Closing Bell
India's stock benchmarks logged their second best day in nearly two months, aided by gains in metals, capital goods, basic materials, as stocks held on to their gains after Finance Minister Nirmala Sitharaman presented budget 2022.
The S&P BSE Sensex rose 1.46% to 58,862.57. The 30-stock gauge added over 1,000 points to an intraday high of 59,032.20. The NSE Nifty 50 also advanced by similar magnitude to 17,576.85. The 50-stock gauge gained nearly 300 points to an intraday high of 17,622.40.
The broader indices underperformed their larger peers with both the S&P BSE MidCap and S&P BSE SmallCap rising 1%. Barring S&P BSE Telecom, S&P BSE Energy, S&P BSE Auto, S&P BSE Oil & Gas indices, all the other 15 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Metal adding nearly 5%.
The market breadth was skewed in the favour of bulls. About 1,762 stocks advanced, 1,585 declined and 102 remained unchanged.
"Despite a roller-coaster session, markets ended with solid gains, as investors cheered the government's focus on higher growth and capital expenditure boost in the Budget. The north-bound trend was also aided by overnight gains in the US market and a strong European markets trend in early trades", Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd. and added that "on daily charts, the market maintained an uptrend continuation formation and after a long time, it succeeded to close above the 50 day SMA which is broadly positive. For the day short-term traders, 17,400 and 17,250 would be key support levels to watch out for. Above the same, the Nifty would touch the level of 17,750-17,850. However, if the index slips below 17,500, a quick intraday correction could drag down the index up to 17,400-17,350 levels".
Cryptocurrencies, Virtual Digital Assets To Be Taxed At 30%
ITC, Godfrey Phillips India Gain As Government Leaves Taxes On Cigarettes Unchanged
Shares of Cigarette makers ITC and Godfrey Phillips India rose after India's budget did not propose any change in taxation of tobacco products, in a relief for the sector.
ITC is expected to see its EPS growing at 11%, with the stock attractively placed at 16.5 x price-to-earnings with a dividend yield of 5.5%.
Analysts expect ITC to report 6% YoY volume growth in FY23 with profits from tobacco sale rising 12% YoY.
Source: Bloomberg
FY23 Budget People-Friendly & Progressive, Says PM
Sun Pharmaceuticals Leads The Gain In Healthcare Stocks
'Government Has Delivered On The Demand For Infrastructure Spending Boost'
An increase in infrastructure spending has been a big demand by the industry and the Govt has delivered. Onus on the private sector to also push investments throughT V Narendran, CEO & Managing Director, Tata Steel
ECLGS Extended Till March 2023
Larsen & Toubro Jumps The Most In A Year
Shares of Larsen & Toubro advanced nearly 5% to Rs 1,999.9 apiece after the company stepped up the outlay for capital expenditure by 35.4% from Rs 5.54 lakh crore to Rs 7.50 lakh crore in 2022.23.
The increase in capital expenditure is expected to aid Larsen & Toubro, Cummins, SKF India, Bharat Forge and Honeywell Automation.
Besides the government's announcement to earmark 65% of capital for local procurement of defence systems and equipment.
Budget 2022: Winners & Losers
Also Read: Budget 2022 Stock Impact: Winners And Losers
Budget Broadly Along Expected Lines
Budget had three relatively mild surprises. The government hiking capex by 35-40% as opposed to expectation of 19%-20%. Found three mild surprises – capex jump, no extra tax on rich, and crypto tax at 30% FY23 fiscal deficit a believable number, math looks realisticSaurabh Mukherjea, Marcellus Investment Managers
Current Account Deficit after being in positive for last two years turned negative in FY22 and will turn further negative in FY23. Software exports and oil imports are nearly similar. In a year we can have a current account deficit but chances are we will make it over the next year or so.Prateek Agrawal, ASK Investment Managers
NSE Nifty FMCG Index Climbs Nearly 2%
Broader Indices Underperform Their Larger Peers
Tata Steel, Jindal Steel & Power Lead The Gains In Nifty Metal Index
Sensex, Nifty Near Day's High
Budget 2022: FM's Capital Expenditure Up By 35.4%
Budget 2022: FM Nirmala Sitharaman Lays Out India's 5G Rollout Plan
Analyst Actions: Dr. Reddy's
Dr. Reddy's raised to 'buy' from 'accumulate' at KR Choksey; price target set at Rs 5,261.
