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Barometers trade with minor cuts; auto shares decline. 28February2022

The domestic equity benchmarks further pared losses in mid-morning trade. The Nifty marched towards the 16,550 mark. Auto shares declined. The continued escalation of the Russia Ukraine conflict and its consequent global economic fallout weighed on investor sentiment.

The barometer index, the S&P BSE Sensex, was down 246.33 points or 0.44% to 55,612.19. The Nifty 50 index lost 65.10 points or 0.39% to 16,593.30.

In the broader market, the S&P BSE Mid-Cap index declined 0.17% while the S&P BSE Small-Cap index rose 0.08%.

The market breadth was negative. On the BSE, 1595 shares rose and 1628 shares fell. A total of 169 shares were unchanged.

Economy:

The Government has permitted up to 20% Foreign Direct Investment (FDI) under automatic route in Life Insurance Corporation of India (LIC) with an aim to facilitate disinvestment of the country's largest insurer.

The Department for Promotion of Industry and Internal Trade (DPIIT) had mooted the proposal to allow FDI in LIC, after taking views from the Ministry of Finance. The much-awaited initial public offering, IPO of LIC is expected to hit the market in March and LIC's employees and policyholders would get a discount over the floor price.

Buzzing Index:

The Nifty Auto index fell 1.09% to 10,776.45. The index had advanced 2.69% to close at 10,895.30 on Friday.

Eicher Motors (down 2.59%), TVS Motor Company (down 2.21%), Maruti Suzuki (down 1.58%), Hero MotoCorp (down 1.43%), Tata Motors (down 1.25%), Bharat Forge (down 1.25%), Mahindra & Mahindra (down 0.90%) declined while Ashok Leyland (up 0.34%) and Bajaj Auto (up 0.22%) advanced.

Stocks in Spotlight:

Aurionpro Solutions fell 2.65% to Rs 282.50. Singapore-based SC Soft, an Aurionpro subsidiary, announced an order win to design, develop & supply on-board validators supporting the up-gradation to EMV open-loop ticketing for the 200 pilot buses in Costa Rica. The order is valued at $225,000 which covers the supply of equipment and implementation by the end of Q2-2022, followed by the maintenance & support post-warranty.

Zen Technologies shed 0.25% to Rs 195.85. The company said that it secured an export order for the supply of training equipment worth approximately Rs 13.5 crore.

SJVN rose 1.60% to Rs 28.60. The company announced that the Ministry of New and Renewable Energy, Government of India has granted in-principle approval for development of 400MW solar park at Kinnaur district in Himachal Pradesh.

Global Markets:

Asian stocks were trading higher on Monday. Investors continued to monitor the Russia-Ukraine crisis and related sanctions. Taiwan markets are closed for a holiday on Monday.

Russia continued its advance into Ukraine over the weekend, with reports of fighting on the streets and forces encircling Kyiv. President Vladimir Putin on Sunday put his country's deterrence forces, which reportedly include nuclear capabilities, on high alert in response to international backlash to Russia's invasion.

The U.S. and its allies announced new sanctions and measures to hit Russia, such as removing selected Russian banks from the interbank messaging system, SWIFT. Many countries have also said they will close their airspace to Russian aircraft.

On the diplomatic front, representatives from the Ukraine and Russian governments have agreed to meet at the Ukraine-Belarus border with no preconditions, as per reports. Belarus, which shares a border with both Ukraine and Russia, has close ties with Moscow.

US stocks climbed Friday as investors continued to assess the financial risks stemming from Russia's invasion of Ukraine.

On the data front, the Commerce Department said on Friday consumer spending, which accounts for more than two-thirds of U.S. economic activity, surged 2.1% last month after falling 0.8% in December.

अब तक फरवरी महीने में एफआईआई ने 9,712.60 करोड़ रुपये की बिकवाली की है। वहीं डीआईआई ने 5,837.25 करोड़ रुपये की बिकवाली की है।

करेंसी मार्केट पर नजर डालें तो साप्ताहिक आधार पर पिछले हफ्ते डॉलर के मुकाबले रुपया 68 पैसे गिरकर 75.37 के स्तर पर बंद हुआ है

11 फरवरी को समाप्त हफ्ते में भारी-उतार चढ़ाव के बीच बेंचमार्क इंडेक्स में 1 फीसदी की गिरावट देखने को मिली। आरबीआई पॉलिसी के एलान, एफआईआई की लगातार बिकवाली और अमेरिका में बढ़ती महंगाई के बीच फेड रेट में उम्मीद से तेज बढ़ोतरी की संभावनाओं ने बाजार पर दबाव बनाने का काम किया।

बीते हफ्ते सेंसेक्स 491.9 अंक यानी 0.83 फीसदी टूटकर 58,152.92 के स्तर पर बंद हुआ। वहीं निफ्टी 141.5 अंक यानी 0.89 फीसदी गिरकर 17,374.8 के स्तर पर बंद हुआ।

पिछले हफ्ते बीएसई स्मॉलकैप इंडेक्स 3.4 फीसदी टूटा। गिरने वाले शेयरों में Forbes Gokak, SOLARA ACTIVE PHARMA SCIENCES, GE Power India, Stove Kraft, Diamines and Chemicals, Fairchem Organics, Lasa Supergenerics, Jubilant Industries, Jaypee Infratech, Goldiam International, Gulshan Polyols, Gati, Panacea Biotec और NGL Fine Chem के नाम शामिल है। वहीं Shankara Building Products, Zee Media Corporation, DB Realty and Gujarat Narmada Valley Fertilizers & Chemicals शेयरों में बढ़त देखने को मिली।

