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PRE-MARKET REPORT
The benchmark Sensex and Nifty indices are likely to open on a negative note as trends in the GIFT Nifty indicate a weak start.
Wall Street’s major indexes rose as S&P hovered near the 5,000-point milestone as investors reacted to earnings reports and U.S. jobs data, and the US dollar gained.
The Dow Jones Industrial Average rose 48.97 points or 0.13 percent. the S&P 500 gained 2.85 points, or 0.06 percent and the Nasdaq Composite gained 37.07 points, or 0.24 percent.
Stock markets in China, South Korea, and Taiwan are shut, while Singapore and Hong Kong will see a half day of trading while Japan’s Nikkei rose 0.64%, breaching the 37,000 mark for the first time in 34 years, while the Topix was flat.
STOCKS TODAY
Life Insurance Corporation of India: The state-owned life insurance company has recorded a standalone profit of Rs 9,444.4 crore in the quarter ended December FY23, growing sharply by 49.1 percent over a year-ago period. Net premium income for the quarter was Rs 1,17,017 crore, increasing 4.7 percent compared to the corresponding period of the last fiscal, and net commission grew by 3.2 percent YoY to Rs 6,520 crore for the quarter. LIC has declared an interim dividend of Rs. 4 per share.
Biocon: The biopharmaceutical firm recorded a consolidated net profit of Rs 660 crore for the October–December period of FY24, against a loss of Rs 41.8 crore in the corresponding period of the last fiscal. This was partly due to a low base, as there was an exceptional loss of Rs 271.4 crore in Q3 FY23. Revenue from operations for the quarter at Rs 3,953.7 crore increased by 34.4 percent over a year-ago period.
Bharat Heavy Electricals (BHEL): The state-owned power equipment manufacturer has received an order from HPGCL (Haryana Power Generation Corporation) for setting up the 1×800 MW ultra-critical expansion unit at DCRTPP Yamuna Nagar. The contract value is more than Rs 5,500 crore. BHEL will provide equipment (including a boiler, turbine, generator, and associated auxiliaries), erection and commissioning, and civil works.
Patanjali Foods: The FMCG company has reported a net profit of Rs 216.5 crore for the third quarter of FY24, falling 19.6 percent compared to the corresponding period of last fiscal year, impacted by subdued topline and operating numbers. Revenue from operations fell by 0.2 percent YoY to Rs 7,910.7 crore for the quarter.
Indian Railway Catering and Tourism Corporation (IRCTC): The state-owned entity has signed a MoU with the Government of Uttarakhand through the Uttarakhand Tourism Development Board (UTDB) for taking dedicated Bharat Gaurav tourist trains through IRCTC and operating the trains originating from different cities and stations of the country to Uttarakhand. The MoU has been signed initially for two years, which would be further extended for additional years.
Aster DM Healthcare: The healthcare services provider has reported consolidated profit at Rs 179.2 crore for the third quarter of FY24, growing 28.6 percent over a year-ago period, backed by topline and EBITDA performance. Revenue from operations grew by 16.2 percent YoY to Rs 3,710.6 crore for the quarter, while operating EBITDA increased by 28 percent to Rs 583 crore.
Ramco Cements: The cement manufacturing company has reported a 38.6 percent on-year growth in standalone net profit at Rs 93.4 crore for the quarter ended December FY24, backed by healthy operating numbers. Revenue from operations grew by 5 percent YoY to Rs 2,106.1 crore for the quarter. During Q3FY24, the sale volume was 4 million metric tons, compared to 3.64 million metric tons in Q3FY23, with a growth of 10 percent.
Results on February 9: Hero MotoCorp, Tata Power Company, Honasa Consumer, Zydus Lifesciences, Alkem Laboratories, Bajaj Hindusthan Sugar, Bandhan Bank, Campus Activewear, Cello World, DOMS Industries, Emami, Finolex Cables, Happy Forgings, Inox Green Energy Services, Indian Railway Finance Corporation, MRF, The New India Assurance Company, Pfizer, PI Industries, Shree Renuka Sugars, Shipping Corporation of India, SJVN, and Sundaram-Clayton will release their December quarter earnings on February 9.
Results on February 10: Oil and Natural Gas Corporation, Aurobindo Pharma, Divis Laboratories, Multi Commodity Exchange of India, Amber Enterprises India, Birla Precision Technologies, Chemcon Speciality Chemicals, Flair Writing Industries, Jagran Prakashan, Sai Silks (Kalamandir), TVS Electronics, Updater Services, and Uflex will be declaring their December quarter earnings on February 10.