Sensex, Nifty Snap Two-Day Gaining Streak As ICICI Bank, HDFC Twins Drag

Indian equities halted their two-day gaining streak, led by the declines in ICICI Bank Ltd., HDFC Ltd. and HDFC Bank Ltd.

The S&P BSE Sensex fell 0.26 percent to end at 41,459.79 and the NSE Nifty 50 fell 0.22 percent to close at 12,174.65. The broader markets represented by the NSE Nifty 500 Index fell 0.19 percent.

The market breadth was tilted in favour of sellers. About 986 stocks declined and 790 shares advanced on National Stock Exchange.

Six out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Private Bank Index’s 1.4 percent fall. On the flipside, the NSE Nifty Pharma Index was the top sectoral gainer, up 0.85 percent.

Adani Transmission (Q3, YoY)

• Stock rose as much as 3.3 percent to Rs 346.80.
• Revenue up 1.3 percent to Rs 2,777.6 crore.
• Net profit up 32.5 percent to Rs 203.7 crore.
• Ebitda up 36.7 percent to Rs 1,109.5 crore.
• Margin at 39.9 percent versus 29.6 percent.

Godrej Industries (Q3, YoY)

• Stock rose as much as 3.2 percent to Rs 443.10.
• Revenue up 11.5 percent to Rs 2,696.31 crore.
• Net profit up 45 percent to Rs 112.57 crore.

Torrent Power

• Stock rose as much as 9.6 percent to Rs 332.80 after announcing December quarter results.

Key Earnings Highlights (Q3, YoY)

• Revenue fell 5.4 percent to Rs 3,079 crore
• Net profit rose 77 percent to Rs 419.4 crore
• Ebitda rose 14.1 percent to Rs 840.4 crore
• Margin stood at 27.3 percent versus 22.6 percent.

Venky’s India

• Stock rose as much as 12 percent to, the most since Aug. 5, 2019, to Rs 1,528.90.
• Shares halted their five-day losing streak.

Take Solutions

• Stock rose as much as 8 percent to Rs 103.70 after announcing December quarter results.

Key Earnings Highlights (Q3, YoY)

• Revenue up 24.8 percent to Rs 651.1 crore.
• Net profit up 40.8 percent to Rs 50.4 crore.
• Ebitda up 22.9 percent to Rs 108.4 crore.
• Margin at 16.6 percent versus 16.9 percent.

Mishra Dhatu Nigam

• Stock rose as much as 10.6 percent to Rs 183.25.
• Revenue up 35.1 percent to Rs 206.9 crore.
• Net profit up 3.6 times to Rs 60.5 crore.
• Ebitda up 3.4 times to Rs 57.3 crore.
• Margin at 27.6 percent versus 11.2 percent.

Tasty Bite Eatables

• Stock rose as much as 19.9 percent to Rs 12,507.
• Trading volume was almost 30 times its 20-day average.

Vardhman Textiles

• Stock fell as much as 3.1 percent to Rs 982.
• Trading volume was more than 11 times its 20-day average.

Jyothy Labs

• Stock fell as much as 5.5 percent to Rs 133.50.
• Trading volume was almost seven times its 20-day average.

Great Eastern Shipping

• Stock fell as much as 14.9 percent to Rs 278.95.
• Trading volume was more than five times its 20-day average.

Stocks fell alongside U.S. equity futures on Thursday as officials in China deployed a revised methodology to diagnose the coronavirus, sending the number of confirmed cases soaring. Treasuries, gold and the yen all jumped.

• Futures on the S&P 500 Index declined 0.5 percent.
• The Stoxx Europe 600 Index dipped 0.5 percent.
• The MSCI Asia Pacific Index decreased 0.1 percent.
• The MSCI Emerging Market Index dipped 0.2 percent.

Get your daily fix of global markets here.
Source: Bloomberg

Shares of Hindustan Aeronautics fell as much as 2.2 percent to Rs 758.95 after announcing December quarter results.

Key Earnings Highlights (Q3, YoY)

• Revenue up 1 percent to Rs 4,456.4 crore.
• Net profit up 1.2 percent to Rs 460.7 crore.
• Ebitda down 1.6 percent to Rs 873.6 crore.
• Margin at 19.6 percent versus 20.1 percent.

Shares of IFCI rose as much as 8.7 percent, the most since Dec. 24, 2019, to Rs 6.20. The scrip halted their five-day losing streak.

Of the shares traded, 53 percent were at the ask price and 46 percent were at the bid, according to Bloomberg data. The stock rose 0.8 percent in the past five days and fell 9.6 percent in the past 30 days.

