Stocks to watch: Tata Steel, IndiGo, Eicher Motors, Titan, Burger King

Nifty futures on the Singapore Exchange traded 45 points higher at 15,162 around 8 am, indicating a firm start for benchmark indices on Wednesday.

Here are the top stocks to track in today’s session:

Tata Steel: The firm reported a consolidated net profit of Rs 3,698 crore in the December quarter as against a loss of Rs 1,029 crore in the corresponding period last year on the back of increased revenue, which was aided by both higher steel prices and volumes.

InterGlobe Aviation: The parent company of the country’s largest airline has settled with Sebi a case of alleged corporate governance lapses and listing norms violations that were raised by the company’s co-promoter Rakesh Gangwal. Meanwhile, the company appointed Jiten Chopra as its chief financial officer (CFO), effective February 21, 2021.

Q3 earnings: Eicher Motors, Company, GAIL India and Hindalco Industries are 4 Nifty companies among 330 firms that are slated to post their quarterly results today.

Glenmark Pharmaceuticals: The firm on Tuesday said its board will meet later this week to consider buyback of its Singapore-listed foreign currency convertible bonds.

Airtel, RIL, Voda Idea: Telecom operators Bharti Airtel, Reliance Jio and Vodafone Idea on Tuesday submitted applications to participate in the Rs 3.92 lakh crore spectrum auction scheduled to start from March 1, according to official sources.

Berger Paints: The firm’s Q3 profit jumped 51 per cent YoY to Rs 274.8 crore against Rs 182.3 crore posted in the same period last year.

India: The company’s net loss widened to Rs 29 crore against Rs 21.7 crore posted in the same period last year. Meanwhile, the revenues were down 28 per cent YoY at Rs 163.1 crore.

F&O Inclusion: Alembic Pharma, City Union Bank, Granules India, Gujarat Gas, L&T Technology Services and Mphasis will be part of F&O From March Series.

NHPC: National Hydro Power Corporation (NHPC) is raising up to Rs 2,000 crore in a bond sale, as it braces for a large capacity expansion plan amid the government’s thrust on hydroelectric energy.

Coffee Day Enterprises: The firm reported narrowing of consolidated net loss to Rs 97.11 crore for the three months ended December 2020 against a net loss of Rs 184.94 crore in the same period last year.

Century Ply: Century Plyboards India will pump in Rs 200 crore to expand the medium density fiber (MDF) board unit located at Hoshiarpur in Punjab, following rising demand in domestic and international Meanwhile, the company’s profit nearly doubled to Rs 65.79 crore during the December quarter as against a profit of Rs 37 lakh in the corresponding period a year ago.

Raymond: Raymond reported an 88.7 per cent YoY plunge in its consolidated net profit to Rs 22.18 crore for the quarter ending December 2020. The company had posted a net profit of Rs 196.83 crore in the year-ago quarter.

Torrent Power: Torrent Power reported an over 23 per cent YoY decline in consolidated net profit at Rs 321.73 crore for the December quarter, mainly due to a one-off gain in the year-ago period.

Lemon Tree Hotels: The firm posted a net loss of Rs 45.72 crore as against a net profit of Rs 11.08 crore posted in the same period last year. The revenue plunged 66 per cent YoY to Rs 68.37 crore.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link