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Economic Survey 2022 | Here are the key highlights from the survey.

Finance minister Nirmala Sitharaman tabled the Economic Survey 2022 on January 31, soon after President’s address to both Houses of Parliament. The survey, presented a day before the Union Budget, details the state of economy and reforms that should be undertaken to accelerate growth.

Finance minister Nirmala Sitharaman tabled the Economic Survey 2022 on January 31, soon after President’s address to both Houses of Parliament. The survey, presented a day before the Union Budget, details the state of economy and reforms that should be undertaken to accelerate growth. Here are the key highlights of the report.

Two years into the COVID-19 pandemic, the global economy continues to be plagued by uncertainty, with resurgent waves of mutant variants, supply-chain disruptions, and a return of inflation in both advanced and emerging economies. These have been difficult times for the world economy. It is not just about the immediate disruptions and uncertainty caused by repeated waves of the pandemic, but also the longer-term uncertainty about the post-Covid world. The theme of this Economic Survey, therefore, relates to the art and science of policymaking under conditions of extreme uncertainty.

India’s GDP is projected to grow in real terms by 8.0-8.5 percent in 2022-23. The economy is expected to grow at 9.2 percent in the current fiscal. The Indian economy, as seen in quarterly estimates of GDP, has been staging a sustained recovery since the second half of 2020-21. Although the second wave of the pandemic in April-June 2021 was more severe from a health perspective, the economic impact was muted compared to the national lockdown of the previous year. As per the survey, the growth in 2022-23 will be supported by widespread vaccine coverage, gains from supply-side reforms and easing of regulations, robust export growth and availability of fiscal space to ramp up capital spending.

The agricultural sector was the least impacted by the pandemic. It is estimated to grow 3.9 percent in 2021-22 on top of 3.6 percent and 4.3 percent, respectively, in the previous two years.

Overall, the sector is estimated to grow by 8.2 percent in 2021-22.

Imports are expected to grow by 29.4 per cent in 2021-22, surpassing corresponding pre-pandemic levels.

Startups in India have grown remarkably over the last six years. India has now become the third largest startup ecosystem in the world after the US and China.

Unified Payments Interface (UPI) is currently the single largest retail payment system in the country in terms of volume of transactions, with 4.6 billion transactions worth Rs 8.26 lakh crore carried out in December 2021.

The top five sectors which capture around 83 percent of the aggregate pipeline value include: Roads (27 percent) followed by Railways (25 percent), Power (15 percent), oil & gas pipelines (8 percent) and Telecom (6 percent).

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Sensex jumps 813 points ahead of tomorrow's Union Budget. 31January2022

Benchmark indices ended a range bound trading session with strong gains ahead on Monday. All sectoral indices on the NSE ended in the green with realty, IT and consumer durable space moving the most. The Nifty closed below the 17,350 level after hitting a day's of 17,410 in intraday trade.

As per the provisional closing data, the barometer index, the S&P BSE Sensex, surged 813.94 points or 1.42% at 58,014.11. The Nifty 50 index soared 237.9 points or 1.39% at 17,339.25.

The broader market traded with strong gains. The S&P BSE Mid-Cap index rose 1.76% while the S&P BSE Small-Cap index added 0.99%.

Buyers outnumbered sellers. On the BSE, 1,862 shares rose and 1,673 shares fell. A total of 152 shares were unchanged.

Economy:

Finance Minister Nirmala Sitharaman tabled the Economic Survey 2021-22 in the Lok Sabha. The Survey forecasts FY23 real GDP growth at 8-8.5%. FY22 GDP growth is seen at 9.2%.

Lok Sabha is adjourned for the day. Sitharaman will present the Union Budget for the year 2022-2023 tomorrow (1 February 2022) in the Lok Sabha and its copy will be laid on the Table of the Rajya Sabha soon thereafter. This year it will be a paperless budget and the Session will be held amidst Covid protocol.

With a view to ensure Covid safety protocol, both the Houses of Parliament will function in shifts from Wednesday (2 February 2022). The Rajya Sabha proceedings will be held from 10 AM to 3 PM and Lok Sabha from 4 PM to 9 PM. The first part of the Budget Session will continue till 11th of February and it will have 10 sittings. This time in the Rajya Sabha, the Zero Hour, which usually runs for one hour, has been reduced to 30 minutes. After a month-long recess, the second part of the session will begin from 14th of March and conclude on 8th of April this year in which there will be 19 sittings.

