Stock Market Today: All You Need To Know Going Into Trade On Feb. 6
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Most other Asian indices declined following the Wall Street as strong US economic data further reduced expectations for a swift Federal Reserve pivot to monetary easing. Treasuries gained after another slump Monday.
Brent crude was trading 0.08% higher at $78.05 a barrel. Gold was up by 0.14% at $2,027.94 an ounce.
India's benchmark stock indices ended lower on Monday as last-hour selloffs erased all morning gains, led by losses in index heavyweights Reliance Industries Ltd. and Bharti Airtel Ltd.
The Nifty settled 0.38%, or 82.10 points, lower at 21,771.70, while the Sensex fell 0.49%, or 354.21 points, to end at 71,731.42. The Nifty gained as much as 0.51% and the Sensex 0.42%.
Overseas investors remained net buyers of Indian equities for the second consecutive session on Monday.
Foreign portfolio investors mopped up stocks worth Rs 518.8 crore, while domestic institutional investors turned net sellers and offloaded equities worth Rs 1,188.6 crore, the NSE data showed.
The Indian rupee weakened 13 paise to close at Rs 83.06 against the U.S. dollar.
Earnings Post Market Hours
Bharti Airtel Q3 Earnings FY24 (Consolidated, QoQ)
Revenue up 2.3% at Rs 37,899.5 crore vs Rs 37,043.8 crore (Bloomberg estimate Rs 38,051.3 crore).
Ebitda up 1.54% at Rs 19,814.8 crore vs Rs 19,513.7 crore (Bloomberg estimate Rs 19,841.04 crore).
Margin narrowed by 39 bps to 52.28% vs 52.67% (Bloomberg estimate 52.10%).
Net profit up 37.41% at Rs 2,876.4 crore vs Rs 2,093.2 crore (Bloomberg estimate Rs 2,596.3 crore).
Tata Chemicals Q3 Earnings FY24 (Consolidated, YoY)
Revenue down 10.1% at Rs 3,730 crore vs Rs 4,148 crore (Bloomberg estimate Rs 3,824.7 crore).
Ebitda down 41.2% at Rs 542 crore vs Rs 922 crore (Bloomberg estimate Rs 732.97 crore).
Margin narrowed by 769 bps to 14.5% vs 22.2% (Bloomberg estimate 19.7%).
Net profit down 54.4% at Rs 194 crore vs Rs 425 crore (Bloomberg estimate Rs 283.2 crore).
Ashok Leyland Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 6.66% at Rs 11,092.7 crore vs Rs 10,399.74 crore.
Ebitda up 45.87% at Rs 1,961.28 crore vs Rs 1,344.47 crore.
Margin expanded by 475 bps to 17.68% vs 12.92%.
Net profit up 73.35% at Rs 608.85 crore vs Rs 351.21 crore.
Avanti Feeds Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 13.7% at Rs 1,253.2 crore vs Rs 1,102.6 crore (Bloomberg estimate Rs 1,014.9 crore).
Ebitda up 20.4% at Rs 97 crore vs Rs 80.59 crore (Bloomberg estimate Rs 73.1 crore).
Margin expanded 43 bps to 7.7% vs 7.3% (Bloomberg estimate 7.2%).
Net profit up 18% to Rs 83.31 crore vs Rs 70.59 crore (Bloomberg estimate Rs 57.8 crore.).
Responsive Industries Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 1.3% at Rs 267.3 crore vs Rs 263.9 crore.
Ebitda up 83.9% at Rs 66.45 crore vs Rs 36.14 crore.
Margin expanded 1,116 bps to 24.9% vs 13.7%.
Net profit at Rs 44.71 crore vs Rs 16.82 crore.
Ask Automotive Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 19.6% at Rs 761.7 crore vs Rs 637 crore.
Ebitda up 41.6% at Rs 80.07 crore vs Rs 56.53 crore.
Margin expanded by 163 bps to 10.51% vs 8.87%.
Net profit up 71.3% at Rs 49.94 crore vs Rs 29.15 crore.
eMudhra Q3 Earnings FY24 (Consolidated, YoY)
Total income from operations was up 2.9% at Rs 99.51 crore vs Rs 96.7 crore.
