Stock Market Live Updates: Sensex erases over 600-point gains, trades flat; Nifty above
- Google to invest up to $1 billion in Bharti Airtel
- Kotak Bank Q3 profit rises 15% YoY to Rs 2,131 cr
- DRL Q3 profit jumps 25 times to Rs 709 crore
- India seeks regulatory fast track for LIC IPO: Reuters
- Adani Wilmar IPO sails through on Day 2
- Vedant Fashions IPO opens on Feb 4; priced at Rs 824-866
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Adani Wilmar IPO sails through on Day 2
Gujarat-based chemicals manufacturer Atul on Friday reported a decline of 17.56 per cent in its consolidated net profit to Rs 156.91 crore for the third quarter ended December 2021. The company had posted a net profit of Rs 190.35 crore during the October-December quarter of the previous fiscal, Atul said in a regulatory filing.
Talent development company NIIT Ltd on Friday reported a 32 per cent jump in net profit to Rs 55 crore for the December 2021 quarter, and said its Corporate Learning Group (CLG) and Skills and Careers Group (SNC) businesses would be reorganised as separate publicly listed companies. The company had registered a net profit of Rs 41.5 crore in the year-ago period.
Gold, silver spot prices
A tug of war between improving corporate earnings and fundamentals in India and global tapering and rate hikes will keep markets more volatile in 2022, unlike 2021 when it was a trending market.
– Amisha Vora, MD at Prabhudas Lilladher
PNB looking to further dilute its stake in UTI Mutual Fund
State-owned Punjab National Bank (PNB) on Friday said it is looking to further monetise its stake in UTI Mutual Fund as part of its non-core asset sale plan to shore up its capital base. The bank has categorised non-core assets into two heads — real estate and investment assets.
Top index drags
Sensex wipes off most gains, trades flat
Q3 EARNINGS: TATA COFFEE
- Revenue: Rs 626.07 cr vs Rs 532.76 cr YoY
- PAT: Rs 44.27 cr vs Rs 31.52 cr YoY
- Stock up over 2% on BSE
China stocks end at 16-month low ahead of Lunar New Year
China stocks fell to 16-month closing lows on Friday, extending losses even after state-backed newspapers and fund houses tried to calm investor nerves following a sharp sell-off last session on worries over faster U.S. monetary policy tightening. The blue-chip CSI300 index fell 1.2% to 4,563.77, while the Shanghai Composite Index lost 1% to 3,361.44.
Top losers in today’s session
Price as on 28 Jan, 2022 01:52 PM, Click on company names for their live prices.
India’s gold demand skyrockets to 797.3 tons in 2021: WGC
India’s gold consumption surged to 797.3 tonnes in 2021, on the back of recovery in consumer sentiments and pent-up demand post COVID-19-related disruptions and the bullish trend is set to continue this year as well, according to the World Gold Council (WGC). WGC in its Gold Demand Trends 2021 Report said India’s total gold demand jumped to 797.3 tonnes in 2021, registering a massive 78.6 per cent jump from 446.4 tonnes during 2020.
Kotak Mahindra Bank on Friday reported a 14.94 per cent year-on-year (YoY) rise in standalone net profit at Rs 2,131 crore compared with Rs 1,854 crore in the corresponding quarter last year. Net interest income (NII) for the quarter rose 11.81 per cent YoY to Rs 4,334 crore from Rs 3,876 crore in the same quarter last year. Net interest margin (NIM) for Q3FY22 came in at 4.62 per cent.
Q3 EARNINGS: DR REDDY’S LABS
Granules Pharmaceuticals receives ANDA approval for potassium chloride
Price as on 28 Jan, 2022 12:37 PM, Click on company names for their live prices.
Global gold demand rises 10% to 4,021 tonnes in 2021: WGC
Global gold demand rose 10 per cent to 4,021.3 tonnes in 2021 on account of a massive 50 per cent surge in year-on-year demand — a 10-quarter high — during the December quarter, a report by the World Gold Council (WGC) said. The overall gold demand during 2020, which was impacted following Covid-19 related disruptions, stood at 3,658.8 tonnes, the WGC said in its ‘Gold Demand Trends 2021’ Report.
