The Indian equity market is likely to open lower today as SGX Nifty fell 106.75 points to 16,995.The stock market extended losses for the fifth consecutive session on January 24 amid negative global cues. Sensex closed 1,545 points lower at 57,491 and Nifty declined 468 points to 17,149.
All 30 Sensex components ended in the red. Tata Steel, Bajaj Finance, Wipro and Tech Mahindra were the top Sensex losers, falling up to 5.98 per cent.
Here's a look at stocks that are likely to remain in news today.
Shares of firms such as Maruti Suzuki, Pidilite, SRF, Cipla, United Spirits, Macrotech Developers, Torrent Pharma, APL Apollo Tubes, Federal Bank, Brightcom Group, Aditya Birla Sun Life AMC, Finolex Industries, Can Fin Homes, Symphony and Indiabulls Real Estate are in focus as they announce their December quarter earnings today.
Axis Bank: The lender reported a 224 per cent year-on-year (YoY) rise in its net profit to Rs 3,614 crore for the October-December quarter. On a quarter-on-quarter (QoQ) basis, the private sector lender's profit registered a 15 per cent growth.
The bank's net interest income (NII) rose 17 per cent YoY and 10 per cent QoQ to Rs 8,653 crore, while net interest margin expanded by 14 basis points QoQ and 2 basis points YoY to 3.53 per cent.
Hero MotoCorp: The board of the two-wheeler maker said it has cleared investment of up to Rs 700 crore in Hero FinCorp. The investment is subject to execution of definitive documents and completion of certain conditions customary to a transaction of this nature.
Vodafone Idea: The loss-making telco is likely to raise rates this year, according to reports.
Shriram Transport Finance Company: The NBFC reported a 6.47 per cent fall in standalone profit after tax at Rs 680.62 crore for the quarter ended December 2021. The company had reported a profit after tax of Rs 727.72 crore in the same period of the previous year. Net interest income increased rose 11.16 per cent.
SBI Cards & Payment Services: The firm reported a net profit of Rs 386 crore, up 83.8 per cent in the quarter ended 31 December, 2021. The SBI-promoted card issuance company posted a net profit of Rs 210 crore in the year-ago period. The company's December-quarter total revenue from operations increased 20 per cent to Rs 2,889 crore versus Rs 2,408 crore year ago, whereas its total income increased 24 per cent YoY to Rs 3,140 crore.
Apollo Hospitals: The healthcare services player has joined hands with US-based Cleveland Clinic to offer international second opinion services to patients.
Burger King India: The company posted a loss of Rs 15.15 crore in Q3FY22 against a loss of Rs 29 crore in Q3FY21. Revenue jumped to Rs 279.89 crore from Rs 163.19 crore YoY.
Sudarshan Chemical Industries: The company reported a profit of Rs 36.38 crore in Q3 against Rs 39.16 crore in Q3 of FY21. However, revenue jumped to Rs 601.75 crore in last quarter from Rs 506.37 crore YoY.
Steel Strips Wheels: The company reported a 64.05 percent YoY rise in total revenue to Rs 860.52 crore for the December 2021 quarter against Rs 524.54 crore for the December 2020 quarter.
Aditya Birla Capital : Officials of the company will meet investors and analysts on February 4 to discuss financial results for the December quarter.
Indian Energy Exchange: The utility exchange posted a 39 per cent rise in consolidated net profit to Rs 80.73 crore in the December quarter on higher revenues. The company had reported a net profit of Rs 58.14 crore in the quarter ended December 31, 2020.
Zensar Technologies: The IT consulting player said its net profit declined 7.8 per cent to Rs 91 crore for the December 2021 quarter. It had posted a net profit of Rs 98.7 crore in the year-ago period.
Deepak Nitrite: The chemicals firm reported a 12 per cent rise in net profit in Q3. Net profit came at Rs 242.46 crore in Q3 against Rs 216.56 crore in the year-ago quarter.
Ramco Cements: The cement player reported a 59 per cent fall in its standalone net profit in Q3 to Rs 83 crore on account of weak demand. The sales from products rose 16% to Rs 1,541 crore.
Supreme Industries: The plastic products maker reported a 21.31 per cent fall in consolidated profit to Rs 245.72 crore for the quarter ended December 2021 compared to a net profit of Rs 312.28 crore during the October-December quarter of the previous fiscal.
Meghmani Finechem: The speciality chemical player reported a nearly three-fold rise in standalone net profit to Rs 69.68 crore in Q3 against a net profit of Rs 24.50 crore in the same quarter of previous fiscal.
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