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Budget Day 2022: All You Need To Know Going Into Trade On February 1

Stocks in the news, big brokerage calls of the day, complete trade setup and much more!

<div class="paragraphs"><p>A man strikes a yoga pose as the South Block, which houses the Prime Minister’s Office and Ministries of Defence and External Affairs, and the North Block, right, which houses Ministries of Finance and Home Affairs, in New Delhi in May 2019. (Photographer: T. Narayan/Bloomberg)</p></div>
A man strikes a yoga pose as the South Block, which houses the Prime Minister’s Office and Ministries of Defence and External Affairs, and the North Block, right, which houses Ministries of Finance and Home Affairs, in New Delhi in May 2019. (Photographer: T. Narayan/Bloomberg)

Asian stocks on Tuesday rose, aided by spillover effects from the technology-led rally in the U.S. spurred by dip buyers.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, rose nearly 1% to 17,517.50 as of 6:20 a.m.

Shares advanced in Japan and Australia. Several Asian markets including China and South Korea are shut for the Lunar New Year holiday.

U.S. futures fell after S&P 500 and Nasdaq 100 logged the best two-day jump since April and November 2020, respectively.

Elsewhere, oil extended a climb having posted its biggest January gain in at least 30 years. Bitcoin traded in the vicinity of $38,300.

Follow BloombergQuint's live coverage for the Union Budget here.

Find out how markets are moving in the build-up to Sitharaman's speech.

Join this live blog by BQ's Editors for a real-time budget analysis.

Budget Day 2022: All You Need To Know Going Into Trade On February 1

Post Market Hour Earnings

Tata Motors Q3FY22 (Consolidated, YoY)

  • Revenue down 5% at Rs 72,229.29 crore Vs Rs 75,653.79 crore (Bloomberg estimate: Rs 72,679.97 crore)

  • Net loss of Rs 1,516.14 crore Vs Net profit of Rs 2,906.45 crore (Bloomberg estimate: Rs 988.9 crore)

  • Ebitda down 42% at Rs 7,078 crore Vs Rs 12,132.7 crore (Bloomberg estimate: Rs 6,791.20 crore)

  • Margin at 9.8% Vs 16%

Hindustan Petroleum Corporation Ltd Q3FY22 (Standalone, YoY)

  • Revenues up 40.7% at Rs 96,602.37 crore Vs Rs 68,659.21 crore (Bloomberg estimate: Rs 1,03,000 crore)

  • Net profit down 63.1% at Rs 868.86 crore Vs Rs 2,354.64 crore (Bloomberg estimate: Rs 2,543.6 crore)

  • Ebitda down 43.3% at Rs 1,870.72 crore Vs Rs 3,301.52 crore (Bloomberg estimate: Rs 4,039.7 crore)

  • Margin at 1.9% Vs 4.8% (Bloomberg estimate: 3.9%)

Indian Oil Corporation Ltd Q3FY22 (Standalone, YoY)

  • Revenues up 57% at Rs 1,66,788.16 crore Vs Rs 1,06,202.27 crore (Bloomberg estimate: Rs 1,60,000 crore)

  • Net profit up 19.2% at Rs 5,860.8 crore Vs Rs 4,916.59 crore (Bloomberg estimate: Rs 6,769.7 crore)

  • Ebitda up 2.6% at Rs 9,862.11 crore Vs Rs 9,613.7 crore (Bloomberg estimate: Rs 12,445 crore)

  • Margin at 5.9% Vs 9.1% (Bloomberg estimate: 7.8%)

DLF Q3FY22 (Consolidated, YoY)

  • Revenue at Rs 1,549.70 crore Vs Rs 1,543.03 crore

  • Net profit down 16% at Rs 379.48 crore Vs Rs 451.18 crore

  • Ebitda up 4% at Rs 521.32 crore Vs Rs 499.08 crore

  • Margin at 33.6% Vs 32.3%

Shipping Corporation of India Q3FY22 (Consolidated, YoY)

  • Revenue up 71% at Rs 1,438.23 crore Vs Rs 841.23 crore

  • Net profit at Rs 311.54 crore Vs Rs 131.57 crore

  • Ebitda at Rs 472.13 crore Vs Rs 225.65 crore

  • Margin at 32.8% Vs 26.8%

UCO Bank Q3FY22 (Consolidated, YoY)

