Reliance Industries, State Bank of India, Paytm, IndiGo, TVS Motor among stocks in focus today

Ahead of the day’s trade, SGX Nifty was down in the red with losses, hinting at a weak start on Dalal Street.

Domestic equity markets enter Monday’s trading session after having ended in the red for two consecutive days. S&P BSE Sensex is currently sitting at 58,644 while the NSE Nifty 50 index is at 17,516. India VIX, the volatility gauge, is just shy of 19 levels. Ahead of the week’s first trading session, SGX Nifty was down in the red with losses, hinting at a weak start on Dalal Street. Global cues were mixed after Dow Jones closed in the red on Friday while NASDAQ and S&P 500 gained. Among Asian stock markets, KOSPI and KOSDAQ were in red along with Nikkei 225 and TOPIX. On the other hand, Shanghai Composite was up in the green.

Reliance Industries: Mukesh Ambani’s RIL on Friday evening announced that Jio Platforms will invest $15 million in Two Platforms — a Silicon Valley-based deep tech startup founded by Pranav Mistry — for a 25% equity stake on a fully diluted basis.

State Bank of India: The country’s largest public-sector lender has reported a 62.27% jump in standalone net profit at Rs 8,432 crore for the October-December quarter, helped by lower provisions. The bank’s Q3 net profit is the highest ever quarterly profit reported by the lender.

Paytm: One97 Communications, the parent company of Paytm has reported a net loss of Rs 778 crore in the third quarter of the current fiscal year. Paytm had registered a loss of Rs 535.5 crore in the same period a year ago. Paytm’s consolidated revenue from operations, increased by about 88% to Rs 1,456 crore.

InterGlobe Aviation: Helped by higher passenger revenues, the country’s largest domestic carrier IndiGo on Friday posted a net profit of Rs 129.8 crore in the three months ended December 2021. The airline has also appointed Co-Founder Rahul Bhatia as Managing Director with immediate effect.

Hospitality stocks: India Ratings and Research (Ind-Ra) on Friday said the third wave of Covid-19 is likely to impact the operating metrics of the hotel industry in the fourth quarter of this financial year, but the effect will be less in the April-June period of due to easing of restrictions. Ind-Ra expects a 25-30% drop in revenue in the January-March quarter. ITC, Indian Hotels are some of the stocks to watch.

Results today: Union Bank of India, TVS Motor Company, NALCO, Borosil, Camlin Fine Sciences, Castrol India, Chemcon Speciality Chemicals, Clean Science and Technology, Fortis Malar Hospitals, Future Supply Chain Solutions, Gabriel India, Glaxosmithkline Pharmaceuticals, Indo Count Industries, Indian Bank, JM Financial, Jindal Stainless, Lasa Supergenerics, Likhitha Infrastructure, Nucleus Software Exports, Paisalo Digital, Peninsula Land, The Phoenix Mills, PB Fintech, Punjab & Sind Bank, and Sansera Engineering are some of the companies that will report their results today.

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