Stocks fell Thursday on growing geopolitical tension after the Kremlin said separatists in eastern Ukraine asked President Vladimir Putin for help, a step that could lead to Russian troop deployments.
Equities declined in Japan, South Korea and Australia. US futures retreated following a technology slide that pushed the S&P 500 further into a correction. Treasuries, the dollar, gold all gained. Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, fell 1.64% to 16,815 as of 7:15 am.
Oil pushed higher as traders while bitcoin slipped below $37,000.
Earnings Post Market Hours
Sanofi India Q3FY22 (YoY)
Revenue down 4% at Rs 687.9 crore Vs Rs 720.3 crore
Net profit down 27% at Rs 90.4 crore Vs Rs 123 crore
Ebitda down 24% at Rs 127.20 crore Vs Rs 167 crore
Margin 18.5% Vs 23.2%
Declared dividend of Rs 490 per share on the back of divestments and strong domestic growth.
Stocks To Watch
Vodafone Idea: Vodafone Group Plc is in talks to sell around a 5% stake in Indus Towers Ltd. to Bharti Airtel Ltd., PTI reported. The deal is expected to be valued at more than Rs 3,300 crore, and the proceeds will be pumped into the Indian entity Vodafone Idea Ltd.
Info Edge (India): The company has received NCLT approval for amalgamation of wholly owned subsidiary High Orbit Careers.
Power Grid: The company will transfer 26% residual equity shareholding in Power Grid Vizag Transmission and relinquish its right on additional revenue accruing to PowerGrid Parli Transmission Power Grid Warora Transmission and PowerGrid Jabalpur Transmission under change in law to PGInvIT against upfront consideration.
Vedanta: The Anil Agarwal-led miner will consider declaration of third interim dividend on March 2.
SKF: CFO Anurag Bhagania has resigned.
Federal-Mogul Goetze: Tenneco Inc, company's holding company, has entered a merger agreement with Pegasus Merger, a wholly owned subsidiary of Pegasus Holdings.
Offering
Bikaji Foods International has sought SEBI's approval for an initial public offering. It will sell about 2.93 crore shares in the IPO, a pure offer for sale, according to its draft red herring prospectus. Founders Shiv Ratan Agarwal and Deepak Agarwal will pare 25 lakh shares each.
Pledged Shares Details
Ajanta Pharma: Promoter Ravi Agrawal, Trustee Ravi Agrawal Trust revoked a pledge of 2.74 lakh shares on Feb. 22.
Insider Trades
Chambal Fertilisers & Chemicals: Promoter SIL Investments bought 75,000 shares on Feb. 22.
Mahindra & Mahindra: Promoter Group Yuthica Keshub Mahindra sold 12,000 shares on Feb. 22.
Mastek: Promoter & Director Ashank Desai bought 2,000 shares on Feb. 18.
Gujarat Ambuja Exports: Promoter Group Jupiter Corporate Services bought 20,000 shares on Feb. 22.
KRBL: Promoter Groups Anil Mittal Family Trust, its trustee Anil Kumar Mittal, Arun Kumar Gupta Family Trust, its trustee Arun Kumar Gupta and Binita Gupta Family Trust, trustee Anoop Kumar Gupta bought 17,500 shares each on Feb. 22.
Vaibhav Global: Promoter Group Brett Enterprises bought 3,000 shares on Feb. 22.
Ramkrishna Forgings: Promoter Riddhi Portfolio bought 11,000 shares on Feb. 22.
Alkem Laboratories: Promoter Dhananjay and Madhurima Singh Trust bought 2,000 shares between Feb. 21 and Feb. 22.
Star Cement: Promoter & Director Sajjan Bhajanka bought 98,020 shares on Feb. 22.
Bulk Deals
Butterfly Gandhimathi Appliances: Rajasthan Global Securities bought 1.63 lakh (0.91%) shares at Rs 1395.52 apiece.
Who's Meeting Whom
HEG: To meet investors and analysts on Feb. 25.
Kesoram: To meet investors and analysts on Feb. 25.
Sanofi: To meet investors and analysts on Mar. 2.
Trading Tweaks
Price Band Revised From 10% To 5%: Jaiprakash Power Ventures
Price Band Revised From 20% To 10%: Dhani Services, GE Power
Move Into Short-Term ASM Framework: Dhani Services
Record Date Interim Dividend: JB Chemicals & Pharmaceuticals, Bharat Dynamics, Hikal, Ashiana Housing
Ex-Date Interim Dividend: Polyplex Corporation, Mrs. Bectors Food Specialities, Nureca, MOIL, Manappuram Finance, Natco Pharma, Mishtann Foods
Money Market Update
The rupee ended at 74.56 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 74.87.
F&O Cues
Nifty February futures shed 26.74% and 41,545 shares in Open Interest.
Nifty Bank February futures ended at 37,418, a premium of 25.95 points.
Nifty Bank February futures shed 17.93% and 8,601 shares in Open Interest.
Securities in the ban list: Indiabulls Housing Finance, Punjab National Bank
Securities removed from the ban list: Escorts
Securities added to the ban list: Vodafone Idea
Research Reports
Bharat Electronics - Future Looks Promising: Anand Rathi Initiates Coverage
Textiles Sector Check - Strong Demand Offset By Higher Raw Material Cost: Motilal Oswal
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
