Stock Market Today: All You Need To Know Going Into Trade On Jan. 24

Asian equities open on a positive note on Tuesday following the gains on Wall Street amid the strength in technology stocks and bets for less-aggressive rate hikes from the Federal Reserve.

Stocks edged up in Australia and Japan, after the Nasdaq 100 had its best two-day rally since November. The S&P 500 gained 1.2%, extending its surge to 12% from an October low.

At 6:10 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.45% to 18,227.5.

Crude price rose above $88 per barrel. The Bitcoin traded around the $23,000-level.

Domestic benchmark indices ended half a percent higher after a strong run through the day, buoyed by gains in IT, bank, auto and FMCG stocks.

The rupee opened the week stronger against the U.S. dollar, moving above the 81-mark, but lost steam later in the day to close in the red.

Overseas investors in Indian equities remained net sellers for the second-straight day on Monday. Foreign portfolio investors offloaded equities worth Rs 219.87 crore, while the domestic institutional investors, mopped up stocks worth Rs 434.96, for the second day, according to NSE data.

• Maruti Suzuki India: The company recalled 11,1177 units of Grand Vitara manufactured between Aug. 8 and Nov. 15 last year over a possible defect in rear seat belt mounting brackets.

• Vedanta: The board will meet on Jan. 27 to consider and approve the fourth interim dividend for the current fiscal.

• FSN E-Commerce Ventures: The board appointed P Ganesh as chief financial officer, effective Feb. 3.

• National Highways Infra Trust: Balasubramanyam Sriram stepped down as the non-executive chairman of the company, with effect from March 31, 2023, on account of personal reasons.

• TCI Express: The board will meet on Jan. 31 to, inter alia, consider and approve the second interim dividend for the current fiscal.

• Welspun Corp: Saudi Arabia-based associate company East Pipes Integrated Company for Industry signed contracts for supply of steel pipes for water transmission with a total value of 569 million Saudi riyals (Rs 1,234.03 crore).

• Dilip Buildcon: The company’s joint venture DilipBuildcon-Skyway Infraprojects has been selected by Madhya Pradesh Jal Nigam as the successful bidder for the engineering, procurement, construction, testing, commissioning, trial run, operation and maintenance of various components of Rewa Bansagar at a project cost of Rs 1947.06 crore.

• NBCC (India): The company secured total business of Rs 309.10 crore in December 2022.

• Sterlite Technologies: The board on Jan. 27 will consider the proposal to raise funds through rights issue.

• Tata Motors: The company confirmed that the voluntary delisting of its American Depositary Shares, representing its ordinary shares, from the New York Stock Exchange will become effective close of trading on Jan. 23, 2023.

• NTPC: The company completed trail operation of Unit-1 of North Karanpura Super Thermal Power Project, and added the 660 MW capacity unit in its total installed capacity.

• Axis Bank Q3FY23

Net profit up 62% at Rs 5,853 crore (YoY)

NII up 32% at Rs 11,460 crore (YoY)

Gross NPA at 2.38% vs 2.50% (QoQ)

Net NPA at 0.47% vs 0.51% (QoQ)

• Poonawalla Fincorp Q3 FY23

Net profit up 87.53% at Rs 150.42 crore (YoY)

NII up 33.2% Rs 360 crore (YoY)

Gross NPA at 1.69% vs 4.05% (QoQ)

Net NPA at 0.89% vs 1.97% (QoQ)

• Karur Vysya Bank Q3 FY23

Net profit up 56% at Rs 289 crore (YoY)

Net interest income up 30% at Rs 889 crore (YoY)

Gross NPA at 2.66% vs 3.97% (QoQ)

Net NPA at 0.89% vs 1.36%

The board extended the tenure of MD and CEO B Ramesh Babu for three years, effective July 29, 2023.

• Jammu & Kashmir Bank Q3 FY23

Net profit up 79% at Rs 311.59 crore (YoY)

Net interest income up 27% at Rs 1,257.38 crore (YoY)

Gross NPA at Rs 7.25% vs 7.67% (QoQ)

Net NPA at Rs 2.08% vs 2.1% (QoQ)

• Gland Pharma Q3 FY23 (Consolidated, YoY)

Revenue down 12% at Rs 938.2 crore (Bloomberg estimate: Rs 1,114 crore)

Ebitda down 17% to Rs 289.47 crore (Bloomberg estimate: Rs 351 crore)

Ebitda margin at 30.9% Vs 32.8% (Bloomberg estimate: 31.5%)

Net profit down 15% at Rs 231.90 crore (Bloomberg estimate: Rs 269 crore)

• Container Corporation of India Q3 FY23 (Consolidated, QoQ)

Revenues up 0.91% at Rs 2,004.46 crore (Bloomberg estimates: Rs 2,066.92 crore)

Ebitda down 14.91% at Rs 430.16 crore (Bloomberg estimates: Rs 465.2 crore)

Ebitda margin at 21.46% vs 25.45% (Bloomberg estimates: 22.5%)

Net profit down 3.05% at Rs 294.20 crore (Bloomberg estimates: Rs 294.37 crore)

The board approved dividend of Rs 4 per share.

