Stock Market Today: All You Need To Know Going Into Trade On Jan. 30
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Asian markets advance on Monday, as mainland China markets reopen and investors bet that the Federal Reserve will slow the pace of rate hikes later this week.
The U.S. stocks pushed higher on Friday as Wall Street brushed off disappointing outlooks from some of the world’s largest technology companies to see the Nasdaq 100 rally 1%. Equity futures for Japan suggested early gains and Australian shares edged higher.
At 6:06 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.17% to 17,719.5.
Meanwhile, the yield on 10-year Treasuries advanced three basis points to 3.52%.
Crude price was trading above $87-mark, whereas Bitcoin traded above $23,000-level.
Indian benchmark indices ended the week in red amid losses in certain stocks and banking scrips.
Rupee continued to rise against the U.S. dollar even as a weak show by domestic equities restricted gains.
Overseas investors in Indian equities remained net sellers of Indian equities for the fifth day in a row on Friday. Foreign portfolio investors offloaded equities worth Rs 5,977.86 crore, while the domestic institutional investors mopped up stocks worth Rs 4,252.33 for the fourth day in a row, according to NSE data.
Stocks To Watch
Hinduja Global Solutions: The board approved the proposal to buy back 60 lakh shares (24.59%) at Rs 1,700 apiece to raise Rs 1,020 crore.
Dixon Technologies (India): The company signed a term sheet with Mega Alliance Holdings for a 51:49 joint venture to design and manufacture mobile communication equipment and related Solutions in India.
Adani Enterprises: The Rs 20,000-crore FPO was subscribed 1% on the first day, with 2% subscription in the retail portion and 1% in the HNI basket. Employees picked up 4% of FPO shares reserved for them. The company has also issued a 413-page rebuttal to Hindenburg's report.
Cressanda Solutions: The board approved raising Rs 49.50 crore via a rights issue. Meanwhile, managing director Soumyadri Bose has resigned from the position, effective Jan. 27.
NMDC: Department of Investment and Public Asset Management announced that it has received multiple expressions of interest for privatisation of the NMDC Steel plant, and now the transaction can move to the second phase.
Borosil Renewables: The company started trial production from the second rolling line of SG-3 solar glass furnace.
Tube Investments of India: The company’s subsidiary Tl Clean Mobility will acquire the remaining 30.04% stake in Cellestial E-Mobility, currently held by the founders, for Rs 50.90 crore.
Firstsource Solutions: The board will meet on Feb. 2 to consider and approve an interim dividend for the current fiscal.
Vedanta Q3 FY23 (Consolidated, YoY)
Revenues down 0.02% at Rs 33,691 crore (Bloomberg estimate: Rs 33,981.1 crore)
Ebitda down 36.06% at Rs 6,656 crore (Bloomberg estimate: Rs 7242.78 crore)
Ebitda margin at 19.76% vs 30.89% (Bloomberg estimate: 21.3%)
Net profit down 40.83% at Rs 2,464 crore (Bloomberg estimate: Rs 17,42.9 crore)
The board approved an interim dividend of Rs 12.50 per share.
Bajaj Finance Q3 FY23
Net interest income up 24% at Rs 7,435 crore (YoY)
Net profit up 40% at Rs 2,973 crore (Bloomberg estimate: Rs 3,027 crore) (YoY)
Gross NPA at 1.14% vs 1.17% (QoQ)
Net NPA 0.41% vs 0.44% (QoQ)
Aarti Drugs Q3 FY23 (Consolidated, YoY)
Revenue up 4.59% at Rs 663.96 crore
Net profit down 37.07% at Rs 36.68 crore
Ebitda down 21.51% at Rs 70.64 crore
Ebitda margin at 10.64% vs 14.18%
Aditya Birla Sun Life AMC Q3 FY23 (Consolidated, QoQ)
Revenues up 0.95% at Rs 314.05 crore
Net profit down 13.25% at Rs 166.29 crore
Ebitda up 0.48% at Rs 183.15 crore
Ebitda margin at 58.32% vs 58.59%
Fineotex Chemical Q3 FY23 (Consolidated, YoY)
Revenues up 3.96% at Rs 109.23 crore
Ebitda up 13.88% at Rs 28.55 crore
Ebitda margin at 26.14% vs 23.86%
Net profit up 19.99% at Rs 22.15 crore
Godfrey Phillips India Q3 FY23 (consolidated, YoY)
Revenues up 28.23% at Rs 1,112.04 crore
Ebitda up 19.82% at Rs 209.75 crore
Ebitda margin at 18.86% vs 20.19%
Net profit up 70.26% at Rs 199.25 crore
AGI Greenpac Q3 FY23 (YoY)
Revenues up 43.39% at Rs 567.30 crore
Ebitda up 40.47% at Rs 109.55 crore
Ebitda margin at 19.31% vs 19.71%
Net profit up 80.81% at Rs 53.23 crore
ADF Foods, Asian Star Co., Astec Lifesciences, Bajaj Finserv, Bajaj Holdings & Investments, Bharat Petroleum Corporation, CSB Bank, LT Foods, Dhampur Sugar Mills, Dwarkesh Sugar Industries, Exide Industries, GAIL (India), Greenpanel Industries, IFB Industries, IIFL Finance, Indian Metals & Ferro Alloys, Inox Leisure, Laurus Labs, Larsen & Toubro, Mazagon Dock Shipbuilders, Mangalore Refinery & Petrochemicals, Nippon Life India Asset Management, Orient Electric, Punjab National Bank, REC, Savita Oil Technologies, SRF, Steel Strip Wheels, Transport Corporation of India, Tech Mahindra, Trident, VRL Logistics, Vardhman Special Steels, Welspun India
Polyplex Corporation: Utkarsh Trading & Holdings bought 2.30 lakh shares (0.73%) and Sanjiv Sarita Consulting sold 2.30 lakh shares (0.73%) at Rs 1,525 apiece.
Abans Holding: Mafatlal Kalidas Bhansali sold 3.52 lakh shares (0.71%), Rajnikant Mafatlal Bhansali sold 5 lakh shares (0.99%), Vishal Rajnikant Bhansali HUF sold 2.89 lakh shares (0.57%) at Rs 270 apiece.
Price Band Revised From 20% To 10%: Kiri Industries
Ex-Date Interim Dividend: 360 ONE WAM, Hindustan Zinc
Ex-Date Income Distribution: Powergrid Infrastructure Investment Trust
Record Date Interim Dividend: 360 ONE WAM, Hindustan Zinc
Record Date Income Distribution: Powergrid Infrastructure Investment Trust
Meghmani Finechem: Promoter Rameshbhai Meghjibhai Patel purchased 4,800 shares on Jan. 25.
Pledge Shares Details
Jindal Steel & Power: Promoter group Siddeshwari Tradex created a pledge of 9 lakh shares on Jan. 24.
Money Market Update
Rupee closed 0.08% higher against the U.S. dollar at 81.52 on Friday, compared to Wednesday’s close of 81.59.
Nifty February futures ended at 17,694.95, a discount of 290.95 points.
Nifty February futures rose 10.96% and 26,972 shares in Open Interest.
Nifty Bank February futures ended at 40,689.90, a discount of 1,174.55 points.
Nifty Bank February futures rose 26.91% and 20,576 shares in Open Interest.
Securities added to the ban period: Ambuja Cements
Securities removed from the ban period: Nil
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