Punjab National Bank, Bharti Airtel, Kotak Mahindra Bank, Vedanta among stocks in focus today

Entering Friday’s session, SGX Nifty was trading flat with marginal gains, hinting at a flat to a positive start to the day’s trade.

Stocks in focus
Global cues were mixed on Friday morning. (Image: REUTERS)

Sensex and Nifty continue to remain in the grip of bears but yesterday’s bounceback from lows gives investors some hope. S&P BSE Sensex closed the monthly futures and options session 1% lower at 57,276 while the NSE Nifty 50 ended 0.97% in red at 17,110. Bank Nifty ended with gains. Entering Friday’s session, SGX Nifty was trading flat with marginal gains, hinting at a flat to a positive start to the day’s trade. Global cues were mixed after Wall Street equity indices closed in the red but some Asian markets were inching higher. 

Punjab National Bank: The lender reported a two-fold jump in net profit in the October-December quarter as bad loans declined. The bank reported a standalone net profit of Rs 1,126.78 crore. In absolute value, gross NPAs stood at Rs 97,258.67 crore by the end of December 2021 as against Rs 94,479.33 crore by the year-ago same period.

RBL Bank: Private sector lender RBL Bank reported a 17.20% fall in its October-December quarter net profit at Rs 121.61 crore on slower loan growth and a rise in operating expenses. The bank was in focus earlier when RBI had to step in and appoint an Additional Director to the bank. 

Dalmia Bharat: Dalmia Bharat reported a decline in net profit during the October-December quarter. The company reported a net profit of Rs 73 crore in the quarter against Rs 179 crore in the year-ago period. 

Bharti Airtel, Jio, Vodafone Idea: The Telecom Regulatory Authority of India (TRAI) has asked telcos to offer pre-paid subscribers at least one plan voucher, one special tariff voucher and one combo voucher that will be renewable on the same date every month. This would offer pre-paid subscribers a billing cycle that is similar to what post-paid subscribers get. 

Future Retail: The Supreme Court will hear Kishore Biyani-led Future Retail’s plea against being declared a defaulter on Monday. The company owes Rs 3,495 crore to 26 lenders.

Motilal Oswal Financial Services: Motilal Oswal reported that in the October-December quarter consolidated revenues grew by 47% on-year at Rs 1,122 crore while consolidated net profit stood at Rs 238 crore. 

Results today: Kotak Mahindra Bank, Larsen & Toubro, Dr Reddy’s Labs, Britannia Industries, Vedanta, 3i Infotech, Aptus Value Housing Finance, Arvind SmartSpaces, Asahi India Glass, Atul, AU Small Finance Bank, Bajaj Healthcare, Bharat Electronics, Blue Dart Express, CARE Ratings, Central Bank of India, Chambal Fertilisers, Chemplast Sanmar, Crompton Greaves Consumer Electricals, Deepak Fertilisers, Dixon Technologies, Equitas Small Finance Bank, Happiest Minds Technologies, Karnataka Bank, Marico, Max Financial Services, Info Edge, Oberoi Realty, Suzlon Energy, Tata Coffee, United Breweries, UTI Asset Management Company, and Zenotech Laboratories will announce their quarterly earnings today.

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