Stock Market Today: All You Need To Know Going Into Trade On Feb. 14
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Share indices in Asia-Pacific region were trading sharply lower, tracking similar move on Wall Street, as higher-than-expected U.S. CPI data pushed back traders' expectation of rate cuts by the Federal Reserve anytime soon.
The Nikkei 225 was 199.00 points or 0.52% down at 37,764.97, while the KOSPI index 43.85 points or 1.65% down at 2,605.79 as of 06:40 a.m.
The S&P 500 index and Nasdaq Composite fell by 1.37% and 1.80%, respectively, as of Tuesday. The Dow Jones Industrial Average fell by 1.80%.
Brent crude was trading 0.94% higher at $82.77 a barrel. Gold was lower by 0.05% at $1,992.11 an ounce.
India's benchmark indices ended higher on Tuesday led by gains in Reliance Industries Ltd. and banking stocks, ahead of the release of U.S. January CPI data.
The NSE Nifty 50 ended 127.20 points, or 0.59%, higher at 21,743.25, and the S&P BSE Sensex gained 482.70 points, or 0.68%, to end at 71,555.19.
The Nifty 50 hit an intraday high of 21,766.80, and the Sensex touched a high of 71,662.74.
Overseas investors remained net buyers of Indian equities for the third consecutive session on Tuesday.
Foreign portfolio investors mopped up stocks worth Rs 376.3 crore, while domestic institutional investors also remained net buyers and purchased equities worth Rs 273.9 crore, the NSE data showed.
The Indian rupee closed flat at Rs 83.01 against the U.S. dollar.
Earnings Post Market Hours
Prestige Estates Q3 FY24 Results (Consolidated, YoY)
Revenue down 22.5% to Rs 1,796 crore (Bloomberg estimate: Rs 2,548 crore).
Ebitda down 4% to Rs 551.5 crore (Bloomberg estimate: Rs 717 crore).
Margin at 30.7% vs 24.7% (Bloomberg estimate: 28%).
Net profit down 2% at Rs 164.7 crore (Bloomberg estimate: Rs 269 crore).
IRCTC Q3 FY24 (Consolidated, YoY)
Revenue up 21.81% at Rs 1,118.3 crore vs Rs 918.06 crore (Bloomberg estimate: Rs 1,069.78 crore).
Ebitda up 20.92% at Rs 393.97 crore vs Rs 325.8 crore (Bloomberg estimate: Rs 377.03 crore).
Margin narrows 25 bps to 35.22% vs 35.48% (Bloomberg estimate: 35.20%).
Net profit up 17.4% at Rs 299.99 crore vs Rs 255.52 crore (Bloomberg estimate: Rs 302.57 crore).
Eris Life Q3 FY24 (Consolidated, YoY)
Revenue up 14.9% at Rs 486.3 crore vs Rs 423.3 crore (Bloomberg estimate: Rs 493.28 crore).
Ebitda up 27.8% at Rs 175.5 crore vs Rs 137.3 crore (Bloomberg estimate: Rs 174.68 crore).
Margin expands 365 bps to 36.08% vs 32.43% (Bloomberg estimate: 35.40%).
Net profit up 1.3% at Rs 101.5 crore vs Rs 100.2 crore (Bloomberg estimate: Rs 103.03 crore).
Board approved acquisition of 51% stake in pharma company Swiss Parenterals for Rs 637.5 crore.
MTAR Technologies Q3 FY24 (Consolidated, YoY)
Revenue down 26.1% at Rs 118.4 crore vs Rs 160.2 crore (Bloomberg estimate: Rs 148.25 crore).
Ebitda down 47.06% at Rs 23.86 crore vs Rs 45.07 crore.
Margin narrows 798 bps to 20.15% vs 28.13%.
Net profit down 66.87% at Rs 10.4 crore vs Rs 31.4 crore (Bloomberg estimate: Rs 21.05 crore).
RHI Magnesia India Q3 FY24 (Consolidated, YoY)
Revenue up 43.12% at Rs 922.9 crore vs Rs 644.8 crore.
Ebitda up 26.69% at Rs 116.75 crore vs Rs 92.15 crore.
Margin narrows 164 bps to 12.65% vs 14.29%.
Net profit down 32.89% at Rs 39.38 crore vs Rs 58.68 crore.
NBCC (India) Q3 FY24 (Consolidated, YoY)
Revenue up 12.96% at Rs 2,412.6 crore vs Rs 2,135.8 crore.
Ebitda up 23.22% at Rs 117.32 crore vs Rs 95.21 crore.