  • NII up 25% at Rs 1,762.61 crore Vs Rs 1,407.16 crore (YoY)

  • Net profit at Rs 310.39 crore Vs Rs 35.44 crore (YoY)

  • GNPA at 8% Vs 8.98% (QoQ)

  • NNPA at 2.81% Vs 3.37%(QoQ)

  • Provisions at Rs 548.61 crore Vs Rs 1,018.62 crore (QoQ)

Opinion
Tata Motors Q3 Results: Posts Wider-Than-Expected Loss, Revenue Falls

Stocks To Watch

  • Gail: The company commenced India's first-of-it's-kind project of mixing hydrogen into natural gas system at Indore, Madhya Pradesh.

  • BPCL: The company declared second interim dividend of Rs 5 per share.

  • SBI: The company entered into an agreement with Tata Power Solar Systems for financing solar projects to launch a centralized processing cell - ‘Surya Shakti Cell.’ It will process all the loan applications for Solar Projects (capacity up to 1 MW) sourced from across India, for installation by business entities and households.

  • Tata Steel Long Products: The company won the bid to acquire a 93.71% equity stake in the Neelachal Ispat Nigam Limited for a total consideration of Rs 12,100 crore.

  • NTPC: The company’s subsidiary NTPC Vidyut Vyapar Nigam has acquired d 5% equity stake in the Power Exchange of India.

  • EaseMyTrip: The company appointed Nutan Gupta as Chief Executive Officer with effect from April 1, 2022, consequent to the resignation of Nishant Pitti. Pitti will remain as the Chairman.

  • Subex: The company appointed Sumit Agarwal as the Chief Financial Officer.

  • CSB: The bank revised Overnight Marginal Cost of Funds Based Lending Rates from 7.5% to 7.6% from Feb. 1

  • Edelweiss Financial Services: The company appointed Ananya Suneja as Chief Financial Officer effective from March 1, 2022 in place of Sarju Simaria who will move to a new role. The company also been allotted 20,00,00,000 equity shares of Rs. 10 each of Edelweiss Tokio Life Insurance increasing company’s stake from 51% to 66%.

  • Orient Cement: The company entered into share purchase, subscription and shareholder’s agreement with AMPSolar Technology and AMPSolar Systems for the acquisition of 26% stake in AMPSolar Systems for putting up the solar power plant with capacity of 13.5 MW, under Captive Scheme.

  • DB Realty: The company will consider the proposal for raising of funds by way of Private Placement / Preferential Issue of Convertible Warrants/ Equity Shares / other equity linked Securities on Feb. 3.

  • Mahanagar Gas: The company will consider declaration of dividend on Feb. 8.

  • APAR Industries: The company has appointed Ramesh Seshan lyer as the chief Financial officer.

  • Jet Freight: The company’s subsidiary Jet Freight Express began operations of its last-mile delivery via Electric Vehicle in an exclusive contract with several e-commerce companies. Jet Freight plans to include more electric vehicles to serve multinational companies.

  • Emami: The company will consider second interim dividend and proposal of buy back of the fully paid-up equity shares on Feb. 3.

  • Ansal Housing: The company has defaulted on the interest payment of Rs 16 lakh as on Dec. 31.

  • Shriram EPC: The company has defaulted on the loan payment of Rs 339.16 crore as on Dec. 31.

  • Aarti Industries: The company will consider the declaration of dividend on Feb. 5.

  • Great Eastern Shipping: The company deleted A. H. Bhiwandiwalla Consultancy from the list of promoter group as the company has been voluntarily dissolved.

