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PRE-MARKET REPORT
The benchmark Sensex and Nifty indices are likely to open on a negative note on February 6 as trends in the GIFT Nifty indicate a negative start.
Wall Street’s main indexes closed lower on Monday after Federal Reserve Chair Jerome Powell pushed back firmly against speculation that rate cuts would be imminent.
The Dow Jones Industrial Average fell 274.30 points, or 0.71 percent. the S&P 500 lost 15.80 points, or 0.32 percent and the Nasdaq Composite lost 31.28 points, or 0.20 percent.
Most Asian markets fell Tuesday, tracking declines in Wall Street overnight, while investors also awaited the interest rate decision from the Reserve Bank of Australia later in the day.
STOCKS TODAY
Adani Total Gas: The Adani Group company has signed a mutual support agreement with Inox India (INOXCVA) to strengthen the LNG ecosystem in India. Under the said agreement, the company and Inox India will collaborate for the delivery of LNG and LCNG equipment and services, reports CNBC-TV18.
Tata Chemicals: The Tata Group company reported a consolidated profit of Rs 158 crore for the quarter ended December FY24, falling sharply by 60 percent compared to the year-ago period, impacted by a lower topline as well as disappointing operating numbers. Power, fuel, and input costs remained lower YoY. Revenue from operations fell 10 percent YoY to Rs 3,730 crore for the quarter.
Bharti Airtel: The telecom operator has recorded consolidated net profit of Rs 2,442.2 crore for the quarter ended December FY24, growing sharply by 82.2 percent over the previous quarter as the Q2 FY24 profit was impacted by an exceptional loss of Rs 1,570.3 crore. Revenue from operations grew by 2.3 percent QoQ to Rs 37,900 crore.
Ashok Leyland: The commercial vehicle maker has registered a 60.5 percent on-year growth in net profit at Rs 580 crore for the quarter that ended December FY24, beating analysts’ estimates and backed by strong operating numbers. Revenue from operations grew by 2.7 percent YoY to Rs 9,273 crore for the quarter.
Life Insurance Corporation of India: The state-owned life insurance company said the board of directors will be meeting on February 8 to consider the unaudited financial results for the quarter and nine-month period ended in December 2023. Further, in the said meeting, the board may consider a proposal for the declaration of an interim dividend for FY24.
TVS Supply Chain Solutions: The logistics company recorded a consolidated profit of Rs 9.99 crore for the quarter ended December FY24, falling 42 percent compared to the year-ago period despite lower input costs. Revenue from operations for the quarter fell 6.4 percent YoY to Rs 2,221.8 crore.
Results on February 6: Britannia Industries, FSN E-Commerce Ventures (Nykaa), Azad Engineering, Birla Corporation, Blue Jet Healthcare, Computer Age Management Services, Endurance Technologies, Godrej Properties, J B Chemicals & Pharmaceuticals, JK Tyre & Industries, Lemon Tree Hotels, Max Financial Services, Navin Fluorine International, Nazara Technologies, NLC India, Trident, Tata Teleservices (Maharashtra), Welspun Corp, and Zaggle Prepaid Ocean Services will report their December quarter earnings on February 6.