Nifty Registers Worst F&O Series In Five Months

Shares of Indian Oil Corporation fell as much as 1.7 percent to Rs 116.20 after the company announced its quarterly results for the three months ended December.

Key Earnings Highlights (Q3, QoQ)

• Net profit up 315.15 percent to Rs 2,339 crore. (Estimate: Rs 2,488 crore)
• Revenue up 11.6 percent to 1,24,615 crore. (Estimate: Rs 1,24,459 crore)
• Ebitda up 86.2 percent to Rs 6,650 crore. (Estimate: Rs 6,468 crore)
• Margin at 5.34 percent versus 3.20 percent. (Estimate: 5.2 percent)
• April-December GRM at $3.43 a barrel versus $5.83 per barrel, according to Bloomberg report. (Estimate: $3.6 per barrel)

Solar Industries

• Stock rose as much as 2.1 percent to Rs 1,300.
• Trading volume was more than 18 times its 20-day average.

Tata Investment Corp

• Stock rose 7.7 percent to Rs 944.
• Trading volume was more than 10 times its 20-day average.

Chalet Hotels

• Stock fell as much as 3.6 percent to Rs 320.
• Trading volume was almost 11 times its 20-day average.

IDFC

• Stock fell as much as 9.1 percent to Rs 33.55.
• Trading volume was more than five times its 20-day average.

Vaibhav Global

• Stock rose as much as 10.6 percent to Rs 1,100.
• Revenue up 10.3 percent to Rs 563.3 crore.
• Net profit up 25 percent to Rs 65.6 crore.
• Ebitda up 20.3 percent to Rs 88.4 crore.
• Margin at 15.7 percent versus 14.4 percent.
• Margin expanded by 130 basis points due lower manufacturing expenses.
• Strong Growth seen in U.K. and U.S. markets.

Strides Pharma

• Stock rose as much as 8.5 percent to Rs 484.90.
• Net profit up 3.6 times to Rs 101.7 crore.
• Revenue up 28 percent to Rs 735.3 crore.
• Ebitda up 1.85 times to Rs 185.1 crore.
• Margin at 25.2 percent versus 11.3 percent.

Escorts

• Stock rose as much as 8.5 percent to Rs 811.50.
• Fresh longs seen with high open interests of 61 percent.
• Trading volume was eight times its 20-day average.

CCL Products

• Stock rose as much as 8.1 percent to Rs 224.80.
• Shares advanced 14 percent in the last three sessions.
• Norges Bank acquired 20.3 lakh shares or 1.53 percent equity at Rs 199 per share.
• Smallcap World Fund sold 65.12 lakh shares or 4.9 percent at Rs 199.22 per share.

Shares of Dabur fluctuated between gains and losses to trade little changed at Rs 491.70 after the company announced December quarter results.

Key Earnings Highlights (Q3, YoY)

• Net profit up 8.7 percent to Rs 399 crore.
• Revenue up 7 percent to Rs 2,353 crore.
• Ebitda up 10.4 percent to Rs 492.5 crore.
• Margin at 20.9 percent versus 20.3 percent.

Shares of Colgate-Pamolive India fell as much as 4.7 percent to Rs 1,415 after the company announced December quarter results.

Key Earnings Highlights (Q3, YoY)

• Revenue up 4.4 percent to Rs 1,147 crore (Estimate: Rs 1,150 crore)
• Net profit up 3.6 percent to Rs 199 crore (Estimate: Rs 207 crore)
• Ebitda up 0.6 percent to Rs 316 crore (Estimate: Rs 316 crore)
• Margin at 27.6 percent versus 28.6 percent (Estimate: 27.5 percent)
• Volume growth at 2.3 percent.

Bajaj Auto Q3 Results: Profit Beats Estimates, Margin Jumps To Highest In Six Quarters

Shares of Aurobindo Pharma fell as much as 8.2 percent, the most since Nov. 14, 2019, to Rs 465.85.

The pharmaceutical company received a has received a letter from the U.S. FDA classifying the inspection of Unit VII, an oral solids formulation manufacturing facility of the company at the aforesaid facility as Official Action Indicated, according to its statement to the exchanges.