Source: Bloomberg
Chemical Stocks In Focus As Government Cuts Import Duty On Acetic Acid, Methanol & Sodium Cyanide
Shares of Gujarat Narmada Valley Fertilisers & Chemicals fell over 3%, the steepest intraday decline in over a week to Rs 455.1 apiece after the government announced that it would reduce customs duty on certain critical chemicals namely methanol, acetic acid and heavy feed stocks for petroleum refining.
The reduction of custom duty on acetic acid has led to the decline of Gujarat Narmada Valley Fertilisers & Chemicals shares as it is the leading producer of acetic acid in India.
On the flipside, shares of Alkyl Amines and Balaji Amines rose after the budget announcement as they use acetic acid as a raw material for the synthesis of acetonitrile and methyl amines, before paring the gains.
Grasim, SRF Industries, Gujarat Alkalies, Meghmani Organics also would benefit from the custom duty cut as they use methanol as a raw material for the manufacture of chloromethanes.
Similarly Atul Industries also uses acetic acid for mono chloro acetic acid production and hence this move would be a positive for the company.
The other chemical companies in focus are Thirumalai and IGPL, which stand to benefit from custom duty cut from 10% to 0% for orthoxylene; Supreme Petro and Ineos Styrolution, which rose after the custom duty reduction from 10% to 2% on Styrene.
Finolex also rose due to the import duty cut on EDC and import duty reduction on VCM. Both these chemicals are raw materials used the manufacture of PVC Resin.
Duty is being raised on sodium cyanide for which adequate domestic capacity exists. The changes are aided at enhancing domestic value addition.
SC Asks Future Retail's Lenders Reasons For Their Opposition To Firm's Petition Against Possible NPA Classification
Supreme Court asks lenders of Future Retail to detail their opposition to the company’s petition against possible NPA classification.
Supreme Court has asked the 27 banks which have been made party to Future’s petition to file a short affidavit within two days.
The top court will next take up the case after the replies from the banks are filed.
In its petition, Future Retail challenged the event of default notice by its lenders.
The 30-day grace period for clearing the dues expired on January 29.
The next logical step is classification as NPA and an application for initiating insolvency, Future Retail told the Supreme Court.
TVS Motor Sales Rise 6.3% in January
December : 2,50,933 units
January : 2,66,788 units
Rise: 6.3% units
Source: Company statement
Maruti Suzuki's Total Sales Rise 0.80% In January
December : 1,53,149
January : 1,54,379
Rise : 0.80%
Source: Company statement
European Markets Open Higher
India To Remove Anti-Dumping Duty On Some Steel Products
India will remove anti-dumping duties on some steel products including stainless steel, in a bid to curb high prices of the metal, according to the country's annual budget presented by finance minister Nirmala Sitharaman on Tuesday.
It also said it won't tax steel scrap imports for another year to aid smaller manufacturers.
Source: Bloomberg
Market Experts On Union Budget
Budget is on 'A I M': Agriculture, Infrastructure, Mobilisation of Funds
Rs 7.5 lakh crore allocated for capex program
Rs 2.7 lakh crore for MSP payments
PPP for funding capex program
Budget is simply direction provider to India at 100 years, This will have the power to attract lots of foreign capital in the country.
Deven Choksey, Managing Director, KRChoksey Holdings
Paytm, Policybazaar Shares Rise As India Focuses On Digital Inclusion
Shares of digital financial services providers in India gain as the federal budget focuses on expanding such services.
