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Nifty today formed a bullish candle with a longer lower shadow on the daily charts, which indicates support based buying at lower levels but the trend is taking pressure at higher zones.
Now, till it holds below 17777 zones, a bounce could be sold for the downside move towards 17500, then 17350 zones whereas hurdles are placed at 17777 and 17850 zones, said Chandan Taparia of Motilal Oswal.
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IFB Industries posts narrower Q3 loss on engineering unit boost
IFB’s consolidated net loss narrowed to Rs 11.4 million ($139,890) in the three months ended Dec. 31, from Rs 32.1 million a year earlier when high costs and low demand hurt margins.
Consumers in India have limited their budgets due to rising inflation, which has resulted in low demand for appliances such as washing machines and air conditioners.
Kolkata-based IFB’s home appliances business swung to a loss of Rs 55.9 million in the quarter, from a pre-tax profit of Rs 39.1 million a year ago.
On the other hand, IFB reported a surge in profit at its engineering division, which also makes fine blanked components besides motors for white goods and for the auto sector.
US stocks open lower ahead of Fed rate decision
The Nasdaq Composite dropped 109.37 points, or 0.94%, to 11,512.34 at the opening bell.
REC Q3 Results
The New Delhi-based non-banking financial company’s profit rose to Rs 2915 crore in the three months ended Dec. 31, from Rs 2773 crore a year earlier, it said in a statement. Total revenue from operations fell 2.5% to Rs 9782 crore.
However, a 6.5% drop in total expenses during the quarter offset the fall in total operations revenue.
The company, which mainly provides loans to state electricity boards, state utilities and all segments of power infrastructure in the private sector, said its interest income on loan assets grew nearly 1% to Rs 9660 crore.
Bond yields rise as caution prevails ahead of budget, supply weighs
The benchmark 10-year yield ended at 7.4004%, highest level since Nov. 7, after closing at 7.3874% on Friday, posting its second consecutive weekly rise.
It had risen by nine basis points in the last two weeks.
FirstMeridian Business Services files fresh draft papers for IPO; cuts issue size to Rs 740 crore
Staffing firm FirstMeridian Business Services Ltd has refiled preliminary papers with capital markets regulator Sebi and reduced its Initial Public Offering (IPO) size to Rs 740 crore from Rs 800 crore planned earlier. The initial share-sale comprises fresh issuance of equity shares worth Rs 500 crore and an Offer For Sale (OFS) of Rs 690 crore, according to the Draft Red Herring Prospectus (DRHP) filed with Sebi on Friday.As a part of the OFS, promoter Manpower Solutions Limited will sell shares worth Rs 615 crore while existing shareholders New Lane Trading LLP and Seedthree Trading LLP would sell shares worth Rs 42.5 crore and Rs 32.5 crore, respectively.
BPCL Q3FY23
#EarningsWithETNOW | BPCL Q3FY23 -PAT of Rs 1,960 cr Vs loss of Rs 304 cr QoQ -Revenue at Rs 1.19 lk cr Vs Rs 1.1… https://t.co/FAcAhinubJ
— ET NOW (@ETNOWlive) 1675081120000
BPCL Q3 RESULTS
- PAT at Rs 1960 cr vs loss of Rs 304 cr QoQ
- Revenue at Rs 1.19 lakh cr vs Rs 1.15 lakh cr QoQ
- Govt approved a one-time grant of Rs 5582 cr for LPG
Abu Dhabi’s IHC To Invest AED 1.4 Billion In Adani Enterprises FPO
Inox Leisure Q3 Results: Consolidated net loss Rs 40.41 cr vs loss of Rs 1.32 cr | consolidated revenue from operations Rs 516 cr vs Rs 296 cr
IHC Subscribes for $400 million in Adani Enterprises FPO
Following a weak start, Nifty fell below the previous low on the daily timeframe. However, the bulls came to the market around the 50-week exponential moving average, which lifted the benchmark index smartly before closing the day in the green. However, Nifty has a crucial resistance placed at 17750–17800, which may limit further upsides in the near term. On the other hand, a decisive move above 17800 may induce a further rally towards 18000 or 18150. On the lower end, support is likely to remain at 17400–17350.
