KEY HIGHLIGHTS
FPIs Stay Net Sellers For The Third Straight Day
Overseas investors remained net sellers of Indian equities for the third consecutive session on Friday.
Foreign portfolio investors offloaded equities worth Rs 3,689.68 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors stayed net buyers for the fourth straight day and mopped up stocks worth Rs 2,638.4 crore, the NSE data showed.
During the past three sessions, foreign investors have sold Indian equities worth Rs 24,169.3 crore, while domestic investors bought stocks worth Rs 12,622, according to the provisional data.
Foreign institutions have been net sellers of Rs 13,047 crore worth of Indian equities so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.
Yield On The 10-Year Bond Ends Flat
The yield on the 10-year bond closed flat at 7.18% on Friday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency strengthened 5 paise to close at 83.07 against the U.S dollar on Friday.
It closed at 83.12 on Thursday.
Source: Bloomberg
Sensex, Nifty End Worst Week In Over Two Months With Gains: Market Wrap
India's benchmark indices snapped a three-day losing streak and ended higher on Friday as ICICI Bank Ltd, Bharti Airtel Gain.
The S&P BSE Sensex settled 496.37 points or 0.70% higher at 71,683.23, while the NSE Nifty 50 ended 160.15 points or 0.75% higher at 21,622.40.
However, the benchmark indices logged biggest weekly losses in over two months. The Nifty 50 index declined 1.24% this week, and the Sensex fell 1.22% compared to previous. This is the biggest weekly loss since Oct 27.
Intraday, the Sensex rose to a high of 71,895.64, and the Nifty 50 touched a high of 21,670.60.
ICICI Bank Ltd, Bharti Airtel Ltd, Larsen & Toubro, ITC Ltd, and Infosys Ltd contributed positively to the benchmark index.
HDFC Bank Ltd, IndusInd Bank Ltd, Kotak Mahindra Bank Ltd, Adani Ports and Special Economic Zones Ltd, and Divi's Laboratories Ltd weighed.
On NSE, sectoral indices ended on a mixed note. The Nifty Oil & Gas sector gained 3.4% and was the top performer among sectoral indices. The Nifty Bank fell 4.1% this week to be the worst performer.
Nifty 50 Record Worst Weekly Losss In Over Two Months
Broader markets outperformed the benchmark indices. The S&P BSE Midcap index rose 1.69%, and the S&P BSE Smallcap gained 1.06%.
On BSE, all 20 sectors gained. The S&P BSE Telecommunication rose 1.79% to emerge as the top performing sector.
The market breadth was skewed in favour of buyers. Around 2473 stocks rose, 1333 stocks decline, and 106 stocks remained unchanged.
Ramco Systems Partners With BDO India
Ramco Systems partnered with BDO India for payroll services
Source: Exchange Filing
RVNL Has 31.1 Lakh Shares Change Hands In Large Trade
Rail Vikas Nigam Ltd has 31.1 lakh shares changed hands in a large trade
The company has 0.1% equity changed hands at Rs 292.3 apiece
Buyers and sellers not known immediately
Source: Bloomberg
NTPC Has 62.5 Lakh Shares Change Hands In Large Trade
NTPC Ltd has 62.5 lakh shares changed hands in a large trade
The company has 0.1% equity changed hands at Rs 308.1 apiece
Buyers and sellers not known immediately
Source: Bloomberg
ONGC Has 11.7 Lakh Shares Change Hands In Large Trade
Oil and Natural Gas Corp has 11.7 lakh shares changed hands in a large trade
The company's 0.01% equity changed hands at Rs 242 apiece
Buyers and sellers not known immediately
Source: Bloomberg
Avantel Q3 Results Key Highlights (QoQ)
Revenue at Rs 59.3 crore vs Rs 54.3 crore, up 9.2%
Ebit at Rs 22.6 crore vs Rs 23.3 crore, down 3.01%
Margin at 38.11% vs 42.9%, down 479 bps
Net profit at Rs 16.3 crore vs Rs 16.1 crore, up 1.24%
IndusInd Bank Has 25.5 Lakh Shares Change Hands In A Large Trade
IndusInd Bank has 25.5 lakh shares changed hands in a large trade
The lender has 0.3% equity changed hands at Rs 1,555 apiece
Buyers and sellers not known immediately
Source: Bloomberg
HDFC Bank Has 18.2 Lakh Shares Change Hands In Large Trade
HDFC Bank Ltd has 18.2 lakh shares changed hands in a large trade
The lender 0.02% equity changed hands at Rs 1,474 apiece
Buyers and sellers not known immediately
Source: Bloomberg
JK Cement Receives Assessment Order From IT Department
JK Cement received an assessment order worth Rs 175.47 crore from I-T department
Source: Exchange Filing
Zee Entertainment Slips Over 6%
Shares of Zee Entertainment Enterprises Ltd. fell over 6% a day before its new merger deadline, which was initially to be completed before December 20, 2023.