बीते हफ्ते बीएसई मिडकैप इंडेक्स 2 फीसदी गिरावट के साथ बंद हुआ। Torrent Power, Endurance Technologies, Tata Power Company, Kansai Nerolac Paints, 3M India, Crompton Greaves Consumer Electrical, ABB India, Zee Entertainment Enterprises, Bayer CropScience, Aditya Birla Capital, RBL Bank, Info Edge India और IDBI Bank में 5-14 फीसदी की गिरावट देखने को मिली। वहीं Adani Power, JSW Energy and Rajesh Exports में 8-14 फीसदी की बढ़त देखने को मिली।

ONGC Q3 Results: दिसंबर तिमाही में कंपनी का प्रॉफिट 220% बढ़कर 11,637 करोड़ रुपए रहा, रेवेन्यू बढ़कर 1.46 लाख करोड़ रुपए

बीएसई लॉर्जकैप इंडेक्स ने भी 0.8 फीसदी का गोता लगाया था। लॉर्जकैप इंडेक्स में percent. Godrej Consumer Products, Lupin, DLF, HDFC Life Insurance Company, Larsen & Toubro Infotech, Cadila Healthcare, GAIL India, Larsen & Toubro और HDFC Asset Management Company टॉप लूजर रहें थे। हालांकि Interglobe Aviation, Hindustan Petroleum Corporation, Tata Steel, Bank Of Baroda, Vedanta, Aurobindo Pharma और Petronet LNG टॉप गेनर रहें थे।

बीएसई सेसेंक्स में Tata Consultancy Services के मार्केट कैप में सबसे ज्यादा गिरावट देखने को मिली थी। उसके बाद Housing Development Finance Corporation, Hindustan Unilever औरLarsen & Toubro का नंबर रहा था। वहीं दूसरी तरफ Reliance Industries, Tata Steel और Maruti Suzuki India के मार्केट वैल्यू में सबसे ज्यादा बढ़त देखने को मिली थी।

अलग-अलग सेक्टर पर नजर डालें तो बीते हफ्ते बीएसई कैपिटल गुड्स इंडेक्स 3.8 फीसदी टूटा था। वहीं रियल्टी 2.7 फीसदी और FMCG इंडेक्स 2.2 फीसदी टूटे थे जबकि दूसरी तरफ मेटल इंडेक्स में 3.8 फीसदी की बढ़त देखने को मिली थी।

पिछले हफ्ते भी भारतीय इक्विटी बाजार में एफआईआई की बिकवाली जारी रही। बीते हफ्ते एफआईआई ने 5,641.81 करोड़ रुपये की बिकवाली की जबकि डीआईआई ने 3,562.19 करोड़ रुपये की खरीदारी की। हालांकि अब तक फरवरी महीने में एफआईआई ने 9,712.60 करोड़ रुपये की बिकवाली की है। वहीं डीआईआई ने 5,837.25 करोड़ रुपये की बिकवाली की है।

करेंसी मार्केट पर नजर डालें तो साप्ताहिक आधार पर पिछले हफ्ते डॉलर के मुकाबले रुपया 68 पैसे गिरकर 75.37 के स्तर पर बंद हुआ है जबकि 4 फरवरी को यह 74.69 के स्तर पर बंद हुआ था।

The domestic equity benchmarks extended losses and hit fresh intraday low in morning trade. The Nifty was trading below the 17,350 mark. Weak global cues played the spoilsport. The higher-than-expected US inflation data raised fears of aggressive rate hikes by the US Federal Reserve.

The barometer index, the S&P BSE Sensex, was down 910.36 points or 1.54% to 58,015.67. The Nifty 50 index lost 263.60 points or 1.50% to 17,342.25.

In the broader market, the S&P BSE Mid-Cap index shed 1.40% while the S&P BSE Small-Cap index lost 1.26%.

The market breadth was weak. On the BSE, 761 shares rose and 1860 shares fell. A total of 86 shares were unchanged.

Results today:

Oil and Natural Gas Corporation (down 0.35%), Oil India (up 0.15%), Power Finance Corporation (down 0.81%), Apollo Hospitals Enterprises (down 1.79%), Ashok Leyland (down 1.54%), Cholamandalam Financial Holdings (down 0.23%), Divi's Laboratories (down 0.73%), Fortis Healthcare (down 1.42%), Glenmark Pharmaceuticals (down 2.06%), Globus Spirits (down 1.87%), Godrej Industries (down 0.95%), Honeywell Automation India (down 0.47%), Metropolis Healthcare (down 2.30%), Motherson Sumi Systems (down 2.38%), NHPC (down 0.10%), The New India Assurance Company (up 0.40%), Star Health and Allied Insurance Company (down 1.46%) and Voltas (down 3.94%) are some of the large firm slated to announce their financial results today.

