Indices nudge higher in early trade; breadth strong. 04February2022

STREET INVESTMENT

Amid volatility, the key indices are trading with small gains after opening lower. At 9:27 IST, the barometer index, the S&P BSE Sensex, rose 48.11 points or 0.08% at 58,836.27. The Nifty 50 index was up 19 points or 0.11% at 17,579.90.

In the broader market, the S&P BSE Mid-Cap index fell 0.1% while the S&P BSE Small-Cap index gained 0.16%.

The market breadth was strong. On the BSE, 1,728 shares rose and 906 shares fell. A total of 93 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,597.54 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 370.58 crore in the Indian equity market on 3 February, provisional data showed.

Stocks in Spotlight:

ITC rose 0.53%. The company's standalone net profit rose 12.70% to Rs 4,156.20 crore on 32.06% increase in net revenue to Rs 15,689.29 crore in Q3 FY22 as compared with Q3 FY21. EBITDA improved by 18.2% to Rs 5,102 crore in Q3 FY22 from Rs 4,315 crore in Q3 FY21. Profit before tax in the third quarter stood at Rs 5,492.03 crore, up by 12.53% from Rs 4,880.43 crore reported in the same period last year.

Total FMCG segment revenue increased by 12% YoY to Rs 10335 crore during the period under review. In the FMCG segment, cigarettes revenue rose by 14% YoY to Rs 6244 crore while the revenue from other FMCG segment improved by 9% YoY to Rs 4091 crore during the quarter. Hotel business revenue stood at Rs 473 crore (up 101% YoY), agri-business revenue was at Rs 4962 crore (down 100% YoY) and paperboards, paper & packaging revenues were at Rs 2046 crore (up 39% YoY) in the third quarter of FY22. The board recommended an interim dividend of Rs 5.25 per share for the financial ear ending 31st March 2022.

Dr.Reddy's Laboratories fell 0.32%. The drug major said that it has entered into a definitive agreement to acquire German medical cannabis firm Nimbus Health GmbH. Nimbus Health is a privately owned, licensed pharmaceutical wholesaler from Germany focusing on medical cannabis in Germany.The pharma company will acquire Nimbus Health for an upfront payment plus performance and milestone-based earn-outs over the next four years. Founded in 2018, Nimbus Health is one of the pioneer companies for medical cannabis in Germany. The acquisition will allow Dr. Reddy's to build on Nimbus Health's strengths and introduce medical cannabis-based medicines as a promising treatment option for patients. The company will be operating under the brand Nimbus Health and as a wholly-owned subsidiary of Dr. Reddy's.

Global Markets:

Asian stocks were trading higher on Friday, following heavy losses overnight on Wall Street that saw the tech-heavy Nasdaq Composite plunging nearly 4%. Markets in Hong Kong returned to trade on Friday after being closed for most of this week due to the Lunar New Year holidays. Over in mainland China, markets remain closed on Friday for the holidays.

U.S. stocks fell on Thursday, dragged down by technology and social-media companies, as Facebook owner Meta Platforms plunged after a disappointing earnings report.

Meta Platforms shares plunged after the company's quarterly profit fell short of expectations. The company also issued weaker-than-expected revenue guidance for the current quarter. It was the biggest drop ever for the Facebook parent.

On the data front, investors are awaiting the U.S. Labor Department's nonfarm payroll count due Friday, which is seen as one of the major indicators of the how the U.S. economy is doing.

In commodities, front-month U.S. oil futures rose 2.3% to settle at $90.27 per barrel, the first time the benchmark had topped $90 since October 2014. Crude prices rose as demand for petroleum products surges while supply remains constrained.

In Europe, the Bank of England pressed ahead with raising borrowing costs Thursday, nudging up its policy rate to 0.5% from 0.25%. The European Central Bank kept its key interest rates unchanged, but ECB President Christine Lagarde signaled concern about inflation and opened the door to a possible rate hike later this year.

CLICK HERE FOR GET DETAILS & JOIN OUR BEST ADVISORY -

Visit My Website : https://www.streetinvestment.in/

Visit My Facebook Page : https://bit.ly/3FPps3j

Visit My Website : https://bit.ly/3FUlvKK

Street Investment CALL US : 8989000006

Sensex drops 770 pts, Nifty holds 17,550 mark; HDFC twins drag. 03February2022

Benchmark indices ended with deep losses on Thursday as investors locked profits after a three-day rally. The Nifty closed above the 17,550 mark after hitting the day's low of 17,511.15 in late trade. Auto stocks bucked a broader selling pressure.

The barometer index, the S&P BSE Sensex, dropped 770.31 points or 1.29% at 58,788.02. The Nifty 50 index lost 219.80 points or 1.24% at 17,560.20. Both the indices climbed about 4% in the past three sessions.

