Stock Market Today: All You Need To Know Going Into Trade On Feb. 6

Asian markets opened the week with a mixed message from equity futures with the headwinds from an unexpectedly strong U.S. jobs report and the downing of an alleged Chinese spy balloon that’s aggravated geopolitical tensions.

The U.S. stocks halted a three-day advance on Friday in a volatile session that saw equities swerve between modest gains and losses as investors contended with data pointing to a robust labor market.

The S&P 500 still notched a weekly gain that took the index to its highest level since August. The Nasdaq 100 also scored a weekly advance, despite heavy selling after Apple Inc., Alphabet Inc. and Amazon. com Inc. reported disappointing results Thursday.

According to Bloomberg, Adani Group assets are set for continued volatility this week, with one of the latest blows coming from Adani Enterprises Ltd. shelving plans for its first-ever public sale of bonds. The stock rout has roughly halved the market value of firms in the group since Hindenburg Research’s claims for manipulation and accounting fraud.

Indian headline indices resumed their weekly advances and rose on Friday, snapping their previous two-week gains week.

At 5:50 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was down 0.22% at 17,800.

Meanwhile, the yield on 10-year Treasuries was at 3.57%. Crude prices were trading around $80-mark, while Bitcoin stayed put to trade above the $22,500-level.

The Indian benchmark indices ended higher on Friday led by banking, financial, auto and consumer durable stocks.

Rupee snapped its three-day decline against the U.S. dollar to close higher at the end of the week.

• Adani Enterprises, Adani Ports and SEZ and Ambuja Cements: The three stocks will be under the NSE's short-term additional surveillance measure or ASM starting Feb. 6. From Monday, the applicable margin on the three stocks will be 50% or existing margin, whichever is higher, subject to maximum rate of margin capped at 100%, the NSE circular had said.

• Vodafone Idea: The government will convert the company’s AGR dues into equity. Vodafone Idea has been directed to issue 16.13 million equity shares of face value Rs 10 each at an issue price of Rs 10 each.

• Adani Power: The company confirmed that its subsidiary, Adani Power (Jharkhand), has received a communication from Bangladesh Power Development Board to consider a discount on the energy charge, but it is not considering any amendment to the power purchase agreement.

• Engineers India: The company has received an EPCM services contract for setting up gas based greenfield 4,000 TPD urea and 2300 TPD ammonia complex. It has also received orders from ADNOC Offshore, Abu Dhabi, UAE for minor engineering works for offshore facilities and a feasibility study for crude storage tanks at terminal facilities.

• Bajaj Finserv: Bajaj Allianz Life Insurance Co., a material subsidiary of the company, analysing the potential impact of the Budget recommendation to tax proceeds from non-linked policies with annual premium over Rs 5 lakh.

• Samvardhana Motherson International: The board is scheduled to meet on Feb. 8 to consider raising funds via issuance of bonds, debentures, non-convertible debt securities or through any other permissible mode.

• Mahindra & Mahindra Financial Services: The company appointed COO Raul Rebello as MD& CEO-Designate. He will assume the position after Ramesh Iyer, the current vice chairman & managing director of the company, superannuates on April 29, 2024.

• Bank of Baroda: RBI fined the bank Rs 30 lakh over violation of norms related to deposit interest rates and KYC.

State Bank of India Q3

• Net profit up 68.5% Rs 14,205.34 crore (YoY) (Bloomberg estimate: Rs 13,295 crore)

• NII up 24% at Rs 38,068 crore (YoY)

• GNPA at 3.14% vs 3.52% (QoQ)

• NNPA at 0.77% vs 0.8% (QoQ)

ITC Q3 (Consolidated figures, YoY)

• Revenue up 4% at Rs 19,020.65 crore (Bloomberg estimate: Rs 18,837.1 crore)

• Ebitda up 20% to Rs 6704.7 crore (Bloomberg estimate: Rs 6,384.95 crore)

• Ebitda margin at 35.2% vs 30.5% (Bloomberg estimate: 33.9%)

• Net profit up 23% to Rs 5,006.65 crore (Bloomberg estimate: Rs 4,740.18 crore)

• The board declared an interim dividend of Rs 6 per share.

Tata Power Q3 (Consolidated, QoQ)

• Revenue up 0.7% at Rs 14,129.1 crore (Bloomberg estimate: Rs 13,837.07 crore)

• Ebitda 32.6% Rs 2,334.7 crore (Bloomberg estimate: Rs 1,933.75 crore)

• Ebitda margin at 16.5% vs 12.5% (Bloomberg estimate: 14%)

• Net profit up 12.5% at Rs 1,052.14 crore (Bloomberg estimate: Rs 900.51 crore)

One 97 Communications (Paytm) Q3 (Consolidated, QoQ)

• Revenue up 8% at Rs 2,062 crore (Bloomberg estimate: Rs 2,120.43 crore)

• Ebitda loss fell 38% at Rs 330.70 crore (Bloomberg estimate: Rs 493.75 crore loss)

• Net loss contracted to Rs 392.1 crore (Bloomberg estimate: Rs 529.35 loss)

InterGlobe Aviation Q3 (Consolidated, YoY)

• Revenue up 61% to Rs 14,933 crore (Bloomberg estimate: Rs 14,198.4 crore)

