Stock Market Today: All You Need To Know Going Into Trade On Feb. 7

Asian markets open cautiously after the U.S. stocks gave back some of this year’s gains amid bets that the Federal Reserve will keep a firm grip on monetary policy.

Australian stocks opened slightly lower, while shares in Japan and Hong Kong were little changed. The U.S. equities came off overbought levels, with the S&P 500 and the tech-heavy Nasdaq 100 finishing lower. The U.S.-listed Chinese companies fell, with the Nasdaq Golden Dragon Index dropping to the lowest in more than two weeks.

At 6:05 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.25% at 17,806.

Meanwhile, the yield on 10-year Treasuries was at 3.63%. Crude price traded at the $80-mark, while Bitcoin was trading just below $23,000-level.

Indian benchmark indices ended lower on Monday as I.T. and metal stocks dragged through the day.

Rupee closed lower against the U.S. dollar amid forex outflows and a stronger greenback in the foreign markets.

Overseas investors in Indian equities remained net sellers for the third day in a row on Monday. Foreign portfolio investors offloaded equities worth Rs 1,218.14 crore, while domestic institutional investors mopped up stocks worth Rs 1,203.09 crore for the 11th day in a row.

• Grasim Industries: The board appointed Ananyashree Birla and Aryaman Birla, children of group chairman Kumar Mangalam Birla, as non-executive directors, and Yazdi Piroj Dandiwala as an independent director.

• UltraTech Cement: The company commissioned 1.5 mpta brownfield cement grinding unit at Jharsuguda, Odisha, taking its total cement capacity in the state to 4.1 mtpa.

• Vakrangee: RBI renewed the authorisation issued to the company to setup, own and operate white label ATMs in India till March 31, 2024.

• Hindalco: Novelis, a subsidiary of the company, reported 95% decline year-on-year in consolidated profit attributable to common shareholders at $12 million. Net sales of the company decreased 3% on-year to $4.2 billion.

• HCL Technologies: HCL America, a wholly owned step-down subsidiary of the company, proposed a cash tender offer for up to $125 million of its $500 million 1.375% senior notes that were issued with a maturity date of March 2026.

• UPL: Life Insurance Corporation of India has reduced its shareholding in the company to 7.23% from 9.25%.

Tata Steel Q3 FY23 (Consolidated, YoY)

• Revenues down 5.73% at Rs 57,354.16 crore (Bloomberg estimate: Rs 56,689.92 crore)

• Ebitda down 72.93% at Rs 4,318.44 crore (Bloomberg estimate: Rs 5,958.78 crore)

• Ebitda margin at 7.53% vs 26.22% (Bloomberg estimate: 10.5%)

• Net loss of Rs 2,223.84 crore vs net profit of Rs 9,572.67 crore (Bloomberg estimate: Rs 1,699.05 crore profit)

• The surprise loss was on account of a non-cash deferred tax outgo and higher raw material costs.

Adani Transmission Q3 FY23 (Consolidated, YoY)

• Revenues up 21.98% at Rs 3,551.7 crore (Bloomberg estimate: Rs 3,497.8 crore)

• Ebitda up 64.01% at Rs 1,477.54 crore (Bloomberg estimate: Rs 1,441.9 crore)

• Ebitda margin at 41.6% vs 30.94% (Bloomberg estimate: 41.2%)

• Net profit up 72.79% at Rs 478.07 crore (Bloomberg estimate: Rs 313.7 crore)

LIC Housing Finance Q3 FY23

• Net profit down 37% at Rs 480.30 crore (YoY)

• NII up 10% at Rs 1,605.87 crore (YoY)

• Gross NPA at 4.76% vs 4.91% (QoQ)

• Net NPA at 2.4% vs 2.83% (QoQ)

Muthoot Finance Q3 FY23

• NII down 10% at Rs 1,704.27 crore (YoY)

• Net profit down 12% at Rs 901.65 crore (YoY)

• Loan AUM up 6% at Rs 57,731 crore (YoY)

