Stock Market Today: All You Need To Know Going Into Trade On Jan. 29
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Markets in Asia-Pacific region gained in early trade in Monday as market participants looked forward to the rate decision by the Federal Reserve, scheduled for release on Wednesday.
S&P ASX 200 was trading 0.12% up at 7,564.90 as of 06:18 a.m. This week traders will be focusing on Australia's fourth quarter inflation figure, due to be released on Wednesday.
The Nikkei 225 was trading 0.46% higher at 35,913.65 as of 6:19 a.m. The KOSPI was up 0.45% at 2,490 as pf 6:20 a.m.
Wall Street traders pushed U.S. stocks toward another all-time high on speculation the Federal Reserve will be able to engineer a soft landing as the U.S. economy remains fairly resilient and inflation shows signs of cooling, Bloomberg reported.
The S&P 500 index fell by 0.07%, and Nasdaq 100 shed 0.55% as of Friday. The Dow Jones Industrial rose by 0.16%.
Brent crude was trading 0.48% higher at $83.95 a barrel. Gold was up 0.12% at $2,020.89 an ounce.
India's benchmark stock indices ended lower in a truncated week on Thursday, weighed by losses in index heavyweights HDFC Bank Ltd. and Axis Bank Ltd.
On a weekly basis, the indices closed lower for the second week, with both the Nifty and the Sensex falling 1% this week. The NSE Nifty 50 settled 101.35 points, or 0.47%, lower at 21,352.60, and the S&P BSE Sensex fell 359.64 points, or 0.51%, to end at 70,700.67.
Overseas investors remained net sellers of Indian equities for the seventh consecutive session on Thursday. Foreign portfolio investors offloaded stocks worth Rs 2,144.1 crore, while domestic institutional investors mopped up equities worth Rs 3,474.9 crore, according to provisional data from the National Stock Exchange.
The Indian currency strengthened by two paise to close at Rs 83.11 against the U.S dollar.
Earnings Post Market Hours
Cholamandalam Investment Q3 Earnings FY24 (Standalone, YoY)
Revenue up 48.7% at Rs 5,018.7 crore vs Rs 3,375 crore.
Gross NPA at 3.92% vs 4.07% QoQ.
Net NPA at 2.56% vs 2.59% QoQ.
Net profit up 28% at Rs 876.2 crore vs Rs 684.3 crore.
AU Small Finance Bank Q3 Earnings FY24 (Standalone, YoY)
NII up 15.3% YoY at Rs 1,329.4 crore vs Rs 1,152.8 crore.
Net profit down 4.5% YoY at Rs 375.3 crore vs Rs 392.8 crore.
Gross NPA at 1.98% vs 1.91% QoQ.
Net NPA at 0.68% vs 0.60% QoQ.
Vedanta Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 4.2% at Rs 35,541 crore vs Rs 34,102 crore.
Ebitda up 20.7% at Rs 8,531 crore vs Rs 7,067 crore.
Margin up 328 bps at 24% vs 20.72%.
Net profit down 7.2% at Rs 2,868 crore vs Rs 3,091 crore.
TVS Holdings Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 17.9% at Rs 9,996.4 crore vs Rs 8,475.4 crore.
Ebitda up 46.8% at Rs 1,535.6 crore vs Rs 1,047 crore.
Margin up 300 bps at 15.36% vs 12.35%.
Net profit up 84.3% at Rs 532.3 crore vs Rs 288.9 crore.
Intellect Design Arena Q3 Earnings FY24 (Consolidated, QoQ)
Revenue up 2.5% at Rs 634.4 crore vs Rs 619.1 crore.
EBIT up 9.8% at Rs 96.75 crore vs Rs 88.14 crore.
Margin up 101 bps at 15.25% vs 14.23%.
Net profit up 19.9% at Rs 84.88 crore vs Rs 70.8 crore.
Cyient Q3 Earnings FY24 (Consolidated, QoQ)
Revenue up 2.4% at Rs 1,821.4 crore vs Rs 1,778.5 crore.
