The Indian equity market is likely to open lower today as SGX Nifty fell 28 points to 18,085. Market ended in the red in the previous session amid negative global cues. Sensex closed 554 points lower at 60,754 and Nifty fell 195 points to 18,113. Maruti, UltraTech Cement, Tech Mahindra and HCL Tech were the top Sensex losers, falling up to 4.05%.
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.
Tata Elxsi: The design-led technology services provider reported a 43.5 per cent year-on-year (YoY) rise in its net profit for Q3 at Rs 151 crore. On a quarter-on-quarter (QoQ) basis, profit was higher by 20.4 per cent. Revenue from operations grew 33.2 per cent YoY and 6.7 per cent QoQ to Rs 635.4 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 14.8 per cent QoQ and 46.8 per cent YoY to Rs 210.8 crore.
Bajaj Finance: The NBFC reported a consolidated net profit of Rs 2,125.29 crore, up 85% for the quarter ended 31 December, 2021 against net profit of Rs 1145.98 crore in the year-ago period. Net Interest Income (NII) climbed 40% to Rs 6,000 crore from Rs Rs 4,296 crore in the corresponding period last fiscal. Interest income reversal for the quarter was Rs 241 crore as compared to Rs 450 crore in Q3FY21.
L&T Tech: L&T Technology Services reported a 33.7 per cent year-on-year (YoY) growth in consolidated net profit for October-December quarter at Rs 248.8 crore. On a quarter-on-quarter (QoQ) basis, profit was up 8.2 per cent. Revenue rose 20.5 per cent YoY and 5 per cent QoQ to Rs 1,687.5 crore during the quarter under review.
Reliance Industries: The retail unit of Reliance Industries, Reliance Retail Ventures Ltd, has bought a 54% stake in robotics company Addverb Technologies for $132 million. In a separate development, Reliance Jio has added 20 lakh mobile subscribers in November, taking the total base to 42.8 crore at the end of the month.
Bharti Airtel: The telco has gained 13 lakh subscribers in November and its total customer base stood at 35.5 crore.
ICICI Prudential Life Insurance: The private insurer reported a marginal two per cent year-on-year growth in its net profit to Rs 311 crore for the December 2021 quarter, on higher sales of policies. The company reported net profit of Rs 306 crore in year-ago period.
Just Dial: The firm's consolidated net profit declined by 61.2 per cent to Rs 19.4 crore for the quarter ended in December 2021 against net profit of Rs 49.9 crore in the year-ago period. Net revenue from operations dipped 6.2 per cent to Rs 158.89 crore in the October-December 2021 quarter from Rs 169.54 crore in the year-ago period.
EKI Energy Services: The carbon credits firm reported a net profit of Rs 161.21 crore for the December 2021 quarter. The company reported net profit of Rs 81.25 crore for the quarter ending September 30, 2021.
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today