Dalal Street benchmark indices ended their three-day losing streak on Tuesday as indices emerged from the red and closed with gains in the dying minutes of trade. BSE Sensex ended 187 points or 0.33% higher at 57,808 while NSE Nifty 50 closed 53 points or 0.31% higher at 17,266. Bank Nifty managed to close above the 38,000 mark. Ahead of Wednesday’s trade, SGX Nifty was up in the green, hinting at a positive start to the day’s trade. Global cues were largely positive after Dow Jones, S&P 500, and the NASDAQ ended the previous session in green. Among Asian stock markets Hang Seng, TOPIX, Nikkei 225, KOSPI, and KOSDAQ were all inthe green. Shanghai Composite was down with losses.
Vedanta: Anil Agarwal led Vedanta on Tuesday said that it has a review of the corporate structure and concluded that the current structure is optimal. Earlier in November last year, the company had decided to undertake a review of the corporate structure and evaluate the full range of options and alternatives to unlock value and simplify the corporate structure.
Bharti Airtel: Telecom major Bharti Airtel on Tuesday reported a 27% drop in net profit to Rs 830 crore. The company had reported a one-time gain of Rs 722 crore on account of spectrum sale to Reliance Jio in the previous quarter. Consolidated revenues rose 5.4% on a sequential basis to Rs 29,867 crore.
IRCTC: State-owned IRCTC on Tuesday reported a net profit of Rs 208 crore up from Rs 78 crore in the same period last year. The total income of the company increased to Rs 556 crore from Rs 245 crore in the year-ago period. IRCTC also announced an interim dividend of Rs 2 per share which will be distributed on February 18.
Bajaj Electricals: The company will demerge its power transmission and distribution (T&D) business into a separate company in a move to create a sector-focused firm and streamline the management structure. The company’s board approved the scheme of arrangement on Tuesday.
Godrej Consumer Products: FMCG major reported a 4.93% increase in consolidated net profit at Rs 527.60 crore for the October-December quarter. Its total revenue from operations was up 8.08% at Rs 3,302.58 crore during the quarter.
Results today: ACC, Abbott India, Aurobindo Pharma, Bosch, Jindal Stainless (Hisar), Nuvoco Vistas, Nykaa, Paras Defence and Space Technologies, SAIL, Solara Active Pharma, and Tata Power are some of the companies that will report their quarterly earnings today.