Indian stock market witnessed sharp upside bounce on Wednesday and closed in green territory for second straight session. NSE Nifty ended 197 points higher at 17,463 whereas BSE Sensex shot up 657 points and closed at 58,465 levels, Bank Nifty index also 581 points and ended at 38,610 levels. Anuj Gupta, vice president at IIFL Securities said, “On Wednesday, Dow Jones Futures ended in positive zone for second successive session and SGX Nifty today is around 38 points up at 17,522 levels, which indicates positive opening for the Indian markets.”
The RBI policy decision could be a key driver for the market in the near term as it may impact liquidity and interest rates. Experts believe a 25 bps points hike in reverse repo rate is on the cards. Also Read: RBI Monetary Policy LIVE Updates: Will RBI Hike Reverse Repo Rate and Change Stance?
Here are the stocks to keep a close watch on today:
Tata Power Company
The company reported a sharply higher profit at Rs 551.8 crore in Q3FY22 against Rs 318 crore in Q3FY21, while revenue jumped to Rs 10,913.4 crore from Rs 7,597.9 crore YoY.
Power Grid Corporation of India
The company reported a lower profit at Rs 3,292.9 crore in Q3FY22 against Rs 3,367.7 crore in Q3FY21. Its revenue rose to Rs 10,446.8 crore from Rs 10,142.4 crore YoY.
The company reported lower profit at Rs 280.9 crore in Q4CY21 against Rs 472.4 crore in Q4CY20, revenue rose to Rs 4,225.8 crore from Rs 4,144.7 crore YoY. The company, which follows the January-December financial year cycle, had posted a net profit of Rs 472.44 crore during the corresponding quarter last year, said ACC, a subsidiary of Swiss building material major Holcim group (earlier LafargeHolcim), in a BSE filing.
FSN E-commerce Ventures, which operates under the Nykaa brand, reported about a 57 per cent decline in consolidated profit after tax (PAT) to Rs 29 crore in the third quarter ended December 31, 2021. The company had registered a PAT of Rs 68.9 crore.
Steel Authority of India Ltd (SAIL) on Wednesday reported a 4.1 per cent rise in consolidated net profit at Rs 1,528.54 crore for the October-December period of the ongoing fiscal, helped by higher income. The company had posted a consolidated net profit of Rs 1,468.20 crore in the year-ago period, SAIL said in a filing to BSE.
Indiabulls Housing Finance
Indiabulls Housing Finance Company’s profit after tax (PAT) dropped by 8 per cent to Rs 303 crore in the quarter ended in December due to slower loan growth. It reported a PAT of Rs 329 crore in the year-ago period.
GMR Infrastructure Ltd on Wednesday reported narrowing of its consolidated net loss to Rs 515.34 crore for the quarter ended in December 2021 against that of Rs 1,120.51 crore in the year-ago period, according to a regulatory filing. The consolidated income from operations in the quarter under review rose to Rs 1,437.84 crore from Rs 963 crore in the same period a year ago.
Aurobindo Pharma on Wednesday said its consolidated net profit declined by 22.3 per cent to Rs 604.29 crore for the third quarter ended December 31, 2021, hit by high input and freight costs. The Hyderabad-based drug maker had reported a consolidated net profit of Rs 777.3 crore in the same period of previous fiscal.
Petronet LNG Ltd, India’s largest liquefied natural gas importer, on Wednesday reported its highest quarterly net profit of Rs 1,159.46 crore as a surge in prices boosted margins, the firm said in a stock exchange filing.
Hero MotoCorp, Mahindra & Mahindra, Hindalco Industries, Zomato, ABB India, Aegis Logistics, Amara Raja Batteries, Alembic Pharmaceuticals, BEML, Bharat Forge, Computer Age Management Services, Cummins India, Gujarat Pipavav Port, Gujarat State Petronet, Hindustan Aeronautics, IRB Infrastructure Developers, Indian Railway Finance Corporation, Krishna Institute of Medical Sciences, Dr Lal PathLabs, Mindspace Business Parks REIT, MRF, MTAR Technologies, Novartis India, Page Industries, Quess Corp, Reliance Power, SJVN, Speciality Restaurants, Strides Pharma Science, Sundram Fasteners, Sunteck Realty, Sun TV Network, Tata Chemicals, Trent, Titagarh Wagons, Welspun Corp, Whirlpool of India, West Coast Paper Mills, and Zee Media Corporation will release quarterly earnings on February 10.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Read More: Hero MotoCorp, Nykaa, Zomato, and Others