New Delhi: Domestic stock indices are expected to trade in the green on Tuesday, ahead of the announcement of the Union Budget 2022-23. Asian Stock Market closed on a positive note, with Japan’s Nikkei up 0.71 percent and South Korea’s KOSPI up 1.87 percent. Trends on the SGX Nifty showed a favorable start for the domestic markets. The Singapore Exchange Nifty Futures, commonly known as the SGX Nifty Futures, rose 126.25 points, or 0.73 percent, to 17,494.
The benchmark BSE Sensex rose 814 points, or 1.42 percent, to 58,014 on Monday, while the wider NSE Nifty rose 238 points, or 1.39 percent, to 17,340.
Here Are Stock Markets To Watch During Today’s Session:
Tata Motors: The manufacturer has declared a loss for the third quarter (Q3), owing to chip shortages. It hampered the Indian automaker’s ability to capitalise on pandemic-driven demand for personal automobiles. For the quarter ended December 31, the consolidated net loss was 1,516 crore ($203.23 million). As compared to a profit of 2,906 crore a year earlier, the coronavirus-related restrictions led to an increase in sales.
Sun Pharma: The Mumbai-based pharmaceutical company increased its consolidated net profit by 11.14 percent to 2,058.8 crore.
Tech Mahindra: The IT firm announced the acquisition of a 100% investment in Europe-based Com Tec Co IT (CTC) and a 25% stake in two insurrect platforms for a total of EUR 330 million (about Rs 2,800 crore).
IOC: Indian Oil Corp Ltd, the country’s largest refiner, reported a 19.2% increase in third-quarter net profit. The state-owned firm reported a net profit of 5,861 crore ($784.45 million).
Meanwhile, Adani Ports, Indian Hotels, Indoco Remedies, and Tech Mahindra will release their December quarter results later in the day.