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The benchmark Sensex and Nifty indices are likely to open higher on January 23 as trends in the GIFT Nifty indicate a positive start for the broader index with a gain
Asian markets traded higher while investors await interest rate decision from the Bank of Japan (BoJ) as it holds its first monetary policy of the year
Japan’s Nikkei 225 index gained 0.66% to hit a fresh 33-year peak, while Topix rose 0.72%. Hong Kong’s Hang Seng index futures indicated a higher opening.
The US stock market indices ended higher on Monday with the S&P 500 posting a second straight record high close led by a rally in tech stocks.
The Dow Jones Industrial Average gained 0.36%, while the S&P 500 rose 0.22%. The Nasdaq Composite ended 0.32% higher.
STOCKS TODAY
Tata Motors: The Tata Group company said it would increase the prices of its entire passenger vehicle range by an average of 0.7 percent with effect from February 1. The price increase is being taken to partially offset the rise in input costs.
Tata Consultancy Services: The country’s largest IT services company has enabled Euroclear Finland, the National Central Securities Depository (CSD) of Finland, to integrate its core platform with the European securities settlement engine. This transformation program ensures easier cross-border settlements for investors in Finnish securities and has resulted in the most modern post-trade platform in Europe.
Cipla: The pharmaceutical company has registered 31.8 percent on-year growth in consolidated net profit at Rs 1,056 crore for the quarter ended December FY24, backed by double-digit growth in topline as well as operating numbers. Revenue from operations grew by 13.7 percent YoY.
Colgate-Palmolive India: The oral care company has clocked a 36 percent on-year growth in net profit at Rs 330.11 crore for the October–December FY24 quarter, backed by healthy operating numbers. Revenue from operations increased by 8 percent year-on-year to Rs 1,396 crore, with domestic net sales growth of 8.8 percent for the quarter.
Zee Entertainment Enterprises: Sony Group called off the December 22, 2021, agreement to merge Zee Entertainment and Culver Max Entertainment (CME), which was formerly known as Sony Pictures Networks India. Sony is seeking a termination fee of $90 million on account of alleged breaches by ZEEL of the terms of the MCA (Merger Co-operation Agreement), invoking arbitration, and seeking interim reliefs against ZEEL.
Coforge: The global IT solutions company has recorded 31.5 percent quarter-on-quarter growth in net profit at Rs 238 crore for the quarter ended December FY24, with healthy operating numbers. Revenue from operations increased by 2.1 percent QoQ to Rs 2,323.3 crore, while revenue in dollar terms increased by 1.4 percent QoQ to $282 million.
IDFC First Bank: The lender has recorded 18 percent on-year growth in profit at Rs 716 crore for the quarter ended December FY24, with core operating profit rising 24 percent to Rs 1,515 crore for the quarter. Net interest income in Q3 FY24 grew by 30 percent YoY to Rs 4,287 crore, with the net interest margin rising to 6.42 percent from 6.13 percent during the same period. Gross NPA dropped 7 bps sequentially to 2.04 percent, and net NPA was flat at 0.68 percent for the quarter.
Oberoi Realty: The Mumbai-based real estate developer has recorded a 49 percent on-year decline in net profit at Rs 360 crore for the October–December period of FY24, impacted by weak topline and operating numbers. Revenue from operations fell by 35.3 percent YoY to Rs 1,054 crore during the quarter.