indus Towers also advanced by 3%, followed by Tata Communications and HFCL, which climbed around 2%. Other telecom stocks, including Suyog, Tejas Networks, Vindhya Telelinks, and Optiemus Infracom, also witnessed an uptick in trading volumes.The surge comes a day after Indus Towers announced the acquisition of mobile sites from Bharti Airtel and Bharti Hexacom for Rs 33.1 bn through a slump sale. The deal includes approximately 16,100 telecom towers.Meanwhile, telecom operators are gearing up for upcoming payments related to deferred spectrum costs and adjusted gross revenue (AGR) dues, set to resume after the moratorium ends in September 2025.FY25 revenues have been boosted by spectrum allocations to BSNL and the Railways, substantial advance payments from Bharti Airtel for past auctions, and proceeds from the second 5G spectrum sale, which contributed Rs 113.4 bn to government revenues.
 Infosys Lays Off 400 TraineesMoving on to news from the IT sector, software giant Infosys is in the process of terminating around 400 trainees at its Mysuru campus after they failed evaluation tests in three consecutive attempts. This accounts for nearly half of the trainees onboarded in October 2024.The affected trainees had already faced a prolonged wait of over two years before joining, as IT firms, including Infosys, slowed hiring due to macroeconomic challenges and reduced client spending.Reports also surfaced about heightened security measures at the campus, with claims that bouncers and security personnel were deployed to prevent trainees from carrying mobile phones. However, Infosys denied these allegations.Meanwhile, the Nascent Information Technology Employees Senate (NITES) has announced plans to file an official complaint with the Ministry of Labour & Employment, urging immediate intervention and action against Infosys.
 Ramco Cement shares fall post-weak Q3 ResultsMoving on to news from the cement sector, Ramco Cement shares traded lower on February 7 following subdued industry demand and a weak Q3FY25 earnings report.The company reported revenue of Rs 19.8 bn for Q3FY25, reflecting a 6.1% year-on-year decline, primarily due to weak demand and pricing pressures in the cement sector.Operational performance also took a hit, with EBITDA plunging 29.3% YoY to Rs 2.8 bn, compared to Rs 3.9 bn in Q3FY24. The EBITDA margin shrank to 14.4%, down from 19% in the same period last year, highlighting the impact of cost pressures and subdued market conditions.More By This Author:Sensex Today Ends 213 Points Lower; Nifty Below 23,650Sensex Today Trades Marginally Lower; Nifty Below 23,700Sensex Today Ends 313 Points Lower; Nifty Below 23,700