HDFC (down 3.23%), Infosys (down 2.76%), Reliance Industries (down 1.29%) and HDFC Bank (down 1.10%) were major drags.

Selling was broad-based. The S&P BSE Mid-Cap index fell 0.9% while the S&P BSE Small-Cap index declined 0.38%.

The market breadth was positive. On the BSE, 1,704 shares rose and 1,653 shares fell. A total of 81 shares were unchanged.

Economy:

IHS Markit India Services PMI came at 51.5 in January 2022 lower than 55.5 posted in December 2021. The headline figure pointed to the slowest rate of expansion in the current six month sequence of growth. The upturn was reportedly stymied by the intensification of the pandemic, the reintroduction of restrictions and inflationary pressures.

Numbers to Track:

The yield on 10-year benchmark federal paper fell to 6.889% compared with its previous close of 6.880%.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 74.8850, compared with its close of 74.83 during the previous trading session.

MCX Gold futures for 4 February 2022 settlement rose 0.08% to Rs 47,961.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.30% to 96.22.

In the commodities market, Brent crude for April 2022 settlement fell 92 cents or 1.03% at $88.55 a barrel.

Global Markets:

In US, Dow Jones index futures were down 101 points, indicating a negative opening in the US stocks today.

European markets fell across the board while Asian stocks ended on a mixed note on Thursday amid some lingering concerns about global growth and ongoing geopolitical tensions. A number of major markets, including those on the Chinese mainland and in Hong Kong, were shut for the Lunar New Year holidays.

US stocks rose for a fourth straight day Wednesday, as Alphabet propelled gains in tech thanks to strong quarterly earnings. Shares of Google-parent Alphabet surged after its quarterly numbers topped analyst expectations. The company also announced a 20-for-1 stock split.

On the data front, investors are awaiting the U.S. Labor Department's nonfarm payroll count due Friday, which is seen as one of the major indicators of the how the U.S. economy is doing.

Meanwhile, the United States is sending 2,000 additional soldiers to Europe and repositioning another 1,000 from Germany to Romania to ensure the robust defence of European NATO members, amid the ongoing impasse between Russia and Ukraine.

That deployment comes as an estimated 100,000 Russian troops equipped with advanced weaponry line Ukraine's eastern border with Russia and northern border with Belarus, which is an ally to Moscow.

Buzzing Segment:

The Nifty Auto index rose 0.44% to 11,683.40. The index has risen 0.58% in two sessions.

TVS Motor Company (up 4.37%), Hero MotoCorp (up 2.3%), Bajaj Auto (up 2.09%), Ashok Leyland (up 1.45%), Tube Investments of India (up 1.34%), Maruti Suzuki India (up 0.75%) and Balkrishna Industries (up 0.12%) advanced.

Stocks in Spotlight:

Coromandel International rallied 3.09% after the company's consolidated net profit surged 14.31% to Rs 381.58 crore on a 43.60% jump in revenue from operations to Rs 5,073.60 crore in Q3 FY22 over Q3 FY21. Profit before tax (PBT) soared 14.44% to Rs 511.38 crore in Q3 FY22 from Rs 446.84 crore in Q3 FY21.

Westlife Development rose 0.55%. The company reported a consolidated net profit of Rs 20.82 crore in Q3 FY22 as against a net profit of Rs 0.11 crore in Q3 FY21. Total revenue increased by 46.7% YoY to Rs 476.83 crore during the quarter. This was driven by growth across both dine-in and convenience channels that grew bya solid 39% and 55% respectively. The company's same store sales growth for the quarter stood at 44% YoY. Operating EBITDA increased by 66.7% to Rs 83.45 crore in Q3 FY22 from Rs 50.06 crore in Q3 FY21. Operating EBITDA margin was 17.5% in Q3 FY22 as against 15.4% in Q3 FY21.

Radico Khaitan fell 2.46% after the liquor maker's standalone net profit declined 4.7% to Rs 76.71 crore in Q3 December 2021 as against Rs 80.53 crore reported in Q3 December 2020. On a standalone basis, revenue from operations increased by 12% to Rs 765.99 crore in Q3 December 2021 from Rs 684.21 crore in Q3 December 2021.

Titan Company rose 0.46%. The company reported a standalone net profit of Rs 987 crore in Q3 FY22 as against a net profit of Rs 419 crore Q3 FY21, recording a growth of 136% on YoY basis. The company's revenue excluding bullion sales grew by 36% in Q3 FY22 compared to Q3 FY21. The total income for the quarter was Rs 9,570 crore, registering a growth of 31% as compared to Rs 7,324 crore in Q3 FY21. The Jewellery business registered an income of Rs 8,563 crore with 37% YoY growth in Q3 FY22. The Watches and Wearables business recorded an income of Rs 708 crore with 29% YoY growth in Q3 FY22. The Eyewear business recorded an income of Rs 156 crore with 26% YoY growth in Q3 FY22. The other segments of the company comprising Indian dress wear and fragrances & accessories recorded an income of Rs 52 crore in Q3 FY22 compared to Rs 36 crore in Q3 FY21, a growth of 44%. The strong recovery and the product mix improvement helped the company achieve profit before taxes and exceptional items of Rs 1,317 crore for the quarter compared to Rs 765 crore in the same quarter previous year, registering a growth of 72%.