PB Fintech, the parent of PolicyBazaar, a platform for online financial services, gains as much as 8.6%
Shares of Paytm’s owner One 97 Communications surge 6.6%; eClerx 4.1%
Paisalo Digital, which provides smaller loans through its app, gains as much as 17%
Source: Bloomberg
Metal, Cement Stocks Gain As India Plans Higher Infra Spending
Shares of metals, cement, road builders, piped water and logistics rose on the back of government's proposals focussing on these sectors.
Allocation of Rs 48,000 crore for housing projects aided cement makers while proposal to start new trains aided the surge in steel and stainless steel makers.
Fabrication firm Schaeffler India, Timken India, pipe-maker APL Apollo Tubes rises as much as 2.6% and VA Tech Wabag also advanced.
Source: Bloomberg
Mid-Day Market Update: Sensex, Nifty Advance; Banks, Metals Lead Advance
India's stock benchmarks rose as Finance Minister presented the union budget, aided by gains in metal and banking stocks.
The S&P BSE Sensex rose 1.67% to 59,016.59. The NSE Nifty 50 advanced by similar magnitude to 17,606.80.
The broader indices underperformed their larger peers with S&P BSE MidCap shedding 0.6% and S&P BSE SmallCap slipping 0.72%. Barring S&P BSE Auto and S&P BSE Oil & Gas indices, all the other 17 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Metal index gaining nearly 2.5%.
The market breadth was skewed in the favour of bulls. About 1,710 stocks advanced, 1,533 declined and 105 remained unchanged.
India To Launch Central Bank Digital Currency Next Fiscal Year
India plans to launch a central bank digital currency in the financial year starting in April, Finance Minister Nirmala Sitharaman said in her budget speech.
The digital rupee will help to usher in cheaper, more efficient currency management, Sitharaman said Tuesday. The Reserve Bank of India has been working on a phased implementation strategy for its digital currency, which could reduce dependency on cash.
India’s move comes after China already began CBDC trials in several cities, while the U.S. Federal Reserve and Bank of England are looking into possibilities for their economies.
Source: Bloomberg
Sensex Reclaims 59,000 In Intraday Trade
Bonds Yields Jump On Higher FY23 Fiscal Deficit Target
Indian government bonds slide after Finance Minister Nirmala Sitharaman announced a higher-than-expected fiscal deficit for the financial year ending March 2023.
Benchmark 10-year yields rise 7bps to 6.75%.
The rupee trims gains; up 0.1% to 74.57/USD.
India is estimating a fiscal deficit at 6.4% of GDP in the next fiscal year, higher than 6.1% estimated in a Bloomberg survey
Source: Bloomberg
Tejas Networks, HFCL Lead Gains In Telecom Stocks On Plan For 5G Network
Telecom infrastructure providers HFCL, Tejas Networks gain as Finance Minister Nirmala Sitharaman announces plan for 5G rollout.
India to auction 5G spectrum in 2022, Nirmala Sitharaman announced during presentation of federal budget in India’s Parliament.
Source: Bloomberg
India To Spend Rs 19,500 Crore In PLI For Solar Modules
India plans solar spending amid climate change threat.
India plans additional allocation of Rs 19,500 crore in PLI for solar modules.
Nirmala Sitharaman, Finance Minister
Exide, Amara Raja Climb As FM Announces Plans To Introduce Battery Sweeping Policy
Shares of battery makers gain as the federal budget proposes introducing battery swapping policy.
Finance Minister announces plans to promote clean technology in public transport.
Source: Bloomberg
Logistics Stocks Gain As Government Plans To Boost Transport
IRCTC Surges As Government Plans To Start New Trains
Shares of IRCTC Ltd. rose nearly 4% after Finance Minister Nirmala Sitharaman proposed to start 400 new 'Vande Bharat' trains in three years.
