Stocks in news: Hero MotoCorp, Nykaa, ACC, Tata Power and more

The Indian equity market is likely to open marginally lower today as SGX Nifty  fell 24 points to 17,531.

On Wednesday, Sensex closed 657.39 points or 1.14 per cent higher at 58,465.97. Nifty rose 197.05 points or 1.14 per cent to end at 17,463.80.

Here's a look at stocks that are likely to remain in news today.

Earnings today

Shares of Amara Raja Batteries, BEML, Cochin Shipyard, Hero MotoCorp, Hindalco Industries, Dr Lal Pathlabs, Lemon Tree Hotels, M&M, Quess Corp, Tata Chemicals and Trent are in focus today as these companies will report their quarterly earnings today.

PowerGrid: Power Grid Corporation reported a 2.2 per cent fall in consolidated net profit to  Rs 3,292.97 crore in Q3 against consolidated net profit of  Rs 3,367.71 crore in the quarter ended on December 31, 2020.

Engineers India: The company reported a lower profit at Rs 40.6 crore in Q3FY22 against Rs 88 crore in Q3FY21. Revenue also fell to Rs 692.1 crore from Rs 845.4 crore YoY.

Petronet LNG: The company logged a profit of Rs 1,143.5 crore in Q3FY22 against Rs 823 crore in Q2FY22. Revenue rose to Rs 12,597.2 crore from Rs 10,813 crore QoQ.

Nykaa:  FSN E-Commerce Ventures, the parent company of online beauty e-commerce platform Nykaa, reported a 58 per cent year-on-year (YoY) decline in its consolidated net profit for October-December at Rs 29 crore. Its net profit stood at Rs 1.2 crore in the preceding September quarter. However, revenue from operations grew 36 per cent YoY and 24 per cent quarter-on-quarter (QoQ) to Rs 1,098.4 crore from Rs 808 crore in October-December quarter of 2021.

Tata Power: The firm reported a jump of 71.7 per cent in its consolidated net profit at Rs 426 crore for the quarter ending December 31, 2021. The company had posted a net profit of Rs 248 crore in the year-ago period. Revenue from operations increased 44 per cent to Rs 10,913 crore for the third quarter as compared to Rs 7,598 crore in the same quarter last fiscal.

 SAIL: The state owned firm reported a 4.1 per cent rise in net profit at Rs 1,528.54 crore in Q3 against net profit of  Rs 1,468.20 crore in the year-ago period.

 Indiabulls Housing Finance: The firm's profit after tax (PAT) fell 8 per cent to  Rs 303 crore in Q3 due to slower loan growth. It reported a PAT of  Rs 329 crore in the year-ago period.

ACC: The cement maker logged a 40.55 per cent rise in its consolidated net profit to Rs 280.85 crore for the quarter ended December 31, 2021. The company had posted a net profit of  Rs 472.44 crore during the corresponding quarter last year.