The US markets did well. Asian markets are in the green awaiting Australia’s rate decision and India’s Annual Budget. The Ukraine crisis continues. The 2022-23 budget will be tabled today. SGX Nifty indicates a positive start for Indian markets.
The following stocks will be in focus today:
Tata Steel Long Products: The company won the bid to acquire 93.71% stake in the Neelanchal Ispat Nigam Ltd. (NINL) for Rs.12100 Cr. MMTC has 49% stake in NINL.
Auto Stocks: Monthly sales numbers will be released for January 2022. As a result, all of the Auto stocks will be in focus.
SBI: The lender entered into an agreement with Tata Power Solar Systems for financing solar projects to establish a centralised processing cell called “Surya Shakti Cell”. This cell will process all the loan applications pertaining to Solar Projects (up to 1 MW), for installation by both households and business enterprises.
NTPC: Its subsidiary acquires 5% stake in the Power Exchange of India.
Adani Total Gas: The company to invest Rs.20000 Cr in CGD sector in upcoming 8 years.
BPCL: The company reported a consolidated profit at Rs.2805 Cr vs. Rs.1900.63 Cr YoY. Its Q3 revenue jumped to Rs.117702.6 Cr from Rs.87292.62 Cr YoY.
IOC: The company reports a higher Consolidated profit at Rs.6143.08 Cr vs. Rs.4359.11 Cr YoY. Its Q3 revenue increased to Rs.199375.30 Cr from Rs.147676.04 Cr YoY.
HPCL: The company has reported Q3 net profit at Rs.868.86 Cr vs. Rs.2354.64 Cr YoY. Its Q3 revenue stood at Rs.103422.37 Cr vs. Rs.77412.68 Cr YoY.
DLF: The company has reported Q3 net profit at Rs.379.5 Cr vs. Rs.449 Cr YoY. Its Q3 revenue increased to Rs.1549.7 Cr from Rs.1543 Cr YoY.
Tata Motors: The Auto major posted a consolidated loss of Rs.1516 Cr vs. loss of Rs.2906.5 Cr YoY. Its revenue fell to Rs.72229.3 Cr from Rs.75635.8 Cr YoY.
KEC International: The company recorded lower consolidated profit at Rs.93.61 Cr vs. Rs.145.07 Cr YoY. Its revenue jumped to Rs.3340 Cr from Rs.3289.2 Cr YoY
The following are some of today’s important results:
Tech Mahindra, Adani Ports and Special Economic Zone, Sona BLW Precision Forgings, Kansai Nerolac Paints, Laxmi Organic Industries, Indian Hotels, Indoco Remedies, Cholamandalam Investment and Finance Company, Gujarat Ambuja Exports, and Jubilant Ingrevia,
As it is a Budget day, most of the stocks will be active today regardless of Q3 earnings.