EBIT up 0.1% at Rs 326.1 crore vs Rs 325.8 crore.
Margin down 41 bps at 17.9% vs 18.31%.
Net profit down 16.6% at Rs 153.2 crore vs Rs 183.6 crore.
Tata Technologies Q3 Earnings FY24 (Consolidated, QoQ)
Revenue up 1.6% at Rs 1,289.45 crore vs Rs 1,269.17 crore.
EBIT up 11.3% at Rs 209.4 crore vs Rs 188.1 crore.
Margin up 141 bps at 16.23% vs 14.82%.
Net profit up 6.1% at Rs 170.22 crore vs Rs 160.38 crore.
Aeroflex Industries Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 11% at Rs 73.13 crore vs Rs 65.9 crore.
Ebitda up 50.5% at 13.82 crore vs Rs 9.18 crore.
Margin up 496 bps at 18.89% vs 13.93%.
Net profit up 75.5% at Rs 9.04 crore vs Rs 5.15 crore.
Shriram Finance Q3 Earnings FY24 (Standalone)
Revenue from operations up 17.26% YoY at Rs 8.922.39 crore vs Rs 7,608.83 crore.
Net profit up 2.3% YoY at Rs 1,818.3 crore vs Rs 1,777 crore.
Gross NPA at 5.66% vs 5.79% QoQ.
Net NPA at 2.72% vs 2.80% QoQ.
Adani Power Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 67.3% at Rs 12,991.4 crore vs Rs 7,764.4 crore.
Ebitda at Rs 4,645.3 crore vs Rs 1,469.7 crore.
Margin up 1682 bps at 35.75% vs 18.92%.
Net profit at Rs 2,738 crore vs Rs 8.8 crore.
Prepaid long term debt worth Rs 810 crore during Q3FY24 & Rs250 crore during Jan. 2024.
KFin Technologies Q3 Earnings FY24 (Consolidated, QoQ)
Revenue up 4.7% at Rs 218.7 crore vs Rs 209 crore.
EBIT up 4.16% at Rs 84.47 crore vs Rs 81.09 crore.
Margin down 18 bps at 38.62% vs 38.8%.
Net profit up 8.8% at Rs 66.8 crore vs Rs 61.37 crore.
SBI Cards & Payment Services Q3 Earnings FY24 (YoY)
Revenue from operations up 31.7% at Rs 4,621.7 crore vs Rs 3,507.12 crore.
Net profit up 7.8% at Rs 549.1 crore vs Rs 509.5 crore.
Shakti Pumps Q3 Earnings FY24 (Consolidated, YoY)
Revenue up 57.7% at Rs 495.6 crore vs Rs 314.2 crore.
Ebitda at Rs 70.97 crore vs Rs 21.88 crore.
Margin up 735 bps at 14.31% vs 6.96%.
Net profit at Rs 45.19 crore vs Rs 11.25 crore.
Yes Bank Q3 FY24
Net profit up 4.45 times at Rs 231.46 crore vs 52 crore (YoY) (Bloomberg estimate: Rs 367 crore)
NII up 2.3% at Rs 2017 crore vs Rs 1971 crore (YoY)
GNPA at 2% vs 2% (QoQ)
NNPA at 0.9% vs 0.9% (QoQ)
Zen Technologies Q3 FY24 (Consolidated, YoY)
Revenue at Rs 99.5 crore vs Rs 52.5 crore
Ebitda at Rs 42.4 crore vs Rs 16.7 crore
Margin at 42.61% vs 31.8%, up 1080 basis points
Net profit at Rs 29.8 crore vs Rs 11.9 crore
Company to raise Rs 1,000 crore via QIP.
