Markets in Australia were trading in red as investors await for the policy decision from the Reserve Bank of Australia on Tuesday.
The S&P ASX 200 was 103.10 points or 1.34% lower at 7,596.30 as of 06:13 a.m.. The KOSPI was 34.07 points or 1.30% down at 2,581.24.
However, share indices in Japan was trading higher with the Nikkei 225 trading 177.24 points or 0.49% higher at 36,335.26.
The U.S. stock market extended the week’s gains amid a rally in big tech and a solid jobs report bolstered the outlook for corporate America.
Equities continued to show resilience near their all-time highs, with the S&P 500 topping 4,900. The tech-heavy Nasdaq 100 climbed 1% thanks to bullish outlook from two megacaps: Meta and Amazon.
Brent crude was trading 0.43% up at $77.66 a barrel. Gold also traded 0.23% lower at $2,035.04 an ounce.
India's benchmark stock indices ended the budget week higher on Friday, led by gains in IT companies and index heavyweight Reliance Industries Ltd.
The Nifty breached 22,000 for the first time since Jan. 16 to hit a fresh record high but was unable to hold on to a bout of profit booking. The Sensex increased by as much as 2.02%, coming close to its all-time high, but it fell in late trade due to losses at Axis Bank Ltd. and HDFC Bank Ltd.
On a weekly basis, the indices snapped two straight weeks of losses to end higher.
The Nifty closed 156.35 points, or 0.72%, higher at 21,853.80, while the Sensex gained 440.34 points, or 0.6%, to end at 72,085.63.
Overseas investors became net buyers of Indian equities after a day. Foreign portfolio investors mopped up stocks worth Rs 70.7 crore, while domestic institutional investors remained net buyers and purchased equities worth Rs 2,463.2 crore, the NSE data showed.
The Indian rupee strengthened 5 paise to close at Rs 82.93 against the U.S. dollar.
Earnings Post Market Hours
Tata Motors Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 25% to Rs 1.11 lakh crore vs Rs 88,489 crore (Bloomberg estimate: Rs 1,08,517 crore).
Ebitda up 59% to Rs 15,333 crore vs Rs 9,643 crore (Bloomberg estimate: Rs 14,778 crore).;
Margin at 13.86% vs 10.89% (Bloomberg estimate: 13.6%).
Net profit up 138% to Rs 7,025 crore vs Rs 3,043 crore (Bloomberg estimate: Rs 4,557 crore).
Bank Of India Q3 Earnings (Standalone, YoY)
NII down 2% at Rs 5,463.5 crore vs Rs 5,595 crore.
Net profit up 62.4% at Rs 1,869.5 crore vs Rs 1,151 crore (Bloomberg estimate: Rs 2,183 crore).
Gross NPA at 5.35% vs 5.84% (QoQ).
Net NPA at 1.41% vs 1.54% (QoQ).
InterGlobe Aviation Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 30.3% at Rs 19,452 crore vs Rs 14,933 crore (Bloomberg estimate: Rs 18,266 crore).
Ebitdar up 40.4% at Rs 5,499.2 crore vs Rs 3,774.2 crore.
Margin at 28% vs 25%.
Net profit at Rs 2,998 crore vs Rs 1,422.6 crore (Bloomberg estimate: Rs 2,518.6 crore).
Divgi TorqTransfer Systems Q3 Earnings (Consolidated, YoY)
Revenue down 1.5% at Rs 63.05 crore vs Rs 63.98 crore.
Ebitda down 29% at Rs 12.9 crore vs Rs 18.14 crore.
Margin at 20.5% vs 28.4%.
Net profit down 22.2% at Rs 9.37 crore vs Rs 12.05 crore.
UPL Q3 Earnings FY24 (Consolidated, YoY)
Revenue down 27.7% at Rs 9,887 crore vs Rs 13,679 crore (Bloomberg estimate: Rs 11,060.4 crore).
Ebitda down 86% at Rs 416 crore vs Rs 2,964 crore (Bloomberg estimate: Rs 1,635.8 crore).
Margin at 4.2% vs 21.7% (Bloomberg estimate: 14.8 crore).
Net loss of Rs 1,607 crore vs profit of Rs 1,360 crore (Bloomberg estimate: Rs 5.2 crore).
Delhivery Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 20.3% at Rs 2,194.5 crore vs Rs 1,823.8 crore.
Ebitda at Rs 109.3 crore vs Ebitda loss of Rs 73.4 crore.
Margin at 4.98%
Net profit at Rs 11.7 crore vs loss of Rs 195.7 crore.