EBIT down 8.3% at Rs 21.48 crore vs Rs 23.43 crore.
Margin narrowed by 264 bps to 21.6% vs 24.2%.
Net profit up 6.6% at Rs 20 crore vs Rs 18.76 crore.
Appointed Ritesh Raj Pariyani as chief financial officer and key managerial personnel of the company, with effect from Feb. 5.
Triveni Turbine Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 32.5% at Rs 431.7 crore vs Rs 325.8 crore (Bloomberg estimate Rs 419.2 crore).
Ebitda up 32.6% at Rs 83.71 crore vs Rs 63.12 crore (Bloomberg estimate Rs 82.42 crore).
Margin at 19.4% (Bloomberg estimate 19.70%).
Net profit up 29.8% at Rs 68.3 crore vs Rs 52.6 crore (Bloomberg estimate Rs 65.98 crore).
Board declares interim dividend of Rs 1.3 per share.
Paradeep Phosphates Q3 Earnings FY24 (Consolidated, YoY)
Revenue down 41% at Rs 2,595 crore vs Rs 4,398.4 crore.
Ebitda down 24% at Rs 282.5 crore vs Rs 371.8 crore.
Margin expanded by 243 bps to 10.9% vs 8.5%.
Net profit down 39.6% at Rs 108.9 crore vs Rs 180.3 crore.
GET&D Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 8% at Rs 839 crore vs Rs 776.6 crore (Bloomberg estimate Rs 886.6 crore).
Ebitda at Rs 96.55 crore vs Rs 45.85 crore (Bloomberg estimate Rs 76.2 crore).
Margin expanded by 560 bps to 11.5% vs 5.9% (Bloomberg estimate 8.6%).
Net profit at Rs 49.35 crore vs Rs 4.74 crore (Bloomberg estimate Rs 44.95 crore).
Linde India Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 1.3% at Rs 706.2 crore vs Rs 697 crore.
Ebitda up 10.9% at Rs 186.2 crore vs Rs 167.8 crore.
Margin expanded by 228 bps at 26.4% vs 24.1%.
Net profit up 9.1% at Rs 120 crore vs Rs 110 crore.
Suven Pharmaceuticals Q3 Earnings FY24 (Consolidated, YoY)
Revenue down 37.9% at Rs 219.8 crore vs Rs 353.8 crore.
Ebitda down 55.6% at Rs 65.14 crore vs Rs 146.7 crore.
Margin narrowed to 29.6% vs 41.5%.
Net profit down 56.6% at Rs 46.75 crore vs Rs 107.7 crore.
Gulf Oil Lubricants India Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 4.7% at Rs 817.5 crore vs Rs 781.1 crore (Bloomberg estimate Rs 883 crore).
Ebitda up 22.7% at Rs 110.4 crore vs Rs 90.02 crore (Bloomberg estimate Rs 118.4 crore).
Margin expanded by 198 bps to 13.5% vs 11.5% (Bloomberg estimate 13.4%).
Net profit up 26.8% at Rs 79.45 crore vs Rs 62.66 crore (Bloomberg estimate Rs 89.1 crore).
Board approves interim dividend of Rs 16 per share.
CCL Products Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 24.13% at Rs 664.48 crore vs Rs 535.29 crore (Bloomberg estimate Rs 655.5 crore).
Ebitda up 10.12% at Rs 110.92 crore vs Rs 100.72 crore (Bloomberg estimate Rs 121.8 crore).
Margin narrowed by 212 bps at 16.69% vs 18.81% (Bloomberg estimate 18.6%).
Net profit down 13.37% at Rs 63.29 crore vs Rs 73.06 crore (Bloomberg estimate Rs 70.66 crore).
Ideaforge Technologies Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 1,065.93% at Rs 90.89 crore vs Rs 7.79 crore.
Ebitda at Rs 19.58 crore vs loss of Rs 16.18 crore.
Margin at 21.54%.
Net profit at Rs 14.79 crore vs loss of Rs 7.80 crore.