Rail, post to work together on logistics.
Source: Bloomberg
Road Builders Surge As India Plans Higher Spending On Highways
Shares of road builders like Dilip Buildcon, PNC Infratech, Ashoka Buildcon and KNR Constructions climbed as Finance Minister announced plans to increase spending to expand highways network by 25,000 km in 2022-23.
Logistics, infrastructure are key areas of focus, says Finance Minister.
Source: Bloomberg
ECLGS Scheme To Be Extended To March 2023, Says Finance Minister
ECLGS Scheme to be extended to March 2023.
ECLGS Scheme to have Rs 5 lakh crore total cover.
Nirmala Sitharaman, Finance Minister
FM Announces Parvat Mala Project
Finance Minister Nirmala Sitharaman announced a project named Parvat Mala.
The projects aims to build roads and highways in India's mountainous region stretching from north to north eastern India, that also borders China.
Shipping Corp Jumps Over 10% As FM Highlights Privatisation Efforts
LIC IPO Listing Process Is Expected To Be Completed Shortly, Says FM Nirmala Sitharaman
Goals For ‘India at 100’: Complementing macro-growth with micro-all-inclusive welfare, digital economy and fintech, tech-enabled development, energy transition and climate action
Transferring of ownership of Air India has been completed
LIC IPO listing process is expected to be completed shortly
PLI Schemes in 14 sectors have received with potential to create 60 lakh new jobs, and additional new production of Rs 30 lakh crore
Public issue of LIC shortly, others too are in the process for FY23
Budget 2022: Key Highlights So Far
FY22 real GDP growth estimated at 9.2%
Sharp rebound and recovery in our economy reflects India’s strong resilience
India in strong position to withstand challenges, will continue journey with strong growth
Confident that with ‘sab ka prayas’ we will continue our journey towards economic recovery
Nirmala Sitharaman, Finance Minister
FM: Budget Aim To Steer Economy Over 25 Years
Budget 2022 Live Updates
India Yields Mostly Lower
Most yields along the India sovereign yield curve fell, with 10-year bonds moving the most in Tuesday session.
The 5-year yield fell 0.8bps to 5.881%
The 10-year yield fell 3.1bps to 6.652%
The 18-year yield remained unchanged at 7.133%
The 5-year-10-year yield spread was 77.1bps vs previous close 79.4bps.
Source: Bloomberg
Alembic Pharma Gets U.S. FDA Nod For Clarithromycin Tablets; Shares Advance
Shares of Alembic Pharmaceuticals Ltd. rose over 1.3% after the company announced it has received final approval for the U.S. FDA for its Abbreviated New Drug Application for Clarithromycin tablets USP, 250 mg and 500 mg.
Clarithromycin tablets is used to treat infections caused due to acute bacterial exacerbation of chronic bronchitis in adults; acute maxillary sinusitis, community-acquried pneumonia and duodenal ulcer disease in adults among others.
The tablets have an estimated market size of $11 million for twelve months ending September 2021, according to IQVIA.
Of the 18 analysts tracking the company, seven maintained 'buy', seven maintained 'hold' and four maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 11.6%
Source: Exchange Filing, Bloomberg
Rupee Gains, Bonds Steady Ahead Of Budget
Indian bonds trade steady and rupee edged higher as traders await the budget for the fiscal deficit and borrowing numbers. They are also on the lookout to see if capital gains tax on bonds is scrapped.
USD/INR falls 0.1% to 74.56.
10-year yields down 1bp at 6.67%. The yields fell 7bps on Monday after government switched Rs 1.19 lakh crore of bonds with RBI, raising hopes of lower gross borrowings.
Finance Minister Nirmala Sitharaman to start budget speech at 11 a.m.
Source: Bloomberg
NTPC Has 1.01 Million Shares Change Hands In A Large Trade
NTPC has 1.01 million shares change hands in a large trade.
Details of buyers, sellers are not known immediately.