“The company believes that this OAI classification will not have any material impact on the existing revenues or the supplies to our U.S. business at this juncture and will work closely with the regulator to comprehensively address the issues,” the statement added.

Nifty’s 12,100 call option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the contract, which is set to expire today, fell 83.35 percent to Rs 7.80. About 54.54 lakh shares were added to the open interest which stood at over 71.97 lakh shares.

Shares of Strides Pharma Science rose as much as 6.7 percent to Rs 477 after announcing December quarter results.

Key Earnings Highlights (Q3, YoY)

• Net Profit up 3.6 times to Rs 101.7 crore.
• Revenue up 28 percent to Rs 735.3 crore.
• Ebitda up 1.85 times to Rs 185.1 crore.
• Margin at 25.2 percent versus 11.3 percent.

The Chief Executive Officer of Tata Motors-owned Jaguar Land Rover Ralf Speth is set to retire in September, the automaker said.

Tata Motors says:

• Search committee to identify Ralf Speth’s successor.
• Speth to become JLR non-executive chairman

Source: Bloomberg

Tata Power (Q3, YoY)

• Stock fell as much as 3.1 percent to Rs 59.
• Revenue fell 11.4 percent to Rs 7,071 crore. (Estimate Rs 7638 crore)
• Net profit rose 26.1 percent to Rs 178.9 crore. (Estimate Rs 278.8 crore)
• Ebitda fell 3.9 percent to Rs 1,804.9 crore. (Estimate Rs 1987.7 crore)
• Margin stood at 25.5 percent versus 23.5 percent. (Estimate 26 percent)

Pidilite Industries (Q3, YoY)

• Stock rose as much as 3.2 percent to Rs 1,545.
• Revenue rose 4.3 percent to Rs 1,926.6 crore. (Estimate Rs 1920 crore)
• Net profit rose 55.7 percent to Rs 341.8 crore. (Estimate Rs 300 crore
• Ebitda rose 35.8 percent to Rs 463.2 crore. (Estimate Rs 414 crore)
• Margin stood at 24 percent versus 18.5 percent. (Estimate 21.6 percent)

CG Consumer Electricals (Q3, YoY)

• Stock rose as much as 3.4 percent to Rs 266.95.
• Revenue rose 4 percent to Rs 1,071.3 crore. (Estimate Rs 1111.7 crore)
• Net profit rose 2 times at Rs 161 crore. (Estimate Rs 101 crore)
• Ebitda rose 8.5 percent to Rs 136.8 crore. (Estimate Rs 136.6 crore)
• Margin stood at 12.8 percent versus 12.2 percent. (Estimate 12.3 percent)

Quess Corp (Q3, YoY)

• Stock swung from a gain of as much as 2.9 percent to fall as much as 2.7 percent.
• Revenue rose 35.8 percent to Rs 2,950 crore.
• Net profit rose 15.2 percent to Rs 74.9 crore.
• Ebitda rose 51.5 percent to Rs 179.4 crore.
• Margin stood at 6.1 percent versus 5.5 percent.

KPIT Technologies (Q3, QoQ)

• Stock rose as much as 4.6 percent to Rs 103.40.
• Revenue rose 1.1 percent to Rs 550 crore.
• Net profit rose 19.5 percent to Rs 42.9 crore.
• EBIT rose 14.1 percent to Rs 45.3 crore.
• Margin stood at 8.2 percent versus 7.3 percent.

Coffee Day Enterprises (Q2, YoY)

• Stock rose as much as 4.9 percent to Rs 32.30.
• Revenue fell 13.9 percent to Rs 843.2 crore.
• Net loss at Rs 154.1 crore versus Net Profit at Rs 21.2 crore.
• Ebitda fell 66.4 percent to Rs 49.5 crore.
• Margin stood at 5.9 percent versus 15 percent.

Escorts (Q3, YoY)

• Stock rose as much as 6.5 percent to Rs 796.90.
• Revenue down 1.3 percent to Rs 1,650.2 crore.
• Net profit up 11 percent to Rs 154.9 crore.
• Ebitda up 6 percent at Rs 213.1 crore.
• Margin at 12.9 percent versus 12 percent.
• Margin expansion saw due to change in product mix and savings in employee costs and other expenses.