Margin expands 40 bps to 4.86% vs 4.45%.
Net profit up 58.9% at Rs 113.6 crore vs Rs 71.49 crore.
HLE Glascoat Q3 FY24 (Consolidated, YoY)
Revenue up 11.71% at Rs 239.3 crore vs Rs 214.2 crore.
Ebitda down 4.3% at Rs 24.67 crore vs Rs 25.78 crore.
Margin narrows 172 bps to 10.3% vs 12.03%.
Net profit down 51.34% at Rs 5.97 crore vs Rs 12.27 crore.
Rashtriya Chemicals and Fertilizers Q3 FY24 (Consolidated, YoY)
Revenue down 21.36% at Rs 4,903.52 crore vs Rs 6,235.14 crore.
Ebitda down 80.82% at Rs 84.09 crore vs Rs 438.31 crore.
Margin narrows 531 bps to 1.71% vs 7.02%.
Net profit down 95.42% at Rs 11.22 crore vs Rs 245.2 crore.
Oil India Q3 FY24 (Consolidated, YoY)
Revenue up 3.16% at Rs 9,614.28 crore vs Rs 9,299.03 crore.
Ebitda down 17.57% at Rs 3,443.23 crore vs Rs 4,176.8 crore.
Margin narrows 910 bps to 35.81% vs 44.91%.
Net profit up 3.12% at Rs 2,607.7 crore vs Rs 2,528.6 crore.
Hindustan Copper Q3 FY24 (Consolidated, YoY)
Revenue down 28.32% at Rs 399.3 crore vs Rs 557 crore.
Ebitda down 6.42% at Rs 106.61 crore vs Rs 113.93 crore.
Margin expands 624 bps to 26.69% vs 20.45%.
Net profit down 21.44% at Rs 63 crore vs Rs 80.2 crore.
Innova Captab Q3 FY24 (Consolidated, YoY)
Revenue up 24.98% at Rs 302.48 crore vs Rs 242.01 crore.
Ebitda up 30.34% at Rs 44.59 crore vs Rs 34.21 crore.
Margin expands 60 bps to 14.74% vs 14.13%.
Net profit up 28.34% at Rs 25.13 crore vs Rs 19.58 crore.
Ahluwalia Contracts Q3 FY24 (Consolidated, YoY)
Revenue up 38.1% at Rs 1,026.5 crore vs Rs 743.3 crore (Bloomberg estimate: Rs 904.70 crore).
Ebitda up 56.46% at Rs 111.87 crore vs Rs 71.5 crore (Bloomberg estimate: Rs 97 crore).
Margin expands 127 bps to 10.89% vs 9.61% (Bloomberg estimate: 10.70%).
Net profit up 56.29% at Rs 70.24 crore vs Rs 44.94 crore (Bloomberg estimate: Rs 60.50 crore).
Indiabulls Real Estate Q3 FY24 (Consolidated, YoY)
Revenue down 24.37% at Rs 100.6 crore vs Rs 133 crore.
Ebitda loss at Rs 33.1 crore vs loss of Rs 245.4 crore.
Net loss at Rs 38.5 crore vs loss of Rs 236.8 crore.
Nuvama Wealth Management Q3 FY24 (Consolidated, YoY)
Revenue up 104.78% at Rs 186.5 crore vs Rs 91.07 crore.
Net profit at Rs 30.97 crore vs loss of Rs 5.78 crore.
Sula Vineyards Q3 FY24 (Consolidated, YoY)
Revenue up 4.01% at Rs 203 crore vs Rs 190.61 crore.
Ebitda up 12.2% at Rs 71.81 crore vs Rs 64 crore.
Margin expands 179 bps to 35.37% vs 33.57%.
Net profit up 9.41% at Rs 42.98 crore vs Rs 39.28 crore.
Zee Entertainment Enterprises (Consolidated, QoQ)
Revenue down 16.25% at Rs 2,045.67 crore vs Rs 2,442.47 crore (Bloomberg estimate: Rs 2,087.26 crore).
Ebitda down 38.01% at Rs 209.17 crore vs Rs 337.43 crore (Bloomberg estimate: Rs 208.95 crore).
Margin narrows 359 bps to 10.22% vs 13.81% (Bloomberg estimate: 10%).
Net profit down 52.42% at Rs 58.5 crore vs Rs 122.96 crore (Bloomberg estimate: Rs 90.54 crore).
Board continues to monitor progress on Zee-Sony merger.
Claims against company, termination fee not tenable, it said.