Further, Akzo Nobel India (down 0.08%), Allcargo Logistics (up 0.64%), Anupam Rasayan India (up 0.44%), Fine Organic Industries (down 1.34%), HLE Glascoat (down 0.81%), Housing & Urban Development Corporation (down 0.25%), IDFC (down 0.25%), India Cements (down 2.11%), Indigo Paints (down 0.60%), ITI (down 0.35%), Kalpataru Power Transmission (down 1.30%), Mazagon Dock Shipbuilders (down 0.66%), MOIL (down 1.29%), Nazara Technologies (down 0.90%), Shree Renuka Sugars (down 1.70%), Sapphire Foods India (down 0.20%) and Sobha (down 1.34%) are some of the companies that will announce thier quarterly earnings today.

Stocks in Spotlight:

Cochin Shipyard declined 2.55% to Rs 332.40 after the company's consolidated net profit dropped 42.17% to Rs 129.38 crore on a 27.27% increase in revenue from operations to Rs 952.88 crore in Q3 December 2021 over Q3 December 2020.

Rashtriya Chemicals & Fertilizers (RCF) added 3.4% to Rs 80.45 after the company's consolidated net profit surged 45% to Rs 143.15 crore in Q3 FY22 from Rs 98.7 crore posted in Q3 FY21.

Trent rose 1.21% to Rs 1,088.60 after the company reported a 77.7% increase in consolidated net profit to Rs 113.78 crore on a 75.6% increase in revenue from operations to Rs 1,499 crore in Q3 FY22 over Q3 FY21.

Global Markets:

Asian stocks were trading mostly lower on Friday, tracking losses seen overnight on Wall Street after the release of a hotter-than-expected U.S. consumer inflation report.

Wall Street ended sharply lower on Thursday after US consumer prices data came in hotter than expected and subsequent comments from a Federal Reserve official raised fears the US central bank will hike rates aggressively to fight inflation.

St. Louis Federal Reserve Bank President James Bullard said the data had made him dramatically more hawkish. Bullard, a voting member of the Fed's rate-setting committee this year, reportedly said he now wanted a full percentage point of interest rate hikes by July 1.

On the data front, the consumer price index rose 0.6% from December, the Labor Department said, while in the 12 months through January, CPI jumped 7.5%, the biggest year-on-year gain since February 1982.

The domestic equity barometers ended with strong gains on Thursday. The Nifty closed above the 17,600 mark. Investors cheered the RBI's decision to keep the key policy rates unchanged. Shares rose across the board with metals, banks, financials and IT stocks gaining the most.

As per provisional clsoing data, the barometer index, the S&P BSE Sensex, advanced 460.06 points or 0.79% to 58,926.03. The Nifty 50 index gained 142.05 points or 0.81% to 17,605.85.

The broader market lagged the main indices. The S&P BSE Mid-Cap index added 0.30% while the S&P BSE Small-Cap index rose 0.04%.

The market breadth was almost even. On the BSE, 1,568 shares rose and 1,769 shares fell. A total of 111 shares were unchanged.

The Governor of the Reserve Bank of India Shaktikanta Das headed six-member Monetary Policy Committee (MPC) today announced the policy resolution. The RBI kept repo rate unchanged at 4%. Reverse repo rate stands at 3.35%. The Marginal Standing Facility (MSF) rate is at 4.25%. The MPC said the policy stance will remain accommodative as long as needed. The real GDP growth is projected at 7.8% for FY 2022-23. FY23 inflation target is reduced to 4.5%.

Buzzing Index:

The Nifty Metal index rose 1.23% to 6,058.50, extending gains for third day in a row. The index has added 3.94% in three sessions.

Jindal Steel & Power (up 5.97%), Ratnamani Metals Tubes (up 2.78%), NMDC (up 2.28%), Tata Steel (up 2.20%), Hindustan Copper (up 1.97%), Welspun Corp (up 2.03%), JSW Steel (up 1.17%) and National Aluminum Co. (up 0.96%) advanced.

Stocks in Spotlight:

Mahindra & Mahindra (M&M) rose 1.25% to Rs 851.10 . M&M reported 22% fall in standalone net profit before exceptional items to Rs 1,353 crore in Q3 FY22 as compared with Rs 1,745 crore in Q3 FY21. Revenue rose by 8% YoY to Rs 15,239 crore during the quarter. The company sold 1,18,174 vehicles in Q3 FY22, which is lower by 2% as against 1,21,133 vehicles sold in the same period last year. Tractor sales in Q3 FY22 amounted to 91,769 units (down 9% YoY).

Bharat Forge fell 2.58% to Rs 728.70. On a consolidated basis, the company reported net profit of Rs 421.19 crore in Q3 December 2021 as against net loss of Rs 209.20 crore in Q3 December 2020. Net sales jumped 38.97% to Rs 2,394.68 crore in Q3 December 2021 over Q3 December 2020.Page Industries slipped 3.51% to Rs 40905.05. The company reported a 13.6% rise in net profit to Rs 174.6 crore on a 28.3% jump in revenue from operations to Rs 1189.8 crore in Q3 FY22 over Q3 FY21.

Solara Active Pharma Sciences hit a lower circuit limit of 20% at Rs 775.05 after the company reported consolidated net loss of Rs 139.87 crore in Q3 FY22 as against net profit of Rs 65.80 crore in Q3 FY21. Net sales fell 76.48% to Rs 100.34 crore in Q3 FY22 over Q3 FY21.

MRF shed 0.87% to Rs 69790.25. On a consolidated basis, the tyre maker's net profit fell 71.30% to Rs 149.39 crore on 6% increase in net sales to Rs 4,920.13 crore in Q3 December 2021 over Q3 December 2020.