– Rupak De, Senior Technical Analyst at LKP Securities
The Bank Nifty index continued to witness selling pressure, and the index witnessed high volatility during the day. The index is likely to trade in a broad range between 39500 and 41525, where put and call writing are visible, respectively. If the index can hold the 39800 support level, we could see a pullback rally to the 41000-41500 levels.
– Kunal Shah, Senior Technical Analyst at LKP Securities
L&T Q3 Results: Cons PAT at Rs 2553 cr vs ET NOW poll of Rs 2615 cr | Revenue: Rs 46390 cr vs ET NOW poll of Rs 45882 cr
Tech Mahindra Q3: PAT at Rs 1300 crore vs poll Rs 1245 crore
Revenue: Rs 13735 cr vs ET NOW poll of Rs 13490 cr
Closing Bell: Sensex rebounds 801 pts from day’s low, ends 170 pts higher; Nifty near 17,650; Nykaa jumps 5%, Delhivery sheds 3%
Welspun India Q3 Results: Consolidated net profit Rs 42.38 cr vs Rs 132 cr | Consolidated revenue from operation Rs 1869 cr vs Rs 2418 cr
Price as on 30 Jan, 2023 03:11 PM, Click on company names for their live prices.
Punjab National Bank Q3 Results
Profit slips 44% QoQ to Rs 629 cr as against Rs 1,127 cr in same quarter a year ago
GAIL India Q3 Results | Pat at Rs 246 crore vs Rs 3288 crore; Revenue at Rs 35380 crore vs Rs 25776 crore
Price as on 30 Jan, 2023 02:28 PM, Click on company names for their live prices.
Check out the top laggards from banking sector
Price as on 30 Jan, 2023 02:05 PM, Click on company names for their live prices.
Sector Watch: Sea of red; Nifty Bank tanks over 2%, Oil & Gas over 4%
These stocks plummeted to fresh 52-week lows
Heatmap: IndusInd bank tumbles 5%, Bajaj Finance rises 4%
SENSEX CRASH TODAY | Index tumbles nearly 600 points
STOCK IN FOCUS: L&T
#StocksInFocus | L&T -Declines for 6th consecutive session -Forms ‘Lower Highs & Lower Lows’ for 5th consecutive… https://t.co/izOdh2pee3
— ET NOW (@ETNOWlive) 1675066053000
3 Adani stocks locked in 20% lower circuit among top losers on NSE at this hour
Price as on 30 Jan, 2023 01:38 PM, Click on company names for their live prices.
Market Watch | Sensex falls over 350 points
Bajaj Finserv Q3 results
- Cons PAT at Rs 3300 crore
- Revenue from ops at Rs 21,755 crore
Budget expectations for Salaried-class people by Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
A budget expectation this year is relief for income tax payers. The basic exemption limit of Rs 2.5 lakh was fixed in 2014 and, therefore, needs revision. Raising the exemption limit to Rs 4 lakh is likely. This relief is likely to be offered in the ‘ no exemption regime’ since the government wants this regime to take off.Rationalisation of the capital gains tax regime is another expectation. The current system is complex with different tax rates and holding periods for different investments. This needs simplification.
Welspun India: Co and Disney announce partnership for UK and Europe. To make, distribute Disney home textiles range (From Agencies)
Price as on 30 Jan, 2023 12:22 PM, Click on company names for their live prices.
Shares of Data Patterns rise as much as 18.53% to Rs 1,379, their biggest intraday gain ever. The defence and aerospace electronics solutions provider reported a higher Q3 net profit and revenue, while core profit margins expanded to 42.07% from 35.56%.
Price as on 30 Jan, 2023 12:13 PM, Click on company names for their live prices.
