The Indian equity market is likely to open lower today as SGX Nifty rose fell 201 points to 16,218. Indian market nosedived on Friday with Sensex closing below the 55,000-mark amid a sell-off in global markets. Unabated foreign fund outflows and firm crude oil prices also weighed on sentiment. Sensex ended 866 points lower at 54,835 and Nifty lost 271 points to 16,411 in the last trading session of this week.
Bajaj Finance, Axis Bank, Bajaj Finserv, Nestle, Wipro, HDFC, Infosys, HDFC Bank and UltraTech Cement were the top Sensex losers, falling up to 4.91 per cent.
Tech Mahindra, PowerGrid, ITC, SBI and NTPC were among the top Sensex gainers, rising up to 2.21 percent.
Here are the stocks that are likely to remain in news today.
Reliance Industries: The conglomerate posted a consolidated profit after tax (PAT) at Rs 16,203 crore, up 22.5 per cent in the quarter ended 31 March, 2022 following strong performance across its energy, telecom and retail verticals. The company had posted a net profit of Rs 13,227 crore in the year-ago period.
Campus Activewear : The company will make its market debut today.
HCL Technologies: The IT firm’s UK arm has bought Switzerland-based digital banking and wealth management specialist Confinale AG, for 53 million CHF (Swiss Francs). Tata Power Company: The company posted a 31.4 percent YoY growth in profit at Rs 632.4 crore in Q4 of last fiscal. Revenue from operations rose 15.4 percent to Rs 11,960 crore during the same period.
Tata Steel: The firm will look to grow organically, and it is under no pressure to look at fresh acquisitions during this decade, Chief Executive Officer and Managing Director T V Narendran said. Narendran said that the Jamshedpur-based behemoth will fuel its growth ambitions to more than double its output, relying on organic growth at its existing sites.
Tata Motors: The commercial vehicle industry is expected to grow in double-digits this fiscal, driven by favourable demand conditions amid accelerated economic activities, although high fuel prices and increase in interest rates on vehicle loans are headwinds, according to Tata Motors Executive Director Girish Wagh. The commercial vehicles segment, which saw its peak in 2018-19, with industry volumes of over 10 lakh units, went into a downturn in the following two fiscal years, has begun to pick up momentum from the last financial year.
Go Fashion: The firm which owns the popular women’s wear brand ‘Go Colors’ has logged a 73.2 per cent jump in its profit after tax (PAT) for the quarter ending March 31, 2022. The company reaped Rs 12.3 crore. The city-based company registered a PAT of Rs 7.1 crore during the corresponding quarter previous year. For the financial year ending March 31, 2022, the profit after tax was at Rs 35.6 crore.
Mindtree, L&T Infotech : The L&T Group announced a merger of Mindtree and L&T Infotech. All shareholders of Mindtree will get 73 shares of L&T Infotech for every 100 shares held. Larsen & Toubro will hold 68.73 percent of L&T Infotech after the merger.
DCB Bank: The private sector lender reported a 44.87 per cent rise in its net profit at Rs 113 crore for the quarter ended March 2022. The bank had registered a net profit of Rs 78 crore in the same quarter a year ago. Total income in the March quarter of fiscal year 2021-22 increased to Rs 1,035 crore, as against Rs 967 crore in the same quarter of 2020-21.
