Benchmarks turn red; PSU banks decline. 08February2022

 

The domestic equity barometers pared all gains and turned red, as they traded below the flat line in morning trade. The Nifty was trading below the 17,200 mark. PSU Banks edged lower.

The barometer index, the S&P BSE Sensex, was down 160.43 points or 0.28% to 57,460.76. The Nifty 50 index lost 33.90 points or 0.20% to 17,179.70.

In the broader market, the S&P BSE Mid-Cap index slipped 0.61% while the S&P BSE Small-Cap index declined 1.35%.

The market breadth was weak. On the BSE, 974 shares rose and 2,072 shares fell. A total of 123 shares were unchanged.

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) will meet on 8-10 February 2022. The RBI's MPC will announce its interest rate decision on 10 February 2022.

Results Today:

Bharti Airtel (up 0.93%), IRCTC (up 0.90%), Godrej Consumer Products (up 0.07%), Jindal Steel & Power (up 0.63%), NMDC (down 0.32%), Bata India (down 1.06%), Bajaj Electricals (up 0.18%), Escorts (up 0.53%), Gujarat Gas (down 2.06%), Indraprastha Gas (down 1.10%), Borosil Renewables (down 8.30%), Aster DM Healthcare (down 0.49%), Latent View Analytics (down 1.74%), Tata Teleservices (Maharashtra) (up 4.98%), Mahanagar Gas (down 1.11%), Suven Pharmaceuticals (up 0.95%), Endurance Technologies (down 1.91%), Ratnamani Metals & Tubes (up 0.12%), Redington (India) (down 2.91%), Praj Industries (down 1.22%), Rites (down 0.49%) and Tasty Bite Eatables (down 0.13%) are some of the companies that will announce their quarterly earnings today.

Buzzing Index:

The Nifty PSU Bank index shed 0.52% to 3,004.20. The index had advanced 0.92% to end at 3,019.95 yesterday.

Canara Bank (down 1.51%), SBI (down 1.32%), Punjab National Bank (down 1.20%), Indian Overseas Bank (down 1.19%), Union Bank of India (down 0.84%) and Central Bank of India (down 0.70%) declined while Punjab & Sind Bank (up 1.17%) and UCO Bank (up 0.37%) bucked the trend.

Stocks in Spotlight:

M M Forgings rallied 4.68% to Rs 696.65 after the company's consolidated net profit surged 90.1% to Rs 29.41 crore on a 33.1% jump in net sales to Rs 293.13 crore in Q3 December 2021 over Q3 December 2020.

Strides Pharma Science shed 0.35% to Rs 388.25. The company said that its board will meet on 10 February 2022 to consider fund raising by way of issue of equity shares/ convertible warrants and/or any other instruments through preferential issue on a private placement basis. On the same day, the company will announce its financial results for the quarter and nine months ended 31 December 2021.

Wockhardt rose 2.77% to Rs 398.80. The drug maker said that it has received permission from the Central Drugs Standard Control Organization (CDSCO) to export up to 80 million doses of Sputnik Light and up to 20 million doses of Sputnik V Component I vaccine.

Indices decline in early trade; negative market breadth. 08February2022

The key equity indices are trading lower in early trade amid volatility. The Nifty was trading below the 17,200 mark.

The barometer index, the S&P BSE Sensex, was down 132.96 points or 0.23% to 57,488.23. The Nifty 50 index lost 33.90 points or 0.20% to 17,179.70.

Maruti Suzuki (up 2.39%), Titan Company (up 1.09%), Eicher Motors (up 0.89%), Bajaj Finserv (up 0.87%) and Tata Steel (up 0.81%) were the top index gainers.

Tata Consumer (down 1.28%), SBI (down 0.97%), Power Grid Corp (down 0.80%), NTPC (down 0.79%) and ONGC (down 0.64%) were the top index losers.

In the broader market, the S&P BSE Mid-Cap index slipped 0.21% while the S&P BSE Small-Cap index declined 0.44%.

The market breadth was negative. On the BSE, 1,287 shares rose and 1,340 shares fell. A total of 101 shares were unchanged.

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) will meet on 8-10 February 2022. The RBI's MPC will announce its interest rate decision on 10 February 2022.