Opinion
April-December Fiscal Deficit At Half Of FY22 Budget Estimate

Earnings To Watch

  • Adani Ports And Special Economic Zone

  • Tech Mahindra

  • Procter & Gamble Hygiene & Health Care

  • Cholamandalam Investment and Finance Company

  • Poonawalla Fincorp

  • Sona BLW Precision Forgings

  • Kansai Nerolac Paints

  • Laxmi Organic Industries

  • Elecon Engineering Co

  • Gujarat Ambuja Exports

  • Prism Johnson

  • Cantabil Retail India

  • Goodyear India

  • IFB Industries

  • Indian Hotels Co

  • Indoco Remedies

  • Jubilant Ingrevia

  • Mangalore Chemicals & Fertilizers

  • TTK Prestige

  • VIP Industries

  • Neuland Laboratories

  • Oriental Carbon & Chemicals

  • Sutlej Textiles & Industries

  • Triveni Turbine

Offerings

  • Adani Wilmar IPO subscribed 17.37 times on the final day.

  • Cyber Media India to explore IPO of its unit Cyber Media Research. The company will also sell shares through the offering.

Pledged Shares Details

  • Sun Pharmaceutical Industries: Promoter Group Shanghvi Finance created a pledge of 54 lakh shares on Jan. 25.

Opinion
BharatPe's Ashneer Grover Faces All-Encompassing Review

Bulk Deals

  • Kirloskar Ferrous Industries: Cybage Software bought 9.25 lakh (0.67%) shares at the price of Rs 212.49 apiece.

Insider Trades

  • Bajaj Holdings & Investment: Promoter Group Bachhraj & Company bought 1.75 lakh shares between Jan. 27 and Jan. 28.

  • Axis Bank: Promoter Life Insurance Corporation bought 1.77 lakh shares between Jan. 24 and Jan. 27.

  • GNA Axles: Promoter Group GNA Gears bought 600 shares between Jan. 17 and Jan. 25.

Opinion
Byju’s Aims for SPAC Merger Agreement Within a Month

Who’s Meeting Whom

  • Paytm: To meet investors and analysts on Feb. 5.

  • DLF: To meet investors and analysts on Feb. 2.

  • Subex: To meet investors and analysts on Feb. 1.

  • Pokarna: To meet investors and analysts on Feb. 2.

  • SMC Global: To meet investors and analysts on Feb. 2.

  • Navneet Education: To meet investors and analysts on Feb. 3.

  • Care Ratings: To meet investors and analysts on Feb. 2.

  • IHCL: To meet investors and analysts on Feb. 2.

  • Castrol: To meet investors and analysts on Feb. 7.

  • Suryoday Small Finance: To meet investors and analysts on Feb. 4.

  • Firstsource Solutions: To meet investors and analysts on Feb. 4.

  • Balaji Amines: To meet investors and analysts on Feb. 3.

  • Navin Fluorine: To meet investors and analysts on Feb. 2.

Opinion
Indian Economy Contracted Less Than Projected In FY21

Trading Tweaks

  • Record Date Interim Dividend: CCL Products (India), Visaka Industries, Saregama India, Mastek

  • Ex-Date Interim Dividend: Orient Electric, PBCL

  • Ex-Date Income Distribution: India Grid Trust

  • Move Into Short-Term ASM Framework: Pearl Global Industries

  • Move Out Of Short-Term ASM Framework: HSIL, Khaitan Chemicals & Fertilisers

Opinion
Indian Oil Q3 Results: Profit Rises 19%, Missing Estimates

Money Market Update

The rupee ended at Rs 74.62 against the U.S. Dollar on Monday as compared to Friday's closing of 75.04.

Opinion
Indian Equities Outperformed Global Peers In January Amid High Volatility: Credit Suisse

Analyst Actions

  • Britannia raised to 'buy' at Prabhudas Lilladher; price target set at Rs 4,139.

  • Britannia cut to 'reduce' at Dolat Capital; price target set at Rs 3,709.

  • Coforge cut to 'hold' at ICICIdirect.com; price target set at Rs 5,300.

  • Dr. Reddy's raised to 'buy' at ICICIdirect.com; price target set at Rs 5,160.

  • Happiest Minds raised to 'buy' at KR Choksey; price target set at Rs 1,510.

F&O Cues

  • Nifty February futures ended at 17,367.75; a premium of 27.90 points.

  • Nifty February futures shed 11.20% and 23,681 shares in Open Interest.

  • Nifty Bank February futures ended at 38,088; a premium of 112.65 points.

  • Nifty Bank February futures added 3.34% and 2,659 shares in Open Interest.

Budget Day 2022: All You Need To Know Going Into Trade On February 1