Stock Market Today: GIFT Nifty indicates a bullish start; Sun TV, IRCTC in focus

Stock Market Today: With a gain of 84 points, or 0.38 percent, at 21,997 on the NSE IX, GIFT Nifty indicated that Dalal Street was off to a good start on Thursday. The Nifty finished the day 97 points higher, forming a bullish engulfing candlestick pattern that suggests the market will soon reverse its downward trend. Nifty is currently poised to overcome the immediate barrier of 21850 levels, and a strong move above this resistance is probably going to push Nifty in the short run towards levels between 22000 and 22100. Thursday's opening of Tokyo equities was positive as Wall Street recovered, allaying concerns about inflation.In early trading, the benchmark Nikkei 225 index was up 399.95 points at 38,103.27, while the Topix index as a whole gained 10.31 points to 2,594.90.

Stock Market Today: Stocks in focus

Paytm

Paytm made it clear on Wednesday that it does not process outbound international remittances through its affiliated Paytm Payments Bank. The Board of Utkarsh CoreInvest, the holding company, has approved a resolution that calls for taking the first steps towards UCL's proposed reverse merger (also known as the "Proposed Merger") with the Bank.

Sun TV

In the third quarter, Sun TV's net profit increased by 7% to Rs 454 crore. Operational revenue rose by 4% to Rs 923 crore. NMDC reported a net profit for the December quarter of Rs 1470 crore. During the same time period, operational revenue totaled Rs 5,409 crore.

IRCTC

With effect from February 14, the government has authorised Sanjay Kumar Jain's appointment as CMD of IRCTC. For the December quarter, Muthoot Finance reported a net profit of Rs 1,027 crore. NII totaled Rs 1,905 crore for the quarter.

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