Shares of Venky's India halted their five-day losing streak. The stock rose as much as 12 percent to, the most since Aug. 5, 2019, to Rs 1,528.90.

Trading volume was seven times its 20-day average, Bloomberg data showed. The scrip declined 28 percent in the past 12 months compared to a 15 percent rally in the Sensex.

About 15.6 lakh shares of HDFC Bank changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

Seven out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Private Bank Index’s 1.1 percent fall. On the flipside, the NSE Nifty PSU bank Index was the top sectoral gainer, 0.8 percent.

Nifty’s 12,200 call option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the contract, which is set to expire on Feb. 13, fell 90.3 percent to Rs 3.75. About 51.53 lakh shares were added to the open interest which stood at over 70.01 lakh shares.

Indian equities declined, after fluctuating between gains and losses in the opening trade.

The S&P BSE Sensex fell 0.35 percent to 41,420.43 and the NSE Nifty 50 fell 0.36 percent to 12,157.35. The broader markets represented by the NSE Nifty 500 Index fell 0.35 percent.

IRCTC (Q3, YoY)

• Stock rose as much as 13 percent to hit an all-time high at Rs 1,599.
• Revenue rose 64.6 percent to Rs 716 crore
• Net profit rose 2.8 times to Rs 205.8 crore
• Ebitda rose 2.7 times to Rs 265.7 crore
• Margin stood at 37.1 percent versus 22.7 percent

Ashok Leyland (Q3, YoY)

• Stock fell as much as 4.2 percent to Rs 77.90.
• Revenue fell 36.5 percent to Rs 4,015.7 crore
• Net profit fell 92.7 percent to Rs 27.8 crore
• Ebitda fell 65.3 percent to Rs 225.3 crore
• Margin stood at 5.6 percent versus 10.3 percent

Aarti Industries (Q3, YoY)

• Stock fell as much as 5.9 percent to Rs 926.30.
• Revenue fell 4.5 percent to Rs 1,218.5 crore
• Net profit rose 4.6 percent to Rs 139.8 crore
• Ebitda relatively flat at Rs 254.2 crore versus Rs 253.1 crore
• Margins stood at 20.9 percent versus 19.8 percent
• Speciality chemical segment revenue rose 2 percent to Rs 1,042.3 crore

Dish TV (Q3, YoY)

• Stock fell as much as 4.2 percent to Rs 11.50.
• Revenue fell 42.8 percent to Rs 867.8 crore
• Net loss at Rs 64.5 crore versus Net Profit at Rs 161.7 crore
• Ebitda fell 5 percent to Rs 505.5 crore versus Rs 532 crore
• Margins at 58.3 percent versus 35.1 percent
• Subscription revenue fell 43.5 percent to Rs 798.2 crore
• Margin rose due to lower operating costs

Natco (Q3, YoY)

• Stock fell as much as 7.6 percent to Rs 655.
• Revenue fell 13.4 percent to Rs 482.2 crore
• Net profit fell 34.5 percent to Rs 104.5 crore
• Ebitda fell 38.2 percent to Rs 128.7 crore
• Margin stood at 26.7 percent versus 37.4 percent

Torrent Power (Q3, YoY)

• Stock rose as much as 9.6 percent to Rs 332.80.
• Revenue fell 5.4 percent to Rs 3,079 crore
• Net profit rose 77 percent to Rs 419.4 crore
• Ebitda rose 14.1 percent to Rs 840.4 crore
• Margin stood at 27.3 percent versus 22.6 percent

PI Industries (Q3, YoY)

• Stock swung from a gain of as much as 0.24 percent to fall as much as 0.4 percent.
• Revenue rose 20.1 percent to Rs 849.8 crore versus Rs 707.5 crore
• Net profit rose 12.4 percent to Rs 121.1 crore
• Ebitda rose 25 percent to Rs 186.5 crore
• Margins stood at 22 percent versus 21.1 percent

Sunteck Realty (Q3, YoY)

• Stock rose as much as 2.5 percent to Rs 399.95.
• Revenue down 0.6 percent to Rs 193.91 crore.
• Net profit down 24.7 percent to Rs 33.02 crore.
• Ebitda down 41.2 percent to Rs 50.14 crore.
• Margin at 25.9 percent versus 43.7 percent.
• Pre-sales rose by 5 percent.

Shares of Tasty Bite Eatables extended gains for the fifth consecutive trading session. The stock rose as much as 14.6 percent to hit an all-time high at Rs 11,949.80. The company had announced its quarterly results yesterday.

Here are the key earnings highlights (Q3, YoY):

• Revenue up 30.1 percent to Rs 114.2 crore.
• Net profit up 2x to Rs 13.7 crore.
• Ebitda up 20.6 percent to Rs 12.9 crore.
• Margin at 11.3 percent versus 12.2 percent.