Titagarh Rail Systems Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 24.6% at Rs 954.7 crore vs Rs 766.4 crore.
Ebitda up 52.3% at Rs 110.68 crore vs Rs 72.65 crore.
Margin at 11.59% vs 9.47%
Net profit up 129.8% at Rs 74.8 crore vs Rs 32.6 crore.
Medplus Health Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 21.1% at Rs 1,441.5 crore vs Rs 1,190.3 crore (Bloomberg estimate: Rs 1,462.6 crore).
Ebitda up 28.1% at Rs 91.8 crore vs Rs 71.7 crore (Bloomberg estimate: Rs 71.7 crore).
Margin at 6.36% vs 6.02% (Bloomberg estimate: 4.9%).
Net profit up 2.4% at Rs 13.7 crore vs Rs 13.4 crore (Bloomberg estimate: Rs 12.9 crore).
Fine Organics Q3 Earnings FY24 (Consolidated, YoY)
Revenue down 35.7% at Rs 488.4 crore vs Rs 759.5 crore (Bloomberg estimate: Rs 508.9 crore).
Ebitda down 26.1% at Rs 118.24 crore vs Rs 160.08 crore (Bloomberg estimate: Rs 121 crore).
Margin at 24.2% vs 21.07% (Bloomberg estimate: 23.8%).
Net profit down 11.3% at Rs 94.2 crore vs Rs 106.2 crore (Bloomberg estimate: Rs 89.1 crore).
Mahindra Lifespace Developers Q3 Earnings FY24 (Consolidated, YoY)
Revenue down 56.1% at Rs 82 crore vs Rs 186.9 crore (Bloomberg estimate: Rs 62.1 crore).
Ebitda loss of Rs 39 crore vs Ebitda loss of Rs 11.4 crore (Bloomberg estimate: Rs -47.8 crore).
Net profit up 46.6% at Rs 50 crore vs Rs 34.1 crore (Bloomberg estimate: Rs 2.3 crore).
Dalmia Bharat Sugar Q3 Earnings (Consolidated, YoY)
Revenue down 2.7% at Rs 583.6 crore vs Rs 600 crore.
Ebitda down 2.8% at Rs 109.3 crore vs Rs 112.5 crore.
Margin at 18.72% vs 18.75%.
Net profit at Rs 64.9 crore vs Rs 64.9 crore.
Metropolis Health Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 2% at Rs 291.1 crore vs Rs 285.5 crore.
Ebitda down 8.1% at Rs 64.8 crore vs Rs 70.5 crore.
Margin at 22.26% vs 24.69%.
Net profit down 24% at Rs 27.3 crore vs Rs 35.9 crore.
LIC Housing Finance Q3 Earnings FY24 (Standalone, YoY)
Revenue up 15.7% at Rs 6,792.5 crore vs Rs 5,871 crore.
Net profit at Rs 1,162.9 crore vs Rs 480.3 crore (Bloomberg estimate: Rs 1,131.9 crore).
Earnings In Focus
Alembic Pharmaceuticals, Artemis Medicare Services, Ashok Leyland, Aurionpro Solutions. Avanti Feeds, Bajaj Consumer Care, Bajaj Electricals, Banco Products (India), Bharti Airtel, CCL Products, Cholamandalam Financial Holdings, eMudhra, Fusion Micro Finance, GE T&D India, Gulf Oil Lubricants India, Ideaforge Technology, Kansai Nerolac Paints, K.P.R. Mill, Kalyani Steels, Linde India, Man Infraconstruction, Orient Cement, Paradeep Phosphates, Prince Pipes and Fittings, Responsive Industries. Shilchar Technologies, Sun Pharma Advanced Research, Suven Pharmaceuticals, Tata Chemicals, Triveni Turbine, TVS Supply Chain Solutions, Unichem Laboratories, Varun Beverages, Vijaya Diagnostic Centre, and VRL Logistics.
Stocks To Watch
Bajaj Finance: The non-banking financial company will acquire a 7% stake on a fully diluted basis in RMBS Development Co. for an undisclosed amount.
Aurobindo Pharma: The USFDA inspected the company’s unit in Telangana and closed with nine inspections. The company temporarily stopped manufacturing on certain lines.
India Cements: The Enforcement Directorate searched the company's Chennai office and was looking into certain forex transactions done by associate company India Cements Capital.
H.G. Infra Engineering: The company received a letter of acceptance from the Central Railway for a Rs 716 crore construction project.