European Markets Gain
Hindustan Zinc Q3 Results Key Highlights (YoY)
Net profit at Rs 2,028 crore vs Rs 2,156 crore, down 5.9%
Revenue at Rs 7,310 crore vs Rs 7,866 crore, down 7.1%
Ebitda at Rs 3,521 crore vs Rs 3,707 crore, down 5.02%
Margin at 48.16% vs 47.12%, up104 bps
Sensex, Nifty Snap Three-Day Losing Streak To Trade Higher: Midday Market Update
India's benchmark stock indices traded higher through midday trade on Friday on likely short covering and bargain hunting by investors after a three-day losing streak.
Financial services stocks led the gains, and losses in index heavyweights Reliance Industries Ltd. and IndusInd Bank Ltd. led the decline.
As of 11:47 a.m., the Nifty rose 123.25 points, or 0.57%, to trade at 21,585.50, and the Sensex gained 469.61 points, or 0.66%, to 71,656.47 points. The Nifty had hit an intraday high of 21,670.60, and the Sensex had touched 71,895.64 so far in the day.
"Overall, the market outlook suggests a potential turnaround, driven by short covering and bargain hunting, with a cautious yet optimistic approach," said Prashanth Tapse, senior vice president of research at Mehta Equities Ltd.
Shares of ICICI Bank Ltd., Bharti Airtel Ltd., Axis Bank Ltd., Tata Consultancy Services Ltd., and Larsen & Toubro Ltd., contributed the most to the Nifty 50.
Meanwhile, those of Reliance Industries Ltd., IndusInd Bank Ltd., HCLTechnologies Ltd., Divi's Laboratories Ltd., and Sun Pharmaceutical Industries Ltd., weighed on the index.
All sectoral indices on the NSE rose with Nifty Metal and Nifty Oil & Gas rising the most.
Broader markets outperformed their larger peers, with the BSE Midcap rising 1.11% and the Smallcap gaining 1% through midday on Friday.
All 20 sectors compiled by BSE Ltd. advanced. S&P BSE Information Telecommunication rose the most.
Market breadth was skewed in favour of buyers. Around 2,538 stocks rose, 1,129 stocks fell, and 125 remained unchanged.
Atul Q3 Results Key Highlights (YoY)
Net profit at Rs 72.05 crore vs Rs 102.88 crore, down 29.9% YoY
Revenue at Rs 1,137.8 crore vs Rs 1268.25 crore, down 10.3% YoY
Ebitda at Rs 151.68 crore vs Rs 172.25 crore, down 11.9% YoY
Cons Margin at 13.33% vs 13.58%, down 25 bps YoY
UltraTech Cement Q3 Results Key Highlights (YoY)
Net profit at Rs 1,774.8 crore vs Bloomberg estimate of Rs 1,818.5 crore
Revenue at Rs 16,739.9 crore vs Bloomberg estimate of Rs 16,987 crore
Ebitda at Rs 3,254.6 crore vs Bloomberg estimate of Rs 3,305.2 crore
Ebitda margin at 19.4% vs Bloomberg estimate of 19.5%
Net profit at Rs 1,774.8 crore vs Rs 1,062.6 crore, up 67%
Revenue at Rs 6,739.9 crore vs Rs 15,520.9 crore, up 7.9%
Ebitda at Rs 3,254.6 crore vs Rs 2,335.9 crore up 39.3%
Ebitda margin at 19.4% vs 15%
Hatsun Agro Q3 Results Key Highlights (YoY)
Net profit at Rs 57.4 crore vs Rs 46.44 crore, up 23.6% YoY
Revenue at Rs 1,887.5 crore vs Rs 1,695.2 crore, up 11.3% YoY
Ebitda at Rs 212.7 crore vs Rs 190.1 crore, up 11.9% YoY
Margin at 11.26% vs 11.21%, up 5 bps YoY
Nykaa Has 19.5 Lakh Shares Change Hands In Large Trade
FSN E-Commerce Ventures Ltd has 19.5 lakh shares changed hands in a large trade.
