Exchange data and official disclosures say that Indian equity benchmarks are likely to start off on a good note on Monday, February 9, thanks to strong global market cues and news about specific stocks. The Sensex and Nifty 50 ended higher in the previous session following the Reserve Bank of India’s monetary policy announcement.
On Friday, February 7, the Sensex rose 266.47 points, or 0.32%, to close at 83,580.40, while the Nifty 50 gained 50.90 points, or 0.20%, to settle at 25,693.70, according to data from the National Stock Exchange.

Companies Reporting December Quarter Results

Shares of BSE, Zydus Lifesciences, Aurobindo Pharma, Bajaj Electricals, and Bata India are expected to remain in focus as these companies are scheduled to announce their December quarter financial results on February 9, according to exchange filings.

Banking And Financial Stocks In Focus

State Bank of India reported a 24% year-on-year rise in standalone net profit for the third quarter, with profit increasing to ₹21,028 crore, as per the bank’s regulatory filing. Indian Renewable Energy Development Agency said it has approved a ₹2,994 crore fund-raising proposal through the qualified institutional placement route, according to its disclosure on February 7.

Anand Rathi Share and Stock Brokers also remains in focus after the company informed stock exchanges that its Internal Inquiry Committee identified a fraud amounting to ₹13 crore.

Corporate Earnings And Expansion Updates

Tata Steel posted a 723% year-on-year surge in consolidated net profit for the December quarter, with profit rising to ₹2,689 crore from ₹327 crore in the same quarter last year, according to its results statement. Kalyan Jewellers reported a 90.2% year-on-year increase in net profit to ₹416.3 crore, while revenue rose 42.1% to ₹10,343.4 crore during the quarter, as per company data.

Regulatory And Strategic Developments

Reliance Industries remains in focus after Reliance Consumer Products acquired a controlling stake in Australia-based Goodness Group Global, according to a company announcement. Aurobindo Pharma disclosed that the U.S. Food and Drug Administration inspected Unit III of Eugia Pharma Specialities in Telangana between January 27 and February 6, as per an exchange filing.

Force Motors said it has signed a memorandum of understanding to acquire a 100% stake in Veera Tanneries for ₹175 crore, subject to applicable tax deductions. BEML also drew attention after its board approved an estimated ₹1,500 crore investment for a greenfield rail manufacturing plant named ‘BRAHMA’ in Umariya, Madhya Pradesh, according to a regulatory filing.