Stock Market Today: All You Need To Know Going Into Trade On Feb. 9

Asian markets headed for declines on Thursday as fresh insights from Federal Reserve officials prompted investors to rethink the broadly bullish response to central bank commentary over the past week.

The S&P 500 declined 1.1% and the tech-heavy Nasdaq 100 fell 1.8%.

The knock to risk sentiment hinged on comments from four Fed officials who spoke at separate events Wednesday and reinforced a shared message: the fight against inflation is not yet won.

At 6:03 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was down 0.02% at 17,886.5.

Meanwhile, the yield on 10-year U.S. Treasuries was at 3.62%. Crude price was trading at $85-mark, while Bitcoin traded around $22,000-level.

The Indian benchmark indices continued trading higher through midday after it opened with slim gains on Wednesday.

Rupee strengthened against the U.S. dollar as the Monetary Policy Committee hiked policy rate by another 25 basis points.

Overseas investors in Indian equities remained net sellers for the fifth day in a row on Wednesday. Foreign portfolio investors offloaded equities worth Rs 736.82 crore, while the domestic institutional investors mopped up stocks worth Rs 941.16 crore for the 13th day in a row.

• Vedanta: As per S&P Global Ratings, the next few weeks will be crucial for Vedanta Resources Ltd. The company is highly likely to meet its obligations until September 2023. However, sustaining liquidity beyond that would depend on the completion of at least one of two key ongoing transactions: a targeted US$2 billion fund raising exercise, and a proposed sale of international zinc assets by Vedanta Ltd. (Vedanta Resources has 70% stake) to Hindustan Zinc Ltd. (Vedanta Ltd. has 65% ownership).

• Larsen & Toubro: The company received an order worth Rs 2,585 crore from Ministry of Defence for supply for 41 sets of modular bridges for the Corps of Engineers of the Indian Army.

• Navin Fluorine: The company’s subsidiary Navin Fluorine Advanced Sciences commenced commercial production at the multi-purpose plant and plant for manufacture of a key agro-chemical intermediate in Dahej, Gujarat.

• RBL Bank: The bank received RBI’s approval for re-appointment of Rajeev Ahuja as executive director of the bank for a period of three years with effect from Feb. 21, 2023.

• Reliance Industries: Jio-bp, a fuels and mobility joint venture between RIL and bp, announced the initial rollout of E20 petrol.

• Indian Bank: The bank increased its repo benchmark rate, effective Feb. 9, to 6.5%.

Piramal Enterprises Q3 FY23 (Consolidated)

• NII up 113.31% at Rs 2,272.31 crore (YoY)

• Net profit up 299.27% at Rs 3,545.37 crore (Bloomberg estimate: Rs 459.65 crore) (YoY)

• GNPA at 4% vs 3.7% (QoQ)

• NNPA at 1.7% vs 1.3% (QoQ)

Uno Minda Q3 FY23 (Consolidated, YoY)

• Revenue up 33.65% at Rs 2,915.49 crore

• EBITDA up 43.8% at Rs 338.40 crore

• EBITDA margin at 11.61% vs 10.79%

• Net profit of Rs 41.67 crore vs net loss of Rs 1.58 crore

• The board approved dividend of Rs 0.50 per share.

Adani Power Q3 FY23 (Consolidated, YoY)

• Revenue up 44.83% at Rs 7,764.41 crore

• Ebitda down 17% at Rs 1,469.73 crore

• Ebitda margin at 18.93% vs 33.03%

• Net profit down 96% at Rs 8.77 crore

Godrej Agrovet Q3 FY23 (Consolidated, YoY)

• Revenue up 11.79% at Rs 2,323.5 crore (Bloomberg estimate: Rs 2,381.66 crore)

• EBITDA up 0.07% at Rs 136.29 crore (Bloomberg estimate: Rs 165.66 crore)

• EBITDA margin at 5.87% vs 6.55% (Bloomberg estimate: 7%)

• Net profit up 78.94% at Rs 116.42 crore (Bloomberg estimate: Rs 87.78 crore)

JB Chemicals & Pharmaceuticals Q3 FY23 (Consolidated, YoY)

Revenue up 37% at Rs 729 crore (Bloomberg estimate: Rs 765 crore)

• Ebitda up 48% to Rs 169 crore (Bloomberg estimate: Rs 170 crore)

• Ebitda margin at 23.3% vs 21.4% (Bloomberg estimate: 22.2%)

• Net profit up 36% to Rs 101 crore (Bloomberg estimate: Rs 103 crore)

• The board approved an interim dividend of Rs 8.50 per share.