Godrej Properties lost 6.41%. The realtor's consolidated net profit soared 171.4% to Rs 38.95 crore in Q3 FY22 over Q3 FY21. The company's net sales jumped 63.5% to Rs 278.76 crore in Q3 FY22 over Q3 FY21. Consolidated profit before tax jumped 116.4% to Rs 67.94 crore in Q3 FY22 as against Rs 31.39 crore in Q3 FY21. The Q3 FY22 witnessed a total booking value of Rs 1,541 crore and total booking volume of 2.22 million sq. ft. as compared to total booking value of Rs 1,488 and total booking volume of 2.40 million sq. ft. in Q3 FY21. Consolidated EBITDA grew 42% to Rs 115 crore in Q3 FY22 as compared to Rs 81 crore in Q3 FY21. Godrej Properties added three new projects with saleable area of 2.4 million sq. ft. in Q3 FY22.

Cadila Healthcare declined 1.66% after the company's consolidated net profit fell 5.08% year on year to Rs 500.40 crore in Q3 FY22. Revenue from operations stood at Rs 3,655 crore in Q3 FY22. Profit before tax rose 1.46% to Rs 599 crore in Q3 FY22 over Q3 FY21. Earnings before Interest, Depreciation and Tax (EBIDTA) stood at Rs 753 crore, down 1.83% YoY and down 12.54% QoQ. India formulations business posted revenues of Rs 1079 crore during the quarter. The branded formulations business posted a robust double-digit growth of 17% on a y-o-y basis.

Radico Khaitan fell 2.46% after the liquor maker's standalone net profit declined 4.7% to Rs 76.71 crore in Q3 FY22 as against Rs 80.53 crore reported in Q3 FY21. Revenue from operations increased by 12% to Rs 765.99 crore in Q3 FY22 from Rs 684.21 crore in Q3 FY21. Total Indian Made Foreign Liquor (IMFL) volume growth was 7.4% y-o-y led by Prestige & Above category volume growth of 18.2%. Prestige & Above net revenue growth was 21.5% compared to Q3 FY2021. IMFL sales value accounted for 82.1% T(vs. 81.7% in Q3 FY2021) of the Revenue from Operations (Net). EBITDA fell 4.2% to Rs 118.71 crore in Q3 FY22 from Rs 123.98 crore in Q3 FY21. EBITDA margin slipped to 15.5% in Q3 FY22 from 18.1% in Q3 FY21.

Varun Beverages (VBL) rose 0.66%. On a consolidated basis, the company reported a net profit of Rs 16.49 crore in Q4 December 2021 as against net loss of Rs 19.73 crore in Q4 December 2020. Net sales rose 30.31% to Rs 1,734.33 crore in Q4 December 2021 over Q4 December 2020, primarily on account of strong volume growth. Total sales volumes were up by 28.5% YoY at 112.0 million cases in Q4 CY 2021. Pre-tax profit stood at Rs 41.85 crore in Q4 December 2021 as against pre-tax loss of Rs 18.86 crore in Q4 December 2020. EBITDA increased 20.5% to Rs 207.57 crore in Q4 CY 2021 from Rs 172.23 crore. Despite being a seasonally weak quarter, the company reported a positive PAT led by improvement in profitability of international operations and lower financing cost. Finance cost in Q4 CY 2021 declined by 39.8% owing to lower average cost of borrowing.

Tata Consumer Products fell 0.62%. The FMCG company reported a 38.1% rise in consolidated net profit to Rs 194.48 crore in Q3 FY22 from Rs 140.86 crore posted in Q3 FY21. Net sales increased by 3.5% to Rs 2,030.48 crore in Q3 FY22 over Q3 FY21. EBITDA improved by 28% to Rs 468 crore in Q3 FY22 from Rs 365 crore in Q3 FY21. EBITDA margin was 14.6% in Q3 FY22 as against 11.9% in Q3 FY21.

Welspun Enterprises tumbled 7.18% after the company's consolidated net profit slumped 66.6% to Rs 12.94 crore on a 42.9% fall in net sales to Rs 241.58 crore in Q3 FY22 over Q3 FY21. Consolidated EBITDA dropped 32.1% to Rs 56.6 crore in Q3 FY22 as against Rs 83.3 crore in Q3 FY21. EBITDA margin improved to 19.9% in Q3 December 2021 from 17.9% in Q3 December 2020. Profit margin stood at 5.4% in Q3 December 2021 from 9.2% in Q3 December 2020.