Growth will be supported by widespread vaccine coverage, gains from supply-side reforms and easing of regulations, robust export growth, and availability of fiscal space to ramp up capital spending, the Economic Survey said. The projection is based on the assumption that there will be no further debilitating pandemic related economic disruption.

As per the survey, agriculture sector is likely to grow by 3.9% in 2021-22 after growing 3.6% in the previous year. India's consumption story is intact despite third wave. Has grown 7% in 2021-22 with significant kitty coming from government spending. Fiscal support as well as the health response caused the fiscal deficit and government debt to rise in 2020-21. India has third largest startup ecosystem in the world after US and China.

India's capital markets, have done exceptionally well and have allowed record mobilization of risk capital for Indian companies. India's banks are well capitalized and the overhang of NPAs seems to have structurally declined even allowing for some lagged impact of the pandemic. In April-November 2021, IPOs of 75 companies have listed, garnering Rs 89,066 crore, as compared to 29 companies raising Rs 14,733 crore during April-November 2020, indicating a rise of 504.5% in fund mobilization.

Primary Market:

The initial public offer (IPO) of Adani Wilmar received bids for over 179.22 crore shares as against 12.25 crore shares on offer, according to stock exchange data at 11:03 IST on Monday, (31 January 2022). The issue was subscribed 14.63 times.

The issue opened for bidding on 27 January 2022 and it will close today, 31 January 2022. The price band of the IPO is fixed at Rs 218-230. An investor can bid for a minimum of 65 equity shares and in multiples thereof. The IPO comprises a fresh issue of upto Rs 3,600 crore (including an anchor portion of 4,08,65,217 equity shares).

New Listing:

Shares of AGS Transact Technologies were currently trading at Rs 161.70 on the BSE, at a discount of 7.6% as compared to the issue price of Rs 175. The scrip was listed at Rs 176, representing a premium of 0.57% to the initial public offer (IPO) price. So far, the scrip has hit a high of Rs 181.85 and a low of Rs 168.05. Over 11.53 lakh shares of the company have changed hands in the counter till now. The initial public offer (IPO) of AGS Transact Technologies received bids for 22,34,74,265 shares as against 2,86,74,696 shares on offer, according to stock exchange data. The issue was subscribed 7.79 times.

The issue opened for bidding on 19 January 2022 and closed on 21 January 2022. The price band of the IPO is fixed at Rs 166-175.

Stocks in Spotlight:

Sun Pharmaceutical Industries rose 0.92%. The drug company's consolidated net profit grew 11.13% to Rs 2,058.80 crore on a 11.61% rise in total revenue from operations to Rs 9,863.06 crore in Q3 FY22 over Q3 FY21. Consolidated profit before tax (PBT) jumped 14.01% to Rs 2,466.19 crore in Q3 FY22 from Rs 2,163.05 crore in Q3 FY21. India formulation sales stood at Rs 3,167.60 crore, rising 15% over same quarter last year. The US formulation sales was at $397 million, recording a growth of 6% over Q3 last year. The emerging markets formulation sales stood at $239 million, growing 17% over Q3 last year. The rest of world formulation sales was at $181 million, rising 3% over same quarter last year. The R&D investments stood at Rs 547.10 crore as compared to Rs 559.50 crore for Q3 FY21. The EBITDA was at Rs 2,557.40 crore, up 8% over Q3 last year, with an EBITDA margin at 26.1%.

UPL fell 1.78%. The company's consolidated net profit soared 24.89% to Rs 1,179 crore on a 23.78% increase in revenue from operations to Rs 11,297 crore in Q3 FY22 over Q3 FY21. EBITDA grew 21% to Rs 2,666 crore in Q3 FY22 over Rs 2,209 crore in Q3 FY21. The rise in EBITDA was on the back of house manufacturing with backward integration linkages supported by effective raw material sourcing and overall cost management. EBITDA margin fell 61 bps to 23.6% in Q3 FY22 as against 24.2% in Q3 FY21.

