SBI, Adani Ent, Ruchi Soya, Reliance Infra, ONGC, Dhampur Sugar Mills stocks in focus

BSE Sensex and Nifty were staring at a gap-down start on Monday, as suggested by trends on SGX Nifty in early trade. Nifty futures were trading 216.50 points or 1.25 per cent down at 17137.50 on Singaporean Exchange. In the previous trading session, benchmark indices snapped the three-day gaining spree, and ended over 1 petr cent down. BSE Sensex fell 773 points or 1.3 per cent to 58,153, while Nifty finished at 17374, down 231 points or 1.3 per cent. “We feel the prevailing tussle between the bulls and bears would end soon. On the index front, 16,800-17,000 would remain the critical support zone in Nifty and it would face stiff resistance around 17,650-17,800 zone. We’re seeing a mixed trend across sectors wherein metal looks strongest followed by banking, energy, auto while IT, pharma and realty may trade subdued so plan your positions accordingly,” Ajit Mishra, VP Research. Religare Broking, said.

Stocks to watch

Adani Enterprises, Grasim: BSE-listed companies such as Adani Enterprises, Grasim, Coal India, Eicher Motors, Adani Wilmar, Balkrishna Industries, Rajesh Exports, Ipca Labs, Natco Pharma, Medplus Health, JB Chemicals and Pharma, Manappuram Finance, NLC India and Graphite India are among the companies that will announce their October-December quarter results today.

Ruchi Soya Industries: Edible oil major Ruchi Soya Industries Ltd on Sunday reported a 3 per cent increase in its net profit to Rs 234.07 crore for the quarter ended in December 2021. Its net profit stood at Rs 227.44 crore in the year-ago period.

Dhampur Sugar Mills: Dhampur Sugar Mills Ltd on Sunday reported a 39 per cent increase in its consolidated net profit to Rs 76.01 crore for the quarter ended in December. Its net profit stood at Rs 54.56 crore in the year-ago period.

State Bank of India: Country’s largest lender SBI is expecting to recover around Rs 8,000 crore from written-off accounts, including from NCLT resolved cases, in the current fiscal year to be ending on March 31, 2022.

Muthoot Finance: NBFC Muthoot Finance on Saturday reported a 4% on-year increase in its third quarter consolidated net profit to Rs 1,043.6 crore largely due to the good performance of the gold loan division.

Reliance Infrastructure: Reliance Infrastructure (RInfra) on Saturday reported a consolidated net loss of Rs 106.91 crore for the quarter ended December 31, 2021. The company had logged a net profit of Rs 80.08 crore in the year-ago period, RInfra said in a filing to BSE.

ONGC: Oil and Natural Gas Corporation reported nearly six-fold jump in third quarter net profit. It posted net profit at Rs 8,764 crore in October-December 2021, rising 596.7 per cent over Rs 1,258 crore net profit in the same period a year back.