IIFL Wealth Management gained 1.89%. The company's consolidated net profit rose 58.52% to Rs 152.94 crore on 22.53% increase in total income to Rs 570.62 crore in Q3 December 2021 over Q3 December 2020. On a consolidated basis, profit before tax rose 54.67% to Rs 197.87 crore in Q3 December 2021 over Q3 December 2020. Annual Recurring Revenues stood at Rs 245 crore, up 10% Q-o-Q and 59% Y-o-Y. Total AUM is up 2.4% Q-o-Q and up 31.1% Y-o-Y at Rs 2,62,780 crore. Total expenses rose 10.36% year-on-year to Rs 372.74 crore in Q3 December 2021. Employee expenses jumped 56.90% to Rs 168.57 crore during the period under review. From FY 23 onwards, the company expects the overall employee cost to stabilize around 32-33% of total revenues.

CLICK HERE FOR GET DETAILS & JOIN OUR BEST ADVISORY -

Visit My Website : https://www.streetinvestment.in/

Visit My Facebook Page : https://bit.ly/3FPps3j

Visit My Website : https://bit.ly/3FUlvKK

Street Investment CALL US : 8989000006

Sensex, Nifty snap three day winnning streak. 03February2022

Benchmark indices ended a volatile trading session with major losses on Thursday. The Nifty closed below the 17,550 level. Barring auto stocks, selling pressure was seen across the board. Investors locked profits following a 3-day rally.

As per the provisional closing data, the barometer index, the S&P BSE Sensex, dropped 770.31 points or 1.29% at 58,788.02. The Nifty 50 index lost 219.80 points or 1.24% at 17,560.70.

Selling was broad based. The S&P BSE Mid-Cap index fell 0.9% while the S&P BSE Small-Cap index declined 0.38%.

Buyers outnumbered sellers. On the BSE, 1,712 shares rose and 1,641 shares fell. A total of 85 shares were unchanged.

Economy:

Stocks in Spotlight:

Titan Company fell 0.01%. The company reported a standalone net profit of Rs 987 crore in Q3 FY22 as against a net profit of Rs 419 crore Q3 FY21, recording a growth of 136% on YoY basis. The company's revenue excluding bullion sales grew by 36% in Q3 FY22 compared to Q3 FY21. The total income for the quarter was Rs 9,570 crore, registering a growth of 31% as compared to Rs 7,324 crore in Q3 FY21. The Jewellery business registered an income of Rs 8,563 crore with 37% YoY growth in Q3 FY22. The Watches and Wearables business recorded an income of Rs 708 crore with 29% YoY growth in Q3 FY22. The Eyewear business recorded an income of Rs 156 crore with 26% YoY growth in Q3 FY22. The other segments of the company comprising Indian dress wear and fragrances & accessories recorded an income of Rs 52 crore in Q3 FY22 compared to Rs 36 crore in Q3 FY21, a growth of 44%. The strong recovery and the product mix improvement helped the company achieve profit before taxes and exceptional items of Rs 1,317 crore for the quarter compared to Rs 765 crore in the same quarter previous year, registering a growth of 72%.

Godrej Properties lost 6.65%. The realtor's consolidated net profit soared 171.4% to Rs 38.95 crore in Q3 FY22 over Q3 FY21. The company's net sales jumped 63.5% to Rs 278.76 crore in Q3 FY22 over Q3 FY21. Consolidated profit before tax jumped 116.4% to Rs 67.94 crore in Q3 FY22 as against Rs 31.39 crore in Q3 FY21. The Q3 FY22 witnessed a total booking value of Rs 1,541 crore and total booking volume of 2.22 million sq. ft. as compared to total booking value of Rs 1,488 and total booking volume of 2.40 million sq. ft. in Q3 FY21. Consolidated EBITDA grew 42% to Rs 115 crore in Q3 FY22 as compared to Rs 81 crore in Q3 FY21. Godrej Properties added three new projects with saleable area of 2.4 million sq. ft. in Q3 FY22.

Cadila Healthcare declined 1.69% after the company's consolidated net profit fell 5.08% year on year to Rs 500.40 crore in Q3 FY22. Revenue from operations stood at Rs 3,655 crore in Q3 FY22. Profit before tax rose 1.46% to Rs 599 crore in Q3 FY22 over Q3 FY21. Earnings before Interest, Depreciation and Tax (EBIDTA) stood at Rs 753 crore, down 1.83% YoY and down 12.54% QoQ. India formulations business posted revenues of Rs 1079 crore during the quarter. The branded formulations business posted a robust double-digit growth of 17% on a y-o-y basis.