Mahindra and Mahindra Financial Services: The company reported disbursement at Rs 4,440 crore, up 11% YoY, and collection efficiency at 95%.
Cochin Shipyard: The company received a contract worth Rs 150 crore from the Indian Navy for medium refits of two vessels.
Torrent Pharmaceuticals: Sudhir Mehta will step down as director and continue to be the chairman emeritus, effective April 1.
Atul: The company completed capacity expansion at the DCDPS plant and approved an investment of Rs 99.5 crore for expansion.
Torrent Power: The company will set up 150 MW of solar power projects at four of Shapoorji's desalination plants.
India Glycols: The company expanded the capacity of the grain-based distillery plant in Gorakhpur to 290 KLPD from 110 KLPD.
IPO Offerings
Apeejay Surrendra Park Hotels: The hotel chains operator will offer its shares for bidding on Monday. The issue price is set at Rs 147-155 apiece. The Rs 920-crore IPO consists of a fresh issue of Rs 600 crore and an offer for sale of Rs 320 crore. The company has raised Rs 409.5 crore from anchor investors.
Block Deals
Infibeam Avenues: Abhishek Mayur Desai sold 30 lakh shares (0.11%) at Rs 34.9 apiece and Sonal Desai bought 30 lakh shares (0.11%) at Rs 34.9 apiece.
Bulk Deals
One 97 Communication: Morgan Stanley Asia bought 50 lakh shares (0.78%) at Rs 487.2 apiece.
HMA Agro Industries: Radiant Global Fund sold 70 lakh shares (13.97%) at Rs 72.5 apiece.
Indiabulls Housing Finance: Vibgyor Investors Developers sold 25 lakh shares (0.52%) at Rs 189.12 apiece.
Pricol: Phi Capital Solutions LLP sold 20 lakh shares (1.64%) at Rs 408.08 apiece, while Societe Generale bought 8.24 lakh shares (0.67%) at Rs 408.05 apiece.
Salasar Techno Engineering: BLB sold 39.83 lakh shares (1.26%) at Rs 29.4 apiece.
Skipper: SK Bansal Family Trust sold 6.25 lakh shares (0.6%) at Rs 99.31 apiece, SK Bansal Heritage Trust sold 4.62 lakh shares (0.45%) at Rs 91.49 apiece, and SK Bansal Unity Trust sold 4.5 lakh shares (0.43%) at Rs 102 apiece.
Swan Energy: 2I Capital PCC sold 25 lakh shares (0.94%) at Rs 657.27 apiece.
Tourism Finance Corp: Quant Mutual Fund bought 6 lakh shares (0.66%) at Rs 208.57 apiece.
PB Fintech: PI Opportunities Fund sold 46.43 lakh shares (1.03%) at Rs 985.07 apiece.
Who’s Meeting Whom
Tega Industries: To meet analysts and investors on Feb. 9.
PB Fintech: To meet analysts and investors on Feb. 5, 6 and 21.
IndusInd Bank: To meet analysts and investors on Feb. 7 and 12.
Indian Energy Exchange: To meet analysts and investors on Feb. 6.
Trading Tweaks
Price band revised from 20% to 10%: BEML Land Assets, Man Industries, NBCC, One 97 Communication.
Price band revised from 10% to 5%: FCS Software Solutions, Gallant ISPAT, Pakka, PTC India Financial Services.
Price band revised from 5% to 10%: Prakash Industries.
Ex/record date dividend: Apcotex Industries, Sona BLW Precision Forgings, Coforge, Mahanagar Gas, Tanla Platforms, CG Power, and Industrial Solutions.
Moved into short-term ASM framework: South Indian Bank.
Moved out of short-term ASM framework: Zee Entertainment Enterprises, Bondada Engineering, Network 18 Media & Investments.
F&O Cues
Nifty February futures up by 0.95% to 21,951.40 at a premium of 97.6 points.
Nifty February futures open interest up by 4.10%.
Nifty Bank February futures down by 0.55% to 46,236.65 at a premium of 265.7 points.
Nifty Bank February futures open interest down by 6.57%.
Nifty Options Feb,. 8 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 21,000.
Bank Nifty Options Feb. 7 Expiry: Maximum Call Open Interest at 49,000 and Maximum Put open interest at 44,000. Pending
Securities in the ban period: Hindustan Copper, India Cements, Indus Tower, SAIL, Zee Entertainment Enterprise.
Money Market Update
The Indian rupee strengthened 5 paise to close at Rs 82.93 against the U.S. dollar.
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