Stock Market Today: All You Need To Know Going Into Trade On Jan. 23
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Asian markets were poised to advance on Monday after a rebound on Wall Street last Friday and Fed comments alleviating fears of aggressive policy moves.
Markets in Hong Kong, Shanghai, Singapore and Seoul were closed for Lunar New Year celebrations. Many regional markets will remain closed until midweek and mainland China trading won’t resume until Jan. 30.
At 5:53 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.46% to 18,127.5.
U.S. stocks recovered from the week’s losses on the back of a rally in tech stocks. The S&P 500 rose 1.9%, while the tech-heavy Nasdaq 100 was up 2.9%. The yield on 10-year Treasuries advanced nine basis points to 3.48%.
Crude price declined 0.52%. The Bitcoin rally continued as the cryptocurrency rose around $22,300-level.
Domestic benchmark indices closed in the red at the end of week for the second day after dipping in the final minutes of trade.
Rupee ended the last session of the week higher than the U.S. dollar tracking broader weakness of the greenback.
Overseas Investors in Indian equities turned net sellers after a day on Friday. Foreign portfolio investors offloaded equities worth Rs 2,002.25 crore, while the domestic institutional investors, mopped up stocks worth Rs 1,509.95, according to NSE data.
Stocks To Watch
Reliance Industries: The company will raise Rs 20,000 crore via non-convertible debentures. Additionally, KV Kamath has jointed the company’s board as independent, effective Jan. 20, for a term of five years.
State Bank of India/ Canara Bank: The lender will sell its 40% stake in Moscow-based joint venture Commercial Indo Bank LLC to partner State Bank of India for $14.67 million.
Trent: The company executed a joint venture agreement with MAS Amity to set up an entity in India for jointly developing a business of intimate wear and other apparel related products.
Page Industries: The board will meet on Feb. 9 to consider third interim dividend for the fiscal and financial results for the quarter ended December 2022.
Lemon Tree Hotels: The company signed a franchised hotel in Kumbhalgarh , Rajasthan, which is expected to open in December 2023.
Strides Pharma: The World Health Organisation completed inspection of the company’s facility in Puducherry from Jan. 16-20.
Anupam Rasayan India: The board will meet on Jan. 27 to consider and approve second interim dividend for the fiscal and the financial results for the December quarter.
Embassy Office Parks REIT: The board will meet on Jan. 25 to consider and approve the proposal to raise debt, and the financial results for the December quarter.
ITC: Navneet Doda has stepped down from the board of the company as a non-executive director with effect from Jan. 20.
IDFC First Bank: The board of the bank approved approaching RBI for the appointment of Madhivanan Balakrishnan, chief operating officer, as the whole time director designated as executive director and chief operating officer.
Adani Enterprises: Step-down subsidiary Agneya Systems has formed a 56:44 joint venture with Armada Defence Systems manufacturing various types of products and parts for Indian armed forces.
Reliance Industries (Consolidated QoQ)
Revenue down 5.27% at Rs 2,20,592 crore (Bloomberg estimate: Rs 2,29,000 crore)
Ebitda up 24.04% at Rs 35,247 crore (Bloomberg estimate: Rs 33,626 crore)
Ebitda Margin at 16.2% vs 12.4% (Bloomberg estimate: 14.68%)
Net Profit up 14.79% at Rs 17,806 crore (Bloomberg estimate: Rs 16,037 crore)
JSW Steel Q3 FY23 (Consolidated, YoY)
Revenues up 2.79% at Rs 39,134 crore (Bloomberg estimate: Rs 39,601.07 crore)
Ebitda down 50.21% at Rs 4,547 crore (Bloomberg estimate: Rs 4,416.01 crore)