The company's 0.1% equity changed hands at Rs 170.9 apiece
Buyers and sellers not known immediately
Source: Bloomberg
Central Bank Of India Q3 Results Key Highlights
Standalone net profit at Rs 717.9 crore vs Rs 458.2 crore, up 56.7% YoY
Gross NPA at 4.50% vs 4.62% QoQ Central Bk 53.7
Net NPA at 1.27% vs 1.64% QoQ Central Bk 53.7
Standalone NII at Rs 3,151.9 crore vs Rs 3,284.5 crore, down 4% YoY
Tata Steel Up Over 2%
Shares of Tata Steel Ltd rose as much as 2.73% to Rs 134.60 on Friday after reports said the company's furnace in U.K. may shut down.
Shilpa Medicare Gets EU Nod Marketing Amifampridine Tablets
Shilpa Medicare Ltd received nod from European Union for marketing Amifampridine tablets
Alert: Amifampridine is used to treat rare muscle diseases
Source: Exchange Filing
CE Infosystems Gets Order Worth Rs 400 Crore From Hyundai AutoEver
CE Infosystems received an order worth Rs 400 crore from Hyundai AutoEver Corp for Hyundai and Kia Cars OEM business.
The company received an order for map, connected services for Hyundai and Kia Cars.
Source: Exchange Filing
Hyundai Motor To Invest Rs 6,000 Crore In Maharashtra
Hyundai Motor's India unit to invest Rs 6000 crore in Maharashtra.
The company to start production at Maharashtra plant in 2025.
Source: Bloomberg
Varun Beverages Has 12.7 Lakh Shares Change Hands In Large Trade
The company had 12.7 lakh shares changed hands in a large trade.
Its 0.1% equity changed hands at Rs 1,239 apiece.
Buyers and sellers not known immediately.
Source: Bloomberg
Banks Places Bids Worth Rs 1.35 Lakh Crore In 3-Day VRR Auction
Banks placed bids worth Rs 1.35 lk cr in 3-day VRR auction conducted today by RBI
Notified amount for the auction was Rs 50,000 crore.
Auction cut-off was at 6.73%.
Source: RBI
Tata Consumer To Raise Funds Via Commercial Papers & Right Issues
Tata Consumer Products Ltd approved fund raising of up to Rs 3,500 crore via commercial papers.
It will use the proceeds of fundraise via CP for stake buy in Capital Foods, Organic India.
The company approved fund raising of up to Rs 3,000 crore via rights issue.
Source: Exchange Filing
BSE MD Says Scope For More Companies To Go For IPOs
Significant role performed by bourses in capital formation, Bombay Stock Exchanges Ltd's Managing Director Ramamurthy said.
He said India's primary market provides democratic access, transparency.
Scope for more cos to go for IPOs, just scratched surface, Ramamurthy said.
BSE MD said at AIBI Annual Convention - Ease of Capital Formation.
Innova Captab Touches Record High
Shares of Innova Captab Ltd. jumped to record high since listing on Dec. 29 after its profit jumped in the second quarter.
The company's consolidated net profit rose 22.5% to Rs 22.9 crore in the quarter ended September 2023, according to an exchange filing.
Shares of the company rose 13.64% to Rs 590 apiece, the highest level since listing. It pared gains to trade 5.37% higher at Rs 545 apiece as of 10:33 a.m. This compares to a 0.94% advance in the NSE Nifty 50 Index.
The stock has risen 22.10% from listing date. Total traded volume so far in the day stood at 1.1 times its 30-day average. The relative strength index was at 70.54, indicating that the stock may be overbought.
RVNL Rises Over 12% To Record High
Rail Vikas Nigam rose as much as 12.73% to Rs 274 apiece, the highest level since its listing on April 11, 2019. It trading 11.21% higher at Rs 270.90 apiece, as of 10:52 a.m. This compares to a 0.84% advance in the NSE Nifty 50 Index.
It has risen 250.97% in 12 months. Total traded volume so far in the day stood at 3.7 times its 30-day average. The relative strength index was at 92.18, which implied the stock is overbought.
Out of three analysts tracking the company, one maintain a 'buy' rating, two recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies a downside of 38.9%.
BofA Reiterates 'Underperform' On IndiaMarts
Reiterates underperform revises TP to Rs. 2500 from Rs. 2,175
IndiaMart 3QFY24 missed both BofA & Street estimates.
EBITDA miss on higher employee cost.
Higher churn in both silver annual & monthly packs, collection growth. was largely in line.
Tweaks FY25/ 26E EPS numbers to Rs 59.6/ 70.6.