Stocks in Spotlight:

TVS Motor Company advanced 3.60% to Rs 659.75 after the company posted an 8.5% increase in standalone net profit to Rs 288.31 crore on a 5.8% rise in net sales to Rs 5,706.43 crore in Q3 FY22 over Q3 FY21.

Biocon gained 0.64% to Rs 402.50. Biocon Pharma, a subsidiary of Biocon, received approval of its ANDA for Posaconazole Delayed-Release tablets from the US FDA. This product is indicated for use in the prevention of certain fungal infections in patients with severely weakened immune systems and is available in 100mg strength.

National Aluminium Company was up 0.08% to Rs 119.10. The company reported 246% surge in consolidated net profit to Rs 831 crore on 58.59% rise in total revenue to Rs 3773 crore in Q3 FY22 over Q3 F21.

Tata Steel Long Products rose 1.12% to Rs 744.10. A meeting of the board of directors of the company will be held on 10 February 2022, to consider a proposal for raising of funds by way of preferential issue of equity and/or preference securities or any debt issue or any other method and for determination of issue price.

Global Markets:

Asian stocks were trading mostly higher on Tuesday. Investors in the region continue to assess the inflation and central bank policy outlook.

Wall Street ended lower on Monday as traders weighed the latest quarterly earnings reports and awaited key U.S. inflation data. Corporate earnings were again a source of volatility for stocks on Monday.

Big inflation news is on the horizon, with the Labor Department on Thursday set to release consumer price index data for January.

Indices end with deep cuts; HDFC twins, ICICI Bank top losers. 07February2022

  

The domestic equity barometers ended with deep cuts after a weak session on Tuesday. After hitting the day's low at 17,119.40, the Nifty managed to pare some losses as it closed above the 17,200 mark. Shares across sectors declined with private banks, financials, and FMCG shares losing the most.

As per provisional closing data, the barometer index, the S&P BSE Sensex, dropped 1023.63 points or 1.75% to 57,621.19. The Nifty 50 index fell 302.70 points or 1.73% to 17,213.60.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 8.01% to 20.41.

HDFC Bank (down 3.47%), HDFC (down 3.06%) and ICICI Bank (down 2.32%) led the equity benchmarks lower.

In the broader market, the S&P BSE Mid-Cap index lost 1.25% while the S&P BSE Small-Cap index fell 0.75%.

Sellers outpaced buyers. On the BSE, 1,420 shares rose and 2,093 shares fell. A total of 137 shares were unchanged.

Primary Market:

The initial public offer (IPO) of Vedant Fashions (Manyavar) received bids for 50,64,657 shares as against 2,54,55,388 shares on offer, according to stock exchange data at 15:30 IST on Monday (7 February 2022). The issue was subscribed 20%.

The issue opened for bidding on 4 January 2022 and it will close on 8 February 2022. The price band of the IPO is fixed at Rs 824-866. An investor can bid for a minimum of 17 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Private Bank index fell 2.37% to 19,126.20, extending decline for third consecutive session. The index has lost 3.86% in three session.

Kotak Mahindra Bank (down 2.96%), IndusInd Bank (down 2.41%), RBL Bank (down 2.27%), IDFC First Bank (down 1.67%) and Axis Bank (down 1.12%) declined while Yes Bank (up 2.19%), Federal Bank (up 0.61%) and Bandhan Bank (up 0.42%) advanced.

Stocks in Spotlight:

SBI gained 0.38% to Rs 532.20. The banking major reported 62.27% rise in net profit to Rs 8,432 crore on 4.41% rise in interest income to Rs 69,678 crore in Q3 FY22 over Q3 F21.

Tata Steel advanced 0.35% to Rs 1180.25. The steel major reported consolidated net profit of Rs 9,598 crore in Q3 FY22 from net profit of Rs 4,011 crore in Q3 FY21. Turnover rose to Rs 60,783 crore from Rs 41,935 crore.

Shree Cement rose 0.70% to Rs 24876.60. The cement major reported a 23.6% fall in consolidated net profit to Rs 482.70 crore in Q3 FY22 from Rs 631.58 crore posted in Q3 FY21. Consolidated net sales grew 2.2% to Rs 3,637.11 crore in Q3 FY22 over Q3 FY21.