IndusInd Bank fell 3.4%. The private sector bank's net profit increased by 36.18% to Rs 1161.27 crore in Q3 FY22 from Rs 852.76 crore in Q3 FY21. The bank's total income in the third quarter ended December 2021 rose by 7.4% YoY to Rs 9614.27 crore. The bank's operating profit before provisions and contingencies for the quarter increased by 7.8% year on year to Rs 3205.07 crore. Standalone profit before tax stood at Rs 1551 crore in Q3 FY22, 38.5% higher than Rs 1,119.76 crore.

Britannia Industries added 0.74%. The FMCG company's consolidated net profit skid 18.4% to Rs 369.18 crore on a 13.7% increase in net sales to Rs 3,530.70 crore in Q3 FY22 over Q3 FY21. Consolidated profit before tax (PBT) dropped 17.7% to Rs 505.40 crore in Q3 FY22 from Rs 613.73 crore in Q3 FY21.

Tata Coffee rose 1.69% after the company's consolidated net profit jumped 38.4% to Rs 69.46 crore, driven by improved operating performance in the value-added businesses. Net sales grew by 17.5% to Rs 626.07 crore in Q3 FY22 over Q3 FY21. Consolidated profit before tax (PBT) surged 34.9% to Rs 91.72 crore in Q3 FY22 from Rs 67.98 crore in Q3 FY21.

Bajaj Healthcare declined 0.69%. The company's standalone net profit dropped 34% to Rs 17.45 crore on a 6% decline in net sales to Rs 167.57 crore in Q3 FY22 over Q3 FY21. Revenues from operations slipped on account of a drop in the sales volume of ascorbic acid (Vitamin C) & CH base.

Blue Dart Express rose 2.52% to Rs 6900 after the company's consolidated net profit rose 29.48% to Rs 123.42 crore on 20.98% rise in net sales to Rs 1254.75 crore in Q3 FY22 over Q3 FY21. Profit before tax (PBT) rose 43% to Rs 165.38 crore in Q3 FY22 over Q3 FY21. EBITDA rose 8.3% year-on-year to Rs 288 crore in Q3 FY22. EBITDA margin stood at 22.7% in Q3 FY22 as against 25.5% in Q3 FY21. The company's board has declared interim dividend of Rs 25 per share for the financial year ended 2021-22.

Multi Commodity Exchange of India (MCX) fell 1.26% after the company reported a 52% fall in consolidated net profit to Rs 4.46 crore on a 17% decline in total income to Rs 104.06 crore in Q3 FY22 over Q3 FY21. EBITDA in the third quarter was Rs 52.78 crore, down by 28% from Rs 73.45 crore in Q3 FY21. The company made a provision of Rs 11.01 crore for tax during the quarter. It had written back tax provisions amounting to Rs 4.21 crore in the same period last year. The average daily turnover (ADT) in overall commodity futures stood at Rs 24,556 crore in Q3 FY 21-22 vis-à-vis Rs 32,684 crore in the corresponding quarter of FY 20-21. The notional ADT of options increased by 965% to Rs 8,610 crore in Q3 FY21-22 from Rs 808 crore during Q3 FY20-21.

Global Markets:

European markets were trading higher while Asian stocks advanced on Monday with markets in mainland China and South Korea closed for the Lunar New Year eve. Regionally, markets in Hong Kong and Singapore are also set to close early on Monday ahead of the Lunar New Year holidays.

Official data released Sunday showed Chinese factory activity growth slowing in January. The country's official manufacturing Purchasing Managers' Index for January was at 50.1, just above the 50 level that separates growth from contraction. January's reading compared against December's figure of 50.3.

Meanwhile, a private survey released over the weekend showed Chinese manufacturing activity contracting in January. The Caixin/Markit manufacturing PMI came in at 49.1 for the month.

U.S. stocks rallied on Friday, notching its best day so far in 2022 after another zigzag session, bolstered by a marked rebound in tech shares. Shares of Apple jumped after a stellar quarterly result. The company reported its largest single quarter in terms of revenue ever even amid supply challenges and the lingering effects of the pandemic.

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Nifty crosses 17,400 mark; breadth positive. 31January2022

The benchmark indices traded near the day's high with strong gains in mid afternoon trade. All sectoral indices on the NSE traded in the green. The Nifty traded above the 17,400 mark.

