Stocks to Watch Today: Amid strong signals from the global market, the Indian stock market is expected to have a good start today. At 7.55 am, Gift Nifty is up 38.50 points at 21461.50. After the late fall in the US market, temporary trading was seen in major markets of Asia this morning. Taiwan was up 0.5 percent, while the Hang Seng rose 0.2 percent. On the other hand, Nikkei and Kospi declined by 0.3 per cent. The Straits Times was hovering around the flat line. Yesterday the US market ended at the day’s low. In this, Dow Jones was down 0.3 percent. Nasdaq and S&P 500 managed to gain. US 10-year Treasury bond yields rose to 4.176 percent. Global markets will pay attention to the policy decision of the European Central Bank (ECB) today. It is expected that ECB will keep the rates unchanged.
Results of these companies will come: ACC, Adani Power, AU Small Finance Bank (SFB), Cyient, Equitas SFB, HPCL, Indian Energy Exchange, Indraprastha Gas, JSW Steel, LT Foods, Novartis, Punjab National Bank, SBI Cards, SBI Life, Shriram Finance, Tata Technologies and Vedanta are some of the notable companies that are scheduled to declare December quarter results on Thursday.
Tata Steel: Tata Group’s steel major reported a consolidated net profit of Rs 513.37 crore for the quarter ended December 2023, compared to a net loss of Rs 2,223.84 crore in the year-ago period. However, revenue from operations declined 3.1 percent year-on-year to Rs 55,311.88 crore.
Bajaj Auto: Q3FY24 Q3 consolidated net profit rose 38 per cent to Rs 2,032 crore, beating analysts’ estimates. Revenue from operations increased by 30 percent year-on-year to Rs 12,165 crore.
Tech Mahindra: Q3FY24 net profit fell 60.6 per cent to Rs 510.4 crore, while revenue fell 4.6 per cent to Rs 13,101 crore.
TVS Motor: Net profit for Q3FY24 increased by 59 per cent year-on-year to Rs 478.75 crore, compared to Rs 300.89 crore in Q3FY23. Revenue from operations increased by 25 percent to Rs 10,113.94 crore.
Indian Oil (IOC): Q3 net profit for the quarter ending December 2023 (Q3FY24) rose over 10 times to Rs 9,030 crore, driven by better marketing margins, compared to Rs 773 crore in the same period a year ago.
Canara Bank: Net profit for Q3FY24 increased by 26.9 per cent year-on-year to Rs 3,656 crore. Net interest income increased by 9.5 percent to Rs 9,417 crore.
Zee Entertainment: Days after $10 billion merger transaction with Sony India fails; The company has approached the National Company Law Tribunal (NCLT) with an appeal to direct Sony India to implement the merger plan approved by NCLT in August 2023.
Bank of Baroda: Raised Rs 5,000 crore through infrastructure bonds. The coupon rate for the 10-year paper was fixed at 7.57 percent.
seat: Q3FY24 net profit increased 5 times from the year-ago period to Rs 181.48 crore. Revenue from operations increased by 8.6 percent to Rs 2,963.14 crore.
dalmia india:The cement maker reported 29 per cent rise in net profit to Rs 263 crore for the quarter ending December 2023. Revenue from operations increased by 7 percent to Rs 3,600 crore.
Indian Bank: Net profit increased by 52 percent to Rs 2,119 crore in the December 2023 quarter, compared to Rs 1,396 crore in the same quarter a year ago. Total income increased by 18.8 percent on annual basis to Rs 16,099 crore.