Source: Bloomberg
Manufacturing PMI Falls In January But Remains In Expansion Mode
Manufacturing PMI falls to 54 in January 2022 from 55.5 in December 2021.
Source: IHS Markit
State-Run Refiners Fall After Q3 Profit Misses Estimate
Shares of Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. fell after the Q3 results lagged estimates due to rising costs.
The state-run refiners are among the worst performers on NSE Nifty 100 index.
This is the steepest intraday decline for Indian Oil and HPCL since Jan. 21.
This is the steepest intraday decline for BPCL since Dec. 20
Source: Bloomberg
Tata Motors Declines The Most In Over A Week On Q3 Miss
Shares of Tata Motors Ltd. fell as much as 3.7%, the steepest intraday decline in over a week, to Rs 498.65 apiece after the company posted a net loss for the third quarter. The company reported revenue that missed average analyst estimate.
Tata Motors Q3FY22 (Consolidated, YoY)
Revenue down 5% at Rs 72,229.29 crore Vs Rs 75,653.79 crore (Bloomberg estimate: Rs 72,679.97 crore)
Net loss of Rs 1,516.14 crore Vs Net profit of Rs 2,906.45 crore (Bloomberg estimate: Rs 988.9 crore)
Ebitda down 42% at Rs 7,078 crore Vs Rs 12,132.7 crore (Bloomberg estimate: Rs 6,791.20 crore)
Margin at 9.8% Vs 16%
Analysts cited the prevailing raw material cost pressure in CV business, uncertainty over the semiconductor shortage as key challenges facing the company.
They also believe that a prolonged delay in JLR's deleveraging plan could adversely impact the company's aggressive EV strategy. With the chip shortage expect to persist till the second half of 2022, analysts expect the volumes to surge and margins to expand gradually as the disruption due to chip shortages eases.
Of the 33 analysts tracking the company, 25 maintained 'buy', four maintained 'hold' and four maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 9.9%.
Trading volume on the stock was nearly three times the 30-day average volume at this time of the day.
Source: Exchange Filing, Bloomberg, Brokerage note
Sensex, Nifty Add Over 1%; Banking Stocks Lead Advance
Bajaj Auto Total Sales Rise 0.3% In January
December : 3,62,470
January : 3,63,443
Rise : 0.3%
Source : Exchange filing
Escorts Total Sales Jump 21.5% In January
December : 4,695 units
January: 5,707 units
Rise : 21.5%
Source : Exchange filing
Navin Fluorine Jumps On Q3 Beat
Shares of Navin Fluorine International Ltd. rose 7.45%, the biggest intraday rise in this week, after the company reported net income for the third quarter that beat the average analyst estimate.
Third Quarter Results (Consolidated)
Net income up 17% YoY to Rs 68.79 crore vs Bloomberg consensus estimate of Rs 60.28 crore
Revenue up 22% YoY to Rs 378.95 crore vs estimate of Rs 320 crore
Total costs up 22% YoY at Rs 292.87 crore
Other income at Rs 7.48 crore vs Rs 11.20 crore YoY
Ebitda up 25% YoY to Rs 99 crore
Margin remains flat at 26%
Of the 23 analysts tracking the company, 12 maintained 'buy', six maintained 'hold' and five maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied a downside of 6.6%. Trading volume on the stock was nearly nine times the 30-day average volume at this time of the day.
Source: Exchange Filing, Bloomberg
Opening Bell: Sensex, Nifty Open Higher Ahead Of Budget 2022
India's stock benchmarks opened higher, ahead of federal budget due to be presented in the parliament by Finance Minister Nirmala Sitharaman at 11 a.m., aided by information technology, banking, metal and realty stocks. The rise comes amid rebound in global equities due to positive spillover effects from the technology-led rally in the U.S.
The S&P BSE Sensex rose nearly 1% to 58,548.31. The NSE Nifty 50 also advanced by similar magnitude to 17,488.05.
