Global cues were mixed during the early hours of trade.
Domestic markets extended their losing streak on Monday as benchmark indices closed deep in the red. S&P BSE Sensex shed 1,023 points or 1.75% to end the day at 57,621 while the NSE Nifty 50 index tanked 302 points or 1.73% to settle at 17,213. Ahead of Tuesday’s trade SGX Nifty was up with marginal gains, hinting at a tepid start to the day’s trade. Global cues were mixed during the early hours of trade. On Wall Street, Dow Jones closed flat with no change while S&P 500 and NASDAQ ended in the red. Among Asian markets, Hang Seng and Shanghai Composite were in red while Nikkei 225, TOPIX, KOSPI, and KOSDAQ were in the green.
Adani Wilmar: Shares of the company will begin trading on the stock exchanges today. The IPO of the company was subscribed 17 times where shares were offered in a fixed price band of Rs 218-230 per share.
GSK Pharma: GlaxoSmithKline Pharmaceuticals Ltd on Monday reported a 3.93% decline in consolidated net profit to Rs 150.35 crore in the third quarter of the current fiscal year. Total income in October-December 2021 stood at Rs 826.24 crore as compared with Rs 805.89 crore in the year-ago period.
TVS Motor: TVS Motor Company yesterday reported a decline of 18.34% in the consolidated net profit to Rs 236.56 crore for the October-December quarter. The company attributed the drop to lower two-wheeler sales.
JM Financial: The company said its consolidated net profit saw a 20% jump to Rs 216.80 crore in the October- December quarter. On the other hand, assets quality deteriorated as gross NPAs and net NPAs rose to 4.39% and 2.76%, respectively.
Tata Steel: On Monday rating agency Moody’s said that Tata Steel’s acquisition of Neelachal Ispat Nigam is credit positive because it will increase the subsidiary’s long-steel production capacity and its reserves of iron ore.
Jindal Stainless: The firm’s December quarter consolidated profit rose nearly three times to Rs 441.78 crore. In the year-ago period, the company had reported a profit of Rs 170.20 crore.
Results today: Bharti Airtel, IRCTC, Bata India, Jindal Steel & Power, Bajaj Electricals, Ajmera Realty & Infra India, Aster DM Healthcare, Astrazeneca Pharma, Borosil Renewables, Data Patterns (India), Escorts, Godrej Consumer Products, Indraprastha Gas, Jammu & Kashmir Bank, Jagran Prakashan, J Kumar Infraprojects, Latent View Analytics, NCC, NMDC, Praj Industries, Redington (India), RITES, Stove Kraft, are among the companies that will report their quarterly results today.
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