Stocks in news: Bharti Airtel, Tata Steel, SBI, YES Bank and more

The Indian equity market is likely to open lower today as SGX Nifty fell 67 points to 17,422. The benchmark indices ended lower on February 4, tracking weakness in banking and energy stocks amid a mixed trend overseas. The 30-share BSE index ended 143.20 points lower at 58,644.82. Nifty shed 43.90 points or 0.25 per cent to close at 17,516.30.

SBI was the top Sensex loser, shedding 1.92 per cent, followed by M&M, NTPC, Kotak Mahindra Bank and Bajaj Finserv.

Here's a look at stocks that are likely to remain in news today.

Bharti Airtel: The telecom operator Bharti Airtel plans to spend about Rs 1.17 lakh crore through business transactions with its subsidiaries like Indus Towers, Nxtra and Bharti Hexacom, according to a regulatory filing.

The company will hold an extraordinary general meeting on February 26 to also seek their approval for issuing shares to Google for its about Rs 7,500 crore investment in the company to buy 1.28 per cent stake.

Tata Steel: The Tata Group firm reported a surge of 139 per cent year-on-year in its consolidated net profit at Rs 9,572 crore for the quarter ended December 31, 2021. The firm had posted a net profit of Rs 4,011 crore in the year-ago period.

Sequentially, the steel maker had reported a profit of Rs 12,548 crore in the September quarter.

SBI: The lender reported a 62.27 per cent year-on-year (YoY) rise in its net profit to Rs 8,431.9 crore in Q3.  The net interest income (NII) of India's largest public-sector lender rose 6.48 per cent on-year to 30,687 crore from Rs 28,820 crore. Interest earned for the quarter jumped 4.41 per cent to Rs 69,678.12 crore from Rs 66,734.50 crore during the same quarter last year.

YES Bank: Private equity group Advent International is evaluating a Rs 7,500 crore ($1.00 billion) investment in YES Bank to further capitalise it, according to reports.

One 97 Communications:  Fintech major Paytm's parent One 97 Communications reported widening of consolidated net loss to Rs 778.5 crore for the quarter ended December 31, 2021. The firm had posted a loss of Rs 481.70 crore in the September quarter and Rs 535 crore in the year-ago period.

City Union Bank: The lender reported a 15 percent rise in net profit at Rs 196 crore for the quarter ended December 2021 on lower provisioning requirements. The private sector lender had posted a net profit of Rs 170 crore in the same quarter a year ago. Total income, however, was down at Rs 1,195.24 crore, as against Rs 1,267.80 crore in Q3 FY21.

Minda Corporation: The auto components maker reported a 41 per cent growth in consolidated profit after tax (PAT) at Rs 69.9 crore for the December quarter on the back of exceptional gain of Rs 32.74 crore due to revaluation of its stake in Minda Stoneridge.

CMS Info Systems: The company reported a profit of Rs 60.24 crore in Q3FY22 against Rs 40.7 crore in Q3FY21 and revenue rose to Rs 403.65 crore from Rs 332.53 crore YoY.

InterGlobe Aviation: Consolidated profit after tax (PAT) came at Rs 129.79 crore in Q3 compared to a loss of Rs 620 crore  in the year ago quarter and a much bigger loss of Rs 1,435 crore in the sequential September 21 quarter.

Shree Cement: The company posted profit at Rs 482.70 crore in Q3 against Rs 631.58 crore in Q3FY21. However, revenue rose to Rs 3,637.11 crore from Rs 3,557.21 crore YoY.