Top 10 gainers on NSE in late afternoon trade
Price as on 28 Jan, 2022 12:12 PM, Click on company names for their live prices.
SC junks appeal by Ceat, MRF against CCI order to probe tyre manufacturers for cartelisation since 2014; allows tyre makers to contest final order as per law
Price as on 28 Jan, 2022 11:46 AM, Click on company names for their live prices.
Nykaa, I would buy at somewhere below Rs 1,000 and Zomato somewhere around Rs 60 odd. At these levels, longer term investors could look at getting in. It looks foolish making these kinds of price predictions but we never know. If you get a price or the company fundamentally surprises us on the other side, then our price target to buy them could increase.
– Sandip Sabharwal, independent analyst
Earnings Impact: Motilal Oswal Financial Services reported a consolidated net profit of Rs 239.14 crore for the quarter ended December, down 28.8% compared to a net profit of Rs 336.85 crore reported in the same period the previous financial year; stock down 4%
Price as on 28 Jan, 2022 11:40 AM, Click on company names for their live prices.
Navin Fluorine International says Honeywell partners with co to add hydrofluoroolefins manufacturing capacity in India
Price as on 28 Jan, 2022 11:38 AM, Click on company names for their live prices.
The Indian government has asked regulators for a swift review of Life Insurance Corporation’s draft prospectus, two government sources with knowledge of the matter said – as it pulls out all the stops to have the country’s biggest IPO completed by the end of March. The Securities and Exchange Board of India (SEBI) has been urged to complete its vetting process in less than three weeks instead of the 75 days it usually requires, they said.
Realty index gains the most; all constituents in the green
SC puts SpiceJet wind up order on hold for 3 weeks; stocks rallies 8%
Price as on 28 Jan, 2022 11:02 AM, Click on company names for their live prices.
Rajratan Global approves stock split in ratio 1:5
Price as on 28 Jan, 2022 10:56 AM, Click on company names for their live prices.
Shares of CE Info Systems dropped more than 11 per cent during early trade on Friday as the company posted a poor set of numbers in the December 2021 quarter. The homegrown digital mapping firm reported a decline of about 14 per cent in its consolidated profit after tax (PAT) at Rs 18.5 crore for the quarter ended December 2021. The company that operates under the brand name of MapmyIndia, had registered a consolidated PAT of Rs 21.59 crore in the same period a year ago.
Adani Wilmar IPO subscribed 67% so far; retail portion sails through
Route Mobile zooms 13% as Q3 net profit rises 28%
Shares of Route Mobile skyrocketed 12.9 per cent in early trade on Friday as the enterprise communication services firm posted a 28.33 per cent rise in consolidated profit at Rs 48.27 crore for the third quarter ended December 31, 2021. The company had posted a profit after tax of Rs 37.62 crore in the same period a year ago. The company’s scrip surged to a high of Rs 1,689 as against the previous close of Rs 1,495.55 on the National Stock Exchange.
Ahead of earnings
Price as on 28 Jan, 2022 10:19 AM, Click on company names for their live prices.
L&T wins large offshore contract from ONGC
Price as on 28 Jan, 2022 09:54 AM, Click on company names for their live prices.
There are three trends in the market which are important from investors’ perspective. One, relentless massive selling by FIIs ( around Rs 33000 cr so far in Jan) is emerging as the strongest headwind to the market in the short run. Two, there is massive churn happening within the Nifty from tech to banking and to a lesser extent to autos. Three, over-valued growth stocks are getting punished and their valuations are slowly getting to realistic levels. These trends provide opportunities to investors. High quality banking has strong fundamentals and attractive valuations justify nibbling in this space. Mid-cap IT with unjustifiable valuations have more room to correct, but large-cap IT is looking attractive after the recent correction. Long-term investors can nibble at some new age digital companies selectively if they correct by another 5 percent from present levels.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Kotak Mahindra Bank is likely to report a double-digit rise in net profit for the December quarter on a 6-10 per cent rise in net interest income. Margin is seen flattish. Analysts said Kotak should see a reduction in stress but the behaviour of the ECLGS lending pool & restructured portfolio coupled with the management commentary on the same would be keenly watched.
