Following Friday’s rally, SGX Nifty futures suggested that the equity benchmark may calmly start the new week, quoting 50 points below the previous close of 17,800.

The street will closely watch the Reserve Bank of India’s policy decision this week on Wednesday.

Wall Street closed lower on Friday after a vital jobs report raised concerns that the Federal Reserve has more room to keep raising interest rates. The US economy added 517,000 jobs in January, beating expectations for a gain of 187,000.

The S&P 500 lost 1.04%, the Nasdaq lost about 1.59%, and the Dow lost 0.38%.

SBI: State Bank of India (SBI), India’s largest state-owned lender, reported a 68.5% year-on-year increase in net profit for the October-December 2023 financial year (Q3FY23). The bank reported a quarter-on-quarter stand-alone net profit of Rs 14,205 crore in Q3FY23, compared to Rs 8,432 crore in Q3FY22.

Vodafone Idea: The centre on Friday approved the conversion of the telco’s dues related to spectrum interest and adjusted gross revenue (AGR) worth Rs 16,133 crore into equity. With this, the government will own a 33% stake, making it the largest shareholder in the financially strained telecom company. This takes the suspense out of the company, and a substantial capital injection from promoters/investors is essential to repay near-term dues and maintain investment.

ITC: Backed by healthy operating performance, the company’s profit for the quarter ended December 2023 rose 21% year-on-year to Rs 5,031 crore. Revenue in the quarter rose 2.3% to Rs 16,226 crore segment driven by cigarettes, FMCG, hotels and paper, but agribusiness fell 37% year-on-year to Rs 3,124 crore. EBITDA rose 22% to Rs 6,223 crore, and the operating margin is 620 basis points higher than last year.

IndiGo: After three consecutive quarters of losses, InterGlobe Aviation posted a record net profit of Rs 1,422 crore in Q3FY23. Last year, the airline posted a net profit of Rs 129 crore in the same period.

Paytm: One97 Communications (Paytm owner) narrowed its consolidated net loss to Rs 392 crore in the third quarter that ended December 2022. The company posted a net loss of Rs 778.4 crore in the year-ago period. Its operating income jumped 42% to Rs 2,062.2 crore in the quarter from Rs 1,456.1 a year earlier.

Tata Power: The company reported a 91% year-on-year rise in consolidated profit to Rs 1,052 crore in Q3FY23. Consolidated revenue for the quarter rose 30% year-on-year to Rs 1,433.9 crore, driven by increased capacity from renewables, higher generation from thermal power plants and higher sales from distribution companies.

M&M Financial Services: The NBFC’s third-quarter stand-alone profit fell 30% year-on-year to Rs 629 crore due to a high base in the same period last year. Net interest income rose 7% year-on-year to Rs 1,650 crore, and loan books grew 21% to Rs 77,344 crore.

Marico: The FMCG company’s consolidated profit rose 5% year-on-year to Rs 333 crore in Q3FY23. Revenue for the quarter rose 2.6% to Rs 2,470 crore, with India up 1.9% year-on-year to Rs 1,851 crore and international business up 5% to Rs 619 crore.

DCB Bank: The Reserve Bank of India has approved DSP Investment Managers (DSPIM) to raise its stake in the bank to 9.99% through the DSP mutual fund scheme. The approval is valid for one year until February 2, 2024. Currently, DSP MF holds a 4.23% stake in the bank.

Tata Motors: In a note, Jaguar Land Rover said it expected central bank rate hikes worldwide to increase consumer financing costs and could affect future demand.

Natco Pharma: The company announced the completion of the FDA regulatory inspection of its formulation plant located in Ramky Special Economic Zone near Vizag, India, from January 30, 2023, to February 3, 2023. After the inspection, the factory received two comments, one regarding the written production process control procedure and one about the investigation procedure.

Oberoi Realty: The company has acquired about 32.20 square meters (about 8 acres) of land along Pokhran Road 2, Thane, from Blue Star (BSL) for Rs 192.31 crore.

Balaji Amines: The government has approved a proposed expansion plan to expand Balaji Amines Organic and Specialty Chemicals Manufacturing Plant IV in Solapur, Maharashtra.

Manappuram Finance: The gold loan financing company reported 50% year-on-year growth in profit at Rs 392.2 crore for the quarter ended December FY2023, as financial instruments declined by Rs 54 crore for the quarter. Revenue from operations for the quarter grew 15.5% to Rs 1,714 crore over a year-ago period.

Comfort Fincap: The company’s board of directors has approved the sub-division (stock split) of the existing shareholding of Rs 10 each into five shares of face value Rs 2, i.e., a 1:5 stock split.

Krsnaa Diagnostics: The company reported that Dhule Municipal Corporation and the company have entered into an agreement for the installation, operation and maintenance of a Radiology and Pathology Centre at Late R. R. Patil Commercial Complex, Dhule, Maharashtra, as a public-private partnership (PPP) as the basis.

Aurionpro Solutions: The company said its trusted partner Webwerks had announced the simultaneous opening of Tier 3 data centres (DC) in Navi Mumbai, Hyderabad and Bengaluru. This is part of their data centre expansion plans in several cities in India, including Bengaluru, Hyderabad, Pune, Chennai and Mumbai.