Steel Strips Q3 Results: PAT at Rs 43.77 cr vs profit Rs 42.69 cr | Revenue from operation Rs 938 cr vs Rs 861 cr
Price as on 30 Jan, 2023 12:10 PM, Click on company names for their live prices.
Sun Pharma acquires Disperzyme and Phlogam brands from Aksigen Hospital (From Agencies)
Price as on 30 Jan, 2023 12:06 PM, Click on company names for their live prices.
Laurus Labs Q3 Results
#EarningsWithETNOW | Laurus Labs Q3FY23 -Cons PAT at Rs 203.04 cr vs Rs 153.73 cr, up 32.1% YoY -Cons revenue at… https://t.co/o3tHU5FWBq
— ET NOW (@ETNOWlive) 1675060473000
Laurus Labs Q3 Results: Consolidated net profit Rs 203 crore vs Rs 154 crore | Consolidated revenue from operations Rs 1545 crore vs Rs 1029 crore
Adani group’s market loss swells to $65 billion in short-seller attack aftermath
Most Adani group shares extended their sharp falls to Monday as a detailed rebuttal of a U.S. short-seller’s criticisms by the Indian conglomerate failed to pacify investors whose market losses have now risen to $65 billion over three days. Flagship Adani Enterprises, which is facing a crucial test this week with a follow-on share offering, rose 3%, but was off initial gains of as much as 10% and significantly below the offer price.
Bond yields little changed in choppy trading before budget
Bond yields had dipped in opening trading with the federal government likely capping its gross market borrowing below 16 trillion rupees ($195.86 billion) for the next financial year, Reuters said in a report, citing two sources.
Though recently there has been some net outflow in terms of FPI investment, foreign investors are still preferring the FPI route for their investments as India continues to be a preferred investment destination in terms of overall growth and stability. There has been overall development in the capital market like the stock exchanges moving to T+1 settlement, SEBI introducing information databases and repositories on Municipal Bonds. Similarly, the fiscal budget 2023 is likely to provide further acceleration for the foreign investment inflows as demonstrated by the Government in its previous budgets.
– Manoj Purohit, Partner & Leader – Financial Services Tax, BDO India
Tata Power on Monday said it has partnered with Contour, a leading digital trade finance network based out of Singapore, to make its financial management process more robust, transparent and efficient. Contour’s network uses decentralised technology (blockchain) to bring together companies, banks and ecosystem partners, onto a trusted network, to help create a streamlined digital trade finance workflow, a statement said.
Price as on 30 Jan, 2023 10:41 AM, Click on company names for their live prices.
76 stocks turned multibaggers since last Budget
According to a study of BSE-listed stocks with a market capitalisation of over Rs 500 crore, 3 stocks – Rajnish Wellness, SG Finserve and NIBE – gained more than 1,000% since February 1 last year.
Genus Power Infra bags order worth Rs 2,856 crore
Price as on 30 Jan, 2023 10:25 AM, Click on company names for their live prices.
Adani Group is considering a share buyback of group firms Ambuja Cements and Adani Ports & SEZ worth up to Rs 3,000 crore, said two people directly aware of the development. Talks are at an advanced stage and formal announcements by the company boards will be made in the coming weeks, they added.
Price as on 30 Jan, 2023 10:17 AM, Click on company names for their live prices.
These IT stocks gain most in trade today
Price as on 30 Jan, 2023 10:14 AM, Click on company names for their live prices.
A morning star reversal pattern in the closing hour, with Nifty now near the 3rd lower band, raises hopes of a swing higher, initially towards 17735. But, unless we see a push above 17820, expect 17290, the 200DMA to attract prices lower, with intermediate support seen at 17450.
– Anand James – Chief Market Strategist at Geojit Financial Services
Vedanta on Friday reported a 42% year-on-year (YoY) decline in its consolidated net profit to Rs 3092 crore for the quarter ended December 31, 2022. The company had reported a net profit of Rs 5,354 crore in the same quarter of the previous financial year.
