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Sensex, Nifty Clock Best Four-Day Rally In Over Two Weeks

 Sensex, Nifty Clock Best Four-Day Rally In Over Two Weeks
Brokers deal on a trading floor at a stock exchange. (Photographer: Prashanth Vishwanathan/Bloomberg)
7 years ago
Catch all the live updates of share prices, index moves, corporate announcements and more from Indian equity markets.

Shares of Suzlon Energy fell for the second day and declined as much as 42.1 percent, the most since Feb. 28, 2013, to Rs 2.75.

The company said that it is regular in servicing its debt obligations including servicing obligations towards banks and others for the month of January, according to its stock exchange filing.

Trading volume was 11 times its 20-day average, Bloomberg data showed. The Relative Strength Index was below 30, indicating that the stock may be oversold.

Shares of the natural gas distributor fluctuated between gains and losses to trade a little changed at Rs 329.40 after it announced its quarterly results for the three months ended December.

Key Earnings Highlights (Q3, QoQ)

  • Revenue up 2.7 percent to 19,788.98 crore.
  • Net profit down 14 percent to Rs 1,681.23 crore.
  • Ebitda down 8.7 pecent to 2,673.48 crore.
  • Margin at 13.5 percent versus 15.18 percent.

Shares of Apollo Tyres fluctuated between gains and losses to trade 1.8 percent higher at Rs 205.40 after announcing its December quarter results.

Key Earnings Highlights (Q3, YoY)

  • Revenue up 16 percent at Rs 4718 crore.
  • Net profit down 19 percent at Rs 198 crore.
  • Ebitda up 6 percent at Rs 528 crore.
  • Margin at 11.2 percent versus 12.2 percent.
  • One-time loss of Rs 60 crore due to IL&FS Provision.

Shares of of the pharmaceutical company falls for the 10th consecutive trading session, its longest losing streak since July 2008.

The stock fell as much as 6.78 percent to Rs 406.70. The Relative Strength Index was below 30, indicating that the stock may be oversold.

Shares of Maruti Suzuki India Ltd. extended gains for the for the sixth day, its best rally since January 2017. The stock rose as much as 1.6 percent to Rs 7,100.

The scrip has risen 8.7 percent in the past five days and fell 1.9 percent in the past 30 days.

Corrects earlier version that misstated Shares rose after results announcement.

CESC (Q3, YoY)

  • Stock fell as much as 1.8 percent to Rs 669.70.
  • Revenue down 0.4 percent at Rs 1707 crore.
  • Net profit up 13.1 percent at Rs 173 crore.
  • Ebitda down 35.7 percent at Rs 202 crore.
  • Margin at 11.8 percent versus 18.3 percent.
  • Regulatory Income at Rs 200 crore versus Rs 69 crore.
  • Other Expense at Rs 197 crore versus Rs 178 crore.
  • Dividend at Rs 17.5 per share.

BHEL (Q3, YoY)

  • Stock fell as much as 11.2 percent to Rs 67.65.
  • Revenue up 10.1 percent at Rs 7,336.42 crore.
  • Net Profit up 25 percent at Rs 191.95 crore.
  • Ebitda down 18% at Rs 218.72 crore.
  • Margin at 3.0 percent versus 4.0 percent.

Tata Global Beverages (Q3, YoY)

  • Stock fell as much as 6.2 percent to Rs 187.55.
  • Revenue up 10.5 percent at Rs 1912.58 crore.
  • Net profit down 41 percent at Rs 99.32 crore.
  • Ebitda down 17 percent at Rs 196.22 crore.
  • Margin at 10.3 percent versus 13.6 percent.

Shares of Symphony Ltd. fell as much as 6.9 percent to Rs 1,130.10 after its quarterly profit in the three months ended December declined 43 percent.

Key Earnings Highlights (Q3, YoY)

  • Revenue up 9.6 percent to Rs 240 crore.
  • Net profit down 43.1 percent to Rs 37 crore.
  • Ebitda down 45.6 percent to Rs 43 crore.
  • Margin at 17.9 percent versus 36.1 percent.
  • Raw Material Cost up 5.4 times to Rs 81 crore.

Punjab National Bank posted a surprise profit in the three months ended December.

Shares of the lender rose 3.6 percent to Rs 75.80 after the results announcement. That compared 0.9 percent advance in the NSE Nifty PSU Bank Index.

Key Earnings Highlights (Q3, YoY)

  • Net Interest Income up 7 percent at Rs 4,290 crore.
  • Net profit up 8 percent at Rs 247 crore.
  • GNPA at 16.33 percent versus 17.16 percent (QoQ).
  • NNPA at 8.22 percent versus 8.90 percent (QoQ).

Nifty’s 11,000 call option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the contract plunged 2.9 percent to Rs 118.85. Over 2.45 lakh shares were added to the open interest which stood at over 36.13 lakh shares.

