The Indian market is likely to open higher today as SGX Nifty rose 84 points to 16,105. On Wednesday, Sensex extended its decline for the third straight session, falling over 300 points amid a sell-off in IT stocks. Sensex tanked 303.35 points or 0.56 per cent to end at 53,749.26. Nifty declined 99.35 points or 0.62 per cent to close at 16,025.80.
Asian Paints, TCS, Wipro, Tech Mahindra, Larsen & Toubro, Infosys, State Bank of India, HCL Technologies and M&M were among the top Sensex losers, falling up to 8.04 per cent.
NTPC, Bharti Airtel, HDFC, Kotak Mahindra Bank, Nestle, ICICI Bank and ITC were the top gainers, rising up to 3.84 percent.
Here are the stocks that are likely to remain in news today.
BPCL: The firm reported a 82 per cent decline in net profit in the quarter ended March 2022 as the firm held fuel prices despite rise in cost. Net profit of Rs 2,130.53 crore was reported in the January-March period as compared with Rs 11,940.13 crore. Revenue from operations rose 25 per cent to Rs 1.23 lakh crore on higher oil prices but losses on petrol, diesel and domestic LPG sales dented the financials.
Coal India: Country's dry fuel mining behemoth logged a jump of 45.9 per cent in its consolidated net profit at Rs 6,693 crore in the fourth quarter ended 31 March, 2022. The company had reported a profit of Rs 4,587 crore in the year-ago period. The consolidated revenue from operations increased 22 per cent to Rs 32,707 crore in the quarter under review from Rs 26,700 crore in the same quarter last fiscal.
NHPC: The state-owned firm posted an almost seven per cent rise in its consolidated net profit to Rs 515.90 crore in the March 2022 quarter. The company had reported a consolidated net profit of Rs 482.35 crore in the quarter ended March 2021. Total income in the quarter stood at Rs 2,026.62 crore against Rs 2,100.12 core a year ago.
Max Healthcare Institute: The firm's profit after tax increased by 58 per cent to Rs 172 crore for the fourth quarter ended March 2022. The company had reported a net profit of Rs 109 crore for the January-March quarter of 2020-21 fiscal. Gross revenue rose to Rs 1,298 crore for the period under review as compared with Rs 1,161 crore in the year-ago period.
IndiGo: Hit by Omircon wave of COVID-19, domestic budget carrier Interglobe Aviation Limited (IndiGo) posted a widening of consolidated net loss at Rs 1,681 crore in the quarter ended 31 March, 2022. The aviation company had posted a net loss of Rs 1,159 crore in the year-ago period. The revenue from operations increased 28.8 per cent to Rs 8,020.74 crore in the quarter under review from Rs 6,222.94 crore in the same quarter last fiscal, on strong traffic rebound in the latter half of the quarter.
Infosys: The IT major has tied up with Palo Alto Networks, a global cybersecurity leader, to elevate the security-maturity of large enterprises with mission-critical digital landscapes and to help prevent the threat of cyberattacks on their critical infrastructure.
Bata India: The firm reported over two-fold rise in its consolidated net profit at Rs 62.96 crore in Q4 helped by robust sales. Revenue from operations increased 12.77% to Rs 665.24 crore in the last quarter.
Birlasoft: The company's promoters said that they do not intend to participate in the proposed share buyback programme of the firm. The company had proposed to buy back up to 7,800,000 fully paid shares of Rs 2 each.
Suzlon Energy: Net loss came at Rs 205.52 crore in the March quarter. Total income in the quarter under review rose to Rs 2,478.73 crore from Rs 1,141.15 crore in the same period a year ago.
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