Stock Market Today: The GIFT Nifty on the NSE IX increased by 53.5 points, or 0.25 percent, at 21,757.50, indicating that Dalal Street was likely to have a poor start to the week. On Thursday, the Nifty dropped more than 200 points, creating a powerful bearish candle on the daily chart that could offset the intermediate optimistic undertone. Today is the day that many firms, including Hero MotoCorp, Honasa Consumer, IRFC, Tata Power, and many more, will release their third quarter earnings. On Friday, as traders reduced their bets on the timing of the Federal Reserve’s rate hike and the Bank of Japan’s rate rise, the dollar edged closer to a fourth weekly gain as the yen tumbled near a 10-week low.
Stock Market Today: Stocks in focus
Apollo Hospitals
For the quarter that concluded in December, Apollo Hospitals Enterprise recorded a 59% YoY increase in consolidated net profit to Rs 245 crore. Zomato, a food delivery startup, outperformed analysts in its third quarter results on to strong growth in its hyperpure and food delivery businesses.
Patanjali Foods
On Thursday, Patanjali Foods revealed that its net profit for the quarter that concluded in December dropped 19.3% year over year to Rs 217 crore. Operating revenue decreased by 0.2% to Rs 7,911 crore.
Biocon
In the third quarter, Biocon declared a net profit of Rs 660 crore. The total operating revenue was Rs 3,954 crore. The net profit of RVNL decreased by 6% to Rs 359 crore during the October–December quarter. Additionally, revenues fell by 6% to Rs 4,689 crore.
Grasim
For the quarter that concluded in December, Grasim Industries recorded a steep 40% YoY decline in total net profit to Rs 1,514.44 crore. The total revenue climbed to Rs 31,965.50 crore, about a 12% increase.
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