The Indian stock market is expected to open in the green with the indices hitting new highs during the trading session. The S&P BSE Sensex climbed 358.54 points to 50,614.29 on Friday, February 5. While, the Nifty-50 rose 105.70 points to 14,895.70. On February 3, the Sensex jumped 359 points to scale a new lifetime high on Thursday.
Similarly, the key support levels for the NSE Nifty rallied at 14,769.1, followed by 14,642.5. The Nifty50 hit a fresh record peak of 14,895.70 earlier in the day. However, if the index moves up, the key resistance levels to watch out will be at 14,968 and 15,040.3.
The market is all set for – Britannia Industries, Mahindra & Mahindra, Punjab National Bank, Aditya Birla Capital, Alkem Laboratories, Ashoka Buildcon, Mrs Bectors Food Specialities, Cadila Healthcare, CG Power and Industrial Solutions, Equitas Holdings, Future Consumer, Fortis Healthcare, Gati, GSK Pharmaceuticals, Gujarat Gas, Jubilant Life Sciences, Narayana Hrudayalaya, Pfizer, RCF, Shipping Corporation of India, etc. These are among 127 other companies that are scheduled to release their quarterly earnings.
Top stocks to look for the day are:
Container Corporation of India: The Navratna PSU reported higher consolidated profit at Rs 234.3 crore in Q3FY21 against Rs 180.9 crore in Q3FY20. Its revenue rose to Rs 1,766.9 crore from Rs 1,544.7 crore.
PSP Projects: The company received fresh work orders worth Rs 236 crore for an institutional project in Gujarat. It is L1 bidder for projects worth Rs 420.89 crore medical colleges construction in the state of Uttar Pradesh.
Bharat Electronics: The state-owned aerospace and defence company entered into an offset contract with Russian company JSC Rosoboronexport.
Tata Power: Reported higher consolidated profit at Rs 318.4 crore in Q3 FY21 against Rs 260.1 crore in Q3 FY20. Meanwhile, the company’s revenue increased to Rs 7,597.9 crore from Rs 7,071 crore YoY.
Hero MotoCorp: The company’s Q3 net profit was up 23.2 percent at Rs 1,084.5 crore against Rs 880.4 crore. The two-wheeler giant’ revenue gained 39.7 percent at Rs 9,775.8 crore against Rs 6.996.7 crore YoY. Its EBITDA toorose 36.1 percent at Rs 1,413.6 crore against Rs 1,038.9 crore YoY.
Stove Kraft: The company will list for equity shares on February 5.
Vedanta: The board approved expansion of its Lanjigarh alumina refinery at a cost of Rs 3,779 crore to increase productivity from 2 MTPA to 5 MTPA.
Gillette India: The company reported higher profit at Rs 41.3 crore in December quarter 2020 against Rs 18.8 crore in the same period in 2019. It also noticed its revenue increase to Rs 520.4 crore from Rs 459.3 crore YoY.
Biocon: The Indian bio-pharmaceutical giant signed an agreement with the Clinton Health Access Initiative (CHAI), to expand access to lifesaving cancer biosimilars in over 30 countries in Africa & Asia.
Trent: The retail hand of Tata group reported higher consolidated profit at Rs 64 crore in Q3 FY21 against Rs 49.2 crore in Q3 FY20. But its revenue fell to Rs 853.6 crore from Rs 988.3 crore YoY.
Godrej Agrovet: The company reported a higher consolidated profit at Rs 68 crore in Q3 FY21 against Rs 51.2 crore in Q3 FY20. While it also reported its revenue falling to Rs 1,526.2 crore from Rs 1,782.7 crore YoY.
Adani Transmission: The company reported a sharp higher consolidated profit at Rs 395.3 crore in Q3 FY21 against Rs 203.7 crore in Q3 FY20. However, its revenue declined to Rs 2,597 crore from Rs 2,777.5 crore YoY.
Godrej Properties: The company in a post earning conference call revealed that it is readying a repository of about $1 billion to acquire land, assets and several other under-construction projects from other builders facing stress in the sector due to the Covid-19 pandemic.
Dollar Industries: India's leading hosiery and apparel maker reported higher consolidated profit at Rs 27.8 crore in Q3 FY21 against Rs 18.8 crore in Q3 FY20. It also reported its revenue increasing to Rs 311.8 crore from Rs 254.8 crore YoY.