Stock market regained all its previous losses to hit an all-time high on Wednesday after rallying for the second consecutive session. The Indian stock market is expected to follow the same trend on January 21 (Thursday) as the SGX Nifty indicated a positive opening for the domestic market as it was trading 63.00 points or 0.43 percent higher at 14,707.00.
On January 20, the benchmark indices closed at a record high. The BSE Sensex closed at 49,792.12 witnessing an increase of 393.83 points or 0.80 percent. Similarly, the NSE Nifty rallied 123.55 points or 0.85 percent to close at 14,644.70.
Here are the top stocks to look for the day:
Axis Bank: Competition Commission of India (CCI), a fair trade regulator, has approved Axis Bank, Axis Capital and Axis Securities for stake acquisition in Max Life Insurance. The bank has also introduced the Aura credit cardwith health and wellness benefits on Wednesday.
L&T Technology Services: The company reported profit at Rs 186.1 crore, higher by 12.4 percent in Q3FY21 against Rs 165.5 crore in Q2FY21. The revenue of the company also rose 6.6 percent to Rs 1,400.7 crore from Rs 1,313.8 crore QoQ.
Aditya Birla Fashion: Flipkart will be acquiring 7.8 percent stake in Aditya Birla Fashion, as approved by the Competition Commission of India (CCI).
Havells India: The company released its December quarter results on January 20 and has reported higher profit at Rs 350.1 crore in Q3FY21 against Rs 200.6 crore in Q3FY20. The revenue of the company jumped to Rs 3,175.2 crore on YoY basis.
Phillips Carbon Black: Announcing its quarterly results on Wednesday, the company reported sharply higher consolidated profit at Rs 125.44 crore in Q3FY21. The revenue rose to Rs 769.4 crore YoY.
Bajaj Finance: The company reported a fall of 29 percent in its consolidated net profit which stood at Rs 1,146 crore in Q3FY21 against Rs 1,614 crore. The revenue of the company also fell to Rs 4,296 crore from Rs 4,535 crore YoY.
Quarterly Results: Asian Paints, Bajaj Auto, MCX India, SBI Cards and payment services, Bandhan Bank, Biocon, Jindal Steel and Power, JK Tyre and Industries, are some of the companies which will release their quarterly earnings on Thursday.