Stocks to focus on: The January Nifty 50 futures contract on the Singapore Exchange signals a positive start for domestic equities. The contract traded at 18,221 points, up 74.5 points or 0.41% from the previous session.
Volatility ahead of contract expiration in January is likely in the domestic market. Additionally, stock-specific action will be seen as a number of companies will detail earnings.
Earnings today: Apollo Pipes, Aurionpro Solutions, CarTrade Tech, CG Power and Industrial Solutions, Chalet Hotels, Elecon Engineering, Gateway Distriparks, Geojit Financial Services, Granules India, HDFC AMC, Indoco Remedies, Indus Towers, Latent View Analytics, Macrotech Developers, Maruti Suzuki, Mor-tek Realty, Nazara Technologies, Parag Milk Foods, Pidilite Industries, PNB Housing Finance, Punjab Chemicals, Quick Heal Technologies, Sasken Technologies, SBI Card, Sharda Corpchem, Sona BLW, Sonata Software, South Indian Bank, Strides Pharma, Supreme Industries , Tata Coffee, Tatva Chintan Pharma, Triveni Engineering, TVS Motor Company, UCO Bank, United Spirits and Vaibhav Global were among the prominent companies reporting December quarterly results on Tuesday.
Maruti Suzuki: According to analysts, the auto major may see a sequential decline in net profit and revenue due to moderation in sales volume. The net profit could range from Rs 1,794.40 crore to Rs 1,940 crore, according to brokerage estimates.
Axis Bank: The bank reported a 62 percent year-on-year jump in the standalone net for the October-December quarter at Rs 5,853.07 crore as strong net interest income (NII) growth bolstered its bottomline despite higher provisions . The bank’s NII rose sharply by 32 percent year-on-year to Rs 11,459 crore.
Bank of Baroda (BoB), CG Power and Industrial Solutions: According to an analysis by Nuvama Alternative & Quantitative Research, Bank of Baroda and CG Power and Industrial Solutions may be added to the MSCI global standard index during the upcoming rebalancing exercise. The analysis probably pegs inflows of $150 million each.
Container Corporation (ConCor): The company’s third-quarter net profit grew 8 percent to Rs 307.71 crore in the quarter ended December 2022, from Rs 284.82 crore in the same period a year ago. Total income increased by 6 percent to Rs 2,102.66 crore.
HFCL: The company’s net income in Q2 grew by 14 percent to Rs 79.90 crore in the quarter ended December 2022 from Rs 70.11 crore in the quarter ended December 2021. However, total revenues fell by 9.2 percent on an annual basis to Rs 1,008.15 crore. Meanwhile, the company has planned a capex worth Rs 357 crore.
Zomato: The CEO of the company, Deepinder Goyal, announced 800 job openings in 5 positions through a Linkedin post. These positions include chief executive officer, generalist, growth manager, product owner, and software development engineer.
Jewelry-related: Shares of gold-related companies are likely to gain attention amid reports that the government is considering cutting the effective excise tax on gold below 12 percent. Currently, the effective tax on gold is 18.45 percent, including 12.5 percent import duties, 2.5 percent agricultural infrastructure development tax and other taxes.
Amber Enterprises: The company reported a net loss of Rs 5.50 crore for the quarter ended December 2022 against a profit of Rs 14.48 crore in the same period a year ago. However, the total income increased by 37.5 percent year-on-year to Rs 921.55 crore.
Supreme Petrochem: The company’s net profit fell 45.5 percent to Rs 89.59 crore in the quarter ending December 2022, compared to Rs 164.54 crore in the same period a year ago. Total income fell by 8.4 percent year-on-year to Rs 1,194.57 crore.
Syngene Internatinal: The company’s net income increased by nearly 6 percent to Rs 109.50 crore in Q3FY23 from Rs 103.40 crore in Q3FY22. Total income increased by 23.2 percent year-on-year to Rs 803.80 crore.
Selan Exploration: The company’s Q3 net has more than doubled to Rs 7.61 crore in the quarter ended December 2022 from Rs 3.1 crore in the corresponding quarter a year ago. Total income increased by 50.3 percent to Rs 32.06 crore.
Poonwalla Fincorp: The company’s standalone net rose 88 percent year-on-year to Rs 150 crore in the third quarter of FY23. Net NPAs fell 108 basis points to 0.89 percent.
DCX Systems: The company’s Q3 standalone net was down 5 percent year-on-year to Rs 17.29 crore in the quarter ended December 2022 from Rs 18.21 crore in the same period a year ago. Total income fell by 15 percent to Rs 362.36 crore.
disclaimer:Disclaimer: The opinions and investment tips of experts in this News18.com report are their own and not those of the website or its management. Users are advised to contact certified experts before making investment decisions.
Read all the latest business news here