BofA On Indian Telecom
The brokerage expect majority demand to be led by 5G densification.
BofA see fibre demand will be driven by towers, home-brand. enterprises, data centres, edge notes etc.
Fibre traffic also to emerge from inter-city connection routers
Sees Data Centres in India to grow at 20% CAGR from current 1700+ MW to 3900+ MW by FY27.
Powergrid Has 17.1 Lakh Shares Change Hands In Large Trade
Power Grid Corp has17.1 lakh shares changed hands in a large trade.
The company has 0.02% equity changed hands at Rs 233 apiece
Buyers and sellers not known immediately
Source: Bloomberg
Accelya Solutions Declines Over 4% Post Q3 Result
Shares of Accelya Solution Ltd fell as much as 4.60% to Rs 1,808.25 apiece. It trading 2.60% lower at Rs 1,846 apiece, as of 10:14 a.m. This compares to a 0.81% advance in the NSE Nifty 50 Index.
It has risen 19.47% in 12 months. Total traded volume so far in the day stood at 1.5 times its 30-day average. The relative strength index was at 71.78, which implied the stock is slightly overbought.
PNB Has 13.4 Lakh Shares Change Hands In Large Trade
Punjab National Bank has 13.4 lakh shares changed hands in a large trade.
The lender had 0.01% equity changed hands at Rs 100.15 apiece.
Buyers and sellers not known immediately.
Source: Bloomberg
Coal India Has 46.4 Lakh Shares Change Hands In Large Trade
Coal India has 46.4 lakh shares changed hands in a large trade.
The company has 0.1% equity changed hands at Rs 381.15 apiece.
Buyers and sellers not known immediately.
Source: Bloomberg
Varun Beverages Has 20 Lakh Shares Change Hands In Large trade
Varun Beverages has 20 lakh shares changed hands in a large trade.
The company's 0.2% equity changed hands at Rs 1,236 apiece.
Buyers and sellers not known immediately.
Source: Bloomberg
Metro Brands' Shares Fall 6%
Shares of Metro Brands slumped to its lowest level in nearly three months a day after the company announced its third quarter results, which fell short of Bloomberg expectations.
Glenmark Life Sign Supply Deal With Japanese Company
Glenmark Life Sciences Ltd signed a master supply pact with Japanese company.
The pharma company signed the pact to manufacture and supply API in therapeutic area of Urinary Anti-Spasmodic.
Source: Exchange Filing
Poonawalla Fincorp Surges Nearly 6% To Record High
Shares of Poonawalla Fincorp Lt surged nearly 6% to record high on Friday as the company posted 76% year-on-year growth in net profit for Oct-Dec period.
The company also recorded the highest ever quarterly profit in the third quarter of ongoing financial year, according to exchange filing. Its net profit grew 15% on sequential basis
NHPC Has 29.2 Lakh Shares Change Hands In Large Trade
NHPC had 29.2 lakh shares or 0.03% equity changed hands in a large trade
Buyers and sellers not known immediately
Source: Bloomberg
Nifty, Sensex Open Higher After Three-Day Fall As HDFC Bank, Infosys, ICICI Bank Gain: Opening Bell
India's benchmark indices opened higher after logging losses for straight three days as HDFC Bank Ltd, Infosys Ltd led gains.
As of 09:17, the benchmark NSE Nifty 50 was 161.65 points or 0.75% higher at 21,623.90, the S&P BSE Sensex was 626.19 points or 0.88% higher at 71,813.05.
The benchmark indices settled lower for third day in a row on Thursday, with the Nifty 50 and Sensex settling 0.51% and 0.44% down, respectively.
"With extreme swings on both the sides, the Index ended the weekly expiry day lower at 21,462.25. The Index has formed a Spinning Top candlestick pattern which indicates reversal of trend and to confirm the same, the Index needs to breach the hurdle of 21,530 while the immediate support is placed at low of 21,285. As per the Head & Shoulder breakdown, Bank Nifty met its downside target of 45,500 which will act as immediate support while the upside seems to be capped at 46,260," said Aditya Gaggar, director of Progressive Shares.
"Barring HDFC Bank, all other banks are pointing towards a reversal. From the Auto segment, stocks like BharatForge and M&M have shown signs of a reversal by forming an advanced harmonic cypher pattern with a hidden bullish divergence in RSI. Tyre stocks have also shown a strong momentum, one can hold their positions. We continue to remain bullish on OMCs from the Energy sector. Tech Mahindra from IT sector has given a classic breakout from a Cup and Handle formation and completed its pullback move as well which suggests a resumption of an uptrend," he added.
