Stock Market Today: Nifty, Sensex Reverse Gains To End 1% Lower As RIL, ITC, Bajaj Finance Decline

• Revenue rose 13.47% to Rs 3315.3 crore from Rs 2921.7 crore

• Ebitda surged 83.28% to Rs 407.37 crore from Rs 222.26 crore

• Margin rose 468 bps to 12.28% from 7.6%

• Net profit rose 94.22% to Rs 125.8 crore from Rs 64.77 crore

• Bharat Electronics Ltd received an order worth Rs 847 crore.

• The company signed a pact worth Rs 665.8 crore with CBIC, Finance Ministry for implementation, management of IT infrastructure.

• BEL has also received additional orders worth Rs 182 crore for miscellaneous spares & services.

Source: Exchange Filing

• Revenue down 34.25% to Rs 5464.2 crore from Rs 8309.6 crore

• Ebitda down 54.15% to Rs 357.94 crore from Rs 780.61 crore

• Margin down 284 bps to 6.55% from 9.39%

• Net profit down 56.62% at Rs 228.11 crore from Rs 525.85 crore

• Revenue rose 4.9% to Rs 1,156.1 crore from Rs 1,105.6 crore

• Ebitda rose 25.3% to Rs 288 crore from Rs 229.9 crore

• Margin rose 411 bps to 24.91% from 20.79%

• Net profit rose 17.61% to Rs 176.64 crore from Rs 150.19 crore

• Revenue rose 3.37% to Rs 639.5 crore from Rs 618.6 crore

• Ebitda rose 23.75% to Rs 155.86 crore from Rs 125.94 crore

• Margin grew 401 bps to 24.37% from 20.35%

• Net profit rose 39.46% Rs 103.9 crore from Rs 74.5 crore

• Revenue grew 9.41% to Rs 125.5 crore from Rs 114.7 crore

• Net profit down 0.57% to Rs 17.4 crore from Rs 17.5 crore

• Margin down 157 bps to 18.56% from 20.13%

• Ebitda rose 0.86% to Rs 23.3 crore from Rs 23.1 crore

• Revenue rose 14.71% at Rs 1,218.73 crore from Rs 1,062.39 crore

• Net profit rose 16.26% to Rs 82.64 crore from Rs 71.08 crore

• Ebitda rose 18.38% to Rs 179.48 crore from Rs 151.61 crore

• Margin rose 45 bps at 14.72% from 14.27%

• Revenue rose 11.9% to Rs 732.5 crore from Rs 654.6 crore

• Ebitda rose 77.4% to Rs 59.6 crore from Rs 33.6 crore

• Margin rose 300 bps to 8.13% vs 5.13%

• Net profit was at Rs 26.9 crore from Rs 8.3 crore

• Revenue rose 9.9% to Rs 685.3 crore from Rs 623.6 crore

• EBITDA was at Rs159 crore against Rs 59 crore

• Margin up 1,374 bps to 23.19% from 9.45%

• Net profit was at Rs 108.9 crore from Rs 11 crore

• Revenue at Rs 520.7 crore vs Rs 126.5 crore

• Ebitda fell 2.3% to Rs 8.5 crore from Rs 8.7 crore

• Margin fell 524 bps to 1.63% from 6.87%

• Net profit at Rs 29.9 crore vs Rs 5.8 crore

• Approves raising up to Rs 1,500 crore via multiple instruments

• Revenue up 19.99% at Rs 1037.7 crore vs Rs 864.8 crore

• Net profit Rs 54.1 crore vs loss of 82.1 crore

• Ebitda up 66.8% at Rs 193.8 crore vs Rs 116.2 crore

• Margin up 523 basis points at 18.67% vs 13.43%

Source: Exchange Filing

• Net profit up 28.1% at Rs 217.6 crore vs Rs 169.9 crore

• Revenue up 1.9% at Rs 4,013.2 crore vs Rs 3,938.9 crore

• Ebitda up 17.98% at Rs 405 crore vs Rs 343.26 crore

• Margin up 137 basis points at 10.09% vs 8.71%

Source: Exchange Filing

• Net profit up 5.1% at Rs 41 crore vs Rs 39 crore.

• Revenue down 10.8% at Rs 247 crore vs Rs 277 crore

• Margin up 192 basis points at 17.81% vs 15.88%

• Ebitda at Rs 44 crore

• Board declares third interim dividend of Rs 2 per share.

