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"The equity market continued to be in the grip of extreme volatility, which has been a continuous feature of the markets during the whole week. The concerns over rising interest rates in the US, the likely Fed rate action, the build- up of political and military tensions in Eastern Europe, and the adverse effects of the new variant of the pandemic, are all factors that worked on the minds of the investors", Dr Joseph Thomas, Head of Research at Emkay Wealth Management wrote in a note and added that "these factors, by their very nature, are likely to influence the markets in the coming weeks too".
No bids accepted for Rs 6,000 crore auction of 2026 bonds.
No bids accepted for Rs 9,000 crore auction of 2035 bonds.
Rs 2,000 crore raised via 2023 bonds and Rs 8,525 crore raised via 2051 bonds.
No devolvement on primary dealers.
Source: RBI
V-Guard raised to 'buy' from 'accumulate' at Elara Securities India; price target set at Rs 290.
Source: Bloomberg
Max Healthcare Institute Ltd. is lower for the sixth straight day, on track for the longest losing streak in 18 months
Source: Bloomberg
Equitas Holdings rises for the eighth day, on track for the longest winning streak in over 14 months.
DCB Bank is higher for the eighth straight day, on track for the longest winning streak in over six and a half years.
IRB Infra rises for the eighth day, on track to the longest winning streak in four years.
Source: Bloomberg
Three subsidiaries of Adani Green Energy Ltd., Adani Green Energy (UP) Ltd., Prayatna Developers Pvt Ltd. and Parampujya solar Energy raised Rs 612.30 by their maiden domestic bond issuance, on private placement basis.
The three firms collectively house 930 million of operational solar power projects.
Source: Bloomberg
The board provided an omnibus approval to set up a new subsidiary towards building a portfolio of digital brands across categories in fashion, beauty and other allied lifestyle segments.
This venture will initially be funded through ABFRL’s internal accruals. At an appropriate time, the company will look to bring in external capital.
The entity will organically incubate and also acquire “promising and scalable” D2C brands.
The company will now accelerate the process of building the D2C framework and identifying key talent for this play.
ABFRL will look to tap into the broader tech ecosystem and collaborate with its ecommerce partners and tech service providers to scale this business.
Source: Exchange filing
DDMA meeting decides to reopen schools, colleges, coaching institutes, and gyms in Delhi. Duration of night curfew reduced by one hour (between 11 pm & 5 am): Sources pic.twitter.com/L8bocrtSj7
— ANI (@ANI) February 4, 2022
India will not rush into selling the country's second-biggest state refiner if it ends up with a lone suitor.
"We need competitive bids, we cannot do it with a single bid", says Tuhin Kanta Pandey.
Only three suitors have shown interest in buying 53% stake in BPCL -- Vedanta Group, Apollo Global Management and I Squared Capital Advisors.
Source: Bloomberg
The broader indices almost mirrored their larger peers. Ten of the 19 sectoral indices compiled by BSE Ltd. declined with S&P BSE Realty shedding over 1.7%. On the flipside, the S&P BSE Metal index rose over 1.8%.
The market breadth was skewed in the favour of bulls. About 1,661 stocks advanced, 1,582 declined and 103 remained unchanged.
Lupin Q3 Results: Profit Rises On Tax Reversal, Margin Contracts
Vedant Fashions IPO Subscription Status: Day 1 Live Updates
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State-run Life Insurance Corp. of India, which is set to file for India's largest ever initial public offering, will sell its products on online insurance aggregator PB Fintech Ltd.'s Policybazaar platform, according to an emailed statement.
The tie-up between LIC and Policybazaar will help quick digital distribution of insurance products across remote corners of the country.
Source: Bloomberg
Dhani Services has 10 million share change hands in a large trade.
Details of buyers, sellers are not immediately known
Source: Bloomberg
Cadila Healthcare raised to 'buy' from 'accumulate' at Nirmal Bang; price target set at Rs 546.
Godrej Properties cut to 'hold' from 'buy' at Edelweiss Capital'; price target set at Rs 1,875.
Source: Bloomberg
Of the 14 analysts tracking the company, four maintained 'buy', five maintained 'hold' and five maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied a downside of 12.1%.
Trading volume on the stock was 14 times the 30-day average volume at this time of the day. Share price crossed above the 50-day simple moving average, indicating potential upward price momentum.
Source: Exchange Filing, Bloomberg
JK Lakshmi Cement raised to 'buy' from 'sell' at Nirmal Bang; price target set at Rs 675.
ITC raised to 'buy' from 'hold' at Edelweiss Capital; price target set at Rs 285.
Dabur India raised to 'buy' from 'accumulate' at Nirmal Bang; price target set at Rs 640.
Source: Bloomberg
ITC Q3 Review: Most Analysts Say 'Buy' Despite Commodity Cost Pressures
Yields rose across the India sovereign yield curve in Friday morning trading.
The 2-year yield rose 3.8bps to 5.136%
The 10-year yield rose 3.9bps to 6.929%.
The 14-year yield rose 2bps to 7.344%.
Source: Bloomberg
Yield on benchmark 10-year government bonds climbed 5bps to 6.94% Friday and is up 19bps this week.
This is the biggest weekly jump since December 2019 and come after the government unveiled record borrowing plan for the next year.
Source: Bloomberg
Blue Star raised to 'buy' at Asian Markets; price target set at Rs 1,157.
Bajaj Consumer cut to 'hold' from 'buy' at Edelweiss Capital; price target set at Rs 200.
Source: Bloomberg
Shares of Adani Ports & Special Economic Zone Ltd. rose nearly 1.2%, the biggest intraday gain in four days, after the company crossed a milestone of handling a record 250 MMT in ten months of operations and handled a cargo volume of 259 MMT.