Shares of Religare Enterprises extended declines for the second consecutive trading session. The stock fell as much as 2 percent to Rs 44.

The plans to acquire remaining 14.36 percent stake in Religare Finvest from Resurgence PE Investments for Rs 47.05 crore.

Of the shares traded, 53 percent were at the ask price and 43 percent were at the bid, according to Bloomberg data.

Shares of Yes Bank halted their three-day losing streak. The stock rose as much as 5.9 percent to Rs 37.30.

The bank said it has delayed its third-quarter earnings as the private lender is reviewing non-binding expressions of interest from four investors. The bank, which had to declare December quarter results by Feb. 14, will now report earnings on or before March 14.

The Mumbai-based lender has received non-binding EoIs from JC Flowers & Co. LLC, Tilden Park Capital Management, OHA (U.K.) LLP and Silver Point Capital, according to it stock exchange filing.

The stock declined 80 percent in the past 12 months compared to a 15 percent gain in the Sensex.

Indian equities fluctuated between gains and losses in the opening trade.

The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 41,533 and 12,187 respectively. The broader markets represented by the NSE Nifty 500 Index fell 0.14 percent.

The market breadth was tilted in favour of buyers. About 781 stocks advanced and 670 shares declined on National Stock Exchange.

Six out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Private Bank Index’s 0.55 percent fall. On the flipside, the NSE Nifty PSU Bank was the top sectoral gainer, up 0.9 percent.

Index Futures

• Nifty February futures closed at 12,228.4, a premium of 27.2 points
• Nifty February futures open interest down 2.4 percent, sheds 3.2 lakh shares in open interest
• Nifty Bank February futures closed at 31,566.9, premium 74 points versus 82.7 points
• Nifty Bank futures open interest down 0.3 percent, sheds 4,000 shares in open interest.

Nifty Weekly Expiry: Feb 13

• Max open interest on call side at 12,300 (25.1 lakh shares)
• Max open interest on put side at 12,100 (26.4 lakh shares)
• Open interest addition seen at 12,200P (+22.3 lakh shares), 12,150P (+12.7 lakh shares)
• Open Interest shedding seen in 12,150C (-14.2 lakh shares), 12,100C (-13.9 lakh shares)

Nifty Monthly Expiry: Feb 27

• Max open interest on call side at 12,500 (27.3 shares)
• Max open interest on put side at 12,000 (40.3 lakh shares)

Stocks In F&O Ban

• Yes Bank

• Aavas Financiers promoter Lake District Holdings sold 36.7 lakh shares on Feb. 7
• Globus Spirits promoter Chandhbagh Investments sold 24,000 shares on Feb. 11
• Persistent Systems promoter Rama-Purushottam Foundation sold 1,500 shares on Feb. 11
• Laurus Labs promoter Srihari Kalidnidi sold 32,000 shares from Feb. 7-11

(As Reported On Feb. 12)

• Mahanagar Gas to meet HDFC AMC on Feb. 17
• Affle (India) to meet Aberdeen Standard Investments, Solitude Capital Management and TCW Management on Feb. 13
• MCX to meet Mondrian Investment Partners on Feb. 20
• Bajaj Auto to meet IIFL and Edelweiss from Feb. 13-14
• Tata Consumer Products to meet Axis AMC, Ballie Gifford and other investors on Feb. 17
• TVS Motor to meet Somerset Capital on March 2
• CCL Products to meet Ashmore Capital , SAIF Partners and other investors on Feb. 13
• IIFL Securities to meet Pabrai Funds, Mirae AMC and other investors on Feb. 13

• Fermenta Biotech ex-date for share bonus issue at 2:1
• Ruchi Soya Industries to move into ASM Framework
• Apollo Pipes, Lakshmi Vilas Bank, Swan Energy, Refex Industries, Honeywell Automation, Talwalkars Healthclubs to move into short term ASM Framework
• Oswal Chemicals & Fertilizers to move out of short term ASM Framework
• Hind Rectifiers, Mangalam Organics price band revised to 10 percent
• Shilpa Medicare, Refex Industries price band revised to 5 percent

Indian equities are set for a tepid start.

The S&P BSE Sensex rose 0.3 percent to 41,701 during the pre-market trade and the NSE Nifty 50 traded little changed at 12,219.80.

The Indian rupee opened lower against the U.S. dollar. The home currency depreciated as much as 0.09 percent to 71.40 against the greenback.