Radico Khaitan fell 2.04% after the liquor maker's standalone net profit declined 4.7% to Rs 76.71 crore in Q3 FY22 as against Rs 80.53 crore reported in Q3 FY21. Revenue from operations increased by 12% to Rs 765.99 crore in Q3 FY22 from Rs 684.21 crore in Q3 FY21. Total Indian Made Foreign Liquor (IMFL) volume growth was 7.4% y-o-y led by Prestige & Above category volume growth of 18.2%. Prestige & Above net revenue growth was 21.5% compared to Q3 FY2021. IMFL sales value accounted for 82.1% T(vs. 81.7% in Q3 FY2021) of the Revenue from Operations (Net). EBITDA fell 4.2% to Rs 118.71 crore in Q3 FY22 from Rs 123.98 crore in Q3 FY21. EBITDA margin slipped to 15.5% in Q3 FY22 from 18.1% in Q3 FY21.

Tata Consumer Products fell 1.03%. The FMCG company reported a 38.1% rise in consolidated net profit to Rs 194.48 crore in Q3 FY22 from Rs 140.86 crore posted in Q3 FY21. Net sales increased by 3.5% to Rs 2,030.48 crore in Q3 FY22 over Q3 FY21. EBITDA improved by 28% to Rs 468 crore in Q3 FY22 from Rs 365 crore in Q3 FY21. EBITDA margin was 14.6% in Q3 FY22 as against 11.9% in Q3 FY21.

Welspun Enterprises tumbled 7% after the company's consolidated net profit slumped 66.6% to Rs 12.94 crore on a 42.9% fall in net sales to Rs 241.58 crore in Q3 FY22 over Q3 FY21. Consolidated EBITDA dropped 32.1% to Rs 56.6 crore in Q3 FY22 as against Rs 83.3 crore in Q3 FY21. EBITDA margin improved to 19.9% in Q3 December 2021 from 17.9% in Q3 December 2020. Profit margin stood at 5.4% in Q3 December 2021 from 9.2% in Q3 December 2020.

IIFL Wealth Management gained 1.21%. The company's consolidated net profit rose 58.52% to Rs 152.94 crore on 22.53% increase in total income to Rs 570.62 crore in Q3 December 2021 over Q3 December 2020. On a consolidated basis, profit before tax rose 54.67% to Rs 197.87 crore in Q3 December 2021 over Q3 December 2020. Annual Recurring Revenues stood at Rs 245 crore, up 10% Q-o-Q and 59% Y-o-Y. Total AUM is up 2.4% Q-o-Q and up 31.1% Y-o-Y at Rs 2,62,780 crore. Total expenses rose 10.36% year-on-year to Rs 372.74 crore in Q3 December 2021. Employee expenses jumped 56.90% to Rs 168.57 crore during the period under review. From FY 23 onwards, the company expects the overall employee cost to stabilize around 32-33% of total revenues.

Global Markets:

European markets traded higher while Asian stocks ended on a mixed note on Thursday amid some lingering concerns about global growth and ongoing geopolitical tensions. A number of major markets, including those on the Chinese mainland and in Hong Kong, remain shut for the Lunar New Year holidays.

On the data front, investors are awaiting the U.S. Labor Department's nonfarm payroll count due Friday, which is seen as one of the major indicators of the how the U.S. economy is doing.

CLICK HERE FOR GET DETAILS & JOIN OUR BEST ADVISORY -

Visit My Website : https://www.streetinvestment.in/

Visit My Facebook Page : https://bit.ly/3FPps3j

Visit My Website : https://bit.ly/3FUlvKK

Street Investment CALL US : 8989000006

Titan Company, Godrej Properties Q3 PAT grows .

Titan Company Q3 PAT up 136% YoY to Rs 987 crore

The company's revenue excluding bullion sales grew by 36% in Q3 FY22 compared to Q3 FY21. The total income for the quarter was Rs 9,570 crore, registering a growth of 31% as compared to Rs 7,324 crore in Q3 FY21.

The Jewellery business registered an income of Rs 8,563 crore with 37% YoY growth in Q3 FY22. The Watches and Wearables business recorded an income of Rs 708 crore with 29% YoY growth in Q3 FY22.

The Eyewear business recorded an income of Rs 156 crore with 26% YoY growth in Q3 FY22. The other segments of the company comprising Indian dress wear and fragrances & accessories recorded an income of Rs 52 crore in Q3 FY22 compared to Rs 36 crore in Q3 FY21, a growth of 44%.

The strong recovery and the product mix improvement helped the company achieve profit before taxes and exceptional items of Rs 1,317 crore for the quarter compared to Rs 765 crore in the same quarter previous year, registering a growth of 72%.

In the 9-month period from April 2021 to December 2021, the company has added (net) 149 stores. The company's retail chain (including CaratLane), spreads across 2,064 stores in 323 towns.

