Indian benchmark indices are likely to open higher as SGX Nifty rose 54 points to 17,966 level amid mixed global cues.
Indian market ended lower for the third consecutive session on Thursday, tracking losses in index majors ICICI Bank, HDFC and SBI.
Sensex closed 433.13 points lower at 59,919 and Nifty fell 143.60 points to 17,873.60. SBI was the top Sensex loser, shedding 2.83 per cent, followed by Bajaj Finserv, Tech Mahindra, Sun Pharma, Bajaj Finance and Axis Bank.
Here are the stocks that are likely to be in focus today.
Zomato: Online food aggregator Zomato has decided to shut down all its international businesses. Zomato has also shut down its direct-to-consumer (D2C) experiment in Nutraceuticals.
“We are also shutting down our operations in Lebanon, which is the only international business we were left with (other than dining-out business in UAE) after shutting down the rest of our international operations last year,” Zomato said in a release.
Coal India: The company will announce its earnings for the quarter ended September 2021.
Tata Steel: Steel behemoth Tata Steel has reported a standalone net profit for the July-September quarter at Rs 8,843 crore as compared to Rs 9,112 crore in Q1 FY22 and Rs 2,598 crore in Q2 FY21. On a consolidated basis, Tata Steel’s profit stood at Rs 12,548 crore in Q2, while consolidated revenue stood at Rs 60,283 crore.
The steel major’s quarterly turnover stood at Rs 34,220 crore vs Rs 29,284 crore in the previous quarter and Rs 22,787 crore during the same quarter last year. The adjusted EBITDA for the said quarter stood at Rs 13,877 crore vs Rs 13,595 crore in the previous quarter and Rs 6,017 crore in the same quarter last year.
Zee Entertainment Enterprises: The company posted a 187.19 per cent year-on-year (YoY) growth in consolidated net profit to Rs 270.2 crore for the quarter ended September 30. It had posted a profit of Rs 94.07 crore in the same period last year.
Consolidated revenue from operations witnessed an increase of around 15 per cent year-on-year to Rs 1,978.80 crore. On the other hand, subscription revenues declined by 1.5 per cent. “Delay in NTO 2.0 implementation continues to impact pricing. The new implementation timeline for NTO 2.0 implementation is April 01, 2022,” Zee Entertainment said.
Page Industries: Page Industries has appointed Rohan Genomal as Executive Director-Strategy for five years, effective November 11, 2021.
Rohan Genomal is presently Head-Strategy of Page Industries. He joined the company in September 2014 and assumed roles in e-commerce, product management and helped in growing the business excellence department.
M&M: Mahindra & Mahindra Ltd (M&M) reported the sale of 15,077 commercial vehicles in October 2021, compared to 20,598 in October 2020. The company revealed the production, sales and export figures for October 2021 on Thursday.
The exports of commercial vehicles increased by 88 per cent from 1,153 units in October 2020 to 2,172 units in October 2021.
Adani Group: Billionaire Gautam Adani on Thursday said his logistics-to-energy conglomerate will invest USD 70 billion over the next decade to become the world’s largest renewable energy company and produce the cheapest hydrogen on the Earth. Adani Green Energy Ltd (AGEL), the world’s largest solar power developer, is targeting 45 gigawatts of renewable energy capacity by 2030 and will invest USD 20 billion to develop a 2 GW per year solar manufacturing capacity by 2022-23.
ONGC: India’s petroleum ministry has asked state-run explorer Oil and Natural Gas Corp to consider selling a 60% stake in its two major oil and gas fields to private companies to boost output, a government source said on Thursday.
India, the world’s third biggest oil consumer and importer, wants to quickly monetise its oil and gas reserves and has been asking ONGC for years to raise production.