Shares Greenlam Industries extended gains for the second consecutive trading session. The stock rose as much as 9 percent to Rs 1,037.70.

The board of the company’s unit—Greenlam South—approved setting up of the manufacturing facility at Nellore in Andhra Pradesh for manufacturing of laminates and allied products with an investment outlay of Rs 175 crore.

The proposed capacity addition of 15 lakh laminate sheets per annum will be there, from the current 1.56 crore laminate sheets per annum. The company also said that it has been provisionally allotted a 65-acre land by Andhra Pradesh Industrial Infra Corporation.

Trading volume was almost 350 times its 20-day average, Bloomberg data showed. The Relative Strength Index was above 70, indicating that the stock may be overbought.

Shares of Meghmani Organics halted their two-day losing streak. The stock rose as much as 4.3 percent to Rs 62.55.

The pigments and agrochemicals manufacturer plans to restructure its business by the demerger of its agro-chemical and pigment business into a wholly-owned arm Meghmani Organochem, which will be listed on the exchanges through mirror shareholding structure.

The company also said that it will merge the remaining business of the company with Meghmani Finechem having chloro-alkali and its derivatives business, with the shareholders being issued 94 shares of Meghmani Finechem against 1,000 shares of the company.

The stock returned 5.9 percent so far this year and 13.1 percent in the past 12 months, according to Bloomberg data.

Shares of Trident fell as much as 12.9 percent, the most since Dec. 17, 2019, to Rs 6.10.

That came after the company’s net profit fell 67 percent on a yearly basis to Rs 37.33 crore during December quarter. Its revenue fell 12 percent year-on-year to Rs 1,140 crore.

Trading volume was more the seven times its 20-day average, Bloomberg data showed.

• Mahindra Lifespace Developers to meet Kotak MF on Jan. 31

• Palred Technologies to move into ASM Framework.
• Paisalo Digital, Reliance Home Finance to move into short term ASM Framework.
• Dynacons Systems & Solutions, PG Electroplast to move out of short term ASM Framework.

Tata Power (Q3, YoY)

• Revenue fell 11.4 percent to Rs 7,071 crore. (Estimate Rs 7638 crore)
• Net profit rose 26.1 percent to Rs 178.9 crore. (Estimate Rs 278.8 crore)
• Ebitda fell 3.9 percent to Rs 1,804.9 crore. (Estimate Rs 1987.7 crore)
• Margin stood at 25.5 percent versus 23.5 percent. (Estimate 26 percent)

Pidilite Industries (Q3, YoY)

• Revenue rose 4.3 percent to Rs 1,926.6 crore. (Estimate Rs 1920 crore)
• Net profit rose 55.7 percent to Rs 341.8 crore. (Estimate Rs 300 crore
• Ebitda rose 35.8 percent to Rs 463.2 crore. (Estimate Rs 414 crore)
• Margin stood at 24 percent versus 18.5 percent. (Estimate 21.6 percent)

CG Consumer Electricals (Q3, YoY)

• Revenue rose 4 percent to Rs 1,071.3 crore. (Estimate Rs 1111.7 crore)
• Net profit rose 2 times at Rs 161 crore. (Estimate Rs 101 crore)
• Ebitda rose 8.5 percent to Rs 136.8 crore. (Estimate Rs 136.6 crore)
• Margin stood at 12.8 percent versus 12.2 percent. (Estimate 12.3 percent)

Quess Corp (Q3, YoY)

• Revenue rose 35.8 percent to Rs 2,950 crore.
• Net profit rose 15.2 percent to Rs 74.9 crore.
• Ebitda rose 51.5 percent to Rs 179.4 crore.
• Margin stood at 6.1 percent versus 5.5 percent.

KPIT Technologies (Q3, QoQ)

• Revenue rose 1.1 percent to Rs 550 crore.
• Net profit rose 19.5 percent to Rs 42.9 crore.
• EBIT rose 14.1 percent to Rs 45.3 crore.
• Margin stood at 8.2 percent versus 7.3 percent.