The S&P BSE MidCap underperformed its larger peers with gains of 0.4% while the S&P BSE SmallCap almost mirrored the Sensex and Nifty. Barring S&P BSE Oil & Gas, all the other 18 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Information Technology adding 1.2%.
The market breadth was skewed in the favour of bulls. About 1,779 stocks advanced, 656 declined and 87 remained unchanged.
GST Collections Exceeds Rs 1 Lakh Crore For Seventh Month
Budget 2022: Government Likely To Target Modest Fiscal Consolidation In FY23
How The Government Fared On Key Promises From Housing To Power
Budget 2022: Salaried Taxpayers' Wishlist
DLF Has 1.95 Million Shares Change Hands In A Block Trade
DLF Ltd. has 1.95 million shares change hands in a block trade.
Details of buyers, sellers are not known immediately.
Source: Bloomberg
Zomato Buys 19.48% Stake In Adonmo For Rs 112.21 Crore & 5% Stake In UrbanPiper For Rs 37.39 Crore
Zomato has completed the acquisition of 11,214 compulsorily convertible preference shares and 10 equity shares collectively aggregating to 19.48% of the share capital of Adonmo Pvt Ltd. for Rs 112.21 crore approximately.
The company also acquired 1,259 compulsorily convertible preference shares and one equity shares collectively aggregating to 5% of the share capital of UrbanPiper Technology Pvt Ltd, for Rs 37.39 crore, on Monday.
The company had intimated these proposed acquisitions in an exchange filing on Thursday.
Source: Exchange Filing
Here's What To Expect From Today's Trading Session
The Economic Survey FY22, tabled in the Parliament by Finance Minister has projected India's growth for FY23 at 8-8.5%. The FY22 GDP growth is seen at 9.2%. The markets are likely to see gap up opening today, and likely to follow huge volatility thought out the day based on Budget announcements.Mitul Shah, Head of Research, Reliance Securities
Trade Setup For Feb. 1
In Focus: Tourism-Linked Stocks In India As Key State Eases Curbs
Shares of hotel, movie theatre and mall operators will be in focus after Maharashtra after Mumbai further eased covid-19 restrictions.
Maharashtra allowed reopening of tourism-related activities as well as permitted amusement parks, swimming pools to operate with 50% capacity.
In focus: Amusement park operator Imagicaaworld Entertainment, hotel stocks like Indian Hotels, EIH, Lemon Tree Hotels, Chalet Hotels, Mahindra Holidays, tour operators like Thomas Cook, Easy Trip besides PVR, Inox Leisure, Phoenix Mills.
Source: Bloomberg
Rupee Traders Await Budget For Borrowing
Indian bond traders are waiting on the federal budget for the next fiscal deficit and borrowing numbers. They are also awaiting to see if capital gains tax on bonds is scrapped to facilitate transactions on offshore platforms.
Government is expected to announce bond sales of Rs 13 lakh crore ($174 billion) in the fiscal year starting April, about 8% more than the current period, according to a survey of 18 traders and economists.
Net borrowing in the next fiscal year is estimated at Rs 9.4 lakh crore, according to the survey.
USD/INR fell 0.6% to 74.6225 on Monday.
10-year yields fell 7bps to 6.68% on Monday after the government switched Rs 1.19 lakh crore of bonds with RBI, raising hopes of lower gross borrowings.
Overseas investors sold Rs 3,620 crore of stocks on Monday.
They sold Rs 13 crore of sovereign bonds under limits available to foreign investors, and withdrew Rs 201 crore of corporate debt.
State-run banks sold Rs 1,090 crore of sovereign bonds on Jan. 31: CCIL data. Foreign banks sold Rs 838 crore of bonds.
