Sensex, Nifty Rebound From Two-Week Low As Infosys, L&T Lead

AU Small Finance Bank

• Stock rose as much as 13.6 percent, the most since July 10, 2017, to hit an all-time high at Rs 1,008, after announcing December quarter results.

Key Earnings Highlights (Q3, YoY)

• Net interest income up 46 percent to Rs 506.83 crore.
• Net profit up 99.5 percent to Rs 190.19 crore.
• Provisions down 34.3 percent to Rs 401.06 crore. (QoQ)
• Gross NPA at 1.88 percent versus 2.01 percent. (QoQ)
• Net NPA at 1.01 percent versus 1.14 percent. (QoQ)

GE T&D

• Stock rose much as 8.6 percent to Rs 165.95.
• Wins order worth Rs 173 crores J&K Power Development Department
• Order included five-year maintenance services and supply of solutions in the overall distribution network in cities of Jammu and Srinagar.

Dishman Carbogen Amcis

• Stock hit an upper crcuit of 5 percent at Rs 83.80.

Key Earnings Highlights (Q3, YoY)

• Revenue up 13.2 percent to Rs 542.3 crore.
• CRAM segment revenue up 20 percent to Rs 402.4 crore.
• Net profit down 20.5 percent to Rs 32.9 crore.
• Ebitda down 4.9 percent to Rs 126.2 crore.
• Margin at 23.3 percent versus 27.7 percent.

Indraprastha Gas

• Stock rose as much as 4.9 percent to Rs 4.9 percent to Rs 495.
• Fresh longs seen with high open interest of 14 percent.
• Trading volume was three times its 20-day average.

NHPC

• Stock rose as much as 9.9 percent to Rs 28.75.
• Trading volume was almost five times its 20-day average.

Star Cement

• Stock rose as much as 2.7 percent to Rs 91.70.
• Trading volume was more than 15 times its 20-day average.

Atul

• Stock rose as much as 1.8 percent to Rs 4,399.85
• Trading volume was almost 11 times its 20-day average.

Tata Investment Corp

• Stock rose as much as 10.2 percent to Rs 913.85.
• Trading volume was almost 10 times its 20-day average.

Shares of PVR fluctuated between gains and losses to trade 0.5 percent higher at Rs 1,927 after its profit in the three months ended December missed estimates.

Key Earnings Highlights (Q3, YoY)

• Revenue up 8.6 percent to Rs 915.7 crore.
• Net profit down 34.4 percent to Rs 36.3 crore.
• Ebitda up 87 percent to Rs 307.3 crore.
• Margin at 33.6 percent versus 19.5 percent.
• Other income at Rs 8.2 crore versus Rs 14.3 crore.

Shares of Westlife Development rose as much as 12.1 percent, the most since Nov. 6, 2019, to hit an all-time high at Rs 432.90, after the company announced its third-quarter results.

Key Earnings Highlights (Q3, YoY)

• Revenue up 16.7 percent to Rs 432.9 crore.
• Net profit up 2.1 times to Rs 14.4 crore.
• Ebitda up 2.1 times to Rs 70.9 crore.
• Margin at 16.4 percent versus 9 percent.
• Same-store sales growth at 9.2 percent versus 14.5 percent.

Shares of Oil India halted a three-day losing streak. The stock rose nearly 4 percent intraday to Rs 142.95.

Oil Minister Dharmendra Pradhan said that the telecom demand is a ‘miscommunication’ and that he is in talks with Department of Telecom, according to Bloomberg report.

The oil explorer had moved Supreme Court on AGR verdict. The company had received a demand for Rs 48,000 crore for telecom adjusted gross revenue dues and had taken the matter with Telecom and Oil Ministries.

Shares of Oriental Bank of Commerce rose as much as 3.2 percent to Rs 56.15 after announcing December quarter results.

Key Earnings Highlights (Q3, YoY)

• Net interest income down 7 percent to Rs 1,322.1 crore
• Net profit up 39.1 percent to Rs 201.66 crore.
• Provisions down 0.8 percent to Rs 956.63 crore. (QoQ)
• Gross NPA at 12.64 percent versus 12.53 percent. (QoQ)
• Net NPA at 5.98 percent versus 5.94 percent. (QoQ)

Shares of Apollo Hospitals Enterprise extended gains for the second consecutive trading session. The stock rose as much as 2.5 percent to hit an all-time high at Rs 1,675.

