6538Landlords gain from rental yield increase, tenants’ budget gets spoiled!

Indian benchmark equity indices opened higher on Tuesday after a record-setting day on Wall Street.

Sensex opened at 51,484, up 135 points or 0.26%, while Nifty climbed 48 points or 0.32% to open at 15,164.

On the BSE ONGC, Infosys, IndusInd Bank, ICICI Bank & HCL Tech were top gainers trading over 1% higher. While stocks like M&M, SBI, Kotak Mahindra Bank, Axis Bank & Dr Reddy’s witnessed profit booking in opening trades.

NSE sectoral indices were trading lower as Nifty Bank & Auto are down 0.47% & 0.53% respectively. BSE Midcap & Smallcap index was also trading flat.

Results today

Tata Steel, Adani Ports and Special Economic Zone, Aries Agro, Aster DM Healthcare, BASF India, Berger Paints India, Burger King India, Central Bank of India, Chalet Hotels, Dhanlaxmi Bank, Endurance Technologies, Future Retail, GMDC, HCC, HEG, Indoco Remedies, Indian Overseas Bank, Jammu & Kashmir Bank, Lemon Tree Hotels, Max Financial Services, Mahanagar Gas, Muthoot Finance, Raymond, Shree Renuka Sugars, Spandana Sphoorty Financial, Torrent Power, VST Tillers Tractors etc.

Stocks in focus

BPCL reported 11.89% fall in consolidated net profit to Rs 1,565.23 crore on 12.05% fall in total income to Rs 66,809.47 crore in Q3 December 2020 over Q3 December 2019.

NMDC reported 54.75% rise in consolidated net profit to Rs 2,157.81 crore on 42.22% rise in total income to Rs 4,460.97 crore in Q3 December 2020 over Q3 December 2019.

Shares of Reliance Industries (RIL), Future Retail will be in action. The Delhi High Court has stayed the Single Judge Bench order directing “Status Quo” of Future Retail (FRL) -RIL deal. As per the order issued by the court, Amazon had no reason to seek a status quo order, when it wasn’t interested in the deal. The Court also observed that statutory authorities cannot be restrained in private litigation from acting in accordance with law.

Sun TV Network reported 15.88% rise in consolidated net profit to Rs 445.54 crore on 15.77% rise in total income to Rs 1,059.39 crore in Q3 December 2020 over Q3 December 2019.

Torrent Pharmaceuticals reported 18.33% rise in consolidated net profit to Rs 297 crore on 0.79% fall in total income to Rs 2,003 crore in Q3 December 2020 over Q3 December 2019.

Redington India reported 21.42% rise in consolidated net profit to Rs 189.30 crore on 14.92% rise in total income to Rs 17,003.18 crore in Q3 December 2020 over Q3 December 2019.

Global markets

Overseas, Asian stocks are mostly higher on Tuesday following overnight gains on Wall Street that saw the major indexes rallying to record closing highs.

In US, Wall Street reached all-time closing highs on Monday as investor optimism was stoked by prospects of a speedier economic recovery from the global health crisis, driven by increased stimulus and an accelerated vaccine rollout.

Biden has set a goal to administer at least 100 million Covid vaccine doses during his first 100 days in office, but he warned it will be very difficult to achieve herd immunity in the U.S. by the end of summer.

(With inputs from Capital Market – Live News)