• Ebitda rose 75% to Rs 3,117.8 crore (Bloomberg estimate: Rs 3,136.7 crore)

• Ebitda margin stood at 20.9% Vs 19.2% (Bloomberg estimate: 22.1%)

• Net profit up 996% at Rs 1,422.6 crore (Bloomberg estimate: Rs 1,274.7 crore)

Marico Q3 (Consolidated, QoQ)

• Revenues down 1% at Rs 2,470 crore (Bloomberg estimate: Rs 2,498.38 crore)

• Ebitda up 5% at Rs 456 crore (Bloomberg estimate: Rs 460.06 crore)

• Ebitda margin 18.5% vs 17.3% (Bloomberg estimate: 18.4%)

• Net profit up 9% at Rs 328 crore (Bloomberg estimate: Rs 324.79 crore)

• Results for Q2 and Q3 of this fiscal are not comparable to corresponding quarters of previous fiscal following acquisition of HW Wellness Solutions.

Thyrocare Q3 FY23 (Consolidated, YoY)

• Revenue up 6% at Rs 117 crore (Bloomberg estimate: Rs 127 crore)

• Ebitda down 28% to Rs 26 crore (Bloomberg estimate: Rs 34 crore)

• Ebitda margin at 22.1% Vs 32.7% (Bloomberg estimate: 26.6%)

• Net profit down 44% at Rs 13 crore (Bloomberg estimate: Rs 20 crore)

Aarti Industries Q3 FY23 (Consolidated, YoY)

• Revenues down 19.68% at Rs 1,667.68 crore (Bloomberg estimate: Rs 1,665.8 crore)

• Ebitda down 67.56% at Rs 288.68 crore (Bloomberg estimate: Rs 269.1 crore)

• Ebitda margin at 17.31% vs 42.86% (Bloomberg estimate: 16.2%)

• Net profit down 81.18% at Rs 136.53 crore (Bloomberg estimate: Rs 125.85 crore)

• The board declared interim dividend of Re 1 per share.

P&G Health (Consolidated, YoY)

• Revenue up 12% at Rs 309.9 crore Vs Rs 277.9 crore 

• Net profit up 71% to Rs 76.8 crore Vs Rs 44.8 crore 

• Ebitda up 76% to Rs 108.9 crore Vs Rs 61.8 crore 

• Margins at 35.1% Vs 22.3% 

• The board declared interim dividend of Rs 45 per share.

JK Cement (Consolidated, YoY)

• Revenue up 20% at Rs 2,432.5 crore Vs Rs 2,030.5 crore 

• Net profit down 73% to Rs 38.9 crore Vs Rs 142.7 crore 

• EBITDA down 33% to Rs 243.73 crore Vs Rs 365.53 crore 

• Margins at 10% Vs 18%

Tata Steel, Adani Transmission, LIC Housing Finance, Muthoot Finance, Hitachi Energy India, Sansera Engineering, Suven Pharmaceuticals, Tejas Networks, Action Construction Equipment, Balaji Amines, Bls International Services, Easy Trip Planners, Fairchem Organics, Honda India Power Products, Huhtamaki India, Indo Count Industries, Infibeam Avenues, JK Paper, Kolte-Patil Developers, KPR Mill, Mold-Tek Packaging, Monte Carlo Fashions, Nuvoco Vistas Corporation, Shankara Building Products, Shree Global Tradefin, SJVN, Tasty Bite Eatables, TCPL Packaging, Unichem Laboratories, Uniroyal Marine Exports, Varun Beverages, Vinati Organics, V-Mart Retail, Wardwizard Innovations & Mobility

• GMR Airports Infrastructure: Deccan Value Investors Fund bought 3.1 crore shares (0.51%), Veda Investors Fund bought 5.75 crore shares (0.95%), C/D Investors Fund sold 5.5 crore shares (0.91%) and H/D Investors Fund sold 3.35 crore shares (0.55%) at Rs 37.3 apiece.

• Aarti Pharmalabs: JP Morgan Funds sold 7.14 lakh shares (0.78%) at Rs 255.33 apiece.

• Tasty Bite Eatables: To meet investors and analysts on Feb. 6.

• Chennai Petroleum Corporation: To meet investors and analysts on Feb. 6.

• Price Band Revised From 10% To 5%: Adani Green Energy

• Ex-Date Interim Dividend: Container Corporation of India, Mindspace Business Parks REIT, Siyaram Silk Mills, Sona BLW Precision Forging

• Record Date Interim Dividend: Container Corporation of India, Mindspace Business Parks REIT, Siyaram Silk Mills, Sona BLW Precision Forging

• Move Into Short-Term ASM Framework: Adani Enterprises, Adani Ports and SEZ and Ambuja Cements

• Move Into Short-Term ASM Framework: Apar Industries

• Rupee closed 0.42% higher against the U.S. dollar at 81.84 on Friday, compared to Thursday’s close of 82.18.

• Nifty February futures ended at 17,867, a premium of 191.75 points.

• Nifty February futures fell 6.39% and 13,682 shares in Open Interest.

• Nifty Bank February futures ended at 41,684.85, a premium of 747.05 points.

• Nifty Bank February futures fell 8.41% and 8,348 shares in Open Interest.

• Securities added to the ban period: Adani Ports

• Securities removed from the ban period: Ambuja Cements

Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.