In Jan. 2022, APSEZ portfolio of ports handled total cargo volume of 24.74 MMT.
The cargo composition for the month remained stable at dry cargo at 47%, container at 40%, liquid at 12.5% and gas cargo at 0.5%.
Of the 26 analysts tracking the company, 24 maintained 'buy', one maintained 'hold' and one maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 17.7%,
Source: Exchange Filing, Bloomberg
CG Power & Industrial Solutions Ltd. has 2.87 million shares change hands in a large trade.
Details of buyers, sellers are not immediately known.
Source: Bloomberg
Ridham Desai Picks A Certain Bet For India's Upcoming Growth Cycle
Titan Q3 Review: Shares Pare Opening Gains Even As Analysts Say 'Buy' After Q3
The S&P BSE MidCap almost mirrored its larger peers while the S&P BSE SmallCap outperformed, as it remained little changed. Ten of the 19 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Metal index rising over 0.6%. On the flipside, the S&P BSE Information Technology and Realty indices fell over 1%.
The market breadth was skewed in the favour of bulls. About 1,507 stocks advanced, 1,035 declined and 85 remained unchanged.
Dalmia Bharat upgraded to 'buy' by Maybank; price target set at Rs 2,200.
M&M Financial cut to 'add' at YES Research; price target set at Rs 190.
Navin Fluorine cut to 'accumulate' at KR Choksey; price target set at Rs 4,494.
NMDC upgraded to 'buy' by Equirus Securities Pvt Ltd; price target set at Rs 194.
Somany Ceramics upgraded to 'buy' by IDBI Capital Market.
TTK Prestige upgraded to 'add' by Yes Research; price target set at Rs 1,056.
Source: Bloomberg
Tata Steel
Whirlpool of India
Sun Pharma Advanced Research
Divi's Laboratories
InterGlobe Aviation
Shree Cement
Siemens
One 97 Communications
Aditya Birla Fashion and Retail
Birla Corporation
Firstsource Solutions
Alkem Laboratories
Godrej Agrovet
Thermax
Astral
Bayer Cropscience
CreditAccess Grameen
City Union Bank
Dalmia Bharat Sugar and Industries
Devyani International
DFM Foods
Eveready Industries India
Gujarat Narmada Valley Fertilizers & Chemicals
Jamna Auto Industries
Jubilant Pharmova
KIOCL
Lakshmi Machine Works
Mahindra Lifespace Developers
Minda Corporation
NOCIL
REC
Venky's (India)
Vijaya Diagnostic Centre
Stocks To Watch: Tata Steel, Divi's Labs, Indigo, ITC, Paytm, Shree Cement, Siemens, Whirlpool
ITC Q3FY22 (Consolidated, YoY)
Revenue up 30% at Rs 18,365.8 crore Vs Rs 14,124.48 crore (Bloomberg estimate: Rs 14,169.9 crore)
Net profit up 15% at Rs 4,056.73 crore Vs Rs 3,526.55 crore (Bloomberg estimate: Rs 3,951.7 crore)
Ebitda up 17% at Rs 5,597.67 crore Vs Rs 4,785.02 crore (Bloomberg estimate: Rs 5,349.8 crore)
Margins at 30.5% Vs 33.9% (Bloomberg estimate: 37.8%)
Pfizer Q3FY22 (Consolidated, YoY)
Revenue up 14% at Rs 675.9 crore Vs Rs 593.5 crore (Bloomberg estimate: Rs 621.2 crore)
Net profit up 2% at Rs 143.9 crore Vs Rs 141.2 crore (Bloomberg estimate: Rs 125.1 crore)
Ebitda down 1% to Rs 195.2 crore Vs Rs 196.8 crore (Bloomberg estimate: Rs 182.6 crore)
Margin at 28.9% Vs 33.2% (Bloomberg estimate: 29.4%)
EPS at Rs 31.46 per share Vs Rs 30.87 per share (Bloomberg estimate: Rs 26.8)
Adani Power Q3FY22 (Consolidated, YoY)
Revenue down 22% at Rs 5,360.88 crore Vs Rs 6,894.84 crore
Net profit of Rs 218.49 crore Vs Net loss of Rs 288.74 crore
Ebitda up 9% at Rs 1,770.77 crore Vs Rs 1,622.94 crore
Margin at 33% Vs 23.5%
Torrent Power Q3FY22 (Consolidated, YoY)
Revenue up 28% at Rs 3,767.43 crore Vs Rs 2,952.75 crore
Net profit up 15% at Rs 368.08 crore Vs Rs 320.5 crore
Ebitda up 7% at Rs 933.95 crore Vs Rs 870.28 crore
Margin at 24.8% Vs 29.5%
Approved interim dividend of Rs 9 per share.
PI Industries Q3FY22 (Consolidated, YoY)
Revenue up 17% at Rs 1,356.30 crore Vs Rs 1,162.10 crore
Net profit up 14% at Rs 222.60 crore Vs Rs 195.40 crore
Ebitda up 9% at Rs 293.53 crore Vs Rs 269.56 crore
Margin at 21.6% Vs 23.2%
Declared an interim dividend of Rs 3 per share
Coromandel International Q3FY22 (Consolidated, YoY)
Revenue up 44% at Rs 5,073.60 crore Vs Rs 3,533.01 crore
Net profit up 14% at Rs 381.58 crore Vs Rs 333.80 crore
Ebitda up 9% at Rs 544.85 crore Vs Rs 499.23 crore
Margin at 10.7% Vs 14.1%
Aditya Birla Capital Q3FY22 (Consolidated, YoY)
NII up 18% at Rs 4,827.71 crore Vs Rs 4,091.01 crore
Net profit at Rs 576.74 crore Vs Rs 288.68 crore
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