Domestic equity indices ended flat a day ahead of the Nirmala Sitharaman’s fifth Budget speech today. Sensex gained 49.49 points or 0.08 per cent to 59,549.90, while Nifty50 index settled at 17,662.15, gaining 13.20 points or 0.07 per cent. Broader markets outperformed the headline peers as BSE midcap index rallied over a per cent, whereas smallcap index jumped 2 per cent. Fear gauge India VIX spiked eased 5 per cent to 16.87-level.
Here’s a look at stocks that are likely to remain in news today.
Adani Enterprises: The Rs 20,000 crore FPO was fully subscribed on the last day despite weak sentiments due to the Hindenburg report. The subscription was led by non-institutional investors. While retail portion saw weak demand, the non-institutional category was over-subscribed.
Sun Pharma: The company reported a 5% rise in consolidated net profit at Rs 2,166 crore for the quarter ended December 2022 compared with Rs 2,058 crore in the same quarter last year.
Indian Oil Corporation: The state-owned firm’s standalone net profit fell 92% to Rs 448 crore in Q3 against profit of Rs 5,860 crore in the corresponding period of last year.
UPL: The company logged a 16% year-on-year (YoY) rise in consolidated net profit for the quarter ended December to Rs 1,087 crore. Revenue from operations rose 21% on-year to Rs 13,679 crore.
Lupin: Pharma major Lupin said it has received tentative approval from the United States Food and Drug Administration (USFDA) under the US President's Emergency Plan for AIDS Relief (PEPFAR) for its New Drug Application for Dolutegravir, Emtricitabine and Tenofovir Alafenamide (DETAF) Tablets. The product will be manufactured at Lupin’s Nagpur facility in India.
Auto stocks: Shares of auto companies will be tracked today as the firms will release sales updates for January.
Reliance Industries: The firm has stopped selling petroleum coke within India and boosted imports of the product to turn it into synthetic gas to power its refineries, Reuters reported citing sources.
Vodafone Idea Ltd: The telco has again approved preferential issue of debentures worth Rs 1,600 crore to ATC Telecom Infrastructure. Vodafone Idea is ATC's largest customer in India.
Max Financial: Consolidated revenue rose 28% to Rs 8,898 crore, and consolidated PAT zoomed 196% to Rs 269 crore.
Jindal Steel : Jindal Steel and Power’s third quarter consolidated gross revenues stood at Rs 14,452 crore, with an adjusted EBITDA of Rs 2,296 crore. PAT for the quarter was flattish QoQ at Rs 897 crore.
Blue Star: Net profit for Q3 rose 23% to Rs 58.41 crore, while revenue for the quarter rose by 19% to Rs 1,788 crore.
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