Stock Market Today: Sensex, Nifty Close Higher Ahead Of Interim Budget As HDFC Bank, RIL Rise

The market breadth was skewed in favour of the buyers. About 2,454 stocks rose, 1,380 declined, and 80 remained unchanged on the BSE.

• Revenue up 3.5% at Rs 1,378.1 crore vs Rs 1331.8 crore

• Ebitda up 2.2% at Rs 280.1 crore vs Rs 286.4 crore

• Margin at 20.3% vs 21.5%

• Net profit down 18.3% at Rs 65.7 crore vs Rs 80.4 crore

• 13 lakh shares changed hands in a large trade

• 0.01% equity changed hands at Rs 46.8 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

• Revenue down 17.5% at Rs 541.3 crore vs Rs 655.8 crore

• EBITDA down 25.61% at Rs 57.86 crore vs Rs 77.76 crore

• Ebitda margin at 10.7% vs 11.9%

• Net profit down 22.8% at Rs 39.15 crore vs Rs 50.7 crore

• Revenue up 64.45% at Rs 1545.9 crore vs Rs 940 crore

• Ebitda up 63.85% at Rs 472.4 crore vs Rs 288.3 crore

• Margin at 30.55% vs 30.67%

• Net profit down 20.49% at Rs 12.8 crore vs Rs 16.1 crore

• Revenue up 10.3% at Rs 12,380.7 crore vs Rs 11,240.9 crore

• Ebitda up 15.75% at Rs 3,352.24 crore vs Rs 3,006.71 crore

• Margin at 27.07% vs 26.74%

• Net profit up 16.5% at Rs 2,523.7 crore vs Rs 2,166 crore

• Net profit up 18.9% at Rs 4,579.3 crore vs Rs 3,852.7 crore YoY

• NII up 2.6% at Rs 11,101.3 crore vs Rs 10,818.3 crore YoY

• Net NPA at 0.70% vs 0.76% QoQ

• Gross NPA at 3.08% vs 3.32% QoQ

• Revenue down 3.01% at Rs 1,151.4 crore vs Rs 1187.1 crore

• Ebitda up 12.5% at Rs 192.43 crore vs Rs 171.04 crore

• Margin at 16.71% vs 14.4%

• Net profit down 1.1% at Rs 111.98 crore vs Rs 113.23 crore

• Revenue up 5.56% at Rs 1,151.8 crore vs Rs 1,091.1 crore

• Ebitda up 35.16% at Rs 179.78 crore vs Rs 133.01 crore

• Margin at 15.6% vs 12.19%

• Net profit up 46.56% at Rs 107.96 crore vs Rs 73.66 crore

• Revenue up 14.7% at Rs 33,308.7 crore vs Rs 29,044.3 crore

• EBITDA up 37.9% at Rs 3,907.9 crore vs Rs 2,833.1 crore

• Margin at 11.73% vs 9.75%

• Net profit up 33.1% at Rs 3,130 cr vs Rs 2,351.3 crore

• Revenue up 4.57% at Rs 12,828.36 crore vs Rs 12,267.15 crore

• Ebitda up 250.93% at Rs 504.19 cr vs Rs 143.66 cr

• Margin at 3.93% vs 1.17%

• Net profit at Rs 200.89 crore vs loss of Rs 130.73 crore

• 99.9 lakh shares changed hands in 3 large trades

• 3% equity changed hands at price range of Rs 234 to Rs 234.1 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