Tata Power Company rose 1.34% to Rs 241.15 after the company's consolidated net profit soared 73.3% to Rs 551.89 crore on a 43.6% jump in net sales to Rs 10,913.14 crore in Q3 FY22 over Q3 FY21.

ACC shed 0.24% to Rs 2304.55. The company's consolidated net profit slumped 40.6% to Rs 280.85 crore on a 1.8% increase in net sales to Rs 4,137.42 crore in Q4 December 2021 over Q4 December 2020.

SKF India fell 1.43% to Rs 3550. The company reported a 30.7% decline in consolidated net profit to Rs 88.79 crore in Q3 FY22 from Rs 128.11 crore posted in Q3 FY21. Net sales grew by 18.1% to Rs 966.98 crore in Q3 FY22 from Rs 818.7 crore registered in Q3 FY21.

Larsen & Toubro rose 0.51% to Rs 1898.65 after the company's hydrocarbon business secured two offshore projects from prestigious overseas client. The company classified it as a 'significant' contract, meaning that the order value is between Rs 1,000 crore and Rs 2,500 crore. The scope of work comprises engineering, procurement, construction, installation and commissioning for the expansion of a marine terminal.

Petronet LNG advacned 0.76% to Rs 219.65. The company recorded a 31.5% increase in consolidated net profit to Rs 1,159.46 crore in Q3 FY22 from Rs 882 crore posted in Q3 FY21. Consolidated net revenue from operations surged nearly 72% to Rs 12,597.22 crore in Q3 FY22 over Q3 FY21.

Berger Paints India rose 0.46% to Rs 725.90. The company reported an 8% fall in consolidated net profit to Rs 252.7 crore in Q3 FY22 from Rs 274.8 crore posted in Q3 FY21. Consolidated revenue from operations grew by 20.4% to Rs 2,550.77 crore in Q3 FY22 as against Rs 2,118 crore registered in Q3 FY21.

Power Grid Corporation of India rose 1.29% to Rs 212. The company reported consolidated net profit of Rs 3,292.97 crore in Q3FY22 against Rs 3,367.71 crore in Q3FY21. Total income rose to Rs 10723.61 crore from Rs 10359.48 crore YoY.

FSN E-Commerce Ventures slumped 7.56% to Rs 1710. The company reported 58% fall in consolidated net profit to Rs 29 crore on 36% rise in revenue from operations to Rs 1098.40 crore in Q3FY22 over in Q3FY21.

Global Markets:

Shares in Europe and Asia mostly advanced on Thursday as investors await the release of U.S. consumer inflation data.

Meanwhile, investors await the release of U.S. consumer inflation data on Thursday for clues on how the Federal Reserve could react to the rising price pressures.

The domestic equity barometers extended gains and hit fresh intraday high in mid-afternoon trade. The Nifty marched towards the 17,650 mark. Investors cheered the RBI's decision to keep the key policy rates unchanged.

The barometer index, the S&P BSE Sensex, was up 570.96 points or 0.98% to 59,036.93. The Nifty 50 index gained 163.75 points or 0.94% at 17,627.55.

The broader market lagged the main indices. The S&P BSE Mid-Cap index added 0.42% while the S&P BSE Small-Cap index rose 0.20%.

The market breadth was almost even. On the BSE, 1,611 shares rose and 1,690 shares fell. A total of 107 shares were unchanged.

Buzzing Index:

The Nifty IT index rose 0.99% to 35,329.80. The index has added 2.34% in two sessions.

Mphasis (up 2.63%), L&T Technology Services (up 2.49%), Infosys (up 1.56%), Tech Mahindra (up 0.97%), MindTree (up 0.72%), HCL Tech (up 0.61%), TCS (up 0.51%) and Wipro (up 0.45%) advanced.

Stocks in Spotlight:

Mahindra & Mahindra (M&M) rose 1.10% to Rs 849.85. M&M reported 22% fall in standalone net profit before exceptional items to Rs 1,353 crore in Q3 FY22 as compared with Rs 1,745 crore in Q3 FY21. Revenue rose by 8% YoY to Rs 15,239 crore during the quarter. The company sold 1,18,174 vehicles in Q3 FY22, which is lower by 2% as against 1,21,133 vehicles sold in the same period last year. Tractor sales in Q3 FY22 amounted to 91,769 units (down 9% YoY).

BEML shed 0.35% to Rs 1857.40. The company's consolidated net profit soared 183.73% to Rs 78.51 crore on a 55.59% jump in net sales to Rs 1,133.09 crore in Q3 FY22 over Q3 FY21.

Numbers to Track:

The yield on 10-year benchmark federal paper was currently trading at 6.719% as compared with its previous closing of 6.798%.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 74.9850, compared with its close of 74.8400 during the previous trading session.

MCX Gold futures for 4 February 2022 settlement added 0.05% to Rs 48,683.

In the commodities market, Brent crude for April 2022 settlement added 27 cents or 0.29% to $91.82 a barrel.

Global Markets:

Shares in Europe and Asia advanced on Thursday as investors await the release of U.S. consumer inflation data.

Meanwhile, investors await the release of U.S. consumer inflation data on Thursday for clues on how the Federal Reserve could react to the rising price pressures.

