The Indian equity market is likely to open lower today as SGX Nifty fell 109.75 points to 17,554. The Indian market ended lower for the fourth consecutive session January 21 amid negative global cues. Sensex closed 427 points lower at 59,034 and Nifty fell 139 points to 17,617.
Bajaj Finserv, Tech Mahindra and Tata Steel were the top Sensex losers, falling up to 5.37%. HUL, Maruti and HDFC were the top Sensex gainers, rising up to 2.68%.
Here's a look at stocks that are likely to remain in news today.
Shares of firms such as Axis Bank, Apollo Pipes, HDFC AMC, Burger King India, Deepak Nitrite, Hindustan Fluorocarbons, IEX, Mahindra EPC Irrigation, SBI Card, Reliance Home Finance, and Shriram Transport Finance are in focus as they announce their December quarter earnings today.
Reliance Industries: The energy-to-telecom behemoth reported a 41.58 per cent year-on-year (YoY) growth in consolidated net profit (attributable to owners of the company) at Rs 18,549 crore. The company had posted a profit of Rs 13101 crore in the same period last year.
Vodafone Idea: Telecom major Vodafone Idea reported a consolidated net loss of Rs 7,231 crore in the quarter ended 31 December, 2021. The telco had reported a net loss of Rs 4,532 crore in the year-ago period. The company had posted a net loss of Rs 7,132 crore in the previous quarter (Q2FY22).
ICICI Bank: Private sector lender ICICI Bank reported a 25 per cent year-on-year (YoY) rise in its net profit for October-December quarter at Rs 6,194 crore. The bank had reported a profit of Rs 5,511 crore in the preceding July-September quarter. Net interest income (NII) grew 23 per cent YoY to Rs 12,236 crore during the quarter under review.
Bandhan Bank: The lender's net profit grew 35.7 per cent year-on-year in Q3 FY22 to Rs 859.0 crore from Rs 632.6 crore in Q3 FY21. Its net interest income (NII) grew by 2.6 per cent to Rs 2,124.7 crore as against Rs 2,071.7 crore in the corresponding quarter of the previous year.
YES Bank: The private sector lender posted a 77% year-on-year (YoY) jump in net profit at Rs 266.43 crore in the December quarter (Q3FY22) as against a profit of Rs 151 crore in the corresponding quarter last year. The company's profit spiked in Q3, beating estimates, led by a dip in provisions which plunged 82.1% on-year to Rs 375 crore compared to Rs 2,089 crore in the year-ago quarter.
IDBI Bank: Life Insurance Corporation (LIC)-promoted IDBI Bank reported a 53 per cent jump in standalone net profit at Rs 578 crore for the third quarter ended December against a standalone net profit of Rs 378 crore in the October-December quarter of the previous year.
SBI Life: SBI Life Insurance reported a 56% rise in net profit to Rs 364 crore in Q3 against Rs 233 crore in the same quarter of the previous fiscal. Total income declined 23% to Rs 20,458 crore against Rs 26,551 crore in last year period.
JSW Steel: JSW Steel reported a 69 per cent year-on-year (YoY) rise in consolidated net profit at Rs 4,516 crore in the quarter ended 31 December, 2021. The company had posted a profit of Rs 2,669 crore in the year-ago period. The company's revenue from operations rose 74 per cent to Rs 38,071 crore during the quarter in review as compared to Rs 21,859 crore in the same quarter last fiscal.
Tanla Platforms: The company's gross profit rose 62 per cent year-over-year to Rs 261 crore. Revenue rose 35 per cent year-over-year to Rs 884.9 crore.
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