Among the subsidiaries of Titan, Titan Engineering & Automation (TEAL) recorded revenue of Rs 79 crore (down 9% YoY) and a profit before tax of Rs 5 crore (down 17% YoY) in Q3 FY22.

CaratLane Trading clocked a revenue of Rs 446 crore (up 63% YoY) and a profit before tax of Rs 28 crore (up 75% YoY) in Q3 FY22.

CK Venkataraman, managing director of the company, stated that: The festive purchases in the quarter has driven Titan's strong growth in all businesses of the company and the quarter has turned out to be one of the best quarters in terms of growth and profitability.

While the onset of COVID wave-3 has slowed down the strong momentum, the company is hopeful of ending the year on a positive note.

Titan Company is engaged in making and selling watches, jewellery, eyewear and others.

Godrej Properties Q3 PAT grows 171% YoY to Rs 39 cr.

Consolidated profit before tax jumped 116.4% to Rs 67.94 crore in Q3 FY22 as against Rs 31.39 crore in Q3 FY21. The Q3 FY22 witnessed a total booking value of Rs 1,541 crore and total booking volume of 2.22 million sq. ft. as compared to total booking value of Rs 1,488 and total booking volume of 2.40 million sq. ft. in Q3 FY21.

Consolidated EBITDA grew 42% to Rs 115 crore in Q3 FY22 as compared to Rs 81 crore in Q3 FY21. Godrej Properties added three new projects with saleable area of 2.4 million sq. ft. in Q3 FY22.

Commenting on the Q3 FY2022 performance, Pirojsha Godrej, the executive chairman of Godrej Properties, said, It is encouraging to see that the real estate sector in India has continued to strengthen despite the challenges of the third wave. Our own sales were muted in the third quarter due to several planned launches seeing minor delays, but we believe the current quarter will be our best ever for residential sales. We are also focused on adding several exciting new projects to our portfolio, which will set us up well for a very strong FY23.

Shares of Godrej Properties dropped 4.96% to Rs 1,695.10 on BSE. Godrej Properties is engaged in construction and real estate development.

Equities trade near intraday low; Sensex holds 59,000 level. 03February2022

The benchmark indices hovered near day's low as IT scrips continue to pull the market lower. Investors booked profits following a 3-day continuous rally. The Nifty traded tad below 17,650 mark.

The barometer index, the S&P BSE Sensex, dropped 478.09 points or 0.80% at 59,080.24. The Nifty 50 index lost 135.30 points or 0.76% at 17,644.70.

Housing Development Finance Corporation (HDFC) (down 3.20%), Infosys (down 2%) and Reliance Industries (RIL) (down 0.87%) dragged the market.

Broader markets suffer minor losses. The S&P BSE Mid-Cap index fell 0.42%. The S&P BSE Small-Cap index fell 0.01%.

Buyers outnumbered the sellers. On the BSE, 1,778 shares rose and 1,507 shares fell. A total of 96 shares were unchanged.

Among Nifty50 scrips, ITC (up 0.67%) and Titan Company (up 0.54%) are expected to announce their quarterly results today.

Economy:

Commenting on the latest survey results, Pollyanna De Lima, Economics Associate Director at IHS Markit said, The escalation of the pandemic and reintroduction of curfews had a detrimental impact on growth across the service sector. Both new business and output rose at slight rates that were the weakest in six months. Concerns about how long the current wave of COVID-19 will last dampened business confidence and caused job shedding. Firms were also alarmed about price pressures. On this front, the latest PMI results brought worrying news as input prices increased at the sharpest rate in over a decade. Charges rose at a faster pace as some firms continued to transfer additional cost burdens to consumers, but the rate of inflation here was moderate as the vast majority of monitored companies left their fees unchanged since December. Private sector growth was sustained at the start of the year but, with the slowdown seen in services mirrored by manufacturing, there were weaker expansions in aggregate sales and output.

Gainers & Losers:

Hero MotoCorp (up 3.50%), Bajaj Auto (up 2.80%), Maruti Suzuki India (up 2.12%), Axis Bank (up 0.89%) and Tata Steel (up 0.59%) were major gainers in Nifty 50 index.

Housing Development Finance Corporation (HDFC) (down 3.20%), SBI Life Insurance Company (down 2.74%), Oil & Natural Gas Corporation (ONGC) (down 2.51%), Grasim Industries (down 1.91%) and Larsen & Toubro (L&T) (down 1.81%) were major losers in Nifty 50 index.