• Revenue up 7.7% at Rs 391.3 crore vs Rs 363.3 crore

• Ebitda up 12.34% at Rs 90.1 crore vs Rs 80.2 crore

• Margin at 23.02% vs 22.07%

• Net profit up 23.26% at Rs 56.75 crore vs Rs 46.04 crore

• Revenue up 16.92% at Rs 1,334.97 crore vs Rs 1,141.78 crore

• Ebitda up 22.88% at Rs 385.86 crore vs Rs 313.99 crore

• Margin at 28.9% vs 27.5%

• Net profit up 30.08% at Rs 289.3 crore vs Rs 222.4 crore

• Revenue down 0.35% at Rs 1,133.43 crore vs Rs 1,137.4 crore

• Ebitda up 6.64% at Rs 309.74 crore vs Rs 290.44 crore

• Margin at 27.32% vs 25.53%

• Net profit up 10.31% at Rs 228.9 crore vs Rs 207.5 crore

• Revenue up 10.6% at Rs 677.5 crore vs Rs 612.67 crore

• EBITDA up 40.6% at Rs 118.6 cr vs Rs 84.36 crore

• Margin up 374 bps at 17.5% vs 13.76%

• Net profit up 34.9% at Rs 90.92 crore vs Rs 67.39 crore

• Revenue up 7.53% at Rs 4439.5 crore vs Rs 4128.5 crore

• EBITDA up 33.12% at Rs 851.04 crore vs Rs 639.28 crore

• Margin at 19.16% vs 15.48%

• Net profit up 39.21% at Rs 513.68 crore vs Rs 368.99 crore

• 12.3 lakh shares changed hands in a large trade

• 0.01% equity changed hands at Rs 89.1 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

• Net profit at Rs 56.11 crore vs Rs 27.79 crore

• Total income up 55.4% at Rs 171.25 crore vs Rs 110.19 crore

• Board recommends issue of bonus shares in the ratio of 1:1

• 21 lakh shares changed hands in a large trade

• 0.03% equity changed hands at Rs 186 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

• Revenue up 34.5% at Rs 5,223.1 crore vs Rs 3,884.1 crore

• EBITDA up 13.1% at Rs 369.8 crore vs Rs 327 crore

• Margin down 133 bps at 7.08% vs 8.41%

• Net profit up 21.6% at Rs 180.4 crore vs Rs 148.4 crore

• 13.5 lakh shares changed hands in a large trade

• 0.1% equity changed hands at Rs 35.4 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

• Net profit up 30% at Rs 65.02 crore vs Rs 50.01 crore

• Revenue up 19.2% at Rs 339.6 crore vs Rs 284.8 crore

• EBITDA up 27.1% at Rs 90.23 crore vs Rs 70.99 crore

• Margin up164 bps at 26.56% vs 24.92%

• 19.1 lakh shares changed hands in a large trade

• 0.01% equity changed hands at Rs 50.1 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

• 25.8 lakh shares changed hands in a large trade

• 0.02% equity changed hands at Rs 48.2 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

• 59.2 lakh shares changed hands in two large trades

• 0.8% equity changed hands at Rs 435.7 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

The scrip rose as much as 4.38% to 896.50 apiece, to touch a new life high. It recently hit life high on Jan. 30. It pared gains to trade 2.38% higher at Rs 879.30 apiece, as of 11:11 a.m. This compares to a 0.63% advance in the NSE Nifty 50 Index.

It has risen 94.49% in the last 12 months. Total traded volume so far in the day stood at 3.1 times its 30-day average. The relative strength index was at 78 indicating it was overbought.

Out of 34 analysts tracking the company, 28 maintain a 'buy' rating, 2 recommend a 'hold,' and 4 suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 96.1%.

‘Aaradhya OnePark’ project, which offers an innovative community living concept with luxurious residences, has achieved record sales of Rs. 333 crore upon launch.

"This remarkable achievement accounts for nearly 25% of the total estimated sales potential from the project and reaffirms MICL's position as an industry leader in Mumbai's luxury real estate market."

Source: Exchange Filing

The decision to invest Rs 110 crores in Lloyds Realty Developers was made on 6th December 2023 to solidify Lloyds Enterprises strategic position in the real estate sector.

Source: Exchange Filing

• Price target of Rs 335 (earlier Rs 410)

• Q3 results beat estimates on higher realisations, lower costs, partly offset by lower volumes

• Expect around 8% clinker capacity CAGR in the East over the next 3 years

• Expect competitive intensity to remain elevated

• Maintains Reduce with price target of Rs 5,020 (earlier Rs 4,670)

• Remains cautious due to high concentration risk,slowdown in US launches

• Higher R&D, SG&A and inorganic opportunities could impact returns

• Double-digit revenue growth guidance is comforting as its innovative pipeline starts to delive

• Expects around 400bp Q4FY23 to FY25E core margin expansion

• Margin expansion captures the benefit of high-value launches;

  core margin may see pressure from increased investments

• Price target of Rs 4,112

• Earnings growth at 22% missed estimates

• Management confident on beating top-end of order guidance

• Margin guidance revised down by 25-50 bps, leading to earnings estimate cut of 4-6%

• Believe in margin improvement towards end of cycle and sees expansion post FY25

