HDFC reported a 65 per cent year-on-year decline in its December quarter net profit to Rs 2,926 crore
The domestic stock markets are likely to open in the green, continuing with the Budget rally witnessed in the past two trading sessions, going by indications from SGX Nifty futures trading. Trends on SGX Nifty indicate a positive opening for the index in India, with a 50-points gain. At 7:30 am, the Nifty futures were trading at 14,777, higher by 50 points or 0.47 per cent on the Singapore Stock Exchange.
Stocks to watch in today’s session (February 3, 2021)
Future Retail
The Delhi high court halted Future Group’s sale of its assets to Reliance Industries (RIL), handing a tentative win to Amazon.com Inc., which is locked in a bruising battle for dominance with Mukesh Ambani in India’s lucrative retail market.
HDFC
HDFC reported a 65 per cent year-on-year decline in its December quarter net profit to Rs 2,926 crore. Sequentially, profit grew 2 per cent from Rs 2,870 crore clocked in Q2FY21. Revenue from operations fell 42 per cent to Rs 11,707 crore. For Q3, HDFC set aside Rs 594 crore as provisions, 80 per cent lower than the year-ago period.
Infosys
Infosys bagged digital transformation contract from Siemens Gamesa Renewable Energy. Infosys will collaborate with Siemens Gamesa Renewable Energy to digitally transform its operations by implementing SAP S/4HANA in 50+ countries.
Tata Consumer Products
Tata Consumer Products reported higher consolidated profit at Rs 218.2 crore in Q3FY21 against Rs 169.3 crore in Q3YFY20. Meanwhile, the company has signed a definitive agreement to acquire a 100 per cent stake in Kottaram Agro Foods, the maker of Soulfull brand of breakfast cereals and millet-based snacks, for Rs 156 crore.