HDFC Bank Ltd, ICICI Bank Ltd, Infosys Ltd, ITC Ltd, Tata Consultancy Services Ltd contributed positively to the benchmark Nifty 50.
IndusInd Bank Ltd, Cipla Ltd, Bharat Petroleum Corp Ltd, Grasim Industries Ltd, Hero MotoCorp Ltd exerted pressure on the index.
On NSE, all 12 sectoral indices gain, with the Nifty Media rising 1.41% to become the top performer. Nifty PSU Bank index was the worst performer among its peers with 0.63% gain.
Broader markets outperformed. The BSE Midcap was up 0.93%, while the Smallcap was 1.08% higher. All 20 sectors compiled by BSE Ltd. advanced. S&P BSE Information Technology rose the most.
Market breadth was skewed in favour of buyers. Around 2,353 stocks rose, 383 stocks fell, and 73 remained unchanged.
Nifty, Sensex Higher In Pre-Open
At pre-open, the NSE Nifty 50 was 194.60 points or 0.91% higher at 21,656.85, while the S&P BSE Sensex was 596.9 points or 0.84 % up at 71,786.74.
Yield On The 10-Year Bond Flat
The yield on the 10-year bond opened flat at 7.19% on Friday.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency weakened 3 paise to open at 83.15 against the U.S dollar on Friday.
It closed at 83.12 on Thursday.
Source: Bloomberg
DRI Conducts Searches At Dixon Tech Manufacturing Arm
Dixon Technologies Ltd's manufacturing arm got searched by Director of Revenue Intelligence on Jan 17
Issues raised by DRI are interpretational in nature, co says no material impact
Stand committed to defend interpretation using all recourse available
Alert: DRI stands for Directorate of Revenue Intelligence
Source: Exchange Filing
Jefferies On India Pharmaceuticals
Rated Hold for Concord Biotech with target price of Rs 1,440
Rated Hold for Divi's Laboratories with target price of Rs 3,610
Rated Buy for Gland Pharma with target price of Rs 2,250
Rated Underperform for Laurus labs with target price of Rs 290
Rated Buy for Piramal Pharma with target price of Rs 170
Rated Hold for Syngene International with target price of Rs 770
Motilal Oswal Keeps 'Buy' Rating On IndiaMart
The brokerage maintained a "buy" rating on IndiaMart at Rs 3000 target
Deliver weak Q3 performance
Weak paying supplier addition a near-term concern for INMART
View INMART as long-term play on MSMEs transitioning to online model
Estimate INMART to deliver 21.5% revenue CAGR over FY23-26
Estimate cons. EBITDA margin of 28.2%/30.6% in FY25/FY26
Zydus Lifesciences Gets Licensing & Supply Deal With Synthon
Zydus Lifesciences Lts got an exclusive licensing & supply agreement with Synthon for Palbociclib Tablets for US market
Alert: Palbociclib is generic version of Ibrance
Source: Exchange Filing
Jeffries Rates 'Buy' On IIFL Finance At Target Price Rs 765
Affordable housing demand in metros, Tier1 is soft
Growth in MFI is expected to moderate, recalibrating growth in digital as well
NIM surprised positively, expect some moderation
Asset quality stable, balanced mix to keep credit costs controlled
Healthy profit growth expected to continue
Jefferies Keeps 'Buy' On ICICI Prudential Life Insurance
Maintain buy with price target of Rs 590
VNB fell 29% YoY on sharp margin fall from weak product mix, cost over-runs
Q4 guidance of double-digit premium growth reassuring, but may come at lower margins
Trim VNB est. by 3-4% for FY25-26, see 15% CAGR
Normalisation of VNB growth key to re-rating
Home First Gets 'Buy' From Jefferies
Jefferies rated Home First 'Buy' with a target price Rs 1,170
NII was a miss; portfolio yield fell 12bps, cost of funds rose 14bps
Other income higher than expectations
GS3 and credit costs steady
PAT was a beat on the back of better other income
Asian Markets Gain
Global Cues
U.S. Dollar Index at 103.38
U.S. 10-year bond yield at 4.16%
Brent crude down 0.15% at $78.98 per barrel
Nymex crude up 0.01% at $74.09 per barrel
Bitcoin up 0.35% at 41,215.60
GIFT Nifty up 0.16% or 35.5 points at 21,580.50 as of 8:15 a.m.
