Stocks in focus: ITC, Titan, Magma Fincorp, SBI, PNB, Bank of India, Coal India, Ashok Leyland

BSE Sensex and Nifty 50 are likely to extend losses into the third consecutive day on Thursday, on the back of continuous profit-booking by investors post strong Budget-driven rally. Nifty futures were trading 81 points or 0.54 per cent lower at 15,057 on Singaporean Exchange in early trade. Sensex ended at 51,309 while the broader Nifty 50 index at 15,106 in the previous session. Asian stock markets were trading lower in the early trade, while markets in China, Japan, South Korea and Taiwan are closed for holidays. Hong Kong’s Hang Seng index shed over half a per cent, while the Straits Times index in Singapore fell over 0.25 per cent. In overnight trade on Wall Street, the S&P 500 and the Nasdaq edged slightly lower.

Stocks in focus today:

ITC, ACC: A total of 442 BSE-listed companies including ITC, Coal India, Power Grid Corporation of India, ACC, Ashok Leyland, General Insurance Corporation of India, MRF, Oil India, Petronet LNG, Power Finance Corporation, Prestige Estates Projects, among others are scheduled to announce their quarterly earnings on February 11.

Titan Company: Tata group firm Titan Company reported an 11.81 per cent increase in consolidated net profit to Rs 530 crore for the third quarter ended in December 2020, led by income growth in the jewellery division. The company had posted a net profit of Rs 474 crore in the corresponding period last fiscal.

Magma Fincorp: Adar Poonawalla-controlled Rising Sun Holdings is acquiring a majority stake in non-banking financial company Magma Fincorp and will be infusing fresh capital into the company. This will be followed by an open offer.

SBI: The State Bank of India has crossed the Rs 5-lakh crore mark in the home loan business and expects to double the size of its portfolio over the next five years, chairman Dinesh Khara said on Wednesday.

PNB: Punjab National Bank said it has inked a pact with Indian Oil Corporation to provide up to Rs 2 crore to the oil company’s dealers. PNB signed a MoU with India Oil Corporation Ltd to cater to the financing needs of the IndianOil dealers.

Bank of India: Bank of India registered a fivefold increase in net profit to Rs 541 crore during the December quarter (Q3FY21) compared to the corresponding quarter last year. Also, fair trade regulator CCI approved Bank of India’s acquisition of 49 per cent stake each in BOI AXA Investment Managers and BOI AXA Trustee Services.