Finance minister Nirmala Sitharaman will present the Budget in Parliament today. The budget comes at a time when the country is facing a once-in-a-lifetime health crisis. Ms Sitharaman will have the unenviable task of managing the government’s battered finances and ensuring a recovery in demand, in an economy facing its worst contraction since 1952.
The stock market is expected to open in the red on February 1, ahead of the Budget. The SGX Nifty trends indicate a negative opening for the index in India, with a 41-point loss.
The BSE Sensex had plunged 588.59 points, or 1.26 per cent, to 46,285.77 and the Nifty had fallen 182.90 points or 1.32 per cent, to 13,634.60.
Stocks to watch in today’s session:
Tata Motors’ net profit rose 67 per cent to Rs 2,906.5 crore in the December quarter from Rs 1,738.3 crore, while revenue rose 5.5 percent to Rs 75,653.79 crore from Rs 71,676.07 crore.
Tech Mahindra’s consolidated net profit in the December quarter rose 23 per cent to Rs 1,309.8 crore from Rs 1,064.6 crore, while revenue increased 2.9 percent to Rs 9,647.1 crore from Rs 9,371.8 crore.
ICICI Bank’s net profit in Q3FY21 rose 19.1 percent to Rs 4,939.6 crore from Rs 4,146.5 crore, while net interest income rose 16 percent to Rs 9,912.5 crore from Rs 8,545.3 crore, YoY.
Cipla reported sharply higher net profit at Rs 748.2 crore in Q3FY21 as against Rs 351 crore in Q3FY20, while revenue jumped 18.2 percent to Rs 5,168.7 crore from Rs 4,371 crore, YoY.
Vedanta reported higher profit at Rs 4,224 crore in Q3FY21 as against Rs 2,665 crore in Q3FY20, while revenue increased to Rs 22,498 crore from Rs 21,126 crore, YoY.