Bengal & Assam Co. Q3 FY24 (India) (Consolidated, YoY)
Total income down 13.62% at Rs 3,795.26 crore vs Rs 4,393.38 crore.
Net profit at Rs 3,062.21 crore vs Rs 437 crore.
Dynamatic Technologies Q3 FY24 (Consolidated, YoY)
Revenue up 10.31% at Rs 345.51 crore vs Rs 313.21 crore.
Ebitda down 3.02% at Rs 40.69 crore vs Rs 41.96 crore.
Margin narrows 161 bps to 11.77% vs 13.39%.
Net profit up 60.11% at Rs 11.24 crore vs Rs 7.02 crore.
Garden Reach Shipbuilders & Engineers Q3 FY24 (Consolidated, YoY)
Revenue up 32.13% at Rs 923.09 crore vs Rs 698.6 crore (Bloomberg estimate: Rs 960.95 crore).
Ebitda up 3.94% at Rs 48.7 crore vs Rs 46.85 crore (Bloomberg estimate: Rs 64.85 crore).
Margin narrows 143 bps to 5.27% vs 6.7% (Bloomberg estimate: 6.70%).
Net profit up 38.06% at Rs 88.25 crore vs Rs 63.92 crore (Bloomberg estimate: Rs 89.10 crore).
Jindal Worldwide Q3 FY24 (Consolidated, YoY)
Revenue up 8.41% at Rs 437.76 crore vs Rs 403.77 crore.
Ebitda up 17.82% at Rs 50.63 crore vs Rs 42.97 crore.
Margin expands 92 bps to 11.56% vs 10.64%.
Net profit up 42.41% at Rs 21.02 crore vs Rs 14.76 crore.
La Opala Q3 FY24 (Consolidated, YoY)
Revenue down 15.22% at Rs 107.14 crore vs Rs 126.37 crore.
Ebitda down 12.14% at Rs 40.63 crore vs Rs 46.24 crore.
Margin expands 133 bps to 37.92% vs 36.59%.
Net profit up 27.45% at Rs 44.15 crore vs Rs 34.64 crore.
Deepak Nitrite Q3 FY24 (Consolidated, YoY)
Revenue up 0.91% at Rs 2,009.23 crore vs Rs 1,991.06 crore (Bloomberg estimate: Rs 1,862.89 crore).
Ebitda down 3.16% at Rs 304.65 crore vs Rs 314.59 crore (Bloomberg estimate: Rs 328.20 crore).
Margin narrows 63 bps to 15.16% vs 15.8% (Bloomberg estimate: 17.60%).
Net profit down 3.34% at Rs 202.05 crore vs Rs 209.05 crore (Bloomberg estimate: Rs 220.04 crore).
SEPC Q3 FY24 (Consolidated, YoY)
Revenue up 14.9% at Rs 140.7 crore vs Rs 122.45 crore.
Ebitda loss of Rs 1.86 crore vs profit of Rs 13.78 crore.
Net profit up 42.15% at Rs 5.53 crore vs Rs 3.89 crore.
Tasty Bite Eatables Q3 FY24 (Consolidated, YoY)
Revenue up 25.82% at Rs 132.37 crore vs Rs 105.2 crore.
Ebitda up 15.8% at Rs 12.75 crore vs Rs 11.01 crore.
Margin narrows 83 bps to 9.63% vs 10.46%.
Net profit up 65.78% at Rs 6.25 crore vs Rs 3.77 crore.
Techno Electric & Engineering Co. Q3 FY24 (Consolidated, YoY)
Revenue up 76.26% at Rs 326.54 crore vs Rs 185.26 crore.
Ebitda up 141.24% at Rs 56.33 crore vs Rs 23.35 crore.
Margin expands 464 bps to 17.25% vs 12.6%.
Net profit up 191.28% at Rs 91.87 crore vs Rs 31.54 crore.
Technocraft Industries Q3 FY24 (Consolidated, YoY)
Revenue up 4.83% at Rs 512.67 crore vs Rs 489.01 crore.
Ebitda down 25.93% at Rs 81.97 crore vs Rs 110.67 crore.
Margin narrows 664 bps to 15.98% vs 22.63%.
Net profit down 29.45% at Rs 61.57 crore vs Rs 87.28 crore.
Nalco Q3 FY24 (Consolidated, YoY)
Revenue up 1.5% at Rs 3,346.9 crore vs Rs 3,297.19 crore.
Ebitda up 66.06% at Rs 773.13 crore vs Rs 465.57 crore.
Margin expands 897 bps to 23.09% vs 14.12%.
