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Sensex, Nifty End Lower For Second Day In A Row As HDFC Bank, ITC Drag

Sensex, Nifty End Lower For Second Day In A Row As HDFC Bank, ITC Drag
A trader monitors financial data inside the Frankfurt Stock Exchange, operated by Deutsche Boerse AG, in Frankfurt, Germany. (Photographer: Alex Kraus/Bloomberg)
6 years ago
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Indian equity indices ended lower for the second consecutive trading session, led by the declines in HDFC Bank Ltd. and ITC Ltd.

The BSE Sensex fell 0.49 percent to end at 41,257.74 and the NSE Nifty fell 0.5 percent to end at 12,113.45. The broader markets represented by the NSE Nifty 500 Index fell 0.57 percent.

The market breadth was tilted in favour of sellers. About 1,157 stocks declined and 625 shares advanced on National Stock Exchange.

All the 11 sectoral gauges compiled by the NSE ended lower, led by the NSE Nifty PSU Bank Index’s 1.9 percent fall.

SpiceJet

  • Stock reversed opening losses and jumped 7.2 percent intraday to Rs 93.40 after announcing December quarter results.

Key Earnings Highlights (Q3, YoY)

  • Revenue up 46.7 percent at Rs 3,647.1 crore.
  • Net profit rose 32.8 percent to Rs 73.2 crore.
  • Ebitdar rose 11.5 percent to Rs 508.9 crore.
  • Margin at 14 percent versus 18.3 percent.

Bharti Airtel

  • Shares jumped as much as 5.1 percent to a lifetime high of Rs 567.55.
  • Fresh longs seen with high open interest of 11 percent.
  • Volumes 3 times the 20-day average, Bloomberg data showed.

Deepak Nitrite

  • Shares rose 7 percent intraday to hit a lifetime high of Rs 464.90.
  • Biggest gaining streak in seven months.
  • Rises by 14 percent in last six sessions.

Ircon International

  • Shares advanced close to 8.5 percent to Rs 572.90.
  • Rises by 44 percent since listing in September 2018.

Godrej Agrovet

  • Stock fell as much as 7.4 percent to Rs 515.90.
  • Trading volume was more than six times its 20-day average.

Page Industries

  • Stock fell as much as 8.1 percent to Rs 21,609.
  • Trading volume was nine times its 20-day average.

Pfizer

  • Stock fell as much as 9 percent to Rs 4,176.75
  • Trading volume was seven times its 20-day average.

Shares of Shree Renuka Sugars fell as much as 12.8 percent to Rs 6.8.

Trading volume was more than two times its 20-day average, Bloomberg data showed. The scrip declined 29 percent in the past 12 months compared to a 15 percent gain in the Sensex.

Indian equities extended declines to trade at day’s low.

The S&P BSE Sensex fell 0.63 percent to 41,200 and the NSE Nifty 50 fell 0.66 percent to 12,095. The broader markets represented by the NSE Nifty 500 Index fell 0.68 percent.

Shares of Akzo Nobel India extended rally for the second consecutive trading session. The stock rose as much as 8.3 percent to Rs 2,448.95.

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

Shares of Deepak Nitrite extended gains for the sixth consecutive trading session. The stock rose as much as 8.7 percent to hit an all-time high at Rs 464.90.

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

About 71.4 lakh shares of GMR Infrastructure changed hands in two large trades, Bloomberg data showed. Buyers and sellers were not known immediately.

Shares of SpiceJet halted a three-day losing streak and rose as much as 10.3 percent to 93.40 after announcing December quarter results.

Key Earnings Highlights (Q3, YoY)

  • Revenue up 46.7 percent to Rs 3,647.1 crore.
  • Net profit up 32.8 percent to Rs 73.2 crore.
  • Ebitdar up 11.5 percent to Rs 508.9 crore.
  • Margin at 14 percent versus 18.3 percent.

