Pre Market Analysis: Dalal Street is likely to open lower; Axis Bank, SBI Cards, Future Retail and Hero MotoCorp in news today

Market Opening - An Overview

Nifty futures on the Singapore Exchange were trading 0.35% lower at 16,997.50, signalling that Dalal Street was headed for a negative start on Tuesday.

Asian shares were trading lower as investors remained cautious over Fed’s monetary policy decision later this week and geopolitical tensions with respect to Ukraine. Nikkei 225 plunged 1.98%, Topix tanked 2%, Hang Seng dropped 1.64% and CSI 300 lost 0.73%.

Indian rupee fell 15 paise to 74.56 against the US dollar on Monday.

Upcoming Earnings

Maruti Suzuki India, Cipla, Pidilite Industries, United Spirits, Federal Bank, Allsec Technologies, APL Apollo Tubes, Astec Lifesciences, Best Agrolife, Burnpur Cement, Can Fin Homes, CarTrade Tech, Cosmo Films, Deccan Cements, Emkay Global Financial Services, Finolex Industries, Indiabulls Real Estate, ICRA, Macrotech Developers, Max India, Raymond, RPG Life Sciences, Skipper, Snowman Logistics, SRF, Star Cement, Sundaram Multi Pap, Swaraj Engines, Symphony, TeamLease Services and Torrent Pharmaceuticals.  

FII/DII Trading Data (24-01-2022)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Axis Bank: The private-sector lender reported a 224% jump in standalone net profit at Rs 3,614 crore for the quarter ending December 31, 2021, on the back of higher deposit and loan growth and improving asset quality. The lender reported net profit of Rs 1,117 crore in the year-ago period. The bank’s net interest income (NII) grew 17% YoY to Rs 8,653 crore. Net interest margin (NIM) for Q3FY22 improved by 14 bps QoQ to 3.53%.

SBI Cards and Payment Services: The company reported an 84 per cent jump in net profit at Rs 386 crore for December quarter 2021-22, compared with a net profit of Rs 210 crore in the year-ago period. The rise was attributed to healthy card spends, fall in bad loans and higher income from other sources. Total revenues rose 24 per cent to Rs 3,140 crore during the quarter under review as against Rs 2,540 crore in the same period of last fiscal.

Future Retail: Independent directors of Future Retail have turned down Amazon’s offer of financial support to the company through a deal with private equity firm Samara Capital, saying any legally invalid offer cannot be accepted. Amazon was willing to financially assist Future Retail through the Samara Capital deal but Amazon said Future Retail must shelve Rs 24,713 crore deal with the Reliance group. This offer was rejected by the company’s independent directors. Future Retail is likely to default on repayment of Rs 3,500 crore loan due on January 29, if it does not get any financial support.

Hero MotoCorp: The two-wheeler maker said its board has approved to invest up to Rs 700 crore in Hero FinCorp Ltd (HFCL). The investment is subject to execution of definitive documents and completion of certain conditions customary to a transaction of this nature, the two-wheeler major said in a regulatory filing.

Bharti Airtel: The company’s board of will meet to evaluate a fund-raising proposal, according to a regulatory filing. The fundraising plan comes ahead of the proposed 5G spectrum auction and is the second such exercise in three months.

Burger King India Ltd: The QSR company reported a net loss to Rs 15.15 crore for the third quarter ended December 31, 2021, as against a net loss of Rs 29.02 crore during October-December period of the previous fiscal year. Revenue from operations was up 71.51 per cent to Rs 279.89 crore during the quarter under review as against Rs 163.19 crore in the corresponding period of FY21.

Apollo Hospitals Group: The group has announced a tie-up with ‘The Clinic by Cleveland Clinic’. Through this programme, doctors at Apollo will be able to collaborate with leading medical experts at Cleveland Clinic to review complex cases and devise the most appropriate treatment plan.

Indian Energy Exchange: The company posted nearly 39 per cent rise in consolidated net profit to Rs 80.73 crore in the December quarter mainly on the back of higher revenues. The company had posted a net profit of Rs 58.14 crore in the same period last fiscal. Total income of the company rose to Rs 130.77 crore in the December 2021 quarter from Rs 96.09 crore in the year-ago period.

Shriram Transport Finance Company: The NBFC has posted a 6.47% decline in net profit for the October-December quarter of FY22 at Rs 680.62 crore, from Rs 727.27 crore during the same period of the last fiscal. Net interest income grew by 11.16 per cent to Rs 2,387.97 crore in the latest quarter under review as against Rs 2,148.22 crore in the year-ago period.

Data Patterns (India): The defence and aerospace electronics solutions provider has received a development order for Rs 27 crore from Defence Research and Development Organisation (DRDO) for the next generation wideband RF front end units for Electronic Warfare (EW) receivers. The order is for a new programme that will allow next-generation wideband EW receivers to be configured for naval, land and aerial platforms.

Deepak Nitrite Ltd (DNL): The chemicals firm reported nearly 12 per cent increase in net profit of Rs 242.46 crore for the quarter ending December 31, 2021, compared to a net profit of Rs 216.56 crore in the year-ago quarter. Revenue from operations of the company during the quarter under review grew by 39.49 per cent to Rs 1,722.27 crore compared to Rs 1,234.69 crore in the same period of FY21.

Supreme Industries Ltd: Plastic products maker reported a 21.31 per cent decline in consolidated profit to Rs 245.72 crore for the quarter ended in December 2021, as against a net profit of Rs 312.28 crore during the year-ago period. Its revenue from operations was up 5.49 per cent to Rs 1,945.11 crore during the quarter under review as against Rs 1,843.80 crore in the corresponding period of the previous fiscal.

Zensar Technologies: The company’s net profit declined 7.8 per cent to Rs 91 crore for the December 2021 quarter, as against a net profit of Rs 98.7 crore in the year-ago period, Zensar Technologies said in a statement. Its revenue rose 21.6 per cent to Rs 1,102.5 crore in the reported quarter from Rs 906.5 crore in the year-ago period, it added.

Quick Heal Technologies: The security software provider on Monday said its consolidated net profit grew 6.1 per cent to Rs 14.3 crore in December quarter 2021, as against a net profit of Rs 13.5 crore in the year-ago period. Total revenue rose 13.9 per cent to Rs 79.6 crore in the quarter under review, from Rs 69.9 crore in the year-ago period, it added.