The Relative Strength Index was at 80, indicating that the stock may be overbought, Bloomberg data showed. The scrip returned 5 percent in the past five days and rose 21 percent in the past 30 days, Bloomberg data showed.

Shares of Canara Bank rose as much as 3.6 percent to Rs 226.75 after the company announced December quarter results.

Key Earnings Highlights (Q3, YoY)

• Net interest income down 10 percent to Rs 3,435 crore.
• Net profit up 3.8 percent to Rs 329.62
• Provisions down 11.5 percent to Rs 1,802.91 crore. (QoQ)
• Gross NPA at 8.36 percent versus 8.68 percent. (QoQ)
• Net NPA at 5.05 percent versus 5.15 percent. (QoQ)

Shares of Varun Beverages extended gains for the twelfth consecutive trading session, their longest gaining streak since listing on Nov. 7, 2016. The stock rose as much as 7.4 percent to hit an all-time high at Rs 853.

The Relative Strength Index was at 85, indicating that the stock may be overbought, Bloomberg data showed. The scrip returned 17.7 percent so far this year and advanced 61 percent in the past 12 months.

Varun Beverages traded at 43.9 percent estimated forward earnings per share compared to a 40.4 times for the two-year historical average.

Shares of UltraTech Cement rose 0.47 percent to Rs 4,498. The stock had risen as much as 0.8 percent earlier.

The company commissioned Phase 1 of the cement grinding unit at Bara in Uttar Pradesh, with a capacity of 2 mtpa, India’s largest cement maker said in an exchange filing.

The scrip traded at 33 times its estimated earnings per share for the coming year, Bloomberg data.

Reliance Communications’ counsel says:

• The prescribed period of 270 days for completion of CIRP is expiring on Feb. 3.
• CoC comprises Chinese lenders who may not vote during the Chinese new year period; any abstention by them can derail the recovery process.
• Though IBC prohibits it from granting an extension more than once, the CIRP will be covered within the amended period of 330 days, says NCLT
• Order to that effect will be passed; matter to be heard on Jan. 24

Source: NCLT Proceedings

Shares of AU Small Finance rose as much as 13.6 percent, the most since July 10, 2017, to hit an all-time high at Rs 1,008.

The came after the company announced December quarter results.

Key Earnings Highlights (Q3, YoY)

• Net interest income up 46 percent to Rs 506.83 crore.
• Net profit up 99.5 percent to Rs 190.19 crore.
• Provisions down 34.3 percent to Rs 401.06 crore. (QoQ)
• Gross NPA at 1.88 percent versus 2.01 percent. (QoQ)
• Net NPA at 1.01 percent versus 1.14 percent. (QoQ)

China’s Stocks Plunge in Worst Pre-New Year Loss on Record

Nifty’s 12,200 call option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the contract, which is set to expire on Jan. 23, fell 77 percent to Rs 2.45. About 19.65 lakh shares were added to the open interest which stood at over 48.5 lakh shares.

Raymond (Q3, YoY)

• Stock rose as much as 4.7 percent to Rs 705.
• Revenue rose 12.5 percent to Rs 1,885.4 crore.
• Net profit rose 5.2 times to Rs 195.3 crore.
• Net profit (ex-Thane Land Sale) fell 4 percent to Rs 36 crore.
• Ebitda rose 33.4 percent to Rs 206.2 crore.
• Margin stood at 10.9 percent versus 9.2 percent.

RBL Bank (Q3, YoY)

• Stock fell as much as 4.2 percent to Rs 325.05.
• Net interest income rose 41 percent to Rs 923 crore. (Estimate: Rs 902 crore)
• Net profit fell 69 percent to Rs 69.9 crore. (Estimate: Rs 86.4 crore)
• Provisions at Rs 638.29 crore. (Rs 533 crore QoQ)
• GNPA at 3.33 percent versus 2.60 percent.
• NNPA at 2.07 percent versus 1.56 percent.

CEAT (Q3, YoY)

• Stock rose as much as 2.9 percent to Rs 1,029.
• Revenue rose 1.8 percent to Rs 1,761.8 crore.
• Net profit was flat at Rs 52.8 crore.
• Ebitda rose 28.5 percent at Rs 183.2 crore.
• Margin stood at 10.4 percent versus 8.2 percent.