Source: Exchange Filing

• Net profit rose 21.1% to Rs 2,157.7 crore from Rs 1,782.02 crore

• Total income grew 33.5% to Rs 29,038.4 crore from Rs 21,755.4 crore

• Zee Entertainment Enterprises Ltd clarified it was not aware of, and cannot comment on, Star India's intentions.

• The company said it is not aware of next steps with respect to strategic license pact between the company and Disney Star.

• Alert: Issues clarification on report 'Disney mulls legal action against Zee'.

Source: Exchange Filing

Marico Q3 Results Review: Weakness In Rural Demand Persists, Say Brokerages

• Indian Overseas Bank had 14.7 lakh shares changed hands in a large trade

• The 0.01% equity changed hands at Rs 50.05 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

• Revenue rose 4.81% to Rs 1,257 crore from Rs 1,199 crore

• EBIT grew 8.62% to Rs 208.7 crore from Rs 192 crore

• Margin rose 58 bps to 16.59% from 16.01%

• Net profit rose 10.9% at Rs 156.8 crore from 141.4 crore

• Margin expands 20.6% despite hiring, salary hikes in Q3

• About 600 freshers hired, promotions given in Q3

• Net cash balance of Rs 829 crore, up Rs 310 crore QoQ

• Reliance Industries said it was unable to comment on media speculation

• The company is evaluating various opportunities on ongoing basis

• Alert: Issues clarification on report of Disney's India unit valuation

Source: Exchange Filing

• The company received an order worth Rs 120 crore from BPCL to supply, install 1800 DC fast EV chargers.

Source: Exchange Filing

Shares of the company rose as much as 8.94% to a record high of Rs 1,582 piece. It pared gains to trade 4.4% higher at Rs 1,516.65 apiece as of 9:57 a.m. This compares to a 0.03% decline in the NSE Nifty 50 Index.

It has risen 107.48% in the past 12 months. Total traded volume so far in the day stood at 16 times its 30-day average. The relative strength index was at 69.97

Six analysts tracking the company have a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 15.3%.

• NTPC Green signs pact for 1 MTPA green hydrogen projects

• NTPC Green signs pact with Maharashtra Govt for Rs 80,000 crore investment

Source: Bloomberg

• ICICI Prudential MF cuts stake in PVR Inox to 3.17% from 5.19%.

• ICICI Prudential MF reduces stake in co by 2.02% between 12 Oct, 2023 to 25 Jan, 2024.

Source: Exchange Filing

• Zee-Sony arbitration proceedings in Singapore International Arbitration Centre to begin tomorrow

• Alert: Zee initiates legal action to contest Culver Max and BEPL’s claims

• Alert: Zee initiates legal action to contest claims in arbitration proceedings before SIAC

Sources: People In The Know To NDTV Profit

• Samvardhana Motherson International Ltd had 12 lakh shares changed hands in a large trade.

• The company had 0.02% equity changed hands at Rs 116.75 apiece.

• Buyers and sellers not known immediately.

Source: Bloomberg

Marico Q3 Results: Profit Rises 16%, Revenue Dips On Weak Rural Demand

• Suzlon Energy received a new order of 642 MW from Evren to supply 214 wind turbines with rated capacity of 3 MW each.

Source: Exchange Filing

• Larsen & Toubro arm got an order in the range Rs 10,000-15,000 crore for establishing renewable generation plant in UAE.

• It received order from Dubai for solar photovoltaic plant.

Source: Exchange Filing

• NCLT dismissed insolvency petition filed against SpiceJet Ltd by aircraft lessor Wilmington Trust SP Services

Source: Exchange Filing

• Dish TV had 11.1 lakh shares changed hands in a large trade.

• The company had 0.1% equity changed hands at Rs 20.6 apiece.

• Buyers and sellers not known immediately.

Source: Bloomberg

• The company listed at Rs 225 on BSE vs issue price of Rs 230

• Epack Durable listed at discount of 2.17% to the issue price on BSE

• It listed at Rs 221 on NSE vs issue price of Rs 230

• Epack Durable listed a discount of 3.91% to the issue price on NSE

Source: Exchanges

• Zydus Lifesciences introduced oral advanced prostate cancer drug Rexigo in India.

Source: Exchange Filing

• NHPC had 80.2 lakh shares or 0.1% equity changed hands in multiple large trades

• Buyers and sellers not known immediately

Source: Bloomberg

The market breadth was skewed in favour of buyers. Around 1,840 stocks gained, 1,113 shares fell, and 99 remained unchanged.