Bharti Airtel, Chambal Fertilisers & Chemicals, Adani Ports and SEZ, Kalyan Jewellers India, Ambuja Cements, EPL, Aditya Birla Fashion and Retail, Gujarat State Fertilizers & Chemicals, Thermax, NHPC, Deepak Nitrite, The Ramco Cements, Motherson Sumi Wiring India, Varroc Engineering, Gujarat Fluorochemicals, Astral, Bayer Cropscience, Power Mech Projects, GlaxoSmithKline Pharmaceuticals, Century Plyborads, Sobha, Bharat Dynamics, The Phoenix Mills, CreditAccess Grameen, Somany Ceramics, Prince Pipes & Fittings, IOL Chemicals & Pharmaceuticals, Navin Fluorine International, Mrs Bectors Food Specialities, Barbeque Nation Hospitality, Computer Age Management Services, Adani Green Energy, Hero MotoCorp, Gujarat Narmada Valley Fertilizers & Chemicals, Gujarat Alkalies & Chemicals, IRB InvIT Fund, NDTV, Panasonic Energy India Company, Cantabil Retail India, Eveready Industries India, India Tourism Development Coprporation, Elpro International, Everest Industries, Foseco India, J Kumar Infraprojects, Kirloskar Ferrous Industries, Prakash Industries, Rashtriya Chemicals & Fertilizers, Rolex Rings, Keystone Realtors, Shivalik Bimetal Controls, Sunflag Iron & Steel, Tilaknagar Industries, TTK Healthcare, Vadilal Industries, Wonderla Holidays, Yasho Industries

• TV Today Network: Seetha Kumari sold 6.76 shares (1.13%) at Rs 302.31 apiece.

• Mahindra Logistics: To meet investors and analysts on Feb. 8.

• CMS Info Systems: To meet investors and analyst on Feb. 7 and Feb. 14.

• Motherson Sumi Wiring India: To meet investors and analyst between Feb. 9-16.

• Dixon Technologies: To meet investors and analyst on Feb. 7-8.

• Kirloskar Pneumatic Company: To meet investors and analyst on Feb. 8.

• GMM Pfaudler: To meet investors and analyst between Feb 6-28.

• Shankara Building Product: To meet investors and analyst on Feb. 9.

• Crompton Greaves Consumer Electricals: To meet investors and analyst on Feb. 7.

• Metro Brands: To meet investors and analyst on Feb. 8.

• Mold-Tek Packaging: To meet investors and analyst on Feb. 7.

• Tech Mahindra: To meet investors and analyst on Feb. 8-9.

• Asian Paints: To meet investors and analyst between Feb. 7-10.

• Meghmani Finechem: To meet investors and analyst on Feb. 7-8.

• Price Band Revised From 10% To 5%: Adani Transmission

• Price Band Revised From 10% To 20%: Axita Cotton, Fino Payments, Just Dial, Southern Petrochemicals Industries Corporation, Sterling and Wilson Renewable Energy, Tata Investments Corporation, UCO Bank, Max Ventures and Industries, Macrotech Developers, Genesys International Corporation, Optiemus Infracom, GRM Overseas, Sindhu Trade Links, Jaiprakash Associates, Dhani Services, Repco Home Finance, Skipper, Polo Queen Industrial and Fintech, Fino Payments Bank

• Price Band Revised From 5% To 10%: Bajaj Hindusthan Sugar, Central Bank of India, Inox Wind Energy, Reliance Infrastructure, Reliance Power, Salasar Techno Engineering, Spandana Sphoorty Financial, SEPC, Titagarh Wagons, Tata Teleservices (Maharashtra), Sadhana Nitro Chem, Tilaknagar Industries, Media Matrix Worldwide, Lloyds Metals and Energy, Kingfa Science & Technology (India), Moschip Technologies, RattanIndia Power, Waaree Renewable Technologies, PTC Industries, Bikaji Foods International, Orissa Minerals Development Company

• Price Band Revised 5% to 20%: Punjab & Sind Bank, Rail Vikas Nigam, Imagicaaworld Entertainment, Patel Engineering, Central Bank of India, BF Investment, PTC India Financial Services, Bigbloc Construction, GMR Power and Urban Infra

• Ex-Date Interim Dividend: Apcotex Industries, Indraprashtha Gas, IIFL Finance, Kirloskar Pneumatic Company, Route Mobile, Sharda Cropchem, SRF, Transport Corporation of India

• Record Date Interim Dividend: Apcotex Industries, Indraprashtha Gas, IIFL Finance, Kirloskar Pneumatic Company, Route Mobile, Sharda Cropchem, SRF, Transport Corporation of India

• Rupee closed 1.10% lower against the U.S. dollar at 82.74 on Monday, compared to Friday’s close of 81.84.

• Nifty February futures ended at 17,795, a discount of 107.15 points.

• Nifty February futures rose 3.23% and 6,471 shares in Open Interest.

• Nifty Bank February futures ended at 41,485, a discount of 153.25 points.

• Nifty Bank February futures rose 9.07% and 8,253 shares in Open Interest.

• Securities added to the ban period: Adani Ports and Special Economic Zone

• 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.