The February futures contract for Nifty 50, traded on the Singapore Exchange, indicates a positive start for domestic equities. The contract traded at 17,789, up 59 pips or 0.33% from the previous close.

Q3 earnings hours: Shree Cement, Adani Power, Adani Wilmar, Cummins India, Escorts Kubota, Dreamfolks Services, Endurance Technologies, Equitas Small Finance Bank, Honeywell Automation India, IRCON International, ITD Cementation India, Minda Corporation, Samvardhana Motherson International, Narayana Khrudayalaya, Oberoi Realty, Piramal Enterprises, Specialty Restaurants, Symphony, Tracxn Technologies, Trent and Windlas Biotech, among others, will post their quarterly earnings today.

Rate Sensitive: Shares of rate sensitive pockets such as banks, NBFCs, real estate or real estate companies, and automobiles may experience some action after the RBI hike.

Bharti Airtel: The company reported a 91.5% year-on-year increase in consolidated net income to Rs 1,588 crore for the October-December 2022-23 quarter. Total revenue rose almost 20% year on year to Rs 35,804 crore in the December quarter (Q3 FY 23) “due to strong and stable results across the portfolio.

Hero Moto: Hero MotoCorp reported a 2.41% year-on-year increase in consolidated net income to Rs 721.24 crore in the third quarter of 2022-2023 amid weak demand, especially in rural areas. Its total income jumped 2.05% in the third quarter (year on year) to Rs 8,300.3 crore. The company said a cost-cutting (savings) program and several launches planned over the next few quarters should help boost profitability.

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Ambuja Cements: Ambuja Cements recorded a 46% increase in own earnings to Rs 368.99 crore in the quarter ended December 31, 2022 (Q3 FY23) compared to Rs 252.81 crore in Q3 FY22. During the same period, the volume increased by seven percent. The company’s operating income rose 10 percent to Rs 4,128.5 crore from Rs 3,739.9 crore a year ago.

Adani Green: Adani Green Energy’s consolidated net income more than doubled to Rs 103 crore in the December quarter, mainly due to higher earnings. The company’s consolidated net income was Rs 49 crore last year. Total income in the third quarter of the current financial year rose to Rs 2,258 crore from Rs 1,471 crore in the same period a year ago.

ONGC: Oil and Natural Gas Corporation Limited (ONGC) is in talks with global oil giants to bring cutting edge technology to India’s aggressive deep water exploration. ONGC has held talks with US oil and gas giant ExxonMobil, Norwegian energy multinational Equinor, US oil services conglomerate Baker Hughes and French research organization Institut Francais du Petrole on issues such as technology and deep water.

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Vodafone Idea: Vodafone Idea issued 16,130 million shares to the central government on Tuesday, giving it a 33.4% stake in the company. In doing so, the government also becomes the largest shareholder in the telecommunications company. Operational and managerial control over the company will remain with the existing promoters.

NDTV: The company said on Tuesday that its third-quarter earnings more than halved due to weak advertising demand. The broadcaster’s consolidated net income fell to Rs 12.9 crore in the third quarter from Rs 27.6 crore a year earlier. Revenue fell 9.4% year on year to Rs 105.4 billion for the quarter.

Deepak Nitrite: The company’s net profit fell 13.8% to Rs 209.1 crore compared to Rs 242.5 crore a year ago. Revenue rose 15.6% year on year to Rs 1,991.1 crore. The operating margin decreased to 15.8% from 20.4% a year earlier.

Rail Vikas Nigam: (RVNL) became the lowest bidder (L1) for the Rs 69.48 crore North Western Railway project. Award letter expected.

PC Jeweler: A consortium of four banks – IDBI Bank, Indian Bank, Bank of India and Karur Vysya Bank – has sent notices to the company to withdraw the loan. Litigation between the State Bank of India (lead bank) and the company is ongoing and the next hearing date has been set for 28 February 2023.

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Sobha: The company reported a 48% year-on-year decline in consolidated earnings to Rs 31.8 trillion for the December quarter, which was impacted by weak operating results. Although revenue rose 40 percent year on year to Rs 868.2 crore for the quarter, with the highest quarterly sales of 1.48 million square feet.

BSE: The Stock Exchange reported a 15.7% year-on-year decline in earnings to Rs 51.64 crore for the December quarter. Revenue for the quarter rose by 5.77% to Rs 204 crore compared to the same period last year. Operating margin declined 1,079 basis points year-on-year to 19.13% for the quarter. The Board of Directors has approved the sale of a 2.5 percent stake in Central Depository Services (India) through an offer of sale (OFS).

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