Nikkei India Services Purchasing Managers' Index stood at 52.2 in January from 53.2, clocked in the preceding month.

Shares of the oil marketing company fell for the second day ahead of its results announcement. The stock fell a much as 1 percent to Rs 224.25.

Here’s what analysts tracked by Bloomberg expects the company to report on a sequential basis in its December quarter earnings:

  • Revenue seen down 1 percent to Rs 66,707 crore.
  • Ebitda seen down 78 percent to Rs 459 crore
  • Margin seen at 0.7 percent versus 3.1 percent.
  • Net loss of Rs 1 crore versus net profit of Rs 1,092 crore.
  • GRM seen at -$0.52 a barrel versus 4.81 per barrel.

Shares of the world’s largest coal miner fluctuated between gains and losses to trade a little changed at Rs 222.20.

The company approved a buyback of 4.46 crore equity shares or 0.72 percent of outstanding equity shares at Rs 235 per share aggregating up to Rs 1,050 crore, according to its stock exchange filing.

The stock traded at 8.5 times its estimated earnings per share for the coming year, Bloomberg data showed.

Why Bharti Airtel Won’t Be Worried About Losing #2 Spot

Indian equity benchmarks fluctuated between gains and losses in the opening trade after rallying in the last three trading sessions.

The S&P BSE Sensex Index rose 0.1 percent to 36,632 as of 9:18 a.m. and the NSE Nifty 50 Index rose 0.1 percent to 10,923.75.

Nine out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Media Index’s 0.5 percent gain. On the flipside, the NSE Nifty Metal Index was the top sectoral loser, down 0.17 percent.

F&O Cues
  • Nifty February futures closed trading at 10,937, premium of 15 points.
  • Max open interest for February series at 11,000 Call, (open interest at 33.7 lakh shares.)
  • Max open interest for February series at 10,700 Put, (open interest at 31.2 lakh shares.)

Stocks In F&O Ban

In Ban:

  • IDBI Bank
  • DHFL

New in Ban:

  • DHFL

Put-Call Ratio

  • Nifty PCR at 1.67 versus 1.63.
  • Nifty Bank PCR at 1.04 versus 0.8.

Morgan Stanley on Future Retail

  • Maintained ‘Overweight’; cut price target to Rs 660 from Rs 745.
  • December quarter results: Another steady quarter for the core business.
  • Cut estimates to reflect lower operating margins.
  • Negatives: longer-than-expected integration of Hypercity acquisition and weak performance of small-format stores in South.
  • Promoter equity infusion to fund buyout of operating assets is step in right direction.

CLSA on Future Lifestyle

  • Maintained ‘Buy’; hiked price target to Rs 560 from Rs 470.
  • Robust same-store sales growth drives earnings beat.
  • Aggressive expansion in brand factory continues.
  • Strong growth visibility and balance sheet on improving trajectory.

CLSA on Aditya Birla Fashion

  • Maintained ‘Buy’; hiked price target to Rs 265 from Rs 240.
  • Robust revenue growth drives beat.
  • Pantaloons same-store sales growth and margin trend encouraging.
  • See multiple growth triggers for Aditya Birla Fashion.

HSBC on JSPL

  • Maintained ‘Buy’; cut price target to Rs 180 from Rs 190.
  • Better than expected realisations result in strong performance from standalone.
  • Delivery on deleveraging is a big positive.
  • Robust volume growth, cheap valuations and deleveraging should help stock rerate.

UBS on SRF

  • Maintained ‘Buy’ with a price target of Rs 2,400.
  • Headline numbers were quite inline, but chemical segment margins disappointed.
  • Specialty chemical failed to perform.
  • Believe market could react negatively.

On Exide

UBS

  • Maintained ‘Buy’ with a price target of Rs 335
  • December quarter earnings preview: In line but below consensus estimate.
  • Miss in net profit sharper due to higher tax & low other income.
  • Expect earnings growth to accelerate as technology investments start paying off.

Nomura

  • Maintained ‘Neutral’; cut price target to Rs 236 from Rs 272.
  • Stable revenue growth, but margins fail to lift.
  • See further risk to margin expansion.
  • Believe Exide will continue to face market share pressure as peer expands capacity.

  • Container Corporation of India record date for bonus of 1:4
  • Odisha Cement price band revised to 20 percent.
  • Zee Media Corp, Prabhat Dairy price band revised to 5 percent.

