Stocks To Watch: Reliance, ICICI Bank, HUL, Tata Steel, RBL Bank, Paytm, HFCL, Zee, KPI Green Energy
Here are the stocks to watch before going into trade today.
Equity and derivatives markets will have normal working hours from 9:15 a.m. to 3:30 p.m. on Saturday, without the planned disaster recovery movements, according to national bourses.
Tata Steel Ltd., HFCL Ltd., Hindustan Unilever Ltd., Reliance Industries Ltd. and RBL Bank Ltd. will be the major stocks to watch on Saturday.
Tata Steel said that it will commence a statutory consultation as part of its plan to transform and restructure its U.K. business, while HFCL received a purchase order worth of Rs 623 crore from a telecom service provider for the supply of 5G telecom networking equipment.
Hindustan Unilever, Reliance Industries, and RBL Bank will be in focus as they announced their quarterly results on Friday.
India's benchmark indices snapped a three-day losing streak to end higher on Friday on likely short covering and bargain hunting by investors. However, for both indices, it was the worst week in two months.
The S&P BSE Sensex settled 496.37 points, or 0.70%, higher at 71,683.23, while the NSE Nifty 50 rose 160.15 points, or 0.75%, to end at 21,622.40. The Sensex hit an intraday high of 71,895.64, and the Nifty 50 touched 21,670.60.
Overseas investors remained net sellers of Indian equities for the third consecutive session on Friday. Foreign portfolio investors offloaded equities worth Rs 3,689.7 crore, while domestic institutional investors stayed net buyers for the fourth straight day and mopped up stocks worth Rs 2,638.4 crore, the NSE data showed.
The Indian rupee strengthened 5 paise to close at Rs 83.07 against the U.S. dollar on Friday.
Equities in the U.S pushed higher on Friday as a drop in Treasury volatility continued to bode well for risk-taking on Wall Street, Bloomberg reported. The S&P 500 index rose to hit its new lifetime closing high of 4,839.81 points driven by a rally in technology stocks.
Other Asian and European indices ended on a mixed note on Friday as investors assessed Japan's inflation data and European Central Bank's commentary.
Japan's headline inflation rate cooled to 2.6% from 2.8% in November while core inflation rate — which strips out prices of fresh food — fell to 2.3% from November’s 2.5%.
European Central Bank president Christine Lagarde signalled that borrowing costs would come down in the summer rather than spring.
Brent crude was trading 0.68% lower at $78.56 a barrel. Gold was higher by 0.30% at $2,029.49 an ounce.
Earnings Post Market Hours
Hindustan Unilever Q3 FY24 (Consolidated, YoY)
Revenue at Rs 15,567 crore vs Rs 15,597 crore, down 0.2% (Bloomberg estimate: Rs 15,642.18 crore).
Ebitda at Rs 3,666 crore vs Rs 3,694 crore, down 0.76% (Bloomberg estimate: Rs 3,734.23 crore).
Margin at 23.54% vs 23.68%, down 13 bps (Bloomberg estimate: 23.90%).
Net profit at Rs 2,508 crore vs Rs 2,481 crore, up 1.08% (Bloomberg estimate: Rs 2,664.50 crore).
Reliance Industries Q3 FY24 (Consolidated, YoY)
Revenue at Rs 2,25,086 crore vs Rs 2,31,886 crore, down 2.98% (Bloomberg estimates Rs 2,33,892.84 crore)
Ebitda at Rs 40,656 crore vs Rs 40,968 crore, down 0.77% (Bloomberg estimates Rs 40,412.86 crore)
Margin at 18.06% vs 17.66% (Bloomberg estimates 17.30%)
Net profit at Rs 17,265 crore vs Rs 17,394 crore, down 0.74% (Bloomberg estimate 18,080.30 crore)
RBL Bank Q3 FY24 (Standalone, YoY)
NII at Rs 1,545.9 crore vs Rs 1,277.3 crore, up 21% (YoY).
Net profit at Rs 233.1 crore vs Rs 208.9 crore, up 11.6% (YoY) (Bloomberg estimate: Rs 315.7 crore).
GNPA at 3.12% vs 3.12% (QoQ).
NNPA at 0.80% vs 0.78% (QoQ).
One 97 Communications Q3 FY24 (Consolidated, QoQ)
Revenue at Rs 2850.5 crore vs Rs 2518.6 crore, up 13.17% (Bloomberg estimate Rs 2,727 crore)
Ebitda loss at Rs 159.5 crore vs loss of Rs 231 crore (Bloomberg estimate Rs -52.57 crore)
Net loss at Rs 221.7 crore vs loss of Rs 291.7 crore. (Bloomberg estimate Rs -254.9 crore)
CreditAcess Grameen Q3 FY24 (Consolidated, YoY)
Revenue at Rs 1,292.2 crore vs Rs 907.9 crore, up 42.32%.
Net profit at Rs 353.43 crore vs Rs 215.76 crore, up 63.8%.
Board approves fundraise of up to Rs 2,000 crore via NCDs in different tranches.
CESC Q3 FY24 (Consolidated, YoY)
Revenue at Rs 3,244 crore vs Rs 3,129 crore, up 3.67%.
Ebitda at Rs 346 crore vs Rs 496 crore, down 30.25%.
Ebitda margin at 10.66% vs 15.85%.
Net profit at Rs 301 crore vs Rs 336 crore, down 10.41%.
Board approves interim dividend of Rs 4.5 per share.