Price as on 30 Jan, 2023 09:32 AM, Click on company names for their live prices.
Non-banking lender Bajaj Finance on Friday reported a 40% year-on-year rise in consolidated net profit for the December quarter, backed by healthy growth in net interest income and lower bad loan provisions. The net profit was at Rs 2,973 crore against Rs 2,125 crore in the year-ago period. The profit before tax also rose 40% at Rs 4,012 crore against Rs 2,868 crore.
Price as on 30 Jan, 2023 09:32 AM, Click on company names for their live prices.
Sharp Rebound: Sensex recovers after gap-down start
Today the market will be completely dominated by the movements in Adani stocks. The statement from Adani Enterprises that the FPO is on schedule and that there is no change in the price band is hugely important. This can be interpreted as a reflection of the confidence of the management in the success of the FPO. It is important to understand that the stock has limited public float. So, the price crash on Friday happened mainly due to shorting Adani stocks in general and Adani Enterprises in particular. One possibility is a big short-squeeze in the stock. Huge volatility is in store in Adani stocks today. The sustained selling by FPIs in January with a massive sell figure of Rs 5978 crores last Friday is a bit intriguing. Did the FPIs get wind of the storm blowing now? It is important to note that during the last 3 days while Nifty declined by 3.2 %, Bank Nifty declined by 6.3% on concerns of the Adani crisis impacting the banks. The correction in high quality private sector banks is a buying opportunity. Investors may wait for the dust to settle.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Rupee opens down 0.14% at 81.6350 per U.S. dollar; previous close 81.5225
Adani Group stocks trade mixed; Adani Gas tanks 19%, Enterprises jumps 6%
Price as on 30 Jan, 2023 09:21 AM, Click on company names for their live prices.
Sensex Heatmap: Most of the stocks open in the red
Opening Bell: Sensex falls 500 pts, Nifty below 17,500; Adani Gas tumbles 18%, Adani Enterprises rises 8%
The market is seen opening firm in Monday trades as positive cues from the US markets on Friday are expected to boost the sentiment. While cooling inflation in key economies is a positive sign, any excessive upside is likely to be capped and volatility could be the hallmark in the near term. The ongoing Adani Enterprises FPO could fuel sharp sideways movement and hence Adani group stocks will remain in focus. During the week, interest-rate decisions from the Federal Reserve, Union Budget presentation, and the January automobile sales data would determine the mood of the markets. Technically, Nifty is likely to be in a trading range of 17000-18000.
– Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities Ltd
Pre-open session: Sensex slips over 150 points; Nifty below 17,530
Asian shares brace for rate hikes, earnings rush
Asian shares started cautiously on Monday in a week that is certain to see interest rates rise in Europe and the United States, along with U.S. jobs and wage data that may influence how much further they still have to go.
Quarterly earnings today
115 companies will detail December quarter earnings. Larsen & Toubro, Tech Mahindra, Punjab National Bank among the major ones.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 48 points, or 0.27 per cent, higher at 17,737.50, signaling that Dalal Street was headed for a positive start on Monday.
Tech View: Nifty forms long bear candle to break key support level
Headline equity index Nifty on Friday formed a long bear candle on the daily chart, indicating a decisive downside breakout of the sideways range movement in the market at 17800 levels.
Wall Street ends higher, notches weekly gains as Fed meeting looms
Wall Street advanced on Friday, marking the end of an rocky week in which economic data and corporate earnings guidance hinted at softening demand but also economic resiliency ahead of next week’s Federal Reserve monetary policy meeting.
Oil climbs after drone attack in Iran, China’s pledge to promote consumption
Oil prices climbed in early Asia trade on Monday, supported by tensions in the Middle East following a drone attack in Iran and as Beijing pledged over the weekend to promote a consumption recovery which would support fuel demand.
Rupee rises 2 paise against US dollar
The rupee appreciated 2 paise to close at 81.59 against the US dollar on Friday amid a firm American currency against major rivals overseas.
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