NTPC’s Q3 profit rises

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⭐ NTPC’s Q3 profit rises 

In the December quarter, the power generation company’s net profit rose 5% YoY to ₹4,476 crore. The rise in the profit was aided by a 37% increase in the revenue to ₹41,410. Meanwhile, it also declared a dividend of ₹4.25 per share (a dividend yield of 2.5% on 27 January’s closing price of the shares). 

⭐ Oil prices fall

Crude oil prices have declined over the possibility of strong Russian supply. Oil loadings from Russia’s Baltic ports are expected to rise 50% this month to cater to the robust demand in Asia, according to reports. Meanwhile, the OPEC+ nations will meet this week to discuss crude oil output. 

⭐ FPIs turn net sellers

The foreign portfolio investors (FPIs) seem to have turned cautious ahead of this week’s Union Budget. They have reportedly pulled out ₹17,000 crore from the Indian markets on a net basis in January. This comes after a net inflow of ₹11,119 crore in the previous month.  

Global markets (at 9:00 AM today)

Fact of the day

Mobile phone maker Samsung was founded as a grocery trading store in 1938 in Korea. 

Source: Britannica