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Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 0.17 per cent lower at 17,460.50, signalling that Dalal Street was headed for a negative start on Monday.
Most Asian shares were trading lower on Monday after strong US jobs data eased concerns about the global economy but also added to fears of an aggressive tightening by the US Federal Reserve. Nikkei 225 fell 0.86%, Topix lost 0.42%, Hang Seng was down 0.77% and CSI 300 rose 1.23%.
Indian rupee rose 17 paise to 74.70 against the US dollar on Friday.
Upcoming Earnings
Union Bank of India, TVS Motor Company, NALCO, Indian Bank, JM Financial, Jindal Stainless, PB Fintech, Borosil, Camlin Fine Sciences, Castrol India, Chemcon Speciality Chemicals, Clean Science and Technology, Fortis Malar Hospitals, Future Supply Chain Solutions, Gabriel India, Glaxosmithkline Pharmaceuticals, Indo Count Industries, Lasa Supergenerics, Likhitha Infrastructure, Nucleus Software Exports, Paisalo Digital, Peninsula Land, The Phoenix Mills, Punjab & Sind Bank, Sansera Engineering, S H Kelkar and Company, Talbros Engineering, Tarsons Products, Texmaco Infrastructure, Texmaco Rail, Tube Investments of India, and Zodiac Energy
FII/DII Trading Data (04-02-2022)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 5377.41 | 7645.27 | (2267.86) |
| DII | 6196.26 | 5574.28 | 621.98 |
| *All numbers are in INR crore | |||
Stocks in News Today
State Bank of India (SBI): The country’s largest lender reported 62.3% jump YoY in net profit at Rs 8,432 crore for the quarter ending December 2021, helped by lower provisions for bad loans. The lender reported net profit of Rs 5,196 crore in the year-ago period. Net interest Income rose by 6.48 per cent YoY in Q3FY22 to Rs 30,687 crore from Rs 28,820 crore the same period last year.
SBI has lined up six non-performing assets (NPAs) for sale to asset reconstruction companies (ARCs) to recover dues of nearly Rs 406 crore.
Tata Steel: The company reported a consolidated profit after tax (PAT) of Rs 9,598 crore in Q3FY22, up 139 per cent from a PAT of Rs 4,011 crore in the year-ago period. The company’s revenue stood Rs 60,783 crore in the quarter, compared with Rs 41,935 crore in the corresponding quarter a year ago.
IndiGo: The airline posted a profit of Rs 129.79 crore in Q3FY22, compared with a loss of Rs 621.80 crore in Q3FY21. Net revenue increased 89 per cent to Rs 9,294.77 crore from Rs 4,909.98 crore a year ago.
Bank of Baroda: The lender’s standalone net profit doubled to Rs 2,197 crore in Q3FY22, aided by higher net interest income and lower provisions. It had posted a net profit of Rs 1,061 crore in the same quarter a year ago. Net interest income jumped 14.38 per cent YoY to Rs 8,552.03 crore in the reporting quarter. Net interest margin stood at 3.13 per cent, up 36 basis points from the year-ago period.
Reliance Industries: The company’s telecom arm Jio Platforms announced that it has picked up a 25 per cent stake in Silicon Valley-based deep tech start-up Two Platforms (TWO) for $15 million around Rs 112 crore. Founded by Pranav Mistry, Two Platforms is an artificial reality company which focuses on building interactive and immersive AI experiences. The two companies will build disruptive technologies such as AI, metaverse and mixed realties.
Maruti Suzuki India: The carmaker is expecting production activity to rise in the fourth quarter with gradual improvement in the supply of critical electronic components. The auto maker is planning to ramp up its SUV portfolio to get back to 50 per cent market share in the domestic passenger vehicle segment.
IndusInd Bank and Zee Entertainment Enterprises: The lender has filed a plea for bankruptcy proceedings against Zee at the Mumbai Bench of the National Company Law Tribunal (NCLT). The bank has claimed a default of Rs 83.08 crore against the media and entertainment firm.
Paytm: The Fintech company’s revenue increased 89 per cent to Rs 1,456 crore in Q3FY22 on a yearly basis, whereas its net loss widened 45 per cent YoY to Rs 778 crore. The company said that its contribution profit – revenue from operations less payment processing charges, promotional cashback and incentives, and other direct costs – improved to 31.2 per cent of revenue in Q3FY22 from 8.9 per cent in Q3FY21.