• HSIL: Promoter Paco Exports acquired 5.87 lakh shares (0.81 percent) at Rs 55.43 each
• Parag Milk Foods: Norges Bank sold 14.17 lakh shares (1.69 percent) at Rs 92 each.

• Indian Commodity Exchange NCDEX files for initial public offering.

• No additions/deletions.
• Increases weightage for Bajaj Finance, Bandhan, HDFC, Shree Cement and ICICI Bank among other companies.
• Decreases weightage for Shriram Transport, Tata Steel and Dr. Reddy's Laboratories.

MSCI India Index Sectoral weightage:

• Banks: 22.8 percent (Financials: 29.7 percent)
• Energy: 14.6 percent
• Software:15.2 percent
• Consumer staples: 9.9 percent

• Yes Bank said it has delayed its third-quarter earnings as the private lender is reviewing non-binding expressions of interest from four investors. The Mumbai-based lender has received non-binding EoIs from JC Flowers & Co. LLC, Tilden Park Capital Management, OHA (U.K.) LLP and Silver Point Capital, according to its exchange filing on Wednesday. The bank, which had to declare its October-December results by Feb. 14, will now report earnings on or before March 14.
• PI Industries: Board approved the merger of the company’s arm Isagro with the company and also approved raising Rs 2000 crore via QIP issue. Isagro’s acquisition was completed on Dec. 27.
• Godrej Properties said that the company will challenge the National Green Tribunal’s order quashing environmental nod granted to one of its housing projects in Bengaluru, saying no construction work has been done in the buffer zone of a lake. (PTI)
• AstraZeneca Pharma: Parent Company AstraZeneca said proposed generic versions of a lung cancer treatment by Alembic, MSN Labs and Zydus Cadila infringe a patent for Tagrisso Cancer Drug. (BN)
• Videocon Insolvency: NCLT has allowed Venugopal Dhoot's plea for consolidation of overseas oil and gas assets. SBI had opposed the consolidation of overseas oil and gas assets on grounds that they fall outside the purview of the resolution plan. Dhoot had filed an application seeking a moratorium on foreign petroleum assets and restrain the banks from selling them. (Source: NCLT Proceedings)
• Religare Enterprises plans to acquire remaining 14.36 percent stake in Religare Finvest from Resurgence PE Investments for Rs 47.05 crore. The company’s stake in Religare Finvest is set to 100 percent from 85.64 percent.
• Allahabad Bank to reduce MCLR by 5 basis points across various tenors with effect from Feb. 14. Three Month MCLR at 8.05 percent and One Year MCLR at 8.25 percent.
• BHEL signed a memorandum of understanding with Russia’s Rosoboronexport. The aim of the MOU is to cooperate and undertake joint projects and operations for Defence Systems. This will help in leveraging BHEL's capabilities in the Defence Sector in association with Russian OEMs.
• General Insurance Corporation of India obtained a license from Bank of Russia for the commencement of reinsurance business in Russia.
• Aurobindo Pharma has completed the acquisition of certain business assets of Profectus BioSciences.
• Rico Auto Industries started commercial production of its new plant in Alwar to manufacture and supply auto components, from Jan. 1.
• RSWM: The board has withdrawn its rights Issue proposal of Rs 150 crore, in view of easing of the cash flow situation of the Company and raising of debt funds through alternative arrangements at favourable rates.
• Pricol has called off its JV with Pointer Telocation, as the target company was acquired by USA’s ID Systems and business terms were not favourable for the company to continue to the formation of JV.
• PNC Infratech declared L1 Bidder for HAM Project in Uttar Pradesh for a bid cost of Rs 2052 crore.
• Karur Vyasa Bank has commenced its bullion business.
• KPI Global Infra received an order for executing solar power project of 810KW capacity from two companies in Surat.
• KNR Constructions received appointed date by Karnataka Government for EPC projects whose bid cost stood at Rs 1,144.5 crore.

• U.S. equities closed at record highs on Wednesday as optimism grew that the global economy can recover from the impact of the coronavirus amid signs the spread of the illness is slowing.
• Oil posted the biggest gain in almost six weeks as signs that the spread of Asia’s coronavirus may be slowing boosted investor confidence that crude’s sell-off has peaked.

Get your daily fix of global markets here.
Source: Bloomberg

Good Morning!

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, traded little changed at 12,222.50 as of 8:15 a.m.

Stocks were mixed in Asian trading Thursday as investors mulled over the implications of a surge in the number of coronavirus cases in Hubei, after it deployed a revised methodology.

U.S. futures and Japanese equities fell, though Korean stocks climbed and Shanghai was flat at the open. The Hang Seng Index is on course to claw back all its losses since the end of the Lunar New Year holiday.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.