The key equity barometers traded with strong gains in mid-morning trade after the RBI kept the policy repo rate unchanged. The Nifty was trading above the 17,550 mark. Realty stocks advanced for the second day in a row.

The barometer index, the S&P BSE Sensex, was up 386.09 points or 0.66% to 58,852.06. The Nifty 50 index added 118.75 points or 0.68% to 17,582.55.

In the broader market, the S&P BSE Mid-Cap index gained 0.35% while the S&P BSE Small-Cap index was trading flat.

The market breadth was positive. On the BSE, 1556 shares rose and 1626 shares fell. A total of 115 shares were unchanged.

Reserve Bank Governor Shaktikanta Das headed six-member Monetary Policy Committee (MPC) today announced the policy resolution. RBI kept repo rate unchanged at 4%. Reverse repo rate stands at 3.35%. The Marginal Standing Facility (MSF) rate is at 4.25%. The MPC said the policy stance will remain accommodative as long as needed. The real GDP growth is projected at 7.8% for FY 2022-23. FY23 inflation target is reduced to 4.5%.

Buzzing Segment:

The Nifty Realty index rose 1.03% to 471.80. The index has added 1.63% in two sessions.

Indiabulls Real Estate (up 2.09%), Macrotech Developers (up 2.08%), Sobha Developers (up 1.43%), Sunteck Realty (up 1.67%), DLF (up 1.29%), Godrej Properties (up 1.21%), Oberoi Realty (up 1.09%) and Brigade Enterprises (up 0.75%) advanced.

Stocks in Spotlight:

ACC added 0.10% to Rs 2312.30. The company's consolidated net profit slumped 40.6% to Rs 280.85 crore on a 1.8% increase in net sales to Rs 4,137.42 crore in Q4 December 2021 over Q4 December 2020. Sales volume of cement declined by 2.85% YoY to 7.49 million tonnes in Q4 December 2021. Sales volume of ready mix concrete remained flat at 0.73 million cubic metres during Q4 December 2021.

SKF India fell 1.70% to Rs 3540.35. The company reported a 30.7% decline in consolidated net profit to Rs 88.79 crore in Q3 FY22 from Rs 128.11 crore posted in Q3 FY21. Net sales grew by 18.1% to Rs 966.98 crore in Q3 FY22 from Rs 818.7 crore registered in Q3 FY21.

Larsen & Toubro rose 0.73% to Rs 1,902.65 after the company's hydrocarbon business secured two offshore projects from prestigious overseas client. The company classified it as a 'significant' contract, meaning that the order value is between Rs 1,000 crore and Rs 2,500 crore. The scope of work comprises engineering, procurement, construction, installation and commissioning for the expansion of a marine terminal.

Global Markets:

Asian stocks were trading higher on Thursday as investors await the release of U.S. consumer inflation data.

U.S. stocks rose on Wednesday as tech shares led a broad rally, clawing back some of their losses after a rough start to the year.

Meanwhile, investors await the release of U.S. consumer inflation data expected Thursday for clues on how the Federal Reserve could react to the rising price pressures.

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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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:

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

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.

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).

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.

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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Indices hit day's high; LIC Hsg Finance jumps 14%. 28January2022

Key equity indices hit fresh intraday high in early afternoon trade. All the sectoral indices on the NSE were in the green. The Nifty crossed 17,350 level and edged higher.

The barometer index, the S&P BSE Sensex, jumped 762.33 points or 1.33% at 58,039.24. The Nifty 50 index advanced 247.15 points or 1.45% at 17,358.30.

The broader market outperformed the main indices. The S&P BSE Mid-Cap index rallied 2.69% while the S&P BSE Small-Cap index rose 2.47%.

The market breadth was strong. On the BSE, 2,496 shares rose and 763 shares fell. A total of 96 shares were unchanged.

The Budget session of Parliament is set to commence on 31 January 2022 and will conclude on 8 April 2022. The government will present the Budget for fiscal 2022-23 on 1 February 2022. The Economic Survey is likely to be tabled on 31 January 2022 after the president's address.

On the political front, developments in the upcoming assembly polls in Uttar Pradesh, Uttarakhand, Goa, Punjab, and Manipur will be closely watched. Polls in all the five states will be held between 10 February 2022 and 7 March 2022 in seven phases. The counting of votes and the result will be declared on 10 March 2022.

Primary Market:

The initial public offer (IPO) of Adani Wilmar received bids for over 9.01 crore shares as against 12.25 crore shares on offer, according to stock exchange data at 12:03 IST on Friday, (28 January 2022). The issue was subscribed 74%.

The issue opened for bidding on 27 January 2022 and it will close on 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 portions of 4,08,65,217 equity shares).

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 0.81% to 20.8925. The Nifty 24 February 2022 futures were trading at 17,326, at a discount of 30 points as compared with the spot at 17,356.

The Nifty option chain for 24 February 2022 expiry showed maximum Call OI of 17.6 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 Auto index added 1.2% to 11,700.75, extending its winning run to third consecutive trading session. The auto index rallied nearly 4% in three days.

Bharat Forge (up 3.47%), Mahindra & Mahindra (up 2.99%), Ashok Leyland (up 2.75%), Tata Motors (up 2.7%) and Bajaj Auto (up 1.14%) were top gainers in automobile space.

