Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at agap-up start on Friday, as suggested by trends on SGX Nifty in early trade.
Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at agap-up start on Friday, as suggested by trends on SGX Nifty in early trade. Nifty futures were trading 43.50 points 0.25 per cent down at 17,562 on Singaporean Exchange. S&P BSE Sensex closed 770 points or 1.29% lower at 58,788 while the NSE Nifty 50 index dived 219 points or 1.24% to end at 17,560. Analysts say that the short term uptrend status of Nifty 50 seems to have reversed down. “The intense follow-through weakness from here could open more downside in the near term. Confirmation of reversal is likely to drag Nifty down to 17000-16800 levels. Immediate resistance is placed at 17650 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.
Stocks to watch
GAIL (India): GAIL’s net profit increased 121.1% on-year to Rs 3,287.9 crore on a standalone basis in the quarter ended December, as the natural gas marketing business — GAIL’s largest revenue earner — reported a before-tax profit of Rs 1,749.7 crore against a loss of Rs 73.7 crore in the corresponding period a year ago.
Sundaram Finance Holdings: Sundaram Finance Holdings (SF Holdings) has reported a consolidated net profit of Rs 33.63 crore for the quarter ended December 31, 2021, an increase of 22% over Rs 27.65 crore in the corresponding period of the previous year.
ITC: ITC on Thursday reported a 12.69% on-year rise in its standalone net profit to Rs 4,156.20 crore for the third quarter ended December 31, 2021, as its gross revenue from sale rose 31.25% on-year.
Emami: Emami on Thursday announced a major move to rejig its board, as founders founders RS Agarwal and RS Goenka are stepping down from their executive roles, paving the way for the next generation to take charge of the company.
Aditya Birla Capital: Aditya Birla Capital on Thursday said its consolidated net profit doubled to Rs 577 crore in the quarter ended December 2021, its highest-ever quarterly profit, on the back of strong growth across businesses.
Tata Steel, IndiGo: BSE-listed companies such as Tata Steel, Shree Cement, Bank of India, InterGlobe Aviation, One 97 Communications (Paytm), Siemens, Aditya Birla Fashion, Alkem Laboratories, Astral, Antony Waste Handling Cell, Birla Corporation, CMS Info Systems, City Union Bank, Devyani International, Godrej Agrovet, Jubilant Pharmova, Mahindra Lifespace Developers, Minda Corporation, Monte Carlo Fashions, REC, Sun Pharma Advanced Research Company, Thermax, Vadilal Industries, and Zee Learn will release quarterly earnings on February 4.
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