The Indian equity market is likely to open lower today as SGX Nifty fell 52 points to 17,922. The stock market ended lower for the second consecutive session on Wednesday amid negative global cues. Sensex closed 656 points lower at 60,098 and Nifty fell 174 points to 17,938. Infosys, Asian Paints, HUL, Nestle India and Bajaj Finance were the top Sensex losers, falling up to 2.77%.
Axis Bank, HDFC Bank, ICICI Bank, and Kotak Bank were the top Sensex gainers, rising up to 1.83%.
Here’s a look at stocks that are likely to remain in news today.
Shares of companies such as Hindustan Unilever, Biocon, Asian Paints, Bajaj Finserv, Havells India, PNB Housing Finance, Bajaj Holdings & Investment, Lyka Labs, Bank of Maharashtra, Mphasis, and Reliance Industrial Infrastructure will be watched out for as they announce their December quarter earnings today.
Bajaj Auto: India’s leading two-wheeler company Bajaj Auto on Wednesday reported a 21.9 per cent year-on-year decline in its standalone net profit at Rs 1,214 crore for the quarter ended 31 December, 2021. The automaker had posted a net profit of Rs 1,556 crore in the year-ago period. Bajaj Auto’s total revenue from operations rose marginally to Rs 9,022 crore versus Rs 8,910 crore year ago.
Tata Communications: The firm reported a consolidated net profit of Rs 395 crore, up 27.8 per cent year-on-year, for the quarter ending 31 December, 2021. The company had posted a net profit of Rs 309 crore in the year-ago period. The company’s consolidated total income from operations stood at Rs 4,204 crore versus Rs 4,231 crore year ago.
SBI: The government on Wednesday approved sanction of Rs 973.74 crore to State Bank of India (SBI) as reimbursement related to loan moratorium that was implemented in 2020 amid the pandemic. Information and Broadcasting Minister Anurag Singh Thakur said the Budget had made provision of Rs 5,500 crore for the scheme of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts. Of this, Rs 4,626 crore payment was made in 2020-21, he said, adding, an additional claim of Rs 1,846 crore is pending.
L&T Infotech: The firm posted a consolidated net profit of Rs 612 crore for the quarter ended December 31, 2021, up 18% from Rs 518 crore reported in the year-ago period. Revenue from operations rose 31% to Rs 4,137 crore for the December quarter as against Rs 3,152 crore in the last year period.
Rallis India: The subsidiary of Tata Chemicals reported a 13.3 per cent fall in its consolidated net profit to Rs 39.56 crore for the third quarter ended December 2021 against a net profit of Rs 45.64 crore in the October-December quarter last fiscal. Revenue from operations during October-December 2021 jumped 10.1 per cent to Rs 628.08 crore, against Rs 570.47 crore in the year-ago period.
Vedanta: Leading global bank Citi Bank sold Vedanta shares worth Rs 1,200 crore via an open market transaction. Over 3.2 crore shares were sold for an average price of Rs 314.65 apiece, amounting to Rs 1,204.48 crore worth deal, BSE bulk data show.
Coal India: The state-owned miner’s supplies via e-auction have risen 31% so far in the current financial year. The company’s actual dispatches under five e-auction windows were at 77.4 million tonne compared with 59 million tonne a year ago.
JSW Energy: The company reported over two-fold jump in its consolidated net profit to Rs 324 crore in December 2021 quarter on the back of higher revenues. The same stood at Rs 124 crore in the last year period.