Earnings Impact:

LIC Housing Finance surged 14.38%. The housing finance company's Q3 FY22 PAT stood at Rs 767.33 crore as against Rs 727.04 crore for Q3 FY21, a growth of 6% year-on-year (YoY). Q3 FY22 revenue from operations Rs 5054 crore as against Rs 4907 crore, a growth of 3% YoY. Outstanding loan portfolio rose 11% to Rs 243412 crore as against Rs 220197 crore. Individual loan portfolio Rs 2,29,321 crore as against Rs 2,04,444 crore, a growth of 12%. Q3FY22 total disbursements stood at Rs 17770 crore as against Rs 16857 crore, up by 5%. Net Interest Income stood at Rs 1455 crore, as against Rs 1281 crore, growth of 14% YoY. Net Interest Margins were at 2.42% for Q3 FY22 as against 2.36% for Q3 FY21.

Birlasoft advanced 2.64% to Rs 449 after the company's consolidated net profit rose 10.5% to Rs 114 crore on a 6% increase in revenue to Rs 1,071.9 crore in Q3 FY22 over Q2 FY22. As compared Q3 FY21, the company's net profit and revenue are higher by 18.2% and 21.7%, respectively. EBITDA in the third quarter was Rs 162.8 crore, up 7.2% QoQ and up 12.7% YoY. In dollar terms, the company's revenue for Q3 FY22 was $143.4 million, up 4.7% QoQ and up 20.1% YoY. Revenue was up 5% QoQ in constant currency.

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Barometers pare losses; breadth remains weak. 27January2022

Current Market Situation

The domestic equity barometers pared losses in afternoon trade. The Nifty hovered near the 17,000 mark. Fears of monetary policy tightening, geo-political tensions of Russia invading Ukraine and firm crude oil prices dented investors sentiment.

The barometer index, the S&P BSE Sensex, was down 915.98 points or 1.58% to 56,942.17. The Nifty 50 index lost 288.15 points or 1.67% to 16,989.80.

In the broader market, the S&P BSE Mid-Cap index declined 1.94% while the S&P BSE Small-Cap index slipped 1.20%.

The market breadth was weak. On the BSE, 1,175 shares rose and 2,130 shares fell. A total of 98 shares were unchanged.

Economy:

The International Monetary Fund (IMF) has raised its forecast for growth in India's gross domestic product (GDP) in FY23 by 50 basis points (bps) to 9%. India's GDP growth forecast for FY24 was also raised by 50 bps to 7.1%. Explaining the upward revision in an update to its World Economic Outlook report, the IMF said it expects an improvement in India's credit growth which would boost consumption and investment and better-than-anticipated performance of the financial sector.

Gainers & Losers:

Cipla (up 1.92%), SBI (up 1.88%), Axis Bank (up 1.70%), Indian Oil Corporation (up 1.03%) and NGC (up 0.88%) were the top index gainers.

Tech Mahindra (down 4.37%), HCL Tech (down 4.16%), Eicher Motors (down 4.15%), Titan Company (down 3.65%) and Wipro (down 3.54%) were the top index losers.

Stocks in Spotlight:

Bharat Electronics (BEL) was up 0.05% to Rs 204.35. BEL and Hyperion Global Group have entered into a contract to develop, manufacture and supply Internet of Things (IoT) devices for the US market.

Macrotech Developers fell 2.50% to Rs 1251.45. Lodha's consolidated net profit jumped 23.6% to Rs 286.38 crore on a 36% jump in net sales to Rs 2,059.44 crore in Q3 FY22 over Q3 FY21.

TeamLease Services surged 11.26% to Rs 4226.30 after the company's consolidated net profit rose 31.05% to Rs 29.97 crore on 38.16% increase in revenue from operations to Rs 1,762.08 crore in Q3 December 2021 over Q3 December 2020.

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Market snaps 5-day losing trend; Nifty ends above 17,250. 25-January-2022

Market Closing Situation

The benchmark indices advanced on Tuesday, snapping a five-day losing streak. Auto, bank and metal stocks boosted the market. The Nifty closed near 17,300 level.

As per provisional closing data, the barometer index, the S&P BSE Sensex, jumped 366.64 points or 0.64% at 57,858.15. The Nifty 50 index advanced 128.85 points or 0.75% at 17,277.95. Both the indices have lost over 6% in the past five sessions.

In the broader market, the S&P BSE Mid-Cap index rose 1.03% while the S&P BSE Small-Cap index gained 0.81%.

The market breadth was positive. On the BSE, 1,981 shares rose and 1,363 shares fell. A total of 90 shares were unchanged.

The markets will remain closed tomorrow (26 January 2022) on account of Republic Day.

Buzzing Index:

The Nifty FMCG index rose 1.28% to 36,401.55. The index fell 2.37% in the past trading session.

Radico Khaitan (up 4.34%), Godrej Consumer Products (up 3.84%), Tata Consumer Products (TCPL) (up 2.55%), United Spirits (up 2.35%) and United Breweries (up 2.29%) were the top gainers in the FMCG segment.

Pidilite Industries declined 2.20%. The company's consolidated net profit declined by 20% to Rs 359 crore as compared to the same quarter last year. Net sales grew by 24% to Rs 2,841 crore in Q3 FY22 over Q3 FY21. EBITDA before non-operating income in the third quarter was Rs 550 crore, which is lower by 14% over the same quarter last year. Profit before tax and exceptional items (PBT) in Q3 FY22 stood at Rs 487 crore, down 19% Y-o-Y.