Citi Research Rates Indraprastha Gas With 'Buy'
The brokerage rated Indraprashtha Gas 'buy' with price target of Rs 510
Open a 90-day Positive Catalyst Watch on IGL
Key catalysts: volume growth, guidance
March 2024 volume guidance of 9 mmscmd, implying 10% yoy growth (highest among its peers)
Key triggers: Inorganic opportunities, favourable policy measures, cuts in central gov’t EV subsidies
Valuations relative to CGD peers (MGL & GUJGA), and to PLNG are now at multi-year lows
Foreign institutional ownership is also at a multi-year low
Make risk/reward favourable from a tactical perspective
Citi Research Maintains 'Buy' Rating On IndusInd Bank
Maintain buy with price target of Rs 2,010
The lender's Q3 results were better than Citi estimate
Slippages spiked driven by vehicle/corporate despite buffer usage credit cost at 1.2%
NIMs stable at 4.29%; deposit cost rise offset higher yields, LDR expansion
Loan growth led by high yielding segments; retail drives deposits growth
Marginally tweaking loan growth estimate down and building higher opex
Revise earnings down by 2-3%
Emkay Initiates Coverage On Aarti Industries
Emkay Global Research has Initiated Coverage on Aarti Industries Ltd with a 'Buy 'with target price of Rs 750
Expects MMA and MEA to be significantly large and scalable products over next few years
Poised for structural uptick led by benefits of Europe+1, competition in nitration
Expects core portfolio of PDCB and PNCB and other products to deliver significant delta to overall Ebitda
Expansion of existing value chain and entering newer value chain to aid earnings momentum
Next leg of growth driven by value added products
Entrance into downstream products to lead margin expansion and improve earnings quality
Expect FY24-26 revenue/Ebitda/PAT CAGR at 21%/38%/57%
Pledge Share Details
Gensol Engineering: Promoter Anmol Singh Jaggi created a pledge of 2.4 lakh shares and Gensol Ventures created a pledge of 15.50 lakh shares on Jan. 17.
Who’s Meeting Whom
Larsen and Toubro: To meet analysts and investors on Jan. 30.
Trading Tweaks
Price band revised from 10% to 5%: Bharat Wire Ropes.
Ex/record date dividend: Tata Consultancy Services, HCLTech.
F&O Cues
Nifty January futures down by 0.18% to 21,527.45 at a premium of 65.2 points.
Nifty January futures open interest down by 0.7%.
Nifty Bank January futures down by 0.6% to 45,869.25 at a premium of 155.7 points.
Nifty Bank January futures open interest down by 8.5%.
Nifty Options Jan. 25 Expiry: Maximum Call open interest at 22,000 and Maximum Put open interest at 21,0000.
Bank Nifty Options Jan. 25 Expiry: Maximum Call Open Interest at 50,000 and Maximum Put open interest at 46,500.
Securities in the ban period: Aditya Birla Fashion and Retail, Ashok Leyland, Balrampur Chini Mills, Bandhan Bank, Delta Corp, Hindustan Copper, Indian Energy Exchange, Metropolis Healthcare, National Aluminium, Polycab India, PVR Inox, SAIL, Zee Entertainment.
Block Deals
HCL Technologies: BNP Paribas Arbitrage sold 4.59 lakh shares (0.01%), and Societe Generale bought 4.59 lakh shares (0.01%) at Rs 1,575.9 apiece.
Infibeam Avenues: Abhishek Mayur Desai sold 39 lakh shares (0.14%), and Sonal Desai bought 39 lakh shares (0.14%) at Rs 26.15 apiece.
Bulk Deals
ADF Foods: Dar S Business Finance sold 10.21 lakh shares (0.92%) at Rs 190.78 apiece and Reliance Commercial Finance bought 5.5 lakh shares (0.5%) at Rs 192.32 apiece.
Lancer Container Lines: Eriska Investment Fund bought 12.5 lakh shares (0.57%) at Rs 97.47 apiece.
Dhanlaxmi Bank: Mohinidevi Goenka Investments sold 15 lakh shares (0.59%) at Rs 38.51 apiece.
Indian Energy Exchange: Indus India Fund (Mauritius) sold 50.17 lakh shares (0.56%) at Rs 138.08 apiece.
Sanghi Industries: Rajasthan Global Securities bought 22.15 lakh shares (0.85%) at Rs 121 apiece.
Tourism Finance Corp: Alpana Mundra sold 6.25 lakh shares (0.69%) at Rs 172.93 apiece.
Stocks To Watch
State Bank of India: The company raised Rs 5,000 crore through 10-year AT1 bonds.