The barometer index, the S&P BSE Sensex, surged 1,025 points or 1.79% at 58,225.11. The Nifty 50 index soared 305.05 points or 1.78% at 17,407.25.

The broader market traded with strong gains. The S&P BSE Mid-Cap index rose 1.83% while the S&P BSE Small-Cap index added 1.13%.

Buyers outnumbered sellers. On the BSE, 1,926 shares rose and 1,533 shares fell. A total of 162 shares were unchanged.

Economy:

Finance Minister Nirmala Sitharaman tabled the Economic Survey 2021-22 in the Lok Sabha. The Survey forecasts FY23 real GDP growth at 8-8.5%. FY22 GDP growth is seen at 9.2%.

Buzzing Index:

The Nifty Metal index added 0.59% to 5,498.35, rising for second trading session. The metal index added 1% in two days.

APL Apollo Tubes (up 4.88%), Jindal Steel & Power (up 1.39%), Steel Authority of India (up 1.03%), NMDC (up 0.76%) and Hindalco Industries (up 0.67%) were the top gainers. Among the other gainers were Tata Steel (up 0.59%), Hindustan Zinc (up 0.46%) and JSW Steel (up 0.39%) were top gainers in metal space.

Stocks in Spotlight:

UPL rose 1.28% to Rs 800.70 after the company's consolidated net profit soared 24.89% to Rs 1,179 crore on a 23.78% increase in revenue from operations to Rs 11,297 crore in Q3 FY22 over Q3 FY21. EBITDA grew 21% to Rs 2,666 crore in Q3 FY22 over Rs 2,209 crore in Q3 FY21. The rise in EBITDA was on the back of house manufacturing with backward integration linkages supported by effective raw material sourcing and overall cost management. EBITDA margin fell 61 bps to 23.6% in Q3 FY22 as against 24.2% in Q3 FY21.

Tata Coffee rose 1.25% to Rs 215.50 after the company's consolidated net profit jumped 38.4% to Rs 69.46 crore, driven by improved operating performance in the value-added businesses. Net sales grew by 17.5% to Rs 626.07 crore in Q3 FY22 over Q3 FY21. Consolidated profit before tax (PBT) surged 34.9% to Rs 91.72 crore in Q3 FY22 from Rs 67.98 crore in Q3 FY21.

Numbers to Track:

The yield on 10-year benchmark federal paper fell to 6.712% as compared with 6.768% at close in the previous trading session.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 74.6850, compared with its close of 75.07 during the previous trading session.

MCX Gold futures for 4 February 2022 settlement fell 0.08% to Rs 47,573.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, fell 0.24% to 97.037.

In the commodities market, Brent crude for March 2022 settlement rose 64 cents or 0.72% at $89.16 a barrel.

Global Markets:

Shares in Europe and Asia advanced on Monday. Markets in mainland China and South Korea were closed for the Lunar New Year eve. Regionally, markets in Hong Kong and Singapore also closed early on Monday ahead of the Lunar New Year holidays.

Meanwhile, a private survey released over the weekend showed Chinese manufacturing activity contracting in January. The Caixin/Markit manufacturing PMI came in at 49.1 for the month.

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Sun Pharmaceutical Industries, Tata Coffee gains and Amber Enterprises spurts after Q3 PAT. 31 January 2022

Sun Pharmaceutical Industries Q3 PAT spurts 11% YoY to Rs 2,059 cr.

Consolidated profit before tax (PBT) jumped 14.01% to Rs 2,466.19 crore in Q3 FY22 from Rs 2,163.05 crore in Q3 FY21.

On a standalone basis, the company's net profit advanced 10.38% to Rs 515.43 crore on a 2.55% decline in total revenue from operations to Rs 3,770.66 crore in Q3 FY22 over Q3 FY21.

Sun Pharmaceutical Industries has declared an interim dividend of Rs 7 per equity share of Re 1 each of the company for the financial year ending on 31 March 2022.

Further, the board of the company has fixed on Thursday, 10 February 2022 as the record date to determine the names of the equity shareholders, who shall be entitled to receive payment towards interim dividend of the company for the financial year 2021-22. The payment of the interim dividend would be made to the eligible shareholders on or before 22 February 2022.