Net profit up 83.6% at Rs 470.61 crore vs Rs 256.32 crore.
Tide Water Oil (India) Q3 FY24 (Consolidated, YoY)
Revenue down 0.13% at Rs 496.45 crore vs Rs 497.07 crore.
Ebitda up 23.39% at Rs 41.61 crore vs Rs 33.72 crore.
Margin expands 159 bps to 8.38% vs 6.78%.
Net profit up 29.32% at Rs 33.56 crore vs Rs 25.95 crore.
Sequent Scientific Q3 FY24 (Consolidated, YoY)
Revenue down 12.25% at Rs 329.35 crore vs Rs 375.31 crore.
Ebitda up 115.91% at Rs 22.11 crore vs Rs 10.24 crore.
Margin expands 398 bps to 6.71% vs 2.72%.
Net profit at Rs 10.67 crore vs loss of Rs 9.77 crore.
Nesco Q3 FY24 (Consolidated, YoY)
Revenue up 24.45% at Rs 177.76 crore vs Rs 142.83 crore.
Ebitda up 38.81% at Rs 113.62 crore vs Rs 81.85 crore.
Margin expands 661 bps to 63.91% vs 57.3%.
Net profit up 33.76% at Rs 93.74 crore vs Rs 70.08 crore.
Senco Gold Q3 FY24 (YoY)
Revenue up 22.81% at Rs 1,651.24 crore vs Rs 1,344.47 crore.
Ebitda up 12.23% at Rs 182.79 crore vs Rs 162.87 crore.
Margin narrows 104 bps to 11.06% vs 12.11%.
Net profit up 7.21% at Rs 111.43 crore vs Rs 103.93 crore.
Earnings In Focus
Mahindra & Mahindra, NMDC, Muthoot Finance Aditya Birla Fashion and Retail, Alembic, Ashapura Minechem, Axiscades Technologies, Confidence Petroleum India, Crompton Greaves Consumer Electricals, Dishman Carbogen Amcis, Ethos, Eureka Forbes, Fineotex Chemical, Ganesha Ecosphere, Gateway Distriparks, Gland Pharma, Glenmark Pharmaceuticals, Orient Green Power, Gujarat State Petronet, Gufic Biosciences, Hinduja Global Solutions, Indiabulls Housing Finance, IPCA Laboratories, Jindal Poly Films, Jtekt India, Jyoti CNC Automation, Kddl, Kirloskar Brothers, KPI Green Energy, Mufin Green Finance, Natco Pharma , National Fertilizers, Narayana Hrudayalaya, Polyplex Corp., PYC India, Rajesh Exports, Sun TV Network, Suprajit Engineering, Wockhardt, and Yatra Online
Stocks To Watch
Adani Group Companies: Global rating agency, Moody’s, has revised the outlook for four Adani group companies to 'stable' from 'negative' while affirming the ratings of eight companies on Tuesday.
Wipro: The IT major acquired a 60% stake in Aggne Global for $66 million to strengthen consulting capabilities.
Bharat Electronics: The company received an order worth of Rs 2,167 crore from the Indian Navy for the indigenously designed and developed EW suite.
Adani Power: The Competition Commission of India approved a proposal to acquire a 100% stake in Coastal Energen by the company and Dickey Alternative Investment Trust.
Lupin: The company launched Bromfenac Ophthalmic Solution in U.S. which is a generic of BromSite Ophthalmic Solution.
Vishnu Prakash R Punglia: The company secured a contract worth Rs 73.92 crore from Mumbai Railway Vikas Corp. for the construction of a Railway Station along with other allied works at Chikhloli between Kalyan-Badlapur stations of Mumbai Division Central Railway.
Infosys: The IT major announced a collaboration with Pacific International Lines for digital transformation in the logistics industry.
Lemon Tree Hotel: The company signed a license agreement for an upcoming hotel in Noida under the brand ‘Lemon Tree Hotel’.
Sonata Software: The company announced the integration of Amazon Bedrock, bringing artificial intelligence adoption to the forefront of businesses. Amazon Bedrock is a fully managed service from Amazon Web Services.
Arvind Smartspaces: Ankit Jain resigned from the position of CFO.
Railtel: The company received an order worth Rs 140 crore from the Prasar Bharati Broadcasting Corp. for design, development, implementation, operations, and maintenance of OTT platform.
