Stocks in news
Trends in the SGX Nifty indicate a positive opening for the broader index in India. The BSE Sensex climbed 170 points to 59,500, while the Nifty50 rose 45 points to 17,649 on Monday.US Stocks retreated on Monday after six sessions of gains while US Treasury yields rose ahead of central bank policy announcements and data that may shed light on whether progress has been made in bringing down inflation.The Dow Jones Industrial Average fell 260.99 points, or 0.77 percent, to 33,717.09, the S&P 500 lost 52.79 points, or 1.30 percent, to 4,017.77 and the Nasdaq Composite dropped 227.90 points, or 1.96 percent, to 11,393.8.Asia-Pacific shares traded mixed on Tuesday as investors look ahead to a range of economic data and a potential interest rate hike from the Federal Reserve. Coal India , Power Grid Corporation of India , Sun Pharmaceutical Industries, UPL, ACC, BASF India, Blue Star, Edelweiss Financial Services, Great Eastern Shipping, Godrej Consumer Products, Indian Hotels, Indian Oil Corporation, Jindal Steel & Power, KEC International, KPIT Technologies, Max Financial Services, MOIL, RailTel Corporation of India, Spandana Sphoorty Financial, Star Health, and TTK Prestige will be in focus ahead of quarterly earnings on January 31.UltraTech Cement: UAE subsidiary UltraTech Cement Middle East Investments has signed agreement to acquire 70% stake in Duqm Cement Project International, LLC, Oman, for $2.25 million.KEC International: The infrastructure EPC major and an RPG Group company secured new orders of Rs 1,131 crore across various businesses including transmission and distribution, and civil.Adani Enterprises: International Holding Company, the diversified Abu Dhabi-based conglomerate, will be investing $400 million into Adani Enterprises ' further public offering (FPO), through its subsidiary Green Transmission Investment Holding RSC Limited. The Rs 20,000 crore FPO subscribed 3% on second day of bidding.BPCL:State-owned BPCL 's reported consolidated net profit fell 36% to Rs 1,747 crore for the December quarter, compared with Rs 2,579 crore of last year quarter. Meanwhile, revenue from operations rose 13%.GAIL India: GAIL India , the country's largest gas distributor, reported an almost 93% slump in third quarter profit, hit by lower gas sales due to supply disruptions. HDFC Bank : The final hearing on the merger of Housing Development Finance Corp (HDFC) with the bank will take place on February 3 at the Mumbai bench of the National Company Law Tribunal. The proposed merger has already received approval of equity shareholders, the Competition Commission of India, the Reserve Bank of India, and stock exchanges.Tech Mahindra: The company's net profit for the December quarter declined 5% year-on-year (YoY) to Rs 1,297 crore. Revenue from operations increased 20% YoY to Rs 13,735 crore.