Stocks To Watch: Tata Motors, Sun Pharma, Tech Mahindra, Indian Oil Corp

Edited by Prashun Talukdar

01 Feb 2022, 08:39 AM IST

Trends on SGX Nifty indicated a positive opening for the domestic markets.

New Delhi: The domestic stock indices are likely to trade in green on Tuesday ahead of the Union Budget 2022-23 presentation. Asian share markets traded on a higher note as Japan's Nikkei was up 0.71 per cent and South Korea's KOSPI surged 1.87 per cent. Trends on SGX Nifty indicated a positive opening for the markets back home. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures jumped 126.25 points or 0.73 per cent to 17,494.

The benchmark BSE Sensex had rallied 814 points or 1.42 per cent to settle at 58,014 on Monday; while the broader NSE Nifty had moved 238 points or 1.39 per cent higher to close at 17,340.

Here Are Stocks To Watch During Today's Session:

Tata Motors: The carmaker has reported a loss for the third quarter (Q3), as semiconductor shortages crimped the Indian automaker's ability to take advantage of the pandemic-driven demand for personal vehicles. Consolidated net loss came in at Rs 1,516 crore ($203.23 million) for the quarter ended December 31, compared to a profit of Rs 2,906 crore a year earlier when an easing of coronavirus-related restrictions had led to a pick-up in sales.

Sun Pharma: The Mumbai-based drug major has posted an 11.14 per cent increase in its consolidated net profit to Rs 2,058.8 crore for the third quarter ended on December 31, 2021, on the back of robust sales across domestic and international markets.

Tech Mahindra: The IT company has announced acquisition of 100 per cent stake in Europe-based Com Tec Co IT (CTC) and 25 per cent stake in two insurtech platforms for a total of EUR 330 million (about Rs 2,800 crore).

IOC: Indian Oil Corp Ltd, the country's top refiner, has reported a 19.2 per cent rise in its third-quarter net profit. The state-owned company posted a net profit of Rs 5,861 crore ($784.45 million) for the quarter ended December 31, compared with Rs 4,917 crore a year earlier.

UPL: Agro-chemical firm UPL has reported 24.89 per cent growth in consolidated net profit at Rs 1,179 crore for December quarter 2021-22. The company's profit stood at Rs 944 crore in the year-ago period.

Meanwhile, Adani Ports, Indian Hotels, Indoco Remedies and Tech Mahindra are among the companies which will announce their December quarter results later in the day.