Olectra Greentech Q3 FY24 (Consolidated, YoY)
Revenue up 33.4% at Rs 342.1 crore vs Rs 256.4 crore
Ebitda up 39% at Rs 48.8 crore vs Rs 35.1 crore
Margin at 14.26% vs 13.68%, up 57 basis points
Net profit up 77.1% at Rs 27.1 crore vs Rs 15.3 crore
Sanghi Industries Q3 FY24 (Consolidated, YoY)
Revenue at Rs 189.11 crore vs Rs 132.76 crore, up 41.5% (Bloomberg estimate: Rs 285 crore)
Ebitda loss of Rs 22.79 crore vs Ebitda loss of Rs 17.9 crore (Bloomberg estimate: Rs 32 crore Ebitda loss)
Net loss at Rs 201.6 crore vs loss of Rs 144 crore (Bloomberg estimate: Rs 132 crore loss)
Bhansali Engineering Ploymers Q3 FY24 (Consolidated, YoY)
Revenue at Rs 291.8 crore vs Rs 338.9 crore, down 13.9%
Ebitda at Rs 46.77 crore vs Rs 41.33 crore, up 13.16%
Margin at 16.02% vs 12.19%, up 383 bps
Net profit at Rs 40.2 crore vs Rs 33.5 crore, up 20%
Craftsman Automation Q3 FY24 (Consolidated, YoY)
Revenue at Rs 1,129.7 crore vs Rs 749 crore, up 50.8% (Bloomberg estimate: Rs 1,170 crore)
Ebitda at Rs 220.2 crore vs Rs 158.28 crore, up 39.1% (Bloomberg estimate: Rs 239 crore)
Margin at 19.49% vs 21.13%, down 164 basis points (Bloomberg estimate: 20%)
Net profit at Rs 81.5 crore vs Rs 51.6 crore, up 57.9% (Bloomberg estimate: Rs 93 crore)
APL Apollo Tubes Q3 FY24 (Consolidated, YoY)
Revenue at Rs 4,177.8 crore vs Rs 4,327.1 crore, down 3.5% (Bloomberg estimate: Rs 4,245 crore)
Ebitda at Rs 279.6 crore vs Rs 272.8 crore, up 2.5% (Bloomberg estimate: Rs 291 crore)
Margin at 6.69% vs 6.3%, up 38 basis points (Bloomberg estimate: 7%)
Net profit at Rs 165.5 crore vs Rs 169.2 crore, down 2.2% (Bloomberg estimate: Rs 178 crore)
Macrotech Developers Q3 FY24 (Consolidated, YoY)
Revenue at Rs 2,930.6 crore vs Rs 1,773.8 crore, up 65.2% (Bloomberg estimate: Rs 2,459 crore)
Ebitda at Rs 882.7 crore vs Rs 403.8 crore, up 118.6% (Bloomberg estimate: Rs 625 crore)
Margin at 30.12% vs 22.76%, up 735 bps (Bloomberg estimate: 25%)
Net profit at Rs 505.2 crore vs Rs 405 crore, up 24.7% (Bloomberg estimate: Rs 370 crore)
Utkarsh Small Finance Bank Q3 FY24
NII up 22.6% at Rs 482.31 crore vs Rs 393.53 crore (YoY)
Net profit up 24.12% at Rs 116.06 crore vs Rs 93.5 crore (YoY) (Bloomberg estimate: Rs 109 crore)
GNPA at 3.04% vs 2.81%
NNPA at 0.19% vs 0.16%
Capri Global Capital Q3 FY24 (Consolidated)
Total income up 57.34% at Rs 605.55 crore vs Rs 384.85 crore (YoY)
Net profit up 81.67% at Rs 67.98 crore vs Rs 37.42 crore (YoY)
GNPA at 2.1% vs 1.96% (QoQ)
NNPA at 1.36% vs 1.32% (QoQ)
The board approved sub-division of each stock with face value Rs 2 into one equity share of face value Rs 1.
The board approved increasing the company's authorised share capital.