At pre open, the NSE Nifty 50 was 38.15 points or 0.18 % higher at 21,775.75, and the BSE Sensex was 58.63 points or 0.08% higher at 72,000.20.

• The yield on the 10-year bond opened flat at 7.16%.

Source: Bloomberg

• The local currency opened flat at 83.14 against the U.S dollar.

Source: Bloomberg

• Investec retained Price target of Rs. 499 with a 'Buy' rating on Investec

• Operationally, ITC Ltd's results were below estimates.

• The brokerage expects a revenue growth uptick from Q1FY25.

• Believes weak staples environment, steady earnings and modest valuations stand out.

• The brokerage cut FY25E earnings by 3% and roll forward to Dec 25

• Expects cigarette volumes to be weak until the base normalises in Q1FY25.

• Expects paper performance to have bottomed out, the brokerage said.

• AU Small Finance Bank has appointed Harun Rasid Khan as Part-Time Chairman.

Source: Exchange Filing

• Mastek Ltd Keep exploring various strategic opportunities

• The company said to the exchanges there is no information which requires disclosure

• Alert: Issues clarification on report of co eying PE capital of $400 million

Source: Exchange Filing

Treasuries Steady After Rally, China Woes In Focus: Markets Wrap

• Jio's continued lead on active subscriber additions bodes well for sector's pricing outlook

• Strong 3G/4G subscriber additions, Bharti's 20 basis point market share gain augur well for ARPU outlook

• VIL's subscriber additions are not broad-based across circles

• Expect continued market share gains in favour of Bharti/Jio as 5G becomes mainstream, JioBharat adoption

• Citi Research retained 'buy' on GAIL, and raised target price to Rs 195 per share from Rs 185 apiece.

• Citi said, GAIL's results beat driven by solid gas trading performance

• Petchem segment recorded profits after five quarters of losses, said the brokerage

• Net income beat estimates, aided by higher dividend income, Citi said.

• Gas transmissions' Ebitda fell 5% QoQ impacted by higher fuel cost.

• Full impact to be realised in 4Q, but could be offset by lower LNG prices.

• The brokerage raised FY24E Ebitda by 15%.

• Citi Research maintained a 'buy' on Marico, but lowers target price to Rs 585 apiece from Rs 610 per share earlier.

• The brokerage trimmed FY24-26E earnings estimates by 1-3%.

• Marico took measures to revive the general trade channel, the brokerage said.

• Company corrected distributor inventory in 3Q, the brokerage said.

• Citi Research maintained 'buy' on IndiGo Airlines, and raised target price to Rs 3,400 per share from Rs 2,900 apiece.

• The brokerage has raised ASK assumptions by 1-2% over FY24-26E

• Large number of engines is to be removed for shop visits between 2023 and 2026, Citi Research said.

• Accelerated removals, incremental shop visits is likely adversely impact operating fleet from Q4 onwards, the brokerage said.

• Citi has raised RPK, yield estimates by 2-4%

• Revenue estimates increase by 4-8%,

• Ebitda estimates by 9-10% over FY24-26E

• Citi Research rated Piramal Enterprises Ltd with 'sell' with target price lowered to Rs 850 apiece from Rs 880 per share earlier.

• Provision towards AIF Investments dents earnings, the brokerage said.

• Management confident of AIF recovery, Citi Research said.

• Piramal Enterprises' Q3 earnings were flat QoQ, NIMs up 28bps QoQ.

• Its credit costs at over 160bps due to chunky Real Estate account.

• The company's growth led by unsecured retail and uptick in LAP & business loans.

US Seeks Just-Tough-Enough Response To Deadly Mideast Attack

• Price band revised from 20% to 10%: Dhunseri Ventures, Oswal Greentech, Steel Exchange of India, Urja Global.

• Price band revised from 10% to 5%: Jaiprakash Associates.

• Ex/record date dividend: Persistent Systems, Siemens.

• Moved into short-term ASM framework: Borosil Renewables, India Nippon Electricals, Oswal Greentech, Visaka Industries.

Tips Industries Promoters Sell 5% Stake To SBI MF For Rs 244 Crore

GAIL Inks Pact To Buy LNG From ADNOC For 10 Years

NTPC Q3 Results: Profit Rises 7.3%, Revenue Falls

L&T Q3 Preview: Profit May Rise On Order Inflow, Project Execution

Stock Market Today: All You Need To Know Going Into Trade On Jan. 30