Stocks To Watch: Future Group, Hindustan Unilever, Asian Paints, Vedanta
New Delhi: The domestic stock indices are likely to trade in red on Friday taking cues from the global markets. Asian share markets and U.S. futures fell after U.S. stocks took a knock overnight, hurt by lingering concerns over the Federal Reserve’s tightening and weaker-than-expected economic and earnings data. Trends on SGX Nifty indicated a negative opening for the markets back home. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 169.35 points or 0.95 per cent to 17,634.80.
The benchmark BSE Sensex had slumped 634 points or 1.06 per cent to close at 59,465 on Thursday, while the broader NSE Nifty had settled 181 points or 1.01 per cent lower at 17,757.
Here Are Stocks To Watch During Today’s Session:
Future Group: Future Group plans to challenge its own lenders in the Supreme Court to avoid being named a defaulter for missing payments, citing its ongoing dispute with partner Amazon.com Inc, three sources told news agency Reuters. Future told Indian exchanges this month it was unable to pay Rs 3,500 crore ($470 million) it owed to its lenders on December 31 as it could not sell certain small stores due to the dispute with Amazon. It had hoped to use a 30-day grace period to resolve the situation.
Hindustan Unilever: The consumer products major has reported an 18.68 per cent increase in consolidated net profit to Rs 2,300 crore for the third quarter ended December 2021. The company had posted a net profit of Rs 1,938 crore in the October-December period of the previous fiscal. HUL’s total expenses were at Rs 10,329 crore in Q3 FY2021-22 as against Rs 10,129 crore earlier.
Asian Paints: The company has reported an 18.5 per cent decline in consolidated net profit to Rs 1,031.29 crore for the third quarter ended December 2021 as inflationary trends in raw material prices continued to impact the company’s gross margins across businesses.
Biocon: The biotechnology major has reported a 17.68 per cent increase in consolidated net profit at Rs 219.6 crore for the third quarter ended December 31, 2021.
Vedanta: The mining firm plans to create a $10 billion fund to bid for assets including the Indian government’s stake in Bharat Petroleum Corp Ltd (BPCL), its chairman told Reuters.
Meanwhile, Reliance Industries, SBI Life, HDFC Life, PolyCab India and Vodafone Idea are among the companies that will declare their respective quarterly numbers today.
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