Dodla Dairy Q3 FY24 (Consolidated, YoY)
Revenue at Rs 746.84 crore vs Rs 675.43 crore, up 10.57% (Bloomberg estimate: Rs 743 crore)
Ebitda at Rs 82.83 crore vs Rs 53.61 crore, up 54.5% (Bloomberg estimate: Rs 82 crore)
Margin at 11.09% vs 7.93% up 315 basis points (Bloomberg estimate: 11%)
Net profit at Rs 41.33 crore vs Rs 35.39 crore, up 16.78% (Bloomberg estimate: Rs 51 crore)
Earnings In Focus
Aditya Birla Sun Life AMC, Adani Green Energy, Apollo Pipes, Bajaj Finance, Bharat Electronics, Bharat Petroleum Corporation, CSB Bank, GAIL, Garware Technical Fibres, Gateway Distriparks, Godfrey Phillips India, Heritage Foods, Indo Count Industries, Vodafone Idea, ITC, Jaiprakash Power Ventures, Latent View Analytics, L.G.Balakrishnan & Bros, Mahindra Logistics, Maharashtra Seamless, Marico, Muthoot Microfin, Nippon Life India Asset Management, NTPC, Nuvoco Vistas Corporation, Piramal Enterprises, Petronet LNG, Restaurant Brands Asia, R R Kabel, Stylam Industries, Tata Investment Corporation, UTI Asset Management Company, Venus Pipes & Tubes, and Voltamp Transformers.
Stocks To Watch
HDFC Bank- Life Insurance Corp. has received the Reserve Bank of India's nod for acquiring up to a 9.99% stake in HDFC Bank Ltd.
Adani Green Energy: The company raised Rs 2,337.5 crore via issuance of warrants. The warrants were allotted to Ardour Investment Holding on a private placement basis.
Adani Power: The company entered into a Memorandum of Understanding to sell two wholly owned subsidiaries to AdaniConnex Pvt. for Rs 540 crore. The power major will sell a 100% stake in Aviceda Infra Park Ltd. for Rs 190 crore and Innovant Buildwell Pvt. for Rs 350 crore to AdaniConnex.
DLF: The company entered a pact with three lenders for the purchase of bonds with Rs 600 crore face value. It entered a pact with Standard Chartered Bank, DB International (Asia), Deutsche Investments India for a total consideration of Rs 825 crore.
Laurus Labs: The company will form a 49:51 joint venture with Slovenia's Krka Pharma in Hyderabad.
Himatsingka Seide: The company's board approved a fundraise of up to Rs 400 crore via qualified institutional placement in one or more tranches.
Coal India: The company emerged as the lowest bidder for 300 MW solar project in Khavda, Gujarat.
Strides Pharma: The company's Singapore unit received US FDA approval for Pregabalin capsules.
Shriram Finance:. The company approved a change in the list of key managerial personnel. Accordingly, five senior management personnel will cease to be designated as KMP with effect from Jan. 25, 2024. The company also declared a second interim dividend of Rs 10 per equity share of face value of Rs 10 each.
SJVN: The company won the GUVNL auction for 100 MW Solar Project at Rs 2.54 per unit on a build-own and operate basis through a tariff based competitive bidding process of GUVNL Phase XXI.
Dhanlaxmi Bank: The bank received Reserve Bank of India's nod for extending JK Shivan's term as managing director and chief executive officer till his successor assumes office.
L&T Finance: The company appointed Sudipta Roy as the managing director and chief executive officer effective Jan. 24, 2024
Lemon Tree Hotels: The company announced its latest signing – Lemon Tree Hotel, Motihari, Bihar. The property, which will be franchised by Lemon Tree Hotels, is expected to open in FY25.
Jubilant Ingrevia: Jubilant Infrastructure Ltd. wholly owned subsidiary of the company has purchased 6.67% equity share in Forum I Aviation Pvt. from Max Ateev Ltd. Post-acquisition, JIL holds 9.12% equity shares in FAPL.
Associated Alcohols & Breweries: The company approved the incorporation of a wholly-owned subsidiary, Associated Alcohols & Breweries (Awadh) Ltd. The company’s subsidiary will be incorporated mainly for the green field project to be set up at Unnao Uttar Pradesh, for which the land acquisition is in process.