• Tata Communications Q3 FY23 (Consolidated, QoQ)

Revenues up 2.2% at Rs 4,528.34 crore vs Rs 4,430.74 crore

Ebitda down 4.63% at Rs 1,077.36 crore vs Rs 1,129.62 crore

Ebitda margin at 23.79% vs 25.5%

Net profit down 26% at Rs 393.88 crore vs Rs 532.29 crore

• Syngene International Q3 FY23 (Consolidated, YoY)

Revenue up 23% at Rs 786 crore (Bloomberg estimate: Rs 779 crore)

Ebitda up 34% at Rs 247 crore (Bloomberg estimate: Rs 234 crore)

Ebitda margin at 31.4% vs 28.6% (Bloomberg estimate: 30%)

Net profit up 5% at Rs 110 crore (Bloomberg estimate: Rs 119 crore)

• Zensar Technologies Q3 FY23 (Consolidated, QoQ)

Revenues down 3% at Rs 1,197.60 crore

Ebitda up 51.6% at Rs 85.2 crore

Ebitda margin at 7.11% vs 4.55%

Net profit up 34.68% at Rs 76.50 crore

The board appointed Manish Tandon as MD and CEO for five years, effective Jan.23. Anant Vardhan Goenka relinquished the post of interim MD, and has been appointed as non-executive vice chairman.

• Jindal Stainless (Hisar) Q3 FY23 (Consolidated, YoY)

Revenues up 2.68% at Rs 4,285.27 crore

Ebitda down 35.47% at Rs 367.31 crore

Ebitda margin at 8.57% vs 13.64%

Net profit down 32.97% at Rs 344.33 crore

• IIFL Securities Q3 FY23 (Consolidated, YoY)

Revenues up 8.03% at Rs 342.02 crore

Ebitda up 10.89% at Rs 115.63 crore

Ebitda margin at 33.81% vs 32.93%

Net profit up 15.58% at Rs 64.17 crore

The board declared an interim dividend of Rs 3 per share.

• KEI Industries Q3 FY23 (Consolidated, YoY)

Revenues up 14.1% at Rs 1,784.32 crore

Ebitda up 16.17% at Rs 182.18 crore

Ebitda margin at 10.21% vs 10.03%

Net profit up 27.04% at Rs 128.6 crore

The board declared an interim dividend of Rs 3 per share

Maruti Suzuki India, Indus Towers, TVS Motor Company, SBI Cards and Payment Services, Pidilite Industries, United Spirits, Macrotech Developers, Supreme Industries, Sonata Software, CG Power and Industrial Solutions, Colgate Palmolive (India), Triveni Engineering & Industries, Granules India, Sharda Cropchem, Strides Pharma Science, Vaibhav Global, Laxmi Organic Industries, Sona BLW Precision Forgings, PNB Housing Finance, HDFC Asset Management Company, Gateway Distriparks, Nazara Technologies, Chalet Hotels, Apollo Pipes, Kaveri Seed Company, Tatva Chintan Pharma Chem, CarTrade Tech, Motilal Oswal Financial Services, Powergrid Infrastructure Investment Trust, South Indian Bank, UCO Bank, Elecon Engineering Company, Home First Finance Company India, Indoco Remedies, Latent View Analytics, PDS, Tata Coffee

• Persistent Systems: To meet investors and analysts on Jan. 24.

• Indian Energy Exchange: To meet investors and analysts on Jan. 24 and 25.

• Can Fin Homes: To meet investors and analysts on Jan. 25.

• SIS: To meet investors and analysts on Feb. 9 and 15.

• Ex-Date Interim Dividend: Angle One

• Ex-Date EGM: Precision Wires India

• Ex-Date Interim Dividend: Wipro

• Record Date Interim Dividend: Angle One

• Record Date EGM: Precision Wires India

• Eris Lifesciences: Promoter and director Amit Indubhusan Bakshi purchased 2.03 lakh shares on Jan. 20.

• Max Financials: Promoter Max Ventures Investment Holdings revoked a pledge of 20.54 lakh shares on Jan. 9.

• Rupee closed 0.33% lower against the U.S. dollar at 81.39 on Monday, compared to Friday’s close of 81.13.

• Nifty January futures ended at 18,150.80, a premium of 96 points.

• Nifty January futures fell 15.20% and 31,653 shares in Open Interest.

• Nifty Bank January futures ended at 42,845, a premium of 303.05 points.

• Nifty Bank January futures fell 17.67% and 10,955 shares in Open Interest.

• Securities added to the ban period: Delta Corp, L&T Finance Holdings and PVR

• Securities removed from the ban period: Nil