Sensex extends gains, eyes 58,000
Ethnic apparel retailer Vedant Fashions will launch its initial public offering (IPO) on February 4, Friday. The Kolkata-based company will sell its shares in the range of Rs 824-866. Vedant Fashions caters to the Indian celebration wear market with a diverse portfolio of brands including ‘Manyavar’, ‘Mohey’, ‘Mebaz’, ‘Manthan’ and ‘Twamev’.
Most active stocks on NSE
Price as on 28 Jan, 2022 09:24 AM, Click on company names for their live prices.
India VIX eases over 1% to 20.81
Sector Watch: All indices in the green in opening deals
OPENING BELL: Sensex jumps 550 points, Nifty nears 17,300; Airtel rallies 5%, NTPC 3%
JUST IN: Airtel to issue shares to Google at Rs 734 per share
Pre-open session: Sensex gains 250 points, Nifty50 above 17,150
Q3 earnings today
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 56 points, or 0.33 per cent, lower at 17,111.50, signaling that Dalal Street was headed for a negative start on Friday.
Tech View: Nifty50 eyes follow-up buying
Nifty50 on Thursday respected its immediate support and attractive buying at low to eventually form a Hammer-like candle on the daily chart. A Hammer has bullish connotation, provided the market witnesses a follow through buying in the next session, said Mazhar Mohammad of Chartviewindia. Nifty50 should ideally consolidate in the 17,309-16,850 zone in the near term, he said.
Hong Kong stocks start day with small gain
Hong Kong shares opened slightly higher Friday morning as traders struggled to cap a painful week on a slightly optimistic note, following another tepid performance on Wall Street as US rate hike fears hurt sentiment. The Hang Seng Index edged up 0.05 percent, or 11.94 points, to 23,818.94. The Shanghai Composite Index climbed 0.39 percent, or 13.35 points, to 3,407.59.
Japan shares rebound in early trade
Tokyo’s key Nikkei index opened higher on Friday, rebounding from sharp losses in the previous session. The benchmark Nikkei 225 index rose 1.17 percent, or 307.38 points, to 26,477.68 in early trade, while the broader Topix index added 1.22 percent, or 21.88 points, to 1,864.32. It came after Tokyo shares plunged more than three percent on Thursday, following US Fed Chair Jerome Powell’s announcement that a rate hike was likely in March.
US stocks give up gains, end lower
Another volatile day of trading on Wall Street ended Thursday with stocks closing lower after giving up an early rally. The late-afternoon fade extended the market’s losing streak as it closes in on its fourth weekly loss. The S&P 500 fell 23.42 points to 4,326.51, its third straight decline. The Dow fell 7.31 points to 34,160.78. The Nasdaq dropped 189.34 points to 13,352.78. The Russell 2000 fell 45.18 points to 1,931.29.
Rupee slumps 31 paise to over four-week against dollar
Registering its third straight session of loss, the rupee on Thursday depreciated by 31 paise to close at an over four-week low of 75.09 against the US dollar, tracking the strength of the American currency after a hawkish US Fed policy stance. At the interbank foreign exchange market, the local currency opened at 75.18 against the greenback and witnessed an intra-day high of 75.07 and a low of 75.31 during the session.
Sensex, Nifty on Thursday
Equity benchmark Sensex tumbled 581 points on Thursday, in tandem with a global selloff after the US Federal Reserve signalled policy tightening from March. A depreciating rupee and persistent foreign fund outflows further weighed on sentiment, traders said. The 30-share BSE index ended 581.21 points or 1.00 per cent lower at 57,276.94. Similarly, the broader NSE Nifty plunged 167.80 points or 0.97 per cent to 17,110.15.