GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Friday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty was trading 65 points or 0.28% lower at 23,323 indicating a lower start for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 closed the session 98.60 points or 0.42% higher at 23,311.80, while the BSE Sensex rose 318.74 points or 0.42% to close at 77,042.82.
Stocks to watch on January 17, 2024 Reliance Industry
The company’s profit jumped 11.7% YoY to Rs 21,930 crore from Rs 19,641 crore. The big contribution came from the company’s digital services and festive demand for the retail business. The Oil & Gas segment revenue for Q3 was lower by 5.2% YoY at Rs 6,370 crore ($744 million), mainly on account of lower volume of gas and condensate in KGD6, lower realisation for CBM Gas and Condensate.
Infosys
Infosys reported 11% YoY growth in its consolidated net profit at Rs 6,806 crore, while revenue from operations increased 8% YoY to Rs 41,764 crore. The company revised its FY25 revenue guidance to 4.5%- 5.0% in constant currency from an earlier 3.75%-4.5%. It, however, maintained an operating margin of 20- 22 per cent.
DB Corp
DB Corp Ltd posted a net profit of Rs 118.21 crore, a drop of 4.65% in comparison to Rs 123.98 crore during the third quarter of FY24. It posted revenue from operations at Rs 642.65 crore, down 0.32% as against Rs 644.71 crore during the same period of the previous financial year, on an election-filled high base of last year.
Shoppers Stop
Shoppers Stop said that it was at the end of its store closure cycle that had been initiated over the last few months to improve profitability. In an earnings call, MD & CEO Kavindra Mishra said the retailer was looking to add up to 15 stores in FY26.
Spencer’s Retail
Spencer’s Retail Ltd reported a net loss of Rs 47.34 crore, narrowed from a loss of Rs 51.20 crore recorded during the third quarter of FY24. Its revenue from operations stands at Rs 516.97 crore, a drop of 20.95% as against Rs 654.01 crore during the same period of the previous financial year.
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