Stocks in Spotlight:

Varun Beverages (VBL) fell 1.47%. On a consolidated basis, the company reported a net profit of Rs 16.49 crore in Q4 December 2021 as against net loss of Rs 19.73 crore in Q4 December 2020. Net sales rose 30.31% to Rs 1,734.33 crore in Q4 December 2021 over Q4 December 2020, primarily on account of strong volume growth. Total sales volumes were up by 28.5% YoY at 112.0 million cases in Q4 CY 2021. Pre-tax profit stood at Rs 41.85 crore in Q4 December 2021 as against pre-tax loss of Rs 18.86 crore in Q4 December 2020. EBITDA increased 20.5% to Rs 207.57 crore in Q4 CY 2021 from Rs 172.23 crore. Despite being a seasonally weak quarter, the company reported a positive PAT led by improvement in profitability of international operations and lower financing cost. Finance cost in Q4 CY 2021 declined by 39.8% owing to lower average cost of borrowing.

Welspun Enterprises tumbled 6.98%. The company's consolidated net profit slumped 66.6% to Rs 12.94 crore on a 42.9% fall in net sales to Rs 241.58 crore in Q3 FY22 over Q3 FY21. Consolidated EBITDA dropped 32.1% to Rs 56.6 crore in Q3 FY22 as against Rs 83.3 crore in Q3 FY21. EBITDA margin improved to 19.9% in Q3 December 2021 from 17.9% in Q3 December 2020. Profit margin stood at 5.4% in Q3 December 2021 from 9.2% in Q3 December 2020.

IIFL Wealth Management jumped 3.26%. The company's consolidated net profit rose 58.52% to Rs 152.94 crore on 22.53% increase in total income to Rs 570.62 crore in Q3 December 2021 over Q3 December 2020. On a consolidated basis, profit before tax rose 54.67% to Rs 197.87 crore in Q3 December 2021 over Q3 December 2020. Annual Recurring Revenues stood at Rs 245 crore, up 10% Q-o-Q and 59% Y-o-Y. Total AUM is up 2.4% Q-o-Q and up 31.1% Y-o-Y at Rs 2,62,780 crore. Total expenses rose 10.36% year-on-year to Rs 372.74 crore in Q3 December 2021. Employee expenses jumped 56.90% to Rs 168.57 crore during the period under review. From FY 23 onwards, the company expects the overall employee cost to stabilize around 32-33% of total revenues.

The main indices were trading at the day's low amid profit selling after a three-day rally. The Nifty traded below the 17,700 mark. Auto, media and consumer durables stocks were trading firm while banks and IT shares were under pressure.

The barometer index, the S&P BSE Sensex, declined 325.51 points or 0.55% at 59,232.27. The Nifty 50 index fell 82.1 points or 0.46% at 17,697.90.

In the broader market, the S&P BSE Mid-Cap index fell 0.46% while the S&P BSE Small-Cap index gained 0.04%.

The market breadth was positive. On the BSE, 1,802 shares rose and 1410 shares fell. A total of 96 shares were unchanged.

Economy:

IHS Markit India Services PMI came at 51.5 in January 2022 falling from 55.5 posted in December 2021. The headline figure pointed to the slowest rate of expansion in the current six month sequence of growth. The upturn was reportedly stymied by the intensification of the pandemic, the reintroduction of restrictions and inflationary pressures.

Commenting on the latest survey results, Pollyanna De Lima, Economics Associate Director at IHS Markit said, “The escalation of the pandemic and reintroduction of curfews had a detrimental impact on growth across the service sector. Both new business and output rose at slight rates that were the weakest in six months. Concerns about how long the current wave of COVID-19 will last dampened business confidence and caused job shedding. Firms were also alarmed about price pressures. On this front, the latest PMI results brought worrying news as input prices increased at the sharpest rate in over a decade. Charges rose at a faster pace as some firms continued to transfer additional cost burdens to consumers, but the rate of inflation here was moderate as the vast majority of monitored companies left their fees unchanged since December. Private sector growth was sustained at the start of the year but, with the slowdown seen in services mirrored by manufacturing, there were weaker expansions in aggregate sales and output.”

Buzzing Index:

The Nifty Auto index added 1.72% to 11,832.15, rising for second trading session in a row. The auto index added nearly 2% in two days.

TVS Motor Company (up 4.94%), Hero MotoCorp (up 3.61%), Tube Investments of India (up 3.01%), Ashok Leyland (up 2.65%) and Maruti Suzuki India (up 2.43%) were the top gainers. Among the other gainers were Bajaj Auto (up 2.35%), Escorts (up 1.25%), Balkrishna Industries (up 1.05%), Mahindra & Mahindra (up 0.96%) and Tata Motors (up 0.67%) were top gainers in auto space.

Stocks in Spotlight:

Angel One added 1.03% to Rs 1424.10 after the brokerage said that its client base had risen 7.2% to 8.34 million in January 2022 from 7.78 million in December 2021. The company's client base was 3.46 million in January 2021. Gross client acquisition was 0.54 million in January 2022 as compared with 0.46 million in December 2021 and 0.28 million in January 2021. The company's retail turnover market share in overall equity segment was 21.1% in January 2022 as against 20.8% in December 2021 and 19.7% in January 2021.