Shares of Aegis Logistics extended gains for the second consecutive trading session. The stock rose as much as 10.2 percent, to Rs 251.45, the highest since Aug. 8, 2018.

The stock returned 5.1 percent in the past five days and rallied 20 percent in the past 30 days, Bloomberg data showed. Aegis logistics traded at 30 times its estimated earnings per share for the coming year, according to Bloomberg.

U.S. equity futures edged higher while stocks were mixed in Europe and Asia as traders sorted through contrasting data from China on how the coronavirus is spreading.

  • Futures on the S&P 500 Index rose 0.1 percent.
  • Nasdaq 100 Index futures edged up 0.2 percent.
  • The Stoxx Europe 600 Index was little changed.
  • The MSCI Asia Pacific Index dipped 0.1 percent.
  • The MSCI World Index of developed countries fell 0.1 percent.

Get your daily fix of global markets here.
Source: Bloomberg

About 14 lakh shares of Tata Motors changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

The inflation as measured by the wholesale price index stood at 3.1 percent in January, according to data released by the Ministry of Commerce and Industry.

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

Premium on the contract, which is set to expire on Feb. 20, rose 22.75 percent to Rs 113.30. About 8 lakh shares were added to the open interest which stood at over 13.5 lakh shares.

  • State-run firms withdraw pleas from Supreme Court on telecom dues.
  • Supreme Court allows Oil India Ltd. to withdraw petition on dues.
  • Source: Bloomberg

Indian equities erased gains.

The S&P BSE Sensex traded little changed at 41,417 after rising as much as 0.59 percent earlier. The NSE Nifty 50 also traded little changed at 12,157 after gaining as much as 0.59 percent during the opening trade.

Apollo Hospital Enterprises (Q3, YoY)

  • Stock rose as much as 2.7 percent to Rs 1,741.55.
  • Revenue rose 17 percent to Rs 2,911 crore
  • Net profit rose 83 percent to Rs 90 crore
  • Ebitda rose 53 percent to Rs 428 crore
  • Margin stood at 14.7 percent versus 11.2 percent
  • Healthcare services segment revenue rose 12 percent to Rs 1,497.9 crore
  • Pharmacy segment revenue rose 22 percent to Rs 1,232.6 crore
  • Clinics segment revenue rose 22 percent
  • Board approved amalgamation of its arm Apollo Home Healthcare and Western Hospitals into the company

Page Industries (Q3, YoY)

  • Stock fell as much as 8.1 percent to Rs 21,609.
  • Revenue rose 7.5 percent to Rs 793.8 crore
  • Net profit fell 14.6 percent to Rs 87 crore
  • Ebitda fell 16 percent to Rs 138.8 crore
  • Margin stood at 17.5 percent versus 22.4 percent

Lemon Tree Hotels (Q3, YoY)

  • Stock rose as much as 3.4 percent to Rs 56.50.
  • Revenue rose 39.2 percent to Rs 199.6 crore
  • Net profit fell 2.4 percent to Rs 12.2 crore
  • Ebitda rose 65.4 percent to Rs 81.2 crore
  • Margins stood at 40.7 percent versus 34.2 percent

All Cargo Logistics (Q3, YoY)

  • Stock fell as much as 4.3 percent to Rs 105.10.
  • Revenue fell 1 percent to Rs 1,786.8 crore
  • Net profit fell 8 percent to Rs 43.9 crore
  • Ebitda rose 12 percent to Rs 126.4 crore
  • Margin stood at 7.1 percent versus 6.3 percent
  • Deferred Tax Reversal of Rs 41.3crore

Shares of Adani Green Energy halted its three-day losing streak. The stock rose as much as 4.9 percent to Rs 209.90.

The company entered into a binding agreement with Total, who will invest $510 million for the acquisition of a 50 percent stake in a JV company which will house 2,148 MWAC operating solar projects presently which are 100 percent owned by Adani Green Energy.

