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Wednesday, December 8, 2021

Future Retail, Hero MotoCorp, ONGC, Nykaa

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Stocks To Watch: Future Retail, Hero MotoCorp, ONGC, Nykaa

Trends on SGX Nifty indicated a flat opening for the domestic markets.

New Delhi: The domestic stock markets are expected to trade cautiously on Monday, taking cues from the global markets. Asian shares edged higher as U.S. stock futures made early gains. Trends on SGX Nifty indicated a flat opening for the markets back home. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures inched 0.20 per cent or 35.50 points higher to 18,219.50.

The benchmark BSE Sensex had closed 767 points or 1.28 per cent higher at 60,686.69; the broader NSE Nifty has surged 229.15 points or 1.28 per cent to 18,102.75.

Here Are Stocks To Watch During Today’s Session:

Future Retail: Independent directors at Future Retail have disclosed new documents in a letter to Competition Commission of India (CCI), aiming to bolster their case against Amazon.com Inc as they seek to revoke a 2019 deal between the two companies. The two companies’ legal dispute has become a high-stakes battle which could determine the dominant player in India’s retail market in the years ahead.

Hero MotoCorp: The Two-wheeler maker has reported a 22 per cent decline in its consolidated net profit to Rs 747.79 crore for the second quarter ended September. Hero’s consolidated revenue from operations stood at Rss 8,538.85 crore as against Rs 9,473.32 crore in the year-ago quarter.

ONGC: State-owned Oil and Natural Gas Corp. Ltd has reported a net profit of Rs 18,348 crore for the September quarter, up 565 per cent from the year-ago period. The company has registered a 44 per cent increase in revenue to Rs 24,353 crore for the second quarter from Rs 16,916 crore in the year-ago period.

Indian Oil Corp: State-owned IOC and NTPC have signed an agreement to collaborate on renewable energy. This comes in the backdrop of Indian Oil announcing its plan to build the country’s first green hydrogen plant at its Mathura refinery.

Nykaa: Shares of  Nykaa made a stellar stock market debut on 10 November. The online beauty retailer has reported a consolidated net profit of Rs 1.2 crore for the quarter ended September. Operating profit stood at Rs 28 crore in Q2; while revenue from operations jumped to Rs 885 crore.

Vodafone Idea: The telecom operator has reported its 13th straight quarterly loss. Cash-strapped Voda-Idea reported a loss of Rs 7,132 crore for the September quarter in comparison with a loss of Rs 7,218 crore in the year-ago period.

Meanwhile, shares of Policybazaar, SJS Enterprises, and Sigachi will make their market debut today.

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