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PRE-MARKET REPORT
The domestic equity indices are expected to open higher amid mixed global market cues.
Further, Gift Nifty indicates a gap-up start for the Indian stock market indices.
Asian markets were mixed Monday amid muted trading as most markets remain shut for the week for the Lunar New Year holidays.
Japan’s Nikkei 225 gained 0.1% at open, while the Topix fell 0.2%. Many major Asian markets are closed including China, Hong Kong, Malaysia, Singapore, South Korea, and Taiwan.
The US stock market ended mixed on Friday with the S&P 500 closing above 5,000 for the first time boosted by a rally in megacaps and chip stocks.
The Dow Jones Industrial Average declined 54.64 points, or 0.14% while the S&P 500 rose 28.70 points, or 0.57%. The Nasdaq Composite ended 196.95 points, or 1.25%, higher.
STOCKS TODAY
Oil and Natural Gas Corporation: The state-owned oil and gas exploration company recorded a consolidated profit of Rs 9,536 crore for the quarter ended December FY24, down 13.7 percent compared to the year-ago period. Revenue from operations dropped 9.8 percent YoY to Rs 34,789 crore for the quarter, with crude oil price realization falling 6.4 percent YoY to $81.59 a barrel.
Tata Power Company: The Tata Group company recorded a net profit of Rs 1,076 crore for the third quarter of FY24, growing 2 percent over a year-ago period, supported by better realization in the core business segments consisting of generation, transmission & distribution, and renewables. Revenue from operations grew by 3 percent year over year to Rs 14,841 crore for the quarter.
Hero MotoCorp: The world’s largest two-wheeler maker has recorded a net profit of Rs 1,073 crore for the quarter ended December FY24, growing sharply by 51 percent over a year-ago period with strong growth in operating numbers. Revenue from operations for the quarter grew by 21 percent YoY to Rs 9,724 crore. Hero announced an interim dividend of Rs 75 per share and a special dividend of Rs 25 per share for the financial year ended 2023–24 and has received board approval for an investment of up to Rs 600 crore over two years for setting up a global parts center (GPC) 2.0 with a storage capacity of up to 36,700 stock-keeping units (SKUs) in Andhra Pradesh.
Indian Railway Finance Corporation: The Miniratna public sector enterprise has recorded a net profit of Rs 1,604 crore for the third quarter of FY24, falling 1.8 percent compared to the year-ago period. Revenue from operations grew by 8.4 percent YoY to Rs 6,742 crore for the quarter.
PI Industries: The agri-sciences company has registered a 27.5 percent on-year growth in consolidated net profit at Rs 448.6 crore for the October–December period of FY24, with healthy growth in topline and operating numbers. Revenue from operations grew by 17.6 percent YoY to Rs 1,897.5 crore for the quarter.
Landmark Cars: The luxury car retailer has reported a consolidated net profit of Rs 18.2 crore for the October–December period of FY24, falling nearly 30 percent compared to the corresponding period of the last fiscal. Revenue from operations increased by 9.5 percent YoY to Rs 959.2 crore for the quarter.
Bandhan Bank: The private sector lender has recorded a massive 152 percent on-year growth in net profit at Rs 733 crore for the third quarter of FY24 on a sharp fall in provisions and contingencies. Net interest income grew by 21 percent YoY to Rs 2,525 crore for the quarter. Asset quality improved with the gross NPA declining 30 bps sequentially to 7.02 percent and the net NPA falling 11 bps QoQ to 2.21 percent for the quarter.
Results on February 12: A total of 480 companies will release their quarterly earnings scorecards on February 12, including Coal India, Bharat Forge, Allcargo Logistics, Anupam Rasayan India, BLS E-Services, Cera Sanitaryware, Dilip Buildcon, GSK Pharmaceuticals, Hindustan Aeronautics, HEG, Krsnaa Diagnostics, Mazagon Dock Shipbuilders, Samvardhana Motherson International, NHPC, Steel Authority of India, and Skipper.