Pre Market Analysis: Dalal Street may open flat; RIL, Bajaj Finance, ICICI Securities and Tata Elxsi in news today

Market Opening - An Overview

Nifty futures on the Singapore Exchange were trading 0.02 per cent lower at 18,134, indicating that Dalal Street was headed for a flat start on Wednesday.

Most Asian stocks fell in early trade on Wednesday tracking the Wall Street amid a surge in Treasury yields, as the prospect of Federal Reserve monetary tightening to curb inflation weighed on markets.

Indian rupee fell 33 paise to 74.57 against the US dollar on Tuesday.

Upcoming Earnings

Bajaj Auto, ICICI Lombard General Insurance Company, Larsen & Toubro Infotech, JSW Energy, Aptech, CCL Products (India), Ceat, Chembond Chemicals, Continental Securities, DRC Systems India, Orient Green Power Company, JSW Ispat Special Products, Mastek, Nelco, Oracle Financial Services Software, Rallis India, Saregama India, Sterlite Technologies, Syngene International, Tata Communications, Tata Investment Corporation and Tejas Networks.

FII/DII Trading Data (18-01-2022)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Reliance Industries Limited: The company has called for tighter regulation of marketplace e-commerce platforms to ensure such websites treat all sellers equally, according to four sources, Reuters reported. At a closed-door government meeting on Tuesday, Reliance told officials that India needed special regulations to ensure “non-discriminatory” treatment of sellers on marketplace websites, three of the sources with knowledge of the talks said.

Bajaj Finance: The NBFC posted an 85 per cent jump in consolidated net profit to Rs 2,125 crore in the Q3FY22 on the back of robust growth in net interest income (NII) and lower provisions. In the same period last year, it reported a net profit of Rs 1146 crore. Consolidated NII jumped 40 per cent to Rs 6,000 crore in the reporting quarter, compared to Rs 4,296 crore in the corresponding period of last financial year.

ICICI Securities: The company has reported a 42 per cent growth in profit after tax at Rs 380 crore in Q3FY22 as against a PAT of Rs 267 crore in the year-ago period. The company’s revenue jumped 52 per cent to Rs 942 crore in the quarter under review from Rs 620 crore in the year-ago period.

Tata Elxsi: The company said that its net profit increased 43.5 per cent to Rs 151 crore in December quarter of FY22 from a net profit of Rs 105.2 crore in the year-ago period. Revenue from operations rose 33.2 per cent to Rs 635.4 crore in the quarter from Rs 477.1 crore in the year-ago period, it added.

Reliance Jio, Airtel, Vodafone Idea: Reliance Jio and Bharti Airtel added 2.01 million and 1.3 million mobile subscribers in November respectively as per the data released by Telecom Regulatory Authority of India. Vodafone Idea (Vi) continued to lose customers and in November its subscriber base shrank by 1.8 million.

L&T Technology Services: The IT company reported a net profit of Rs 248.8 crore up 33.7 per cent year-on-year. The company reported revenue growth of 20 per cent year-on-year at Rs 1,687 crore.

Just Dial: The company’s consolidated net profit declined by 61.2 per cent to Rs 19.4 crore for the quarter ended in December 2021 from Rs 49.9 crore in the year-ago period. Its revenue from operations dipped 6.2 per cent to Rs 158.89 crore in the reported quarter from Rs 169.54 crore in the same period last fiscal.

ICICI Prudential Life Insurance: The company reported a marginal two per cent year-on-year growth in its net profit to Rs 311 crore for the December 2021 quarter, on higher sales of policies, compared with a net profit of Rs 306 crore in year-ago period. The company has reported a 20 per cent growth in the value of the new business to Rs 515 crore, while margins rose to 26.7 per cent in the quarter.

TV18 Broadcast Ltd: The media firm reported a 17.4 per cent drop in its consolidated net profit to Rs 311.55 crore for the third quarter ended December 2021 from a net profit of Rs 377.20 crore for the same period last fiscal. Its consolidated revenue from operations during the reported quarter jumped 15.15 per cent to Rs 1,567.08 crore, from Rs 1,360.95 crore in the year-ago period.

Coal India Ltd: A company official from the mining major said that the company is committed to meet the elevated demand of the dry fuel from the power sector, including coastal plants dependent on imports. The official added that the company has already started supplying some amount of coal to the coastal plants to cut down on imports.

Trident Ltd: The company reported an 88 per cent jump in consolidated profit after tax at Rs 211.09 crore in the third quarter of FY22. The company had posted a consolidated profit after tax of Rs 112.15 crore in the same quarter previous fiscal. Consolidated total income during the period under review stood at Rs 1,983.65 crore as against Rs 1,308.24 crore in the same quarter last fiscal.