Oberoi Realty: The company appointed Nilesh Kushe as executive vice president – construction. Basav Mukherjee resigned from the post of chief executive officer of Leisure homes.
Shilpa Medicare: The Europe GMP inspection of its facility in Jadcherla, Telangana by AGES, Austria from Jan. 22 to Jan. 26 was concluded with two minor observations.
Adani Energy Solutions: The company incorporated new subsidiary for transmission, distribution and power supply business.
Yes Bank: The board approved transfer of investment banking and merchant banking business from Yes Securities to the company, effective Jan. 1.
Sarda Energy & Minerals: South Eastern Coalfields issued a letter of acceptance to a consortium, in which the company has 67% share, for re-opening, rehabilitating and operating Bartunga Hill high grade coal mine.
IPO Offerings
Nova Agritech: The public issue was subscribed 109.37 times on day 3. The bids were led by non-institutional investors (224.08 times), institutional investors (79.31 times), and retail investors (77.12 times).
Block Deals
Adani Ports and Special Economic Zone: Societe Generale sold 2.81 lakh shares (0.01%) at Rs 1120.6 apiece
Aurobindo Pharma: Societe Generale sold 1.07 lakh shares (0.01%) at Rs 1160.1 apiece.
BHEL: Societe Generale sold 5.15 lakh shares (0.01%) at Rs 209.9 apiece.
BPCL: Societe Generale sold 12.43 lakh shares (0.05%) at Rs 477.15 apiece.
Container Corp of India: Societe Generale sold 1.53 lakh shares (0.02%) at Rs 841.1 apiece, while Marshall Wace Investment Strategies Market Neutral Tops Fund bought 1.41 lakh shares (0.02%) at Rs 841.1 apiece.
D B Realty: Griffin Growth Fund VCC bought 34.82 lakh shares (0.64%) at Rs 253.05 apiece, while Trinity Opportunity Fund sold 34.82 lakh shares (0.64%) at Rs 253.05 apiece.
Dalmia Bharat: Societe Generale sold 2.34 lakh shares (0.12%) at Rs 2154.75 apiece, while Marshall Wace Investment Strategies bought 2.34 lakh shares (0.12%) at Rs 2154.75 apiece.
Devyani International: Societe Generale sold 8.27 lakh shares (0.06%) at Rs 176.25 apiece, while Marshall Wace Investment Strategies Eureka Fund bought 8.16 lakh shares (0.06%) at Rs 176.25 apiece.
FSN E-Commerce Ventures: Societe Generale sold 47.34 lakh shares (0.16%) at Rs 162.45 apiece, while Marshall Wace Investment Strategies Eureka Fund bought 45.46 lakh shares (0.15%) at Rs 162.45 apiece.
Grasim: Eriska Investment Fund Ltd. bought 8.1 lakh shares (0.12%) at Rs 2060 apiece, while Griffin Growth Fund Vcc sold 8.1 lakh shares (0.12%) at Rs 2060 apiece.
HCL Tech: Marshall Wace Investment Strategies Market Neutral Tops Fund bought 3.38 lakh shares (0.01%) at Rs 1576.4 apiece, while Societe Generale sold 3.38 lakh shares (0.01%) at Rs 1576.4 apiece.
ICICI Prudential Life Insurance Co: Societe Generale sold 6.79 lakh shares (0.04%) at Rs 488.55 apiece, while Marshall Wace Investment Strategies Market Neutral Tops Fund bought 6 lakh shares (0.04%) at Rs 488.55 apiece.
Indian Bank: Societe Generale sold 8.35 lakh shares (0.06%) at Rs 441.6 apiece.
Bulk Deals
Indiabulls Housing Finance: Plutus Wealth Management LLP bought 50 lakh shares (1.04%) at Rs 195.74 apiece, while Surbhi Investments And Trading Company Pvt. sold 43.72 lakh shares (0.91%) at Rs 195.88 apiece.
