Stocks to focus on: January futures contract smelly 50 on the Singapore Exchange indicates a positive opening for domestic equities. The contract was trading at 18,221, up 74.5 points or 0.41% from the previous session.
Volatility likely ahead of January contract expiry in domestic Market, In addition, stock-specific action will be viewed as a group of companies report earnings.
Income Today: Apollo Pipes, Orionpro Solutions, Cartrade Tech, CG Power & Industrial Solutions, Chalet Hotels, Elecon Engineering, Gateway Distriparks, Geojit Financial Services, Granules India, HDFC AMC, Indoco Remedies, Indus Towers, Latent View Analytics, Macrotech Developers, Maruti Suzuki, More-Tech Realty, Nazara Technologies, Parag Milk Foods, Pidilite Industries, PNB Housing Finance, Punjab Chemicals, Quick Heal Technologies, Sasken Technologies, SBI Card, Sharda Corpchem, Sona BLW, Sonata Software, South Indian Bank, Strides Pharma, Supreme Industries Tata Coffee, Tatva Chintan Pharma, Triveni Engineering, TVS Motor Company, UCO Bank, United Spirits and Vaibhav Global were among the major companies that declared their December quarter results on Tuesday.
Maruti Suzuki: According to analysts, the auto major may see a sequential decline in net profit and revenue due to lower sales volumes. According to brokerage estimates, net profit could fall in the range of Rs 1,794.40 crore to Rs 1,940 crore.
Axis Bank: The bank strengthened the bottomline despite higher provisions as strong growth in net interest income (NII) at Rs 5,853.07 crore marked a 62 per cent jump in standalone net for the October-December quarter. The bank’s NII grew by 32 per cent to Rs 11,459 crore.
Bank of Baroda (BoB), CG Power & Industrial Solutions: Bank of Baroda and CG Power & Industrial Solutions may be added to the MSCI Global Standard Index during the upcoming rebalancing exercise, according to an analysis by Nuwama Alternative & Quantitative Research. Each $150 million is expected to flow into the analysis.
Container Corporation (ConCor): The company’s Q3 net profit for the quarter ended December 2022 rose 8 per cent to Rs 307.71 crore, as against Rs 284.82 crore in a year-ago period. Total income increased by 6 percent to Rs 2,102.66 crore.
HFCL: The company’s Q2 net grew 14 per cent to Rs 79.90 crore in the quarter ended December 2022, as against Rs 70.11 crore in the quarter ended December 2021. However, the total income declined by 9.2 per cent to Rs 1,008.15 crore. Meanwhile, the company has planned a capex of Rs 357 crore.
Zomato: The company’s CEO Deepinder Goyal through a LinkedIn post announced 800 vacancies across 5 roles. These roles range from Chief of Staff to CEO, Generalist, Growth Manager, Product Owner and Software Development Engineer.
Jewellery-related: Shares of gold-related businesses are likely to be in focus amid reports that the government is considering bringing down the effective duty on gold to below 12 per cent. Currently, the effective duty on gold is 18.45 per cent, which includes 12.5 per cent import duty, 2.5 per cent agriculture infrastructure development cess and other taxes.
Amber Enterprises: The company reported a net loss of Rs 5.50 crore for the quarter ended December 2022, as against a profit of Rs 14.48 crore in a year-ago period. However, the total income grew by 37.5 per cent to Rs 921.55 crore.
Supreme Petrochem: The company’s net profit declined 45.5 per cent to Rs 89.59 crore for the quarter ended December 2022, as against Rs 164.54 crore in a year-ago period. Total income declined by 8.4 per cent to Rs 1,194.57 crore.
Syngene Internatinal: The company’s net grew by nearly 6 per cent to Rs 109.50 crore in Q3FY23 from Rs 103.40 crore in Q3FY22. Total income grew by 23.2 per cent to Rs 803.80 crore.
Salen Exploration: The company’s Q3 net worth more than doubled to Rs 7.61 crore in the quarter ended December 2022, as against Rs 3.1 crore in the year-ago quarter. Total income increased by 50.3 percent to Rs.32.06 crore.
Poonwala Fincorp: Company’s standalone net grew 88 per cent to Rs 150 crore in Q3 FY2023. Net NPA reduced by 108 bps to 0.89 percent.
DCX Systems: The company’s Q3 standalone net declined 5 per cent to Rs 17.29 crore for the quarter ended December 2022, as against Rs 18.21 crore in a year-ago period. Total income declined by 15 percent to Rs 362.36 crore.
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