• Lists at a premium of 34.2% to the issue price on NSE

• Lists at Rs 56 on BSE vs issue price of Rs 41

• Lists at a premium of 36.6% to the issue price on BSE

Source: Exchanges

• Asset quality deterioration flagged by multiple users

• CC advances growth strong at 3-11% QoQ, outpacing banking credit growth of 5% QoQ

• Strong spends momentum sustained with 20-79% YoY growth across key CC issuers

• PSBs gaining market share in December new card sourcing (net) at 8.7%, vs 4.9% in C/O

• UPI - credit card integration to aid spends/volumes

• Maintains "Neutral" at Rs 1,950 target

• Bank faces trilemma balancing trade-offs between growth, liquidity and NIMs

• Slowing growth risks hurting franchise and valuations

• Risk-reward stands attractive, but investors need better visibility

Shares of PB Fintech rose as much as 14.37% at Rs 1,039 the highest jump since May 13,2022. It is trading 11.62% higher at 9:54 p.m. This compares to a 0.17% advance in the NSE Nifty 50.

Total traded volume so far in the day stood at 17 times its 30-day average. The relative strength index was at 74, implying the stock is overbought.

Of the 17 analysts tracking the company, 12 maintain a 'buy', two recommends a 'hold,' and three suggests a 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 4.9%

Shares of Larsen & Toubro Ltd declined on Wednesday after the company's Ebitda margin fell 48 bps and missed market estimates.

The scrip fell as much as 5.67% to 3,427 apiece. It pared losses to trade 4.52% lower at Rs 3,469 apiece, as of 9:41 a.m. This compares to a 0.18% advance in the NSE Nifty 50 Index.

It has risen 62.06% in the last 12 months. Total traded volume so far in the day stood at 8.9 times its 30-day average. The relative strength index was at 44.

Out of 35 analysts tracking the company, 31 maintain a 'buy' rating, 2 recommend a 'hold,' and 2 suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 9.6%.

• Rating: Buy; Target Price: Rs 1,930/share

• KPIT on course to beat its FY24 guidance of 37% CC growth

• KPIT delivers in Q3 despite furloughs, which will unwind in Q4

• KPIT’s growth justifies valuation premium of 64.4X PE for FY24

• KPIT also enjoys 37.9X EV/EBITDA multiple

• KPIT to clock CAGR of 20% over FY24-26 in dollar revenue terms

• 11.7 lakh shares or 0.01% equity changed hands in a large trade

• Buyers and sellers not known immediately

Source: Bloomberg

• 43.7 lakh shares or 0.2% equity changed hands in a large trade

• Buyers and sellers not known immediately

Source: Bloomberg

• 32.9 lakh shares or 0.1% equity changed hands in a large trade

• Buyers and sellers not known immediately

Source: Bloomberg

• 1.04 crore shares or 0.1% equity changed hands in a large trade

• Buyers and sellers not known immediately

Source: Bloomberg

The market breadth was skewed in the favour of buyers. Around 2,111 stocks rose, 889 fell, and 91 were unchanged.

At pre-open, the S&P BSE Sensex Index was down 58.60 points, or 0.08%, at 71,081.30 while the NSE Nifty 50 was 34.85 points or 0.16% lower at 21,487.25.

The yield on the 10-year bond opened flat at 7.15%.

Source: Bloomberg

The local currency opened flat at 83.11 against the U.S dollar.

Source: Bloomberg

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• Maintains BUY, reduces price target

• Price Target of Rs 4,135 (earlier Rs 4,200)

• Q3FY24 Ebitda above expectations by 2%

• Raised FY24e order flow guidance to 20%+ YoY growth vs 12% earlier

• International E&C revenues up 88% YoY and likely reason for lower YoY Ebitda margins

• Core working capital is 16.6% of sales vs 19% YoY and 16.7% QoQ

• Maintains "Buy" at Rs 349 target

• Top Pick in Electric Utilities

• Fixed cost under-recovery in FY24 so far to reverse in 4Q

• Thermal capacity and PSP project expansion open an incremental opportunity

• Improving growth profile on:-

1. Renewables growth opportunity

2. Rising need to set coal-based generation capacities

CITI

• Maintains "Buy" at raised target of Rs 655 (previously Rs 560)

• Raise FY24 EBITDA estimate by 18% on robust 3Q & 9M performance

• Expects stock performance catch-up; has ongoing Positive Catalyst Watch on stock

• Range-bound crude price outlook improves OMC margin

• Kochi petchem project, Bina integration to help GRMs

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