RailTel Corp of India: SW Capital Private Ltd. bought 18.35 lakh shares (0.57%) at Rs 439.63 apiece.
JSW Holdings: Sparrow Asia Diversified Opportunities Fund sold 84,000 lakh shares (0.75%) at Rs 5512.2 apiece.
Rama Steel Tubes: Hemali Pathik Thakkar sold 44.09 lakh shares (0.87%) at Rs 45.95 apiece.
Infibeam Avenues: Citadel Securities India Markets Private Limited bought 148.97 lakh shares (0.55%) at Rs 28.64 apiece.
Sangam (India): Think India Opportunities Master Fund Lp bought 6 lakh shares (1.19%) at Rs 449.99 apiece, while Think India Opportunities Master Fund Lp bought 6 lakh shares (1.19%) at Rs 450 apiece.
Salasar Techno Engg: Forest Vincom Pvt. bought 21.86 lakh shares (0.69%) at Rs 119.36 apiece.
PNB Housing Finance: Asia Opportunities V (Mauritius) Limited bought 2.56 crore shares (9.88%) at Rs 821 apiece, while Investment Opportunities V Pte. Limited sold 2.56 crore shares (9.88%) at Rs 821 apiece.
Bandhan Bank: Marshall Wace Investment Strategies - Eureka Fund bought 188.33 lakh shares (1.16%) at Rs 224.4 apiece.
Canara Bank: Marshall Wace Investment Strategies - Eureka Fund bought 91.46 lakh shares (0.5%) at Rs 454.3 apiece.
One 97 Communications: Marshall Wace Investment Strategies - Eureka Fund bought 40.89 lakh shares (0.64%) at Rs 753.75 apiece.
ACC: Societe Generale bought 1.1 lakh shares (0.05%) at Rs 2240.6 apiece.
Jio Financial Services: Bofa Securities Europe Sa sold 14.41 lakh shares (0.02%) at Rs 239.5 apiece.
Insider Trades
Poonawalla Fincorp: Promoter Rising Sun Holdings Pvt. bought 4.03 crore shares.
Who's Meeting Whom
Vedant Fashions: To meet analysts and investors on Jan. 31.
Waree Renewable Technologies: To meet analysts and investors on Jan. 31.
Welspun Living: To meet analysts and investors on Jan. 31.
Ashoka Buildcon: To meet analysts and investors on Feb. 8
Delhivery: To meet analysts and investors on Feb. 3
IRB Infrastructure Developers: To meet analysts and investors on Feb.1
Akzo Nobel India: To meet analysts and investors on Feb 7
PVR Inox: To meet analysts and investors on Jan. 31.
Olectra Greentech: To meet analysts and investors on Jan. 31.
J. Kumar Infraprojects: To meet analysts and investors on Jan. 31.
Carysil: To meet analysts and investors on Feb. 1
Trading Tweaks
Price band revised from 20% to 10%: Transformers and Rectifiers (India).
Price band revised from 10% to 5%: Dhanlaxmi Bank.
Ex-Date Dividend: 360 One Wam, Accelya Solutions, PCBL.
Record Date Dividend: 360 One Wam, Accelya Solutions, PCBL.
Moved into short-term ASM framework: Allied Digital Services, Dynamatic Technologies, HFCL, Swelect Energy Systems.
Moved out of short-term ASM framework: Shriram Pistons and Rings.
F&O Cues
Nifty February futures fell by 0.47% to 21,488.55 at a premium of 135.95 points.
Nifty February futures open interest up by 33%.
Nifty Bank February futures down by 0.35% to 45,291.65 at a premium of 425.5 points.
Nifty Bank February futures open interest up by 80.39%.
Nifty Options Feb. 1 Expiry: Maximum Call open interest at 22,500 and Maximum Put open interest at 20,000.
Bank Nifty Options Jan. 31 Expiry: Maximum Call open interest at 45,000 and Maximum Put open interest at 45,000.
Money Market Update
The Indian currency strengthened by two paise to close at Rs 83.11 against the U.S dollar.
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
