The Indian equity market is likely to open marginally higher today as SGX Nifty rose 19 points to 17,233. Sensex crashed over 1,000 points on Monday to close below the 58,000 level, led by sell-off in banking and financial stocks amid mixed global markets. Concerns over unabated foreign capital outflows also affected the market sentiment, traders said. Sensex ended 1,023 points lower at 57,621 and Nifty slumped 302.70 points to 17,213.
HDFC Bank was the top Sensex loser shedding over 3.5 per cent, followed by Bajaj Finance, L&T, HDFC, Bajaj Finserv, HDFC and Kotak Bank.
PowerGrid, NTPC, Tata Steel, SBI and Ultratech Cement were the top Sensex gainers, rising up to 1.88 per cent. Of 30 Sensex stocks, 25 closed in the red.
Also read: Sensex tanks 1,023 points, Nifty below 17,250; banking, consumer durables top losers
Here's a look at stocks that are likely to remain in news today.
Earnings today
Shares of Bharti Airtel, Endurance Technologies, Aster DM Healthcare, Bajaj Electricals, Bata India, Escorts, Godrej Consumer Products, Indraprastha Gas, IRCTC, Jindal Steel and Power, Mahanagar Gas, NCC, NMDC, Stove Kraft, Tasty Bite Eatables, Ugro Capital, Kolte-Patil Developers, Manorama Industries, Mayur Uniquoters, Medicamen Biotech, Morepen Laboratories and RITES are in focus as these firms will announce their Q3 earnings today.
Adani Wilmar: The shares of Adani Wilmar, a joint venture between Adani Group and Singapore-based Wilmar, will list on BSE and NSE today. The IPO had a price band of Rs 218-230 per share. Analysts expect the Adani Group firm to make a decent market debut amid ongoing correction in the market.
TVS Motor Company: The two-wheeler firm reported a 9 per cent rise in its net profit to Rs 288.31 crore in Q3 against a net profit of Rs 265.62 crore in the year-ago. The company also registered highest ever profit before tax of Rs 391 crore during the quarter under review.
NALCO: The firm's December quarter consolidated profit rose over three times to Rs 830.67 crore. The company had posted a profit of Rs 239.71 crore for the year-ago period. Income in Q3 rose to Rs 3,845.25 crore over Rs 2,414.95 crore in the year-ago period.
Castrol India: The company logged a profit of Rs 758.1 crore in Q3FY22 against Rs 582.9 crore in Q3FY21. Revenue rose to Rs 4,192.1 crore from Rs 2,996.9 crore YoY.
Paisalo Digital: The company reported profit at Rs 26 crore in Q3FY22 compared to Rs 22.2 crore in Q3FY21. Revenue climbed to Rs 101.4 crore from Rs 86.4 crore YoY.
Jindal Stainless: The company logged profit of Rs 371.8 crore in Q3FY22 against Rs 151.6 crore in Q3FY21. Revenue rose to Rs 5,368.4 crore from Rs 3,451.9 crore YoY.
Biocon: The firm's arm Biocon Pharma received US FDA approval for its abbreviated new drug application for Posaconazole Delayed-Release tablets.
RBL Bank: The private sector lender has announced a partnership with Creditas Solutions, a global technology company in the field of delinquency management, for its 'Neo Collections' platform. RBL Bank will utilise the SaaS-based (software as a service) platform to accelerate efficiency in collections across the loan cycle.
Minda Industries: The flagship firm of the UNO MINDA Group is raising its stake in the subsidiary company Minda Kosei Aluminum Wheels (MKA) to 77.35 per cent from 70 per cent, with an investment of Rs 61.2 crore in the venture. The existing shareholders and Joint venture partners have renounced their rights in favour of MIL, enabling the company to increase its stake from 70 per cent to 77.35 per cent in Minda Kosei, the company said.
L&T: Larsen & Toubro (L&T) and Microsoft India have inked an agreement to develop cloud computing and infrastructure services for regulated sector customers. L&T and Microsoft will collaborate with a defined set of large customers in regulated sectors to develop architectures and roadmaps to modernise their traditional data centers to potentially hybrid models and advance their digital transformation goals, in line with emerging regulations.
DB Realty: The firm has allotted 4,87,50,000 warrants representing 13.04% voting rights to Neelkamal Tower Construction LLP on a preferential basis.