Coffee Day Enterprises (Q2, YoY)

• Revenue fell 13.9 percent to Rs 843.2 crore.
• Net loss at Rs 154.1 crore versus Net Profit at Rs 21.2 crore.
• Ebitda fell 66.4 percent to Rs 49.5 crore.
• Margin stood at 5.9 percent versus 15 percent.

Escorts (Q3, YoY)

• Revenue down 1.3 percent to Rs 1,650.2 crore.
• Net profit up 11 percent to Rs 154.9 crore.
• Ebitda up 6 percent at Rs 213.1 crore.
• Margin at 12.9 percent versus 12 percent.
• Margin expansion saw due to change in product mix and savings in employee costs and other expenses.

• InterGlobe Aviation: A majority of the company's shareholders voted against a proposal to amend the articles of association of the company that would’ve allowed the promoters to buy or sell stake in India’s largest airline. 51.44 percent of the participating shareholders voted against the special resolution at today’s extraordinary general meeting, according to a stock exchange filing by the parent company of IndiGo airlines. The remaining 48.6 percent were in favour. A special resolution requires support from at least 75 percent of the votes cast to go through.
• HDFC Bank: Reserve Bank of India imposed Rs 1 crore penalty on the Bank for due diligence failure in case of 39 current accounts opened for bidding in Initial Public Offering.
• Hindustan Aeronautics: Government to sell rose to 15 percent stake in the company via offer for sale, according to a statement published by the department of investment and public asset management, according to a Bloomberg report.
• Meghmani Organics will restructure its business by the demerger of its agro-chemical and pigment business into a wholly-owned arm Meghmani Organochem, which will be listed on the exchanges through mirror shareholding structure. The company also said that it will merge the remaining business of the company with Meghmani Finechem having chloro-alkali and its derivatives business, with the shareholders being issued 94 shares of Meghmani Finechem against 1,000 shares of the company.
• MOIL received environmental clearance for enhancement of production capacity from 90,000 TPA to 203,200 TPA for its manganese ore mine at Maharashtra.
• Greenlam Industries’ arm Greenlam South’s board approved setting up of the manufacturing facility at Nellore in Andhra Pradesh for manufacturing of laminates and allied products with an investment outlay of Rs 175 crore. The proposed capacity addition of 15 lakh laminate sheets per annum will be there, from the current 1.56 crore laminate sheets per annum. The company also said that it has been provisionally allotted a 65-acre land by Andhra Pradesh Industrial Infra Corporation.
• Pidilite Industries will acquire Nitin Enterprises for Rs 18.5 crore, as a part of a restructuring exercise.
• Videocon Insolvency: NCLT directed Goods and Services Tax Department to not take any coercive steps against Videocon Group Entities.
• SEBI disposed of adjudicating proceedings against Abhijit Rajan, former chairman of Gammon Infrastructure Projects, in an alleged insider trading.
• ICICI Lombard General Insurance: IRDAI imposed a penalty of Rs 1 crore on the company with respect to onsite inspection of the company which was carried out in August 2015.
• JSW Energy allotted Rs 300 crore worth of non-convertible debentures.
• Piramal Enterprises: Board approved allotment of 2.64 crore shares at Rs 1,300 per share aggregating to Rs 3,432 crore.
• JSW Steel’s Netherlands arm has completed the sale of its 39 percent stake in Geo Steel to its joint venture Partner Georgian Steel Group Holdings. Post the completion of the sale, the company holds 10 percent stake in Geo Steel.
• Himadri Speciality Chemical said that commercial operations of the proposed expansion of 60,000 MTPA plant for manufacturing carbon black at West Bengal have commenced. The overall capacity of carbon black has increased to 180,000 MTPA.
• BL Kashyap received the letter of intent for civil construction in Noida for Rs 487.9 crore from Bhutani Infra.
• ITI will consider issue price for its FPO issue on Feb. 1.

Fed Holds Main Rate as Powell Stresses Need to Hit 2% Inflation