Domestic equity indices ended the session with big cuts on Wednesday as negative news flow at both domestic and global levels triggered the sell-off amid F&O expiry of January series contracts. Sensex plunged 773.69 points or 1.27 per cent to 60,205.06, whereas NSE’s Nifty50 Index settled at 17,891.95, falling 226.35 points or 1.25 per cent.
Here’s a look at stocks that are likely to remain in news today.
LTIMindtree: The company has joined hands with Duck Creek Technologies and Microsoft to build solutions for the insurance sector to help them migrate their on-premises systems onto cloud.
Tata Motors : The automaker reported a consolidated net profit of Rs 2,958 crore for the quarter ending December 31, 2022 as against consolidated net loss of Rs 1,516 crore in the year-ago period. The parent of Jaguar Land Rover reported its first quarterly profit in two years on rising demand for passenger cars as well as medium and heavy commercial vehicles.
Tata Elxsi: The company’s net profit for the December quarter climbed 29% on year to Rs 195 crore. Revenue from operations increased 29% to Rs 820 crore.
Blue Dart Express: Net profit for the December quarter fell 29% on year to Rs 87 crore. Revenue from operations increased 7% to Rs 1,337 crore.
CEAT: The company reported a consolidated net profit of Rs 35.3 crore for the December quarter, compared with a loss of Rs 20 crore a year ago. Revenue rose 13% on year to Rs 2,727 crore.
Vedanta: The board of directors will meet today to consider and approve the earnings from the quarter and nine months ended December.
Bajaj Finance: The NBFC major’s board will meet to consider and approve earnings for the quarter ended December.
Adani Enterprises: The company’s Rs 20,000 crore follow-on public offer (FPO) will open for subscription today. The company raised close to Rs 6,000 crore from over 30 institutional investors.
Bajaj Auto: Two- and three-wheeler maker on Wednesday reported 23% rise in standalone net profit at Rs 1,491 crore for the quarter ended December 31, 2022 as strong domestic demand and an increase in prices of its motorcycles and scooters made up for weak exports. It reported net profit of Rs 1,214 crore in the year-ago period.
Dr Reddy’s Laboratories: The drugmaker reported a 77% on-year rise in December quarter net profit to Rs 1,247 crore. Revenue jumped 27% YoY higher to Rs 6,770 crore. The company’s gross margin rose to 59.2% up from 53.8% in the year-ago period.
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