Tata Coffee gains after Q3 PAT spurts 38% YoY to Rs 69 cr.

The group's consolidated profit for Q3 FY22 is higher at Rs 69.46 crore driven by improved operating performance in the value-added businesses.

Consolidated total income for the quarter was higher at Rs 634 crore as compared to Rs 538 crore for the corresponding quarter of the previous year, registering an increase of 18% driven primarily by improved performance in the value-added businesses. Consolidated profit before tax (PBT) surged 34.9% to Rs 91.72 crore in Q3 FY22 from Rs 67.98 crore in Q3 FY21.

Amber Enterprises spurts after Q3 PAT rises 19% YoY to Rs 32 cr.

On a consolidated basis, profit before tax (PBT) rose 7.45% to Rs 42.84 crore in Q3 December 2021 over Q3 December 2020. Operating EBIDTA increased 19% to Rs 74 crore during the period under review. Operating EBIDTA stood at 7.6% in Q3 December 2021 as against 8.2% in Q3 December 2020.

Commenting on the results and performance for Q3 & 9MFY22, Jasbir Singh, chairman & CEO of Amber Enterprises India said: I'm pleased to report that on all metrics, including Revenue, EBITDA, and PAT, we were able to surpass the pre-pandemic level for the quarter. This demonstrates the customers' positive demand prospects. Rising raw material prices and supply chain issues continued to plague the quarter. Amber has been able to pass on higher raw material prices to the customers and channel inventory levels are being managed by effective supply chain planning in line with growth expectations.

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Barometers hit day's high; VIX spurts 6%. 31January2022

The domestic equity barometers hit fresh intraday high in early afternoon trade, tracking positive Asian stocks. The Nifty was trading near the 17,350 level. PSU banks were in demand.

The barometer index, the S&P BSE Sensex, was up 975.4 points or 1.71% to 58,175.63. The Nifty 50 index advanced 284.60 points or 1.66% to 17,386.55.

In the broader market, the S&P BSE Mid-Cap index rose 1.49% while the S&P BSE Small-Cap index gained 0.94%.

The market breadth was positive. On the BSE, 1,943 shares rose and 1,465 shares fell. A total of 169 shares were unchanged.

Economy:

The Budget Session of Parliament begins today (31 January 2022). Economic Survey 2021-22 will also be tabled today. Finance Minister, Nirmala Sitharaman, will present the Union Budget for the year 2022-2023 tomorrow (1 February 2022) in the Lok Sabha and its copy will be laid on the Table of the Rajya Sabha soon thereafter. This year it will be a paperless budget and the Session will be held amidst Covid protocol.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 5.95% to 21.93. The Nifty 24 February 2022 futures were trading at 17,389.05, at a premium of 2.5 points as compared with the spot at 17,386.55.

The Nifty option chain for 24 February 2022 expiry showed maximum Call OI of 19.8 lakh contracts at the 18,000 strike price. Maximum Put OI of 36.8 lakh contracts was seen at 16,500 strike price.

Buzzing Index:

The Nifty PSU Bank index added 2.25% to 2,962.15. The index had declined 0.36% to end at 2,896.95 on Friday.

Among the index constituents, Indian Bank (up 6%), Canara Bank (up 5.04%), UCO Bank (up 2.23%), SBI (up 2.16%), Bank Of Baroda (up 1.94%), Punjab National Bank (up 1.59%), Union Bank of India (up 1.17%) and Indian Overseas Bank (up 0.98%) advanced while Bank of India declined 2.17%.

Stocks in Spotlight:

Gujarat State Fertilizers & Chemicals (GSFC) added 0.98% to Rs 128.75. The company reported a 152% jump in consolidated net profit to Rs 245.53 crore in Q3 FY22 from Rs 97.25 crore posted in Q3 FY21.

Greenpanel Industries advanced 3.91% to Rs 526.80 after the company informed about the resumption of manufacturing operations at its MDF plant at Chittoor, Andhra Pradesh, following the installation of mat heating system. Addition of the above machinery is likely to result in an increase in production capacity of the said plant from existing 3,60,000 CBM to revised 4,44,000 CBM (approximately) per annum.

