Story: The stock market on Friday closed in red witnessing a sharp decline of 1.5 percent. On the contrary, the indices on Monday, January 25 are expected to open in green as the SGX Nifty indicated a higher opening for the domestic market. The SGX Nifty was trading 129.50 points higher at 14,486.50. On January 22, the BSE Sensex had a negative closing at 48,878.54 witnessing a decline of 746.22 points or 1.50 percent. Similarly, the NSE Nifty plunged 218.45 points or 1.50 percent to close at 14,371.90.
Top stocks to look for the day are:
Reliance Industries: The largest company by market capitalisation of the country led by Mukesh Ambani, has reported a consolidated profit of Rs 14,894 crore in the December Quarter rising by 40.5 percent against Rs 10,602 crore in Q2FY21. The revenue of the company also increased to Rs 1,23,997 crore from Rs 1,16,195 crore on QoQ basis.
Piramal Enterprises: Dewan Housing Finance Corporation Ltd (DHFL) creditors has declared Piramal Capital and Housing Finance Ltd (PCHFL) as a successful bidder, informed billionaire Ajay Piramal-led firm on January 22. PCHFL is a subsidiary of Piramal Enterprises.
Birla Corporation: The company released its quarterly result on Saturday reporting a sharply higher profit at Rs 148.2 crore in Q3FY21 against Rs 81.5 crore in Q3FY20. Similarly, the revenue of the company hiked to Rs 1,776.6 crore from Rs 1,715 crore on YoY basis.
UltraTech Cement: For the December Quarter, the company reported a consolidated profit of Rs 1,584 crore against Rs 711 crore in the same period last year. The revenue of Aditya Birla Group company jumped to Rs 12,254.1 crore from Rs 10,439.3 crore YoY.
Grasim Industries: The company has decided to enter paints business and will invest Rs 5,000 crore over the next three years.
Yes Bank: The bank reported a profit of Rs 150.7 crore in the December Quarter against a loss of Rs 18,560 crore in the same period last year. Net interest income of the bank jumped to Rs 2,560.4 crore from Rs 1,064.7 crore on YoY basis.
Tata Power: Tata Power Solar Systems bagged an order worth Rs 1,200 crore ( USD 162 million) from NTPC for setting up a 320 MW ground mounted Solar PV project.
Quarterly Results: Larsen & Toubro, Kotak Mahindra Bank, Chennai Petroleum Corporation, ICICI Securities, Mahindra Holidays & Resorts India, UCO Bank, etc will announce their quarterly earnings on January 25.