Nifty futures were trading 107 points or 0.75 per cent higher at 14,464 on Singaporean Exchange, indicating a strong start for BSE Sensex and Nifty 50 on Monday. Markets are likely to remain volatile in this holiday-truncated week on the back of monthly derivatives expiry, ongoing corporate earnings and the Union Budget 2021. Equity markets will remain closed on Tuesday, on account of Republic Day. On the global front, the US Federal Reserve monetary policy is also due this week. According to the analysts, the Indian share market is overvalued from the short- term perspective while at high levels, it is vulnerable to a correction. This is the last week before the Budget 2021-22.
Stocks in focus today:
Reliance Industries Ltd: RIL announced its October-December quarter earnings post market hours on Friday. Markets will react to the RIL’s corporate earnings first thing today. The oil-to-telecom major posted a 12.55 per cent rise in its consolidated net profit to Rs 13,101 crore. Besides, Mukesh Ambani’s RIL has completed spin-off of the firm’s oil-to-chemical business into a new unit that will help it pursue growth opportunities with strategic partnerships.
Yes Bank: Yes Bank has reached the peak of asset quality stress after reporting heightened challenges in the December quarter earnings, even though there can be a jump in the gross non-performing assets (GNPA) ratio in the March quarter, PTI quoted a top official as saying.
L&T, Kotak Bank: A total of 41 BSE-listed companies including Larsen & Toubro, Kotak Mahindra Bank, ICICI Securities, UCO Bank, Can Fin Homes, Mahindra Holidays, Sharda Corpchem, APL Apollo Tubes, Navin Fluorine, among others are slated to announce their third-quarter earnings today.
Birla Corporation: Birla Corporation has reported an 82 per cent on-year jump in its consolidated net profit to Rs 148.42 crore for the third quarter this fiscal from Rs 81.49 crore for the same period last fiscal.
BPCL: Bharat Petroleum Corporation Ltd expects to expand its customer base 10-fold to one million under a new customer loyalty campaign, PTI cited a senior company official as saying. The new campaign ‘Get 100X Bonus Petromiles’ under its programme ‘SmartDrive’ will offer customers benefits like extra bonus reward points on each transaction of fuel purchase through a scratch card in the SmartDrive App.
Apollo Hospital Enterprise Ltd: The fundraising committee on January 23, 2021, approved allotment of 46.59 lakh equity shares of face value 5 each to eligible qualified institutional buyers at the issue price of Rs 2,511 per equity share, a premium of 2,506 per equity share aggregating to 1,169.9 crore.
Hinduja Global Services (HGS): HGS said its UK unit has acquired 8.23 per cent stake in HGS Digital LLC. Hinduja Global Solutions UK Ltd already held 91.77 per cent equity interest in HGS Digital LLC (formerly known as Element Solutions LLC, USA).
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