The Indian equity market is likely to open higher today as SGX Nifty rose 75 points to 17,332. On Tuesday, Sensex closed 187 points higher at 57,808 and Nifty rose 53 points to 17,266. Tata Steel was the top Sensex gainer, rising 3.10 per cent, followed by Bajaj Finance, Bajaj Finserv, Reliance Industries, Asian Paints and Titan. PowerGrid, TCS, Tech Mahindra and HDFC twins were among the top Sensex losers, shedding up to 1.66 per cent. Of 30 Sensex stocks, 19 closed higher.
Here's a look at stocks that are likely to remain in news today.
Shares of Abbott India, ACC, Berger Paints India, Bosch, GMR Infrastructure, HEG, FSN E-Commerce Ventures (Nykaa), Power Grid Corporation of India, Prestige Estates Projects, SAIL and Tata Power are in focus as these companies will announce their quarterly earnings today.
IRCTC: Indian Railway Catering and Tourism Corporation (IRCTC) reported a 168 per cent jump in net profit at Rs 209 crore for the quarter ending 31 December 2021. The catering and tourism arm of Indian Railways reported a net profit of Rs 78 crore in the year-ago period, mostly due to Covid-19 woes.
Bharti Airtel: The telco reported a 2.8 per cent fall in its consolidated net profit at Rs 830 crore in the quarter ending 31 December, 2021. The telco had reported a net profit of Rs 854 crore in the year-ago period. The board also approved raising up to Rs 7,500 crore through debt instruments.
Bata India: The footwear company logged a profit of Rs 72.32 crore in Q3FY22 against Rs 26.4 crore in Q3FY21. Revenue surged to Rs 841.3 crore from Rs 615.6 crore YoY.
Vedanta: The company has completed a reorganisation review and concluded that the current structure is optimal. It also announced the capital allocation policy.
Latent View Analytics: The company reported a profit of Rs 49.92 crore in Q3FY22 against a profit of Rs 22.45 crore in Q3FY21. Revenue rose to Rs 107.75 crore from Rs 78.25 crore YoY.
Lupin: The company has received approval from US FDA for the Arformoterol Tartrate inhalation solution.
ICICI Bank: The private lender will raise stake in Fino PayTech to 7.4% by converting 4,000,000 convertible warrants of the firm held by the bank into equity.
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