Stock market today: The Indian stock market is likely to open on a flat note on Thursday, tracking weak cues from global markets.
Asian markets traded mixed on Thursday, while US stocks closed mostly lower overnight amid continued selling pressure in technology shares.
On Wednesday, the Indian stock market closed marginally higher, amid mixed cues from global markets. The Sensex gained 79 points, or 0.09%, to settle at 83,817.69, while the Nifty 50 advanced 48 points, or 0.19%, to finish at 25,776.
“Markets traded range-bound on Wednesday as investors assessed follow-through activity after Tuesday’s strong rally triggered by the India–US trade deal. After a flat start, the Nifty oscillated within a narrow band through the session and ended marginally higher at 25,779.5. Sectoral trends were mixed, with buying interest visible in auto, metal and energy stocks, while the IT index declined sharply and underperformed the broader market. Market breadth remained firmly positive, supported by a sustained rebound in midcap and smallcap stocks,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Stocks to watch
Against this backdrop, here’s a list of stocks that may attract investor interest and are likely to move today.
Bharti Airtel, Nykaa, Hero Motocorp, LIC, IOC, Tata Motors Passenger Vehicles
Shares of Bharti Airtel, Nykaa, Hero Motocorp, LIC, IOC, Tata Motors Passenger Vehicles will remain in focus as companies will delcare their Q3 results today
Trent
The Tata Group company posted a 14.8% increase in revenue in the December quarter, while its EBITDA jumped 27.6% to ₹1,081.7 crore.
Tata Power
The company reported a marginal 0.6% rise in profit to ₹1,194.3 crore, compared with ₹1,187.5 crore in the corresponding period earlier. However, revenue declined sharply by 9.4% to ₹13,948.4 crore, down from ₹15,391 crore in the year-ago period.
Marico
The company has signed definitive agreements to undertake a strategic investment in Cosmix Wellness, the owner of Cosmix, a leading digital-first functional wellness brand in India.
NHPC
The board has cleared the proposal to cancel the memorandum of understanding between NHPC and the Green Energy Development Corporation of Odisha for setting up a joint venture to execute solar power projects in Odisha.
Power Grid Corporation of India
Power Grid announced that the Ministry of Corporate Affairs has approved the merger of 17 subsidiaries into two entities.
Cummins
Cummins posted an 11.9% year-on-year drop in net profit for the third quarter, with earnings slipping to ₹453 crore from ₹514 crore in the corresponding period last year.
Sterlite Technologies
The board is scheduled to meet on February 7 to evaluate a proposal to raise funds by issuing equity shares, warrants, or convertible securities to the promoters through a preferential allotment.
NSDL
As many as 149.2 million shares of the company, representing 75% of its total outstanding equity, are set to become available for trading when the six-month shareholder lock-in expires on Thursday.
Emami
The company reported a 15% rise in its consolidated net profit for the December quarter, with earnings increasing to ₹319 crore from ₹279 crore in the same period last year.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