Lupin Ltd: The drugmaker reported a 24.45 per cent rise in its consolidated net profit at Rs 545.5 crore in Q3Y22 against a net profit of Rs 438.3 crore in the same quarter of the previous fiscal. Sales rose to Rs 4,087.5 crore in the third quarter, against Rs 3,917.3 crore in the same period of 2020-21.
Cipla: The drug major said it has signed an agreement to acquire 32.49 per cent stake in AMP Energy Green Eleven to set up a captive solar power project in Maharashtra. With this acquisition, it plans to enhance the share of renewable power sources in its operation.
Godrej Properties and DB Realty: The real estate firm has decided to cancel its plans to invest Rs 700 crore in DB Realty to acquire 10 per cent stake and set up a joint platform amid concerns raised by minority shareholders and other stakeholders. Executive Chairman Pirojsha Godrej said that there were concerns with the structure of the investment as well as with the slum redevelopment business in general.
Shree Cements Ltd: The company reported a decline of 23.57 per cent in its consolidated net profit at Rs 482.70 crore in Q3FY22 compared with a net profit of Rs 631.58 crore in the October-December quarter a year ago. Its revenue from operations was up 2.24 per cent at Rs 3,637.11 crore during the quarter under review as against Rs 3,557.21 crore in the corresponding quarter last fiscal.
Ujjivan Small Finance Bank: The bank’s net losses narrowed to Rs 34 crore in the quarter ended in December 2021 due to lower provisioning, increasing collection efficiency and higher loan disbursals. The bank had posted a net loss of Rs 279 crore in the corresponding quarter a year ago. Total income of the bank rose by 2 per cent to Rs 799 crore in Q3FY22 from Rs 786 crore in the year-ago period.
CMS Info Systems: The cash management company’s profit rose 48% to Rs 86.86 crore in Q3FY22 from Rs 54.56 crore in the year-ago period. Revenue from operations stood at Rs 354.27 crore in the reported quarter compared with Rs 285.63 crore.
Radico Khaitan Ltd: The liquor maker has reported a decline of 5.88 per cent in its consolidated net profit at Rs 79.13 crore for the third quarter ended December 2021, compared with a consolidated net profit of Rs 84.08 crore in the same quarter a year ago. Its revenue from operations was up 8.84 per cent to Rs 3,306.67 crore in Q3FY22 as against Rs 3,037.90 crore in the corresponding period a year ago.
Dalmia Bharat Sugar and Industries Ltd: The company posted 52.5 per cent jump in consolidated net profit at Rs 56.58 crore during the third quarter of FY22. The company’s net profit in the year-ago period stood at Rs 37.10 crore. Total revenue rose to Rs 637.83 crore in Q3FY22 compared with Rs 619.56 crore in the year-ago period.
Bayer Cropscience Ltd: The company posted a net profit of Rs 84.8 crore for the third quarter of 2021-22 on better revenue and sale of its seed business. The company had posted a net loss of Rs 45.1 crore in the same quarter previous fiscal. Net revenues rose to Rs 999.9 crore during the third quarter of the 2021-22 fiscal, compared to Rs 936.5 crore in the year-ago period.
Siemens: The company reported 15 per cent dip in consolidated net profit at Rs 250.8 crore for December quarter 2021. The company had logged a net profit of Rs 295.5 crore in the year-ago period. Total income rose to Rs 3,610 crore in the quarter from Rs 2,983.3 crore in the same period a year ago.
Eveready Industries: The company reported 51.41 per cent decline in consolidated net profit at Rs 23.71 crore in Q3FY22 compared with a net profit of Rs 48.80 crore in the year-ago period. Revenue from operations was down 4.22 per cent to Rs 325.88 crore during the quarter under review as against Rs 340.27 crore in the year-ago period.
City Union Bank (CUB): The company reported a 15 per cent rise in net profit at Rs 196 crore for the quarter ended December 2021 on lower provisioning for bad loans. It posted a net profit of Rs 170 crore in the same quarter a year ago. Total income was down at Rs 1,195.24 crore as against Rs 1,267.80 crore in Q3FY21.
Thermax: Energy and environment solutions provider reported 5 per cent dip in consolidated net profit at Rs 79 crore for December quarter of FY22 compared to Rs 83 crore in the year-ago period. Operating revenue was Rs 1,615 crore in the quarter as compared to Rs 1,411 crore in the year-ago period.
Godrej Agrovet: The company reported an 8.37 per cent decline in consolidated net profit at Rs 62.39 crore in Q3FY22 compared with a net profit stood of Rs 68.09 crore during the corresponding quarter of the previous fiscal. Total income increased by 35.71 per cent to Rs 2,088 crore compared to Rs 1,539.23 crore in the year-ago quarter.