Tata Coffee added 1.15% to Rs 215.30. The company's consolidated net profit jumped 38.4% to Rs 69.46 crore on a 17.5% increase in net sales to Rs 626.07 crore in Q3 FY22 over Q3 FY21.

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Indices trade sideways with strong gains. 31January2022

Market Update

Benchmark indices traded range bound with strong gains in mid morning trade, tracking positive Asian stocks. The Nifty hovered below 17,350 level. All the sectoral indices on the NSE traded in green.

The barometer index, the S&P BSE Sensex, jumped 745.57 points or 1.3% at 57,945.27. The Nifty 50 index advanced 223.55 points or 1.31% at 17,325.90.

In the broader market, the S&P BSE Mid-Cap index rose 1.37% while the S&P BSE Small-Cap index gained 0.84%.

The market breadth was positive. On the BSE, 1,913 shares rose and 1,429 shares fell. A total of 160 shares were unchanged.

Economy:

Primary Market:

The initial public offer (IPO) of Adani Wilmar received bids for over 19.98 crore shares as against 12.25 crore shares on offer, according to stock exchange data at 11:03 IST on Monday, (31 January 2022). The issue was subscribed 1.63 times.

Buzzing Index:

The Nifty Pharma index added 1.88% to 13,226.65, rising for second trading session. The pharmaceutical index added nearly 3% in two days.

Biocon (up 3.35%), Dr. Reddy's Laboratories (up 3.29%), Cadila Healthcare (up 3.26%), Aurobindo Pharma (up 2.68%), Divi's Laboratories (up 2.49%), Laurus Labs (up 2.11%) and IPCA Laboratories (up 1.99%) were top gainers in pharmaceutical space.

Global Markets:

Asian stocks advanced on Monday with markets in mainland China and South Korea closed for the Lunar New Year eve. Regionally, markets in Hong Kong and Singapore are also set to close early on Monday ahead of the Lunar New Year holidays.

Meanwhile, a private survey released over the weekend showed Chinese manufacturing activity contracting in January. The Caixin/Markit manufacturing PMI came in at 49.1 for the month.

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NTPC And Blue Dart Express jumps after Q3 PAT. 31January2022

Blue Dart Express jumps after Q3 PAT rises 29% YoY to Rs Rs 123 cr.

On a consolidated basis, profit before tax (PBT) rose 43% to Rs 165.38 crore in Q3 December 2021 over Q3 December 2020. EBITDA rose 8.3% year-on-year to Rs 288 crore in Q3 December 2021. EBITDA margin stood at 22.7% in Q3 December 2021 as against 25.5% in Q3 December 2020.

On a standalone basis, the company's net profit rose 39.86% to Rs 122.18 crore on 21.24% rise in net sales to Rs 1,254.75 crore in Q3 December 2021 over Q3 December 2020. EBITDA rose 15% year-on-year to Rs 211.70 crore in Q3 December 2021. EBITDA margin stood at 16.8% in Q3 December 2021 as against 17.7% in Q3 December 2020.

The company's board has declared interim dividend of Rs 25 per share for the Financial Year 2021-2022. Dividend will be paid to the shareholders on or after 24 February 2022.

NTPC Q3 PAT climbs 25% YoY to Rs 4132 cr.

Profit before tax rose 51.87% to Rs 5409.01 crore in Q3 FY22 over Q3 FY21. Total expenses rose 12.54% year-on-year to Rs 24428.12 in Q3 FY22. Total fuel cost climbed 23.17% to Rs 15631.96 crore in Q3 FY22 over Q3 FY21.

On consolidated basis, total income was Rs 33,783.62 crore in Q3 FY22 and Rs 97,269.89 crore in 9M FY22 as against Rs 28,387.27 crore and Rs 83,859.59 crore during the previous corresponding periods of last year. PAT was Rs 4,626.11 crore in Q3 FY22 and Rs 11,760.78 crore in 9M FY22 as against Rs 3,876.36 crore and Rs 10,319.91 crore during the previous corresponding periods of last year, registering an increase of 19.34% and 13.96% respectively.

On the operational front, NTPC's gross power generation for the quarter ended December 2021 was 72.700 billion units (BU) compared to 65.418 BU in quarter ended December 2020. The Group's total installed capacity increased to 67,757.42 MW as on 30 December 2021 as against 62,975 MW as on 30 December 2020.