Bank of Baroda jumped 9.10% to Rs 116.30. The bank reported 107.17% rise in net profit to Rs 2197 crore on 14.38% rise in net interest income to Rs 8552 crore in Q3 FY22 over Q3 F21.

Siemens fell 0.30% to Rs 2414.15. Revenue from continuing operations in Q1 FY22 was Rs 3,197 crore, a 11.8 % increase over the same quarter in the preceding year. Profit after Tax from continuing operations was Rs. 245 crore, decreased by 6.5% over the same period last year.

One 97 Communications (Paytm) added 0.61% to Rs 959.05. Paytm reported a consolidated net loss of Rs 778.50 crore in Q3 December 2021, higher than net loss of Rs 535.50 crore in Q3 December 2020. Consolidated net sales jumped 88.6% to Rs 1,456.10 crore in Q3 December 2021 over Rs 772 crore in Q3 December 2020.

InterGlobe Aviation (IndiGo) jumped 9.82% to Rs 2168.20 after the low-cost air carrier reported consolidated net profit of Rs 129.79 crore in Q3 December 2021, compared with net loss of Rs 620.14 crore in Q3 December 2020. Revenue from operations was at Rs 9294.8 crore for the quarter, an increase of 89.3% against a 50.3% increase in capacity compared to same period last year.

CreditAccess Grameen jumped 10.70% to Rs 725.80 after the company reported a standalone net profit of Rs 129.2 crore in Q3 FY22 as against a net loss of Rs 71.6 crore in Q3 FY21. Net Interest Income increased by 40.4% YoY to Rs 349.4 crore during the quarter.

Lakshmi Machine Works gained 3.05% to Rs 11165. The company reported a 93.5% jump in consolidated net profit to Rs 64.37 crore in Q3 FY22 from Rs 33.26 crore posted in Q3 FY21. Consolidated net sales grew by 90.5% to Rs 911.7 crore in Q3 FY22 from Rs 478.56 crore posted in the same quarter last year.

CMS Info Systems gained 2.84% to Rs 280.50 after the company reported a 48% increase in consolidated net profit to Rs 60.24 crore in Q3 FY22 from Rs 40.7 crore posted in Q3 FY21. Consolidated net sales grew by 21.4% to Rs 403.65 crore in Q3 FY22.

Affle (India) advanced 3.12% to Rs 1298.95 after the company's consolidated net profit surged 102.58% to Rs 62.07 crore on 125.53% increase in net revenue from operations to Rs 339.40 crore in Q3 FY22 over Q3 FY21.

Clean Science and Technology shed 0.85% to Rs 2313.15. The company reported an 18% jump in consolidated net profit to Rs 57.9 crore in Q3 FY22 from Rs 49 crore posted in Q3 FY21. Consolidated revenue from operations grew by 44% to Rs 180.8 crore in Q3 FY22 as compared to Rs 125.42 posted in Q3 FY21.

Global Markets:

Shares in Europe and Asia traded mixed on Monday as investors continued to consider last week's jobs data from the U.S. and central bank decisions in Europe.

Last week, investors in the region digested the latest decision from the European Central Bank, which kept interest rates unchanged in spite of record inflation levels across the euro zone. The Bank of England, meanwhile, hiked rates in its reportedly first back-to-back interest rate rise since 2004.

Stunningly strong US jobs data soothed concerns about the global economy but also added to the risk of an aggressive tightening by the Federal Reserve.

US employers added a burst of 467,000 jobs in January despite a wave of omicron inflections that sickened millions of workers, kept many consumers at home and left businesses from restaurants to manufacturers short-staffed. The Labor Department's report on Friday also showed the unemployment rate ticked up from 3.9% to 4%. Estimated job growth for December was also revised much higher, from 199,000 to 510,000.

Investors continued to monitor the situation around Ukraine, with White House national security adviser Jake Sullivan reportedly warning Sunday that a Russian invasion could be imminent.

Vedanta Ltd , Hindustan Copper Ltd jumps around 3%.

 Hindustan Copper Ltd jumps around 3%.

