Stock Market Today: All You Need To Know Going Into Trade On Jan. 25
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Asia markets opened on a cautious open, with post-market forecast from Microsoft Corp. damping sentiment further and pushing down US equity futures. Hong Kong and mainland China markets remain closed for the Lunar New Year holiday.
The S&P 500 closed 0.1% lower to snap a two-day advance. The Nasdaq 100 shed 0.2%. In early Asian trading, Nasdaq 100 futures slid around 0.6% after Microsoft said revenue growth in its Azure cloud-computing business would decelerate, tarnishing what had been an encouraging profit report.
At 6:15 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was down 0.02% to 18,130.
Crude price fell 2% and Bitcoin fell nearly 1% around the $22,000-level.
Domestic benchmark indices ended flat after a volatile session even as auto, technology and banking stocks gained.
Rupee again closed lower against the U.S. dollar in the face of continued FII outflows.
Overseas investors in Indian equities remained net sellers for the third straight day on Tuesday. Foreign portfolio investors offloaded equities worth Rs 760.51 crore, while the domestic institutional investors mopped up stocks worth Rs 1,144.75 for the third day, according to NSE data.
Stocks To Watch
Tata Steel/TCS/Tata Power: Tata Trusts, the majority stakeholder in Tata Sons, appointed Siddharth Sharma as the CEO and Aparna Uppaluri as COO, effective April 1, 2023.
New Delhi Television: The company appointed Mumbai based education consultant Viral Jagdish Doshi as additional director.
Barbeque -Nation Hospitality: Anurag Mittal resigned from the office of chief financial officer of the company, effective Feb. 6, 2023.
Axiscades Technologies: The board decided to not go ahead with the the acquisition of Germany-based Add Solution after due diligence.
Rail Vikas Nigam: The company received a contract with project cost of Rs 38.4 crore for provision of automatic block signalling in Arakkonam Junction-Nagari Section of Chennai division under Southern Railway.
Coffee Day Enterprises: SEBI imposed a fine of Rs 26 crore against the company for diversion of funds by seven subsidiaries to a company related to promoters.
Sonata Software: The company appointed Samir Dhir, the current whole-time director and CEO of the company as MD and CEO, and the current MD Srikant Reddy as executive vice chairman.
State Bank of India: United Forum of Bank Unions has called for a two-day nationwide bank strike on Jan. 30 and 31.
TVS Motor Q3 FY23 (Consolidated, YoY)
Revenue up 22% at Rs 8,066.1 crore (Bloomberg estimate: Rs 6,345 crore)
Ebitda up 33% at Rs 1,021.9 crore (Bloomberg estimate: Rs 661.6 crore)
Ebitda margin at 12.7% vs 11.7% (Bloomberg estimate: 10.4%)
Net profit up 23% at Rs 303.9 crore (Bloomberg estimate: Rs 352.6 crore)
The board approved interim dividend of Rs 5 per share.
Pidilite Industries Q3 FY23 (Consolidated YoY)
Revenue up 5% at Rs 2,997.59 crore (Bloomberg estimate: Rs 3,129.24 crore)
Ebitda down 10% at Rs 495.86 crore (Bloomberg estimate: Rs 570.98 crore)
Ebitda margin stood at 16.5% vs 19.3% (Bloomberg estimate: 18.2%)
Net profit down 15.2% at Rs 304.17 crore (Bloomberg estimate: Rs 377.7 crore)
PDS Q3 FY23 (Consolidated, YoY)
Revenues up 15.33% at Rs 2,573.75 crore
Ebitda up 26.98% at Rs 131.77 crore
Ebitda margin at 5.12% vs 4.65%
Net profit up 17.89% at Rs 77.51 crore
Rahul Ahuja has been appointed as the CFO, effective Jan. 25, after the resignation of Ashish Gupta.
Indus Towers Q3 FY23 (Consolidated, QoQ)
Revenues down 15.08% at Rs 6,765 crore
Ebitda down 33.7% at Rs 3,024.3 crore
Ebitda margin at 44.71% vs 57.26%
Net loss of Rs 708.2 crore vs profit of Rs 871.8 crore
Macrotech Developers Q3 FY23 (Consolidated, YoY)
Revenues down 13.87% at Rs 1,773.8 crore
Ebitda down 15.68% at Rs 403.75 crore
Ebitda margin at 22.76% vs 23.25%
Net profit up 41.65% at Rs 404.54 crore
United Spirits Q3 FY23 (Consolidated, YoY)
Revenues down 5.72% at Rs 2,778.7 crore
Ebitda down 28.32% at Rs 371.8 crore
Ebitda margin at 13.38% vs 17.6%
Net profit down 28.5% at Rs 214.2 crore
CardTrade Tech Q3 FY23 (Consolidated, QoQ)
Revenues up 10.6% at Rs 97.21 crore
Ebitda up 29.58% at Rs 10.6 crore
Ebitda margin at 10.90% vs 9.31%
Net profit up 279.07% at Rs 13.04 crore
Triveni Engineering & Industries Q3 FY23 (Consolidated, YoY)
Revenues up 34.26% at Rs 1,658.71 crore
Ebitda down 4.66% at Rs 193.38 crore
Ebitda margin 11.66% vs 16.42%
Net profit up 13.19% at Rs 147.28 crore
Nazara Technologies Q3 FY23 (Consolidated, QoQ)
Revenues up 19.33% at Rs 314.8 crore
Ebitda up 119.71% at Rs 30.1 crore
Ebitda margin at 9.56% vs 5.19%
Net profit up 77.45% at Rs 18.1 crore
Amara Raja Batteries, Bajaj Auto, Bikaji Foods International, Blue Dart, Ceat, Chennai Petroleum Corporation, Cipla, Dixon Technologies, DLF, Dr Reddy's Laboratories, Embassy Office Parks REIT, Go Fashion, Indraprashtha Gas, Indian Bank, India Grid Trust, Johnson Controls-Hitachi Air Conditioning India, Jindal Saw, Jyothy Labs, Kirloskar Pneumatic Company, Patanjali Foods, Solar Industries India, Tata Elxsi, Tata Motors, Tata Steel Long Products, TeamLease Services, Torrent Pharmaceuticals, Asahi India Glass, Best Agrolife, Equitas Holdings, Olectra Greentech, Shanthi Gears, Sundaram-Clayton, VIP Industries, VST Industries
Who’s Meeting Whom
Maharashtra Seamless: To meet investors and analysts on Jan. 25.
Indian Energy Exchange: To meet investors and analysts on Jan. 25.
Ex-Date Interim Dividend: Havells India
Ex-Date Interim Dividend: National Aluminium Company
Ex-Date Interim Dividend: Persistent Systems
Record Date Interim Dividend: Wipro
Money Market Update
Rupee closed 0.41% lower against the U.S. dollar at 81.72 on Tuesday, compared to Monday’s close of 81.39.
Nifty January futures ended at 18,118.90, a discount of 29.25 points.
Nifty January futures fell 23.16% and 40,903 shares in Open Interest.
Nifty Bank January futures ended at 42,745.20, a discount of 116.75 points.
Nifty Bank January futures fell 31.21% and 15,930 shares in Open Interest.
Securities added to the ban period: Nil
Securities removed from the ban period: Delta Corp, L&T Finance Holdings and PVR