The stock market on Friday closed in red for the sixth consecutive session. On the contrary, the indices on Monday, February 1 is expected to give a positive opening as the SGX Nifty indicated a higher opening for the domestic market. The SGX Nifty was trading 31.50 points up at 13,752.50. Also, Union Finance Minister Nirmala Sitharaman will be presenting the Budget 2021 at 11 am today which can help the market to come out of the bear trap.
On January 29, the BSE Sensex plunged 588.59 points or 1.26 percent to close at 46,285.77. Similarly, the NSE Nifty fell 182.95 points or 1.32 percent to end below 14,000 mark at 13,634.60.
Top stocks to look for the day are:
Tata Motors: The company on Friday reported sharply higher profit at Rs 2,906.5 crore in Q3FY21 rising by 67.2 percent against Rs 1,738.3 crore in the same period a year ago. The revenue of the company also increased to Rs 75,653.79 crore up by 5.5 percent from Rs 71,676.07 crore YoY.
Tech Mahindra: The IT services firm reported higher consolidated profit at Rs 1,309.8 crore in the December Quarter rising by 14.3 percent against Rs 1,064.6 crore in Q3FY20. However, there was a marginal increase in the revenue of the company to Rs 9,647.1 crore from Rs 9,371.8 crore.
Dish TV India: The company reported a consolidated net profit of Rs 86.41 crore in the December Quarter against a loss of Rs 66.77 crore in the same period a year ago. The revenue of the company declined 6 percent to Rs 815.67 crore on yearly basis.
Cipla: The company reported a 113 percent jump in its profit at Rs 748.2 crore in Q3FY21 against Rs 351 crore in Q3FY20. The revenue of the company also hiked 18.2 percent to Rs 5,168.7 crore from Rs 4,371 crore on yearly basis.
IndusInd Bank: The bank witnessed a fall of 34.41 percent in its profit which stood at Rs 852.8 crore in the December Quarter against Rs 1,300.2 crore in Q3FY20. However, the revenue of the company increased to Rs 3,406.1 crore from Rs 3,074 crore YoY.
IDFC First Bank: The bank reported its net profit at Rs 130 crore in Q3FY21 compared to the net loss of Rs 1,639 crore a year ago.
Vedanta: The company reported higher profit at Rs 4,224 crore in Q3FY21 against Rs 2,665 crore in the same period a year ago. The revenue of the company increased to Rs 22,498 crore from Rs 21,126 crore on yearly basis.
DLF: Country’s biggest real estate developer reported a higher profit at Rs 449 crore up by 9 percent in Q3FY21 against Rs 413.10 crore in Q3FY20. The revenue of the company increased to Rs 1,668.22 crore from Rs 1,533.34 crore YoY.
Quarterly Results: Castrol India, Finolex Industries, Fortis Malar Hospitals, Kansai Nerolac Paints, Reliance Capital, Reliance Infrastructure, etc will announce their quarterly earnings on February 1.
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