Fusion Micro Finance Q3 Earnings (YoY)
Revenue up 31.44% at Rs 613.24 crore vs Rs 466.52 crore.
Net profit up 23.4% at Rs 126.45 crore vs Rs 102.47 crore.
Prince Pipes And Fittings Q3 Earnings FY24 (Consolidated, YoY)
Revenue down 12.37% at Rs 618.62 crore vs Rs 705.89 crore (Bloomberg estimate Rs 646.8 crore).
Ebitda up 8.91% at Rs 75.66 crore vs Rs 69.47 crore (Bloomberg estimate Rs 84.95 crore).
Margin expanded by 238 bps to 12.23% vs 9.84% (Bloomberg estimate 13.10%).
Net profit up 6.32% at Rs 37.63 crore vs Rs 35.39 crore (Bloomberg estimate Rs 48.5 crore).
Bajaj Consumer Care Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 4.3% at Rs 236.38 crore vs Rs 226.63 crore (Bloomberg estimate Rs 236.5 crore).
Ebitda up 12.77% at Rs 33.28 crore vs Rs 29.51 crore (Bloomberg estimate Rs 37.8 crore).
Margin at 14.07% vs 13.02% (Bloomberg estimate 16%).
Net profit up 9.48% at Rs 36.35 crore vs Rs 33.2 crore (Bloomberg estimate Rs 38.4 crore).
BSE Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 82.15% at Rs 3,716 crore vs Rs 2,040 crore.
Ebitda up 135.29% at Rs 920 crore vs Rs 391 crore.
Operating Ebitda margin at 25% vs 19%.
Net profit up 123.06% at Rs 1,064 crore vs Rs 477 crore.
TVS Supply Chain Solutions Q3 Earnings (Consolidated, YoY)
Revenue down 6.39% at Rs 2,221.84 crore vs Rs 2,373.41 crore.
Ebitda down 7.89% at Rs 162.07 crore vs Rs 175.94 crore.
Margin narrowed by 11 bps to 7.29% vs 7.41%.
Net profit down 37.83% at Rs 9.99 crore vs Rs 16.07 crore.
Earnings In Focus
Action Construction Equipment, Agi Greenpac, Akzo Nobel India, Anant Raj, Birla Corporation, Brigade Enterprises, Britannia Industries, Computer Age Management Services, Chambal Fertilisers and Chemicals, Cigniti Technologies, Dollar Industries, E.I.D. Parry, EIH Hotels, Endurance Technologies, Eveready Industries India, FIEM Industries, Go Fashion (India), Godrej Properties Godawari Power & Ispat, Gujarat State Fertilizers and Chemicals, Hawkins Cookers, IOL Chemicals & Pharmaceuticals, J.B. Chemicals and Pharmaceuticals, JK Tyre and Industries, Kingfa Science and Technology, Lemon Tree Hotels, Max Financial Services, Navin Fluorine International, NLC India, FSN E-Commerce Ventures, Procter & Gamble Health, PNC Infratech, Radico Khaitan, Redington, Timken India, Trident, TTK Prestige, Tata Teleservices, Usha Martin, Vakrangee, V-Mart Retail, and Welspun Corp.
Stocks To Watch
One 97 Communication: Paytm operator One97 Communications Ltd. has denied reports of investigation or violation of foreign exchange rules by the company or its associate Paytm Payments Bank.
Jio Financial Services: The company has denied being in talks to acquire the crisis-hit Paytm wallet of One 97 Communications.
Zee Entertainment Enterprise: The National Company Law Tribunal will hear on Tuesday a plea filed by the company regarding the recently terminated merger with Sony Group Corp.'s Indian subsidiary.
Adani Total Gas, INOX India: The two companies have entered into a mutual support agreement under which ATGL and INOXCVA will mutually accord a “preferred partner” status for the delivery of LNG and LCNG equipment.
Pidilite Industries: The company announced the inauguration of a new manufacturing facility in Sandila, near Lucknow, for its tile adhesive brand, Roff.
Triveni Turbine: The company incorporated a wholly-owned subsidiary, ‘Triveni Turbines Americas Inc.' in Texas, USA.
