State Bank of India, REC Ltd. and JSW Infrastructure Ltd. will be among the major stocks to watch on Friday.
SBI on Thursday raised Rs 5,000 crore through 10-year AT-1 bonds, while REC was designated as the overall implementation agency for the rooftop solar programme of the Renewable Energy Ministry. JSW Infrastructure clarified on media reports stating that it is leading the race to acquire Navkar Corp.
IndusInd Bank Ltd., Supreme Petrochem Ltd., and Finolex Industries Ltd. will also be in focus as they announced their results for the quarter ended December on Thursday.
Share indices in Asia-Pacific region gained in early trade on Friday, buoyed by overnight gains in tech stocks on Wall Street following positive earning reports from companies.
The Nikkei 225 was trading 559.67 points or 1.58% higher at 36,025.84 as of 6:31 a.m. Japan reported its core consumer price at 2.3% year-on-year in December 2023, from 2.5% in November, marking lowest level since July 2022.
The KOSPI and S&P ASX 200 were trading 1.38% or 0.96% higher respectively as of 6:34 a.m.
Taiwan Semiconductor Manufacturing Co posted better-than-expected profit and revenue for Oct-Dec period, and guided for robust growth in 2024, which sparked hopes for tech stocks recovery, according to media reports.
TSMC's biggest client, Nvidia Corp, a index-heavy stock, gained 1.9% on Friday, supporting the tech stocks' rally.
The Nasdaq 100 index rose 1.47% to settled at all-time high on Friday. The S&P 500 index closed 0.88% higher, while the 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 1.57% higher at $79.10 a barrel. Gold was up by 0.01% at $2,023.54 an ounce.
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.
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).
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%.
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).
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%.
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%.
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, Avantel.
Stocks To Watch
State Bank of India: The company raised Rs 5,000 crore through 10-year AT-1 bonds.
REC: The company has been designated as the overall implementation agency for the rooftop solar program 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 stating that it is leading the race to acquire Navkar Corp. The company said there is no specific proposals underway regarding the matter in the news.
Shalby: The company will acquire a 87.26% stake in PK Healthcare for Rs 102 crore.
Lupin: The company receives USFDA approval for Febuxostat tablets.
Bandhan Bank: The lender received RBI nod for 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.
Bajaj Finance: The company will consider raising funds via bond issue during its board meeting on Jan. 29.
Jindal Stainless: The company sees its FY24 export target hit by red sea crisis, as it increased shipping time by 15-20 days.
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.
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.
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.
Research Reports
Landmark Cars - Premium Focus To Help Grow Ahead Of Industry: Prabhudas Lilladher
Pharma Q3 Results Preview - Streaming To New Highs: ICICI Securities
Tata Consumer - Creating Value Through Inorganic Route: Systematix
NBFCs Q3 Results Preview - Strong Growth Traction To Continue Across Asset Classes: ICICI Securities
RECOMMENDED FOR YOU
.jpeg?rect=0%2C0%2C3500%2C1969&w=75)
