The stock market on Wednesday witnessed a sharp decline for the fourth consecutive session. Following the same trend, the indices on Thursday, January 28 are expected to open in red as the SGX Nifty indicated a lower opening for the domestic market. The SGX Nifty was trading 116.00 points lower at 13,864.00. On January 27, the BSE Sensex plunged 937.66 points or 1.94 percent to close at 47,409.93. Similarly, the NSE Nifty fell 271.40 points or 1.91 percent to end below 14,000 mark at 13,967.50.
Top stocks to look for the day are:
Hindustan Unilever: FMCG major Hindustan Unilever (HUL) posted a hike of 19 percent in its profit standing at Rs 1,921 crore for the December quarter compared to Rs 1,616 crore in Q3FY20. The revenue of the company also jumped 21 percent to Rs 11,862 crore from Rs 9,808 crore in the year-ago period.
State Bank of India: The bank has appointed Swaminathan Janakiraman and Aswini Kumar Tewari as Managing Directors for three years.
NTPC: The company started the commercial operations of its 140 MW solar photovoltaic project in Uttar Pradesh.
Axis Bank: The bank released its quarterly result on Wednesday and reported a sharply lower profit at Rs 1,116.6 crore for Q3FY21 declining 36.4 percent against Rs 1,757 crore logged in the corresponding quarter of the previous fiscal. However, the net interest income (NII) of the bank rose to Rs 7,372.7 crore from Rs 6,453 crore on YoY basis.
Tata Coffee: The company in its quarterly results reported a higher consolidated profit of Rs 31.5 crore in Q3FY21 against Rs 24.9 crore in the same quarter of the previous fiscal.
Hero MotoCorp: The company is soon planning to start operations in Mexico and has also entered into a distribution agreement with Grupo Salinas for the same.
Aditya Birla Fashion and Retail: The company has spent Rs 398 crore to acquire 51 percent stake in luxury designer brand Sabyasachi.
JK Paper: The consolidated profit of the company stood at Rs 65.9 crore in the December Quarter against Rs 131.9 crore in Q3FY20. The revenue of the company also declined to Rs 744.9 crore from Rs 820.6 crore on yearly basis.
Quarterly Results: Maruti Suzuki India, Lupin, InterGlobe Aviation, Colgate-Palmolive, 3i Infotech, Angel Broking, Bharat Electronics, CCL Products, Equitas Small Finance Bank, Granules India, IDBI Bank, Indus Towers, IRCTC, Mahindra & Mahindra Financial Services, Pidilite Industries, TVS Motor Company, etc will announce their quarterly earnings on January 28.