Asian stocks declined Thursday following a retreat in U.S. equities.
Shares were volatile in Japan and fell in South Korean and Australia. U.S. contracts wavered after the S&P 500 swung between gains and losses before closing down 1%. An ongoing shift away from technology shares left the Nasdaq Composite in correction territory, more than 10% off a November high.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, fell 0.44% to 17,898 as of 7:20 a.m.
Elsewhere, crude oil fell and bitcoin hovered around $41,700.
Post Market Hour Earnings
ICICI Lombard General Insurance- Q3FY2022 -Consolidated (QoQ)
Revenue up 1% at Rs 3,854 crore Vs 3,808 crore
Net profit down 29% to Rs 318 crore Vs Rs 447 crore (Bloomberg estimate : Rs 403 crore profit)
Ebitda at Rs 273 crore Vs Rs 457 crore, down 40%
Margin at 7.1% vs 12%
EPS at Rs 6.47 vs Rs 9.11 (Bloomberg estimate : 3.69)
Bajaj Auto - Q3FY2022 - Consolidated (QoQ)
Revenues up 3% at Rs 9,021 crore vs Rs 8762 crore (Bloomberg estimate estimate - Rs 9,027 crore)
Net profit falls 5% at Rs 1,214 crore vs Rs 1,275 crore (Bloomberg estimate estimate : Rs 1621 crore)
Ebitda down 2% at Rs1372 crore vs Rs 1,401 crore (Bloomberg estimate estimate: Rs 1,365 crore)
EBITDA margins at 15.1% vs 16%
L&T Infotech – Q3FY2022 – Consolidated (QoQ)
Revenue up 10% at Rs 4,137.6 crore Vs 3,767 crore
$ Revenue up 8.7% at $427.8 million
Net profit up 11% to Rs 612 crore Vs Rs 551.5 crore
Ebitda at Rs 742.6 Vs 648.2 crore, up 15%
Margins at 17.9% Vs 17.2%
EPS at Rs 34.95 Vs Rs 31.5
The company has approved a scheme of amalgamation for merger of its three wholly-owned subsidiary companies namely, PowerUpCloud Technologies, Lym bye Solutions and Cuelogic Technologies with itself.
Tata Communications – Q3FY2022 – Consolidated (QoQ)
Revenue up 2% at Rs 1,657.7 crore Vs 1,628.17 crore
Net profit down 10% to Rs 225.51 crore Vs Rs 251.57 crore
Ebitda at Rs 275.77 crore Vs 302.78 crore, down 9%
Margins at 16.6% Vs 18.6%
EPS at Rs 7.91 Vs Rs 8.83
Rallis India Q3FY22 (Consolidated, YoY)
Revenue up 10% at Rs 628.08 crore Vs Rs 570.47 crore
Net profit down 13% at Rs 39.56 crore Vs Rs 45.64 crore
Ebitda up 12% at Rs 67.40 crore Vs Rs 60.12 crore
Margin at 10.7% Vs 10.5%
CEAT Q3FY22 (Consolidated, YoY)
Revenue up 9% at Rs 2,413.27 crore Vs Rs 2,221.25 crore
Net loss at Rs 20.01 crore Vs Net profit of Rs 132.14 crore
Ebitda down 59% at Rs 134.12 crore Vs Rs 327.66 crore
Margin at 5.6% Vs 14.8%
Syngene International Q3FY22 (Consolidated, YoY)
Revenue up 10% at Rs 641.40 crore Vs Rs 584.50 crore
Net profit up 2% at Rs 104 crore Vs Rs 102.20 crore
Ebitda up 10% at Rs 183.5 crore Vs Rs 167.3 crore
Margin at 28.6%
Oracle Financial Services Software Q1FY22 (Consolidated, QoQ)
Revenue down 1% at Rs 1,266.33 crore Vs Rs 1,280.97 crore
Net profit down 3% at Rs 435.34 crore Vs Rs 447.55 crore
EBIT down 7% at Rs 561.03 crore Vs Rs 604.85 crore
Margin at 44.3% Vs 47.2%
Stocks To Watch
Power Finance: The company has transferred its wholly owned subsidiaries Karur Transmission and Khavda-Bhuj Transmission to Adani Transmission.
