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The broader indices outperformed their larger peers with S&P BSE MidCap rising over 1% and S&P BSE SmallCap gaining 0.81%. Barring S&P BSE Information Technology and Consumer Durables, all the other 17 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Auto, Bankex, Telecom, Utilities and Power adding over 2%.
The market breadth was skewed in the favour of bulls. About 1,979 stocks advanced, 1,366 declined and 89 remained unchanged.
"Markets took a breather and gained over half a percent, tracking firm recovery in the US markets and upbeat earnings. Initially, the benchmark remained volatile however healthy buying in select index majors from banking, auto and telecom space helped the index to gradually inch higher as the day progressed", Ajit Mishra summarised the day's market action in a note. He added "Markets will react to the Fed meeting outcome in early trade on Thursday and we expect volatility to remain high, thanks to the scheduled monthly expiry. Keeping in mind the scenario, we reiterate our cautious view and suggest preferring hedged positions".
Shares of SRF Ltd. rose as much as 6.50% to Rs 2,523.8 apiece after the company reported net income above average analyst estimate for the quarter-ended December.
Net profit at Rs 505.54 vs Rs 382.46 crore
Revenue at Rs 3,345.87 crore vs Rs 2,938.97 crore
Total costs at Rs 2,626.26 crore vs Rs 2,317.67 crore
Other income at Rs 10.67 crore vs Rs 11.12 crore
Of the 53 analysts tracking the company, 35 maintained 'buy', seven maintained 'hold' and 11 maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied a downside of 2.1%. Trading volume on the stock is nearly two times the 30-day average volume at this time of the day.
Source: Exchange Filing, Bloomberg
Shares of Zomato rose as much as 9.91% in intraday trade after suffering a 20% rout on Monday.
Today's intraday rise is the most since Nov. 12.
Of the 19 analysts tracking the company, 14 maintained 'buy', one maintained 'hold' and four maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 65.7%.
Trading volume is nearly eight times the 30-day average volume, at this time of the day. The relative strength index on the stock is at 26, suggesting it may be oversold.
Source: Bloomberg
Future Group To Seek Stay On NPA Tag Ahead Of Repayment Deadline
The broader indices outperformed their larger peers, with S&P BSE MidCap little changed and S&P BSE SmallCap shedding 0.2%. Twelve of the 19 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Telecom rising nearly 2%.
The market breadth was skewed neither in the favour of the bulls nor the bears. About 1,611 stocks advanced, 1,655 declined and 98 remained unchanged.
Max Healthcare Institute Ltd. has 1.87 million shares change hands in a large trade.
Details of buyers, sellers are not known immediately.
Source: Bloomberg
Indian bonds gain amid an overnight easing in global crude oil price.
10-year yields down 2bps to 6.64%,
Source: Bloomberg
Union Budget 2022 is likely to be presented at 11 am on 1st February, despite staggered timing for Lok Sabha & Rajya Sabha: Sources
— ANI (@ANI) January 25, 2022
Market Veterans Suggest Top Themes And Sectors To 'Buy The Dip'
Yields fell across the India sovereign yield curve in Tuesday morning trading.
The 5-year yield fell 3bps to 5.907%
The 10-year yield fell 2.1bps to 6.638%
The 18-year yield remained unchanged at 7.133%
The 5-year-10-year yield spread was 73.1bps, vs previous close 72.2bps
The NSE Nifty 50 Index fell 0.8%
Source: Bloomberg
With this, BPCL's CGD footprints will extend to 48 GAs covering 94 districts in 18 states.
As of now, BPCL holds 33% market share in CGD sectory.
BPCL has committed to over Rs 22,000 crore for development of 23 GAs, including Rs 10,000 crore for the six new GAs.
Of the 38 analysts tracking the company, 35 maintained 'buy', two maintained 'hold' and one maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 42.8%.
Source: Exchange Filing, Bloomberg
L&T Finance raised to 'buy' from 'add' at ICICI Securities; price target set at Rs 97.
L&T Infotech raised to 'buy' from 'hold' at Anand Rathi Securities; price target set at Rs 7,070.
Havells India raised to 'accumulate' from 'sell' at Elara Securities India; price target set at Rs 1,360.
Source: Bloomberg
Revenue up 39% at Rs 1,722.27 crore Vs Rs 1,234.69 crore
Net profit up 12% at Rs 242.46 crore Vs Rs 216.56 crore
Ebitda up 5% at Rs 351.85 crore Vs Rs 335.04 crore
Margins at 20.4% Vs 27.1%
Of the 15 analysts tracking the company, 10 maintained 'buy', two maintained 'hold' and three maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 8%.
Source: Exchange Filing, Bloomberg
Axis Bank Q3 Review: Analysts Say ‘Buy’, But Rise In Costs Is Worrying
The broader indices outperformed their larger peers with the S&P BSE MidCap shedding 0.5% and S&P BSE SmallCap falling over 0.75%. Barring S&P BSE Telecom and S&P BSE Metal indices, all the other 17 sectoral indices compiled by BSE Ltd. declined with S&P Consumer Durables and Energy shedding 1.5%.
The market breadth was skewed in the favour of bears. About 990 stocks advanced, 1,822 stocks declined and 69 remained unchanged.
Bharti Airtel Ltd. will consider issuing shares on a preferential basis at its board meeting on Jan. 28, the telecom services provider said in a exchange filing.
The equity shares will be issued to entities "other than" the promoter and promoter group, the company said.
Ramco Cements upgraded to 'add' from 'reduce' by Centrum Broking; price target set at Rs 994.
HDFC AMC upgraded to 'buy' from 'add' by Axis Capital Ltd.; price target set at Rs 2,750.
Source: Bloomberg
Reliance Industries Ltd. is in talks with investors to raise $3 billion in equity to fund its renewable energy business, Mint reported citing people it did not identify.
The discussions led by Manoj Modi are at a preliminary stage.
Funds would go to Reliance New Energy Solar Ltd., the report said.
RIL did not immediately respond to Mint's email seeking comments.
Source: Bloomberg
Future Retail: Missed interest payments due on 5.6% senior secured notes (USD).
IndiaMart: Has entered into an agreement to invest Rs 61.55 crore in Simply Vyapar Apps in its Series B investment round by subscribing 1,809 Series B compulsorily convertible preference shares and purchasing 444 equity shares.
Alkem Laboratories: To consider declaration of interim dividend on Feb. 4.
Kirloskar Ferrous: Announced interim dividend of Rs 2.5 per share.
Mannapuram Finance: To consider declaration of interim dividend on Feb. 14.
GMM Pfaudler: To consider declaration of interim dividend on Feb. 3.
Earnings: Maruti Suzuki India, Cipla, Pidilite Industries, Macrotech Developers, SRF, United Spirits, Torrent Pharmaceuticals, Aditya Birla Sun Life AMC, APL Apollo Tubes, Brightcom Group, Astec Lifesciences, Best Agrolife, Can Fin Homes, CarTrade Tech, Cosmo Films, Federal Bank, Finolex Industries, Indiabulls Real Estate, Icra, Ion Exchange (India), MPS, Raymond, RPG Life Sciences, Star Cement, Swaraj Engines, Symphony, TeamLease Services
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