Balaji Amines jumped 6.49% to Rs 3584.65 after the company's net profit rose 19.46% to Rs 89.56 crore on 44.06% increase in revenue from operations to Rs 564.90 crore in Q3 FY22 over Q3 FY21. The revenue growth was muted sequentially as compared to previous quarter due to sluggish demand for few products as few of the company's clients could not procure Key Starting Materials (KSMs) for some of the company's matching products. At the same time, the company had to shut down the plants of DMF & Acetonitrile for a brief period to carry out the de-bottlenecking exercise, which were completed in the month of November 2021.

Profit before tax rose 38.48% to Rs 144.52 crore in Q3 FY22 over Q3 FY21. EBITDA rose 35.45% year-on-year to Rs 159.67 crore in Q3 FY22. EBITDA margin stood at 28.22% in Q3 FY22, higher than 25.39% in Q2 FY22 and lower than 30.02% in Q3 FY21.

Global Markets:

Asian stocks were trading mixed on Thursday amid some lingering concerns about global growth and ongoing geopolitical tensions. A number of major markets, including those on the Chinese mainland and in Hong Kong, remain shut for the Lunar New Year holidays.

On the data front, investors are awaiting the U.S. Labor Department's nonfarm payroll count due Friday, which is seen as one of the major indicators of the how the U.S. economy is doing.

Meanwhile, geopolitical tensions in eastern Europe remained at heightened levels after the Pentagon reportedly said it will move some of its Europe-based forces further east and deploy additional U.S.-based troops to Europe.

CLICK HERE FOR GET DETAILS & JOIN OUR BEST ADVISORY -

Visit My Website : https://www.streetinvestment.in/

Visit My Facebook Page : https://bit.ly/3FPps3j

Visit My Website : https://bit.ly/3FUlvKK

Street Investment CALL US : 8989000006

Nifty slips below 17,700; breadth positive. 03February2022

The main indices were trading lower amid profit selling after a three-day rally. The Nifty slipped below the 17,700 mark. Auto and consumer durables stocks were trading firm while banks and IT shares were under pressure.

The barometer index, the S&P BSE Sensex, declined 312.51 points or 0.52% at 59,245.27. The Nifty 50 index fell 84.50 points or 0.48% at 17,695.90.

In the broader market, the S&P BSE Mid-Cap index fell 0.44% while the S&P BSE Small-Cap index gained 0.01%.

The market breadth was positive. On the BSE, 1,734 shares rose and 1329 shares fell. A total of 122 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 183.60 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 425.96 crore in the Indian equity market on 2 February, provisional data showed.

Results Today:

ITC (up 1.49%) and Titan Company (up 0.98%) will announce their quarterly results today.

Godrej Properties, Lupin, Aavas Financiers, Aditya Birla Capital, Adani Transmission, Barbeque-Nation Hospitality, Cadila Healthcare, Coromandel International, Emami, GAIL (India), , JK Tyre & Industries, Kalyan Jewellers India, NESCO, Pfizer, PI Industries, Prince Pipes and Fittings, Radico Khaitan, Rolex Rings, Sigachi Industries, Sumitomo Chemical India, Torrent Power, Varun Beverages and Westlife Development will also announce their quarterly results today.

Buzzing Index:

The Nifty IT index slipped 0.82% to 35,493.55, snapping its four day winning streak. The IT index came under profit booking after rising nearly 7% in four days.

Mindtree (down 2.3%), L&T Infotech (down 1.7%), LTTS (down 1.67%), Mphasis (down 1.4%), Infosys (down 1.18%) and Tech Mahindra (down 1.11%) were top losers in IT space.

Stocks in Spotlight:

Gillette India slipped 1.83% to Rs 5,190 after the company's net profit fell 13.9% year on year to Rs 70.50 crore. The company reported an 8.3% increase in net sales to Rs 563.44 crore in Q2 December 2021 over Q2 December 2020.

Bharat Dynamics (BDL) surged 6.28% to Rs 518 after the company signed a contract worth Rs 3,131.82 crore for manufacture and supply of Konkurs - M anti-tank guided missiles to the Indian Army. Konkurs - M is a second generation, mechanized infantry anti-tank guided missile, to destroy armored vehicle equipped with explosive reactive armour. The contract will be executed in three years. With the latest contract, the net order book position of BDL stands at Rs 11,400 crore.

CLICK HERE FOR GET DETAILS & JOIN OUR BEST ADVISORY -

Visit My Website : https://www.streetinvestment.in/

Visit My Facebook Page : https://bit.ly/3FPps3j

Visit My Website : https://bit.ly/3FUlvKK

Street Investment CALL US : 8989000006