Stock market news that you should not miss today 1st feb 2021

Here is the important stock market news to watch out for today.

  • Markets to open on a positive note; support @13,500, resistance at 13,850.
  • FIIs sold shares worth Rs5930.66cr (cash), bought Rs2443.2cr in index futures.
  • US markets closed lower on Friday. Asian markets opened in the green.
  • Brent crude was 0.11% higher at $55.10 per barrel.
  • ICICI Bank: Profit after tax grew by 19% yoy to Rs4,940cr (US$ 676 million) in the quarter ended December 31, 2020 (Q3-2021) compared to Rs4,146cr (US$ 567 million) in the quarter ended December 31, 2019 (Q3-2020).
  • Tata Motors reported sharply higher profit at Rs2,906.5cr in Q3FY21 against Rs1,738.3cr in Q3FY20, revenue rose to Rs75,653.79cr from Rs71,676.07cr yoy.
  • Tata Power: Receives LoA by The Odisha Electricity Regulatory Commission (OERC) to own the licence for the distribution and retail supply of electricity in NESCO Utility license area.
  • Cipla registered higher profit at Rs748.2cr in Q3FY21 against Rs351cr in Q3FY20, revenue jumped to Rs5,168.7cr from Rs4,371cr yoy.
  • Tech Mahindra posted higher consolidated profit at Rs1,309.8cr in Q3FY21 against Rs1,064.6cr in Q3FY20, revenue increased to Rs9,647.1cr from Rs9,371.8cr qoq.
  • MOIL has fixed/revised prices of different grades of Manganese Ore and other products, effective from 01.02.2021.
  • CDSL: Total Profit after Tax for the quarter ended December 31, 2020 increased by Rs32.42cr (150%) to Rs54.03cr from Rs21.61cr of the corresponding quarter of previous year.
  • Relaxo Footwears: Profit After Tax at Rs90cr; up 66% yoy with margins of 13.4% - increased by 437 basis yoy
  • SKF India: Sets up an e-commerce platform for online sale (B2B) of its products. Accordingly, the customers can buy SKF genuine products 24x7 using this platform.
  • IndusInd Bank reported lower profit at Rs852.8cr in Q3FY21 against Rs1,300.2cr in Q3FY20, revenue increased to Rs3,406.1cr from Rs3,074cr yoy.
  • Vedanta witnessed higher profit at Rs4,224cr in Q3FY21 against Rs2,665cr in Q3FY20, revenue increased to Rs22,498cr from Rs21,126cr yoy.
  • DLF reported higher profit at Rs451.2cr in Q3FY21 against Rs414cr in Q3FY20, revenue rose to Rs1,543cr from Rs1,342cr yoy.