Stocks in Spotlight:

Maruti Suzuki India surged 7.49%. The auto major recorded 48% decline in net profit to Rs 1,011.3 crore on as net sales remained flat at Rs 22,187.6 crore in Q3 FY22 over Q3 FY21. As compared with Q2 FY22, the company's net profit and net sales are higher by 113% and 15%, respectively. The company sold 4,30,668 vehicles the third quarter, which is lower by 13% as compared with 4,95,897 vehicles sold in the same period last year. Sequentially, the sales volume is higher by 13%. Operating EBIT declined 38% Y-o-Y to Rs 919 crore in Q3 FY22. Operating EBIT margin was 4.1% in Q3 FY22 as against 6.7% in Q3 FY21.

Axis Bank soared 6.48%. The private sector bank's net profit increased by 224% to Rs 3,614 crore in Q3 FY22 from Rs 1,117 crore in Q3 FY21. Total income in the third quarter rose by 15% Y-o-Y to Rs 21,101 crore. The bank's operating profit for the quarter grew 17% Y-o-Y and 4% Q-o-Q to Rs 6,162 crore. Net interest income (NII) grew 17% Y-o-Y and 10% Q-o-Q to Rs 8,653 crore. Net interest margin (NIM) for Q3 FY22 improved by 14 bps Q-o-Q to 3.53%. Non-interest income (comprising of fee, trading profit and miscellaneous income) for Q3 FY22 stood at Rs 3,840 crore, up 31% Y-o-Y and 1% Q-o-Q.

Provisions (excluding provision for tax) declined by 64% to Rs 1,335 crore in Q3 FY22 from Rs 3,757 crore in Q3 FY21. Provision coverage ratio (including specific + standard + additional + COVID-19 provisions) stood at 130% of GNPA as on 31 December 2021. Specific loan loss provisions for Q3 FY22 were Rs 790 crore as compared to Rs 927 crore in Q2 FY22. The bank holds cumulative provisions (standard + additional other than NPA) of Rs 13,404 crore at the end of Q3 FY22. The net non-performing assets aggregated to Rs 6,513 crore as at 31 December 2021 as against Rs 7,200 crore as at 30 September 2021 and Rs 4,610 crore as at 31 December 2020. The net NPA ratio was 0.91% as at 31 December 2021 as against 1.08% as at 30 September 2021 and 0.74% as at 31 December 2020. Total deposits increased by 20% Y-o-Y to Rs 7,71,670 crore as at 31 December 2021. The bank's advances grew 17% Y-o-Y to Rs 6,64,866 crore as on 31 December 2021.

Federal Bank jumped 4.41%. The private bank posted a 29.1% rise in standalone net profit to Rs 522 crore in Q3 FY22 from Rs 404 crore posted in Q3 FY21. The bank's total income stood at Rs 3,926.75 crore in Q3 FY22 as compared to Rs 3,934.90 crore in Q3 FY21. Operating profit before provisions and contingencies fell 4.4% year on year to Rs 914.29 crore in Q3 FY22. Net interest income came at Rs 1,539 crore in Q3 FY22, 7% higher than Rs 1,437 crore posted in the same quarter last year. Net interest margin improved marginally to 3.27% in Q3 FY22 from 3.22% in Q3 FY21. Provisions and contingencies contracted 48% to Rs 213.9 crore in Q3 FY22 from Rs 4141 crore in Q3 FY21. The capital adequacy ratio stood at 14.37% in Q3 FY22 as compared to 14.31% in Q3 FY21. Provision coverage ratio stood at 79.62% in Q3 FY22 compared to 86.32% a year earlier.

Burger King India rose 0.41%. The firm's net loss in Q3 FY22 narrowed to Rs 15.15 crore from Rs 29.02 crore in Q3 FY21. Revenue from operations in the third quarter was Rs 279.89 crore, up 72% Y-o-Y. Gross profit was Rs 184.92 crore in Q3 FY22, up by 77.38% from Rs 104.25 crore in Q3 FY21. The company EBITDA in Q3 FY22 was at Rs 32.82 crore as against Rs 24.09 crore in Q3 FY21, up 36% Y-o-Y. However, EBITDA margin in the third quarter had declined to 11.7% from 14.8% in the corresponding quarter last fiscal. During the quarter, Burger King added 20 restaurants and as on 31 December 2021, its total restaurant count was 294. According to the company, presently 9 restaurants are under construction and 65 are in pipeline.

IndiaMART InterMESH tumbled 14.34%. The company's consolidated net profit declined 12.47% to Rs 70.20 crore on 8.35% rise in net sales to Rs 188.10 crore in Q3 December 2021 over Q3 December 2020. On a consolidated basis, profit before tax (PBT) fell 12.39% year-on-year (Y-o-Y) to Rs 93.30 crore in Q3 December 2021. IndiaMART InterMESH said the growth in revenue was driven by improvement in realization from existing customers and increase in number of paying subscription suppliers. Deferred revenue grew by 25% Y-o-Y to Rs 790 crore as at 31 December 2021. EBITDA was Rs 79 crore (down 10% Y-o-Y). EBITDA margin for Q3 FY22 stood at 42%, lower than 51% in Q3 FY21. EBIT for the period was Rs 75 crore (down 10% Y-o-Y) with EBIT margin of 40% in Q3 FY22 as against 48% in Q3 FY21.