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Nifty nears 17,350; IT stocks rally. 31January2022

Benchmark indices traded with strong gains in morning trade, tracking positive Asian stocks. The Nifty hovered at 17,350 level. All the sectoral indices on the NSE traded in green.

The barometer index, the S&P BSE Sensex, jumped 810.38 points or 1.42% at 58,010.27. The Nifty 50 index advanced 244.05 points or 1.43% at 17,346.90.

In the broader market, the S&P BSE Mid-Cap index rose 1.47% while the S&P BSE Small-Cap index gained 1.14%.

The market breadth was strong. On the BSE, 2,103 shares rose and 1,151 shares fell. A total of 144 shares were unchanged.

Economy:

Results Today:

Tata Motors (up 0.64%), BPCL (up 2.19%), Indian Oil Corporation (up 1.21%), UPL (up 2.09%) and Sun Pharmaceutical Industries (up 1.71%) are Nifty companies that will announce their quarterly results today.

Hindustan Petroleum Corporation, DLF, Aarti Drugs, Ajanta Pharma, LT Foods, Edelweiss Financial Services, Exide Industries, GIC Housing Finance, Hester Biosciences, Infibeam Avenues, KEC International, KPIT Technologies, Krsnaa Diagnostics, Navin Fluorine International, Satin Creditcare Network, Shipping Corporation of India, Suven Life Sciences and UCO Bank will also announce their quarterly earnings today.

New Listing:

Shares of AGS Transact Technologies were currently trading at Rs 173.40 on the BSE, at a discount of 0.91% as compared to the issue price of Rs 175. The scrip was listed at Rs 176, representing a premium of 0.57% to the initial public offer (IPO) price. So far, the scrip has hit a high of Rs 181.85 and a low of Rs 168.05. Over 5.09 lakh shares of the company have changed hands in the counter till now. The initial public offer (IPO) of AGS Transact Technologies received bids for 22,34,74,265 shares as against 2,86,74,696 shares on offer, according to stock exchange data. The issue was subscribed 7.79 times.

The issue opened for bidding on 19 January 2022 and closed on 21 January 2022. The price band of the IPO is fixed at Rs 166-175.

Buzzing Index:

The Nifty IT index added 2.81% to 34,804, rising for second trading session. The IT index rallied nearly 4% in two days.

Mindtree (up 6.54%), Tech Mahindra (up 4.75%), L&T Technology Services (up 3.74%), L&T Infotech (up 3.49%), Wipro (up 3.47%), Infosys (up 3.01%) and HCL Technologies (up 2.84%) were top gainers in IT space.

Earnings Impact:

Blue Dart Express rose 2.95% to Rs 6928.70 after the company's consolidated net profit rose 29.48% to Rs 123.42 crore on 20.98% rise in net sales to Rs 1254.75 crore in Q3 FY22 over Q3 FY21. Profit before tax (PBT) rose 43% to Rs 165.38 crore in Q3 FY22 over Q3 FY21. EBITDA rose 8.3% year-on-year to Rs 288 crore in Q3 FY22. EBITDA margin stood at 22.7% in Q3 FY22 as against 25.5% in Q3 FY21. The company's board has declared interim dividend of Rs 25 per share for the financial year ended 2021-22.

Multi Commodity Exchange of India (MCX) fell 1.33% after the company reported a 52% fall in consolidated net profit to Rs 4.46 crore on a 17% decline in total income to Rs 104.06 crore in Q3 FY22 over Q3 FY21. EBITDA in the third quarter was Rs 52.78 crore, down by 28% from Rs 73.45 crore in Q3 FY21. The company made a provision of Rs 11.01 crore for tax during the quarter. It had written back tax provisions amounting to Rs 4.21 crore in the same period last year. The average daily turnover (ADT) in overall commodity futures stood at Rs 24,556 crore in Q3 FY 21-22 vis-à-vis Rs 32,684 crore in the corresponding quarter of FY 20-21. The notional ADT of options increased by 965% to Rs 8,610 crore in Q3 FY21-22 from Rs 808 crore during Q3 FY20-21.

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