Adani Enterprises, Coal India, Sun Pharma and other stocks in news today
Indian equity markets are expected to open in the green as SGX Nifty is trading in the green.. The BSE Sensex gained 50 points to 59,550, while the Nifty50 inched 13 points at 17,662 on tuesday.
Major US stocks indexes closed over 1 percent higher on Tuesday as labour cost data encouraged investors about the Federal Reserve’s aggressive approach to taming inflation a day ahead of the central bank’s critical policy decision.
the Dow Jones Industrial Average rose 368.95 points, or 1.09 percent, to 34,086.04, the S&P 500 gained 58.83 points, or 1.46 percent, to 4,076.6 and the Nasdaq Composite added 190.74 points, or 1.67 percent, to 11,584.55.
Asia-Pacific shares traded higher as investors looked ahead to the Federal Reserve’s Wednesday meeting, as well as some economic data in the region.
Stocks in news
Coal India: State-owend Coal India has reported a consolidated net profit of Rs 7,755.55 crore for the third quarter (Q3FY23), up 70% from Rs 4,558.39 crore in the corresponding quater of last year, as production at the company increased due to higher power demand amid extreme weather conditions.
adani Enterprises: The Rs 20,000 crore FPO was fully subscribed on the last day despite negative sentiments due to the Hindenburg report. the subscription was led by non-institutional investors. While the demand from retail investors remained low, the non-institutional category was over-subscribed.
Infosys: Software services major Infosys on Tuesday said it has appealed against a corporation tax assessment by the UK authorities as British media reports referenced the company’s annual report to reveal the dispute. Reports are flagging that the firm co-founded by British Prime Minister Rishi Sunak’s father-in-law, Narayana Murthy, was contesting a GBP 20 million tax bill with His Majesty’s Revenue and Customs (HMRC) department.
Jindal Steel: Jindal Steel on Tuesday reported a 67.9% decline in consolidated net profit to Rs 518.67 crore for the December 2022 quater. This is against a net profit of Rs 1616.67 crore in the year ago period.
KPIT Technologies: The IT services company has registered a 20.4% sequential growth in profit at Rs 100.5 crore with revenue rising.
Procter & Gamble Hygiene & Health Care: The FMCG company recorded a 202% year-on-year decline in Profit at Rs 207.5 crore for quarter ended December FY23 hit by weak operating marging and muted topline groeth.
Sterlite Technologies: The company has signed an agreement to sell its telecom product software business via business transfer agreement by way of slump sale as a going concern to skyvera through its Indian subsidiary. The company will receive $15 million from the sale of telecom product software business.
Sun Pharma reported consolidated net profit of Rs 2,166 crore for the quater ended December 2022, up 5% when compared with the previous year period. The profit was Rs 2,058 crore in the same quarter last year.
Reliance Industries has stopped selling petroleum coke within india and boosted imports of the product to turn it into synthetic gas to power its refineries, Reuters reported citing sources.
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