The Indian stock market witnessed a sharp upward leap on Wednesday, closing in green territory for the second straight session. NSE Nifty finished 197 points higher at 17,463 while BSE Sensex shot up 657 points and closed at 58,465 levels, Bank Nifty index also 581 points and finished at 38,610 levels. Anuj Gupta, vice president at IIFL Securities said, “Wednesday, Dow Jones Futures ended in positive zone for the second straight session and SGX Nifty is today about 38 points higher at 17,522 levels, signaling a positive open for Indian markets. “
Here are the stocks to keep an eye on today:
Tata Power Company
The company reported sharply higher profits of Rs 551.8 crore in Q3FY22 against Rs 318 crore in Q3FY21, while sales rose to Rs 10,913.4 crore from Rs 7,597.9 crore year on year.
Power Grid Corporation of India
The company reported a lower profit of Rs 3,292.9 crore in Q3FY22 against Rs 3,367.7 crore in Q3FY21. Revenue increased to Rs 10,446.8 crore from Rs 10,142.4 crore year on year.
The company reported a lower profit of Rs 280.9 crore in Q4CY21 against Rs 472.4 crore in Q4CY20, sales rose to Rs 4,225.8 crore from Rs 4,144.7 crore year on year. The company, which follows the January-December fiscal year cycle, had posted a net profit of Rs 472.44 crore in the corresponding quarter of last year last year, said ACC, a subsidiary of Swiss building materials-large Holcim group (previously LafargeHolcim), in a BSE application.
FSN E-commerce Ventures, which operates under the Nykaa brand, reported a 57 percent decline in its 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 crores.
Steel Authority of India Ltd (SAIL) on Wednesday reported a 4.1 percent increase in consolidated net profit to Rs 1,528.54 crore for the October-December period of the current fiscal year, aided by higher revenues. The company had posted a consolidated net profit of Rs 1,468.20 crore last year, SAIL said in a filing with BSE.
Indiabulls Housing Financing
Indiabulls Housing Finance Company’s after-tax profit (PAT) fell 8 percent to Rs 303 crore in the quarter ended December due to slower loan growth. It reported a PAT of Rs 329 crore in the period from a year ago.
GMR Infrastructure Ltd on Wednesday reported a narrowing of its consolidated net loss to Rs 515.34 crore for the quarter ended December 2021 from that of Rs 1,120.51 crore in the same period a year ago, according to a regulatory filing. Consolidated operating income in the past quarter increased to Rs 1,437.84 crore from Rs 963 crore in the same period a year ago.
Aurobindo Pharma said on Wednesday that consolidated net profit fell 22.3 percent 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 the previous fiscal year.
Petronet LNG Ltd, India’s largest importer of liquefied natural gas, reported its highest quarterly net profit of Rs 1,159.46 crore on Wednesday as a rise in prices pushed margins, the company 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, Specialty 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 report their quarterly results on Feb. 10.
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