Ebitda margin at 11.62% vs 23.99% (Bloomberg estimate: 11.2%)
Net profit down 88.75% at Rs 490 crore (Bloomberg estimates: Rs 1,104.73 crore)
RBL Bank Q3FY23
Net profit up 33.97% at Rs 209 crore (YoY)
NII up 13.66% at Rs 1,148 crore (YoY)
Gross NPA at 3.61% Vs 3.80% (QoQ)
Net NPA at 1.18% Vs 1.26% (QoQ)
LTIMindtree Q3 FY23 (Consolidated, QoQ)
Revenues up 4.77% at Rs 8,620 crore (Bloomberg estimate: Rs 5,956.35 crore)
Ebit down 16.88% at Rs 1,196.70 crore (Bloomberg estimate: Rs 970.56 crore)
Ebit margin at 13.88% vs 17.5% (Bloomberg estimate: 16.29%)
Net profit down 15.82% at Rs 1,000.50 crore (Bloomberg estimate: Rs 969.11 crore)
JSW Energy Q3FY23 (Consolidated, QoQ)
Revenue down 5.82% at Rs 2248.09 crore (Bloomberg estimate: Rs 2,049.2 crore)
Ebitda down 29.72% at Rs 624.93 crore (Bloomberg estimate: Rs 777 crore)
Ebitda margin at 27.8% vs 37.2% (Bloomberg estimate: 37.92%)
Net Profit down 59.11% at Rs 186.74 crore (Bloomberg estimate: Rs 300.2 crore)
Kotak Mahindra Bank Q3FY23
Net profit up 30.97% at Rs 2,791 crore (YoY)
Net interest income up 30.43% Rs 5,654 crore (YoY)
Gross NPA at 1.90% Vs 2.08% (QoQ)
Net NPA at 0.43% Vs 0.55% (QoQ)
UltraTech Cement Q3 FY23 (Consolidated, YoY)
Revenues up 20% at Rs 15,521 crore
Ebitda down 3.45% at Rs 2,335.85 crore
Ebitda margin at 15% vs 19%
Net profit down 38% at Rs 1,062.58 crore
Yes Bank Q3FY23
Net Profit down 80.67% at Rs 51.5 crore (YoY)
Net interest income up 11.73% at Rs 1,971 crore (YoY)
GNPA at 2.02% vs 12.89% (QoQ)
NNPA at 1.03% vs 3.6% (QoQ)
During the quarter Yes Bank sold Rs 48,000 crore worth bad loans to JC Flowers ARC, bringing down its NPA ratios.
ICICI Bank Q3FY23
Net Profit up 34.19% at Rs 8,312 crore (YoY)
Net interest income up 34.56% at Rs 16,465 crore (YoY)
GNPA at 3.07% vs 3.19% (QoQ)
NNPA at 0.55% vs 0.61% (QoQ)
SBI Life Q3FY2023 (Consolidated, YoY)
Revenue up 30% at Rs 26,627 crore (Bloomberg estimate: Rs 25,021 crore)
Net profit down 16% to Rs 304 crore (Bloomberg estimate: Rs 447 crore)
VNB up 44% at Rs 3,630 crore (nine months)
VNB margin at 29.6% Vs 24.8% (nine months)
Axis Bank, Canara Bank, Jindal Stainless, Tata Communications, Jindal Stainless (Hisar), Container Corporation of India, KEI Industries, Zensar Technologies, Maharashtra Seamless, Shoppers Stop, Amber Enterprises India, Gland Pharma, Route Mobile, Syngene International, Craftsman Automation, Sagar Cements, Poonawalla Fincorp, Triveni Turbine, DCX Systems, Gravita India, IDBI Bank, IIFL Securities, Prudent Corporate Advisory Services, Rajratan Global Wire, Share India Securities, Bharat Bijlee, Supreme Petrochem, Tamil Mercentile Bank, HFCL, Jammu & Kashmir Bank
Hi-Tech Pipes: Motilal Oswal Funds bought 3 lakh shares (2.44%) at Rs 937 apiece and Kusum Aggrawal sold 66,000 (0.54%) shares at Rs 937.16 apiece.
Who’s Meeting Whom
Metro Brands: To meet investors and analysts on Jan. 23 and 31.
Anand Rathi Wealth: To meet investors and analysts on Jan. 28.
Move Into Short-Term ASM Framework: Sula Vineyards
Price Band Revised From 10% To 5: SEPC
Ajanta Pharma: Promoter Ravi Agarwal Trustee Ravi Agrawal revoked a pledge of 5 lakh shares, promoter Aayush M Agrawal trustee Aayush Agrawal Trust revoked a pledge of 34.96 lakh shares between Jan 18-20.
Money Market Update
Rupee closed 0.29% higher against the U.S. dollar at 81.13 on Friday, compared to Thursday’s close of 81.36.
Nifty January futures ended at 18,055.95, a discount of 57.20 points.
Nifty January futures fell 2.09% and 4,446 shares in Open Interest.
Nifty Bank January futures ended at 42,316, a premium of 199.10 points.
Nifty Bank January futures rise 11.15% and 7,778 shares in Open Interest.
Securities added to the ban period: Delta Corp, L&T Finance Holdings and PVR
Securities removed from the ban period: Gujarat Narmada Valley Fertilizers & Chemicals, Manappuram Finance