CreditAccess Grameen (Q3, YoY)

• Stock fell as much as 4.1 percent to Rs 765.
• Net interest income rose 35.1 percent to Rs 266.3 crore.
• Net profit rose 8.3 percent to Rs 108 crore.
• Disbursements rose 69 percent to Rs 2977 crore.
• GNPA at 0.85 percent versus 0.52 percent (QoQ).
• Gross Loan Portfolio rose 46 percent to Rs 8,872 crore.

Ujjivan Small Finance Bank (Q3, YoY)

• Stock rose as much as 3.8 percent to Rs 53.30
• Net interest income rose 52.1 percent to Rs 426.5 crore.
• Net profit rose 98 percent to Rs 89.7 crore.
• Provisions were at Rs 30.5 crore versus Rs 7 crore. (Rs 24.8cr QoQ)
• GNPA at 0.95 percent versus 0.85 percent (QoQ).
• NNPA at 0.38 percent versus 0.33 percent (QoQ).

Syngene International (Q3, YoY)

• Stock fell as much as 1.4 percent to Rs 305.65.
• Revenue rose 11.1 percent to Rs 519.1 crore.
• Net profit rose 5.5 percent to Rs 91.8 crore.
• Ebitda rose 2.4 percent to Rs 143.5 crore.
• Margin stood at 27.6 percent versus 30 percent.

Shares of Balkrishna Industries extended gains for the second consecutive trading session. The stock rose as much as 2.4 percent to Rs 1,124.85, the highest since Nov. 18, 2018.

The Relative Strength Index was 77, indicating that the stock may be overbought, Bloomberg data showed. The stock returned 11.2 percent so far this year and 28.7 percent in the past 12 months.

Shares of ITI resumed declines after a one-day breather. The stock fell as much a 7.6 percent, the most in five months, to Rs 92.15.

The state-run company on Wednesday fixed a price band of Rs 72-77 a share for its follow-on public offer, which will hit the capital markets on Friday, according to a PTI report.

“The FPO comprises fresh issue of up to 18 crore equity shares. Besides, an additional issue constituting up to 18 lakh shares will be reserved for employees. The issue will open on Jan. 24 and close on Jan. 28,” the report added.

Shares of Vodafone Idea resumed rally after declining yesterday. The stock rose as much as 5.4 percent to Rs 5.90.

The company has sought an exception from the government to miss Jan. 23 deadline for dues.

The stock declined 72 percent in the past 12 months compared to a 13 percent advance in the Sensex, Bloomberg data showed.

• Aster DM Healthcare ex-date for share-buyback.
• Arihant Superstructures, Windsor Machines, GTN Industries to move into ASM Framework.
• Greenpanel Industries, Prakash Steelage, Williamson Magor to move into short term ASM Framework.
• Bharat Road Network, N R Agarwal Industries, Patel Engineering to move out of short term ASM Framework.
• Spencers Retail price band revised to 10 percent.
• Manugraph, BSL price band revised to 5 percent.

The Indian rupee opened marginally lower against the U.S. dollar. The home currency depreciated as much as 0.03 percent to 71.22 against the greenback.

Raymond (Q3, YoY)

• Revenue rose 12.5 percent to Rs 1,885.4 crore.
• Net profit rose 5.2 times to Rs 195.3 crore.
• Net profit (ex-Thane Land Sale) fell 4 percent to Rs 36 crore.
• EBITDA rose 33.4 percent to Rs 206.2 crore.
• Margin stood at 10.9 percent versus 9.2 percent.

RBL Bank (Q3, YoY)

• Net Interest Income rose 41 percent to Rs 923 crore. (Estimate: Rs 902 crore)
• Net profit fell 69 percent to Rs 69.9 crore. (Estimate: Rs 86.4 crore)
• Provisions at Rs 638.29 crore. (Rs 533 crore QoQ)
• GNPA at 3.33 percent versus 2.60 percent.
• NNPA at 2.07 percent versus 1.56 percent.

CEAT (Q3, YoY)

• Revenue rose 1.8 percent to Rs 1,761.8 crore.
• Net profit was flat at Rs 52.8 crore.
• EBITDA rose 28.5 percent at Rs 183.2 crore.
• Margin stood at 10.4 percent versus 8.2 percent.