Wipro: The company’s three step-down units voluntarily de-register effective Feb. 1
New Listings
Jana Small Finance Bank: The company's shares will debut on the stock exchanges on Wednesday at an issue price of Rs 414 apiece. The Rs 570 crore IPO was subscribed 18.5 times on its third and final day. Bids were led by institutional investors (38.75 times), non-institutional investors (25.05 times), and retail investors (5.46 times), and employee reserved (1.95 times)
Capital Small Finance Bank: The company's shares will debut on the stock exchanges on Wednesday at an issue price of Rs 468 apiece. The Rs 523.07 crore IPO was subscribed 4.00 times on its third and final day. Bids were led by institutional investors (6.64 times), non-institutional investors (4.05 times), and retail investors (2.49 times).
Rashi Peripherals: The company's shares will debut on the stock exchanges on Wednesday at an issue price of Rs 311 apiece. The Rs 600 crore IPO was subscribed 59.71 times on its third and final day. Bids were led by institutional investors (143.66 times), non-institutional investors (62.75 times), and retail investors ( 10.44 times).
IPO Offerings
Entero Healthcare Solutions: The public issue was subscribed 1.53 times on day 3. The bids were led by non-institutional investors (0.22 times), retail investors (1.33 times), and institutional investors (2.28 times) and reserved for employees (1.25 times).
Vibhor Steel Tubes: The public issue was subscribed 27.53 times on day 1. The bids were led by non-institutional investors (48.33 times), retail investors (32.514 times), and institutional investors (3.56 times) and reserved for employees (27.45 times).
Bulk Deals
Antony Waste: ARK Global Emerging Companies LP bought 2.03 lakh shares (0.71%) at Rs 526.73 apiece.
Maharastra Telephone Nigam: Ferns Investments sold 20 lakh shares (0.31%) at Rs 39.24 apiece.
Prudent Corporate Advisory Services: TA FDI Investors sold 33.12 lakh shares (7.99%), while Zulia Investments PTE. bought 32.51 lakh shares (7.85%) at Rs 1,250 apiece.
Tourism Finance Corp: Sanjiv Bidasaria sold 4.62 lakh shares (0.51%) at Rs 181.94 apiece while Vajra Machineries sold 5.56 lakh shares (0.61%) at Rs 183.61 apiece.
Insider Trades
Som Distilleries and Breweries: Promoter group Jagdish Kumar Arora bought 5,000 shares on Feb. 13.
Ramkrishna Forgings: Promoter Riddhi Portfolio bought 12,194 shares on Feb. 12.
Mrs Bectors Food Specialities: Promoter Anoop Bector bought 5,000 shares on Feb. 12.
Pledge Share Details
Mangalore Chemicals & Fertilizers: Promoter Zuari Agro Chemicals created a pledge of 45 lakh shares on Feb. 12.
Steel Exchange India: Promoter Vizag Profiles release a pledge of 24 lakh shares on Feb. 9.
Who’s Meeting Whom
Adani Enterprise: To meet analysts and investors on Feb. 16.
SKF India: To meet analysts and investors on Feb. 21.
AllCargo Logistics: To meet analysts and investors on Feb. 16.
EPACK Durable: To meet analysts and investors on Feb. 16.
Cummins: To meet analysts and investors on Feb. 20.
RPG Life Sciences: To meet analysts and investors on Feb. 19.
Trading Tweaks
Price band revised from 10% to 5%: Dhunseri Ventures, NBCC (India).
Ex/record date dividend: Minda Corp., Procter and Gamble Health, Archean Chemical Industries, Sumitomo Chemical India, Goodluck India, Dhanuka Agritech, Sumitomo Chemical India.
Moved Out of short-term ASM framework: Tide Water Oil Company (India).
Moved Into short-term ASM framework: Orchid Pharma, Parag Milk Foods, Trent.
F&O Cues
Nifty February futures up by 0.55% to 21,823.75 at a premium of 80.5 points.
Nifty February futures open interest up by 1.22%.
Nifty Bank February futures up by 1.26% to 45,732.5 at a premium of 230.1 points.
Nifty Bank February futures open interest up by 2.8%.
Nifty Options Feb 15 Expiry: Maximum Call open interest at 22,000 and Maximum Put open interest at 21,000.
Bank Nifty Options Feb 14 Expiry: Maximum Call Open Interest at 47,000 and Maximum Put open interest at 45,000.
Securities in ban period: Aditya Birla Fashion, Ashok Leyland, Aurobindo Pharma, Balrampur Chini Mills, Bandhan Bank, Biocon, Delta Corp, India Cements, Indus Tower, National Aluminium, PNB, Sail, Zee Entertainment Enterprise.
Money Market Update
The Indian rupee closed flat at Rs 83.01 against the U.S.
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