Styrenix Performance Materials: The company was awarded the contract to Mott Macdonald to set up the brownfield expansion project to increase the annual capacity of ABS from 85 KT to 210 KT.
Indian Energy Exchange: The total volume stood at 10,893 MU, up 26.1% year-on-year for the month of January.
Hindalco Industries: The company bought a 26% stake in Ayana Renewable Power for Rs 1.63 crore.
JK Cements: The company approved the merger of units Acro Paints and JK Maxx.
SP Apparels: The company acquired a 100% stake in Youn brand apparel, a subsidiary of Bannari Amman Spinning Mills for Rs 223 crore.
New Listing
BLS E-Services: The company's shares will debut on the stock exchanges on Tuesday at an issue price of Rs 135 apiece. The Rs 310.91 crore IPO was subscribed 162.47 times on its third and final day. Bids were led by non-institutional investors (300.14 times), retail investors (237 times) and institutional investors (123.3 times).
IPO Offerings
Apeejay Surrendra Park Hotels: The public issue was subscribed 2.53 times on day 1. The bids were led by retail investors (5.74 times), non-institutional investors (3.24 times) and institutional investors (1.17 times) and reserved for employees (0.76 times).
Bulk Deals
Andhra Paper: Limited Bright Star Investments sold 2.99 lakh shares (0.75%) at Rs 542.06 apiece.
Kamdhenu Ventures: Niraj Rajnikant Shah sold 4 lakh shares (0.63%) at Rs 214.01 apiece.
SMC Global Securities: Viney Equity Market LLP sold 6.06 lakh shares (0.57%) at Rs 115.38 apiece.
Steel Strips Wheels: Sunena Garg sold 14.63 lakh shares (0.93%) at Rs 273.3 apiece.
Tourism Finance Corp: Aatman Innovations sold 5 lakh shares (0.55%) at Rs 231.98 apiece.
Univastu India: Ketan Keshavji Shah bought 0.64 lakh shares (0.56%) at Rs 124.5 apiece.
Insider Trades
Avantel: Promoter Vidyasagar Abburi sold 78,776 shares on Feb 5.
Who’s Meeting Whom
Greaves Cotton: To meet analysts and investors on Feb. 13.
Jyothy Labs: To meet analysts and investors on Feb 8.
Kalyan Jewellers: To meet analysts and investors on Feb 9.
Aditya Birla Capital: To meet analysts and investors on Feb 8.
GAIL: To meet analysts and investors on Feb 13.
Can Fin Homes: To meet analysts and investors on Feb 8.
Borosil Renewables: To meet analysts and investors on Feb 13.
Waaree Renewables Technologies: To meet analysts and investors on Feb 8.
Bikaji Foods: To meet analysts and investors on Feb 13.
Sun Pharma: To meet analysts and investors on Feb 12, 13, 14, 19 and 20.
Trading Tweaks
Price band revised from 20% to 10%: Pending as data was not came.
Price band revised from 10% to 5%: Pending as data was not came.
Price band revised from 5% to 10%: Pending as data was not came.
Ex/record date dividend: NTPC, Shriram Finance, GAIL, Aarti Drugs, Motilal Oswal Financial Services.
Moved into short-term ASM framework: FCS Software Solutions, One 97 Communications, Tide Water Oil Company.
Moved Out of short-term ASM framework: AstraZeneca Pharma India, Dynamatic Technologies, HFCL, Hi-Tech Pipes, Swelect Energy Systems, Websol Energy System.
F&O Cues
Nifty February futures down by 0.75 % to 21,787 at a premium of 15.3 points.
Nifty February futures open interest down by 0.12%.
Nifty Bank February futures down by 0.60% to 46,040.40 at a premium of 214.85 points.
Nifty Bank February futures open interest down by 2.15%.
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 47,000 and Maximum Put open interest at 44,000.
Securities in ban period: Hindustan Copper, India Cements, Indus Tower, National Aluminium, UPL, Zee Entertainment Enterprise.
Money Market Update
The Indian rupee weakened 13 paise to close at Rs 83.06 against the U.S dollar.
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