Cummins India Q3 FY23 (Consolidated, YoY)

• Revenues up 25.31% at Rs 2,185.04 crore

• Ebitda up 51.57% at Rs 413.10 crore

• Ebitda margin at 18.91% vs 15.63%

• Net profit up 65.85% at Rs 413.8 crore

• The board approved an interim dividend of Rs 12 per share.

Life Insurance Corporation of India, Hindustan Petroleum Corporation, Hindalco Industries, General Insurance Corporation of India, Aurobindo Pharma, MRF, Hindustan Aeronautics, Lupin, Kalpataru Power Transmission, Voltas, Zomato, United Breweries, Page Industries, Finolex Cables, Brigade Enterprises, IRCTC, Devyani International, GE T&D India, Fine Organic Industries, RITES, Pfizer, Greaves Cotton, Sapphire Foods, Krishna Institute of Medical Sciences, Lux Industries, Sudarshan Chemical Industries, Lumax Industries, Natco Pharma, HealthCare Global Enterprises, Alkyl Amines Chemicals, Rainbow Children's Medicare, Navneet Education, Matrimony.com, Bajaj Consumer Care, Ujjivan Financial Services, Indian Overseas Bank, NESCO, Suzlon Energy, Alembic, Bombay Dyeing & Manufacturing Company, Cholamandalam Financial Holdings, Jtekt India, Sula Vineyards, Agarwal Industrial Corporation, Akzo Nobel India, Aptech, Adani Total Gas, DCW, DISA India, EIH Associated Hotels, FDC, Force Motors, Garware Technical Fibres, Gokul Agro Resources, HMT, KNR Construction, MTAR Technologies, Nirlon, Orchid Pharma, Panama Petrochem, Paras Defence and Space Technologies, Sandur Manganese & Iron Ores, SEAMEC, SEPC, SJS Enterprises, Suryoday Small Finance Bank, TGV SRAAC, TVS Srichakra, Veranda Learning Solutions, WPIL

• Endurance Technologies: To meet investors and analysts on Feb. 9.

• Clean Science and Technology: To meet investors and analysts on Feb. 9-10.

• Max Financial Services: To meet investors and analysts on Feb. 9.

• Barbeque-Nation Hospitality: To meet investors and analysts on Feb. 9-10.

• UltraTech Cement: To meet investors and analysts on Feb. 9.

• Elgi Equipments: To meet investors and analysts on Feb. 24.

• Nuvoco Vistas Corporation: To meet investors and analysts on Feb. 9-10.

• Kolte-Patil Developers: To meet investors and analysts on Feb. 9.

• CreditAccess Grameen: To meet investors and analysts on Feb. 10 and 13.

• Ex-Date Interim Dividend: Gillette India, Greenpanel Industries, Orient Electric, REC

• Record Date Interim Dividend: Gillette India, Greenpanel Industries, Orient Electric, REC

• Move Out Of Short-Term ASM Framework: Adani Green, Adani Total Gas, Lloyds Steels Industries, Schneider Electric Infrastructure, Rama Steel Tubes

• Steel Strips Wheels: Promoter RK Garg purchased 14,495 shares on Feb. 7.

• Quess Corp: Promoter & Director Ajit Issac purchased 35,000 shares on Feb. 7.

• Jindal Steel & Power: Promoter group Siddeshwari Tradex revoked a pledge of 11.20 lakh shares and Opelina Sustainable Service revoked a pledge of 5,556 shares on Feb. 7.

• Rupee closed 0.25% higher against the U.S. dollar at 82.49 on Wednesday, compared to Tuesday’s close of 82.70.

• Nifty February futures ended at 17,908.65, a premium of 126 points.

• Nifty February futures fell 4% and 8,410 shares in Open Interest.

• Nifty Bank February futures ended at 41,653, a premium of 11.75 points.

• Nifty Bank February futures rose 2%% and 1,900 shares in Open Interest.

• Securities added to the ban period: Ambuja Cements, Indiabulls Housing Finance

• Securities removed from the ban period: Nil

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• Craftsman Automation - Engineering DNA Crafts New Opportunities: Motilal Oswal Initiates Coverage

• RBI Monetary Policy Review - To Remain Watchful On The Upcoming Trend Of Inflation: KRChoksey

• Life Insurance - Individual WRP For Private Players Grows 14.2% YoY In Jan; LIC Rises 3.0%: Motilal Oswal

• Decoding The Capital Expenditure Budget: Motilal Oswal's Analysis

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