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Notwithstanding the fresh surge in crude oil prices, equity benchmark indices Sensex and Nifty are eyeing a strong start on Monday following the long weekend.
At 7:30 am, the Gift Nifty futures were up 150 points at 21,641 over Nifty futures’ last close.
Crude oil futures were up 0.65 per cent at $84 per barrel as Iran-backed militants carried separate attacks targeting a tanker in the Red Sea and killing 3 US troops in Jordan.
However, stocks in Asia held their ground. Japan’s Nikkei was up 0.8 per cent. Australia’s S&P/ASX 200 rose 0.35 per cent. Kopsi in South Korea and Hang Seng in Hong Kong jumped over 1 per cent each.
Investor focus this week remains on the US Fed's rate outcome on Jan 31 and the interim budget back home on Feb 1.
Meanwhile, here are some stocks to watch out in trade today:
Q3 earnings today: ITC, Bajaj Finance, NTPC, GAIL, BPCL, Vodafone Idea, Adani Green, Marico and Bharat Electronics, among others.
HDFC Bank: RBI has given an approval to LIC to increase its stake in the lender to up to 9.99 per cent from the current 5.19 per cent.
SBI Cards: Its Q3 profit rose 7.8 per cent YoY to Rs 549 crore. Revenue for the quarter jumped 31.8 per cent YoY to Rs 4,622 crore.
Adani Power: Its Q3 net profit jumped to a whopping Rs 2,738 crore from Rs 8.8 crore a year ago, a rise of over 300 times. Consolidated revenue grew 67.3 per cent YoY to Rs 12,991 crore.
It has also entered into a pact to sell two wholly owned subsidiaries to AdaniConnex Pvt for Rs 540 cr. It will sell Aviceda Infra Park Ltd for Rs 190 cr and Innovant Buildwell for Rs 350 cr to AdaniConnex.
Tata Technologies: Its Q3 profit rose 14.7 per cent YoY to Rs 170.22 crore. Revenue too grew 14.7 per cent YoY to Rs 1,289.5 crore.
Vedanta: It has reported a decline of 18.3 per cent in Q3 profit to Rs 2,013 crore from an year ago. It had an exceptional gain of Rs 903 cr in Q3FY23. Revenue in the reporting quarter grew 4.2 per cent YoY to Rs 35,541 crore.
Coal India: It has emerged as the lowest bidder for a 300 MW solar project in Khavda, Gujarat.
Coal India and its subsidiary Western Coalfields have also identified four to five closed mines in the Chhindwara Pench area for setting up green projects for optimum utilisation of assets, as per the govt.
DLF: It will acquire 29 acres of land in Gurugram from IREO to build a housing project after taking over bad loans worth Rs 825 crore related to the land.
Laurus Labs: The company will form a 49:51 JV with Slovenia's Krka Pharma in Hyderabad.
SJVN: It has won an auction by Gujarat Urja Vikas Nigam for 100 MW solar project at Rs 2.54 per unit on a build-own and operate basis through a tariff based competitive bidding process.
Strides Pharma: Its Singapore unit has received US FDA approval for Pregabalin capsules.
Dhanlaxmi Bank: The bank has received RBI nod for extending JK Shivan's term as managing director and chief executive officer till his successor assumes office.
Yes Bank: The board has approved transfer of investment banking and merchant banking business from Yes Securities to the company, effective Jan 1.
Shilpa Medicare: The Europe GMP inspection of its facility in Jadcherla, Telangana by AGES, Austria from Jan 22 to Jan 26 was concluded with two minor observations.
Shilpa Medicare: The Europe GMP inspection of its facility in Jadcherla, Telangana by AGES, Austria from Jan 22 to Jan 26 was concluded with two minor observations.