Hindustan Copper Ltd is up for a fifth straight session today. The stock is quoting at Rs 141.75, up 2.94% on the day as on the NSE. The benchmark NIFTY is down around 1.13% on the day, quoting at 17318.9. The Sensex is at 57958.25, down 1.17%. Hindustan Copper Ltd has gained around 7.55% in last one month.

Meanwhile, Nifty Metal index of which Hindustan Copper Ltd is a constituent, has gained around 3.07% in last one month and is currently quoting at 5829.5, up 1.11% on the day. The volume in the stock stood at 105.68 lakh shares today, compared to the daily average of 64.05 lakh shares in last one month.

The benchmark February futures contract for the stock is quoting at Rs 140.75, up 1.85% on the day. Hindustan Copper Ltd is up 85.29% in last one year as compared to a 14.57% jump in NIFTY and a 65.92% jump in the Nifty Metal index.

The PE of the stock is 71.99 based on TTM earnings ending September 21.

Vedanta Ltd spurts 3.75%.

Vedanta Ltd is up for a fifth straight session today. The stock is quoting at Rs 369.7, up 3.75% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 1.13% on the day, quoting at 17318.9. The Sensex is at 57958.25, down 1.17%. Vedanta Ltd has gained around 8.99% in last one month.

Meanwhile, Nifty Metal index of which Vedanta Ltd is a constituent, has gained around 3.07% in last one month and is currently quoting at 5829.5, up 1.11% on the day. The volume in the stock stood at 105.77 lakh shares today, compared to the daily average of 123.38 lakh shares in last one month.

The benchmark February futures contract for the stock is quoting at Rs 367, up 2.57% on the day. Vedanta Ltd is up 107.7% in last one year as compared to a 14.57% jump in NIFTY and a 65.92% jump in the Nifty Metal index.

The PE of the stock is 9.01 based on TTM earnings ending December 21.

Nifty slips below 17,350; metal shares advance. 07February2022

 

The domestic equity barometers tumbled further in mid-morning trade, amid heavy selling in HDFC Bank and Infosys. The Nifty was trading below the 17,350 mark. Metal shares managed to outperform, as they advanced for the second day in a row, as higher aluminum prices and reopening of the Chinese markets supported the investor sentiment in the commodity space.

The barometer index, the S&P BSE Sensex, was down 604.47 points or 1.03% to 58,040.35. The Nifty 50 index lost 186.80 points or 1.07% to 17,329.50.

HDFC Bank (down 2.25%), HDFC (down 1.94%), Infosys (down 1.61%) and ICICI Bank (down 1.58%) dragged the equity benchmarks lower.

In the broader market, the S&P BSE Mid-Cap index declined 0.95% while the S&P BSE Small-Cap index fell 0.67%.

The market breadth was strong. On the BSE, 1,415 shares rose and 1,893 shares fell. A total of 165 shares were unchanged.

Buzzing Index:

The Nifty Metal index rose 0.92% to 5,883.35, advancing for second day. The index has gained 2.11% in two sessions.

Ratnamani Metals Tubes (up 5.21%), Vedanta (up 3.38%), Hindustan Copper (up 2.72%), Tata Steel (up 2.18%), National Aluminum Co. (up 1.57%), Coal India (up 1.22%), Hindustan Zinc (up 1.17%), NMDC (up 1.08%), Jindal Steel & Power (up 1.05%) and Hindalco Industries (up 0.51%) advanced.

Welspun Corp (down 4.07%), SAIL (down 1.38%) and Adani Enterprises (down 1.18%) declined.

Stocks in Spotlight:

One 97 Communications (Paytm) shed 0.20% to Rs 951.35. Paytm reported a consolidated net loss of Rs 778.50 crore in Q3 December 2021, higher than net loss of Rs 535.50 crore in Q3 December 2020. Consolidated net sales jumped 88.6% to Rs 1,456.10 crore in Q3 December 2021 over Rs 772 crore in Q3 December 2020. The growth was driven by increase in merchant payments processed through MDR bearing instruments (Paytm Wallet, Paytm bank account, other banks netbanking, debit and credit cards), disbursements of loans on platform and recovery of commerce business from COVID-19 impact.