Tejas Networks Q3 FY24 (Consolidated, YoY)
Revenue at Rs 559.96 crore vs Rs 274.55 crore, up 103.95%.
Ebitda loss at Rs 7.51 crore vs profit of Rs 8.01 crore.
Net loss at Rs 44.87 crore vs loss of Rs 15.15 crore.
Earnings In Focus
Indian Renewable Energy Development Agency, ICICI Bank, Kotak Mahindra Bank, Union Bank of India, IDBI Bank, Persistent Systems, JK Cement, Jammu and Kashmir Bank, Can Fin Homes, Waaree Renewable Technologies, Rajratan Global Wire.
Stocks To Watch
Tata Steel: The company will commence statutory consultation as part of its plan to transform and restructure its U.K. business.
HFCL: The company received a purchase order worth of Rs 623 crore from a telecom service provider for the supply of 5G telecom networking equipment.
Zee Entertainment: The company issued a clarification on media reports of Sony's board to take a call on a $10 bn merger with Zee Entertainment on Friday. It said that it is not aware of any board meeting held or proposed to be held by Sony India and added that the company is committed to the merger with Sony.
KPI Green Energy: The company’s unit received an order for a 5.60 MW solar project from a domestic entity.
Hardwyn India: The company's subsidiary Slim-X plans to generate -revenue of Rs 100 crore in the next two years.
One 97 Communication: The company approved joint development pact with ACE Builders for the development of the IT/ITES complex in Noida and approved the incorporation of one or more subsidiaries in GIFT City.
Shilpa Medicare: The company's NDA Product PEMRYDI RTU (Pemetrexed Injection) received product-specific code J* from the U.S. Centers for Medicare & Medicaid Services. PEMRYDI RTU is used as a drug in the treatment of non-small cell lung cancer in combination with other chemotherapy agents.
Star Health and Allied Insurance: N. Chittibab resigned from the position of chief innovation officer and key managerial personnel.
Navkar Corp: The company said that there are no negotiations taking place that require disclosure under the SEBI.
Prataap Snacks: The company issued a clarification that it is not in negotiations with Haldiram's for a stake sale.
Rico Auto Industries: The company unit signed a licensing agreement for the transfer of technology with DRDO.
Fortis Healthcare: The company's unit Agilus Diagnostics received notice from Delhi's anti-corruption bureau in the Mohalla Clinics’ case.
Life Insurance Corp: The company announced the new product launch of LIC’s Jeevan Dhara-II.
Prakash Industries: The company received permission to establish Bhaskarpara commercial coal mine in Chhattisgarh from the Chhattisgarh Environment board.
All Cargo Logistics: The company’s unit incorporated a new wholly owned subsidiary in the name of U.K. Terminals.
Borosil: The company acquired an additional 0.75% stake in Goel Scientific Glass Works at a total consideration of Rs 14.39 lakh. The company’s shareholding in Goel Scientific has increased from 94.73% to 95.48%.
IPO Offerings
EPACK Durable: The public issue was subscribed 0.77 times on day 1. The bids were led by retail investors (1.17 times), non-institutional investors (0.82 times) and institutional investors (0.01 times).
Block Deals
IndusInd Bank: BNP Paribas Arbitrage sold 25.5 lakh shares (0.32%); Goldman Sachs (Singapore) PTE ODI bought 25.5 lakh shares (0.32%) at Rs 1,560 apiece.
Bulk Deals
Liberty Shoes: Societe Generale bought 1.05 lakh shares (0.62%) at Rs 370.78 apiece.
Insider Trades
Wardwizard Innovations and Mobility: Promoter Wardwizard solutions India sold 21 lakh shares on Jan 17.
Hi-Tech Pipes: Promoter Ajay Kumar and Sons sold 41.13 lakh shares on Jan. 15, 17 and Praveen Bansal sold 15 lakh shares on Jan 17.
Pledge Share Details
Aurobindo Pharma: Promoter RPR Sons Advisors and P Suneela Rani (jointly holding) revoked pledge of 4 lakh shares on Jan. 18 and created a pledge of 2.5 lakh shares on Jan. 16, respectively.
Who’s Meeting Whom
Sterling and Wilson Renewable Energy: To meet analysts and investors on Jan. 24.
Snowman Logistics: To meet analysts and investors on Jan. 30.
Angel One: To meet analysts and investors on Jan. 24 and 31.
Trading Tweaks
Ex/record date dividend: MAS Financial Services.
Moved into short-term ASM framework: Oracle Financial Services Software.
Moved out of short-term ASM framework: Century Textiles and Industries, Dish TV India, J. Kumar Infraprojects, Olectra Greentech.
F&O Cues
Nifty January futures up by 0.69% to 21,672.15 at a premium of 49.75 points.
Nifty January futures open interest up by 0.7%.
Nifty Bank January futures down by 0.06% to 45,797.20 at a premium of 96.05 points.
Nifty Bank January futures open interest down by 1.6%.
Nifty Options Jan 25 Expiry: Maximum Call open interest at 22,500 and Maximum Put open interest at 20,500.
Bank Nifty Options Jan 25 Expiry: Maximum Call Open Interest at 50,000 and Maximum Put open interest at 43,000.
Securities in the ban period: Aditya Birla Fashion and Retail, Balrampur Chini Mills, Delta Corp, Hindustan Copper, Indian Energy Exchange, National Aluminium, Oracle Financial Services Software, Polycab India, RBL Bank, SAIL, Zee Entertainment.
