Home Business Stocks in focus: Reliance Industries, Yes Bank, JSPL, Bajaj Auto, Muthoot Finance, SBI Life, MCX

Stocks in focus: Reliance Industries, Yes Bank, JSPL, Bajaj Auto, Muthoot Finance, SBI Life, MCX

Financial Express - Business News, Stock Market News

RIL, stocks in focusn yes bankAccording to a technical analyst, below 14750/50185 levels, correction is likely to continue up to 14550-14500 /49500-49200

Nifty futures were trading 52.50 points or 0.36 per cent lower at 14591 on Singaporean Exchange, indicating a weak start for BSE Sensex and Nifty 50 on Friday. Factors such as December quarter earnings by index heavyweight such as RIL, oil prices, rupee movement, newsflow related to COVID-19 vaccine and other global cues will set the market direction today. In the previous session, Indian share market indices hit record highs in intraday deals. According to Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, below 14750/50185 levels, correction is likely to continue up to 14550-14500 /49500-49200. On the other side, 14750/50185 would be the immediate hurdle for the bulls, above the same the index could rally till 14850 /50500.

Stocks in focus today:

RIL, Yes Bank: A total of 41 BSE-listed companies such as Reliance Industries Ltd, Yes Bank, SBI Life Insurance Company, Gland Pharma, HDFC Life Insurance Company, Oberoi Realty, Reliance Home Finance, among others are scheduled to announce their October-December quarter earnings today.

Future Retail: Future Retail’s Rs 24,713 crore-deal to sell its retail assets to billionaire Mukesh Ambani-led conglomerate Reliance Industries has got approvals from stock exchanges with certain riders. The indebted group will have to seek shareholders’ nod for the deal as well as get an approval from the National Company Law Tribunal (NCLT), according to a PTI report.

JSPL: Jindal Steel and Power Ltd reported a net profit of Rs 2,566.7 crore on a consolidated basis in the quarter ended December 31. It had incurred Rs 218.6-crore loss in the corresponding quarter a year ago.

Muthoot Finance: Muthoot Finance said the demand for gold loan is consistently rising. Managing director George Alexander Muthoot told FE the company is adding new customers to its gold loan business on a daily basis with small businesses and traders preferring it for a quick loan.

SBI Cards and Payment Services: SBI Cards and Payment Services Ltd on Thursday reported nearly 52 per cent dip in its net profit to Rs 210 crore in the third quarter ended December 2020, on higher provisioning. The pure-play credit card company, promoted by SBI, had posted a net profit of Rs 435 crore during the corresponding period of the previous financial year.

Reliance Power: Reliance Power posted nearly 6 per cent rise in consolidated net profit at Rs 52.29 crore for December quarter 2020 mainly due to higher revenues. The company logged a profit of Rs 49.38 crore in the year-ago period, a BSE filing said.

Bajaj Auto: Bajaj Auto reported a 23 per cent jump in profit after tax (PAT) at Rs 1,556 crore for the December 2020 quarter. The company had posted a profit after tax of Rs 1,262 crore in corresponding quarter of the previous financial year.

MCX: For the quarter ended December 31, 2020, MCX’s total income increased by 11 per cent to Rs 125.67 crore from Rs 112.74 crore over the corresponding quarter ended December 31, 2019. While the operating income registered a growth of 7 per cent to Rs 100.90 crore from Rs 94.11 crore in corresponding Q3 FY2020.

This article is auto-generated by Algorithm Source: www.financialexpress.com

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