The scrip advanced 517 percent in the past 12 months compared to a 15 percent gain in the Sensex.

Shares of Avenue Supermarts fell as much a 4.4 percent, the most since Nov. 26, 2019, to Rs 2,432.

The company’s promoters plan to sell 2.28 percent stake via offer for sale of shares. Promoters to sell up to 1.48 crore shares at a floor price of Rs 2,049 per share for Rs 3,032.52 crore.

Trading volume was 30 times its 20-day average, Bloomberg data showed. The stock traded at 113 times its estimated earnings per share for the coming year.

Shares of Vodafone Idea rose as much as 21.1 percent, the most since Jan. 21, 2020, to Rs 5.45.

The wireless telecom operator reported greater-than-expected loss in the quarter ended December amid concerns about the telecom operator’s ability to remain in business.

Key Earnings Highlights (Q3, YoY)

  • Revenue rose 2.3 percent to Rs 11,089.4 crore
  • Net loss at Rs 6,438.8 crore versus loss of Rs 50,922 crore
  • Ebitda rose 0.7 percent to Rs 3420.5 crore
  • Margins stood at 30.8 percent versus 31.3 percent
  • ARPU rose 2 percent to Rs 109 versus Rs 107

Indian equities opened higher, after declining for two consecutive trading sessions.

The S&P BSE Sensex rose 0.4 percent to 41,638 and the NSE Nifty 50 rose 0.42 percent to 12,225. The broader markets represented by the NSE Nifty 500 Index rose 0.4 percent.

The market breadth was tilted in favour of buyers. About 915 stocks advanced and 525 shares declined on National Stock Exchange.

All the 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Private Bank Index’s 0.49 percent gain.

  • V2 Retail promoter V2 Conglomerate acquired 1lk shares on Feb. 11
  • Alkem Lab promoter Nawal Singh sold 1lk shares from Feb. 10-12
  • (As Reported On Feb. 13)

  • Container Corporation of India to meet IIFL Securities, Edelweiss Securities and other investors from Feb. 18-20.

  • Fermenta Biotech record date for bonus issue at 2:1
  • Rajnish Wellness, Tasty Bite Eatables, Nandan Denim, Shemaroo Entertainment, Aanchal Ispat price band revised to 10 percent
  • Mangalam Organics, Toyam Industries, Hind Rectifiers, Nandan Denim, Neogen Chemicals, Tasty Bite Eatables to move into short term ASM Framework
  • Sadhana Nitro Chem to move out of short term ASM Framework

  • Eveready Industries: Yes Bank sold 64.55 lakh shares (8.88 percent) at Rs 60 each

Indian equities are set for a tepid start.

The S&P BSE Sensex traded little changed 41,466 during the pre-market trade and the NSE Nifty 50 fell 0.2 percent to 12,148.

Apollo Hospital Enterprises (Q3, YoY)

  • Revenue rose 17 percent to Rs 2,911 crore
  • Net profit rose 83 percent to Rs 90 crore
  • Ebitda rose 53 percent to Rs 428 crore
  • Margin stood at 14.7 percent versus 11.2 percent
  • Healthcare services segment revenue rose 12 percent to Rs 1,497.9 crore
  • Pharmacy segment revenue rose 22 percent to Rs 1,232.6 crore
  • Clinics segment revenue rose 22 percent
  • Board approved amalgamation of its arm Apollo Home Healthcare and Western Hospitals into the company

Page Industries (Q3, YoY)

  • Revenue rose 7.5 percent to Rs 793.8 crore
  • Net profit fell 14.6 percent to Rs 87 crore
  • Ebitda fell 16 percent to Rs 138.8 crore
  • Margin stood at 17.5 percent versus 22.4 percent

Lemon Tree Hotels (Q3, YoY)

  • Revenue rose 39.2 percent to Rs 199.6 crore
  • Net profit fell 2.4 percent to Rs 12.2 crore
  • Ebitda rose 65.4 percent to Rs 81.2 crore
  • Margins stood at 40.7 percent versus 34.2 percent

