Asian markets are set to advance, following a rally on Wall Street as traders position for the U.S. inflation data later in the day that might not be as bad as once feared.
The S&P 500 added 1.1% and the tech-heavy Nasdaq 100 climbed 1.6% after a survey showed Americans drastically reduced their expectations for household income growth amid tighter monetary policy.
In India, retail inflation rose to the highest since November, led by a pick-up in food prices, on Monday after market hours. The Consumer Price Index inflation was at 6.52% in January 2023, compared to 5.72% in December 2022, according to data released by the Ministry of Statistics and Programme Implementation. A Bloomberg poll of 35 economists had estimated a reading of 6%.
At 6:04 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.39% at 17,859.
Meanwhile, the yield on 10-year Treasuries declined to 3.71%. Crude prices were trading at $86-mark, while Bitcoin was below $22,000-level.
Indian equity benchmarks declined in the first session of the week, as investors awaited inflation data and Asia trade was weak.
Rupee dipped 22 paise against the U.S. dollar amid a downtrend in domestic equities.
Stocks To Watch
Shree Renuka Sugars: The Company commenced commissioning activities of its expanded ethanol production capacity at Athani (from 300 KLPD to 450 KLPD) and at Munoli (from 120 KLPD to 500 KLPD).
Maruti Suzuki India/ South Indian Bank: The automobile major has signed an MoU with the bank to offer dealer finance options and customised auto retail financing solutions for customers.
HeidelbergCement India: The board approved the appointment of Joydeep Mukherjee as managing director of the company for a term of three years, effective April 1, 2023.
Earnings Fineprint
FSN E-Commerce Ventures Q3 FY23 (Consolidated, QoQ)
Revenue up 19% at Rs 1,462.82 crore
Ebitda up 28% at Rs 78.17 crore
Ebitda margin at 5.3% vs 5%
Net Profit up 99% at Rs 8.19 crore
Vijaya Diagnostics Q3 FY23 (Consolidated, YoY)
Revenue up 2% at Rs 113 crore (Bloomberg estimate: Rs 116 crore)
Ebitda down 7% at Rs 44 crore (Bloomberg estimate: Rs 45 crore)
Ebitda margin at 39.1% vs 43.2% (Bloomberg estimate: 39%)
Net profit down 35% at Rs 16 crore (Bloomberg estimate: Rs 20 crore)
Global Health Q3 FY23 (Consolidated, YoY)
Revenue up 19% at Rs 694 crore
Ebitda up 19% at Rs 163 crore
Ebitda margin at 23.4% vs 23.6%
Net profit up 15% at Rs 81 crore
Sun Pharma Advanced Research Co. Q3 FY23 (YoY)
Revenue up 1.1 times at Rs 131 crore
Ebitda at Rs 16 crore vs operating loss of Rs 11 crore
Ebitda margin at 12.3%
Net profit at Rs 10 crore vs net loss of Rs 16 crore
Steel Authority of India Q3 FY23 (Consolidated, YoY)
Revenues down 1% at Rs 25,042.10 crore vs Rs 25,246.99 crore
EBITDA down 38.9% at Rs 2,078.51 crore vs Rs 3,401.91 crore
EBITDA margin at 8.3% vs 13.5%
Net profit down 64.5% at Rs 542.18 crore vs Rs 1,528.54 crore
IRB Infrastructure Developers Q3 FY23 (Consolidated, YoY)
Revenue up 18% at Rs 1,514.14 crore
Ebitda up 0.8% at Rs 744.58 crore
Ebitda margin at 49.2% vs 57.7%
Net profit up 94.5% at Rs 141.36 crore
Q3 Earnings Results
Adani Enterprises, Apollo Hospitals Enterprise, Arvind Fashions, Aster DM Healthcare, Bata India, Bharat Forge, Biocon, Bosch, CESC, DB Realty, Eicher Motors, EID-Parry (India), Eureka Forbes, Gujarat Mineral Development Corporation, GMR Airports Infrastructure, Grasim Industries, Harsha Engineers International, HEG, Indiabulls Housing Finance, Ipca Laboratories, Jindal Poly Films, Jupiter Wagons, La Opala RG, Maithan Alloys, NBCC (India), National Highways Infra Trust, Nilkamal, NMDC, Oil And Natural Gas Corporation, PI Industries, Prestige Estates Projects, Radico Khaitan, Rajesh Exports, Raj Rayon Industries, Shyam Metalics And Energy, Siemens, SpiceJet, Swan Energy, TCNS Clothing Co., Techno Electric & Engineering Company, Torrent Power, Uflex
Bulk Deals
Coforge: Nomura India Investment Fund Mother Fund bought 6.10 lakh shares (0.99%), Kuwait Investment Authority bought 3.90 lakh shares (0.64%), Aditya Birla Sun Life Mutual Fund bought 3.46 lakh shares (0.56%), Hulst BV sold 60 lakh shares (9.82%) at Rs 4,050 apiece.
Dishman Carbogen Amcis: Anvil Wealth Management bought 11.96 lakh shares (0.76%) at Rs 99.44 apiece.
Who's Meeting Whom
Five-Star Business Finance: To meet investors and analysts on Feb. 14.
Radiant Cash Management Services: To meet investors and analysts on Feb. 14 and 15.
UltraTech Cement: To meet investors and analysts on Feb. 14.
AGM
Hindustan Construction Co., Siemens
Trading Tweaks
Ex-Date Interim Dividend: Gateway Distriparks, Hikal, KPR Mill, Mahanagar Gas, Wheels India, Sundaram Finance Holdings
Record Date Interim Dividend: Gateway Distriparks, Hikal, KPR Mill, Mahanagar Gas, Wheels India, Sundaram Finance Holdings
Move Out Of Short-Term ASM Framework: Apar Industries
Insider Trades
Savita Oil Technologies: Promoter and director Siddharth G Mehra bought 75,000 shares on Feb. 9.
Welspun Corp.: Promoter group Welspun Investments and Commercials bought 2.35 lakh shares on Feb. 10.
RPG Life Sciences: Promoter group Nucleus Trust bought 19,360 shares on Feb. 9.
Meghmani Organics: Promoter Ramesh Meghjibhai Patel bought 38,000 shares, promoter group Kalpanaben Rameshbhai Patel bought 40,000 shares on Feb. 13.
Gateway Distriparks: Promoter Perfect Communications bought 1.30 lakh shares on Feb. 10.
Arti Pharmalabs: Promoter group Manomaya Business Trust Alabhaya Trusteeship bought 4.39 lakh shares, promoter group Labdhi Business Trust Saswat Trusteeship bought 3.72 lakh shares between Feb. 9-10.
Pledge Shares Details
Gati: Promoter group TCI Finance invoked a pledge of 2.15 lakh shares on Feb. 9.
Ducon Infratechnologies: Promoter and director Arun Govil invoked a pledge of 1.76 crore shares on Jan. 16.
Money Market Update
Rupee closed 0.27% lower against the U.S. dollar at 82.72 on Monday, compared to Friday's close of 82.50
F&O Cues
Nifty February futures ended at 17,799, a discount of 78.05 points.
Nifty February futures rose 4.08% and 8,382 shares in Open Interest.
Nifty Bank February futures ended at 41,345.95, a discount of 289.80 points.
Nifty Bank February futures rose 8.82% and 7,969 shares in Open Interest.
Securities added to the ban period: Ambuja Cements, Indiabulls Housing Finance, Bharat Heavy Electricals, Punjab National Bank
Securities removed from the ban period: Nil
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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