The stock market on Thursday closed in red for the fifth consecutive session. On the contrary, the indices on Friday, January 29, are expected to give a positive opening as the SGX Nifty indicated a higher opening for the domestic market. The SGX Nifty was trading 174.00 points up at 13,991.00. On January 28, the BSE Sensex plunged 535.57 points or 1.13 percent to close at 46,874.36. Similarly, the NSE Nifty fell 149.95 points or 1.07 percent to end below 14,000 mark at 13,817.55.
Top stocks to look for the day are:
IRCTC: Indian Railway Catering and Tourism Corporation Ltd (IRCTC) released its quarterly results on Thursday reporting a decline of 62.1 percent in its net profit which stood at Rs 78 crore for the quarter ended December (2020) against Rs 205.8 crore during the same period a year ago. However, on a quarterly basis, the profit increased 144 percent.
Pidilite Industries: The company reported a 28.99 percent increase in consolidated net profit to Rs 446.43 crore for the December Quarter compared to Rs 346.11 crore in the same quarter of previous fiscal. The revenue of the company also rose 19.33 percent to Rs 2,299.02 crore against Rs 1,926.59 crore in the year-ago period.
Maruti Suzuki India: India’s largest carmaker on Thursday reported a 24 percent increase in net profit to Rs 1,941.4 crore for the December quarter YoY. The company’s revenues from operations also increased by 13.3 percent to Rs. 23,458 crore.
United Breweries: The company on Thursday reported 18.87 percent hike in its consolidated net profit to Rs 127.19 crore for Q3FY20 against Rs 107 crore during the October-December period of the previous fiscal. However, the revenue of the company witnessed a decline of 5.78 percent to Rs 3,065.89 crore compared to Rs 3,254.07 YoY.
Coforge: IT firm Coforge Ltd has reported a 1.1 percent decline in consolidated net profit to Rs 122 crore for the December quarter on Thursday against Rs 123.3 crore in the year-ago period. However, the consolidated revenue of the company increased 10.9 percent to Rs 1,190.6 crore from Rs 1,073.4 crore in the year-ago period.
Tata Chemicals: The company released its December quarter results on Thursday and has reported a 3.66 percent decline in consolidated profit after tax (PAT) at Rs 160.85 crore. The consolidated revenue of the company also dipped 0.7 percent to Rs 2,606 crore on yearly basis.
InterGlobe Aviation: The parent company of low-cost carrier Indigo has reported a net loss of Rs 620.1 crore for the October-December quarter against a net profit of Rs 496 crore in the same period last year.
IDBI Bank: The bank reported a net profit of Rs 378 crore for the December quarter against a net loss of Rs 5,763 crore for the year-ago period.
Quarterly Results: Bajaj Healthcare, Cipla, Dabur, Sun Pharma, Tata Motors, Tech Mahindra, Union Bank of India, Dish TV India, DLF, Dr. Reddy’s Labs, Exide Industries, Heritage Foods, IndusInd Bank, Indian Oil Corporation, JSW Energy, LIC Housing Finance, Manappuram Finance, etc will announce their quarterly earnings on January 29.
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