Source: Bloomberg
Top Gainers & Losers In Nifty Midcap 100 & Nifty Smallcap 100 Indices
Highlights From Economic Survey 2022
Budget 2022: What Brokerages Expect
Metal, PSU Bank, Realty Indices Lead Sectoral Gains Since Feb. 1, 2021
Sensex Top Gainers & Losers Since Budget 2021
Analyst Actions: Sun Pharmaceuticals, Century Ply, Equitas Holdings
Sun Pharmaceuticals raised to 'neutral' from 'underperform' at Credit Suisse; price target set at Rs 810.
Century Plyboards raised to 'buy' from 'hold' at BOB Capital Markets; price target set at Rs 735.
Equitas Holdings: Nirmal Bang initiated coverage of the stock with a recommendation of 'buy'; price target set at Rs 73.
Source: Bloomberg
Sensex, Nifty Add Over 25% Since Budget 2021
Nifty 50 Top Gainers & Losers Since Budget 2021
SGX Nifty Hints At 1% Opening Gains; Tata Steel, HPCL, BPCL, Gail, DLF In Focus
Finance Minister Nirmala Sitharaman will present the federal budget in parliament at 11 a.m.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, rose nearly 1% to 17,512.50 as of 7:50 a.m.
Asian stocks on Tuesday rose, aided by spillover effects from the technology-led rally in the U.S. spurred by dip buyers.
Shares advanced in Japan and Australia. Several Asian markets including China and South Korea are shut for the Lunar New Year holiday.
U.S. futures fell after S&P 500 and Nasdaq 100 logged the best two-day jump since April and November 2020, respectively.
Elsewhere, oil extended a climb having posted its biggest January gain in at least 30 years. Bitcoin traded in the vicinity of $38,300.
Post Market Hour Earnings
Tata Motors Q3FY22 (Consolidated, YoY)
Revenue down 5% at Rs 72,229.29 crore Vs Rs 75,653.79 crore (Bloomberg estimate: Rs 72,679.97 crore)
Net loss of Rs 1,516.14 crore Vs Net profit of Rs 2,906.45 crore (Bloomberg estimate: Rs 988.9 crore)
Ebitda down 42% at Rs 7,078 crore Vs Rs 12,132.7 crore (Bloomberg estimate: Rs 6,791.20 crore)
Margin at 9.8% Vs 16%
Hindustan Petroleum Corporation Ltd Q3FY22 (Standalone, YoY)
Revenues up 40.7% at Rs 96,602.37 crore Vs Rs 68,659.21 crore (Bloomberg estimate: Rs 1,03,000 crore)
Net profit down 63.1% at Rs 868.86 crore Vs Rs 2,354.64 crore (Bloomberg estimate: Rs 2,543.6 crore)
Ebitda down 43.3% at Rs 1,870.72 crore Vs Rs 3,301.52 crore (Bloomberg estimate: Rs 4,039.7 crore)
Margin at 1.9% Vs 4.8% (Bloomberg estimate: 3.9%)
Indian Oil Corporation Ltd Q3FY22 (Standalone, YoY)
Revenues up 57% at Rs 1,66,788.16 crore Vs Rs 1,06,202.27 crore (Bloomberg estimate: Rs 1,60,000 crore)
Net profit up 19.2% at Rs 5,860.8 crore Vs Rs 4,916.59 crore (Bloomberg estimate: Rs 6,769.7 crore)
Ebitda up 2.6% at Rs 9,862.11 crore Vs Rs 9,613.7 crore (Bloomberg estimate: Rs 12,445 crore)
Margin at 5.9% Vs 9.1% (Bloomberg estimate: 7.8%)
DLF Q3FY22 (Consolidated, YoY)
Revenue at Rs 1,549.70 crore Vs Rs 1,543.03 crore
Net profit down 16% at Rs 379.48 crore Vs Rs 451.18 crore
Ebitda up 4% at Rs 521.32 crore Vs Rs 499.08 crore
Margin at 33.6% Vs 32.3%
Shipping Corporation of India Q3FY22 (Consolidated, YoY)
Revenue up 71% at Rs 1,438.23 crore Vs Rs 841.23 crore
Net profit at Rs 311.54 crore Vs Rs 131.57 crore
Ebitda at Rs 472.13 crore Vs Rs 225.65 crore
Margin at 32.8% Vs 26.8%
UCO Bank Q3FY22 (Consolidated, YoY)
NII up 25% at Rs 1,762.61 crore Vs Rs 1,407.16 crore (YoY)
Net profit at Rs 310.39 crore Vs Rs 35.44 crore (YoY)
GNPA at 8% Vs 8.98% (QoQ)
NNPA at 2.81% Vs 3.37%(QoQ)
Provisions at Rs 548.61 crore Vs Rs 1,018.62 crore (QoQ)
Stocks To Watch
Gail: The company commenced India's first-of-it's-kind project of mixing hydrogen into natural gas system at Indore, Madhya Pradesh.