CreditAccess Grameen (Q3, YoY)

• Net Interest Income rose 35.1 percent to Rs 266.3 crore.
• Net profit rose 8.3 percent to Rs 108 crore.
• Disbursements rose 69 percent to Rs 2977 crore.
• GNPA at 0.85 percent versus 0.52 percent (QoQ).
• Gross Loan Portfolio rose 46 percent to Rs 8,872 crore.

Ujjivan Small Finance Bank (Q3, YoY)

• Net Interest Income rose 52.1 percent to Rs 426.5 crore.
• Net profit rose 98 percent to Rs 89.7 crore.
• Provisions were at Rs 30.5 crore versus Rs 7 crore. (Rs 24.8cr QoQ)
• GNPA at 0.95 percent versus 0.85 percent (QoQ).
• NNPA at 0.38 percent versus 0.33 percent (QoQ).

Syngene International (Q3, YoY)

• Revenue rose 11.1 percent to Rs 519.1 crore.
• Net profit rose 5.5 percent to Rs 91.8 crore.
• EBITDA rose 2.4 percent to Rs 143.5 crore.
• Margin stood at 27.6 percent versus 30 percent.

• Adani Group Stocks: Adani Group plans to expand its renewable power capacity to 18 gigawatts by 2025 from over 2.5 GW now, Chairman Gautam Adani said. The group is developing the Carmichael coal project in Australia, will add 2.9 GW of renewable power capacity in 2020 and plans to expand its 1.3 GW solar cell and module manufacturing facility in Mundra in India to 3.5 GW.
• Piramal Enterprises: Rights Issue was oversubscribed 1.14 times. Rights Issue closed on Jan. 21
• Oil India moves Supreme court on AGR verdict. The company had received a demand for Rs 48,000 crore Telecom adjusted gross revenue dues and has taken the matter with Telecom and Oil Ministries.
• Tata Motors: Jaguar Land Rover cut 500 jobs or about 10 percent of the workforce at its Halewood Plant in England.
• Asian Paints: Board approved the merger of its wholly-owned arm Reno Chemicals Pharma & Cosmetics with the company.
• Vodafone Idea, Tata Telecommunications seek an exception from Government to miss Jan. 23 deadline for dues.
• Cabinet approved the closure of Hindustan Fluorocarbons.
• UPL confirmed the news of the income tax departments searching their office premises and the company said that it is committed to fully cooperate with authorities in the ongoing research.
• IL&FS Transportation Networks unit entered into an agreement with MoRTH and project lenders for foreclosure of Beawar-Gomti Road Concession Agreement. The afore-said unit will receive Rs 144.08 crore from MoRTH after handing the toll operations.
• Syngene International: Current whole-time director and Chief Executive Officer Jonathan Hunt to assume the role of CEO and managing director, while Kiran Mazumdar Shaw to become non-executive chairperson with effect from April 1.
• CreditAccess Grameen: revised its exchange ratio to 157 shares of the company for every 100 shares of Madura Micro Finance. The company will acquire 54.92 lakh shares (76.34 percent) in Madura Micro Finance at Rs 1,208 per share, aggregating to Rs 869 crore.
• Indian Oil Corporation will boost use of Ennore LNG Terminal from Mid-2021, according to Bloomberg report.
• Future Retail raised $500 million by allotment of senior secured notes.
• MRF partially commissioned Phase 1 of its greenfield unit in Gujarat.
• ITI: Board approved price band of Rs 72-77 for further public issue of rose to 18.18 crore shares. The floor price is at a discount of 28 percent to yesterday’s closing price. Minimum bid lot was at 150 shares.
• Datamatics Global Services said that deal to sell stake in its arm Cignex Datamatics to Singapore based Relevance Lab has not been completed as shareholders did not approve the proposed resolution. Both parties are reworking on the revised structure for the agreement.
• Jindal Drilling & Industries said that its rig has commenced operation from Jan. 21 under the contract awarded by Oil & Natural Gas Corporation.
• Karnataka Bank to consider various options for capital augmentation on Jan. 27.
• Ashiana Housing said that it has obtained Real Estate (Regulation and Development) Act registration for its project in Jaipur. Project is set to be launched for booking from March 12.

• The S&P 500 Index ended the day up less than 0.1 percent, lifted by gains in technology shares and positive earnings reports but was held back by the concern of China's outbreak.
• Oil declined to a seven-week low on concerns that a deadly virus that’s spreading from China will crimp energy demand in a market already awash with supplies.

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