REC: The company has been designated as the overall implementation agency for the rooftop solar programme of the Renewable Energy Ministry. The company aims to achieve a cumulative capacity of 40,000 MW from rooftop solar panels by 2026.
JSW Infrastructure: The company clarified on media reports that it is leading the race to acquire Navkar Corp. The company said there are no specific proposals underway regarding the matter in the news.
Shalby: The company will acquire an 87.26% stake in PK Healthcare for Rs 102 crore.
Lupin: The company receives US FDA approval for Febuxostat tablets.
Bandhan Bank: The lender received an RBI nod, appointing Rajinder Kumar Babbar as executive director for 3 years.
Wipro: The company will acquire a 14% stake in Huoban Energy 11 to enhance renewable energy usage.
Power Finance Corp: The company incorporated two special-purpose vehicles for developing transmission projects in Gujarat and Rajasthan.
Indian Bank: The company received approval from the RBI for setting up a new unit for operations support.
Dhunseri Ventures: The company made an investment of $1 million in DYL USA. The company's total investment stands at $3 million in DYL USA for a 79.68% stake.
Earnings In Focus
Reliance Industries, Hindustan Unilever, UltraTech Cement, Hindustan Zinc, Supreme Industries, One 97 Communications, Central Bank, CreditAccess Grameen, Hatsun Agro Product, RBL Bank, Tejas Networks, Atul, Wendt (India), CESC, and Avantel.
Earnings Post Market Hours
IndusInd Bank Q3 FY24 (Consolidated, YoY)
NII at Rs 5,295.7 crore vs Rs 4,495.3 crore, up 17.8%.
Net profit at Rs 2,301.5 crore vs Rs 1,963.6 crore, up 17.2% (Bloomberg estimate: Rs 2,336.30 crore).
GNPA at 1.92% vs 1.93% (QoQ).
NNPA at 0.57% vs 0.57% (QoQ).
Accelya Solutions Q3 FY24 (Consolidated, QoQ)
Revenue at Rs 124.74 crore vs Rs 127.29 crore, down 2.01%.
Ebitda at Rs 38.38 crore vs Rs 40.63 crore, down 5.54%.
Margin at 30.76% vs 31.91%.
Net profit at Rs 30.93 crore vs Rs 31.52 crore, down 1.87%.
Board declared an interim dividend of Rs 25 per share.
Poonawalla Fincorp Q3 FY24 Highlights (Standalone, YoY)
Revenue at Rs 762.61 crore vs Rs 501.37 crore, up 52.1%.
Net profit at Rs 265.1 crore vs Rs 150.4 crore, up 76.3% (Bloomberg estimate: Rs 255.44 crore).
Gross NPA: 1.33% vs 1.36% (QoQ).
Net NPA: 0.70% vs 0.72% (QoQ).
Board approves interim dividend of Rs 2 per share.
Board approves fundraising of up to Rs 4,000 crore via NCDs.
IndiaMart InterMesh Q3 FY24 (Consolidated, YoY)
Revenue at Rs 305.3 crore vs Rs 251.4 crore, up 21.43% (Bloomberg estimate: Rs 308.47 crore).
Ebitda at Rs 85.7 crore vs Rs 70.2 crore, up 22.07% (Bloomberg estimate: Rs 85.4 crore).
Margin at 28.07% vs 27.92% (Bloomberg estimate: 27.7%).
Net profit at Rs 81.9 crore vs Rs 112.8 crore, down 27.39% (Bloomberg estimate: Rs 78.7 crore).
Home First Finance Q3 FY24 (YoY)
Revenue at Rs 296.3 crore vs Rs 205.4 crore, up 44.3%.
Net profit at Rs 78.8 crore vs Rs 58.7 crore, up 34.2%.
360 One WAM Q3 FY24 (Standalone, YoY)
Revenue at Rs 74.4 crore vs Rs 39.22 crore, up 89.69%.
Net profit at Rs 143.22 crore vs Rs 105.92 crore, up 35.21%.
Board declared dividend of Rs 4.5 per share.
Metro Brands Q3 FY24 (Consolidated, YoY)
Revenue at Rs 635.5 crore vs Rs 598.7 crore, up 6.1% (Bloomberg estimate: Rs 729.18 crore).
Ebitda at Rs 199 crore vs Rs 205.2 crore, down 3% (Bloomberg estimate: Rs 235.37 crore).
Margin at 31.31% vs 34.27% (Bloomberg estimate: 32.3%).
Net profit at Rs 98.8 crore vs Rs 113 crore, down 12.6% (Bloomberg estimate: Rs 126.63 crore).