BPCL: The company declared second interim dividend of Rs 5 per share.
SBI: The company entered into an agreement with Tata Power Solar Systems for financing solar projects to launch a centralized processing cell - ‘Surya Shakti Cell.’ It will process all the loan applications for Solar Projects (capacity up to 1 MW) sourced from across India, for installation by business entities and households.
Tata Steel Long Products: The company won the bid to acquire a 93.71% equity stake in the Neelachal Ispat Nigam Limited for a total consideration of Rs 12,100 crore.
NTPC: The company’s subsidiary NTPC Vidyut Vyapar Nigam has acquired d 5% equity stake in the Power Exchange of India.
CSB: The bank revised Overnight Marginal Cost of Funds Based Lending Rates from 7.5% to 7.6% from Feb. 1
Edelweiss Financial Services: The company appointed Ananya Suneja as Chief Financial Officer effective from March 1, 2022 in place of Sarju Simaria who will move to a new role. The company also been allotted 20,00,00,000 equity shares of Rs. 10 each of Edelweiss Tokio Life Insurance increasing company’s stake from 51% to 66%.
Orient Cement: The company entered into share purchase, subscription and shareholder’s agreement with AMPSolar Technology and AMPSolar Systems for the acquisition of 26% stake in AMPSolar Systems for putting up the solar power plant with capacity of 13.5 MW, under Captive Scheme.
DB Realty: The company will consider the proposal for raising of funds by way of Private Placement / Preferential Issue of Convertible Warrants/ Equity Shares / other equity linked Securities on Feb. 3.
Mahanagar Gas: The company will consider declaration of dividend on Feb. 8.
Jet Freight: The company’s subsidiary Jet Freight Express began operations of its last-mile delivery via Electric Vehicle in an exclusive contract with several e-commerce companies. Jet Freight plans to include more electric vehicles to serve multinational companies.
Emami: The company will consider second interim dividend and proposal of buy back of the fully paid-up equity shares on Feb. 3.
Ansal Housing: The company has defaulted on the interest payment of Rs 16 lakh as on Dec. 31.
Shriram EPC: The company has defaulted on the loan payment of Rs 339.16 crore as on Dec. 31.
Aarti Industries: The company will consider the declaration of dividend on Feb. 5.
Earnings To Watch
Adani Ports And Special Economic Zone
Tech Mahindra
Procter & Gamble Hygiene & Health Care
Cholamandalam Investment and Finance Company
Poonawalla Fincorp
Sona BLW Precision Forgings
Kansai Nerolac Paints
Laxmi Organic Industries
Elecon Engineering Co
Gujarat Ambuja Exports
Prism Johnson
Cantabil Retail India
Goodyear India
IFB Industries
Indian Hotels Co
Indoco Remedies
Jubilant Ingrevia
Mangalore Chemicals & Fertilizers
TTK Prestige
VIP Industries
Neuland Laboratories
Oriental Carbon & Chemicals
Sutlej Textiles & Industries
Triveni Turbine
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