SBI Cards and Payment Services advanced 4.41%. The company reported an 84% jump in net profit to Rs 385.7 crore on a 23.6% rise in total income to Rs 3,139.66 crore in Q3 FY22 over Q3 FY21. SBI Cards said increase in revenue was primarily due to higher income from fees and services in Q3 FY22. Profit before tax grew by 83% to Rs 518 crore in Q3 FY22 over Q3 FY21. Earnings before credit costs increased by 23% to Rs 1,144 crore in Q3 FY22 as compared to Q3 FY21. Total operating cost rose 28% year on year to Rs 1,719 crore in Q3 FY22, due to higher business volumes & festive campaigns. Finance costs increased by 6% to Rs 277 crore in Q3 FY22 from RS 261 crore in Q3 FY21.

The Ramco Cements slumped 4.78%. The company's standalone net profit declined 59% to Rs 83 crore despite a 16% rise in revenue to Rs 1,556 crore in Q3 FY22 over Q3 FY21. EBITDA fell by 41% to Rs 238 crore in Q3 FY22 from Rs 403 crore in Q3 FY21. While the variable costs had gone up due to sharp fuel price increase, cement prices had declined sharply in Dec'21, the company said. Cement sales rose 15% Y-o-Y to 3 million tonnes while generation of wind power declined by 35% Y-o-Y to 2.28 crore units in the third quarter.

Global Markets:

The Dow Jones Futures were down 164 points, indicating a negative start in the US markets today.

Shares in Europe rebounded while Asia declined on Tuesday as investors braced themselves for the meeting of the U.S. Federal Reserve this week, and watched for developments in Ukraine as tensions with Russia grow.

The Federal Open Market Committee is due to meet on Tuesday and Wednesday to decide on the next steps for U.S. monetary policy. Rising inflation is a major concern for the U.S. central bank and investors will listen closely to hear how worried the Fed actually is. Chairman Jerome Powell is due to brief the media on Wednesday afternoon after the FOMC releases its statement.

In Asia, South Korea's economy grew 1.1% in the fourth quarter of 2021 compared to the previous quarter, the Bank of Korea said in a press release on Tuesday. For the full year, the country's GDP expanded by 4% in 2021, the fastest in 11 years, as per reports.

Geopolitical tensions are in focus, with fears of a Russian invasion of Ukraine growing, as the military buildup at the border shows no sign of dissipating and crisis talks remain at an impasse, as per reports.

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Indices slide on weak Asian stocks; Nifty drops below 17,000. 25-january-2022

Current Market Situation

The benchmark indices dropped in early trade, extending its prior five-day slide. The Nifty declined below the key 17,000 level. Weak Asian stocks, worries of US Fed interest hike, geo-political tensions of Russia invading Ukraine and rising crude oil prices impacted sentiment adversely.

The barometer index, the S&P BSE Sensex, dropped 595.92 points or 1.04% at 56,895.59. The Nifty 50 index lost 151.80 points or 0.89% at 16,997.30.

In the broader market, the S&P BSE Mid-Cap index fell 0.44% while the S&P BSE Small-Cap index declined 0.55%.

The market breadth was weak. On the BSE, 974 shares rose and 1,816 shares fell. A total of 74 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,751.58 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 74.88 crore in the Indian equity market on 24 January 2022, provisional data showed.

Upcoming Nifty 50 Results:

Maruti Suzuki India (down 0.83%) and Cipla (down 0.41%) will announce their quarterly results today.

Stocks in Spotlight:

Axis Bank advanced 2.05%. The private sector bank's net profit increased by 224% to Rs 3,614 crore in Q3 FY22 from Rs 1,117 crore in Q3 FY21. Total income in the third quarter rose by 15% YoY to Rs 21,101 crore. The bank's operating profit for the quarter grew 17% Y-o-Y and 4% Q-o-Q to Rs 6,162 crore.

Indian Energy Exchange (IEX) declined 2.98%. The company reported consolidated net profit of Rs 80.73 crore in Q3 FY22 against Rs 58.14 crore in Q3 FY21. Total income rose to Rs 130.77 crore from Rs 96.09 crore Y-o-Y.

IndiaMART InterMESH slumped 8.78%. The company has announced its participation in the Series B Investment Round of Simply Vyapar Apps (Vyapar), of Rs 217.6 crore.

Sudarshan Chemical Industries skid 4.74%. The company reported consolidated net profit of Rs 36.38 crore in Q3 FY22 against Rs 39.15 crore in Q3 FY21. Total income rose to Rs 603.32 crore from Rs 508.93 crore Y-o-Y.

Global Markets:

Overseas, Asian stocks are trading lower on Tuesday after a volatile session overnight on Wall Street.

South Korea's economy grew 1.1% in the fourth quarter of 2021 compared to the previous quarter, the Bank of Korea said in a press release on Tuesday. For the full year, the country's GDP expanded by 4% in 2021, the fastest in 11 years, as per reports.

Wall Street bounced back from a steep sell-off late in the session to close higher on Monday, with bargain hunters pushing the indexes into positive territory by closing bell. Investors are eyeing the Fed's policy meeting, which begins on Tuesday and wraps up Wednesday. Market participants will be looking for any signals on how much the central bank will raise interest rates this year and when it will start.

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