IFCI: To consider preferential share issue to government on Jan. 25.
TVS Motor: The company globally announced the launch of its motorcycle TVS Star HLX 150 Disc Variant in Egypt.
HCL Technologies: Appointed Prabhakar Appana as Senior Vice President and the Global Head of its AWS Ecosystem Business unit.
TCI Express: The company will consider declaration of second interim dividend on Jan. 28.
Kirloskar Ferrous: The company will consider declaration of interim dividend on Jan. 24.
CCI Products: Declared interim dividend of Rs 3 per share of nominal value of Rs 2.
Earnings: Hindustan Unilever, Asian Paints, Bajaj Finserv, Bajaj Holdings & Investment, Havells India, Biocon, Mphasis, Persistent Systems, PNB Housing Finance, Hatsun Agro Product, Container Corporation Of India, Cyient, Reliance Industrial Infrastructure, Century Textiles & Industries, Datamatics Global Services, Agro Tech Foods, Bank of Maharashtra, Orient Electric, Dodla Dairy, Khaitan Chemicals & Fertilizers, PCBL, Sasken Technologies, Shoppers Stop, South Indian Bank, VST Industries
Bulk Deals
Vedanta: Citi Bank sold 38.28 lakh (1.02%) shares at Rs 314.65 apiece.
HSIL: Okoworld Growing Markets 2.0 bought 4.21 lakh (0.65%) shares at Rs 300.64 apiece.
Pricol: Aditya Birla Sun Life Mutual Fund Pure Value Fund bought 10 lakh (1.05%) shares at Rs 126.5 apiece. Vramath Financial Services sold 10 lakh (1.05%) shares at Rs 127.89 apiece.
Pledged Shares Details
Cholamandalam Financial Holdings: Promoter Group Lakshmi Ramaswamy Family Trust created a pledge of 1.25 lakh shares on Nov. 29, 2021.
Aurobindo Pharma: Promoter Group Axis Clinicals, Trident Chemphar, and RPR Sons Advisors revoked a pledge of 31.06 lakh shares on Jan. 18.
Who's Meeting Whom
Kotak Mahindra: To meet investors and analysts on Jan. 28.
Kajaria: To meet investors and analysts on Jan. 21.
Shemaroo Entertainment: To meet investors and analysts on Jan. 25.
Infibeam Avenues: To meet investors on Jan. 31.
Dabur: To meet investors and analysts on Feb. 3.
Sanghi Cement: To meet Invesco Mutual Fund on Jan. 20.
Gokaldas Exports: To meet investors and analysts on Jan. 24.
Equitas: To meet investors and analysts on Jan. 31.
Trading Tweaks
Move Out Of Short-Term ASM Framework: Minda Industries, Filatex India, Poonawalla Fincorp, Greaves Cotton, Indo Rama Synthetics (India), India Nippon Electricals, Kitex Garments
Record Date Interim Dividend: Tata Consultancy Services
Ex-Date Interim Dividend: HCL Technologies, Railtel Corporation of India
Ex-Date Dividend: Siemens
Ex-Date Right Issue: Wardwizard Innovations & Mobility
Money Market Update
The rupee ended at Rs 74.43 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 74.58.
F&O Cues
Nifty January futures ended at 17,975.50; a premium of 37.1 points.
Nifty January futures shed 5.31% and 10,345 shares in Open Interest.
Nifty Bank January futures ended at 38,176.35; a premium of 135 points.
Nifty Bank January futures shed 12.2% and 10,978 shares in Open Interest.
Securities in the ban list: BHEL, Escorts, Indiabulls Housing Finance, SAIL, Vodafone Idea, Granules
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