  • Amber Enterprises: GMO Emerging Domestic Opportunities Fund sold 3.5 lakh shares or 1.1 percent equity at Rs 680.08 each.
  • Voltamp Transformers

    • Promoter Kunjal Investments Private acquired 1.05 lakh shares (1.04 percent) at Rs 1,002.45 each.
    • Nalanda India Fund sold 1.4 lakh shares (1.48 percent) at Rs 1,002.45 each

Other Earnings To Watch
  • ACC
  • Aditya Birla Capital
  • Acrysil
  • Ador Welding
  • Adlabs Entertainment
  • AksharChem India
  • Apollo Pipes
  • Apollo Tyres
  • Arshiya Asahi Songwon Colors
  • Bharat Heavy Electricals
  • Birla Corporation
  • Blue Star
  • Bombay Dyeing & Mfg Company
  • Brigade Enterprises
  • Century Plyboards
  • CESC
  • Dish TV
  • DLF
  • Fairchem Speciality
  • Future Enterprises
  • IDFC First Bank
  • INOX Leisure
  • JBF Industries
  • LT Foods
  • Mangalore Refinery & Petrochemicals
  • Marico
  • Prataap Snacks
  • Praxis Home Retail
  • Punjab National Bank
  • Reliance Infrastructure
  • RPG Life Sciences
  • Singer India
  • Sobha
  • Suven Life Sciences
  • Symphony
  • Tata Chemicals
  • Tata Global Beverages
  • Timken India
  • Torrent Power
  • Trent
  • Trigyn Technologies
  • Tube Investments of India
  • United Bank of India
  • Usha Martin
  • V-Mart Retail
  • Zenlabs Ethica
  • Deccan Gold Mines
  • Emami Paper Mills
  • HCL Infosystems
  • Hitech Corporation
  • Jai Corp
  • Oswal Greentech
  • Saint-Gobain Sekurit
  • Snowman Logistics

Earnings Reaction To Watch

Godrej Agrovet (Q3, YoY)

  • Revenue up 19.1 percent at Rs 1,454.1 crore.
  • Net profit down 17.5 percent at Rs 40.9 crore.
  • Ebitda up 4.1 percent at Rs 101 crore.
  • Margin at 6.9 percent versus 7.9 percent.
  • Exceptional profit of Rs 12 crore.

SRF (Q3, YoY)

  • Revenue up 40.6 percent at Rs 1,964 crore.
  • Net profit up 26.3 percent at Rs 165.7 crore.
  • Ebitda up 42.9 percent at Rs 331 crore.
  • Margin at 16.9 percent versus 16.6 percent.
  • Other income of Rs 21 crore.
  • Declares dividend of Rs 6 per share.

Future Retail (Q3, YoY)

  • Revenue up 12.9 percent at Rs 5,301.1 crore.
  • Net profit up 10 percent at Rs 201.4 crore.
  • Ebitda up 29.3 percent at Rs 277.8 crore.
  • Margin at 5.2 percent versus 4.6 percent.

Balrampur Chini Mills (Q3, YoY)

  • Revenue down 6 percent at Rs 941 crore.
  • Net profit up 97 percent at Rs 120 crore.
  • Ebitda up 46 percent at Rs 159.5 crore.
  • Margin at 17 percent versus 10.9 percent.

Novartis (Q3, YoY)

  • Revenue down 13.1 percent at Rs 135.6 crore.
  • Net profit down 31 percent at Rs 12.9 crore.
  • Ebitda up 5.9 percent at Rs 12.6 crore.
  • Margin at 9.3 percent versus 7.6 percent.
  • Provision made for reversal of stock for Rs 9 crore.

NRB Bearing (Q3, YoY)

  • Revenue up 17 percent at Rs 242.6 crore.
  • Net profit up 25.8 percent at Rs 26.8 crore.
  • Ebitda up 5.3 percent at Rs 42 crore.
  • Margin at 17.3 percent versus 19.2 percent.
  • Reversal of stock at Rs 19 crore versus Rs 7.7 crore.

Jubilant Found Guilty Of Not Passing GST Benefit On Sale Of Domino’s Pizza

  • 10:30 a.m.: Nikkei India Services PMI for January, prior 53.2.
  • 10:30 a.m.: Nikkei India Composite PMI for January, prior 53.6.
  • Asian markets closed Tuesday: China, Hong Kong, Indonesia, Korea, Malaysia, Philippines, Singapore, Taiwan, Pakistan
  • Trump delivers a delayed State of the Union address Tuesday
  • On Wednesday, Federal Reserve Chairman Jerome Powell gives his first public comments following the January FOMC meeting and rate decision.
  • Central banks in Australia, India and the U.K. set rates this week

  • Aluminium resumed rally after a one-day blip, ended 1.9 percent higher.
  • Nickel ended higher for the fifth day, up 4.7 percent.
  • Tin halted a four-day rally, ended 0.43 percent lower.
  • Zinc ended higher for the fourth day, up 0.86 percent.
  • Lead ended higher for the fourth day, up 0.05 percent.
  • Copper resumed rally after a one-day blip, ended 1.4 percent higher.

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