InterGlobe Aviation (IndiGo) jumped 8.41% to Rs 2140.40 after the low-cost air carrier reported consolidated net profit of Rs 129.79 crore in Q3 December 2021, compared with net loss of Rs 620.14 crore in Q3 December 2020. Revenue from operations was at Rs 9294.8 crore for the quarter, an increase of 89.3% against a 50.3% increase in capacity compared to same period last year.

Lakshmi Machine Works gained 1.21% to Rs 10965.50. The company reported a 93.5% jump in consolidated net profit to Rs 64.37 crore in Q3 FY22 from Rs 33.26 crore posted in Q3 FY21. Consolidated net sales grew by 90.5% to Rs 911.7 crore in Q3 FY22 from Rs 478.56 crore posted in the same quarter last year.

Dr Reddy's Laboratories slipped 1.88% to Rs 4268.65. The company announced that the Drugs Controller General of India (DCGI) has granted approval to the single-shot Sputnik Light vaccine for restricted use in emergency situation in India.

Global Markets:

Asian stocks were trading mixed on Monday, with mainland China markets reopening following the Lunar New Year holidays last week. Stunningly strong US jobs data soothed concerns about the global economy but also added to the risk of an aggressive tightening by the Federal Reserve.

Investors continued to monitor the situation around Ukraine, with White House national security adviser Jake Sullivan reportedly warning Sunday that a Russian invasion could be imminent.

In US, the S&P 500 and Nasdaq Composite jumped Friday as continued strength in earnings reports extended the tech-led rebound from the January rout.

US employers added a burst of 467,000 jobs in January despite a wave of omicron inflections that sickened millions of workers, kept many consumers at home and left businesses from restaurants to manufacturers short-staffed. The Labor Department's report on Friday also showed the unemployment rate ticked up from 3.9% to 4%. Estimated job growth for December was also revised much higher, from 199,000 to 510,000.

Benchmarks extend losses; auto shares fall for 2nd day. 07February2022

 

The key equity indices edged lower as they extended losses in morning trade. The Nifty was trading below the 17,450 mark. Auto shares declined for the second consecutive session.

The barometer index, the S&P BSE Sensex, was down 281.71 points or 0.48% to 58,363.11. The Nifty 50 index lost 98.20 points or 0.56% to 17,418.10.

In the broader market, the S&P BSE Mid-Cap index declined 0.55% while the S&P BSE Small-Cap index fell 0.21%.

The market breadth was strong. On the BSE, 1,601 shares rose and 1,571 shares fell. A total of 166 shares were unchanged.

The Reserve Bank of India's Monetary Policy Committee will meet on February 8-10 instead of February 7-9, the central bank said on February 6. The change in the committee's meeting schedule comes after February 7 was declared as public holiday by the Maharashtra state government following the demise of renowned singer Lata Mangeshkar.

Results Today:

TVS Motor Company (up 0.78%), The Phoenix Mills (up 1.67%), National Aluminium Co. (up 0.21%), PB Fintech (up 0.63%), Minda Industries (down 1.45%), Indian Bank (up 3.89%), Jindal Stainless (up 1.55%), Clean Science and Technology (down 1.34%), Glaxosmithkline Pharmaceuticals (up 0.88%), Castrol India (up 0.82%), Union Bank Of India (up 3.96%), JM Financial (up 0.34%), KPR Mill (up 0.24%), Tube Investments of India (up 0.61%), Butterfly Gandhimathi Appliances (up 4.74%), are some of the company that will announce their quarter earnings today.

Buzzing Index:

The Nifty Auto index fell 0.78% to 11,470.50, extending decline for second day. The index has lost 1.82% in two sessions.

Bajaj Auto (down 1.61%), Hero MotoCorp (down 1.48%), TVS Motor Company (down 1.40%), Bharat Forge (down 1.39%), Eicher Motors (down 1%), Mahindra & Mahindra (down 0.99%), Tata Motors (down 0.52%), Maruti Suzuki (down 0.38%) declined while Ashok Leyland advanced 0.18%.