All Cargo Logistics (Q3, YoY)

  • Revenue fell 1 percent to Rs 1,786.8 crore
  • Net profit fell 8 percent to Rs 43.9 crore
  • Ebitda rose 12 percent to Rs 126.4 crore
  • Margin stood at 7.1 percent versus 6.3 percent
  • Deferred Tax Reversal of Rs 41.3crore

  • Avenue Supermarts’ promoters plan to sell 2.28 percent stake via offer for sale of shares. Promoters to sell up to 1.48 crore shares at a floor price of Rs 2,049 per share for Rs 3,032.52 crore.
  • Amtek Auto: Financial creditors to the company have approved a resolution plan submitted by Deccan Value Investors. The resolution applicant, according to a person in the know, has offered Rs 2,700 crore to the financial creditors as part of the plan. Of this, Rs 500 crore would be offered upfront while Rs 1,800 crore will be repaid through future receivables over time. Deccan Value will also offer Rs 300 crore through convertible debentures over seven years, the person said. The person spoke on the condition of anonymity as the discussions are confidential.
  • BPCL: Board approved to initiate the process of divestment of the company’s shareholding of 61.65 percent stake in Numaligarh Refinery as per the decision of Cabinet Committee on Economic Affairs. This divestment would be undertaken subject to the completion of all requisite formalities including inter-alia shareholders' approval.
  • HDFC updated its existing medium-term note program for an amount of up to $2.8 billion to issue rupee/foreign currency-denominated bonds in international capital markets.
  • Mahindra & Mahindra clarified that the Board of SsangYong Motor has approved a 3 years business plan which will lead to the profitability of the company in the year 2022. This plan requires outside funding of $380 – 425 million over a period of three years. About half of this amount is to repay the existing loan and the remaining is to augment the capex required for new product development.
  • TCS: Board extended the term of V. Ramakrishnan as Chief Financial Officer till April 2021.
  • Adani Green Energy has entered into a binding agreement with Total, who will invest $510 million for the acquisition of a 50 percent stake in a JV company which will house 2,148 MWAC operating solar projects presently which are 100% owned by Adani Green Energy.
  • Jain Irrigation clarified on the news of forex scam where the tainted company has dealt with Jain Energy. The company said it is not part of the Jain Irrigation Group.
  • Jindal Polyfilms: Board approved expansion plans for the company’s India operation by an investment of Rs 700 crore in Polyester Film Line and BOPP Film Line.
  • Yes Bank sold 9.47 percent stake in Eveready Industries in various tranches.
  • Godrej Industries: Nadir B. Godrej re-appointed as managing director till March 2023.
  • Telecom Stocks: Supreme Court to hear telecom dues case on Feb. 14.
  • Future Retail: Current Chief Executive Officer and Managing Director Kishore Biyani to become executive chairman with effect from March 2020. Rakesh Biyani to become Managing Director of the company till May 2022. Sanjay Jain to become the new CEO from March.
  • NACL Industries: Board approved the formation of the new arm to take up a Greenfield project for manufacturing various chemicals including agrochemicals in the State of Gujarat, with an initial capital outlay of about Rs.150 crore. The board also of another arm to take up Company’s proposed Greenfield project at Andhra Pradesh.
  • Jai Corp: Board approved the discontinuation of Masterbatch and Dyeing Unit, disposal of land and building in Daman and approved deleveraging the Balance Sheet by divesting certain non-core assets.

  • U.S. equities had a turbulent Thursday, fluctuating between gains and losses on mixed news about the coronavirus outbreak, only to fade after the Federal Reserve Bank of New York said it will further shrink repurchase agreement operations.
  • Oil rose for a third session, the longest winning streak since early January, after the World Heath Organization rekindled optimism that the coronavirus outbreak could be abating.
  • Get your daily fix of global markets here.

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