Shoppers Stop Q3 FY24 (Consolidated, YoY)
Revenue at Rs 1,237.5 crore vs Rs 1,137.1 crore, up 8.8%.
Ebitda at Rs 217.5 crore vs Rs 212.8 crore, up 2.2%.
Margin at 17.57% vs 18.71%.
Net profit at Rs 36.9 crore vs Rs 62.7 crore, down 41.1%.
Supreme Petrochem Q3 FY24 (Consolidated, YoY)
Revenue at Rs 1,187.7 crore vs Rs 1,180.4 crore, up 0.6%.
Ebitda at Rs 94.87 crore vs Rs 119.26 crore, down 20.5%.
Margin at 7.98% vs 10.1%.
Net profit at Rs 67.7 crore vs Rs 89.8 crore, down 24.6%.
Innova Captab Q2 FY24 (Consolidated, YoY)
Revenue at Rs 282.9 crore vs Rs 242.2 crore, up 16.8%.
Ebitda at Rs 40.4 crore vs Rs 31.2 crore, up 29.5%.
Margin at 14.28% vs 12.88%.
Net profit at Rs 22.9 crore vs Rs 18.7 crore, up 22.5%.
Finolex Industries Q3 FY24 (Consolidated, YoY)
Revenue at Rs 1,019.7 crore vs Rs 1,124.8 crore, down 9.4% (Bloomberg estimate: Rs 1,108.96 crore).
Ebitda at Rs 119.98 crore vs Rs 91.89 crore, up 30.6% (Bloomberg estimate: Rs 156.3 crore).
Margin at 11.76% vs 8.16% (Bloomberg estimate: 14.1%).
Net profit at Rs 95.4 crore vs Rs 79.5 crore, up 20% (Bloomberg estimate: Rs 125.1 crore).
GIFT Nifty Trades Above 21,500
Stock indices in the Asia-Pacific region gained during early trade on Friday, buoyed by overnight gains in tech stocks on Wall Street following positive earnings reports from companies.
The Nikkei 225 was trading 461.22 points, or 1.30% higher, at 35,927.39 as of 7:04 a.m. Japan reported its core consumer price at 2.3% year-on-year in December 2023, up from 2.5% in November, marking the lowest level since July 2022.
The KOSPI and S&P ASX 200 were trading 1.23% or 0.84% higher, respectively, as of 7:04 a.m.
Taiwan Semiconductor Manufacturing Co. posted better-than-expected profit and revenue for the October–December period and guided for robust growth in 2024, which sparked hopes for tech stock recovery, according to media reports.
TSMC's biggest client, Nvidia Corp., an index-heavy stock, gained 1.9% on Friday, supporting the tech stocks' rally.
The Nasdaq 100 index rose 1.47% to settle at an all-time high on Friday. The S&P 500 index closed 0.88% higher, while the Dow Jones Industrial Average fell by 0.54%.
U.S. bond yields climbed on speculation that the Federal Reserve will be in no rush to cut interest rates as the economy shows signs of resilience, according to Bloomberg.
Brent crude was trading 0.05% lower at $79.06 a barrel. Gold was up by 0.05% at $2,024.26 an ounce.
The GIFT Nifty was trading 0.16%, or 35.5 points, higher at 21,580.50 as of 8:15 a.m.
India’s benchmark indices continued their losing rally for the third consecutive session on Thursday, as HDFC Bank Ltd. and LTIMindtree Ltd. dragged after their third-quarter results. The NSE Nifty 50 closed 109.70 points, or 0.51%, down at 21,462.25, while the Sensex ended 313.90 points, or 0.44%, lower at 71,186.86.
Overseas investors remained net sellers of Indian equities for the second consecutive session on Thursday. Foreign portfolio investors offloaded equities worth Rs 9,901.6 crore, while domestic institutional investors stayed net buyers for the second straight day and mopped up stocks worth Rs 5,977.1 crore, the NSE data showed.
The Indian rupee strengthened 2 paise to close at Rs 83.12 against the U.S. dollar on Thursday.
RECOMMENDED FOR YOU
Stock Market Today: All You Need To Know Going Into Trade On July 10
Jul 10, 2025
.jpg?rect=0%2C0%2C3500%2C1969&w=75)
Union Bank Of India Share Price Dips As Q1 Advances, Deposits Decline
Jul 09, 2025
Stock Market Today: All You Need To Know Going Into Trade On July 3
Jul 03, 2025
Stock Market Today: All You Need To Know Going Into Trade On July 1
Jul 01, 2025
POPULAR