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Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 0.26 per cent higher at 17,304, signalling that Dalal Street was headed for a positive start on Wednesday.
Major markets in Asia were trading higher as investors in Japan focused on Toyota’s third-quarter earnings and tech stocks rose in China led by gains in Alibaba. Nikkei 225 advanced 0.90%, Topix gained 0.93%, Hang Seng jumped 1.74% and CSI 300 rose 0.11%.
Indian rupee fell 5 paise to 74.75 against the US dollar on Tuesday.
Upcoming Earnings
Power Grid Corporation of India, Tata Power, ACC, Bosch, FSN E-Commerce Ventures (Nykaa), Aurobindo Pharma, Berger Paints, 3i Infotech, Abbott India, Aries Agro, BASF India, DCB Bank, Finolex Cables, GMR Infrastructure, HEG, Indiabulls Housing Finance, Jindal Stainless (Hisar), Lumax Auto Technologies, Nuvoco Vistas Corporation, Paras Defence and Space Technologies, Petronet LNG, Procter & Gamble Health, Hitachi Energy India, Prestige Estates Projects, Pricol, SAIL, Solara Active Pharma Sciences, Spencers Retail, Sundaram-Clayton, Talbros Automotive Components, TTK Healthcare, and Welspun Specialty Solutions
FII/DII Trading Data (08-02-2022)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 7225.08 | 9192.97 | (1967.89) |
| DII | 6674.2 | 5559.2 | 1115 |
| *All numbers are in INR crore | |||
Stocks in News Today
Bharti Airtel: The telecom company’s net profit dipped 2.8 per cent YoY to Rs 830 crore in Q3FY22 compared with a net profit of Rs 854 crore. The company’s revenue for the quarter grew 12.6 per cent to Rs 29,867 crore on a yearly basis. The average revenue per user rose 6.5 per cent QoQ and 11.6 per cent YoY to Rs 163 due to an increase in mobile tariffs in November.
Meanwhile, Airtel’s board gave an enabling approval for raising up to Rs 7,500 crore through debt instruments.
Jindal Steel & Power Ltd (JSPL): The company reported a 27.2 per cent drop in consolidated profit at Rs 1,866.08 for the quarter ended December 2021 due to higher expenses compared with a consolidated profit of Rs 2,566.68 crore in the corresponding period of the previous fiscal. The consolidated income of the company during the October-December 2021 period increased to Rs 12,535.35 crore, over Rs 9,643.88 crore in the year-ago period.
Godrej Consumer Products Ltd (GCPL): The FMCG company Tuesday reported a 4.93 per cent increase in consolidated net profit at Rs 527.60 crore in Q3FY22 compared with a net profit of Rs 502.80 crore in the year-ago period. Its total revenue from operations was up 8.08 per cent at Rs 3,302.58 crore during the quarter under review, as against Rs 3,055.42 crore in the corresponding period last fiscal.
NMDC: The state-owned company reported a marginal 2.8 per cent drop in consolidated profit at Rs 2,048.40 crore for the quarter ended December 2021 on the back of higher expenses. The company had reported a profit of Rs 2,108.05 crore in the year-ago period. The company’s income during the reported quarter increased to Rs 6,026.68 crore, from Rs 4,460.97 crore in the year-ago period.
BSE Ltd: The exchange operator reported an 86 per cent jump in net profit to Rs 58.58 crore in Q3FY22 as against a net profit of Rs 31.44 crore in the same quarter of the preceding fiscal. The exchange’s revenue from operations surged 60 per cent to Rs 192.67 crore for the quarter under review compared with Rs 120.59 crore in the year-ago period.
Indian Railway Catering and Tourism Corporation (IRCTC): The company reported 168% jump in net profit at Rs 209 crore in Q3FY22 compared with a net profit of Rs 78 crore in the year-ago period. IRCTC’s Q3FY22 revenue rose 141% to Rs 540 crore as against Rs 224 crore in Q3FY21.
JK Paper: The company reported over two- fold increase in consolidated net profit at Rs 151.05 crore for the third quarter ended December 2021. The company had logged a net profit of Rs 64.59 crore in the same period year ago. Total income was higher at Rs 1,056.41 crore during the period under review as against Rs 770.45 crore in the year-ago period.
Bata India: The company reported nearly three-fold increase in consolidated net profit at Rs 72.32 crore for December quarter 2021 compared with a net profit of Rs 26.41 crore in the year-ago period. Revenue from operations was up at Rs 841.30 crore during the quarter under review as against Rs 615.62 crore in the same period a year ago.
Bajaj Electricals Ltd: The company reported a decline of 50.94 per cent in its consolidated net profit to Rs 48.17 crore for the third quarter ended December 2021 compared with a net profit of Rs 98.19 crore in the year-ago period. Its total revenue from operations was down 12.02 per cent to Rs 1,319.81 crore during the quarter under review as against Rs 1,500.14 crore in the corresponding period of the previous fiscal.
Morepen Laboratories: The company said its net profit declined 9.54 per cent to Rs 21.52 crore in Q3FY22 as against a net profit of Rs 23.79 crore in the same period of previous fiscal year. Net revenue rose to Rs 399.19 crore in the third quarter as compared with Rs 310.26 crore in the same period of FY21.
Tata Teleservices (Maharashtra) Ltd: The company reported widening of losses to about Rs 302 crore for the quarter ended December 2021 compared to a loss of Rs 297.95 crore in the year-ago period. The revenue from operations rose two per cent year-on-year to Rs 284.2 crore in the third quarter of the current fiscal.
Jammu & Kashmir Bank: The lender reported a jump in its net profit at Rs 174.81 crore for the quarter ended December 2021, compared with a net profit of Rs 66.37 crore in the same quarter a year ago. Total income fell to Rs 2,178.57 crore during Q3FY22 as against Rs 2,349.81 crore in Q3FY21.
Dalmia Cement Bharat Ltd: The company has emerged as the highest bidder for two coal blocks in Jharkhand that were auctioned for commercial use.