Stock Market Today: All You Need To Know Going Into Trade On Jan. 27
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
India’s equity markets will reopen after a break on Republic Day, while mainland China remains closed for the Lunar New Year holiday.
Asian markets follow the U.S. equities higher on Friday after a rally in tech shares helped investors shake off mixed economic data, but the risk of recession persists.
Equities in Australia rose as trading resumed after Thursday holiday, Japanese and Hong Kong markets also gained.
The S&P 500 closed at the highest level in more than a month, reflecting a jump in tech stocks. The Nasdaq 100 rose 2% to the highest level since September, led by an 11% gain for Tesla Inc. as Elon Musk teased potential for the carmaker to produce 2 million vehicles this year.
At 5:52 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.41% to 18,027.5.
Crude price were above $87 per barrel levels, while Bitcoin was trading around $23,000-level.
Domestic benchmark indices closed lower on Wednesday as losses in banks and financial stocks dragged the gauges. The Indian markets were closed on Thursday on account of Republic Day.
Rupee snapped its two-day decline against the U.S. dollar, growing stronger by 13 paise.
Overseas investors remained net sellers of Indian equities for the fourth straight day on Wednesday. Foreign portfolio investors offloaded equities worth Rs 2,393.94 crore. while the domestic institutional investors mopped up stocks worth Rs 1,378.49 for the fourth day, according to NSE data.
Stocks To Watch
Adani Enterprises: The company raised Rs 5,984.9 crore from allocating 1.83 crore equity shares to 33 anchor investors under the anchor portion of its Rs 20,000-crore FPO at Rs 3,276 per share.
Future Retail: Kishore Biyani, founder of Future Group, resigned from the position of executive chairman and director of the company.
Happiest Minds Technologies: The company acquired 100% stake in Sri Mookambika Infosolutions for a consideration of Rs 111 crore.
SJVN: The company sold its entire shareholding in Bhutanese joint venture Kholongchhu Hydro Energy as per directions from India’s Ministry of Power, for Rs 354.71 crore.
ONGC: The company appointed chairman Arun Kumar Singh as the chief executive officer.
LTIMindtree: The company partnered with Microsoft and Duck Creek Technologies to build a solution that will enable insurers to migrate their on-premises core systems to the cloud quickly and efficiently.
Tata Motors Q3 FY23 (Consolidated, YoY):
Revenue up 23% at Rs 88,488.6 crore (Bloomberg estimate: Rs 83,426 crore)
Ebitda up 53% at Rs 10,820.2 crore (Bloomberg estimate: Rs 1,563 crore)
Ebitda margin stood at 12.2% vs 9.8% (Bloomberg estimate: 7.8%)
Net profit at Rs 2,957.7 crore vs net loss of Rs 1,516.14 crore (Bloomberg estimate: Rs 147.3 crore)
Dr Reddy's Laboratories Q3 FY23 (Consolidated, YoY)
Revenue up 27% at Rs 6,790 crore (Bloomberg estimate: Rs 6,096 crore)
Ebitda up 60% at Rs 1,952 crore (Bloomberg estimate: Rs 1,547 crore)
Ebitda margin at 28.7% vs 22.9% (Bloomberg estimate: 25.4%)
Net profit up 75% at Rs 1,244 crore (Bloomberg estimate: Rs 908 crore)
Torrent Pharmaceuticals Q3 FY23 (Consolidated, YoY)
Revenue up 18% at Rs 2,491 crore (Bloomberg estimate: Rs 2,420 crore)
Ebitda up 35% at Rs 724 crore (Bloomberg estimate: Rs 717 crore)
Ebitda margin at 29.1% vs 25.5% (Bloomberg estimate: 29.6%)
Net profit up 14% at Rs 283 crore (Bloomberg estimate: Rs 327 crore)
Ceat Q3 FY23 (Consolidated, YoY)
Revenues up 13.01% at Rs 2,727.20 crore (Bloomberg estimate: Rs 3,017.60 crore)
Ebitda up 13.1% at Rs 181.14 crore (Bloomberg estimate: Rs 296.63 crore)
Ebitda margin flat at 6.64% (Bloomberg estimate: 9.8%)
Net profit at Rs 35.39 crore vs net loss of Rs 20.01 crore (Bloomberg estimate: Rs 93.27 crore)
Amara Raja Batteries Q3 FY23 (Consolidated, YoY)
Revenues up 11.49% at Rs 2,637.76 crore
Ebitda up 38.63% at Rs 394.6 crore
Ebitda margin at 14.96% vs 12.03%
Net profit up 52.7% at Rs 221.88 crore
Patanjali Foods Q3 FY23 (Standalone, YoY)
Revenues up 26.21% at Rs 7,926.64 crore
Ebitda down 12.4% at Rs 368.04 crore
Ebitda margin at 4.64% vs 6.69%
Net profit up 15% at Rs 269.19 crore
Tata Steel Long Products Q3 FY23 (Standalone, YoY)
Revenues up 6.75% at Rs 1,790.41 crore
Ebitda down 73.17% at Rs 67.41 crore
Ebitda margin at 3.77% vs 14.98%
Net loss of Rs 236.93 crore vs net profit of Rs 103.88 crore
Tata Elxsi Q3 FY23 (QoQ)
Revenue up 7.15% at Rs 817.74 crore
EBitda up 8.96% at Rs 246.86 crore
Ebitda margin at 30.19% vs 29.69%
Net profit up 11.71% at Rs 194.68 crore
DLF Q3 FY23 (Consolidated, YoY)
Revenues down 3.54% at Rs 1,494.80 crore
Ebitda down 8.46% at Rs 477.2 crore
Ebitda margin at 31.92% vs 33.64%
Net profit up 36.82% at Rs 519.21 crore
Vedanta, Bajaj Finance, Sterlite Technologies, AIA Engineerings, Godfrey Phillips India, HIL, Aarti Drugs, CMS Info Systems, Anupam Rasayan India, Aditya Birla Sun Life AMC, AGI Greenpac, Fineotex Chemical, Glenmark Life Sciences, Kalyani Steels, Manorama Industries, Paushak, Ramco Industries, Responsive Industries, Shree Digvijay Cement Co, TAJGVK Hotels & Resorts
Who’s Meeting Whom
Shoppers Stop: To meet investors and analysts on Jan. 30.
Ex-Date Interim Dividend: Metro Brands, Surya Roshni
Record Date Interim Dividend: Persistent Systems, National Aluminium Company, Surya Roshni
Pledge Share Details
Aurobindo Pharma: Promoter group created a pledge of 4.50 lakh shares on Jan. 21.
Ajanta Pharma: Promoter Aayush M Agrawal (trustee, Aayush Agrawal Trust) revoked a pledge of 8.20 lakh shares, promoter Ravi Agrawal (trustee, Ravi Agrawal Trust) revoked a pledge of 15.26 lakh shares, between Jan. 20-23.
Meghmani Organics: Promoter Natwarlal Meghnibhai Patel purchased 45,561 shares and Rameshbhai Meghjibhai Patel purchased 50,000, between Jan. 24-25.
Money Market Update
Rupee closed 0.16% higher against the U.S. dollar at 81.59 on Wednesday, compared to Tuesday’s close of 81.72.
Nifty February futures ended at 17,988.70, a discount of 224.15 points.
Nifty February futures rose 52.51% and 67,972 shares in Open Interest.
Nifty Bank February futures ended at 41,872.95, a discount of 1063.85 points.
Nifty Bank February futures rose 47.55% and 24,649 shares in Open Interest.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.