Stocks in Spotlight:

Bank of Baroda jumped 9.10% to Rs 116.30. The bank reported 107.17% rise in net profit to Rs 2197 crore on 14.38% rise in net interest income to Rs 8552 crore in Q3 FY22 over Q3 F21.

Siemens fell 2.62% to Rs 2358.65. Revenue from continuing operations in Q1 FY22 was Rs 3,197 crore, a 11.8 % increase over the same quarter in the preceding year. Profit after Tax from continuing operations was Rs. 245 crore, decreased by 6.5% over the same period last year.

FDC surged 6.43% to Rs 313.50. The company has scheduled a board meeting on February 9 to consider the proposal for buyback of shares.

Shares trade with minor cuts; market breadth remains strong. 07February2022

 

The domestic equity barometers traded with minor cuts in early trade, amid bouts of volatility. At 09:22 IST, the barometer index, the S&P BSE Sensex, was down 37.47 points or 0.06% to 58,607.35. The Nifty 50 index lost 43.90 points or 0.25% to 17,516.30.

Hindalco (up 2.45%), ONGC (up 1.28%), Sun Pharma (up 1.12%), Asian Paints (up 1%) and Divi's Lab (up 0.95%) were the top index gainers.

Hero MotoCorp (down 2.25%), SBI (down 1.97%), Mahindra & Mahindra (down 1.92%), NTPC (down 1.79%) and Eicher Motors (down 1.57%) were the top index losers.

In the broader market, the S&P BSE Mid-Cap index rose 0.24% while the S&P BSE Small-Cap index gained 0.43%.

The market breadth was strong. On the BSE, 1,260 shares rose and 554 shares fell. A total of 129 shares were unchanged.

The Reserve Bank of India's Monetary Policy Committee will meet on February 8-10 instead of February 7-9, the central bank said on February 6. The change in the committee's meeting schedule comes after February 7 was declared as public holiday by the Maharashtra state government following the demise of renowned singer Lata Mangeshkar.

Stocks in Spotlight:

Reliance Industries (RIL) added 0.61% to Rs 2346. Jio Platforms announced an investment of US$15 million in Two Platforms Inc. (TWO), a Silicon Valley based deep tech startup founded by Pranav Mistry, for a 25% equity stake on a fully diluted basis. Jio Platforms is a majority-owned subsidiary of RIL.

SBI gained 0.72% to Rs 534. The banking major reported 62.27% rise in net profit to Rs 8,432 crore on 4.41% rise in interest income to Rs 69,678 crore in Q3 FY22 over Q3 F21.

Tata Steel advanced 1.62% to Rs 1195.25. The steel major reported consolidated net profit of Rs 9,598 crore in Q3 FY22 from net profit of Rs 4,011 crore in Q3 FY21. Turnover rose to Rs 60,783 crore from Rs 41,935 crore.

Shree Cement was up 0.25% to Rs 24765.80. The cement major reported a 23.6% fall in consolidated net profit to Rs 482.70 crore in Q3 FY22 from Rs 631.58 crore posted in Q3 FY21. Consolidated net sales grew 2.2% to Rs 3,637.11 crore in Q3 FY22 over Q3 FY21.

Godrej Properties surged 6.20% to Rs 24765.80. The realty firm said its board has decided not to proceed with a previously announced plan to invest in DB Realty. The decision was taken after the board took into consideration the feedback from the stakeholders and minority investors.

Global Markets:

Asian stocks are trading lower on Monday, with mainland China markets reopening following the Lunar New Year holidays last week. Stunningly strong US jobs data soothed concerns about the global economy but also added to the risk of an aggressive tightening by the Federal Reserve.

Investors continued to monitor the situation around Ukraine, with White House national security adviser Jake Sullivan reportedly warning Sunday that a Russian invasion could be imminent.

In US, the S&P 500 and Nasdaq Composite jumped Friday as continued strength in earnings reports extended the tech-led rebound from the January rout.

US employers added a burst of 467,000 jobs in January despite a wave of omicron inflections that sickened millions of workers, kept many consumers at home and left businesses from restaurants to manufacturers short-staffed. The Labor Department's report on Friday also showed the unemployment rate ticked up from 3.9% to 4%. Estimated job growth for December was also revised much higher, from 199,000 to 510,000.