The domestic stock markets are likely to open in the green, going by positive Asian cues and early indications from SGX Nifty futures trading. Trends on SGX Nifty indicate a positive opening for the index in India, with a 91-point gain. At 7:30 am, the Nifty futures were trading at 13,367, higher by 91 points or 0.87 per cent, on the Singapore Stock Exchange. Asian share markets also edged ahead on Tuesday as investors wagered China’s economic strength would help underpin growth in the region, even as pandemic lockdowns threatened to lengthen the road to recovery in the West.
On Monday, the BSE Sensex had declined 470.40 points or 0.96 per cent to 48,564.27 and NSE Nifty had dipped 152.40 points or 1.06 per cent to 14,281.30.
Stocks to watch in trade in Tuesday’s session (January 19, 2021):
Mindtree, the information technology company owned by Larsen & Toubro (L&T), posted a 65.7 per cent year-on-year rise in net profit to Rs 326.5 crore for the third quarter ended December on the back of improvement in operational efficiencies. On a sequential basis, Mindtree’s net profit was up 28.7 per cent. The company’s revenue for the quarter stood at Rs 2,023.7 crore, up 5 per cent sequentially and 3 per cent on an annual basis, driven by broad-based growth across verticals and service lines.
Maruti Suzuki, the country’s largest carmaker said on Monday that it has increased the prices of select models by up to Rs 34,000 to offset adverse impact of rising input costs. The new prices are effective from January 18, 2021.
The board of Gail India has unanimously approved a proposal for the buyback of 6,97,56,641 equity shares at a price of Rs 150 per share, for up to Rs 1,046.35 crore.
Indiabulls Real Estate
Indiabulls Real Estate reported a 64 per cent rise in consolidated net profit to Rs 80.69 crore for the quarter ended December 2020. The company’s total income was Rs 756.81 crore during the third quarter of the fiscal year, against Rs 1,317.70 crore a year ago.
Apollo Hospitals has informed exchanges that its board will meet on January 22 to consider fund raising plan via qualified institutional placement of equity shares.